Middle East – Page 18
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NewsBulk volumes up yet again at Salalah
Salalah is seeing a steep rise in bulk volumes, partially on the back of the increased appetite for fuel and steel. The port’s record 764,000 tons of cargo for May was up 31% on the same month last year.
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NewsLibyan ports caught in freeze
The European Union has added six port authorities to the now extensive list of Libyan companies and individuals blacklisted under the UN asset freeze.
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DP World trading on LSE
DP World has started trading on the London Stock Exchange. The company explains that there was no new capital raised as part of the listing as the aim was to provide an additional platform to help attract a broader range of investors. DP World shares will also continue to ...
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NewsControversial Eilat port privatisation snowballs
Despite ongoing discussions with disgruntled unions and opposition from the Ministry of Defence, Israel’s Eilat is to be sold by the state at a cost of $29m.
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NewsDP World share consolidation gets green light
DP World shareholders have approved a 1 for 20 share consolidation to “better reflect the value of the company”.
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Metals and marketing MOU
Abu Dhabi Ports Company has signed a memoriam of understanding with JadeWaserPort Logistics Zone that will boost co-operation in the aluminium, engineered metals, steel, chemical, petrochemical and pharmaceutical industries, as well as related education, marketing and distribution activities.
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NewsLibyan government claims victory over Misurata
Libya’s heavily contested port of Misurata has fallen to regime of Colonel Muammar Gaddafi, according to unconfirmed reports from the country’s Foreign Ministry.
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Investment grows for Middle East Gulf ports
Nearly all of the 35 ports in the Middle East Gulf region are currently undergoing expansion, with $46.5bn already committed. This follows $38.2bn invested up to 2008 and $38.5bn alone in 2009.
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Israel starts Eilat privatisation process
Israel''s Government Companies Authority has begun the process to privatise the port of Eilat. Bids can be made up until May 19 for a 100% stake in Eilat Port Company Limited.
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DP World proposes share consolidation
DP World is to pitch a one for 20 share consolidation to shareholders at its annual meeting on 11 May.
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NewsPotent plans for Abu Dhabi
A number of new port developments are planned in the Western (Al Gharbia) region of Abu Dhabi, adding to the emirate’s aggressive port expansion plans.
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NewsNew Basra super port mooted
Iraq''s Transport Minister has announced that a tender will be issued by the end of this year for a multi-billion-dollar port south of the city of Basra.
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No bond issue for ADPC
Abu Dhabi Ports Company has ditched its planned bonds issue later this year after failing to raise the necessary $7.2bn for its Khalifa Port and Industrial Zone development from private lenders.
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DP World rejects debt crisis
DP World has denied that it is in talks to restructure the company and seek new terms for its debt. Rumours arose following its decision to sell off its equity stake in Australian ports. However, the company says this was simply to allow it to concentrate on faster growing markets.
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NewsEgyptian terminals dealing with backlog
Against an unpredictable political situation, Egyptian ports and terminals were still on their feet and working to clear congestion in February – although this could change with little notice.
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DP World quits Mina Zayed
DP World has ceded management of Mina Zayed to Abu Dhabi Terminals. It had previously enjoyed a five-new management contract at the site. ADT is a joint-venture between Abu Dhabi Ports Company (75%) and Mubadala Infrastructure Partners (25%). However, DP World will continue in the joint-venture it currently enjoys at ...
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DP World volumes up
DP World announced it handled 49.6m teu across its 50 terminals in 2010, an increase of 14% against the prior year.
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DP World – a model worth studying
American business students would learn a great deal from DP World’s business model: that’s the conclusion from a group of academics from some of America’s leading universities who visited the company’s HQ and facilities at Jebel Ali.
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Yanbu dry bulk facility
Saudi Ports Authority has signed a $36m contract to build a dry bulk berth at Yanbu commercial port. Work will take no more than 24 months.
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Syria to upgrade ports
Syria has announced a budget of $800m to develop its ports and shipping industry by 2015, partially driven by the reconstruction of neighbouring Iraq.
