Transnet’s board has given the green light for the finalization of the contract to operate Durban Container Terminal 2, which will be awarded to the preferred bidder, Philippine terminal operator ICTSI. The completion of the financial close is pending other non-financial processes, Transnet’s chairperson of the Board of Directors, Andile Sangqu, announced on Friday. ICTSI was selected as the preferred bidder in July 2023, and after completing financial due diligence
Category: Shipping News
Africa Global Logistics Commences Operations at Port of Lobito
Africa Global Logistics (AGL) marked a significant milestone last week as it received the first cargo ship at the Port of Lobito in the Benguela province of Angola. The arrival of the ship at the general cargo terminal signals the formalization of AGL’s activities in operating the Multipurpose terminal at Porto do Lobito. Managed by the firm Seatrade, the cargo ship, measuring 169.37 meters long, brought 6,500 tons of rice
Panama port container volumes decline for second year running
It was the second year in a row that the transhipment hub showed a decline and all terminals were in the red except for Balboa that posted a 6% growth. The Panama Canal restrictions initiated mid-2023 with the waterway reducing the draught, helped the terminals recover some of their volume in the last four months of 2023. Shipping lines which were obliged to reduce the number of containers carried to
Port of New Orleans gets $266 million grant for Louisiana terminal
In addition to the $226 million INFRA Grant, the US Department of Transport recently awarded Port NOLA $73.77 million through its MEGA Grant programme, totalling $300 million in federal grant dollars to support the first construction phase of the $1.8 billion container terminal. The recent federal awards are in addition to significant private industry partner commitments as well as the State of Louisiana, and Port NOLA. LIT has also garnered
Port of LA Faces Decline in Monthly Volumes Despite June Improvement
The Port of Los Angeles, which experienced a slight recovery in June with volumes down by only 5% year-on-year compared to a significant 43% drop in February, has encountered a reversal in the latter half of the year. In July 2023, the Port of LA reported handling 684,290 TEU, marking a considerable decrease of 26.85% compared to the same month in 2022. This decline follows a drop from June 2023
Republic of Congo: Eni to Launch First LNG Carrier
The Republic of the Congo is preparing to make its first LNG shipment from its Tango FLNG facility. The cargo is currently being loaded and will be delivered to the Piombino regasification terminal in Italy in the coming days. The announcement was made by energy supermajor Eni on February 27 during a launch ceremony in Pointe Noire in the presence of the Republic of the Congo’s President Denis Sassou N’Guesso,
Oil rises as attacks in Red Sea escalate
The price of oil is rising in major international markets due to fears of an increase in attacks on ships in the Red Sea. West Texas Intermediate (WTI), a reference for the United States, registered an increase of 0.44%, reaching 78.25 dollars per barrel. Meanwhile, North Sea Brent, crude oil traded in London and used as a reference for European imports, is rising 0.23%, reaching $83.22. Yemen’s Houthi rebels, supported
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