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
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.
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
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
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
International container shipping company CMA-CGM of France announced that it will begin service within the next couple of weeks to the Helen Delich Bentley Port of Baltimore. The Port of Baltimore has been added to CMA-CGM’s Liberty Solo service which also includes visits to ports
Somaliland expects to choose a partner to develop and manage its Berbera port by the end of the year, with construction expected to start early next year, the breakaway territory's foreign minister said on Wednesday. Mohamed Behi Yonis said the state
The American Association of Port Authorities (AAPA) applauded Senate passage over the past weekend of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), and today sent a letter to House leadership to urge making passage of TPA-2015 a priority.
Manchester cable safety seal manufacturer Roxtec has reported increased demand for its cruise ship cable and pipe seals. The firm has seen a 67 percent rise in sales for its watertight pipe and cable seals in the U.K. marine market in the last 12 months.
The IMRF, the charity supporting maritime SAR service globally, and McMurdo, a company in search and rescue and maritime domain awareness solutions, announced a partnership aiming at several key search and rescue (SAR) initiatives to be launched at next week’s World Maritime Rescue Congress
SITC International signed a strategic cooperation agreement with Qingdao Port International Co., Ltd. in Qingdao yesterday in order to further strengthen the strategic cooperation in the port and logistics market. Mr. Zheng Minghui, Chairman of Qingdao Port Group, Mr
Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.S. oil drilling firm Diamond Offshore at the Ulsan shipyard Friday.
Containerized volumes are steadily increasing on the East Coast of India. Keeping pace with the growth, Krishnapatnam Port Co. Ltd. (KPCT) now offers a new service to the Gulf sector. Simatechin association with Evergreen Line recently launched a joint CCG Service
International Longshore and Warehouse Union members have ratified a five-year contract governing pay and work rules at 29 West Coast ports, including those of Los Angeles and Long Beach. Mayor Eric Garcetti made the following statement regarding the ratification of the port labor
The U.S. Coast Guard Cutter Eagle is scheduled to arrive at Berth 14 at Prince George Wharf in Nassau, Bahamas on Thursday, May 28 as part of its 2015 cadet summer training deployment. The Eagle will be open for free public tours May 28-30.
Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility in the market as vessel operators continue to wrestle with overcapacity. Rates for transporting containers from Asia to Northern Europe
The World Food Programme will deliver a cargo of Iranian aid for Yemen once the ship carrying it reaches Djibouti's port, the U.N agency said on Friday. Earlier this week Tehran agreed to an international inspection of the vessel, the Iran Shahed
The Port of Long Beach will seek bids on the creation of a new fleet of truck chassis for peak periods of the year, complementing the existing equipment used to haul cargo containers to and from terminals. “It’s not enough for us to be a passive landlord; the industry needs
Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane. The cranes will join a fleet of 14 Kalmar ASCs at Fisherman Islands Terminal
Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will continue to be the title sponsor of the DP World Tour Championship, the season ending tournament of The Race to Dubai