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Call it a race to the finish. After nearly a decade of construction, the widened Panama Canal is slated to open this June—an action that has spurred ports around the globe to take measures to prepare for the world’s biggest ships. Whether deepening their harbor channels, renovating their terminal facilities or remaining confident in their… Read More
CentrePort in the New Zealand capital of Wellington is making final preparations to lodge an application for a NZD40 million (USD27.8 million) dredging project, despite recommendations that only four ports in the country need to handle larger vessels. The port has completed its public consultation and is reviewing public feedback before proceeding, a port spokesperson… Read More
The Maryland Department of Natural Resources and The Nature Conservancy of Maryland/DC have announced the completion of a Coastal Resiliency Assessment on existing natural features that protect coastal residential communities in the state. The study identified areas that reduce the risk of coastal hazards, and determined priority areas for coastal conservation and restoration activities. “Our… Read More
The Panama Canal Authority will determine whether its third set of locks are functional after the construction consortium responsible for the project said its work is completed ahead of the scheduled June 26 opening. The authority is evaluating a report from Grupo Unidos por el Canal and will take appropriate action depending on its findings…. Read More
U.S. East Coast ports have spent billions of dollars in the last decade preparing for the large neo-Panamax ships that will transit the Panama Canal’s new locks when they open to commercial traffic. The Port of New York and New Jersey alone is spending $3.4 billion to deepen its channel to 50 feet and to… Read More
A leading Brazilian biologist who has fought for the cleanup of Rio de Janeiro’s polluted waterways called Saturday on interim President Michael Temer to release emergency funds to pay for the dredging of toxic lagoons hugging the Olympic Park. Around 650 million Brazilian reais ($184 million) were earmarked for the project years ago but it… Read More
The European Central Bank has urged German state-owned lender Bremer Landesbank to shore up its capital resources against non-performing loans in shipping, three sources familiar with the matter said. Bremer (BLB) needs another 700 million euros ($800 million) in equity, weekly magazine Focus reported earlier on Saturday, citing talks between the city-state’s finance chief and… Read More
The Los Angeles Board of Harbor Commissioners approved a $1.17 billion fiscal year 2016 and 2017 budget that projects a 5.7 percent increase in operating receipts. The budget will support the on-going infrastructure development program at the largest U.S. port. “The budget allocations approved today allow us to stay the course and continue building a… Read More
As one drives through McLeod Road, today’s I. I. Chundrigar Road and Pakistan’s equivalent of Wall Street, one is unlikely to ignore historical landmarks and skyscrapers housing state-of-the-art offices (mostly of large financial businesses) that stretch over 2 kilometers on both sides of this important artery, also referred to as Pakistan’s commercial hub. By contrast,… Read More
Union minister for shipping, road transport and highways Nitin Gadkari on Saturday, said 12 major ports and three flagship organizations –Cochin Shipyard , Dredging Corporation of India and Shipping Corporation of India – have posted a profit of up to 6,000 crore. Alongside, he announced his ministry’s plans to develop six new ports. Speaking to… Read More
At last week’s Immediasea Ship Finance Press Conference in London, there was much talk of the dilemma facing shipping companies these days. Major banks simply don’t have the same appetite for financing ships as before the crash. While top-tier companies can still get the money they need, small shipping concerns are getting squeezed out, according… Read More
Swansea channelAS much as they are natural wonders, the hundreds of estuaries and rivers along Australia’s east coast can become a nightmare for communities struggling to keep their entrances flowing freely. History has shown that the longer an estuary’s mouth is allowed to silt-up the harder and more expensive it is to remedy. There are… Read More
A bi-partisan bill that could bolster a comprehensive plan for the Upper Mississippi River region moved closer to fruition, after passage by the U.S. House of Representatives Transportation Committee on Wednesday, May 25. The Water Resources Development Act of 2016 (WRDA) would preserve funding for the United States Army Corps of Engineers’ Upper Mississippi River… Read More
After recording sluggish growth last fiscal year amid a weaker global economy, India’s major public ports got off to a healthy and promising start in fiscal 2016 and 2017, which began April 1, but inadequate infrastructure and other bottlenecks could dampen that growth in the coming months. In terms of container handling, major ports experienced… Read More
The U.S. House Transportation and Infrastructure Committee has moved to enhance navigation and infrastructure funding for America’s ports with the passing of H.R. 5303, the bipartisan Water Resources Development Act (WRDA) of 2016. “The legislation will strengthen our coastal communities and our environment, create and sustain jobs, and enhance navigation to enable our ports to… Read More