Reports indicate that Dubai Ports World, a state-owned international port operator, cleared its last major hurdle yesterday in acquiring a British company that helps run several U.S. terminals the companies said yesterday. The acquisition of Peninsular & Oriental Steam Navigation Co., whose shareholders agreed yesterday to accept Dubai Ports World's offer of 3.9 billion pounds, or $6.8 billion, in cash, would create the world's third-largest port operator, with 51 terminals in 30 countries. It will also give the aggressive Dubai a larger foothold in the booming trade between Asia and the United States. P&O officials have said they expect the company to be run separately out of London and do not expect changes in U.S. operations in New York, New Jersey, New Orleans, Philadelphia and Baltimore. P&O is the terminal operator and stevedore for container cargo at the Seagirt and Dundalk marine terminals, where it has about 65 employees. The Dubai Ports World's purchase of P&O has not drawn opposition from world regulators or U.S. Homeland Security officials, who have labeled ports as potential terrorist targets. Dubai Ports World, formerly Dubai Ports International, began as the port authority in Dubai. In 1999, it began aggressively buying up other port operations in the Middle East and around the world, Shaerf said.
A January 5 report from Port World stated that an explosion on an oil tanker docked in the eastern Chinese province of Shandong has killed one person and left two others missing.valve-replacement works on the deck. (Source: Port World)
The Senate Committee on Homeland Security and Governmental Affairs received a Briefing from Administration personnel on the Dubai Ports World (DPW) acquisition of the Peninsular & Oriental (P&O) company. Committee Chair Susan Collins (R-ME) issued a Press Release stating that she introduced a resolution calling for a thorough review and Congressional consultation before the transaction could proceed. Source: HK Law
On March 2, the House Armed Services Committee will conduct a Hearing on the national security implications of the Dubai Ports World acquisition of P&O Ports. source: HK Law
Representative King (R-NY) introduced the Foreign Investment Security Improvement Act of 2006 (H.R. 4807) to require an investigation under the Defense Production Act of 1950 of the acquisition by Dubai Ports World of the Peninsular and Oriental Steam Navigation Company, and for other purposes. This is a companion bill to S. 2333, introduced earlier by Senator Schumer. source: HK Law
Sen. Robert Menendez, D-N.J., called on Congress on March 10 to fund technology that would scan 100 percent of the cargo containers entering America. Menendez wants Congress to add $1 billion to the 2006-07 federal budget to improve scanning technology, help developing countries improve their ability to inspect containers and provide for additional inspectors at U.S. ports. President Bush said Friday that he was troubled by the political storm that forced the reversal of a deal allowing
Mermaid Marine Australia Ltd will merge with Dubai Ports World subsidiary P&O Maritime Services Pty Ltd through a share-trading arrangement. Mermaid will issue 221.9 million shares to DP World in return for 100 per cent of the shares in P&O Maritime Services Ltd and P&O Polar Australia Pty Ltd, subject to shareholder approval. The deal will result in DP World owning 60.4 per cent of Mermaid, with existing shareholders holding the remaining 39.4 per cent.
DP World, UAE Region has been named Shipping Port of the Year for the third time at the prestigious annual Supply Chain and Transport Awards 2010 (SCATA). The award was presented to DP World, UAE Region, at a gala ceremony held at the Grosvenor House on Wednesday, June 2. The event was attended by several hundred supply chain industry leaders. Jebel Ali Port, which previously won the Outstanding Achievement and Port Operator of the Year Awards in 2007 and the Port Operator of the Year
Managing new larger-draft ships, key to future growth of Mid East trade - technology and environmental issues also major challenges for region’s ports Senior executives from the region’s largest ports and shipping organisations, including ADPC (Abu Dhabi Ports Company) and DP World, took to the stage today (Tuesday 29 March) at the World Ports and Trade Summit. Tony Douglas, CEO, ADPC (Abu Dhabi Ports Company), joined Dirk Van Den Bosch, Chief Commercial Officer
The issue of stowaways is one which has existed ever since vessels began to trade. Although the number of people attempting to gain free passage to another country has varied significantly over the years, the problem still remains, says the West P&I Club in a recent loss prevention bulletin, extracted as follows: In the twelve month period to the end of 2012 the Club handled 51 stowaway cases involving 125 persons
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.5 percent to $938 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
Striking truckers lifted their blockade of dozens of highways in Brazil after police began fining and arresting protesters, though strike organizers said they had no plans to end their stoppage now in its 10th day. Road blockages were reported at 59 locations across six states on Friday down
Federal regulators approve expanded working pact for Port of Long Beach and Port of Los Angeles to cooperate on congestion relief The ports of Long Beach and Los Angeles received federal approval Thursday to cooperate more vigorously on finding new ways to prevent congestion and cargo
Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1, a move that should improve the flow of goods through Port of Long Beach, the nation’s busiest harbor complex
French maritime transporter CMA CGM has opened a logistics complex, between the port and city of Douala, Cameroon, and set up a new firm to handle inland transportation in West African markets. Christened 3CTC (CMA CGM Cameroon Container Terminal)
Netwave has received a Type Approval Certificate from BSH in Hamburg for its new NW-6000 Voyage Data Recorder (VDR). The NW-6000 is certified against MSC 333 (90) and can be installed onboard vessels which require a new VDR. “We have already received a large amount of orders in advance of
Indian shipping minister Nitin Gadkari has said the government is working on an ambitious plan to build one smart city each at the country's 12 major ports. The plan estimates total investment of Rs 50,000 crore ($8 billion). Government moving ahead with its ambition plan to build
Ireland’s largest bulk port company, Shannon Foynes Port Company (SFPC), announced yesterday the commissioning of the first ports infrastructure project since the turn of the millennium, with a €50million capital investment programme at Foynes.
Governor Bobby Jindal and Viking Cruises Chairman Torstein Hagen announced the selection of New Orleans as the homeport for Viking River Cruises’ first North American river cruise itineraries. The Mississippi River cruises will operate from docking facilities near the French Quarter
On her maiden voyage in the AEX1 service, China Shipping Container Lines’ containership CSCL Globe, currently the world’s largest container vessel, moored at Belgium's Port of Zeebrugge after embarking on its first voyage in China last December.
WesPac Midstream LLC (WesPac), a provider of energy infrastructure and liquefied natural gas (LNG) solutions, and its affiliate Clean Marine Energy LLC (CME), the global facilitator of tailored solutions for Emission Control Area (ECA) compliance
State-run Jawaharlal Nehru Port Trust (JNPT), India’s busiest container gateway near Mumbai, is planning to build a satellite port in one of the three locations that had already been identified--Vijaydurg, Revas-Karanja and Dahanu.
The Long Beach Board of Harbor Commissioners this week appointed port industry veterans Michael Christensen and Glenn Farren to newly created management positions to enhance cargo flow and service at the Port of Long Beach. Christensen
The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long, 60-meter-wide, 195,000-ton Triple-E class vessel – equivalent in length to almost four football pitches and
The 18,300 TEU Triple E container ship Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway. The 399 metre long Munkebo Maersk, which weighs in at 195,000 tonnes and is 60 metre wide is one of the largest container vessels