Government Of Ecuador News

Contecon Guayaquil SA (CGSA),  subsidiary  of Manila-based International Container Terminal Services (ICTSI)  has received the government of Ecuador approval to accommodate mega vessels of up to 305 meters in length at the Port of Guayaquil’s Berths 2 and 3. "ICTSI further strengthened its market position as the main trading gateway in the entire Ecuador after recently getting the government’s nod to service larger vessels," said a press release from the company. The Ecuadorian Ministry of Transport and Public Works, through the Subsecretary of Ports and Maritime Transportation, recently gave its green light for CGSA to accommodate mega vessels of up to 305 meters in length at the Port of Guayaquil’s Berths 2 and 3.

The President of Ecuador Lenín Moreno and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem today performed a ground-breaking ceremony to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. The ceremony follows the 50-year concession the company won last year from the Government of Ecuador to build a facility with 750,000 TEU (twenty-foot container equivalent) of capacity to fuel the country’s economic growth and connect it with international markets. The $500 million initial investment (Phase 1) includes the purchase of land, dredging of a new access channel, a 20-kilometre access road and a 400-metre berth equipped to handle containers and other cargo.

Mammoet Salvage and its partner, CPT Remolcadores SA of Chile, recently responded to a State of Emergency issued by the government of Ecuador after cargo ship Galapaface 1 – loaded with 19,000 gallons of fuel, petroleum products, chemicals and tons of various cargo – ran aground while departing the island of San Cristobal. Recognizing the imminent disaster and threat of pollution to the UNESCO world heritage site, the Government of Ecuador contracted Mammoet Salvage and CPT to begin immediate operations to remove the ship.

Perenco Ecuador Limited has called on the Government of Ecuador to cease efforts to sell oil seized from Blocks 7 and 21 in defiance of orders by international arbitration tribunals, and instead to seek a negotiated solution to the dispute concerning the applicability of Law 42. Perenco Ecuador is the Operator of the two blocks in question. On February 19, 2009, the Republic of Ecuador and its oil company, Empresa Estatal Petroleos del Ecuador ("Petroecuador"), commenced a coercive process to collect from Perenco approximately $327 million they claimed were due under a 2006 Ecuadorian law ("Law 42") by which the government asserts a right to 99% of the oil revenues above an arbitrary "reference price."  In March 2009…