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.
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
Dubai-listed ports operator DP World has became sole owner of the company which operates Southampton container terminal after it bought the remaining 49 percent stake held by Associated British Ports (ABP), the company said on Monday. DP World also said it extended the license agreement for DP World Southampton for another 25 years until 2047. The company did not disclose how much it paid for ABP's stake. Associated British Ports is Britain's leading port operator
DP World UAE Region in their Circular dated 3 January 2016 have informed all Shipping Lines, Agents and Traders that no cargo or container movement will be allowed to / from Iraqi Ports except the following: City (Port) Name: Abu Foloos UN Port Code: IQFLN DPW Port Code: FLN City (Port) Name: Umm Qasr UN Port Code: IQUQR DPW Port Code: UQR City (Port) Name: Al Zubair UN Port Code: IQZUB DPW Port Code: ZUB City (Port) Name: Al Maqal Port in Basra UN Port Code: IQBSR
The International Chamber of Shipping (ICS) has published its Shipping Industry Flag State Performance Table for 2015/2016, which can be downloaded free of charge via the ICS website. The ICS Table provides an annual overview of the performance of the world’s ship registers against a
North America’s largest mining, manufacturing and agricultural companies have helped identify four top priorities to improve the competitiveness of Great Lakes shipping, and as a result, the prosperity of the entire region. These priorities will be the Chamber of Marine
Saudi Arabia and Bahrain have banned Iranian-flagged vessels from entering their waters and imposed other shipping restrictions, according to ship insurers citing local reports, potentially escalating tensions between Tehran and Riyadh.
Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop The American Association of Port Authorities (AAPA) said today it is encouraged by the potential of significant gains for landside freight transportation programs
The Port of Indiana-Burns Harbor handled 2.8 million tons of cargo in 2015, the second highest tonnage in over two decades. Following 2014's all-time record volume, the year marked only the third time the port handled 2.8 million tons or more in the port's 45-year history.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
Vessels calling ports in China’s Yangtze River Delta, including Shanghai, will be required to burn low sulphur fuel while at berth from April 1 this year. China’s Ministry of Transport announced in December last year plans to set up three ECAs: the Pearl River Delta
The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ. The merger will free the two Chinese shipping groups from competing
DP World is pleased to announce the appointment of His Excellency Sultan Ahmed bin Sulayem as Group Chairman and Chief Executive Officer with immediate effect. His Excellency became Chairman of DP World in May 2007 and has overseen DP World's expansion
Multiple media outlets including CBS News report that Royal Caribbean's new cruise ship Anthem of the Seas was hit by a strong strom, reportedly resulting in no serious injuries but causing some damage to public areas and guest staterooms. The ship is reported enroute to port in Florida.
Dubai's DP World, one of the world's biggest port operators, on Monday said its 2015 annual gross container volumes rose 2.4 percent on a like-for-like basis and increased 3 percent on a reported basis. Gross volumes totalled 61.7 million twenty-foot equivalent units (TEU) in 2015, up from 59
Dubai's DP World has appointed chairman Sultan Ahmed bin Sulayem as permanent chief executive with immediate effect, the port operator said on Monday, two weeks after he took interim charge following the retirement of the former CEO. Sulayem will hold both roles simultaneously
Edison Chouest Offshore locating shipbuilding operations, TopShip, LLC, in Gulfport, Miss. Gov. Phil Bryant and officials from Edison Chouest Offshore, an offshore energy service and supply company, officially announced today the company is locating shipbuilding operations at the Port of
French container line CMA CGM has announced imminent changes to its PCRF line service which links Northern Europe with the French West Indies, by adding two new calls at Zeebrugge and Rotterdam and increasing freight capacity on the route.
One of the world's largest container ships has been freed from a mud bank after running aground almost a week ago near Germany's largest port of Hamburg, German authorities said on Tuesday. The vessel CSCL Indian Ocean of Chinese company China Shipping Container Lines was pulled free by tugs