The takeover bid for Malaysian port operator Integrax by the country’s largest power company Tenaga Nasional has hit opposition after Integrax shareholders rejected a $177 million offer.
India’s government is considering plans to attract further investment to its seaports by developing 12 ‘smart cities’ connected to key maritime hubs, at an estimated cost of $8 billion.
Malaysian shipping firm Hubline Bhd has announced its intention to withdraw from the container shipping industry to focus more on breakbulk cargo.The company cited overcapacity in the market and difficult economic operating conditions as the main drivers behind the decision.
The Japanese Government is to provide a grant of $19 million to Pakistan to improve port security at the Port of Qasim and the Port of Karachi as well as installation of energy efficiency systems in Lahore.
The Port of Busan in South Korea has announced plans to grow transhipment cargo by strengthening ties with China and North East Asia.
Japanese firm Mitsui Engineering & Shipbuilding is to deliver 29 cranes to Malaysia's Port Klang, as part of wide ranging expansion at the port.
Filipino port operator International Container Terminal Services Inc. (ICTSI) has acquired its partner Anglo Ports’ stake in Victoria International Container Terminal (VICT) in Australia.
Mining firm Queensland Bauxite has signed an agreement with the Far North Queensland Ports Corporation (FNQPC) to secure capacity at the Port of Mourilyan for output from its planned South Johnstone mine.
The Indian government is reportedly seeking to raise $2 billion to fund major port expansion in the country.