Funds Secured for 2nd Abidjan Container Port

Posted by Eric Haun
Thursday, July 10, 2014

Banque Atlantique, SocGen and Afreximbank have raised 200 million euros ($272.81 million) to start a second container terminal at Abidjan port in Ivory Coast, 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 metric tons 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)

(Reporting by Loucoumane Coulibaly and Ange Aboa; Writing by Matthew Mpoke Bigg; Editing by Emma Farge/Mark Heinrich)

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

Ports

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

First Ocean Vessel of 2015 Arrives at Port of Indiana

Northwest Indiana celebrates opening of gateway to global markets   The arrival of the 655-foot bulk carrier M/V Irma at the Port of Indiana-Burns Harbor signals

Risk & Reputation in the age of Disruption

Risks faced by today’s global businesses represent a combination of traditional concerns and newer threats that reflect changing times. The 2015 Allianz Risk Barometer,

Finance

Royal Caribbean Cuts Profit Forecast

Royal Caribbean Cruises Ltd cut its adjusted profit forecast for the year, citing a jump in fuel prices since its January forecast and a strong dollar.   Shares

Baltic Index Up Slightly on Higher Rates for Large Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose slightly on Monday due to firmer rates for the large vessel segments.

ExxonMobil President Seeks Swift Action on US LNG Exports

The United States is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves

Container Ships

Hapag-Lloyd Orders 5 Ships for More Panama Canal Trade

Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year's planned expansion of the Panama Canal,

APL, MOL, NYK Launch Joint Service

APL, Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) have together launched a new joint service between trading hubs in Asia and ports in Mexico, Colombia and Panama.

Main Sea Freight Index at Baltic Exchange Raises

The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities rose further on Friday mostly on higher capesize rates. The index tracks

News

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

Delivery Begins for HMS Prince of Wales Bridge

The bridge section of the U.K.’s second Queen Elizabeth Class aircraft carrier has been loaded out of its dock hall in Glasgow ahead of its first sea voyage to Rosyth.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1258 sec (8 req/sec)