World News – Page 403
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NewsVolatile results dog NZ ports
A mixed bag of financials from New Zealand''s ports saw Port Taranaki turn an encouraging 114% rise in after-tax profit to NZ$4.8m (US$3.6m) and 25% increase in revenue to NZ$37m (US$28m).
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NewsDP World up Senegal investment
DP World is to invest ¢ 500m ($710.7m) in port facilities in Senegal, which is 25% more than originally agreed with the government.
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Bio-diesel plant for Gijon...
Construction has begun in the Port of Gijón of a bio-diesel plant, which is due to open in the first quarter of 2009. Production capacity will be the order of 500,000 tonnes annually, equivalent to 600m litres, under an investment of ¢ 80m ($113.7m).
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Sweet deal for Nectar
UK-based bulk handling specialist Nectar Group Limited has entered into a joint venture with India”s United Shippers Limited.
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Valencia extends Levante Quay
Valencia Port Authority has issued a tender for a 248 metre extension of Levante Quay, which has a reference price of ¢ 12.4bn ($17.6bn). Alongside draught of 16 metres will be available and the new 32,000 sq m area will be incorporated into the existing TCV Stevedoring concession.
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Brake on box traffic at Novorossisk
Tougher fines imposed on road haulage vehicles carrying overweight cargo are crippling traffic at Russia''s Novorossisk seaport, where operators claim that the only way of resolving the situation would be to double the number of trucks involved in carrying consignments.
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New Russian port
Russia''s Oleg Deripaska company is to build a new port at Imeretin Bay near Sochi capable of handling 5m tonnes a year. The port, which will cost $3bn to build, will accommodate river-sea class vessels of 5,000 dwt.
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Major new Qatari port
Qatar''s Finance Minister has announced the construction of a new $5.5bn port at Mesaieed, located to the south of Al Wakra. Driving the project is the perceived need to bring down import costs.
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NewsKPA under threat of vessel delay surcharge
To head off the threat of shipping lines imposing a $200 Vessel Delay Surcharge on each teu handled at the Port of Mombasa, Kenya Ports Authority (KPA) has introduced emergency de-congestion initiatives.
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NewsHHLA IPO
Hamburg operator HHLA is to undertake an initial public offering in November of 30% of its total equity to be listed on the Frankfurt Stock Exchange. Both private and institutional investors from Germany and abroad will be allowed to acquire shares. This follows a record-breaking 2006 and first-quarter 2007 in ...
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DP World IPO?
DP World is to raise a $2.7bn syndicated loan to finance overseas investment and gentle corporate costs.
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Box slump in California?
The ports of Los Angeles and Long Beach, which were anticipating growth this year of 5%-9%, are now warning that there may well be no increase at all in 2007, or even a slight decline.
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No to coal port at Barú
The Colombian government has refused permission to build a new coal port at Barú , a decision partly influenced by lobbying from the tourist sector, which believes that additional coal loading facilities will detract from the local environment.
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NewsIberian feature
Both Bilbao and Algeciras have pursued the risky strategy of expanding without commitments from lines, as Alex Hughes discovers
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NewsBabcock & Brown swoop on Finnish assets
Australia''s Babcock and Brown Infrastructure (BBI) has splashed out ¢ 90m ($127.7m) on two Finnish concession port operators, expanding its European portfolio.
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NewsHippo Bouys for Milford Haven
FenderCare subsidiary Hippo Marine has been selected by Milford Haven Port Authority (MHPA) to supply five navigational buoys, including moorings, for the new South Hook LNG terminal development.
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NewsSt Petersburg investment kicks off
Investment and port operations group Oslo Marine Group has committed to a three-year re-development programme at St Petersburg's Vyborg and Western ports.
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NewsCanada's Fairview eyes lucrative Asia trade
With one of North America''s deepest harbours, Canada''s Prince Rupert Fairview Container Terminal has opened for business, hoping to create a new high-speed, congestion-free trade Asia-North America corridor.
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NewsSecond chance for Sines
Sines is another Iberian port to have experienced a rollercoaster ride in its fortunes in recent years.
