A new dry port with a capacity of 900,000 twenty-foot-equivalent units will be built in the territory of the Nadezhdinskaya special economic zone in Russia’s Far East Primorye Territory to cope with growing volume.
The government of India, frustrated by its failure to pass a previous port reform plan following stiff resistance from trade unions and rival political groups, is considering new legislation to make major public ports independent companies in an effort to accelerate economic growth as New Delhi grapples with slowing foreign trade.
The government of Greece has again extended the bidding process for the sale of the port in Piraeus — the country’s largest — this time at the request of the potential purchasers.
DFDS’s record quarterly profit has highlighted the rebound in northern Europe’s short sea shipping traffic and the positive impact of low fuel prices as ships face tougher environmental standards.
APM Terminals has opened the expanded Aqaba Logistics Village, a multi-purpose distribution center close to Jordan’s main container port.
In 2004, Gary LaGrange set an ambitious goal: Within a decade, the CEO of the Port of New Orleans wanted the port to handle more than 500,000 20-foot-equivalent container units a year. Despite Hurricane Katrina and the Great Recession, New Orleans met that goal.
The Asia-Australia container trade is facing capacity cuts and service withdrawals in the next few months that should give added impetus to rising freight rates that have been increasing since mid-year on a better supply-demand balance.
Container lines are withdrawing larger capacity vessels from the major east-west trades in a selective approach that will better tackle the chronic over supply problem, according to Drewry.
The Hong Kong Competition Commission will not take any action against industry sectors that have applied for a block exemption from the law that takes effect on Dec. 14 until the applications have been reviewed, according to the city’s liner shipping lobby.
Transportation stakeholders received something to celebrate this year as 44 percent of the new $500 million round of the Department of Transportation’s Transportation Investment Generating Economic Recovery program went to projects dedicated to moving freight.