Eurogate establishes JV with MSC, and announces record results for 2003
Eurogate and Mediterranean Shipping Company (MSC) have founded MSC Gate Bremerhave, a 50:50 joint venture that will operate a terminal at Eurogate Container Terminal Bremerhaven (CT I South).
(5/10/2004)
MSC Gate Bremerhaven will handle MSC’s container ships using a 600-metre quay (two berths). The terminal is scheduled to begin operation on October 1st, with an initial volume target of 400,000 containers per year, planned to increase to 600,000.
Eurogate will be investing about €34 million in new equipment and the refurnishing of this section. Eurogate will provide the infrastructure and premises and lease them to MSC Gate on a long-term agreement, and will also rig six container cranes of post-panmax capacity and sell them to MSC Gate. MSC Gate has already ordered 20 new van carriers for delivery by October 1st.
The managing director of the company will be Harry Mohns, presently sales director of Eurogate.
In related news, Eurogate closed the 2003 business year with a record result. Net profit at €33.5 million was up 24.3% over the previous year. Revenue increased by 13.7% to €414.7 million. Together with Contship Italia, the Eurogate network handled 10.7 million TEU in 2003, 12.5% more than the previous year.
Business at Eurogate Group over 2003 saw a rise in handling volumes. Container handling at the Bremerhaven centre rose by 6.2% to 3.2 million TEU (2002: 3 million TEU). Container Terminal Hamburg, which has a higher percentage of East Asian traffic, was up 18.5% to 2 million TEU (2002: 1.7 million TEU).
Eurogate holds a 33.4% stake in Contship Italia S.p.A. of Milan, the holding company of the Italian group. 5.2 million TEU were handled at the Contship Italia centres of Gioia Tauro, La Spezia, Livorno, Cagliari, Ravenna and Salerno, 14.2% more than the previous year (2002: 4.6 million TEU). At Contship Italia, too, this increase in business led to an 8.4% rise in revenues to €220 million (2002: €203 million). The Liscont Terminal in Lisbon saw a 16.3% increase in container handling, to 279,017 TEU.
Eurogate expects to handle 11.7 million TEU in 2004.
To cope with this growth in volume, Eurogate will invest €60 million in rebuilding work at Container Terminal Hamburg, which began at the start of this year. Renovation work on Berth 1 will be completed by mid 2005. Directly after that, work will start on Berths 2 and 3.
Additionally, Eurogate has applied to extend Container Terminal Hamburg westwards towards the Petroleum Docks and Lower Elbe, with the intention of creating 350,000 m2 of new operating premises and 850 metres of berth. Depending on authorisation by the relevant authorities, work is scheduled to begin by 2008 at the latest.
Work on section CT IV of the Bremerhaven terminal is planned to start in June 2004. This new Bremerhaven section is scheduled to commence operation in 2006-7.
Tenders are expected to be issued this year for the JadeWeser Deep Water Port in Wilhemshaven. Eurogate will be applying for its operating licence.
Source : www.eyefortransport.com
Freight e-business News & Resources.
Eurogate and Mediterranean Shipping Company (MSC) have founded MSC Gate Bremerhave, a 50:50 joint venture that will operate a terminal at Eurogate Container Terminal Bremerhaven (CT I South).
(5/10/2004)
MSC Gate Bremerhaven will handle MSC’s container ships using a 600-metre quay (two berths). The terminal is scheduled to begin operation on October 1st, with an initial volume target of 400,000 containers per year, planned to increase to 600,000.
Eurogate will be investing about €34 million in new equipment and the refurnishing of this section. Eurogate will provide the infrastructure and premises and lease them to MSC Gate on a long-term agreement, and will also rig six container cranes of post-panmax capacity and sell them to MSC Gate. MSC Gate has already ordered 20 new van carriers for delivery by October 1st.
The managing director of the company will be Harry Mohns, presently sales director of Eurogate.
In related news, Eurogate closed the 2003 business year with a record result. Net profit at €33.5 million was up 24.3% over the previous year. Revenue increased by 13.7% to €414.7 million. Together with Contship Italia, the Eurogate network handled 10.7 million TEU in 2003, 12.5% more than the previous year.
Business at Eurogate Group over 2003 saw a rise in handling volumes. Container handling at the Bremerhaven centre rose by 6.2% to 3.2 million TEU (2002: 3 million TEU). Container Terminal Hamburg, which has a higher percentage of East Asian traffic, was up 18.5% to 2 million TEU (2002: 1.7 million TEU).
Eurogate holds a 33.4% stake in Contship Italia S.p.A. of Milan, the holding company of the Italian group. 5.2 million TEU were handled at the Contship Italia centres of Gioia Tauro, La Spezia, Livorno, Cagliari, Ravenna and Salerno, 14.2% more than the previous year (2002: 4.6 million TEU). At Contship Italia, too, this increase in business led to an 8.4% rise in revenues to €220 million (2002: €203 million). The Liscont Terminal in Lisbon saw a 16.3% increase in container handling, to 279,017 TEU.
Eurogate expects to handle 11.7 million TEU in 2004.
To cope with this growth in volume, Eurogate will invest €60 million in rebuilding work at Container Terminal Hamburg, which began at the start of this year. Renovation work on Berth 1 will be completed by mid 2005. Directly after that, work will start on Berths 2 and 3.
Additionally, Eurogate has applied to extend Container Terminal Hamburg westwards towards the Petroleum Docks and Lower Elbe, with the intention of creating 350,000 m2 of new operating premises and 850 metres of berth. Depending on authorisation by the relevant authorities, work is scheduled to begin by 2008 at the latest.
Work on section CT IV of the Bremerhaven terminal is planned to start in June 2004. This new Bremerhaven section is scheduled to commence operation in 2006-7.
Tenders are expected to be issued this year for the JadeWeser Deep Water Port in Wilhemshaven. Eurogate will be applying for its operating licence.
Source : www.eyefortransport.com
Freight e-business News & Resources.