DP World to invest in Russian Ports, Infrastructure
Dubai ports operator DP World and the Russian Direct Investment Fund (RDIF) have launched a new joint venture aiming to invest in ports, transportation and logistics infrastructure in Russia, they said in a statement on Thursday. Under the name DP World Russia, the new company will focus on marine, dry ports and logistics infrastructure with potential total investments of $2 billion. Reporting by Oksana Kobzeva
Maritime's Future is Digital, Clean
Last week in Hamburg, Germany, SMM 2018 was held, the single biggest and arguably best exhibition on the maritime calendar globally. Maritime Reporter & Engineering News/MarineLink.com had a crew of seven on scene in Hamburg covering multiple, simultaneous conferences and meetings, a full schedule of social events and, of course, the signature four-day exhibition which saw nearly 2,300 exhibitors and more than 50,000 visitors.The Maritime Reporter & Engineering booth in hall A1.410 was also home to the Maritime Reporter TV 'studio'…
DP World to Develop Russian Ports
Dubai-based port operator DP World and the Russian Direct Investment Fund have launched a joint venture to develop ports, transportation and logistics infrastructure in Russia. Signed on the sidelines of the World Economic Forum in Davos, Switzerland, the deal will give DP World an 80 percent stake in the new company, while the Russian government-backed fund will hold the remainder, news agency WAM reported. The company will be called DP World Russia and over time could invest $2 billion to upgrade port infrastructure in different parts of Russia.
Zvezda Shipyard to Build an Advanced Ice Class Tanker for Rosneft
AO Rosnefteflot, a subsidiary of Rosneft, and Zvezda shipyard signed a contract during the St. Petersburg International Economic Forum for the construction of a shuttle tanker Arc6 with a deadweight of 69,000 tons. The contract provides for an option to build a second similar vessel. At the same time, a 20-year charter agreement was signed between Rosneft and Rosnefteflot. The tanker will be used for safe export of oil and petroleum products from Trebsa and Titova fields. Arc6…
Vroon Offshore Win Long-term BP ERRV Contract
Vroon Offshore Services contracted by BP for emergency response and rescue vessel (ERRV) services on the UK continental shelf. Netherlands' Vroon say that these services will be undertaken by A- and B-Class field-support vessels and a platform-supply vessel. In due course one of the field-support vessels will be replaced by a newbuilding vessel currently under construction for Vroon in China (see artist’s impression). Mark Hardie, BP’s UK Logistics Infrastructure Manager, said…
Globe Express Strengthens Local Market Presence
Market strategy focuses on delivering innovative supply chain solutions that complement Kuwait’s growing reputation as a major logistics hub. Globe Express Services announced that it has intensified its regional growth plans by providing a full array of innovative supply chain solutions in Kuwait. The company is consolidating its presence in Kuwait to take advantage of the government’s aggressive investments in large-scale logistics and transport infrastructure projects, including…
MOL Invests in PKT Logistics
Mitsui O.S.K. Lines has announced that it acquired 20.9% share in PKT Logistics Group (PKT), a leading Malaysian logistics company. PKT provides end-to-end logistics solutions comprising freight forwarding, customs brokerage, contract logistics, haulage, distribution and others, to its customers from diverse market sectors. PKT owns and operates state-of-the-art, environment-friendly warehouses at its 'One Logistics Hub' in Shah Alam, Selangor, offering over 55,000m2 of warehouse space in total.
General Mills Strategically placed in Port Salford
General Mills UK & Ireland – responsible for a range of market-leading brands, including Old El Paso, Green Giant, Betty Crocker and Nature Valley – is to be the first tenant at a new state-of-the-art distribution hub that will save 600,000 road haulage miles each year whilst providing a “future proof” solution to market trends. The 280,000 sq. ft. site at Port Salford – which will be run by food and drink logistics expert Culina Group – will act as a central hub for General Mills’ ambient brands arriving by short sea freight from Europe.
Adani Ports Profit Up
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, has announced the financial results for the fourth quarter and year ended March 31, 2016. Consolidated cargo across all ports handled by the company was 152 MMT in FY16, an increase of 5 percent, over corresponding period last year, including 3.35 million TEUs, up 17 percent from 2.87 million TEUs last year. Consolidated cargo for Q4FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India.
SOHAR Port Breaks Container Throughput Record
SOHAR has released new figures showing a solid first-half of 2017, as both the Port and Freezone continue to play a crucial role in the diversification and globalisation of Oman’s economy. Despite on-going issues in the maritime industry and the continued lull in global oil prices, container volumes in Q2 of 2017 grew by 11% from the same quarter last year, as SOHAR emerges as one of the region’s prime logistical hubs. Container throughput at the Hutchison-managed terminal has grown threefold over the past five years…
DP World H1 Earnings Jump, Mulls Iran launch
DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company. Customer demand will dictate what it will spend on developing port facilities on the Caspian Sea, which it is currently exploring with Iranian authorities. "Iran has a good land bridge of rail that will connect the Silk Route from China to Europe," Chairman Sultan Ahmed bin Sulayem said on an earnings call with reporters. "With our ports in the Gulf, we need to go into Iran," he said, without giving a timeframe for the investment. He said DP World officials visited Iran ahead of Tehran's nuclear deal with world powers in July that could see trade sanctions lifted.
DP World to acquire EZW Logisitics
EZW purchase funded from existing cash and loan facilities; DP World will also take about $859 million of EZW's debt. DP World said on Thursday it would pay $2.6 billion to major shareholder Dubai World for its EZW logistics infrastructure firm, easing the burden on the state conglomerate ahead of a $4.4 billion debt repayment next year. The deal is the latest example of Dubai's 'asset shuffle', where profitable state-owned firms have bought assets from those still struggling after the emirate's debt crisis at the turn of the decade. Dubai World is due to repay $4.4 billion in May, but is in negotiations with creditors to bring this payment forward in exchange for more time to meet a much larger payment scheduled for 2018, as well as other inducements.
DP World Signs MOU With Summa Group In Russia
Global trade enabler DP World and the Summa Group, a diversified business with significant infrastructure investments in Russia, have signed a Memorandum of Understanding (MoU) to explore investment opportunities in ports, special economic zones and inland logistics facilities in the Russian Federation. According to the MOU, the parties have decided to enter into preliminary discussions to consider the potential of a relationship between them to develop investment opportunities in ports…
Petrobras’ Could Cut Logistics Costs by R$1 bi
One of a series of management improvement measures adopted by Petrobras in the last two years, the Logistics Infrastructure Optimization Program (Infralog) should generate approximately R$1.8 billion (US$719 million) in savings for the company from the time it was created (November 2012) until the end of this year. By 2013, the program had already cut costs by around R$800 million. Petrobras’ target is to save R$4 billion (US$1.6 billion) in four years (from November 2012 to December 2016). Infralog covers logistics actions throughout Brazil, encompassing the areas of oil and natural gas exploration, production, and transportation, and refining, distribution and sale of products. The solutions adopted include adapting and expanding the capacity of pipelines serving Petrobras’ refineries.
DP World, India’s NIIF to Create USD 3 bln Investment Platform
The National Investment and Infrastructure Fund (NIIF), India’s first sovereign wealth fund, and Dubai-based ports operator DP World have announced the creation of an investment platform to invest up to $3 billion in ports, terminals, transportation and logistics businesses in India. The partnership follows the Memorandum of Understanding (MoU) signed in May 2017 and the visit to India of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, in February 2016.
DP World: Shareholders Back EZW buy, London Delisting
Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange, the Dubai-based company said on Thursday. The assent was granted at a meeting on Thursday, with the proposals received near-unanimous support from independent shareholders, DP World said in a London bourse filing. DP World last month said it would pay $2.6 billion to Dubai World for its EZW logistics infrastructure firm and would delist from the London bourse due to thin trading volumes. Dubai World owns 80.45 percent of DP World. Reporting by David French
NPCT1 to Develop New CT in Jakarta
PT. Pelabuhan Indonesia II (Persero) (“IPC”), Mitsui & Co, Ltd. (“Mitsui”), Nippon Yusen Kabushiki Kaisha (“NYK Line”) and PSA International Pte Ltd (“PSA”) have agreed to jointly participate in the construction and operation of a new container terminal at Tanjung Priok Port, Jakarta, Indonesia. This new terminal will be developed and operated by the newly established project company PT New Priok Container Terminal One (“NPCT1”). The Republic of Indonesia has in recent years experienced dramatic economic growth accompanied by a rapid increase in container traffic.
Port of Rotterdam Ties Up with Bank of China
The Bank of China and the Port of Rotterdam Authority signed a Memorandum of Understanding aimed at strengthening relations between China and the Netherlands. Through this Memorandum, the Port of Rotterdam Authority and the Bank of China, one of the top five state-owned commercial banks, re-affirm their intention to build a long-term alliance. The two parties intend to work together on identifying, attracting and developing business opportunities in, among other areas, logistics…
Panama Canal Cargo Tonnage Zooms
Strong container traffic, newly introduced segments and the Expanded Canal all contribute to the 330.7 million tons of goods welcomed through the Canal in FY16, the third highest amount ever recorded. Panama City, Panama, October 20, 2016 – At the close of the 2016 fiscal year (FY16), the Panama Canal Authority (ACP) recorded the third-highest annual tonnage in its history, welcoming 330.7 million Panama Canal tons (PC/UMS). A total of 13,114 vessels transited the Panama Canal during the fiscal period from October 1, 2015 to September 30, 2016.
Peel Ports' Cargo200 drive Secures 50 Supporters
Peel Ports has today (Thursday 19 November) announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign. Launched in May, Peel Ports called for importers and exporters whose goods began or ended their journey in the north of the UK to switch current delivery of ocean freight from south-east ports to the centrally-located Port of Liverpool. The initiative aims to cut freight mileage by 200 million miles over the next five years.
DP World, Tata Group Mull Cooperation Opportunities
Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World, has met senior executives from India’s Tata Group to explore opportunities for cooperation, knowledge sharing and best practice. Discussions covered logistics and supply chain operations, innovative customer care and creating high quality, sustainable services. The meeting was attended by Ahmed Al Haddad, Chief Operating Officer, Jafza, and Mahmood Al Bastaki, CEO, Dubai Trade. Bin Sulayem outlined DP World’s operations across 40 countries…
APL's Direct Service to Chu Lai
APL announced that APL Chu Lai, a 1,200-TEU vessel, has made her maiden direct call at the Chu Lai Tam Hiep Port on 24 March. This officially commences APL’s new weekly Chu Lai Haiphong Express (CHX) service that is delivering its first inbound shipment of automobile components from Japan trans-shipped via Shekou. The cargo has duly arrived for the newly-opened Truong Hai Automobile Joint-Stock company (THACO) – Mazda owned plant situated in the Chu Lai Open Economic Zone. Speaking at an event graced by Mr.
Campaign to Cut Haulage Miles
Peel Ports announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign. Launched in May, Peel Ports called for importers and exporters whose goods began or ended their journey in the north of the UK to switch current delivery of ocean freight from south-east ports to the centrally-located Port of Liverpool. The initiative aims to cut freight mileage by 200 million miles over the next five years.