Egypt to finalize Suez Canal development tender by end of November 2013
Egypt will finalize a tender for the development of the Suez Canal by the end of the month, the investment minister said, to try to boost an economy struggling with political turmoil since 2011. "No country is taking the lead, it is an Egyptian project and we are going to finalize the first stage by finalizing this tender by the end of this month," Osama Saleh told a Euromoney conference in Cairo, adding the terms of reference will be tendered globally. Egypt's economy benefits from about $5 billion a year in tolls for using the vital 192-km (120 mile) waterway, the quickest sea route between Asia and Europe. Saleh did not put a price tag on the project.
New line between Morocco & Saudi Arabia to be launched in 2014
Doha: The Chairman of the Saudi-Moroccan Business Council, Mohammed Al Hammadi, said that a new maritime transport company between Saudi Arabia and Morocco is set to launch. "We are now in the process of issuing licenses, as we are working on processing the licenses and finishing all procedures, from governmental licenses and other requirements," Hammadi said. He added that the name of the company was chosen to be Al-Mamlakatain "The Two Kingdoms" for Maritime Transport. The company is with a capital of 415 million riyals, in which the Saudi side invests 51%, while the Moroccan takes 49%. Its headquarters is in Jeddah. The company will start working in the second quarter of 2014, with 12 trips per year. A fleet of six ships will be the eventual goal.The Moroccan Minister of Equipment & Transport, Abdelaziz Rabbah, said that the Kingdom of Saudi Arabia is an economic power that can't be overlooked. "We, in Morocco, welcome the new Saudi investments, especially since there is a tendency to change the regulation to reduce bureaucratic processing" said Rabbah. [12/11/13]
Korean company Hyundai Corporation announced that it has decided to provide a debt guarantee for its Chinese shipbuilding facility, Qingdao Hyundai Shipbuilding.
The creditor is Standard Chartered Bank Korea and the debt amount is $25.77m. The debt guarantee covers from November 12 to December 31. [13/11/13]
Cosco to extend investment at Greek port of Piraeus
Cosco subsidiary Piraeus Container Terminal (PCT) has inked an agreement with Piraeus Port Organization for an additional investment of EUR230m at Greece’s largest port, Piraeus.
The total Cosco investment in the port will reach EUR500m and Piraeus will have the capacity to handle up to 6.2m teu per year in the coming years. "The agreement seals the transition of the port of Piraeus into a new era, as this is the largest investment in crisis-stricken Greece,” Greek Shipping Minister Miltiades Varvitsiotis said on Tuesday. [Sino Ship News 13/11/13]
Navigation in St. Petersburg region closed for small-size vessels from November 11, 2013
Navigation in St. Petersburg region is closed for small-size vessels from November 11, 2013. According to the press center of the regional administration, the order was signed by St. Petersburg region Governor Aleksandr Drozdenko on November 11, 2013. The navigation was closed in view of decreasing average daily temperature, deterioration of wind and wave conditions and expected beginning of freeze up at water bodies.
New ship-breaking subsidy rules expected this year
China is expected to unveil new subsidy rules involving the demolition of ships this year, according to China Securities Journal, China Daily USA reports.
The draft is currently in the approval process from related ministries, including the Ministry of Finance and Ministry of Communications.
Some rules will be loosened for companies applying for the demolition of ships, a direct response to the nation's previous plan, which was deemed too strict on companies wishing to demolish ships.
Old rules, such as allowing companies to apply for a government subsidy in the purchase of new ships after the company demolishes its older ones, will remain.
The new plan is expected to dole out 4.56 billion yuan in subsidies for ship breaking, according to an expert familiar with the plan. usa.chinadaily.co...
Port of Lisbon to be crippled by port worker strikes throughout the next weeks
Ports in Lisbon are set to face major disruption from industrial action by the Stevedores’ Union throughout the next few weeks, Seatrade Global reports. The strikes, a continuation of previous action by port workers last year, is a protest against government plans to introduce temporary contracts. A report by Inchcape Shipping Services has warned that the strikes will cause huge backlogs at Lisbon commercial ports, which have already suffered from staff shortages for some time. The strikes at Lisbon port commercial terminals have been underway since 6 November, and are set to continue for a total of four hours every day until 27 November, as well as any period when an outside worker or truck driver is used by the terminals. More at www.seatrade-glob...
CSIC to build offshore construction centre in Qingdao
China Shipbuilding Industry Corporation (CSIC) is to build a significant offshore facility in Qingdao. The shipyard group has signed an agreement with the local government to build an offshore centre that will both construct offshore infrastructure as well as focus on research and development. [Sino Ship News 11/11/13]
Jinzhou Port obtains subsidy to expand navigation channel
Jinzhou Port has announced that it has received a subsidy of RMB246m from Ministry of Transport for the expansion of the port's navigation channel. Jinzhou Port said the expansion of navigation channel is to enhance the port’s capability of receiving larger vessels in the future. Jinzhou Port reported a net profit of RMB143m in the first nine months of this year, a year-on-year growth of 17.96%. [Sino Ship News 12/11/13]
In the night of Nov 11 an organic product leaked from the cargo of a vessel docked at the MSC Home Terminal in the Delwaide Dock. 21 persons were injured, two of them seriously. The fire department was called to support the medical services to help transport the victims. The Red Cross coordinated the action. The leaking cargo, thought to be a cleaning product, was to be removed from the ship as soon as possible.