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The Moroccan government raised $200 million by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country’s first initial public offering this year, traders said on Monday. Marsa Maroc was established in 2006 and manages terminals at nine Moroccan ports and provides logistic services. The port operator has said it is… Read More
The City of Greater Geraldton’s total budget of $137million will include a record $78million infrastructure spend aimed at boosting our local economy and delivering a number of long overdue key projects. City of Greater Geraldton Mayor Shane Van Styn said this was the best outcome for the community. ‘We know there has been a flow… Read More
More than 50 million cubic feet of earth needed to be moved as part of the Panama Canal expansion project which consisted of four main sub-projects: 1. Third Set of Locks The project entails the construction of Neopanamax-dimension lock complexes on the Pacific and Atlantic sides. Each complex features three chambers, nine water-saving basins, a… Read More
KPA to charge shipping firms channel maintenance fee even though dredging project is yet to begin, says state DAP chief. The DAP has criticised a new tariff to be imposed on shipping firms for vessels that berth at the Kuching Port Pending terminal. On June 10, the Kuching Port Authority (KPA) announced that it will… Read More
The Panama Canal accounts for roughly five percent of world sea trade, and the expanded Panama Canal is estimated to generate a three percent increase in cargo volumes transiting the Canal. The value of insured goods transported will increase with the expanded Canal. This could result in an additional $1.25 billion in insured goods passing… Read More
On Friday, the citizens of Britain voted to leave the European Union, with widespread consequences that will take years to fully determine – including as-yet-unknown effects on shipping. The most immediate impact was felt in the markets: the S&P 500 lost all of its gains for the year to date as Wall Street suffered its… Read More
A year ago, the Port of Virginia took a big step toward securing the title “deepest water on the East Coast.” The Army Corps of Engineers and port officials signed a pair of agreements last June setting in motion the first phase of two dredging projects that have been pursued for a decade and could… Read More
One of the biggest dredging projects of the current century, the New Suez Canal was, according to experts, a titanic effort in operations, planning and production to complete within the one year deadline. Jan de Nul documents the challenge is this Whitepaper: http://www.jandenul.com/sites/default/files/news-item/attachments/article-challenge-in-logistics-new-suez-canal-project-143-1.pdf
The UK Chamber of Shipping has led the calls for calm from the maritime industry after Britons voted to leave the European Union, crashing the pound sterling to a 30-year low and wiping billions of dollars off share prices across European stock markets. Following widespread reaction from maritime interests across the United Kingdom, the trade… Read More
Given that so many in shipping were firmly behind ‘Remain’, the news this morning that the United Kingdom will leave the European Union has prompted strong reaction. Read on for initial industry comments. International Chamber of Shipping “ICS takes no view on what is a political decision by the UK people. It is simply too… Read More
The Portland Harbor Community Advisory Group held a public forum Tuesday night at Hariet Tubman Middle School to provide a better understanding for the community about the Environmental Protection Agency’s Superfund plan to decontaminate certain areas of the Willamette River. On June 8, the EPA proposed a $746 million plan that would clean up a… Read More
Headquartered in Barcelona, Spain, BYG has been manufacturing and distributing spare parts and components for the mining/earth moving, sector since 1967. Recently BYG has started to market to the dredging sector. At WODCON XXI, BYG introduced a hammerless system for cutter head teeth which offers significant advantages for dredge operators: 1.Safety: Typically Cutter Teeth are… Read More
The Royal Bank of Scotland has received bids for its Greek ship finance business, banking and financial sources familiar with the matter said, following a leap in bad shipping debts at the lender over the past few months. They told Reuters that the operation was worth about $3 billion although sources in the shipping business… Read More
The European Central Bank has launched a review of banks’ lending to the shipping industry, much of which is suffering a deep downturn, five people familiar with the situation told Reuters. The review by the ECB’s banking supervisor has raised concerns among lenders, particularly in Germany, that they may be required to set aside more… Read More
A steady downturn in river traffic could threaten funding of operations along the Ouachita River. The ton miles of barges and other shipping vessels that chart a course along the Ouachita add up to a bottom line that provides federal dollars for the Ouachita-Black Rivers Navigation Project. Such projects are expected to generate one million… Read More