Port Said Tunnel to SCCT Opened
The opening of the Port Said tunnel, under the Suez Canal just south of Port Said last week is an important piece of the jigsaw required to position the Suez Canal Container Terminal (SCCT) as Egypt’s primary gateway terminal.Construction of the twin-tubed, 4-lane road tunnel began in 2017. Its inauguration follows the opening of the Ismailia tunnel earlier this year and the 30th June Axis road, a 10-lane highway with 2+2 dedicated lanes for trucks.With the terminals strategic location offering no deviation from the main routes on trade lanes between Asia and Europe, around 95% of SCCT’s traffic has historically been made up of transshipment volume.“The new tunnel…
APM Terminals to Support SCCT
The international container terminal operating company headquartered in The Hague, APM Terminals said that it is working closely with the government of Egypt on the final pieces of the jigsaw that will ensure the success of Egypt Vision 2030 for Port Said East Port and the Suez Canal Container Terminal (SCCT).Once in place, it is set to regain its position as one of the most competitive ports in the South and East Mediterranean region, APM said in a press release.As part of Egypt Vision 2030, the Egyptian Government has made massive investments in infrastructure. On May 5, 2019, Egypt’s President, Mr. Abdel Fattah Al-Sisi inaugurated the Ismailia tunnel…
Semco Maritime wins order for Expansion of Maersk Guardian
Semco Maritime entered into an agreement with Maersk Drilling for the expansion of accommodation rig Maersk Guardian, which will be inserted at various fields in the Danish part of the North Sea from September 2016. The order for Semco Maritime comprises installation of new accommodation blocks as a supplement to existing quarters on the jack-up rig. Semco Maritime won the order in an open tender with several Danish and foreign participants. Head of Semco Maritime’s rig division…
Norden Shuffles Executive Management Team
Danish dry cargo and tanker shipping company Dampskibsselskabet Norden A/S informs it has combined a number of management functions in order to reduce its executive management team from five to three members. “With the changes we are consolidating a number of functions creating a more streamlined organization,” Norden CEO Jan Rindbo stated in a press release. Effective immediately, Norden’s new plan sees the executive management team trimmed down to CEO Jan Rindbo, CFO Martin Badsted and executive vice president Ejner Kiel Bonderup.
Epic Gas Secures Tankship Fleet Expansion Credit
CITIC Maritime Finance says it has provided a $46.4 million senior secured credit facility to Epic Gas Ltd. headquartered in Singapore, which operates a fleet of 40 LPG and petrochemicals tankships. CITIC add that the facility was used to partially finance the acquisition of a fleet of five LPG tankers that includes three newbuildings and two modern gas carriers acquired in the secondary market. Financing from CIT was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.
Epic Gas Continues Fleet Expansion, to Open London Office
Singapore-based Epic Gas Ltd. say that following their recent order of two LPG 11,000cbm vessels from Kyokuyo Shipyard Corporation in Japan, it will add two more similar-sized newbuilds to its expanding fleet. These two 11,000 cbm vessels will be long term bareboat chartered in from Kumiai Senpaku Co., Ltd., of Japan. The first vessel will be built by Sasaki Shipyard Co., Ltd. for delivery in 2015 and the second vessel by Kyokuyo Shipyard Corporation to be delivered in 2016. “We are glad to have formed a strong partnership with a prominent ship owner like Kumiai Senpaku Co.…
Bergesen Board Recommendation Shareholders to Accept World Nordic Offer
accept the offer from World Nordic Aps to buy all shares of Bergesen. registered as shareholders as of 24 April 2003. paid on May 14 2003. On 7 April 2003 World Nordic ApS, a Danish limited company controlled by the Sohmen family, announced a mandatory cash offer for the A- and B-shares of Bergesen d.y. ASA (“Bergesen”). On 6 April 2003, World Nordic ApS entered into an agreement with Petter C. G. Sundt and Morten Sig. Bergesen to acquire their shares in Bergesen, in aggregate 16,575,106 A-shares. The price was NOK 180 per share, and included the proposed dividend of NOK 7 per share. capital of Bergesen. Pursuant to the Securities Trading Act Section 4-16, the Board of Directors of Bergesen shall make a statement regarding the offer.
