Rail freight transit through Iran’s territory lasts between 3 to 5 days from Sarakhs Border to Bandar Abbas, reported Miad Salehi, Deputy Minister and CEO of the Islamic Republic of Iran Railways, while speaking at the international conference on the sea-based economy which is being held at the IRIB International Conference Center today. As per the agreement with Russia, Kazakhstan, and Turkmenistan, rail freights transit within 2 to 3 days
Author: Constance Makungu
Chevron upgrades pair of LNG carriers
Chevron has gone to South Korea to upgrade a pair of LNG carriers. HD Hyundai Marine Solution has been chosen to add re-liquefaction systems, hull air lubrication and new gas compressors to the gas carriers. Chevron’s LNG fleet were all built at Samsung Heavy Industries and started delivering around 10 years ago. HD Hyundai Marine Solution, part of the country’s largest shipbuilding group, was founded in 2016 originally as Hyundai
SeaLead Shipping gets new owners
Singapore-based liner operator SeaLead Shipping has been taken over by a group of four investors who have appointed an interim boss, with Henry Schmidl exiting the company. Established in 2017, Sea Lead is ranked 16th by Alphaliner. The company operates a fleet of 32 chartered-in ships on services that link Asia to the Indian Subcontinent, the Middle East, the Mediterranean, and the US West Coast. The company said that with
European Union Reaffirms Commitment to Lobito Corridor Development in Angola
In a recent meeting held in Luanda, the European Union (EU) reiterated its dedication to financing ongoing feasibility studies and professional training initiatives aimed at enhancing productivity and profitability within the Lobito Corridor. The assurance came during discussions between European Commissioner Jutta Urpilainen and Angolan Minister of Transport, Ricardo Viegas D’Abreu. The primary focus of this meeting was to underscore the EU’s unwavering support for the development of the Lobito
Ivanhoe Exports Copper Concentrate Using the Lobito Corridor
The first shipment of copper concentrate from the Ivanhoe Mines’ Kamoa-Kakula copper complex arrived by rail at the Atlantic Ocean port of Lobito, in Angola. The first shipment is a part of the trial tonnage under the memorandum of understanding (MOU) signed between Lobito Atlantic International SARL and Kamoa Copper S.A. on August 18, 2023. The rail line, linking the Democratic Republic of the Congo (DRC) Copperbelt to the port
Benguela Railway Now the Responsibility of the Lobito Atlantic Railway Company
According to the Vecturis LinkedIn page, on January 25 the Lobito Atlantic Railway S.A. took over the operations of the Benguela Railway, the primary rail underlying the Lobito Corridor. The first two trains were authorized to depart at 5:00 in the presence of the Board of Directors of the Caminho de Ferro de Benguela. The Lobito Atlantic Railway S.A. is the joint venture that manages the main railway concession comprising
Italy and the EU Strengthen Commitment to Lobito Corridor at the 2024 Italy-Africa Summit
This week’s Italy-Africa Summit witnessed the European Commission and the African Development Bank Group formalizing a €50 billion Financial Framework Partnership Agreement (“FFPA”). This agreement, coupled with Italy’s €5.5 billion strategic partnership unveiled at the summit, signifies a significant commitment to bolstering infrastructure, energy security, and economic development across Africa. 20 African leaders attended the summit, and 45 African states were represented, in Rome, Italy on January 28, 2024. The FFPA marks a 33% increase in
Ivanhoe Mines Commits to Long-Term Mineral Transport via Lobito Corridor
According to a February 7, 2024, press release from Trafigura, Ivanhoe’s (JV partner is Zijin Mining) Kamoa-Kakula mine in the DRC has agreed to use the Lobito Corridor’s railway to transport mined copper for a minimum of six years. This marks the first long-term commercial commitment to the Lobito Atlantic Railway since Trafigura’s and JV partners won the concession from the government of Angola. Jeremy Weir, CEO of Trafigura had
China to Invest $1B in Revamping African Railway Amid Global Mineral Trade Competition
Amid intensifying competition among global powers for control over critical mineral trade routes, China unveils plans to allocate US$1 billion towards refurbishing a vital railway line. This initiative, under the Belt and Road Initiative, aims to upgrade the Tanzania-Zambia railway, connecting Zambia’s copper belt region to the Tanzanian port of Dar es Salaam. Recently, China’s ambassador to Zambia presented a proposal to Zambia’s Transport Minister, outlining the investment to be
PROFLIGHT PARTNERS WITH KAZANG FOR MOBILE TICKET PAYMENTS
Proflight Zambia has partnered with digital payments platform Kazang to provide customers with a secure mobile payment option, further broadening the settlement choices available when booking flights with the airline. Customers can choose Kazang to make payments via the airline’s reservations and sales offices, ensuring a seamless and user-friendly booking experience. Proflight Director Flight Operations Captain Josias Walubita said: “We at Proflight are excited about the partnership with Kazang, and