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)
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
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
DP World has announced plans to build a new marina for luxury yachts at Port Rashid in Dubai. The project comes in response to an increased demand for luxury yachts. Tenders for construction will be invited soon. The first phase of the project is scheduled to open by 2018, with a capacity of more than 400 boats and sailing yachts with lengths in the range of 15 to 35 metres. The second phase will be for luxury yachts berth with length of more than 100 metres.
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.
True to its annual tradition the port of Antwerp is organizing a trade mission to India in February this year. Port Authority chairman Marc Van Peel will be accompanied on his visit to Delhi and Mumbai by Pieter De Crem, the Belgian secretary of state for Foreign Trade. The agenda includes among other things the annual Port of Antwerp reception, the presentation of an award to the Indian forwarders’ association and the opening of a new course offered by JNPT APEC Port Training Centre
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
The State Government of Odisha will partner the Ministry of Shipping for taking ahead the ‘port-led development’ agenda under Sagarmala, the flagship program of the Ministry. The State Government has confirmed 10% equity participation in the Special Purpose Venture
The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India. This study is a significant step forward in preparing a roadmap for
Port Everglades has signed a partnership agreement with the U.S. Environmental Protection Agency (EPA) to study air emissions. The EPA's Office of Transportation and Air Quality will work closely with Port Everglades to coordinate research and modeling encompassing all port-related
Lerwick Harbour’s record-breaking cruise season will hit the first of several milestones this season on Thursday (30 June) with the arrival of Azura, the largest cruise ship yet to enter the Shetland port. The P&O Cruises vessel will arrive from Akureyri, in north Iceland
The first production version of Damen’s InvaSave ballast water treatment system – intended for use at Groningen Seaports – will be on display at the upcoming ‘DelfSail’ sailing festival between June 30 and July 3 in the city of Delfzijl, the Netherlands.
LIVERPOOL City Region has launched a new £2.5 million maritime training academy which it believes is the only one in the U.K. to create vitally needed skills and become a beacon of international excellence. Hugh Baird College, Bootle
For Hutchison Port Holdings (HPH), one of the world’s leading container terminal operators, Stockholm is strategically important. In April the final permit was obtained to begin construction of the new Stockholm Norvik Port. Ports of Stockholm will build and own the container terminal
The Expanded Panama Canal is now officially open for business. During the official inauguration ceremony, Panamanian President Juan Carlos Varela and Panama Canal Administrator and CEO Jorge L. Quijano spoke to a crowd of more than 25,000 jubilant Panamanians, Canal employees
The port of Antwerp is to collaborate with Dalian Maritime University (DMU) in northern China for the next three academic years. DMU is a prestigious Chinese maritime university whose alumni include many prominent figures in the shipping industry
Chief Executive of the Maritime and Port Authority of Singapore (MPA), Andrew Tan, attended the second Port Authorities Roundtable (PAR) in Rotterdam. Hosted by the Port of Rotterdam Authority (PoR), the closed-door roundtable event brought together port authorities from major
Marking the Day of the Seafarer, United Nations Secretary-General Ban Ki-moon highlighted the role of the shipping industry in moving forward the international agenda on sustainable development and climate change. “The world is now embarking on carrying out twin plans for the
Dubai Maritime City Authority (DMCA) showcased Dubai's global maritime leadership in the presence of a high-level delegation from City of Glasgow College who commended the manner in which the outstanding experiences of the UAE maritime sector has transformed it into an internationally
Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant. The leading British port operator has ordered the two machines for its terminal in Immingham
Ministry of Shipping has formulated a new Berthing Policy for Dry Bulk Cargo for all Major Ports which will come into effect from 20th August, 2016. The objective of the new Berthing Policy is to: • Provide a standardized framework for calculation of norms
Maersk acknowledges that coffee is very special, mainly in regards to the processes and requirements involved for it’s shipping. "So we have adapted the way we work so we can meet your needs," says a statement from Maersk.