Asia – Page 57
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NewsHPH might lose Manta
Hutchison Port Holdings has pulled out of the Thessaloniki terminal in Greece and is reportedly under investigation in Ecuador for allegedly failing to move on promised investments for the Manta cargo port.
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Yingkou bond issue
Shanghai''s Yingkou Port Liability company is to issue $175m in corporate bonds with a maturity of 10 years, although this will depend on market conditions. The money will not be used to finance new projects, but instead allow the company to repay bank loans and supplement working capital.
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CMH announces cut backs
China Merchants Holdings (International) is to cut back plans to develop terminals and also possibly adjust capital expenditure as the economic downturn begins to impact in China.
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NewsShare swap-shop for HPH
A giant share swap-shop has been taking place between Hutchison Port Holdings (HPH), Nippon Yusen Kabushiki Kaisha (NYK), and the Evergreen group.
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NewsBusan committed to global programme
Bucking the trend, Busan Port is to globalise its operations in the face of the economic slowdown.
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NewsPhasing in a freight station
Eredene Group has invested in a new container freight station (CFS) close to the rapidly expanding Indian port of Ennore.
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Rotterdam in Malaysian venture
Rotterdam Port Authority has signed a memorandum of understanding with Malaysia''s Palm Oil Industrial Cluster to develop the Port of Lahad Datu on the island of Borneo. The eventual port could cover an area of 5,500 hectares.
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3i invests in India
The international investment group 3i is to buy a 24% equity stake in the Krishnapatnam Port Company for $200m. This company is to develop and operate a new port on India''s east coast.
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Five in the frame for Tuticorin
Tuticorin Port Trust has shortlisted five companies for its second container terminal. These are: PSA-Sical (which operates the existing terminal), Oceanic Transport, Chettinad Logistics, Afcons Infrastructure and Larsen & Toubro. Investment of $62.65m will be required during the 30-year lease period.
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Yangtze hub port opens
Yangkou Port has opened for business in China on a man-made Island in the Yellow Sea, which is linked to the mainland by a 30 kilometre causeway.
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Major port development under way in Vietnam
Work has begun on building two deep water ports in Vietnam costing a combined $695m.
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Chinese box growth continues to slow
Figures released for October showed that volumes handled by Chinese major ports were up 6% year on year, 2.1% lower than the rate in September.
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Indira boosts Mumbai efficiency
Mumbai Port Authority says that since it transferred container handling operations to the privately owned Indira Container Terminal (ICT) there has been a marked improvement in efficiency.
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NewsChennai box terminal costs soar
The cost of building the Mega Container Terminal at Chennai Port has risen by 21% to $740m,with spiralling dredging rates playing a large part in the price hike.
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NewsWomen in Maritime reaches Asia
Port executives are playing an influential role in the imminent launch of what will be known as ''Women in Maritime Asia Region''.
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Russia helps North Korea
An agreement signed between Russia and North Korea will see the construction of a container terminal at the latter''s Port of Rajin. The project, which will cost $72m, will involve a rail connection to Russia''s Trans-Siberian railway.
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Kandla exploring new expansion areas
Kandla Port Trust has invited bids for four multi-purpose berths at Tuna Tekra, which will be the location of a special economic zone.
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New Mangalore builds berths
New Mangalore Port Trust in India is to build four new berths in the Western Dock area. One is already under construction and will be used exclusively by the Udupi Power Corporation, which will use it to handle 3m tonnes annually. Other new berths will handle project cargo and containers.
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Thumbs up for Vizinhjam
India''s Ministry of Shipping has given the go-ahead for the construction of the Vizhinjam Deepwater Container Transhipment Terminal, which will be located 16 kilometres from Thiruvanthapuram.
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NewsVietnam aspires to reach international standards
The Vietnam Sea Ports Association is to focus on 10 major measures to bring national ports up to accepted international standards.
