Tanker cargoes disrupted as Yemeni pipeline is blown up
TANKERS face new disruptions to cargo loading, following the blowing up of a major pipeline in Yemen, affecting crude supplies from the pipeline to the Ras Isa export terminal on the Red Sea. The pipeline was blown up by Yemeni tribesmen campaigning for a larger share of jobs and government...
Thessaloniki port takes acquisition bids from 8 contenders
Hellenic Republic Asset Development Fund (HRADF) board has approved of eight potential investors to bid for a 67 per cent stake in Thessaloniki Port Authority.
Qualified are APM Terminals, Deutsche Invest Equity Partners, Duferco Particiption Holding, International Container Terminal Services, Mitsui & Co, DP World, Russian Railways JSC/GEK TERNA and Yilport Holding.
The board also approved the key tender documents including the Request for Proposals (RfP), the draft Sale Purchase Agreement (SPA) and the draft Shareholders Agreement (SHA), reported Reuters.
During the tender phase, the qualified investors will gain access to detailed information about the asset and the terms of the transaction via a virtual data room.
Daewoo Mangalia - Romania’s largest shipyard, busiest commercial shipbuilder in Europe
Daewoo Mangalia Heavy Industries (DMHI), Romania’s largest shipyard, currently has USD 1.34 billion ongoing contracts, which makes it the third largest shipyard in Europe by activity volume and the largest one on the commercial shipbuilding segment, according to Romania’s Economy Ministry.
The shipyard is 51 percent controlled by South Korean group Daewoo, with the remaining 49 percent of its shares controlled by the Romanian state. “Even if we are minority shareholders, we must help the company become the strongest shipbuilder in the Black Sea region and in Europe,” said Romanian economy minister Constantin Nita, who visited the shipyard on Thursday, July 10.
In 2013, the company had a turnover of EUR 271 million and losses of EUR 24 million. It employs 2,600 people directly, but supports a total of 6,800 workplaces directly and indirectly.
The shipyard is working on large scale ships. It recently delivered the largest auto carrier ever built in the Black Sea and Mediterranean basin.
Source: Romania Insider
Djibouti Opposition Blames Politics for DP World Concession Row
Djiboutian opposition leader Abdourahman Boreh blamed his rivalry with President Ismail Omar Guelleh for the government’s decision to cancel DP World (DPW)’s concession at the country’s port.
Boreh, a presidential candidate in elections in 2011, also denied any wrongdoing during his tenure as chairman of the Djibouti Ports and Free Zones Authority. Djibouti’s government accuses Boreh of misusing his position to obtain “significant personal advantages” and is claiming $150 million in damages from him in proceedings in London, Dubai, Paris and Singapore. Djibouti’s $1.2 billion economy relies on services related to the country’s location on the Red Sea, one of the world’s busiest shipping lanes. Transportation accounts for a third of gross domestic product in the nation, which is targeting increasing capacity at Doraleh to 3 million containers a year by 2015. DP World is the world’s third-biggest ports operator.
The International Maritime Transportation Facilitation Committee (FAL Committee), a consultation platform of maritime sector entities, held an “urgent” meeting in the Cameroonian economic capital in order to discuss “the crisis the Douala Port has been facing for 9 months,” states a release published by the organisation’s president, André Fotso, who is also president of GICAM, the business leader association.
This “disconcerting situation at Douala Port” involves “the bottlenecking of the area and other surrounding factors which are causing a slowdown in handling and also extended waiting times for ships at port. This leads to exponential increases in waiting times and cost, both for imports and exports, with negative repercussions for the economy and Cameroon’s image at a time when the government and stakeholders are seeking to accelerate growth,” the FAL Committee goes on to explain.
At the root of this situation, the Committee finds that there is “the surpassing of the port’s structural capacity, the surpassing of the various concession holders’ operational capacities, the sudden influx of products to be processed, particularly wood, after the re-opening of the Central African border, the weak application of some procedures and the inadequacy of some in this congested situation…”
In addition, the FAL Committee notes, “the holding of damaged merchandise (for example, cement imported from 2010), the recurring breakdowns of the scanner though it is a facilitation tool, the extended and disproportionate occupying of space by trucks sometimes waiting to be equipped with GPS capabilities, outstanding deposits which stifle customs brokers’ cash-flow and slowdown the release of merchandise.”
Facing this litany of problems, participants at the July 1 crisis meeting, “identified exceptional measures (14 in total) to be adopted in the coming days to resolve the current situation.” The FAL Committee explains that these include the temporary suspension of logs on the grounds, the lightening of issuance procedures for wood loading documentation, the provision of new storage areas for merchandise, the re-opening of the Kribi wood park, the removal of the cement stocked since 2010 and improving the operational hours at the port.
Source: Business In Cameroon
The Department of Trade and Industry (DTI)said the impact of the port-congestion dilemma in Manila has cast doubt on the government’s target of achieving 8-percent to 10-percent growth in exports this year.
Trade Secretary Gregory L. Domingo said the disruption in the operations of importers and exporters caused by the port congestion will translate to slower growth for the year.
However, Domingo remains optimistic that the export sector will still grow faster than the 5.8 percent-to-7.2 percent growth range of both merchandise and services exports seen in 2013.
The trade secretary earlier in the year predicted that exports for 2014 will grow by 8 percent to 10 percent, from 2013’s $75.5 billion, due mainly continued from A1
to the foreseen recovery of the electronics sector.
The said sector contributes the largest share in the Philippines’s export receipts, at 40 percent as of end-April.
Hamburg Port Expects Court to Approve Dredging After Years of Delay
Hamburg expects a court to clear the path for dredging the navigation channel in the river Elbe in September, allowing for a rise in cargo volumes at Europe’s second-biggest container port after years of delay.
The city believes it will overcome a lawsuit from environmental groups NABU and BUND at hearings at Germany’s highest administrative court in Leipzig starting July 15, Hamburg city Economy Minister Frank Horch said in an interview.
“The European Commission has already approved the adjustment of the navigation channel following a diligent examination of the project,” Horch said. “That makes us hopeful that the court acknowledges these very extensive and precise considerations of all environmental standards.”
Hamburg, located about 130 kilometers (81 miles) upstream from the North Sea, says deepening and widening the channel is necessary because ultra-large vessels can’t leave and enter its port fully loaded and face tide restrictions. The global fleet of container ships that can carry 14,000 standard boxes or more is forecast to triple by the end of 2016 with the biggest carrying more than 18,000, according to the June Global Port Tracker report.The court has scheduled six hearings from July 15 to July 24 with an option for three more in the last week of July, according to spokeswoman Ina Oertel. That’s about twice as many days as normally allotted, she said. Source: Bloomberg