The Georgia Port Authority (GPA) has unveiled a $2.5 billion plan to expand the capacity at the Port of Savannah to 8 million TEUs by 2028.GPA Executive Director Griff Lynch at the Savannah State of the Port detailed GPA’s 10-year, $2.5 billion…
The Board of Commissioners of the Port of New Orleans (Port NOLA) and the Board of Directors of the New Orleans Public Belt Railroad Corporation (NOPB) approved separate resolutions authorizing nonbinding Cooperative Endeavor Agreements between Port NOLA…
Egypt’s Suez Canal revenues rose to $502.2 million in August up 6.7 percent from the same period last year, the cabinet said in a statement on Wednesday.The canal is the fastest shipping route between Europe and Asia and one of the government’s main sources of foreign currency…
Norwegian shipping and tank terminal company Odfjell SE announced on Thursday that it has finalized the sale of its tank terminal in Europe's largest port.The company announced in July that Odfjell Terminals entered into an agreement with Koole Terminals B…
As first reported in the JULY / AUGUST edition of Maritime Logistics Professional magazine, Gulftainer through its subsidiary GT USA, Wilmington had inked a tentative deal with the State of Delaware which would grant GT USA, Wilmington exclusive rights to operate and develop the Port of Wilmington…
Gulftainer, the world’s largest privately-owned independent port operator and logistics company based in the United Arab Emirates, finalized a 50-year concession agreement with the state of Delaware to operate and develop the Port of Wilmington…
Diana Shipping announced the pricing of a US$100 million private placement of senior unsecured bonds maturing in September 2023 and callable beginning three years after issuance.In addition, the global shipping company specializing in the ownership…
Dubai port operator DP World is to issue more than $3.3 billion in bonds divided across different currencies and formats, according to bank documents seen by Reuters.The company will issue $1 billion in 10-year sukuk, or Islamic bonds, offering 175 basis points over mid-swaps…
All my life, I grew up around boats. My dad was a captain for 23 years, and I would travel on his ships throughout the Gulf of Mexico, the Atlantic Ocean and the Great Lakes. My first job out of college was in San Francisco, so naturally I bought…
China's steel and iron ore prices were little changed on Tuesday as market participants turned cautious amid escalating trade tension between Washington and Beijing.On Monday, U.S. President Donald Trump decided to impose 10 percent tariffs…
Dubai's port operator DP World has started marketing an eight-year euro-denominated bond, a document by one of the banks leading the deal showed.The transaction would add to the expected issue of 10-year sukuk, or Islamic bonds, and 30-year…
The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, was weighed down on Monday by weaker demand for the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels…
Maersk Line said it will introduce a new Bunker Adjustment Factor (BAF) surcharge designed to recover costs of compliance with the global 0.5 percent sulphur cap set to enter into force on January 1, 2020. The Danish container carrier said it expects its extra fuel costs could exceed $2 billion…
The Great Lakes Seaway Partnership announces the release of Economic Impacts of the Port of Chicago, a report documenting the many contributions made by the Illinois International Port District (IIPD) and Great Lakes Seaway Shipping to the City of Chicago…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fifth consecutive session on Friday as the capesize vessel segment marked its largest weekly decline in 16 weeks.The overall index…
