Preparations are underway to re-tender the development of Larnaca Port after Cyprus terminated a $1.3 billion concession agreement. Transport Minister Alexis Vafeades announced that Qatar, along with other investors, had expressed interest in the port. The re-tendering process might be delayed by potential legal actions from the previous operator, Kition Ocean Holdings. Kition Ocean Holdings, a joint venture between Israeli investor Eldeman Holdings BV and Cypriot firm Alexandrou Corporate Services
Author: Constance Makungu
AD Ports Group and Madagascar EDB Sign MoU to Boost Maritime and Logistics Sectors
The Economic Development Board of Madagascar (EDBM) and AD Ports Group have signed a comprehensive Memorandum of Understanding (MoU) to explore commercial opportunities across Madagascar’s maritime, industrial, and logistics sectors. The MoU will focus on areas of mutual interest and cooperation, including the development of economic cities and free zones, ports, marina and cruise port facilities, digitalisation of logistics, maritime services, and the establishment of a maritime academy. Additionally, the
Singapore Expands Port Capacity to Reduce Congestion
The Port of Singapore is increasing its capacity and reopening older berths to alleviate congestion at the world’s largest transshipment hub. Container ships arriving at the typically efficient Port of Singapore have faced berthing delays of up to seven days, with total capacity waiting at dock reaching 450,000 TEU, according to analyst Linerlytica, as reported by Seatrade Maritime News earlier this week. The Maritime & Port Authority of Singapore (MPA)
Maersk ups full year earnings forecast as port congestion grows
AP Møller – Maersk expects a stronger financial performance in the second half of the year as container spot rates hit their highest level since August 2022. The Danish shipping company has upped its full year 2024 EBIT forecast to $1 – $3 billion from negative $2 billion – $0 previously and its full year EBITDA forecast to $7 – $9 billion from $4 – $6 billion previously. “On the
Santa Clara-Oshikango Border Post Now Open 24/7 to Boost Trade and Mobility
The Santa Clara-Oshikango border post, which officially opened 34 years ago, has begun operating 24 hours a day to better accommodate the movement of people and goods. This significant change was marked by an event attended by Angolan Minister of the Interior, Eugénio Laborinho, and Namibian Minister of Internal Affairs, Immigration, Security, and Protection, Albert Kawana. The introduction of a mobile biometric border control system now allows citizens from both
Angola’s Transport Minister Calls for Swift Implementation of Transport Projects
Minister Ricardo Viegas d’Abreu emphasized the urgency for transport sector operators to accelerate ongoing projects during the closure of the XV Consultative Council in Lobito, Benguela province, on Friday. Highlighting the importance of executing national interest programs, particularly those supporting the production sector, Minister d’Abreu underscored the potential of the Lobito Corridor to stimulate economic diversification and enhance other sectors. A pivotal initiative proposed includes establishing the National Agency for
Fly Angola CEO Advocates for Streamlined Airport Development Strategies
The airport sector must adopt new strategies and expedite development processes to fully utilize the available infrastructure, stated Belarnício Muangala, President of the Executive Committee (PCE) of Fly Angola, on Monday in Luanda. In an interview with Jornal de Angola, Muangala identified persistent slowness and bureaucracy in the aviation sector as significant barriers, specifically hindering the planned air connection between Lubango and Windhoek. This new route is envisioned to facilitate
Lobito Corridor boosted with new reference partner
Angola’s minister of Transport Ricardo Viegas d’Abreu recently highlighted the significant financial commitments from the G7 and Italy, including a $320 million pledge from Italy, which complement the investments from the United States’ Partnership for Global Infrastructure (PGI) and the European Union’s Global Gateway Strategy. D’Abreu emphasized the Lobito Corridor’s strategic importance, stating, “This financial support from Italy directly aids the Benguela Railway (CFB) connection to Zambia, enhancing Angola’s ability
Angola Advances Lobito Corridor to Boost Regional Trade and Economic Integration
Angola is leading efforts to transform the Lobito Corridor into a vital artery for regional trade, enhancing economic integration in Southern Africa. This large-scale infrastructure project, supported by the Angolan government and international partners, aims to connect Angola with the Democratic Republic of Congo (DRC) and Zambia, facilitating trade and fostering regional economic growth. Significant International Investments Italy’s Contribution:Under Prime Minister Meloni’s Mattei Plan and PGI, Italy has committed $320
Italy Joins US and EU in Promoting Sustainable Development Along Lobito Corridor
On Friday, during the G7 meeting it hosted, Italy committed to joining the US and EU in efforts to promote sustainable development along the Lobito Corridor. This initiative aims to enhance collaboration and mobilize up to $320 million in investments to support core rail infrastructure and related projects, in synergy with the Green Infrastructure Alliance in Africa (AGIA). The Lobito Corridor is a significant railway infrastructure that traverses Angola, the