ICTSI is partnering with Anglo Ports for the bid and together the two parties bring extensive sector expertise to the project spanning container terminal development, operations and logistics chain know-how.

 ICTSI is one of the pioneers of taking its container terminal expertise overseas and now manages and operates a portfolio of 27 marine terminals in 19 countries. The company is headed up by billionaire Enrique K. Razon Jr., ICTSI Chairman and President, who over the last decade has overseen a period of remarkable growth for ICTSI in both developed and emerging markets. Mr Razon has other substantial business interests that include casinos and mining.

The ICTSI group has a market cap in excess of USD4 billion and in 2013 is expected to handle over 5m TEU (five million TEU). Its flagship Manila container terminal handled an annual volume of 1,826,176TEU in 2012 and it will soon bring into service its new Manzanillo, Mexico terminal, developed on a BOT basis, offering an initial annual capacity of 650,000TEU growing to in excess of 1.5m TEU over time. This year ICTSI celebrates its 25th anniversary and it has commenced well with ICTSI being named as the recipient of the prestigious Best Managed Company in Asia for Transportation/Shipping Award from Euromoney. The award is based on the feedback of equity analysts at the largest banks and research organisations based in the Asia Pacific region. Analysts praised ICTSI for its leading role in promoting transparent communication to investors, citing that “the company has a clear strategy and good visibility.” ICTSI possesses a range of blue chip investors with the majority based in Europe and the USA.

Anglo Ports is headquartered in Australia and is headed up by Chairman Capt. Richard Setchell, former Chairman and Managing Director of P&O’s global ports empire. Capt. Setchell and his management team have an intimate knowledge of container terminal operations on the Australian waterfront and a strong understanding of how best to meet new liner and cargo shipper requirements.

The consortium of ICTSI and Anglo Ports were formerly short-listed bidders in the new Brisbane and Port Botany Third Container Terminal bidding processes.

ICTSI is a leading port management company involved in the operations and development of 27 marine terminals and port projects in 19 countries worldwide.  The company was among the first international terminal operators to take its expertise overseas.

In a statement today, US rating agency, A M Best has re-affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” of Through Transport Mutual Insurance Association Limited (TTB) (Bermuda) and its subsidiary, TT Club Mutual Insurance Limited (TTI) (United Kingdom) collectively trading as TT Club.

“The outlook for both ratings remains stable. The ratings of TTI reflect the integral part it plays in TT Club’s strategy, as well as the extensive reinsurance protection provided by TTB, which is expected to maintain excellent consolidated risk-adjusted capitalisation in 2013,” the agency said.

A M Best also noted in its statement on the TT Club:

“Its business profile is supported by a superior service standard, which underpins a high policyholder retention rate of roughly 95%, and by its active involvement in loss prevention and risk management within the industry.”

The TT Club’s gross written premium for 2012 increased to US$182.3M and the Club’s combined ratio – the key measure of the health of its operating performance – reduced to 96.3%.

Knud Pontoppidan, Chairman of the TT Club, commented:

“We are becoming used to very low or decreasing growth levels across the world and that is impacting global trade and as a result all our businesses. Unfortunately 2013 does not appear likely to break this pattern. In spite of these challenging global economic conditions the Club has maintained a stable financial platform in 2012 from which to deliver our core product and value adding services.”

The A M Best statement also noted that, “in 2013 TTB is expected to produce a combined ratio of roughly 100%. Investment income is likely to be modest but positive, reflecting a conservative investment portfolio and the low interest rate environment.”

“As a mutual, the club is not pressured to generate high returns, however, TTB is expected to continue to produce small pre-tax profits in most years, in line with its performance record since 2008,” the agency concluded.

The key highlights for the TT Club during 2012 were as follows:

* Combined ratio (total claims and expenses divided by net earned premiums) improved to 96.3% from 99.6% in 2011.

* Member retention remains high confirming the continuing strong service ethos within the Club

* Investment return is up to 1.5% from 0.8% in 2011. The Club’s investment portfolio remains low risk, being primarily invested in cash and short term bonds, and it is over 10 years since the Club made a realised investment loss. 

* Net result is a surplus of US$4.2M, a 238% increase on 2011.

* Surplus and reserves increased by 2.9% to US$149.7M.

* Very strong capital position, equivalent at A++, the highest rating on the A M Best capital adequacy model.

Charles Fenton, Chief Executive of the TT Club, commented on the results and the A M Best statement:

“As we approach our 45th year of trading next month, we have recently formalised a new brand positioning of “established expertise” and I am delighted that our results and the

A M Best ratings fully reflect and support the position we have reached over the years, with continuing positive results in 2012 demonstrated by increased gross written premiums, high policyholder retention, reduced combined ratio and a stronger capital position.”

“The TT Club has always sought to deliver expert insurance solutions and assistance to its Members and supporting brokers through superior underwriting, claims, risk management and loss prevention services, and it is pleasing that an independent and well respected rating agency continues to recognise the stable financial position and performance that underpins all our aspirations,” he added.

The TT Club suffered two major losses during 2012, Superstorm Sandy and the fire and explosions on ‘MSC Flaminia’, whilst these claims are significant they have not impacted negatively on the results for the year, with the performance of the overall claims book remaining within expectations.

The delivery of the Kalmar reachstackers is scheduled over the next six months to five of the most important ports in Algeria: Annaba, Skikda, Algiers, Mostagannem and Ghazaouet. The value of the order is approximately EUR 10 million.

Mr Saidi Mabrouk, General Manager at GICEP, commented: “It was very important for us to find a partner that could deliver a combination of high performance equipment and excellent technical support.  Kalmar’s response met with these objectives exceptionally well. 

“We knew of Kalmar’s brand reputation and expected the DRF 450 reachstacker to offer impressive productivity. But we were particularly impressed with the strength of their locally based service team.  When you’re responsible for running five busy ports, maintaining operational efficiency and productivity is critical.  We previously had experience of operating Kalmar reachstackers at our Algiers port and found them to be very reliable and productive”, he added.

Eduardo Prat, Vice President, Kalmar South EMEA, said, “We are delighted to be developing our relationship with GICEP. The Kalmar F-generation machines have the capacity to stack five containers high in two rows, are easy to operate and feature good all-round visibility. The quality and durability we build into these machines also results in low running costs and attractive residual values.  We work hard to exceed our customers’ expectations and this clearly was a key factor in Kalmar winning this important tender”.

The two cranes, each with lifting capacities of up to 100 t  and radii up to 51 m, are to be modified by Terex Port Solutions to meet the specific conditions of the quays in the port and, from late summer 2013, will be handling mainly containers. Napier Port is expanding its fleet of cranes as a result of business growth, which is currently the second largest in New Zealand’s North Island in terms of the volume of total export cargo handled.

Quay construction makes modifications to chassis and propping system necessary

For more than 20 years, Napier Port has been a customer of Terex Port Solutions and currently operates a fleet of four Terex Gottwald HMK 280 E and HMK 300 E mobile harbour cranes that were originally supplied with options including an extended tower and special chassis. With the two new G HMK 6408 cranes, the chassis will be fitted with a special set of axles which are spaced further apart than normal to take account of the site conditions. The chassis will also be equipped with eight axles, which will prevent the permitted loading of the quay from being exceeded. For the same reason, the extended propping system will provide an increased area to take into account the specific quay conditions.

Expansion of the harbour crane fleet

“When it came to expanding our fleet of harbour cranes, we opted once again for Terex Port Solutions because we were satisfied with their performance, availability and service. Secondly, we were convinced this time that Terex Port Solutions was best able to adapt its mobile harbour cranes to our terminal conditions while, at the same time, enabling us to improve productivity with the new cranes due to more efficient working speeds,” explained Chris Bain, Chief Operating Officer of Napier Port.

Modular construction system enables individual adaptations

Terex Port Solutions offers a total of six crane models that are made up of modular units. This construction principle allows the company to accommodate special customer requests. This means that the chassis, for example, can be adapted to individual requirements, as in the case of Napier Port, but also that other special features can be offered. These include interlocking stabiliser beams on the chassis which reduce the crane’s width overall, allowing it to pass through narrower gaps and reducing the turning circle. On particularly narrow quays, this provides increased manoeuvrability.