Romania Bids to Clear Danube Logjam after Ukraine Attack
Romania expects around 30 ships from Ukraine to clear customs on the Danube River over the next two days as it bids to clear a logjam in the aftermath of Wednesday's Russian attack on Ukraine's main river port at Izmail.The river and its mouth, now Ukraine's last waterborne grain export route, are backed up with vessels travelling to and from Ukrainian ports, commercial ship tracking data shows.Romanian authorities managing the waterway still expect a "peak" in traffic in August…
FSDEA to Invest in Port Infrastructure
The Fundo Soberano de Angola (FSDEA) Angola’s sovereign wealth fund, today announced that it has committed to invest $180 million in a strategic deep sea port in Angola. The commitment is made as part of FSDEA’s $1.1 billion infrastructure fund. Commenting on the project, José Filomeno dos Santos, Chairman of the Board of Directors, FSDEA stated, “Investments in the industrial sector and infrastructure support trade in the sub-Saharan region have shown high rates of profitability and resistance to the risks associated with the countries on our continent. Allocating capital to maritime infrastructure and logistical and industrial support in Angola allows diversifying other investments in the international financial markets present in FSDEA’s portfolio.
DP World to Develop Ukraine Logistics
Global trade enabler DP World has recently signed a Memorandum of Understanding (MoU) with the government of Ukraine to collaborate on matters of mutual interest, including the development of logistics capability in the country. On a recent visit to Ukraine, DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem signed the MoU with the Ukrainian Minister of Infrastructure Volodymyr Omelyan and later met with President Petro Poroshenko, Prime Minister Volodymyr Groysman, senior ministers and officials. At the meetings, Mr. Bin Sulayem also delivered a letter of intent from DP World for its P&O Maritime subsidiary to develop the tug and pilot boat services of Odessa port on the Black Sea.
NWC Decries Funding Cuts in FY 2011
The National Waterways Conference decried the inadequate funding for the Army Corps of Engineers civil works program in the Administration’s budget for fiscal year 2011. The $4.9b proposal, a 10% cut compared to FY2010 funding levels, fails to recognize the Corps’ critical role as stewards of our nation’s water resources, and the vital importance of our water resources infrastructure to our economic and environmental well-being. We had hoped that last year’s budget signified the new Administration’s understanding of and commitment to the importance of our nation’s water resources to our national prosperity. Our water resources infrastructure provides life-saving flood control…
