Korean Port of Busan still empty

Korean Port of Busan still empty
Having been built at a cost of 1 trillion won (US$1billion) and completed on January 19, the port of Busan in Korea has failed to attract a single shipment. The only bustling activity to be seen around the port is a series of trial runs, so that when cargo comes into the port, processing can be executed as swiftly as possible.
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New Orleans to borrow US$12m

New Orleans to borrow US$12m
The Port of New Orleans yesterday received the go ahead to borrow up to US$12m over the next two years to fund its operating costs, debt payments and expenses incurred in the wake of Hurricane Katrina, during which it sustained damage in the region of US$84m.
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White House Approves P&O Sale

White House Approves P&O Sale
Amidst cries of dissent, including one senator announcing his intention to bring in a ban on foreign-owned companies operating US shipping concerns, the Bush administration yesterday approved the US$6.8bn sale of P&O to Dubai Ports.
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US Could annul P&O/Dubai Ports Deal

US Could annul P&O/Dubai Ports Deal
Although the majority of UK shareholders voted on Monday in favour of the offer by DP World to purchase P&O, the White House announced yesterday that it was investigating the Dubai Ports World company, because of the control the company would have over two P&O ports; those of Manhattan’s West Side cruise ship terminal and Newark’s containerport.
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Kalmar launches world’s first Intelligent Tractor

Kalmar launches world’s first Intelligent Tractor
Kalmar, the world’s leading supplier of cargo handling equipment to ports and terminals, has launched its new i-series ‘intelligent’ tractors, which offer users more power, more torque and a longer runtime. They are the first ever tractors to use CAN-BUS control technology.
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US Port Security plays role in Politics

US Port Security plays role in Politics
The Senate’s leading democrat Don Perata yesterday criticised Californian Governor Arnold Schwarzenegger’s bond package covering new roads and schools for not adequately addressing post 9/11 port security issues.
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Port of Oregon revived

Port of Oregon revived
Having lost much of its trans-Pacific shipping business when in 2004, container carriers Hyundai Merchant Marine and K Line stopped calling at Oregon, the port is on the brink of experiencing a revival from a Taiwanese shipping company, and quite possibly, an Israeli deal
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P&O Deal Embraced by Shareholders

P&O Deal Embraced by Shareholders
DP World’s offer to purchase P&O was voted through by shareholders yesterday. The deal will now be finalised on March 2 after a UK High Court stamp on 28 February, and will create the second largest global ports and container group in terms of traffic, to rival Singapore’s PSA International. (The largest being Hong Kong’s Hutchinson Port Holdings)
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Chittagong Strike Ends

Chittagong Strike Ends
Workers at the port of Chittagong, Bangladesh, have called off the strike after ‘successful talks’ with the port authorities.
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Expansion begins at Brazilian port of Imbituba

Expansion begins at Brazilian port of Imbituba
Work has finally begun on the Brazilian port of Imbituba, which will see capacity increased from 150,000 teu per year to 400,000 teu. Increased container capacity has been hotly anticipated for a couple of years now.
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CMA CGN wins finance securitisation

CMA CGN wins finance securitisation
The first containership financial securitisation has taken place for container operator CMA CGN. The proceeds of the US$253m triple-A rated financial stamp, issued by UK-based XL Capital Assurance, will be used to buy 12 boxships which will be used as security for the deal.
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Anti-Danish Sentiment hits Container Shipping

Anti-Danish Sentiment hits Container Shipping
Maersk Line’s rebranding launch, as it dropped ‘Sealand’ from its main container shipping division, had been planned to take place this weekend amidst much pomp and glory. But following Muslim protests about cartoons depicting the prophet Mohammed as a suicide-bomber, which had first been printed in a Danish newspaper, senior management muted the a...
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P&O expected to accept DP World’s Offer

P&O expected to accept DP World’s Offer
Following the bowing-out of the bidding battle by PSA International on Friday 10 February, DP World looks set to become the world’s third largest terminal operator with its acquisition of P&O, about which shareholders will convene at Wembley Stadium, London, today.
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Maersk Containers washed off ship

Maersk Containers washed off ship
Islanders on the small Dutch island of Terschelling have seen Barbie dolls and sportsgear being washed up on their coastline, as a result of dozens of containers lost in windy weather off the P&O Nedlloyd Mondrian.
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P&O respond to PSA Announcement

P&O respond to PSA Announcement
P&O has acknowledged PSA's bowing out from the bidding war. P&O Chairman Sir John parker said "We would like to thank Chairman Fock, CEO Eddie Teh and their colleagues for their professionalism and courtesy throughout the process."
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Los Angeles Port writes environmental standards into Lease

Los Angeles Port writes environmental standards into Lease
In an unprecedented move, the Los Angeles Board of Harbour Commissioners has ratified a new leasing policy for the Port of Los Angeles which, in addition to formalising the standard criteria for selecting port tenants, has specifically addressed stringent environmental standards tenants must meet.
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Liverpool receives second transatlantic service

Liverpool receives second transatlantic service
The port of Liverpool has received a major deal under which it will be the last port of call for ships en route to the eastern US seaboard. CMA CGM and China Shipping have come together and will deploy four ships of between 2,500-2,700 teu apiece on a weekly service which will be launched in mid March.
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EU strikes out ports clause

EU strikes out ports clause
The controversial EU services directive has struck out the clauses pertaining to ports in order to avoid the controversy which resulted in violent protests by dockers in January.
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COSCO considers stake in Greek Piraeus Port Authority

COSCO considers stake in Greek Piraeus Port Authority
Chinese shipping company Cosco’s subsidiary in Greece, Cosco Hellas, is considering acquiring a stake in the Greek port of Piraeus. The announcement is one of several flowing from Greek Prime Minister Kostas Karamanlis’ visit to China last month.
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