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EU to Strengthen Sweden-Finland Multimodal Transport

The European Union will support with just over €6.1 million from the TEN-T Program a project to upgrade the transport link between northern Sweden and western Finland, including land and waterborne transport systems. It will also contribute to the realization of the Motorways of the Sea (TEN-T Priority Project 21) concept. Read More »

Panama Canal delay will benefit Suez

The Suez Canal stands to gain from delays in Panama

As the Suez Canal has started to take business away from the Panama Canal this year due to the economies of scale it permits, Drewry Maritime Research believes that some will argue that the delayed Panama Canal’s new locks are already long overdue. Read More »

Waste heat recovery system orders for ABB

Automation technology group ABB has won two orders with a combined worth of over $23m to provide the waste heat recovery systems for 14 new 8,800 teu container vessels, each powered by a power turbine generator (PTG). Read More »

Latin American port activity declines

Manzanillo, Mexico was among those achieving double-digit gains

Sluggish exports and slower growth prospects for the world economy accentuated the slowdown in port activity in Latin America and Caribbean during the first half of 2013, according to ECLAC (the Economic Commission for Latin America and the Caribbean) based in Santiago de Chile. Read More »

JAXPORT and Trailer Bridge sign new 10 year contract

The Jacksonville Port Authority (JAXPORT) and long-time tenant Trailer Bridge, Inc. have extended their ties by signing a new 10-year lease contract. The agreement, which includes two additional five-year options, continues the company's operations on approximately 32 acres at JAXPORT’s Blount Island Marine Terminal. Read More »

Finance now in place for new container terminal at Walvis Bay

The African Development Bank Group (AfDB) and Namibia have signed a US$338m sovereign guaranteed loan to Namibia Ports Authority (Namport) to finance the construction of a container terminal at Walvis Bay New Port. The Bank also provided a US$2.3m grant to the Government of Namibia for logistics and capacity building complementing the port project loan. Read More »

Record volumes and earnings for ICTSI and APM Terminals

ICTSI’s Pakistan International Container Terminal, Karachi

Manila-based International Container Terminal Services, Inc. (ICTSI) has reported that its unaudited consolidated financial results for the first nine months of 2013 show revenue from port operations rose to US$624.7m, 19% more than the US$524.7m for the same period last year. Net income attributable to equity holders came in at US$128.8m, up 22% on last year's US$105.8m. Read More »