By Ragnhildur Sigurdardottir (Bloomberg) -- As global warming creates shipping routes that can cut across the northern tip of the planet, a new port is being built on the fringe of the Arctic circle. Germany’s Bremenports GmbH has entered a deal to develop a deep vessel port together with Icelandic partners, according to a statement on Thursday. Bremenports will initially … [Read more...]
Yilport Is Said in Talks for $2 Billion California Terminal Deal
By Gillian Tan, Vinicy Chan and Ercan Ersoy (Bloomberg) -- Turkey’s Yilport Holding AS is in advanced talks to buy a container terminal in Long Beach, California, a deal that would value the facility at close to $2 billion, people with knowledge of the matter said. The discussions between Yilport, owned by Robert Yuksel Yildirim, and terminal owner Cosco Shipping Holdings … [Read more...]
Britain’s Peel Ports Expands Amid Brexit Trade Uncertainty
By Jonathan Saul LONDON, March 20 (Reuters) - Privately owned Peel Ports is expanding its workforce mostly in Liverpool and plans acquisitions this year, its chief executive said, as Britain prepares its ports to ease any trade disruption caused by Brexit. The British operator has been upgrading much of its network of seven ports, especially in northwest England, aiming to … [Read more...]
Opinion: Trans-Pacific Beneficial Cargo Owners Deserve 18,000 TEU+ Container Vessels
By Albert A. Melvin (Opinion) - The deployment of 18,000+ Ultra Large Container Vessels in the Trans-Pacific trade would substantially decrease the operating costs of shippers, consignees and ship owners. There is a proposed port in Sonora, Mexico that has the potential of being the first purpose-built port in North America capable of handling, on a steady basis, the largest … [Read more...]
Rotterdam Port Prepares for Brexit Gridlock
AMSTERDAM, March 11 (Reuters) - Emergency overflow parking spaces for up to 700 trucks have been created near Rotterdam port, Europe's largest, in anticipation of backups caused by Britain's departure from the European Union. Authorities in the Netherlands said on Monday they expect around 400 trucks per day destined for Britain will arrive at the harbour without proper … [Read more...]