Carver will report directly to President and CEO Michael Hassing and be responsible for expanding Ports America’s business interests domestically and internationally, working closely with port authorities and government officials.

An industry veteran of 20 years in maritime and logistics development, Carver’s extensive experience includes port and private sector development and infrastructure investment projects, terminal concession agreements, P3 partnerships and joint ventures. For the past five years, he served as director of port infrastructure for financial services giant Jones Lang LaSalle. Carver is an expert on the Panama Canal, having worked at Jones Lang LaSalle as an integral part of the development consortium building the Panama Colón Container Port. Carver was founder and managing director of iPort Los Angeles and also served as executive director for Colliers International’s multimodal services group.

President/CEO Hassing said Carver’s appointment will strengthen Ports America’s position in the global marketplace through enhanced focus on business growth.

Ports America, headquartered in New Jersey, is the largest independent marine terminal operator and stevedore company in the United States. The company currently operates in more than 80 locations at 42 ports. Ports America handles all types of cargo, including container, bulk, breakbulk, automotive, project, military and cruise line passengers.

The acquisition is a strategic step for Kalmar to become a major global crane refurbishment and services provider. Kalmar has been a minority shareholder with 30 percent ownership in the company since 2007.

Mareiport is a privately owned company established in 1985 in Algeciras, Spain. The company has been providing maintenance services for ports and terminals and refurbishment and heightening services for a large variety of different cranes, including quay cranes, rubber tyred gantry cranes, bulk cranes and large shipyard cranes especially in the Mediterranean area. In 2012, Mareiport’s sales totalled approximately EUR 20 million and it employs approximately 250 people.

“There are about 5,000 units of quay cranes in operation globally. A majority of them have been in operation over ten years and are in need of refurbishments and upgrades. At the same time, our customers are looking for modifications and upgrades to their existing quay cranes to handle ever larger vessels. By acquiring full ownership in Mareiport, Kalmar will expand its crane services and refurbishment capabilities especially in Southern Europe, Middle East and Africa and together with our existing competences in Central Europe, South East Asia and East Coast USA we will be able to respond to the growing customer needs globally,” says Olli Isotalo, President of Kalmar.

Kalmar has successfully delivered crane heightening projects globally utilising its advanced crane jacking system and modern technology adaptable to old crane design. Crane heightening and refurbishment is a good solution for customers who are looking for improved crane capacity with higher stacking height and extended reach at minimum cost. With dedicated technology and an experienced team, crane heightening projects can be completed in a few weeks securing minimum equipment downtime. Kalmar’s crane refurbishment and heightening services fit to all equipment brands on the market.

The company advises that the full port closure, which will be in place until 13:00hrs today (9th May), and extensive damage to vital port infrastructure, is likely to cause on-going disruption.  Shipping already in Genoa is likely to be held in port for an extended period, while incoming vessels are being advised to stay anchored until advised, or to consider diverting to alternative destinations. 

ISS can advise on suitable alternative ports and provide detailed information on facilities and restrictions in place via its World of Ports service: www.iss-worldofports.com. The company recommends that shipowners and managers speak with its Italy office for up-to-the-minute updates, 24 hours a day (T: +39 335 6187672).

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of USD97.5 million, 27 percent higher than the USD76.7 million generated in the first quarter of 2012; and net income attributable to equity holders of USD40.7 million, up 15 percent over the USD35.4 million earned in the same period last year.

ICTSI handled consolidated volume of 1,496,462 twenty-foot equivalent units (TEUs) for the quarter ended 31 March 2013, 12 percent more than the 1,338,316 TEUs handled in the same period in 2012.  The increase in volume was mainly due to the continuous growth in international and domestic trade in most of the Company’s terminals and the volume generated by the Company’s new terminal operations in Jakarta, Indonesia and Karachi, Pakistan.  Excluding the volume from the two recent port acquisitions and the effect of the cessation of the operations in Syria effective January 2013, organic volume growth was relatively flat.  The Company’s seven key terminal operations in Manila, Brazil, Poland, Ecuador, Madagascar, China and Pakistan accounted for 79 percent of the Group’s consolidated volume in the first quarter of 2013.

Gross revenues from port operations for the quarter ended 31 March 2013 surged 20 percent to US$209.3 million, from the US$173.8 million reported in the same period in 2012.  The increase in revenues was mainly due to higher storage revenues and ancillary services, favorable volume mix, tariff rate increases in certain key terminals, and the revenue contribution from the new terminals in Jakarta, Indonesia and Karachi, Pakistan.  Excluding the revenues from the newly acquired terminals and the effect of the cessation of the operations in Syria, organic revenue growth was nine percent.  The Group’s seven key terminal operations in Manila, Brazil, Poland, Ecuador, Madagascar, China and Pakistan accounted for 85 percent of the Group’s consolidated revenues in the first quarter of 2013. 

Consolidated cash operating expenses in the first quarter of 2013 grew 15 percent to US$84.6 million, from US$73.8 million in the same period in 2012.  The increase was mainly driven by higher volume-related expenses (i.e., on-call labor, fuel, power and repairs and maintenance), government-mandated and contracted salary rate increases in certain terminals, and the inclusion of the expenses of the new terminals in Jakarta, Indonesia, and Karachi, Pakistan.  Excluding the cash operating expenses of the new terminals as well the impact of the cessation of the Company’s operation in Syria, total cash operating expenses would have increased by only six percent. 

Consolidated EBITDA for the first quarter of 2013 increased 27 percent to US$97.5 million, from US$76.7 million in 2012 mainly due to the stronger revenues from storage and ancillary services, tariff increases in certain key terminals and the contribution of the new terminals in Jakarta, Indonesia and Karachi, Pakistan.  Excluding Jakarta and Karachi as well as Syria in 2012, EBITDA growth would have been 10 percent.  Meanwhile, consolidated EBITDA margin increased to 47 percent in the first quarter of 2013 compared to 44 percent in the same period in 2012.   Consolidated financing charges and other expenses for the quarter increased 33 percent from US$9.5 million in 2012 to US$12.6 million in 2013 primarily due to higher outstanding interest-bearing debt.  ICTSI issued US$400 million of 10-year bonds in January 2013 mainly to fund its capital expenditure program for 2013 and refinance medium-term loans. 

Capital expenditures for the first quarter of 2013 amounted to US$93 million, approximately 17 percent of the US$550 million capital expenditure budget for the full year 2013.  The established budget is mainly allocated for the completion of the Company’s terminal development projects in Argentina and Mexico and the ramp-up of construction activities in Colombia and Davao, southern Philippines. 

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.