Hyundai Merchant Marine liquidizes its overseas container terminals and raises $140 million
Hyundai Merchant Marine raises $140 million through the liquidation of its container terminals in the USA, the company said in its press release. HMM liquidizes its shares of CUT(California United Terminals) located in LA, USA; WUT(Washington United Terminals) located in Tacoma, USA and raises $140 million. HMMA(Hyundai Merchant Marine(America), INC.), which have 100% share of CUT and WUT will issue convertible preferred stocks. HMM selected an America Private Equity Fund, Lindsay Goldberg as a preferred bidder. Further detailed information will be dealt with after the actual inspection. HMM plans to implement an actual inspection with Lindsay Goldberg within October, and seals the deal within next 1st quarter of 2015.
Kazakhstan’s President looked through a project of expanding the port of Aktau
According to the project for increasing the port’s capacity, its cargo handling will grow to 19.5 MMT a year due to the construction of a grain terminal with a 1.5 MMT annual capacity and two terminals for general cargoes and containers with a 1.5 MMT annual capacity. Under the schedule, the first stage of the construction will be completed in December 2014.
The infrastructure development of the Caspian ports, the Trans-Caspian route, and a transport center in Mangistau region was also reported to the President. Source: UkrAgroConsult
VTTV fuel storage terminal to become operational by mid November
The first fuel tanker is expected to dock at VTT Vasiliko Terminal in mid November, marking the operation of a project that aspires to place Cyprus at the centre of the fuel transport routes.
With a total cost of €405 million the project is considered as one of the biggest foreign direct investments in Cyprus in recent years.
Τhe state-of-the-art terminal features 28 tanks with a total storage capacity of 543,000 cubic metres of core fuel (diesel, gasoline and jet fuel) a deep water marine jetty as well as road tanker loading facilities in phase one, already completed at a cost of €305 million. Phase two, scheduled to begin in mid 2015 will create an additional 13 tanks and an extra capacity of 305,000 cubic metres at a cost of €105 million.
VTT Vasiliko Ltd (VTTV) was founded in 2010 and is a subsidiary of VTTI B.V., the international company that owns and operates oil storage terminals, 50 per cent of which is owned by Dutch-owned Vitol.
VTTV, the company operating the terminal, believes that the facility, located in Vasilikos, in the island`s southern coast, is very attractive to operators as in the wider area there are oil product flows from the Black Sea to the East, from the East to the West and from Europe to the East Med and the Red Sea, as 250 trans-shipments per year take place in the open sea around Cyprus.
Floating shipping port launched in Darwin Harbour to build $34 billion gas project
In an Australian first, a large floating shipping port is operating in Darwin Harbour to assist in building the INPEX gas plant and pipeline. The ‘Hydro Deck’, which can sustain up to eight-metre tidal variations, will unload equipment from ships along the shoreline to greatly speed-up the construction of the $34 billion Ichthys LNG project
Lázaro Cárdenas investment key to meeting Mexican trade growth requirements
The Government of Mexico has announced plans to double port capacity over the next six years to meet anticipated trade growth, particularly on the trans-Pacific trade lane. In 2012, APM Terminals signed a 32-year concession for the design, construction and operation of a new deep-water terminal at the Port of Lázaro Cárdenas. The project will represent an overall investment of $900 million USD. The first phase of the construction of Terminal 2 (TEC2) will include 750 meters of quay, five ship-to-shore (STS) cranes, 22 automatic stacking cranes and two railway cranes, and will be able to accommodate very large container vessels.
A key component of the project will be an intermodal transport corridor linking the Lazaro Cardenas marine terminal with APM Terminals own intermodal facility in Mexico City serving the commercial, industrial and population center of Mexico City and beyond. Use of rail transportation will further reduce emissions associated with freight transportation, as well as safe and secure transportation of containers to inland destinations compared with truck haulage on highways.
The first 300 meters of quay are scheduled to be ready in Q1 2015, which will be followed by the installation of the container handling equipment.
BOC, Lithuanian Railways sign contract to ship oil products to Klaipeda seaport
Belarusian Oil Company (BOC) and the Lithuanian Railways signed a long-term contract to ship oil products from Belarus to the seaport of Klaipeda during the Transport and Logistics expo in Minsk, BelTA has learned.
Geraldton Expects Strong Cruise Season with 10 Calls
Radiance of the Seas in Geraldton, which is generally the first or last port on Western Australia itineraries.Located some 430 km north of Fremantle, Geraldton is generally the first or last port on Western Australia itineraries. This season, the port is expecting 10 calls, up from four last year, said Joanne Brown, cruise ship and visitor information officer, Geraldton Visitor Centre. Among the new ships calling are Holland America’s Amsterdam, and the Pacific Jewel, fitting the port into its Coral Coast voyage. “The Sea Princess is also visiting Geraldton as part of its Northern Australia Explorer cruise,” said Brown.
A tender port, Brown still pointed to Geraldton’s warm welcome pierside by a pool of meet and greet volunteers.
Zeeland Seaports recently made a start on work to extend the Westhofkade. BOW Terminal, Zeeland Seaports will extend the existing 300-metre quay by around 175 metres. The quay is expected to be ready for use in mid-2015.
The Zeeland ports occupy a prominent position when it comes to the storage and handling of project cargo for the offshore industry. In the past few years, various large offshore wind projects have been realized from Vlissingen. Several Zeeland companies are active in this market and are continually expanding their operations. As port authority, Zeeland Seaports tries to assist where possible. In order to offer BOW Terminal extra quay capacity, Zeeland Seaports therefore commissioned BAM Infra to extend the quay in the Westhofhaven.
On Oct. 8 the US Army Corps of Engineers released the Draft Integrated Feasibility Report and Environmental Impact Statement for the Post-45 Harbor Deepening project, recommending that the Charleston Harbor be deepened to 52 feet, the company said in its press release. "The Port of Charleston's ability to handle post-Panamax vessels 24 hours a day without tidal restriction is critical to the future competitiveness of our state port system," said Jim Newsome, SCPA president and CEO. "Completion of our harbor deepening project to 52 feet ensures that SCPA will continue to grow above the market average and remain a top ten port, facilitating trade and economic development for our entire state, region and nation. Source: Portnews