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Source: Campaign for America's Future
A subsidiary of International Container Terminal Services, Inc. (ICTSI) is changing hands, after the port operator and its partners forged a preliminary deal to sell all their stake in the unit concerned, ICTSI said in a disclosure recently.
ICTSI said its “subsidiary, Cebu International Container Terminal, Inc. (CICTI), is the subject of a sale and purchase agreement executed Nov. 28 by ICTSI and CICTI’s other shareholders as sellers…” and CARPDC and HKL as buyers.
Sought for comment, ICTSI Vice-President and Treasurer Rafael J. Consing, Jr. said the sale “is covered by confidentiality agreement” until it is concluded.
More at Business World Online
From the Oregonian:
Here are five key takeaways from the report, which was filed with the Australian Securities and Investments Commission (akin to the U.S. Securities and Exchange Commission).
1. Ambre Energy has had trouble raising money. The report says the deal giving Resource Capital more control is the only way for Ambre to keep operating, “particularly in light of recent unsuccessful capital raising attempts.”
2. Ambre isn’t insulated from an industry-wide downturn cutting stock prices of coal companies. Ambre isn’t publicly traded, so it doesn’t have a stock price to follow daily. But the independent expert estimated that if it were public, its stock would’ve dropped between 37 percent and 69 percent since early 2012.
Full article at the Oregonian
From the Journal of Commerce:
The majority of public comments sent to the Federal Maritime Commission regarding the proposed P3 Network were supportive of the vessel-sharing alliance among the world’s three largest global container lines.
The strong showing of support for the P3 appears to have been boosted by a form letter. Despite the uniformity of many of the public comments, the responses highlight some anxiety over the P3 and provide FMC commissioners with questions to pose to the carriers.
Speculation has raged since the three carriers announced plans for the VSA in June over the impact the P3 would have on capacity, rates and services in the world’s three largest trade lanes: the trans-Pacific, Asia-Europe and trans-Atlantic. Some of those answers came when MSC released comprehensive details of the plan in October.
More at the JOC
Source: The Chief
Source: WXOW
Source: WCF Courier
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