Frist Calls for Hold on Sea Port Deal

Wednesday, February 22, 2006
U.S. Senate Majority Leader Bill Frist, M.D. (R-TN) made the following statement on the deal proposed by Dubai Ports World of the United Arab Emirates that would give the company day-to-day management of six major U.S. sea ports:

“Recent reports that a company based in the Middle East is seeking to purchase the operating rights to several U.S. ports raise serious questions regarding the safety and security of our homeland. The decision to finalize this deal should be put on hold until the Administration conducts a more extensive review of this matter.

“It is important for Congress be involved in this process. I have requested a detailed briefing on this deal.

“If the Administration cannot delay the process, I plan on introducing legislation to ensure that the deal is placed on hold until this decision gets a more thorough review.

“This is not the first time questions have been raised about the Executive Branch's review process, led by the Committee on Foreign Investment in the United States, for these types of transactions. These deals could have a major impact on America’s security, the protection of which is our greatest responsibility. The CFIUS process needs to be more transparent and include a role for Congress that includes reviewing these deals, and possibly voiding them if necessary.”


People & Company News

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0877 sec (11 req/sec)