Transportation Infrastructure Marine Ports and Services

  • SEOUL, Aug 31- South Korea's Hanjin Shipping Co Ltd filed for court receivership on Wednesday after losing the support of its banks, setting the stage for its assets to be frozen as ports from China to Spain denied access to its vessels. Hanjin Shipping, South Korea's biggest shipping firm, announced the filing for receivership and a request to the court to freeze...

  • SEOUL, Aug 31- Hanjin Shipping Co Ltd said on Wednesday it would seek court receivership after losing the support of its banks, as ports from China to Spain denied access to its vessels and a rival eyed some of the South Korean container liner's assets. A bankruptcy for Hanjin Shipping would be the largest ever for a container shipper in terms of capacity, according...

  • DUBAI, Aug 18- DP World, one of the world's largest port operators, is delaying the expansion of Dubai's Jebel Ali port, its main facility, because of softer market conditions, the company said on Thursday. The company had announced in July 2015 that it would invest $1.6 billion in Terminal 4, which was to be completed by 2018. Jebel Ali handles shipments not only for...

  • DUBAI, Aug 18- DP World, one of the world's largest port operators, is delaying the expansion of Dubai's Jebel Ali port, its main facility, because of "softer market conditions," the company said on Thursday. The company had announced in July 2015 that it would invest $1.6 billion in Terminal 4, which was to be completed by 2018. Also on Thursday, DP World reported a 50...

  • ATHENS, Aug 5- China COSCO Shipping, which owns the world's fourth largest container fleet in terms of capacity, is expected to wrap up the purchase of a majority stake in Greece's largest port, Piraeus Port, next week, sources close to the matter said on Friday. Under a deal signed in April between COSCO and Greece's privatization agency, COSCO will buy 51 percent of...

  • Aug 2- TransCanada Corp said on Tuesday it plans to build an $800 million marine terminal and oil pipeline project for refined products like gasoline and jet fuel, as the Canadian pipeline operator continues to expand its footprint in Mexico. TransCanada, which has been ramping up its spending in Mexico, said it will hold a 50 percent interest in the project, with...

  • Aug 2- TransCanada Corp said it plans to build an $800 million marine terminal and oil pipeline project along with Sierra Oil& Gas and Grupo TMM SAB in Mexico. TransCanada, which has been ramping up its spending in the Latin American country, said it will hold a 50 percent interest in the project, with Sierra Oil& Gas holding 40 percent and Grupo TMM holding 10 percent.

  • Docks vs. locks

    CNBC's Jane Wells reports on the trade battle between U.S. West Coast ports and the expanded Panama Canal.

  • ATHENS, June 29- COSCO Greece objected on Wednesday to terms submitted to parliament for the sale of Piraeus Port to China COSCO Shipping, saying they were inconsistent with those previously agreed with the Greek privatisation agency. Greece sealed the sale of Piraeus Port Authority to China COSCO Shipping Corporation in April, a major step for the bailed-out...

  • RABAT, June 27- The Moroccan government raised 1.94 billion dirhams by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year, traders said on Monday. However, the Casablanca stock exchange's main index, MASI, fell around 1.2 on Monday due to weaker international markets, traders said.

  • MARSEILLE, France, June 18- France's hardline CGT union ended on Friday a strike that had paralysed traffic for 26 days at the Fos Lavera oil terminals on the Mediterranean, the country's biggest oil hub, a management official at port operator Fluxel said. "Unloading resumed at the port at 9 p.m. on Friday," the official told Reuters. More than 50 oil tankers and other...

  • Fishing boats set off from Shipu port for fishing on September 16, 2015 in Ningbo, China. Thousands of fishing boats set sail for fishing after three and a half months fishing ban in the East China Sea.

    Fishermen are paying the price as Asia's superpowers vie for control of the resource-rich waters and islands of the East China Sea.

  • SYDNEY, May 19- Brazilian miner Vale has had a minor acid leak at its Goro nickel operations in New Caledonia, the government of the French Pacific territory said, two years after a large chemical discharge at the same site sparked violent protests. Vale spokesperson Cory McPhee confirmed the leak at the company's port facility but said that production had not...

  • *Tanker could end up in Latin America- traders. LONDON, April 28- Trading house Trafigura is shipping a rare cargo of gasoline from China to the United States, as the recent weakening of the Asian market after months of stock builds opens up new routes. The tanker Dalmacija is currently sailing across the Pacific Ocean after loading a part cargo at the port of...

  • SINGAPORE, April 25- Falling Iraqi oil exports have eased a huge traffic jam of tankers waiting to load crude at the Iraqi port of Basra, with queuing times falling by about a third this month, shipping data showed. Iraq typically cuts Basra exports whenever there is a backlog of ships waiting to load. Delays to load Basra heavy crude have fallen to an average of 11-12...

  • JAKARTA, April 20- Authorities from at least two Indonesian coal ports have stopped allowing vessels to leave for the Philippines due to security concerns following a spate of ship hijackings in the southern Philippines, a government official said on Wednesday. Departure permits for the Philippines were no longer available for shipping vessels at the Port...

  • GWADAR, Pakistan, April 12- The newly expanded Gwadar deep-water port in Pakistan that is key to a planned $46 billion Chinese economic corridor is nearly complete and expects to process about a million tons of cargo next year, the operator said on Tuesday. Most of the cargo will be incoming construction materials to be used in projects related to the China...

  • ATHENS, April 8- Greece sealed the sale of Piraeus Port Authority to China COSCO Shipping Corporation on Friday, while striking dockworkers protested against what will be the country's second major privatisation since late last year. The sale of Greece's biggest port had been halted by the leftist government of Alexis Tsipras when it won elections in January...

  • ATHENS, April 8- Greece is to sell its biggest port Piraeus Port Authority to shipping group China COSCO Shipping Corporation, marking the second major privatization for the country since late last year. The port sale had been halted by the leftist government of Alexis Tsipras when it won elections in January last year but it was resumed under Greece's 86...

  • 'Shipping industry has been trying for meaningful consolidation'

    Rahul Kapoor, director at Drewry Financial Research, discusses the outlook for the shipping sector.