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Germany’s LNG terminals to cost more than double earlier estimate

The purchase and maintenance of floating liquefied natural gas (LNG) terminals to help Germany secure energy supplies and diversify away from Russian gas, will cost more than 3 billion euros ($3.10 billion) more than planned, the economy ministry said on Sunday. Overall, the costs are estimated at about 6.56 billion euros, the ministry said, confirming a report in Der Spiegel. That compares with 2.94 billion euros estimated in the country’s 2022 budget. “Further costs have been determined in extensive consultations with numerous stakeholders and initial forecasts have been specified,” said ...

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AD Ports Group and Transmar launch new Pakistan Service

AD Ports Group and Transmar International Shipping Company (Transmar) have launched a new container shipping service that will link Karachi, Pakistan’s busiest port, with the major maritime economies of the Middle East and East Africa. The new route will contribute to AD Ports Group’s strategic objectives of increasing regional and global connectivity. The new route will provide weekly connections for cargo between Karachi Port and AD Ports Group’s flagship Khalifa Port in Abu Dhabi, in addition to Jebel Ali Port in Dubai, Dammam and Jeddah in KSA, Aqaba in Jordan, ...

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Saudi Ports Authority adds Sea Lead to its new freight service ‘FAM’ at King Abdulaziz Port

Saudi Ports Authority (Mawani) announced the addition of shipping provider Sea Lead to its new freight service ‘FAM’ at King Abdulaziz Port in Dammam. The addition of the new company, in collaboration with Saudi International Ports Company – the operator of the port’s two container terminals – is aimed at further augmenting capacities for exporters and importers, and improving commercial traffic at the port. This announcement coincided with the launch of the added EJBS service from the Emirates Shipping line, connecting Shuwaikh Port in Kuwait, Port of Jebel Ali in ...

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US imports from China falling faster than from other countries

America and China remain intimately intertwined via trade despite worsening tensions over Taiwan and the Russia-Ukraine war. More than a third of all U.S. containerized imports arrive from China. More than a sixth of China’s export value derives from U.S. purchases. But there are growing signs of at least some decoupling. In recent months, America’s imports from China have fallen faster than total imports. Other Asian countries are increasingly taking U.S. market share from China, a trend that began before the pandemic and has continued. Imports from China falling faster ...

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U.S. Long Beach highlights shared benefits of supply chain cooperation with China

U.S. port officials and Chinese representatives met in Long Beach, California, to discuss bilateral cooperation amid ongoing global supply chain challenges. The meeting was hosted by the Long Beach-Qingdao Association (LBQA), which was established in 1985 with an aim to promote exchange and trade between Long Beach and Qingdao. Zhang Ping, Chinese consul general in Los Angeles, underlined that with decades of development, the global supply chain has become a hallmark of economic globalization and a main feature of world economy, playing an important role in promoting economic connectivity, integration ...

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European Ports: Only A Well-Designed Maritime Eu Ets With Dedicated Funding Will Accelerate The Greening Of The Shipping Sector

Europe’s ports continue to support the extension of the EU Emission Trading System (EU ETS) to the maritime sector. The European Sea Ports Organisation (ESPO) recognises that the maritime EU ETS can be a powerful mechanism to accelerate the green transition of the sector. However, this mechanism will only deliver as intended if the measure is well-designed. This means that: – All efforts must be made to avoid carbon and business leakage to neighbouring ports – The ETS revenues of the shipping sector should be predominantly used to finance investments ...

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California Looks to Ban Diesel Trucks at Ports by 2035

An ambitious California plan to require trucking fleets in the state to switch from diesel to electric power faces a potential backup at charging stations. The California Air Resources Board is proposing phasing out older big rigs operating in the busy corridors shuttling shipping containers between ports, rail yards and warehouses and require that all new vehicles be powered by clean fuels starting in 2024. From 2025, the state would bar trucks powered by internal combustion engines that have more than 800,000 miles on them from operating at ports and ...

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Aqaba Container Terminal obtains the Port Environmental Review System certificate for the third Ttime

Aqaba Container Terminal (ACT), the preferred gateway to the Levant region and beyond, was recently awarded the Port Environmental Review System “PERS” certificate for the third time in a row. The certificate was granted by the European Sea Ports Organization (ESPO). ACT is the first port outside of Europe to obtain this certificate. It comes as a result of the company’s commitment towards fulfilling all the requirements of the certification process, this includes their environmental aspects, housekeeping, conformity review, best practices, policy statements, environmental report prep, and the legal regal ...

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Payra Port’s first terminal to open for imports by mid-2023: state minister

State Minister for Shipping, Khalid Mahmud Chowdhury, said traders will be able to import through the first terminal of Payra Port by the middle of next year. “The prime minister inaugurated the capital dredging work of Payra Port and eight new ships, as well as laid the foundation stone for the construction work of the first terminal, a six-lane road, and a bridge” he said, speaking as the chief guest at a round table meeting organised by the Daily Ittefaq at the National Press Club in Dhaka. He also said ...

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EPTL and EPL conclude $2.05bn (₹16,500 crore) transaction of port and power infra assets with AM/NS

Essar Ports & Terminals Ltd (EPTL) and Essar Power Ltd (EPL) today concluded the US$ 2.05 billion (₹16,500 crore) sale of captive ports and power assets located in Hazira and Paradip to Arcelor Mittal Nippon Steel India Limited (AM/NS). The sale consisted of infra assets which include a 270 MW power plant and 25 MPTA port at Hazira, Gujarat and a 12 MPTA port at Paradip, Odisha. Mr Prashant Ruia, Director, Essar Capital, said “Essar has concluded its asset monetisation programme and completed the debt repayment of $25 billion (₹2,00,000 ...

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Vopak and PETRONAS sign MoU to explore opportunities in CCS value chain solutions

Vopak and Petroliam Nasional Berhad (PETRONAS) signed a Memorandum of Understanding (MoU) for the development of the value chain for CCS in the Southeast Asia region. As part of the MoU, both companies will jointly study the development of the CCS value chain focusing on the CO2 emitted by industries in Singapore. This includes CO2 transport from a Vopak terminal for potential injection into the regional storage hubs developed by PETRONAS. The aggregation of CO2 emissions from various emitters in the Southeast Asia region is also part of the feasibility ...

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AD Ports Group and TotalEnergies Join Forces to Explore Distributed Solar Opportunities

Khalifa Economic Zones Abu Dhabi – KEZAD Group, the integrated trade, logistics, and industrial hub of Abu Dhabi and a subsidiary of AD Ports Group, announces an agreement with TotalEnergies Renewables Distributed Generation Middle East & Africa, an affiliate of TotalEnergies, to explore opportunities to solarise assets across KEZAD’s industrial ecosystem. TotalEnergies’ Renewables Distributed Generations develops, finances, builds and operates solar installations for industrial and commercial customers (I&C). This year, TotalEnergies’ reached 500 MW of onsite business-to-business solar distributed generation projects in operation globally. More than 300 sites of its ...

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HOT PORT NEWS from GAC

Bulk carrier and container ship collide 21 Nov 2022, Bosphorus, Turkey A bulk carrier collided with a container carrier at the southern anchorage area of Bosphorus due to adverse weather conditions today (21 November). Read more » Revision of pilotage fuel surcharge 21 Nov 2022, Dighi, India As the bulk fuel rate has come down, the pilotage fuel surcharge rate at Dighi Port has been de-escalated. Read more » Checking validity of P&I certificates 21 Nov 2022, Turkish Straits, Turkey From 1 December, vessels carrying crude oil and transiting the ...

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Container dwell fee on hold through Dec. 16

The San Pedro Bay ports of Long Beach and Los Angeles will postpone consideration of the “Container Dwell Fee” for four weeks, until Dec. 16. Since the program was announced on Oct. 25, 2021, the two ports have seen a combined decline of 87% in aging cargo on the docks. The executive directors of both ports will reassess fee implementation after monitoring data over the next month. Fee implementation has been postponed by both ports since the start of the program. The Long Beach and Los Angeles Boards of Harbor ...

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Data Safe House Rotterdam has taken off

The Data Safe House Rotterdam Foundation was recently formally established and the first exchange of information between major industrial companies and network operators is now under way. This data exchange ensures that network operators always have the most up-to-date information on the sustainability plans of affiliated companies. This helps them ensure that the infrastructure for the energy transition is ready in time. This way, the Data Safe House accelerates the transition. The Rotterdam approach can also be applied in other industry clusters. Every company in refining, chemicals and energy is ...

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