According to Fairplay estimates based on World Bank and IMF data and forecasts, Djibouti’s GDP will cross the USD2 billion barrier and container throughput will hit the 1 million teu mark, both in 2017.
The deal was closed after lengthy negotiations, which are believed to have been dragging on since autumn 2016, and will come into effect from 27 July, according to a statement issued by Harren & Partner on Wednesday.
The signing confirms the initial award of the concession to the consortium by the Cameroonian government in August 2015 against keen competition from ICTSI and APM Terminals.
Japan’s Imabari Shipbuilding wins new orders for 30 bulk carriers in the first quarter.
China's largest carrier resumed trading on the Shanghai Exchange today following a 10-week suspension.
Hong Kong-listed red chip China Merchants Port Holdings (CMPort) has reached an agreement with the government of Sri Lanka to acquire an 85% stake in Hambantota Port for USD1.12 billion.
More elderly tankers were scrapped as ship demolition rates picked up in the last week, with anticipation running high that prices might hit the USD400 per ldt mark should the current trend persist.
China’s COSCO Shipping Lines has bought four Panamax container ships from Germany’s Schulte Group for USD7.5 million each.
Bahri has suffered a sharp fall in profits due to lower spot rates and increased bunkering costs.
Commercial vessels are a vital resource in the ongoing fight to save the lives of migrants crossing the Mediterranean from north Africa to Europe, but are crews prepared for the challenges and trauma of large scale rescue operations?
Most of the subsidies will be used to fund research and development.