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.
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
ISS World of Ports is responding to the demand for more collaborative marine assurance data with new feedback features, improved accessibility and online mapping tools. With safe operations always at the forefront of tanker operations, the service available at www.iss-worldofports.com provides marine assurance teams with the data to assess whether a vessel matches up with the particular requirements of load, discharge and husbandry port.
Christopher Lytle, Port of Long Beach Executive Director since November 2011, will resign to take the top post at the Port of Oakland. Lytle will remain at Long Beach until mid-July, and is expected to begin his new job in Oakland shortly thereafter
Vice President Joe Biden welcomed the U.S. Coast Guard Academy’s Class of 2013 as the Coast Guard’s newest officers, saluting their service and emphasizing the important role they play in meeting the nation’s many maritime needs.
A cutting edge ferry, which is the second of two hybrid vessels, was launched on the Clyde today at Ferguson's shipyard in Port Glasgow. The ferries are being built following a Scottish Government investment worth over £20 million, which has continued the proud heritage and tradition of
Brazil “Rotterdam of the Tropics” After spending a day exploring the sprawling Açu Superport and Industrial Complex construction site far up the northeast coast of the state of Rio de Janeiro courtesy of LLX and OSX, Claudio Paschoa
The Long Beach Board of Harbor Commissioners' energy policy aims to secure a more sustainable and resilient supply of power as demand grows. The Energy Policy declares that the Port will implement measures to increase efficiency, conservation, resiliency
The Port of Seattle is now recruiting for its Veterans Fellowship Program. The Port of Seattle says it is dedicated to helping military personnel transition from active duty to civilian employment. The port understands the importance of veterans serving their country and it is
Trade partners in Ventura County joined forces at the Port of Hueneme to kick off a program celebrating World Trade Month. The Port timely hosted this event on National Maritime Day. Participating were representatives from the U.S. Department of Commerce, the U.S
To protect the World Heritage-listed Ningaloo Coast in Western Australia’s north-west region, the Australian Maritime Safety Authority (AMSA) to establish an area ships should avoid. A new AMSA Marine Notice will recommend ships keep at least two nautical miles from the edge of Ningaloo
The hunt is on for six apprentices to undertake a 4-year programme combining study, training, & hands-on work experience in engineering. DP World London Gateway will pay an annual salary for six students to study at college and carry out work experience on-site over a four year period
The Coast Guard World War Memorial at Arlington National Cemetery was dedicated May 23, 1928, as a tribute to the Coast Guardsmen who lost their lives in World War I. During the past year, the Washington, D.C., chapter of the Chief Petty Officer Association led a collaborative effort of 37
In line with the Intertanko-led joint proposal last year, the International Maritime Organization (IMO) has agreed to a rescheduling of the International Ballast Water Management Convention implementation dates, which will smooth the installation scheduling for ships installing ballast water
A two-week voyage through four Great Lakes and the Mississippi River will bring to the Port of Houston Authority the first of three high-performance fireboats to replace the current fleet. "As the nation's busiest port in terms of foreign tonnage and home to one of the world's largest
International investors are expressing serious interest in Jamaica’s plans to develop as a world-class logistics hub with potentially millions of dollars being lined up to back the Government’s proposals. Jamaica Minister of Industry, Investment and Commerce, the Hon Anthony Hylton
Petrobras CEO, Maria das Graças Silva Foster – named one of the world’s 100 most influential people by Time magazine in 2012 – will be a keynote speaker for the New Frontiers roundtable at Nor-Shipping’s Agenda Offshore conference on June 5.
At 32.8 million tons, total seaborne cargo throughput for the first three months of 2013 put the Port of Hamburg back on a growth course. The trend in bulk cargo handling, especially, fuelled the increase in seaborne cargo handling: In the first quarter of the year a total of 10