• 2018 November 4 18:40

    APM Terminals Bahrain aims to raise $32m with IPO

    APM Terminals Bahrain plans to raise around BHD12m ($32m) through its planned initial public offering (IPO). This is the first IPO for a transport and logistics company in the Kingdom to list on the Bahrain Bourse. The listing forms part of the contractual agreement made when the port opened in 2009.

    APM Terminals Bahrain will offer 18 million shares, equivalent to 20 per cent of its issued share capital, at BHD0.66 per share. The net proceeds will be paid to its current shareholders pro-rata based on their shareholding. APM Terminals currently holds 80% of the shares and the remaining 20% of shares are held by YBA Kanoo Holdings of Bahrain, a leading diversified regional business group.

    The offer price of BHD 0.660 per share, equates to a price-to-earnings (P/E) ratio of 5.7x 2017’s net earnings of BHD 10.4 million.

    The offering will start on November 8 and will remain open until November 24. Given the strong investor appetite the company wanted to ensure that retail investors (i.e., those applying for less than 100,000 shares) have equal access to the market opportunity by allocating 30% of the shares to retail investors.

    Furthermore, retail investors will have a priority allocation for the first 15,000 shares applied for.

    APM Terminals Bahrain has an exclusive 25-year concession from the Bahrain Government to manage and operate Khalifa Bin Salman Port (KBSP). The concession, which commenced on 1 April 2009, is renewable with mutual consent of the company and the Bahrain Government.

    The concession gives APM Terminals Bahrain exclusive rights to manage all of Bahrain’s container traffic and the majority of its general cargo traffic. It prohibits the Government from building and operating another port facility in Bahrain (other than private jetties or fishing harbours) until 1 April 2024.

    APM Terminals Bahrain also has exclusive rights to provide marine services (such as pilotage and towage) to KBSP and the old Mina Salman Port (MSP). APM Terminals Bahrain can also provide pilotage services within Khawr Al Qulay’ah, Sitra anchorage and approach channel to all private jetties requiring such services, except for Arab Shipbuilding and Repair Yard. APM Terminals Bahrain also has non-exclusive rights to provide marine services outside KBSP and MSP, within the territorial waters of Bahrain.

    The port currently has a container throughput capacity of 1 million TEUs per annum, with utilisation of around 40% in 2017. There is potential to expand to 2.5 million TEUs per annum in the future.

    Over the past nine years, APM Terminals has contributed towards positioning KBSP as a hub with its world-class operations and logistical solutions, serving both the country and the wider region, in line with the Kingdom’s Economic Vision 2030.

    While APMT Bahrain continues to focus on its core service offerings within the Bahraini Export/Import segment, it expects to benefit from a number of internal and external initiatives, including ongoing discussions with feeder vessels to service the areas of Upper Gulf region out of KBSP. The port is also keen to develop preferred transhipment access to Upper Gulf states including Iraq and Kuwait.
     
    APM Terminals Bahrain sees an opportunity to secure project cargo imports for a number of planning infrastructure projects in the region, including the modernisation project by the Bahrain Petroleum Company B.S.C.(c) (BAPCO), the light rail (metro) initiative, the new Bahrain-Saudi causeway, airport expansion and various new industrial projects being streamlined by the Economic Development Board and the Ministry of Industry, Commerce & Tourism of the Kingdom of Bahrain.

    Together with the tourism authorities, APM Terminals Bahrain will also play a key role in continuing to attract international cruise lines to call at the port and including Bahrain as a destination on their itineraries. This will be part of a broader enhancement to marketing the port with shipping lines and other customers through various marketing channels including road shows, social media, press, customer visits, and participating in trade shows/conferences.




2019 July 20

11:37 USCG responds to oil slick near Port Aransas, Texas
10:56 Wallem introduces cloud-based software for simpler workflows

2019 July 19

18:10 NYK holds fleet safety promotion conferences for shipowners and ship-management companies
18:04 Incat Tasmania exports new 111 metre ferry to Spain
17:49 World's largest air-cushioned landing craft takes part in Navy Day parade rehearsal in Baltiysk
17:25 Caspian Flotilla ship crews prepare for Naval Parade
17:03 FortisBC secures first export contract for Tilbury LNG facility
16:22 Project documentation for construction of Nizhny Novgorod hydroengineering facility completed - Victor Vovk
16:03 CMA CGM announces GRR from Asia to East and South Africa
15:50 East Mining Company to invest RUB 11.5 billion in development of its coal project in Sakhalin
15:33 Moby names Damen ASD Tug 2813 Vincenzino O. in Cagliari
15:12 Cargotec posts financial report for January–June 2019
14:47 Blagoveshchensk shipyard completed state trials of hydrographic survey vessel of Project 19910
14:33 NYK recognized for implementation of advanced navigation support tool
14:12 Global Ship Lease announces new charter agreement
13:51 150 graduates of Moscow State Water Transport Academy awarded with diplomas
13:30 RF Government includes NOVATEK’s LNG terminal project into area planning scheme
13:12 Port of Long Beach releases draft Master Plan update
13:07 Epic Gas Ltd. completes acquisition of two vessels of four LPG carriers
12:24 USCG finds federal fisheries violations aboard 5 recreational fishing vessels
12:11 IMO Council condemns tanker attacks in Strait of Hormuz and Sea of Oman
11:31 Naval Group reports order intake growth in H1 to 3.9bn euro
11:14 Ice-breaking LNG carrier for Yamal LNG Project named NIKOLAY URVANTSEV
10:58 Minister of Transport of Malaysia visits World Maritime University
10:26 Saudi Arabia accedes to two important IMO treaties
09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
09:50 MABUX: Bunker market this morning, July 19
09:33 Brent Crude futures price is up 1.91% to $63.11, Light Sweet Crude – up 1.48% to $56.12
09:16 Baltic Dry Index is up to 2,130 points

2019 July 18

18:05 Future expectations for MPS Terminal 3 in the port in Tema outlined with Government delegation
17:24 PGNiG acquires interest in another gas field in the North Sea
17:18 DNV GL supports 2020 sulphur compliance with online Ship Implementation Plan
17:05 OOCL announces new Middle East / Indian Subcontinent – North Europe Service
16:35 Consortium including DEME and Jan De Nul explores pioneering high-wave offshore solar technology
16:07 Large maritime market players join hands to create high-wave offshore solar panels
15:52 State Duma makes it easier for foreign tourists to visit Russia’s Arctic
15:35 Incat Tasmania delivers new 111-metre ferry to Spain operator Naviera Armas
15:18 Hapag-Lloyd launches South-East India – Europe Express Service // IEX to start operations in October 2019
15:01 Operation ATALANTA welcomes ESPS CANARIAS
14:26 Bunker prices are slightly down at the Far East ports of Russia (graph)
14:00 Diana Shipping announces time charter contract for m/v Selina with Ausca
13:44 PortNews Media Group's anniversary celebration photo release
13:22 Aleksey Khaidukov as President of Novoship
13:00 Global Ports Holding invites proposals for Duty Free and Travel Retail operations at Malaga, Zadar, Cagliari and Catania cruise ports
12:47 East Mining Company eyes arranging offshore transshipment of coal in Kamchatka under Tata project
12:09 Wärtsilä posts financial results for January-June 2019
11:53 Construction of LNG-powered icebreakers to be financed by NOVATEK – Vyacheslav Ruksha
11:31 RF Deputy PM Maksim Akimov set a task to begin dredging in the Gulf of Ob not later than on 1 August 2019
11:09 Port of Muuga strengthened with new ferry connection to Finland
10:48 Primorsky MRC terminal to offer fully closed transshipment of loose cargo
10:30 MAN Energy Solutions gets subsea compression FEED order from Chevron
10:09 Port of Lowestoft names new state-of-the-art pilot boat
09:56 MABUX: Bunker market this morning, July 18
09:50 APM Terminals Callao launches Peru’s first digital customer platform
09:34 Brent Crude futures price is up 0.17% to $63.77, Light Sweet Crude – up 0.02% to $56.79
09:16 Baltic Dry Index is up to 2,064 points

2019 July 17

18:13 USCG responds to boat collision, assists 4 injured
17:55 LNG vessels to protect environment and increase container turnover at the Port of Riga
17:32 YAMAL LNG obtains certification for the new ISO 45001:2018 and confirms compliance with ISO 14001:2015
17:03 Qatargas delivers 3000th LNG cargo to Japan