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French shipping company CMA CGM drew down just over US$56 million, the equivalent of $7.2 billion, for the Kingston Container Terminal (KCT) development project, most of which appeared to have procured equipment. The funds came from a US$265-million pool of loans that the shipping company will draw on, as needed, as the first phase of… Read More
The House of Representatives has indicated an interest to investigate the dredging of the lower River Niger project on which several billions was sunk, before being abandoned . The House will also investigate the establishment of land port in Idah and Jamata in Kogi by Messrs Van Oord Nigeria Limited. The motion for the investigation… Read More
Wyly Gilfoil remembers when 25 million bushels of Louisiana corn and soybeans were dry docked at the state’s largest inland port in Lake Providence in 2012 before the Army Corps of Engineers was pressured by Congress to dredge the port channel and the Mighty Mississippi during a low-water drought. The Lake Providence Port director said… Read More
The Illinois River could have a brighter, cleaner future ahead. A regional coalition of county leaders and environmentalists are celebrating the announcement that the US Army Corps of Engineers will commit labor and funding to prioritize projects to revitalize the Illinois River. It’s an effort nearly 20 years in the making. The Peoria Lakes Basin… Read More
The condition of the U.S. inland waterways system has improved over the last four years. The American Society of Civil Engineers (ASCE) has released its new report card on U.S. infrastructure, and it gives waterways a slightly improved grade. In most schools, however, receiving a D would land you in the principal’s office — and… Read More
Bridlington’s new dredger is set to roll into harbour next week. It’s due to leave Inverness in Scotland at some point today before making its way down the east coast. Bridlington has been without a dredger for a number of years after it’s former appliance named ‘Gypsey Race.’ Since then, Bridlington had to rely to… Read More
DutchWorkboats in Amsterdam, specialist designers and constructors of all-purpose craft of between 5 and 15 metres, has developed a Series 10 joint dive-survey model for inshore and coastal operations which can also be used to support offshore dredging applications. Based on earlier fast survey boat versions and with a top speed of 25-30 knots, it… Read More
As the implications of President Donald Trump’s proposed federal budget take shape, leaders of local government agencies are wondering how potential cuts to federal funding might play a role in their next steps. Among those grappling with the possibilities is Mike Giari, executive director of the Port of Redwood City, for whom proposed cuts to… Read More
Vietnam’s prime minister has ordered the transport ministry to pass jurisdiction over all river dredging projects to provincial authorities amid reports some projects are causing serious erosion, a matter that has stirred public outcry. The government office on Tuesday ordered the transport ministry to pass control of these projects to the respective provinces for them… Read More
Refining NZ wants to deepen the channel into Whangarei Harbour so tankers can bring in larger shipments of crude oil. Local hapu, concerned about kaimoana beds and other harbour issues, are not sure it’s a good idea. Refining NZ is ready to front the public about its plans to deepen and straighten, a $57 million… Read More
After making the case for Enterprise Florida in Jacksonville Monday, Florida Gov. Rick Scott addressed other issues in a gaggle, including JAXPORT. Scott’s new budget has $176 million for ports, and — crucially — $31M for the long-delayed dredging of the river to deepen the channel for bigger PANAMAX ships. In Jacksonville, Scott addressed the… Read More
A groundbreaking ceremony was held for Inland Port Dillon on Friday just before noon at the site of the future port. Jim Newsome, South Carolina Ports Authority President and CEO, welcomed everyone to the future site of Inland Port Dillon and was met with a hearty round of applause from the audience. Rep. Jackie Hayes… Read More
Puducherry Chief Minister V Narayanasamy today said that the new MoU signed with Chennai Port to develop Puducherry Port as a satellite port is a boon to the union territory.Addressing a press conference here today, Mr Narayanasamy said, “the project is expected to bring in revenue to the tune of Rs 300 to 400-crore. It… Read More
Public shipping companies have never raised more money in the US capital markets than they did in 2014, a year described as “astounding” by one industry banker. According to data compiled by Fairplay, US-listed owners grossed an unprecedented USD8.17 billion via 63 offerings that year. Share pricing was far frothier in the 2003–08 super-boom years,… Read More
The creation of a National Secretariat of Ports (NSP) within Brazil’s Ministry of Transport, Ports, and Civil Aviation (MTPAC) should help the government push ahead with its $10 billion-plus port concession process. Brazil formerly had an independent port ministry, Secretaria Especial dos Portos (SEP), that oversaw the development of the country’s ports, but the SEP… Read More