Mediterranean Shipping Company’s maritime services subsidiary, SAS Shipping Agencies Services, has agreed to acquire a 56.47% controlling stake in Brazilian port operator Wilson Sons for 4.3 billion Brazilian real (R13.44 billion). In a regulatory filing, Wilson Sons confirmed it received notification from its controlling shareholder, OW Overseas Investments, regarding the execution of a share purchase agreement. This agreement involves OW Overseas (the seller) and SAS Shipping Agencies Services Sàrl (the
Author: Constance Makungu
Four Crew Members Missing After Russian Cargo Ship Capsizes Near Sakhalin Island
Four crew members remain missing after the small general cargo ship Grigory Lovtsov capsized near Korsakov port at the southern end of Sakhalin Island, in Russia’s Far East. Russian authorities reported that three crew members were rescued, though all are suffering from hypothermia. The Grigory Lovtsov, a 41-meter, 200-dwt vessel that has operated in Russia since 2010, was carrying a crew of seven. Sakhalin Oblast Governor Valery Limarenko stated on
Tragic Gangway Collapse on Sapelo Island Claims Seven Lives
Seven people were killed and three others seriously injured when an aluminum gangway collapsed at a ferry pier on Sapelo Island, Georgia, over the weekend. All the victims were senior citizens who had traveled to the island for a festival celebrating the culture of the Gullah Geechee, an African American ethnic group from the coastal Southeast. They were returning to the ferry landing when the gangway, connecting the shore to
Galp Energia Prepares for Major Drilling Operations Off Namibia with Santorini Drillship
A drillship formerly active in the Baleine offshore exploration area off Côte d’Ivoire has arrived off the coast of Namibia, where it is set to conduct single-well drilling for Portuguese energy multinational Galp Energia. The Santorini, owned by Italian oilfield services company Saipem SpA, is part of a significant investment totaling N$2.1 billion by Galp, following exploratory drilling in January 2023. Currently stationed off Long Beach between Walvis Bay and
Brazil’s Port Privatization Strategy Expands with Auction of 35 Terminals
Brazil has announced plans to auction off 35 terminals as part of its ongoing privatization efforts, marking a key step in the country’s strategy to modernize its port infrastructure. This announcement follows the recent acquisition by MSC subsidiary SAS Shipping Agencies Services, which secured a 56.47% stake in port operator Wilson Sons for 4.3 billion Brazilian reais. The government’s initiative aims to enhance efficiency and competitiveness in global trade by
AFC Report Highlights Inefficiencies in Africa’s Logistics Despite Port Investments
A new report from the Africa Finance Corporation (AFC) raises concerns that significant investments in ports across the continent have not translated into improved inland logistics and supply chains. Since 2005, African ports have attracted an estimated $15 billion in investments, enabling upgrades and modernization to accommodate larger vessels and increased cargo volumes. Data from the African Development Bank reveals that container traffic through African ports surged nearly 50%, rising
Qatar Airways Launches World’s First Boeing 777 with Starlink Internet Service
Qatar Airways has launched the world’s first Boeing 777 equipped with Starlink, marking a significant advancement in in-flight connectivity. The announcement was made via a media release sent using the ultra-high-speed, low-latency internet service while flying at 35,000 feet from Doha to London. The complimentary Starlink service is available to all passengers from gate to gate. Initially targeting three Starlink-equipped aircraft, Qatar Airways now plans to deliver 12 upgraded Boeing
Transnet to Enhance Straddle Carrier Operations at Durban Container Terminals
Transnet has announced that component parts for 20 straddle carriers used at Durban Container Terminals (DCT) will be received by the end of November. This response comes as the state-owned logistics utility addresses ongoing equipment inefficiencies at DCT Pier 2. In a recent port update, Transnet acknowledged the low availability of straddle carriers, stating, “Despite our ongoing efforts, we are still experiencing low availability of straddle carriers, which is impacting
Cosco Shipping Energy Transportation Strengthens Global Chemical Logistics with Asset Consolidation
Cosco Shipping Energy Transportation is consolidating its parent company’s chemical product supply chain assets to enhance its position in the global chemical logistics market. The newly established Dalian Cosco Shipping Energy Transportation Supply Chain Company will merge Cosco Shipping’s transportation, warehousing, and logistics assets for LPG and chemical products. “The asset consolidation will enhance the company’s service capabilities in the chemical and energy logistics sectors and optimize overall business performance,”
Tragic Accident Claims Lives of Two Workers at Virginia Ship Repair Yard
Two workers tragically lost their lives in an accident at the Marine Hydraulics International (MHI) Ship Repair Yard in Norfolk, Virginia, last week. Emergency services responded to the incident on the Elizabeth River at approximately 7:45 AM on Wednesday. One worker was pronounced dead at the scene, while another, who was critically injured, was transported to the hospital but succumbed to his injuries several hours later. MHI issued a statement