World News – Page 392
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Ust-Luga terminal planned
Asia Invest LTD (Kazakhstan) has signed a memorandum of interest with Ust-Luga OJSC to build a general cargo transhipment terminal at the Russian Baltic port of Ust-Luga. This 4m tonne capacity facility will require investment of $293m, with the initial phase scheduled to commence operations by 2012.
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Colombo South on schedule
The Colombo South expansion project is on schedule to open on time, according to Sri Lankan Port authority chairman Saliya Wickramasuriya. The breakwater is alone is costing $400m, as will the first container terminal to be built in the new area.
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DP World buy-back
DP World is to ask its shareholders for approval to buy back 581m of its shares. At the same time, it is considering issuing securities totalling $553m, equivalent to one third of its existing share capital.
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Muuga undeterred by construction delays
Tallinn Port Authority is pressing ahead with the initial phase of its eastern port development at Muuga, despite problems with assessing bids to undertake the necessary construction.
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Timaru future in doubt
Rail and Maritime Transport Union Timaru branch president Peter Clemens has expressed his 80 members'' concern over PrimePort Timaru''s future following three major customers recently announcing service reductions.
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Otago transhipment growth
Maersk Line''s 4,100-teu ships have made a notable contribution to the transhipping-based 25% increase in container throughput to 89,000 teu achieved by Port Otago during the six months to December 31, 2007.
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Aqaba on the move
The government of Jordan has given the go-ahead for a $5bn relocation and upgrading of the Red Sea port of Aqaba and general development of the surrounding area.
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Nautilus' given new name
California-based Nautilus International Holding Corporation has re-branded itself as Metro Ports. The group includes the Metropolitan Stevedore Co, Southeast Crescent Shipping Co, Southeast Maritime Services LLC (which holds Savannah International Terminal), and Cape Fear Bulk LLC.
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NewsYangtze river surges to new high
China''s Yangtze River container volumes rocketed 38% in 2007 on the back of booming trade, a new study has found.
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Bureaucracy delays Indian port development
Radical changes need to be made to India''s decision-making process if it is to achieve its aim of doubling port capacity to 1.5bn tonnes by 2011-12.
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Call for Australian state investment
Australia business leaders have called for state and federal governments to invest in ports and distribution hubs.
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APM quits Qasim
APM Terminals is to cede to DP World the 20% stake it holds in Qasim International Container Terminal. DP World is already the majority shareholder at QICT.
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CSN expands Sepetiba facilities
Brazilian steel company CSN is to invest $2.2bn in extending its installations at the port of Sepetiba. The project, which is scheduled for completion in 2013, aims to expand export facilities for iron ore and steel products.
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Pakistan to overhaul ports policy
The Pakistani minister responsible for ports and shipping is reviewing previous government policy on the ports sector and has promised to make necessary changes to bring it in line with international standards. In his view, there are several flaws in the existing legislation that require amendments.
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NewsSecure filling from BLT
A new Big Lift Trucks (BLT) logistics facility in Jacksonville, Florida, is to offer a secure yard for full and empty container storage, as well as expert container packing and unpacking of various cargo, including timber, steel and granite.
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Indian JV seeks opportunities
TM International Logistics Ltd, a joint-venture between Tata Steel (51%) and Germany''s Martrade (49%), is actively considering undertaking port operations beyond India, according to managing director Dibyendu Bose. At present, the company has a handling operation at Haldia dock, as well as offering various logistics services in India.
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Dispute delays Northport development
An already decade-long wrangle over legal title of the 32 hectares of seabed covered by Northport is halting plans for a new NZ$40m (US$31m) berth.
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NewsViriginia and Panama grow together
In a strategic move, the Panama Canal Authority (ACP) and the Virginia Port Authority (VPA) have reaffirmed their existing alliance through another Memorandum of Understanding (MoU).
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JNPT struck by congestion again
JNPT is once again experiencing congestion problems with reports suggesting that anything between 20,000-25,000 import-export boxes are awaiting clearance at any one time. Growing traffic is said to be exacerbating the problem.
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Japanese fund Bulgarian box terminals
Varna city council in Bulgaria has allocated a 17.5 hectare plot of land for the development of a new container terminal at the port.
