News from August 2009
DP World and Odebrecht partner in Brazilian port development
30th of August, 2009
DP World has entered into a partnership with Brazilian company Odebrecht to acquire a majority stake at Empresa Brasileira de Terminais Portuários (Embraport), which is currently in phase one of a US$500 million terminal development project.
DP World expects 2009 investment to meet expectations
28th of August, 2009
DP World has reiterated its plans to continue investment in port expansion projects over the course of this year, stating that it remains "fully committed to meeting the long-term market demand for capacity expansion."
$1.68 bn in Gulf investments put on hold - report
23rd of August, 2009
A new report based on research conducted by Kuwait Financial Center 'Markaz' has suggested that billions of dollars of upcoming investments planned for ports operated by countries participating in the in the Gulf Cooperation Council (GCC) face delays or cancellation, due to pressure on oil prices.
Panama expansion on schedule after $400m payment received
18th of August, 2009
The Panama Canal Authority (ACP) reports that it has received performance and payment bonds from Grupo Unidos por el Canal’s (GUPC) and has issued a Notice to Commence work, set to commence on August 25, 2009.
Port of LA clears the way for $245m expansion
13th of August, 2009
The Los Angeles Board of Harbor Commissioners has approved a 30-year lease for TraPac Inc., a subsidiary of Mitsui O.S.K. Lines (MOL), to operate a container terminal at the Port of Los Angeles, clearing the way for TraPac’s proposed US$245 million expansion of facilities at the port.
First phase of Teesport container terminal expansion completed
10th of August, 2009
PD Ports has completed the first phase of its latest expansion programme to further develop its existing container terminal handling facilities at Teesport in the UK, following a £2 million investment.
Mundra consortium agrees Mormugao port development deal
10th of August, 2009
A contract for the development of a coal handling terminal at the Port of Mormugao in Goa has been awarded to a consortium fronted by Mundra Port and Special Economic Zone Ltd, according to local reports.
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