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PSA Corp has awarded an S$100 million ($80M) berth building and container stacking yard construction contract to a joint-venture formed of Koon Construction & Transport, Penta-Ocean Construction and Hyundai Engineering & Construction.

PORTS and waterways are among the 1 trillion yuan ($158bn) of new infrastructure projects announced by China in a bid to revive economic growth, raising hopes that the world’s second largest economy will drive a recovery across the globe.

HUTCHISON Ports UK, the owner of Felixstowe container port, has declined to comment on S&P's new credit rating report, which described HPUK's financial risk profile as aggressive because it reflected S&P said, the company's relatively high leverage alongside weak cash flow protection measures. 

PSA’S tryst with JNPT is on the rocks. Reliable sources within JNPT, India’s largest container port have told Port Finance International that re-tendering for the US$1.4 billion container terminal project is now highly likely because PSA International has yet to sign the concession agreement awarded over a year ago.

A RUSSO-Japanese project to build a multi billion-dollar LNG plant on the Pacific ocean, near Vladivostok port on Russia's Far-Eastern seaboard, is expected to be announced at this week’s Asia Pacific Economic Cooperation (APEC) summit.

STANDARD & Poor's Ratings Services, (S&P) has maintained an A-rating for Hutchison Ports UK, (HPUK) however it judged its financial profile “aggressive” and the company has assessed its stand-alone credit profile as ‘bb’.

CARGOTEC, has won two major crane automation orders in Australia worth a total of €100m ($125m) from operators Asciano and DP World, the Finnish cargo equipment company, told Port Finance International on Wednesday.

A FURTHER LNG port facility conversion in the US is soon expected after Gold Pass Products, (GPP), a joint venture between Qatar Petroleum and Exxon Mobil, said it would apply to the US Federal Energy Regulatory Commission for authorisation to build and operate gas liquefaction facilities for gas exports on the site of the joint venture’s existing LNG import port terminal at Port Arthur, Texas.

CHINA Harbour Engineering Company, CHEC, a subsidiary of China Communications Construction Company, (CCCC), has emerged as the alleged Chinese company involved with talks with Port of Singapore Authority (PSA) over the takeover of Pakistan’s strategic Gwadar port located near the Pakistan-Iran border.

THE EXECUTIVE Council of the Emirate of Abu Dhabi and Abu Dhabi Ports Company (ADPC), the state-run owner of Khalifa port, are at a critical stage of tying up funding for the new container port in Abu Dhabi, a well-placed industry source has revealed.


Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

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