J.P. Morgan to invest $138 mn in Spanish port of Valencia
Wednesday, 26 March 2014 J.P. Morgan Asset Management plans to invest 100 million euros (about $138 million) in an expansion project at the Spanish Mediterranean port of Valencia, maritime industry representatives said. The Valencia Port Authority approved the investment plan submitted by Noatum, the largest port operator in Spain.
The plan calls for expanding the piers and work area, as well as improving intermodal infrastructure, Noatum said.
The investment plan shows J.P. Morgan's "firm commitment" to Noatum, in which the New York-based financial giant has a majority stake that it oversees for institutional investors, and to the Port of Valencia, the company said.
Deal Reached To End Month-Long Strike At Canada’s Largest Port
(Reuters) – Negotiators on Wednesday, March 26, 2014 reached a deal to end the month-long container truck strike that has crippled operations at Canada’s largest port and slowed the transport of hundreds of millions of dollars worth of goods.
The new deal, brokered by the province, means that the more than 1,000 striking drivers will return to work at Port Metro Vancouver on Thursday morning. “This agreement means the port is open again for business starting tomorrow morning,” said British Columbia premier Christy Clark at a press conference in Victoria, the provincial capital.
The deal came after provincial politicians spent a third day debating back-to-work legislation, which would have forced the drivers to return to their rigs. That legislation has now been withdrawn by the province.
Update on strike situation at Kiel-Holtenau (Kiel Canal)
The North Chambers of the small locks in Kiel will be closed from 06 until 14.00 hrs on March 27,2014. The big south and north lock chambers will remain open to the traffic, according to WSA newsletter.