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TROUBLED Dubai World assets are worth less than half of its debt, with much of its value in DP World's terminal operations, according investment bank JP Morgan. Dubai World, which had been seeking to reschedule its US$50 billion debt, said last week it has arranged for 99 per cent of its remaining $25 billion debt and all company's assets were now lis...
CONTAINER congestion has again threatened the big Bangledeshi port of Chittagong with serious delays resulting from a slow down in pick-ups and delivery, forcing ships to stop unloading, reported the Financial Express of Dhaka. Chittagong port, which handles over 1.2 million containers a year, is divided into three major areas. The general cargo berth a...
THE development plan for the Xijiang River, the major waterway connecting southwestern China to the Pearl River Delta, involves adding 77 million tonnes to the cargo handling capacity of these river ports by 2012, bringing their total capacity to 100,000 tonnes. The increase in capacity is expected to relieve the heavy traffic on the river in recent yea...
THE US Port of Savannah has announced that financial year 2010 was its best year ever for exports, environmental initiatives and future plans. "The Port of Savannah experienced a remarkable recovery in FY2010 (July 1, 2009-June 30, 2010)," said Georgia Ports Authority (GPA) executive director Curtis Foltz. "The 9.7 per cent increase in TEU for the y...
Mumbai, Sep 17 (ANI): Over five weeks after two ships collided off the Mumbai coast, Deepak Tewari, Chief Executive Officer of Mediterranean Shipping Company (MSC claimed that clean up operations have been completed through specialised tug boats. Two Panamanian ships, the MSC Chitra and the MV Khalija-III collided five nautical miles off Mumbai port on ...
There are just two bids left for the port of Brisbane and its 10 million tonne coal facility, as investors Infratil and HRL Morrison have now dropped out. This leaves the Morgan Stanley and UniSuper Infrastructure Partners bid in the ring along with a group made up of Global Infrastructure Partners, the state-owned Queensland Investment Corporation and ...
Ukraine's Ministry of Transport & Communications has said it is seeking private sector investment to the tune of $470m at the ports of Illichivsk and Yuzhny. Two new terminals are planned at Illichivsk. These will cover container and ro-ro handling, both of which will need to be financed by private investment to around $289.9m for the box terminal,...
The recovery in the global economy and shipping industry has prompted the Port of Singapore to reduce its port dues concession. As from October 1, the previous 10% reduction was reduced to just 5% for vessels staying less than 10 days. The initial concession was introduced in April last year as the impact of the global downturn began to negatively a...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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