The government of the Philippines introduced new laws this week which will see an end to cabotage charges currently in place under the country’s 50 year old Cabotage Law.
Indian logistics firm Adani Group expects to sign the concession agreement for the proposed $1.2 billion Vizhinjam deepwater port project as early as August 17th and begin work on November 1st, its executive director Karan Adani has said.
Investors in Russia’s Far Eastern port projects are set to receive a fillip after the government approved a reported $242 million of subsidies to help expand capacity and drive growth.
The Sri Lanka Ports Authority (SLPA) has reportedly approved a $400 million project to develop a dockyard at the country’s Hambantota Port.
Indian engineering conglomerate JSW Infrastructure plans to invest $315 million over the next two years to double cargo handling capacity at its ports, according to comments from its chief executive BVJK Sharma.
The Philippines’ Bureau of Customs (BOC) has vowed to end congestion at the Port of Manila with a renewed focus on economic stimulus and market driven support.
The Port of Karaikal on India’s east coast is at the centre of talks for a planned $393 million LNG terminal with interest already expressed by three international investment firms.
As Greece faces yet more eleventh hour negotiation over debt repayments and the potential that it may be forced to leave the European Union the effect on the country’s port sector looks set to be substantial.
Construction firm IJM Corporation has been awarded a 30 year concession to develop, operate, and manage Kuantan port in Pahang on the east coast of peninsular Malaysia. The firm has also been approved to develop a new $800 million deepwater terminal at the port.
Container terminal operating firm APM Terminal has backed further development at its Port of Poti site on the Black Sea coast of Georgia. The multi-million dollar project is designed to create a mega-port that will act as a “prominent gateway” for Black Sea, Mediterranean and Central Asian trade.