DOCSLIB.ORG

New Jersey Economic Development Authority Preliminary Official Statement Is Dated December 8, 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
New Jersey Economic Development Authority Preliminary Official Statement Is Dated December 8, 2017 PRELIMINARY OFFICIAL STATEMENT IS DATED DECEMBER 8, 2017 NEW ISSUE—BOOK ENTRY ONLY Rating: “Ba1” See “RATING” herein. In the opinion of McCarter & English, LLP, Bond Counsel to the Issuer, assuming compliance by the New Jersey Economic Development Authority and Port Newark Container Terminal L.L.C. with certain tax covenants described herein, under existing law and assuming continued compliance with certain requirements of the Internal Revenue Code of 1986, as amended (the “Code”), the interest on the Series 2017 Bonds (including any original issue discount properly allocable to an owner thereof) is excludable from gross income for federal income tax purposes, except as described in this Official Statement, but is an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations. Bond Counsel is further of the opinion that interest on the Series 2017 Bonds and any gain on the sale of the Series 2017 Bonds are excluded from gross income under the existing New Jersey Gross Income Tax Act. See “TAX MATTERS” in this Official Statement. $286,260,000* NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY SPECIAL FACILITY REVENUE AND REFUNDING BONDS (PORT NEWARK CONTAINER TERMINAL L.L.C. PROJECT), SERIES 2017 Dated: Date of Delivery Due: See Inside Front Cover The Bonds referenced above (the “Series 2017 Bonds”) are being issued by the New Jersey Economic Development Authority (the “Issuer”), and the proceeds thereof will be made available to Port Newark Container Terminal L.L.C., a Delaware limited liability company (the “Company”), pursuant to a Lease Agreement dated as of December 1, 2017 by and between the Issuer and the Company, to finance a project consisting of: (a) refunding the outstanding $125,000,000 New Jersey Economic Development Authority Special Facility Revenue Bonds (Port Newark Container Terminal L.L.C. Project) Series 2003, consisting of the $62,500,000 Series 2003A and $62,500,000 Series 2003B; (b) financing a portion of the costs of expansion, renovation, construction and equipping of the Port Newark Container Terminal at Port Newark, New Jersey; (c) funding a deposit to a debt service reserve fund securing the Series 2017 Bonds; and (d) paying certain costs incurred in connection with the issuance of the Series 2017 Bonds. See “THE PROJECT” and “APPLICATION OF BOND PROCEEDS” herein. The Series 2017 Bonds will be issued pursuant to an Indenture of Trust dated as of December 1, 2017 (the “Indenture”), by and between the Issuer and U.S. Bank National Association, as trustee (the “Trustee”). The Company will unconditionally guarantee to the Trustee the full and prompt payment of the principal of and redemption premium, if any, and interest on the Series 2017 Bonds when and as the same become due and payable pursuant to a Guaranty Agreement dated as of December 1, 2017. See “SECURITY AND SOURCE OF PAYMENT FOR THE SERIES 2017 BONDS” herein. The Series 2017 Bonds will be issued in denominations of $100,000 and any integral multiple of $5,000 in excess of $100,000; provided, however, that in the event the Series 2017 Bonds achieve an Investment Grade Rating (as defined herein), the denominations shall be reduced to $5,000 and any integral multiple thereof, and will bear interest payable April 1 and October 1 of each year, commencing on April 1, 2018, at the rates and will mature on the dates specified on the inside cover page of this Official Statement. The Series 2017 Bonds are subject to optional, mandatory sinking fund, extraordinary mandatory, special and extraordinary optional redemption as described herein. See “THE SERIES 2017 BONDS.” The Series 2017 Bonds will be issuable only as fully registered bonds, without coupons, and initially will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”). See APPENDIX H hereto. THE STATE OF NEW JERSEY IS NOT OBLIGATED TO PAY, AND NEITHER THE FAITH AND CREDIT NOR TAXING POWER OF THE STATE OF NEW JERSEY IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OR REDEMPTION PRICE, IF ANY, OF OR INTEREST ON THE SERIES 2017 BONDS. THE SERIES 2017 BONDS ARE SPECIAL, LIMITED OBLIGATIONS OF THE ISSUER, PAYABLE SOLELY OUT OF THE REVENUES OR OTHER RECEIPTS, FUNDS OR MONEYS OF THE ISSUER PLEDGED UNDER THE INDENTURE, THE COLLATERAL DOCUMENTS AND FROM ANY AMOUNTS OTHERWISE AVAILABLE UNDER THE INDENTURE AND THE COLLATERAL DOCUMENTS FOR THE PAYMENT OF THE SERIES 2017 BONDS. THE SERIES 2017 BONDS DO NOT NOW AND SHALL NOT EVER CONSTITUTE A CHARGE AGAINST THE GENERAL CREDIT OF THE ISSUER. THE ISSUER HAS NO TAXING POWER. AN INVESTMENT IN THE SERIES 2017 BONDS INVOLVES CERTAIN RISKS. For more complete information with respect to the security and sources of payment for the Series 2017 Bonds and certain risks with respect thereto, see “SECURITY AND SOURCE OF PAYMENT FOR THE SERIES 2017 BONDS” and “RISK FACTORS” herein. This cover page contains certain information for quick reference only. It is not intended to be a summary of all factors relating to an investment in the Series 2017 Bonds. Investors should read this Official Statement in its entirely before making an investment decision. The Series 2017 Bonds are offered when, as and if issued by the Issuer and received by Wells Fargo Securities, LLC, as Underwriter, subject to prior sale and to approval of the validity thereof by McCarter & English, LLP, Newark, New Jersey, as Bond Counsel. Certain legal matters will be passed upon for the Company by its counsel, Cleary Gottlieb Steen & Hamilton LLP, New York, New York and DLA Piper LLP (US), Short Hills, New Jersey and for the Underwriter by its counsel, Ballard Spahr LLP, Cherry Hill, New Jersey. It is expected that the Series 2017 Bonds in definitive form will be available for delivery through the facilities of DTC on or about December __, 2017. Wells Fargo Securities Dated: December __, 2017. The information contained in this Preliminary Official Statement is subject to completion or amendment without notice. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to Under no circumstances shall this Preliminary to sell or the solicitation of an offer Official Statement constitute an offer contained in this PreliminaryThe information Official Statement is subject to completion or amendment without notice. prior of such jurisdiction. or qualification under the securities to registration be unlawful laws solicitation or sale would sale of these securities jurisdiction nor shall there be any in any in which such offer, buy * Preliminary, subject to change. $286,260,000* NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY SPECIAL FACILITY REVENUE AND REFUNDING BONDS (PORT NEWARK CONTAINER TERMINAL L.L.C. PROJECT), SERIES 2017 MATURITIES, AMOUNTS, INTEREST RATES AND YIELDS* Maturity Principal Interest CUSIP (October 1) Amount Rate Yield Number** 2021 $ 5,235,000 % % 2022 5,500,000 2023 5,775,000 2024 6,060,000 2025 6,365,000 2026 6,685,000 2027 7,015,000 Due: October 1, 2037; Principal Amount: $92,675,000; Interest Rate: ___%; Yield: ___%; CUSIP: _____ Due: October 1, 2047; Principal Amount: $150,950,000; Interest Rate: ___%; Yield: ___%; CUSIP: _____ * Preliminary, subject to change. ** CUSIP® is a registered trademark of the American Bankers Association (“ABA”). CUSIP data herein are provided by CUSIP Global Services, operated on behalf of the ABA by S&P Global Market Intelligence, a division of S&P Global Inc. The CUSIP numbers listed above is being provided solely for the convenience of Series 2017 Bondholders only at the time of issuance of the Series 2017 Bonds and none of the Issuer, the Company nor the Underwriter makes any representation with respect to such number nor undertakes any responsibility for its accuracy now or at any time in the future. The CUSIP numbers are subject to being changed after the issuance of the Series 2017 Bonds as a result of various subsequent actions including, but not limited to, a refunding in whole or in part of the Series 2017 Bonds or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of the Series 2017 Bonds. Terminal Location and Aerial View Investors should rely only on the information contained in this Official Statement. No one has been authorized to give any different information or to make any other representations. Neither the delivery of this Official Statement nor any sale hereunder shall under any circumstances create any implication that there has been no change in the affairs of the Issuer or the Company since the date hereof. These securities are not being offered in any state where the offer is not permitted. The Issuer neither has nor assumes any responsibility as to the accuracy of the information in this Official Statement (other than that under the headings “THE ISSUER” and “NO LITIGATION—The Issuer”). THE UNDERWRITER HAS PROVIDED THE FOLLOWING SENTENCE FOR INCLUSION IN THIS OFFICIAL STATEMENT. THE UNDERWRITER HAS REVIEWED THE INFORMATION IN THIS OFFICIAL STATEMENT IN ACCORDANCE WITH, AND AS PART OF, ITS RESPONSIBILITIES TO INVESTORS UNDER THE FEDERAL SECURITIES LAWS AS APPLIED TO THE FACTS AND CIRCUMSTANCES OF THIS TRANSACTION, BUT THE UNDERWRITER DOES NOT GUARANTEE THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. IN CONNECTION WITH THIS OFFERING, THE UNDERWRITER MAY OVERALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF ANY OF THE SECURITIES OFFERED HEREBY AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. CERTAIN STATEMENTS CONTAINED IN THIS OFFICIAL STATEMENT DO NOT REFLECT HISTORICAL FACTS AND THEREFORE ARE, OR MAY DEEMED TO BE, “FORWARD LOOKING STATEMENTS.” FUTURE EXPECTATIONS, OUTCOMES AND EVENTS ARE DIFFICULT TO PREDICT.
Load more

Recommended publications
  • BERTH PRODUCTIVITY the Trends, Outlook and Market Forces Impacting Ship Turnaround Times
    JULY 2014 BERTH PRODUCTIVITY The Trends, Outlook and Market Forces Impacting Ship Turnaround Times JOC Port Productivity Brought to you by JOC, powered by PIERS JOC Group Inc. WHITEPAPER, JULY 2014 BERTH PRODUCTIVITY: The Trends, Outlook and Market Forces Impacting Ship Turnaround Times TABLE OF CONTENTS Introduction. 1 Berth Productivity . 3 The Trends, Outlook and Market Forces Impacting Ship Turnaround Times Asia’s Troubled Outlook . 9 Why a Steady Dose of Mega-ships Limits the Potential for Berth Productivity Gains Racing the Clock in Europe . .11 Big Projects Pave the Way for the World’s Biggest Ships Behind the Port Productivity Numbers . .14 About the JOC Port Productivity Rankings. 16 The Rankings. 17 Validation Methodology. 23 Rankings Methodology . .23 About the Report. .24 About JOC Group Inc. .24 TABLES Rankings the Ports . 17 Top Ports: Worldwide . 17 Top Ports: Americas. .18 Top Ports: Asia. .18 Top Ports: Europe, Middle East, Africa. 18 Rankings the Terminals. .19 Top Terminals: Worldwide. .19 Top Terminals: Americas . .19 Top Terminals: Asia . .20 Top Terminals: Europe, Middle East, Africa . .20 Port Productivity by Ship Size. 21 Top Ports Globally, VESSELS LESS THAN 8,000 TEUS . .21 Top Terminals Globally, 8,000-TEU VESSELS AND LARGER . .21 Top Terminals Globally, VESSELS LESS THAN 8,000 TEUS . 22 Top Ports Globally, VESSELS 8,000+ TEUS . 22 +1.800.952.3839 | www.joc.com | www.piers.com ii © Copyright JOC Group Inc. 2014 WHITEPAPER, JULY 2014 BERTH PRODUCTIVITY: The Trends, Outlook and Market Forces Impacting Ship Turnaround Times Introduction ENHANCING BERTH PRODUCTIVITY By Peter Tirschwell Executive Vice If there’s an issue in the container shipping world that’s hotter than port President/Chief productivity, I’m not aware of it.
    [Show full text]
  • Review of Maritime Transport 2018 65
    4 In 2017, global port activity and cargo handling of containerized and bulk cargo expanded rapidly, following two years of weak performance. This expansion was in line with positive trends in the world economy and seaborne trade. Global container terminals boasted an increase in volume of about 6 per cent during the year, up from 2.1 per cent in 2016. World container port throughput stood at 752 million TEUs, reflecting an additional 42.3 million TEUs in 2017, an amount comparable to the port throughput of Shanghai, the world’s busiest port. While overall prospects for global port activity remain bright, preliminary figures point to decelerated growth in port volumes for 2018, as the growth impetus of 2017, marked by cyclical recovery and supply chain restocking factors, peters out. In addition, downside risks weighing on global shipping, such as trade policy risks, geopolitical factors and structural shifts in economies such as China, also portend a decline in port activity. Today’s port-operating landscape is characterized by heightened port competition, especially in the container market segment, where decisions by shipping alliances regarding capacity deployed, ports of call and network structure can determine the fate of a container port terminal. The framework is also being influenced by wide- PORTS ranging economic, policy and technological drivers of which digitalization is key. More than ever, ports and terminals around the world need to re-evaluate their role in global maritime logistics and prepare to embrace digitalization- driven innovations and technologies, which hold significant transformational potential. Strategic liner shipping alliances and vessel upsizing have made the relationship between container lines and ports more complex and triggered new dynamics, whereby shipping lines have stronger bargaining power and influence.
    [Show full text]
  • Study of U.S. Inland Containerized Cargo Moving Through Canadian and Mexican Seaports
    Study of U.S. Inland Containerized Cargo Moving Through Canadian and Mexican Seaports July 2012 Committee for the Study of U.S. Inland Containerized Cargo Moving Through Canadian and Mexican Seaports Richard A. Lidinsky, Jr. - Chairman Lowry A. Crook - Former Chief of Staff Ronald Murphy - Managing Director Rebecca Fenneman - General Counsel Olubukola Akande-Elemoso - Office of the Chairman Lauren Engel - Office of the General Counsel Michael Gordon - Office of the Managing Director Jason Guthrie - Office of Consumer Affairs and Dispute Resolution Services Gary Kardian - Bureau of Trade Analysis Dr. Roy Pearson - Bureau of Trade Analysis Paul Schofield - Office of the General Counsel Matthew Drenan - Summer Law Clerk Jewel Jennings-Wright - Summer Law Clerk Foreword Thirty years ago, U.S. East Coast port officials watched in wonder as containerized cargo sitting on their piers was taken away by trucks to the Port of Montreal for export. At that time, I concluded in a law review article that this diversion of container cargo was legal under Federal Maritime Commission law and regulation, but would continue to be unresolved until a solution on this cross-border traffic was reached: “Contiguous nations that are engaged in international trade in the age of containerization can compete for cargo on equal footings and ensure that their national interests, laws, public policy and economic health keep pace with technological innovations.” [Emphasis Added] The mark of a successful port is competition. Sufficient berths, state-of-the-art cranes, efficient handling, adequate acreage, easy rail and road connections, and sophisticated logistical programs facilitating transportation to hinterland destinations are all tools in the daily cargo contest.
    [Show full text]
  • U.S. Port Congestion & Related International Supply Chain Issues
    U;S; Container Port Congestion & Related International Supply Chain Issues: Causes, Consequences & Challenges (!n overview of discussions at the FM port forums) Image Sources 1) http://ecuadoratyourservice;com/live-in-ecuador/relocation-and-shipping-services/attachment/container-ship/ 2) http://www;pressherald;com/wp-content/uploads/2012/12/Port+Strike_!cco11;jpg 3) http://truckphoto;net/peterbilt-model-587-tractor-trailertruck-picture-photo;jpg 4) https://www;airandsurface;com/blog/wp-content/uploads/2014/02/Port-of_Long_each;jpg 5) http://www;performancecards;com/wp-content/uploads/2012/12/Warehouse;jpg 6) http://jurnalmaritim;com/wp-content/uploads/2015/03/arge9-21-09-km;jpg 7) "Portainer (gantry crane)" by M;Minderhoud - Own work; Licensed under Y-S! 3;0 via Wikimedia ommons - http://commons;wikimedia;org/wiki/File:Portainer_(gantry_crane);jpg#/media/File:Portainer_(gantry_crane);jpg 8) Norfolk Southern U;S; Container Port Congestion & Related International Supply Chain Issues: Causes, Consequences & Challenges (!n overview of discussions at the FM port forums) July 2015 U.S. Container Port Congestion and Related International Supply Chain Issues: Causes, Consequences and Challenges (An overview of discussions at the FMC port forums) Table of Contents Introduction Global Trade and the U.S. Economy ................................................................................................ 1 Industry Condition and Trends......................................................................................................... 3
    [Show full text]
  • Container Port Capacity and Utilization Metrics
    Tioga Container Port Capacity and Utilization Metrics Dan Smith The Tioga Group, Inc. Diagnosing the Marine Transportation System – June 27, 2012 Research sponsored by USACE Institute for Water Resources & Cargo Handling Cooperative Program www.tiogagroup.com/215-557-2142 Key Questions and Answers Tioga Key questions • How do we measure port capacity? • How do we measure utilization and productivity? • What do the metrics mean for port development? Answers • Port capacity is a function of draft, berth length, CY acreage, CY density, and operating hours • Most U.S. ports are operating at well below their inherent capacity • Individual ports and terminals face specific capacity bottlenecks, especially draft 2 Available Data and Metrics Tioga What can we do with publicly available data? • Infrastructure and operating measures are accessible • Labor and financial measures are not Available Port Data Yield Available Port Metrics Always Land Use Channel & Berth Depth TEU/Gross Acre Gross/Net CY Acres Berth Length TEU Slots/CY Acre (Density) Net/Gross Ratio Berths TEU Slots/Gross Acre CY Utilization Cranes & Types TEU/Slot (Turns) Moves/Container Gross Acres TEU/CY Acre Avg. Dwell Time Port TEU Crane Use Avg. Vessel TEU Number of Cranes Avg./Max Moves per hour Vessel Calls TEU/Crane TEU/Available Crane Hour Sometimes Vessel Calls/Crane TEU/Working Crane Hour Avg. Crane Moves/hr Crane Utilization TEU/Man-Hour CY & Rail Acres Berth Use TEU Slots Number of Berths Max Vessel DWT and TEU Estimated Length of Berths TEU/Vessel TEU Max Vessel TEU Depth of Berth & Channel Vessel TEU/Max Vessel TEU Confidential TEU/Berth Berth Utilization - TEU Costs Vessels/Berth Berth Utilization - Vessels Man-hours Balance & Tradeoffs Vessel Turn Time Cranes/Berth Net Acres/Berth Rates Gross Acres/Berth Cost/TEU Avg.
    [Show full text]
  • The Waves of Containerization: Shifts in Global Maritime Transportation David Guerrero, Jean Paul Rodrigue
    The waves of containerization: shifts in global maritime transportation David Guerrero, Jean Paul Rodrigue To cite this version: David Guerrero, Jean Paul Rodrigue. The waves of containerization: shifts in global maritime trans- portation. International Association of Maritime Economists Conference, Jul 2013, France. 26 p. hal-00877538 HAL Id: hal-00877538 https://hal.archives-ouvertes.fr/hal-00877538 Submitted on 13 Nov 2013 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. The Waves of Containerization: Shifts in Global Maritime Transportation David Guerrero SPLOTT-AME-IFSTTAR, Université Paris-Est, France. Jean-Paul Rodrigue Dept. of Global Studies & Geography, Hofstra University, Hempstead, New York, United States. Abstract This paper provides evidence of the cyclic behavior of containerization through an analysis of the phases of a Kondratieff wave (K-wave) of global container ports development. The container, like any technical innovation, has a functional (within transport chains) and geographical diffusion potential where a phase of maturity is eventually reached. Evidence from the global container port system suggests five main successive waves of containerization with a shift of the momentum from advanced economies to developing economies, but also within specific regions.
    [Show full text]
  • A Literature Review, Container Shipping Supply Chain: Planning Problems and Research Opportunities
    logistics Review A Literature Review, Container Shipping Supply Chain: Planning Problems and Research Opportunities Dongping Song School of Management, University of Liverpool, Chatham Street, Liverpool L69 7ZH, UK; [email protected] Abstract: This paper provides an overview of the container shipping supply chain (CSSC) by taking a logistics perspective, covering all major value-adding segments in CSSC including freight logistics, container logistics, vessel logistics, port/terminal logistics, and inland transport logistics. The main planning problems and research opportunities in each logistics segment are reviewed and discussed to promote further research. Moreover, the two most important challenges in CSSC, digitalization and decarbonization, are explained and discussed in detail. We raise awareness of the extreme fragmentation of CSSC that causes inefficient operations. A pathway to digitalize container shipping is proposed that requires the applications of digital technologies in various business processes across five logistics segments, and change in behaviors and relationships of stakeholders in the supply chain. We recognize that shipping decarbonization is likely to take diverse pathways with different fuel/energy systems for ships and ports. This gives rise to more research and application opportunities in the highly uncertain and complex CSSC environment. Citation: Song, D. A Literature Keywords: container shipping supply chain; transport logistics; literature review; digitalization; Review, Container Shipping Supply
    [Show full text]
  • Distributed Agent Architecture for Port Automation
    Distributed Agent Architecture for Port Automation Tom Thurston Huosheng Hu Department of Computer Science Department of Computer Science University of Essex, Colchester CO4 3SQ, U.K. University of Essex, Colchester CO4 3SQ, U.K. Email: [email protected] Email: [email protected] Abstract several levels (depth) and thus sophisticated computer software has been developed to ensure that the containers In the near future, container ports will no longer be are positioned such that they can be removed in a pre- able to expand into the surrounding land and will thus be calculated order so that space can be made for oncoming 1 unable to meet the storage requirements due to the boom cargo with relative ease. For each column, the QC must in world trade. A solution to this problem is to increase the first unload all the containers destined for this port, and container throughput of the port by reducing the amount then load all the containers scheduled for leaving this port. of time necessary to load and unload a ship. This paper Clearly there is a strict loading schedule which must be 2 presents distributed agent architecture to achieve this task. observed. Under such architecture, an intelligent planning algorithm This paper is concerned specifically with the loading is continuously optimised by the dynamic and co-operative process, however the standard unloading process is rescheduling of yard resources such as quay cranes and similar, just in reverse. In most ports around the world, the container vehicles. loading of each container requires 3 separate processes. i) Retrieval of Container from Stacking Lane -- An 1.
    [Show full text]
  • Key Performance Indicator Development for Ship-To-Shore Crane Performance Assessment in Container Terminal Operations
    Journal of Marine Science and Engineering Article Key Performance Indicator Development for Ship-to-Shore Crane Performance Assessment in Container Terminal Operations Jung-Hyun Jo 1 and Sihyun Kim 2,* 1 Department of Maintence and Repair, Hutchison Port Busan, Busan 48750, Korea; [email protected] 2 Department of Logistics, Korea Maritime and Ocean University, Busan 49112, Korea * Correspondence: [email protected] Received: 18 November 2019; Accepted: 17 December 2019; Published: 19 December 2019 Abstract: Since the introduction of containerization in 1956, its growth has led to a corresponding growth in the role of container seaborne traffic in world trade. To respond to such growth, requirements for setting up the common standards in various kinds of container harbor equipment, and identifying performance indicators to assess container handling equipment performance have increased. Although the operating systems in ship-to-shore cranes may be different at each container terminal, the four main movements are the same: hoist, trolley, gantry, and boom. By determining in this work the hour metrics for each movement, it was possible to define the key performance indicators to be adopted and assess ship-to-shore crane performance. The research results identified that the mean time between failures is decreasing because of the accumulation of long-lasting heavyweight operations, while the number of maintenance of machine parts incidents and man-hours is steadily increasing. The key performance indicators offer a management tool to guide future ship-to-shore container crane inspection and the results provide useful insights for future container crane equipment operation improvements. Keywords: container terminal; ship-to-shore crane; performance assessment; key performance indicator; mean move between failure; mean time to repair; man-hour 1.
    [Show full text]
  • Shipping Containers As Building Components
    ‘SHIPPING CONTAINERS AS BUILDING COMPONENTS’ By J. D. Smith V19.0 updated 30-04-06 University of Brighton Department of the Built Environment Supervisor: Noel Painting J.D. Smith © This work is licensed under the Creative Commons Attribution-Non- Commercial 2.0 England & Wales License. To view a copy of this licence, visit http://creativecommons.org/licenses/by-nc/2.0/uk/ or send a letter to Creative Commons, 559 Nathan Abbott Way, Stanford, California 94305, USA. J. Smith 2005-6 Shipping containers as accommodation II ABSTRACT This dissertation provides an assessment of the feasibility of using ISO shipping containers as building components. ISO shipping containers are widely available and as various pioneers have shown, can be a low cost building resource. The reasons why these units are not widely used in the UK is not clear. This document sets out to provide a view of the viability of this medium, together with an identification of problems that have occurred or may occur in implementing their use. It is the aim of this paper to show how shipping containers have been used, the methods employed, the locations in which they have been used and their purpose, this encompasses both the UK and also considers influences from the global market. The current housing needs of the UK is considered and the possibilities of satisfying this need using ISO shipping containers is assessed by means of a survey of existing container structures. This is followed by an analysis of the current UK Building Regulations (April 06) to identify the technical hurdles involved in container conversion.
    [Show full text]
  • Reducing Train Turn Times with Double Cycling in New Terminal Designs
    Reducing Train Turn Times with Double Cycling in New Terminal Designs Anne Goodchild, J. G. McCall, John Zumerchik, and Jack Lanigan, Sr. North American rail terminals need productivity improvements to and manage multiple truck scenarios (e.g., empty chassis drop off, handle increasing rail volumes and improve terminal performance. container drop off and pick up, leaving empty after drop off, leaving This paper examines the benefits of double cycling in wide-span gantry bobtail after drop off, and chassis flips—the transfer of a container terminals that use automated transfer management systems. The authors from a bad chassis). Third, wheeled operations require a fleet of yard demonstrate that the use of double cycling rather than the currently tractors to shuttle chassis, with and without containers, to and from practiced single cycling in these terminals can reduce the number of the ramp and remote storage area. Fourth, labor productivity suffers cycles required to turn a train by almost 50% in most cases and reduce from the considerable amount of time drayage and yard tractor drivers train turn time by almost 40%. This change can provide significant spend connecting and disconnecting the chassis (also increasing productivity improvements in rail terminals, increasing both efficiency equipment wear and tear). Fifth, the operation of the cranes and yard and competitiveness. tractors must be synchronized, which is made more difficult by early- and late-arriving trains. Sixth, chassis fleets entail enormous repair costs and phantom damage claims problems. And last, high container As the North American economy and international trade volumes volumes require significant real estate, especially with greater free significantly expanded in the 1980s, the introduction of double-stack container dwell time allowances.
    [Show full text]
  • Port-Rail Integration: Between Port Facilities and the Rail Network to Ensure Port Competitiveness
    www.cepal.org/transporte Issue No. 310 - Number 7 / 2012 BULLETIN FACILITATION OF TRANSPORT AND TRADE IN LATIN AMERICA AND THE CARIBBEAN This issue of FAL Bulletin analyses the role of good modal integration Port-rail integration: between port facilities and the rail network to ensure port competitiveness. challenges and It is one of the activities carried out by the ECLAC Infrastructure Services Unit under a project on sustainable opportunities transport in Ibero-America, funded by Puertos del Estado de España. for Latin America The authors are Erick Leal Matamala, Introduction Professor at the Faculty of Economics and Administrative Sciences of Chile’s At a time when connectivity to the hinterland is becoming ever more Universidad Católica de la Santísima important, many Latin American ports are upgrading their rail connections Concepción, and Gabriel Pérez Salas, to turn them into a competitive differentiator. This issue reviews the cases of Associate Economic Affairs Officer, North America, Asia-Pacific and Europe, identifying the main issues that have ECLAC Infrastructure Services Unit. For driven port-rail integration as a source of port competitiveness. It goes on to further information please contact: examine the case of Latin America in order to pinpoint the main challenges [email protected] facing its industry and the potential benefits of greater modal integration for the competitiveness of ports and the entire regional economy. Introduction Port-rail connectivity is a strategic element of port development, both in economic and competitive terms and to reduce negative externalities on people and the environment. Not only does proper rail connectivity expand I.
    [Show full text]