Chile Plans New Port, Seeks to Boost Innovation

Posted by Michelle Howard
Friday, May 16, 2014

Chile president Michelle Bachelet said on Friday her center-left government was planning the development of a "big scale" port in the center of the copper-exporting country.

Bachelet also estimated about $1 billion would be allocated to foster innovation in the Andean country over the next four years as she presented a batch of pro-growth plans on Friday.

Previously red-hot economic growth in world No.1 copper producer Chile is slowing on the back of softer investment and domestic demand, creating a headache for the new president.

"We have a major challenge, the challenge of growing at a good rhythm while at the same time increasing our productivity, being more competitive, diversifying our economy and becoming less vulnerable to global volatility," she said.

Many economists have long warned that Chile, like many of its Latin American peers, is too dependent on Chinese appetite for commodities and credit-led domestic consumption.

Further details about the port plans were not immediately available. The announcement comes a day after Bachelet said she was planning a new Liquefied Natural Gas (LNG) terminal in central-south Chile to help battle an energy squeeze.

(Reporting by Santiago newsroom; Editing by James Dalgleish and W Simon)

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


Pitbull Named Godfather of Norwegian’s New Cruise Ship

Norwegian Cruise Line announced today that musician Pitbull will serve as godfather for its newest ship, Norwegian Escape, slated to be christened next month in Miami.

Overturned Boat Kills Thousands of Cattle

Thousands of cattle owned by beef producer Minerva SA are thought to have died when a boat leaving a port in northern Brazil overturned, the company and Williams Shipping Agents said on Tuesday.

Refugees Give Greek Tour Operators an Extended Season

Placards in hand, travel agent Iakovos Bouchoris and his team scout for customers at Greece's busy Piraeus port, near Athens, where some 5,000 people arrived on


India Extends Tax Benefits on Bunker Fuel

India has extended the benefit of nil custom and production tax on bunker fuels to domestic coastal movement of containers, in a move to decongest its roads and reduce carbon emissions,

Shell Starts Bonga Phase 3 in Nigeria

Shell Nigeria Exploration and Production Company Ltd (SNEPCo) announced the start-up of production from the Bonga Phase 3 project.   Bonga Phase 3 is an expansion of the Bonga Main development,

Workers Evacuated After Gas Leak at Mexico Platform

Mexico's state-owned oil company Pemex said on Tuesday that it was working to control a gas leak at the Sihil A platform in the Gulf of Mexico.   Eighty-five workers have been evacuated,


Swiss Re Establishes North America Marine Team

Swiss Re Corporate Solutions has expanded its marine business by opening a North America marine office. Beginning October 1, 2015, the New York-based team will provide ocean cargo insurance,

Abu Dhabi Ports Achieve Pilot Certification

Khalifa Port and Zayed Port become first commercial ports in Middle East to achieve certification for marine pilots; Abu Dhabi Ports Marine Services gets I.S.P.

FleetWeather Opens New Office in Greece

FleetWeather Business Intelligence, a provider of maritime business intelligence solutions and consulting services for global shippers, announced the opening of a new office this October in Athens,

Government Update

India Extends Tax Benefits on Bunker Fuel

India has extended the benefit of nil custom and production tax on bunker fuels to domestic coastal movement of containers, in a move to decongest its roads and reduce carbon emissions,

Port of Piraeus Privatisation Delayed

The Greek government plans to delay the privatization process for its largest Port, Piraeus, by a few weeks due to delays caused by the September 20 election to

Crowley Awarded MSC Contract for ROCON Fleet

Crowley Maritime Corp.’s government services group has been awarded a $130 million technical management contract for five U.S. government-owned, Military Sealift

Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.1423 sec (7 req/sec)