Salalah Port Opens New Deep-water Terminal
The Port of Salalah, a major Arab Gulf regional gateway port and transshipment hub on the Arabian Sea, has inaugurated a new deep-water General Cargo and Liquid Bulk Terminal, adding 20 million tons of dry cargo and six million tons of liquid bulk cargo annual handling capacity. The 1266 meter quay offers two 320 meter-long General Cargo berths, two 300 meter-long liquid bulk berths and a depth of 18 meters. “The new facility is able to handle a wide range of vessels, ranging from naval ships, to vessels handling limestone, cement, livestock, project cargo and other dry bulk commodities as Salalah continues to grow as a key center of trade and logistics for the region” said Port of Salalah CEO David Gledhill.
Great Lakes Ocean Policy Public Meeting
Obama Administration officials will hold their sixth regional Ocean Policy Task Force Public Meeting in Cleveland, Ohio, on October 29, 2009. The Interagency Ocean Policy Task Force, led by White House Council on Environmental Quality Chair Nancy Sutley, consists of senior-level officials from Administration agencies, departments, and offices. The Task Force is charged with developing a recommendation for a national policy that ensures protection, maintenance, and restoration of the oceans, our coasts and the Great Lakes. It will also recommend a framework for improved stewardship, and effective coastal and marine spatial planning. The public is encouraged to attend and an opportunity for public comment will be provided. Dr.
Decision in Winter Storm Shipping, Ltd Versus TPI
Sullivan & Cromwell Partners reported on the October 16 decision from the U.S. Court of Appeals for the Second Circuit which overrules the controversial 2002 decision in Winter Storm Shipping, Ltd v. TPI. Winter Storm Shipping, Ltd v. TPI dealt with havoc wreaked upon the administration of hundreds of electronic funds transfers passing through intermediary banks in New York every day. This Court of Appeals decision, which was pursued by the New York banking community, is significant in that it will significantly strengthen New York's standing as a key center for international fund transfers and bolster the U.S. dollar as the currency of choice for international business transactions.
