Port News

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.

Cargo owners of customs-cleared containers will be slapped with a $114 storage fee from Oct. 1 by the Philippine Ports Authority (PPA), regardless of whether their boxes are in the port of Manila or have been transferred to terminals in Subic or Batangas.

Wrap-up
A new carrier alliance entered the fray this week after weeks of feverish speculation.