Mariners Rescued from Disabled Barge Off Rhode Island
Three mariners were rescued from a disabled barge off the coast of Point Judith, Rhode Island on Wednesday after their tug sank. The U.S. Coast Guard reports that watchstanders at...
COPENHAGEN (Dow Jones)–The port-operating arm of Danish industrial conglomerate A.P. Moller-Maersk A/S (MAERSK-B.KO), APM Terminals, will invest over $100 million to ramp up capacity in the Georgian port of Poti over the next three years.
APM Terminals, which operates the port of Poti, will build new container and bulk cargo terminals and deepen the berths there with the aim of boosting the cargo-handling capacity by an estimated 50%, the company said Friday.
According to estimates from the International Monetary Fund, Georgia’s gross domestic product is expected to expand by 6% in 2012, following growth of 7% in 2011.
Along with the increasing importance of the sea lane that passes through the Black Sea and services Eastern Europe and Central Asia, the economic growth of Georgia presents both a challenge and an opportunity to port operators in the region.
APM Terminals is the world’s leading port and inland operator with 62 port facilities in 36 coutnries.
-By Flemming Emil Hansen, Copenhagen Bureau, Dow Jones Newswires
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