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The bureaucratic mulishness of the U.S. Army Corps of Engineers in refusing to dredge the Cuyahoga River — as required not just by congressional directives but also by the needs of major Cleveland employers who rely on the river for essential cargo — must end. The Corps’ shortsighted and economically damaging position keeps driving up… Read More
In accordance with FSUE “Rosmorport” Order No. 431 dated 06.09.2016, Kronshlot self-propelled self-unloading dredger of the TSHD 1000 project with drag head and hold capacity 1000 m3 was transferred to the North-Western Basin Branch, Rosmorport says in a press release. Kronshlot vessel became the second dredger of the same project, which is operated by the… Read More
Transnet National Ports Authority (TNPA) is on track with its R1.4 billion tug building contract and today celebrated the ceremonial launch of the fourth of its nine new tugs being built in Durban. The tug – named OSPREY in honour of the fish eagle – will serve at the Port of Saldanha. In line with… Read More
OVER the past few weeks, many American retailers have worried that Christmas, their most profitable selling season, will be ruined. In late August, Hanjin Shipping, South Korea’s biggest container line and the world’s seventh-largest, filed for receivership. Some 66 of its ships, loaded with $14.5 billion of goods, including quantities of electronics heading for America,… Read More
From a money spinner, the Calabar Port is turning into a revenue loser following its littering with wrecks and an abandoned rig worth millions of dollars. When The Nation visited the port, activities were low. Two “critical” wrecks and the abandoned Delta Queen Rig were seen there. A senior official of the Ministry of Finance… Read More
Abu Dhabi Ports has confirmed it is pressing ahead with a major expansion plan at Khalifa Port. This latest investment phase will add 1000 m of quay wall to the port and deepen its main channel and basin to 18 m from the current 16 m. The new quay wall will provide for the addition… Read More
A fresh confrontation is brewing between the West Bengal government and the National Democratic Alliance (NDA). This time over the state government’s plan to build a new port at Tajpur in East Midnapore district. The Centre fears that the proposed port at Tajpur to be built in partnership with private investors could potentially render the… Read More
Two consortiums of Western infrastructure investors are expected to lodge final bids of up to A$7 billion ($5.26 billion) for Australia’s biggest general cargo terminal, Port of Melbourne, by a Friday deadline, advisers to the bidders said. The absence of Chinese bidders for the terminal in Australia’s second-biggest city removes a potential political headache for… Read More
South Korea’s Hanjin Shipping is considering a restructuring plan to sell more than half its ships, the Wall Street Journal reported on Friday, citing people familiar with the matter. However, liquidation remained the most likely outcome for Hanjin Shipping, the newspaper cited the sources as saying. Hanjin Shipping, the world’s seventh-largest container carrier, filed for… Read More
Typhoon Meranti – the most powerful storm to hit southern China since the Communist Party took power – drove multiple vessels aground, into piers or loose from their moorings as it passed, with multiple marine casualties reported in Xiamen and Taiwan. – The container ship Gan Tai Tai Zhou dragged anchor off Xiamen and went… Read More
German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders – among the biggest backers of shipowners over the past 20 years – are behind up to a quarter of the world’s $400 billion of outstanding shipping loans, three shipping financiers… Read More
Small ports across the nation, like those in Chinook and Ilwaco, are on the cusp of a major victory in Congress that could give them more reliable access to federal dredging and harbor maintenance funds. Washington’s two U.S. Senators, Patty Murray and Maria Cantwell, announced Thursday that they have secured critical reforms to the Harbor… Read More
Kenya Ports Authorityis preparing to tender for the proposed Sh12.1 billion Kipevu Oil Terminal relocation project in Mombasa, managing director Catherine Mturi-Wairi has said. This moves the authority closer to selecting a firm which will oversee construction of the new terminal. “Detailed designs are already in place, prequalification process has been completed and a consultant… Read More
The International Longshoremen’s Association is refusing to load Hanjin Shipping containers aboard ships or allow Hanjin boxes to leave US East and Gulf Coast terminals, citing concerns about unpaid royalties and other financial obligations to the union. Multiple ILA and terminal sources said the action is directed mainly at Hanjin’s payment of container royalties, the… Read More
Shipping restructuring specialists speaking at the Capital Link New York Maritime Forum on 13 September predicted that Hanjin Shipping will ultimately be liquidated, not rehabilitated. “Clearly, it’s not ‘too big to fail’, because the Korean government did not want to pump capital into what could be considered a mismanaged company for a very long period… Read More