Alaska: No Rush for Canada Ferry Project Resolution
Alaska can use an existing British Columbia ferry terminal for several more years if Canada enforces an order blocking so-called "Buy America" purchasing rules from being applied to its reconstruction, a state official said on Tuesday. A $15 million plan to overhaul the Prince Rupert ferry terminal, which is located in Canada, has escalated into a trade dispute with the United States. Alaska has refused to seek a waiver to the controversial law, designed to protect U.S. companies from foreign competition in transportation infrastructure projects. That prompted Canada on Monday to fight back by invoking rarely used anti-sanction laws that would prevent bidders on the project from agreeing to use only U.S.-made iron and steel, potentially delaying construction.
China Terminal Joint Venture for Odfjell SE
Odfjell SE has made an agreement to enter into a joint venture via its subsidiary Odfjell Terminals Asia Pte Ltd (Singapore), with Tianjin Economic-Technology Development Area (TEDA) via its subsidiary Nangang Port Company to develop a terminal and marine facilities for bulk liquid chemicals, petroleum products and gases in the Nangang Industrial Zone (Tianjin) in China. The initial phase of the joint venture will consist of three deep sea berths and have a total storage capacity of about 150,000 cubic meters. The joint venture company will be named Odfjell Terminals Nangang (Tianjin), whereby Odfjell will hold 49% ownership and hold the operational management. The initial total investment is estimated to be about USD 160 million.
