Second Ivory Coast Container Port: Consortium Gets Cash

Posted by George Backwell
Friday, July 11, 2014
Container berth: File photo

Banque Atlantique, SocGen and Afreximbank have raised 200 million euros (US$272.81 million) to start a second container terminal at Abidjan port in Ivory Coast [West Africa], a banking spokesman said on Thursday.

The new terminal contract, awarded to a group led by France's Bollore last year, should boost capacity at one of Africa's busiest ports - a gateway for landlocked nations to the north and a transit point for beans from the world's top cocoa grower.

Port traffic is booming and total tonnage surpassed 21 million tonnes in 2013.

Banque Atlantique has raised 100 million euros and Societe Generale and Afreximbank gave 50 million euros each, Souleymane Diarrassouba, director general of Banque Atlantique, told Reuters. His bank is a subsidiary of Banque Populaire du Maroc.

"It's to allow the port of Abidjan to start the work on a second container terminal," he said, without giving a figure for the total cost of the project.

The port deal also includes France's Bouygues and a subsidiary of Danish shipping giant Maersk.

The contract has sparked controversy in Ivory Coast, with the trade minister criticising his own government for failing to promote competition by awarding it to Bollore.

($1 = 0.7331 Euros)

(By Loucoumane Coulibaly and Ange Aboa)

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dittmann Named Chairman of SEA Europe

Kjeld Dittmann, the Managing Director of Lyngsø Marine A/S, is the new Chairman of the European Ships and Maritime Equipment Association (SEA Europe).    He succeeds Govert Hamers,

Ex-BP Engineer Deserves New Gulf Spill Trial -US Appeals Court

A former BP Plc engineer deserves a new trial on an obstruction of justice charge related to the 2010 Gulf of Mexico oil spill, a federal appeals court ruled on Tuesday.

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Ports

Sanamar Launches 3 Tugs from New Yard

Sanmar’s new custom-built, general purpose shipyard at Altinova, Turkey, has launched three 60-metric-ton bollard pull tugs on the same day, less than five months since work first started at the yard.

Pirates and Hold-ups: Crime Strikes Venezuela's Oil Industry

When night falls over western Venezuela, armed gangs known as "pirates" sometimes ride boats into muggy Lake Maracaibo to steal equipment from oil wells.   In the country's Paraguana peninsula,

US Refiners' Group Wants Wide Debate on Oil Exports

The U.S. oil refining industry's association is not opposed to lifting the country's 40-year-old ban on crude exports as long as the move is part of a bigger effort to lower barriers to trade,

Finance

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Teekay Sells FPSO, Announces Dividend Boost

Teekay Corporation to complete sale of the Knarr FPSO and announces dividend increase of 75 percent   Teekay Corporation announced today that its board of directors

S. African Competition Watchdog Fines Japanese Shipping Firm

South Africa's competition watchdog has recommended Japanese shipping firm Nippon Yusen Kabushiki Kaisha Ltd (NYK) pay a 104 million rand ($8.5 million) penalty

Container Ships

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

Evergreen Names Penultimate L-type Containership

A naming ceremony was held for the Evergreen Group’s newest containership, Ever Lovely, the ninth of its L-type vessels to be built by CSBC Corporation in Taiwan

CMA CGM, Chinese Bank in Finance Deal

French container shipping group CMA CGM said on Tuesday it will sign a $1 billion financing agreement with the Export-Import Bank of China. Marseilles-based

Logistics

Shipping Confidence at 7-year Low -Survey

Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years,

S. African Competition Watchdog Fines Japanese Shipping Firm

South Africa's competition watchdog has recommended Japanese shipping firm Nippon Yusen Kabushiki Kaisha Ltd (NYK) pay a 104 million rand ($8.5 million) penalty

Activists Planning Protest Against Shell's Arctic Business

U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell's plans to drill for oil in the Arctic.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Ship Simulators 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: 0.2442 sec (4 req/sec)