World News – Page 374
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Port Said to undertake serious development
Port Said on the Suez Canal could receive investment of $5.42bn to expand existing facilities. By 2015, the Port will be handling more than 50m containers.
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NewsHelsinki brings it together
Despite its teething problems on opening, the Helsinki port of Vuosaari finally got into its stride last week.
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NewsPD news story
Plummeting freight rates from the Far East into Northern Europe have put the spotlight on the costs of inland haulage and encouraged shippers to consider new routes, according to Martyn Pellew, PD Ports group marketing director.
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NewsLos Angeles reigns in
Only a month after announcing construction contracts of around $383.7m which would create thousands of jobs in the region, the Port of Los Angeles has decided to pull back current spending by nearly $21m as it juggles its commitments in the face of falling volumes.
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Mar del Plata 'in chaos'
The leader of the SUPA trade union at Argentina''s Port of Mar del Plata has claimed that labour activities at the port are in chaos.
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Private sector ups investment in Bilbao
By 2011, the private sector will have invested ¢ 330m ($416.8m) in the Port of Bilbao. Of that, ¢ 222m ($280.4m) will be for four bio-diesel plants and one manufacturing ethanol.
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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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Good return for Lyttelton
Lyttelton Port of Christchurch has returned a comparable 7.3% rise in net after-tax profit to NZ$10.3m (US$5.7m) and 9.2% increase in revenue to NZ$83.4m (US$45.9m) for the 2007-2008 financial year.
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Mota-Engil back in Silopor race
Mota-Engil has been readmitted to the Silopor port privatisation process following a judicial intervention, which decided that the decision to exclude it from bidding was ''excessive''. The 25-year concession includes the silos at Trafaria and Beato in the Port of Lisbon.
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Tanger-Med II gets development cash
Tanger-Med Port is to receive a loan of $180m from Tangier Mediterranean Special Agency and the Arab Fund for Economic and Social Development.
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When it comes to the crunch
When it comes to the crunch, do "green" issues, and hence sea transport, still remain important?
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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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News'Landmark' for Kiel
Construction work has begun on Kiel''s new Schwedenkai Terminal, after renovation of the old terminal building was deemed uneconomical.
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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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Los Angeles offers traffic incentives
Los Angeles Port Authority is considering coughing up $10 per teu for all new traffic that switches to the port to help offset a 5% volume decrease over the first three quarters.
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Kenyan bonds to fund port investment
Kenya is to invest $4.4bn in road and port development projects by 2012. Bonds will be issued to raise the necessary money to further develop Mombasa and build a second port at Lamu
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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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Newcastle contract awarded
An A$105m (US$68m) contract to build the port of Newcastle''s third coal terminal has been awarded to the Thiess company. The contract involves building a terminal of 33m tonnes per year capacity, by the end of next year.
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Cosco moots Australasian port investment
Cosco Group global chairperson and chief executive Captain Wei Jiafu has signalled his organisation may be weighing up investment in the Australasian port sector.
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Capacity increases for eastern ports
Two south-east European ports are expanding their container operations based on 2008''s rapid increases.
