Dry bulk
Dry bulk shows a slight downward trend across the board. The handling of agri bulk fell by 11.7% since the harvests in Europe are good this year and therefore less is imported. The throughput of coal remained at the same level, that of ores and scrap fell by 2%. The reason is that German steel production has not really increased yet and Europe imports steel from China via southern European ports. In total, 3.1% less dry bulk was handled.

Containers and breakbulk
Measured in TEU (container size), the handling of containers in the first nine months was 1.0% higher than last year. In tonnes, the handled volume was virtually the same (+0.2%). This is caused by lower Chinese exports, slowing of the growth of emerging economies such as Brazil, and the deterioration of the Russian economy which reduces the throughput of containers (short sea and feeder traffic) to this region. Moreover, the new terminals on Maasvlakte 2 are not yet operating at sufficient speed to handle large volumes. The container terminals on Maasvlakte 1 have a high occupancy rate. This is currently limiting the growth. Within the container sector, it is mainly the (short sea) traffic to the British Isles that increases due to a strong UK economy. This, combined with strikes by ferry companies in Calais and problems with the Channel Tunnel, is also the reason that roll on/roll off traffic across the North Sea has increased by 11.4%. Other break bulk decreased by 7.6%. Combined, breakbulk (roll on/roll off and other breakbulk) increased by a total of 6.9%.

Liquid bulk
The throughput of crude oil increased by 8.5%. Main reason is the low price of oil, which ensures good margins as a result of which refineries are processing more crude oil than last year. This applies not only to the five refineries in Rotterdam and the five in Germany, Antwerp and Vlissingen, which are supplied from Rotterdam, but also those in Russia. Especially the latter produce a relatively large amount of fuel oil which is shipped to the Far East via Rotterdam. This is the main reason that the handling of oil products increased by 22.1%. The throughput of LNG almost doubled. As gas prices in Asia have dropped significantly and are now comparable to those in Europe, the supply here is increasing. In absolute terms, the handling volume of LNG is still limited. Other liquid bulk decreased by 1.2%. In total, 12.5% more liquid bulk was handled.

Liquid bulk
The throughput of crude oil increased by 8.5%. Main reason is the low price of oil, which ensures good margins as a result of which refineries are processing more crude oil than last year. This applies not only to the five refineries in Rotterdam and the five in Germany, Antwerp and Vlissingen, which are supplied from Rotterdam, but also those in Russia. Especially the latter produce a relatively large amount of fuel oil which is shipped to the Far East via Rotterdam. This is the main reason that the handling of oil products increased by 22.1%. The throughput of LNG almost doubled. As gas prices in Asia have dropped significantly and are now comparable to those in Europe, the supply here is increasing. In absolute terms, the handling volume of LNG is still limited. Other liquid bulk decreased by 1.2%. In total, 12.5% more liquid bulk was handled.

The ratings come as SCPA plans to issue approximately USD290 million in new revenue bonds to fund several major capital projects, including the purchase of two super post-Panamax cranes and wharf improvements for the Wando Welch Terminal, upgrades to refrigerated cargo infrastructure at both SCPA container terminals, and construction of the Navy Base Terminal.

“Strong ratings from two of the top credit reporting agencies confirm that SCPA is well-poised to deliver on an aggressive capital plan and remain a top ten container port, offering the modern facilities, deep water and reliability necessary for above-market growth in today’s shipping environment,” said Jim Newsome, SCPA president and CEO. “These ratings reaffirm the financial industry’s confidence in our port system’s long-term strategic plan.”

Moody’s, which issued an A1 rating with a stable outlook to the 2015 bonds as well as the USD155 million in outstanding revenue bonds issued in 2010, cited SCPA’s current harbor depth as an asset to the organization’s strong competitive position that will be enhanced by plans to deepen to 52 feet by the end of the decade.

The Moody’s report states that SCPA’s “stable outlook is based upon our  expectation that the authority will continue to exhibit strong financial and operating performance, and that it will be able to achieve sufficient revenue growth to support the increased debt without significant detriment to coverage and liquidity metrics.”

Standard & Poors assigned an A+ rating with a stable outlook on both bond series as well. The agency referenced SCPA’s import-export cargo balance and good diversity of top customers as important credit strengths. The report also noted SCPA’s “solid regional position as provider of maritime infrastructure in the Southeast” in its credit assessment.”

The ratings include analysis of financial performance, volume growth, customer diversity, performance relative to competitors and future capital projects. The SCPA is solely responsible for the revenue bonds it issues, with no obligation of the state or taxpayers.

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As per the MoU, TCFSA and Kale Logistics have agreed to co-operate with a view to provide a Digital Community platform to enable effective management of cargo information & documentation flows such that it eliminates/reduces manual paperwork considerably. This move promises toimprove and contribute to the seamless movement of EXIM containers in and out of the Tuticorin

Port from/to the Tuticorin based CFS/ICDs. The CODEX platform will electronically connect CFS/ ICDs, Transporters, Port authority, Customs, Port terminal Operators and Security forces (Central Industrial Security Force-CISF). Hailing this as a path breaking and pioneering initiative in enabling ease of business, and following the honorable Prime Minister’s initiative of “Digital India” Mr.S.Anantha Chandra Bose, Chairman, V.O. Chidamabaranar (Tuticorin) Port Trust said, “Tuticorin is a progressive and prominent port in the region. We have recently expanded the Port Gates and are introducing Toll Gate to enable Seamless access to the port. The Container Digital Exchange is the first of its kind initiative at an Indian Port which promises to reduce the current documentation process from 2 hours to almost 1/4th its time.”

Speaking on the occasion, Mr. David Raja, President –TCFSA stated, “We were impressed with the work Kale Logistics has done on Airport cargo handling side for Mumbai Airport and also at other port CFS/ICDs in India and abroad. They completely understand our business and that
of our extended logistics value chain. With the CODEX platform, we look forward to better manage multiple document exchange between our members & trade partners, streamline the processes involved in container movement, track queue issue at port and reduce overall dwell time.”

“We are already in the space of developing Cargo Community Platforms, having created India’s first Cargo Community Platform UPLIFT back in 2011. Hence, it gives us tremendous confidence to once again deliver India’s first Container Digital Exchange for the Port User community. Since, we have prominent CFS/ICD system installations in India and other countries, we exactly know what Global Technology practices needs to be followed for a progressive port like Tuticorin.” said Mr. Vineet Malhotra, Senior Vice President- Kale Logistics Solutions Container Digital Exchange (CODEX) is an EDI based electronic platform through which communication, information exchange, connectivity and electronic processing of key business transactions/operations can be facilitated between all container stake-holders at the Port and its related logistics value chain.