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DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and modernise the multipurpose Dar es Salaam port, the country’s largest port, in a deal that has been making headlines for months. DP World will initially invest more than $250m to upgrade the port and the investment could increase …
https://splash247.com/dp-world-takes-over-the-running-of-tanzanias-largest-port/
https://splash247.com/dp-world-takes-over-the-running-of-tanzanias-largest-port/Infrastructure investor Stonepeak is spending big to take over container lessor Textainer. Textainer investors will receive $50 a share in cash, valuing the company at about $2.1bn. Factoring in Textainer’s debt, the deal is worth about $7.4bn. The move follows on from the news in April when Toronto-based Brookfield Infrastructure Partners bought Triton International, the …
https://splash247.com/stonepeak-buys-textainer/
https://splash247.com/stonepeak-buys-textainer/St Lawrence Seaway workers began strike action on Saturday night just before midnight after negotiations failed to reach a satisfactory agreement. Canada-based union Unifor said that it “made the difficult decision to go on strike” and walked off the job at 13 Canadian locks. A 72-hour strike notice was officially filed on October 18, and …
https://splash247.com/strike-shuts-down-st-lawrence-seaway/
https://splash247.com/strike-shuts-down-st-lawrence-seaway/The Federal Maritime Commission (FMC) in Washington DC is having to handle a record number of cases. The latest complaint comes not from a shipper but from China’s BAL Container Line, which has taken SSA Marine Terminal to task over its decision to levy congestion surcharges. “Complainant alleges these violations arose from an assessment of …
https://splash247.com/record-volume-of-cases-rain-in-at-the-federal-maritime-commission/
https://splash247.com/record-volume-of-cases-rain-in-at-the-federal-maritime-commission/Suezmaxes and aframaxes look set to be the beneficiaries of last week’s announcement that the US will ease sanctions on Venezuelan oil, though analysts remain divided on whether the development is good news for the tanker sector as a whole. The US has issued a six-month license authorising transactions in Venezuela’s oil sector after Venezuelan …
https://splash247.com/winners-and-losers-from-lifting-of-sanctions-on-venezuela/
https://splash247.com/winners-and-losers-from-lifting-of-sanctions-on-venezuela/London-headquartered broker Gibson is reporting that there are now no suezmax newbuild slots left in China for 2026. “As a result,” Gibson stated in a recent report, “we are seeing a number of owners spar with the Korean/Japanese yards on what pricing can really be achieved for deliveries across 2026.” In South Korea, yards would …
https://splash247.com/no-suezmax-newbuild-slots-left-in-china-for-2026/
https://splash247.com/no-suezmax-newbuild-slots-left-in-china-for-2026/Iron ore port stocks in China have slipped to below the 100m ton mark for the first time since September 2020, but an armada of big bulkers heading from Brazil and Australia suggests this low point will pass quickly. Inventories of iron ore peaked in February 2022 at 144m tonnes and have been unwinding ever …
https://splash247.com/chinese-iron-ore-inventories-slip-below-100m-tons/
https://splash247.com/chinese-iron-ore-inventories-slip-below-100m-tons/A fire has broken out aboard a scrap barge in Jersey City, N.J., the U.S. Coast Guard said on Sunday.The agency said its watchstanders at USCG Sector New York received an initial call of a fire aboard a scrap metal barge moored at Sims Metal…
https://www.marinelink.com/news/fire-breaks-scrap-barge-new-jersey-508930
https://www.marinelink.com/news/fire-breaks-scrap-barge-new-jersey-508930Tanzania on Sunday signed agreements with Dubai state-owned ports operator DP World to operate part of the Dar es Salaam port for 30 years, a deal that has previously been opposed by Tanzania opposition and rights groups.Plasduce Mbossa, director…
https://www.marinelink.com/news/tanzania-inks-deals-dp-world-operate-dar-508931
https://www.marinelink.com/news/tanzania-inks-deals-dp-world-operate-dar-508931An investigation into the damage to the Balticonnector gas pipeline is currently focused on the role of the Chinese NewNew Polar Bear container vessel, Finland's National Bureau of Investigation (NBI) said on Friday.Early on Oct. 8, a gas pipeline…
https://www.marinelink.com/news/china-ship-focus-pipeline-damage-probe-508932
https://www.marinelink.com/news/china-ship-focus-pipeline-damage-probe-508932