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TROUBLED Dubai World, owner of international port operator DP World, has announced that it has presented a restructuring proposal to the coordinating committee representing the company's financial creditors on the restructuring of US$23.5 billion of total financial liabilities. The proposed restructuring requires the agreement of Dubai World's creditors...
THE Grand Alliance consortium has announced it will add a call in Cai Mep, Vietnam to its South China Sea Japan Express (SCX) line serving the US west coast, with a new rotation to be introduced in May. To accommodate the call, Alliance partners Hapag-Lloyd, NYK, and Hong Kong's OOCL said that an additional vessel will be added to the route's fleet of s...
- DP World has reported better than expected results reflecting management action and the continued investment in new terminals despite the challenging macroeconomic environment and the decline in global trade experienced in 2009. Not only did the Group report a substantially smaller decline in gross volume of 8% against an expected industry decline of 12...
The US Port of Seattle ended 2009 in the black thanks in large part it says, to early, aggressive budget cuts throughout the organisation. Port staff members conducted a thorough review of all port costs and CEO Tay Yoshitani instituted mandatory holidays for staff as well as reductions in travel, training, and other expenses. These measures, implem...
- The Port of Antwerp has its eyes on becoming the “ideal maritime gateway for France”, according to CEO, Eddy Bruyninckx. Speaking at a ‘Port Day’ organised by Antwerp in Paris at the end of last week, Bruyninckx said that in 2009 some 500,000 teu were carried to and from France and that the Antwerp port community wished to furthe...
More than 42 companies have acquired the bidding rules for the $812m port concession being offered by Costa Rica in Limón province. The concession will be for a new port capable of handling panamax size vessels. Development will be in two phases: the first will create 900 metres of quay and the second a further 600 metres. Full implementation will ...
Poor port infrastructure complicates the development of transit freight traffic through the territory of the Russian Far East to Europe, Viktor Ishayev, the Russian President’s envoy to the Far Eastern Federal District said in an interview with Interfax agency. "We hear sometimes that the railroad is unable to cope with the volumes, as rail cars acc...
Cargo turnover at the state-run Odessa Commercial Sea Port (OCSP) in Ukraine is expected to reach 6.870 million tons of commodities in the first quarter of 2010, or a 6.5-percent drop from 7.352 million tons of cargoes handled in the same period last year, the OCSP press service said. Odessa Commercial Sea Port is one of the largest ports of the Black Sea...
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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