Port News

Singapore
Container handling rose nearly 2 percent in August at the world’s largest transshipment hub, the Port of Singapore.

Global Ports, Russia’s largest container terminal operator, reported a jump of 30 percent in profit for the first half of 2014, as favorable ruble-dollar exchange rate movements offset a drop in cargo volumes.

Port of Los Angeles
Container volumes at the Los Angeles-Long Beach port complex were basically flat in August compared to last year as importers diverted cargo to Canadian ports and U.S. East Coast ports to avoid possible disruptions from West Coast longshore contract negotiations.

Suez Canal
The sale of investment certificates for the Suez Canal expansion project has netted Egypt $8.5 billion to fund upgrades to one of the country’s largest and most lucrative economic ventures.

Bayonne Bridge, APL container ship
Last winter’s harsh weather has caused a six-month delay in completion of a project to raise the Bayonne Bridge’s clearance to allow passage by larger container ships at the Port of New York and New Jersey.

Hong Kong’s container throughput in August slid into negative territory for the first time since February, down almost 3 percent year-over-year as the summer peak season momentum began to slow.

After only 100 days in office, it’s clear that India’s new prime minister, Narendra Modi, will make reducing port bottlenecks a priority.

Unlike several major North American ports this year, the Port of Savannah hasn’t seen the type of debilitating congestion that has hurt other import gateways.

Port of Long Beach photo
Two Southern California politicians are asking the U.S. Army Corps of Engineers to hurry along repairs to the breakwater protecting the Port of Long Beach, two weeks after high winds and waves punched holes through the barrier.

Work is scheduled to begin in October on a $30 million dredging project to widen a bend at the entrance of the channel at Port Freeport, Texas, in order to allow transit by larger ships.