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S&P Global Ratings revises outlook on Adani Ports to negative

S&P Global Ratings on Friday revised its outlook on Adani Ports and Special Economic Zone APSE.NS and Adani Electricity to negative from stable, saying there was a risk investor concerns about the group’s governance and disclosures were larger than what the agency has currently factored. Source: Reuters (Reporting by Nallur Sethuraman in Bengaluru; Editing by Krishna Chandra Eluri)

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The Port of Gandia increases its traffic by 19%

The port of Gandia mobilised a total of 250,282 tonnes of goods in 2022, representing an increase of 18.89% compared to 2021, an area with traffic centred on various sectors which all showed an upward trend in the last financial year. Of the total amount of goods, 75% corresponds to import goods to supply the business fabric of its area of influence, while 25% are goods destined for sale abroad. Imports of paper and pulp represented 44% of the weight of the Port of Gandia’s traffic. This sector presented a ...

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China-Mongolia border port sees cargo volume rise in Jan.

Erenhot, the largest land port on the China-Mongolia border, witnessed a significant rise in import and export cargo volume in January, the railway authorities said on Friday. The port saw over 1.42 million tonnes of import and export cargos in January, up over 90 percent year on year, according to the China Railway Hohhot Group. Its imported and exported cargos surpassed 1.18 million tonnes and 238,600 tonnes respectively in the month. In January last year, the port handled a relatively low volume of cargo as a result of the pandemic. ...

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Sarawak wants Bintulu Port to be part of state’s ports cluster, says deputy premier

Sarawak’s intention to take over Bintulu Port from the federal government is aimed at making it part of the state’s ports cluster that would be regulated under a central port authority. Sarawak Deputy Premier and Minister of Infrastructure and Port Development Datuk Amar Douglas Uggah Embas said the central port authority would be incorporated under the state law. “We will have to look at the [Sarawak] Port Authorities Ordinance 1961. We hope to table a bill in the DUN (state assembly) sitting by the end of the year,” he said ...

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PRPA makes its largest local healthcare investment to date

Two North Coast healthcare facilities – Prince Rupert Regional Hospital and Acropolis Manor – are furnished with 61 new hospital beds, bringing a much higher level of comfort and accessibility for patients, long-term care residents, and staff. The beds were replaced through a partnership between the Prince Rupert Port Authority’s (PRPA) Community Investment Fund and the North Coast Health Improvement Society (NCHIS) as part of both organizations’ ongoing efforts to enhance the quality of healthcare for people living in the region. The new hospital beds offer a suite of features ...

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New container line connects the Port of Gothenburg with Iceland

On April 5, the shipping company Samskip will call at APM Terminals in the Port of Gothenburg for the first time. The traffic will serve the container terminal every week and then sail on to Faroese Runavik and Reykjavik in Iceland, then arriving in Rotterdam four days later. “The new call is not only a lifeline between Iceland and Sweden, but also represents the starting point for a competitive and sustainable short-sea offer from the largest container port in the Nordics to the continent. It is very gratifying that our ...

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HOT PORT NEWS from GAC

Sunken barge at anchorage 03 Feb 2023, Mormugao, India A barge has sunk with about 550 MT of cargo on board whilst discharging bauxite from a vessel west of Breakwaters at the Open Anchorage in Goa. Read more » Repair works of outfall pipe at Sok Kwu Wan, Lamma Island 03 Feb 2023, Hong Kong For approximately six months, repair and reinstate works of outfall pipe at Sok Kwu Wan will be carried out. Read more » Source: GAC

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DP World unit bags $519mln contract for container terminal in India – report

Hindustan Ports Private Limited, the Indian arm of Dubai-based DP World, has won the contract to develop a Rs 42.43-billion ($519.13 million) mega container terminal for Deendayal Port Authority at Tuna-Tekra in the Gulf of Kutch, Gujarat. “We have issued the letter of acceptance to DP World a couple of days ago,” The Indian Express newspaper reported, citing Sanjay Mehta, Chairman of Deendayal Port Authority. DP World will be responsible for the design, engineering, financing, procurement, implementation, commissioning, operation, management and maintenance of the project for a period of 30 ...

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Adani’s market losses top $100 billion as shelved share sale spooks investors

Adani Group’s market losses swelled to more than $100 billion on Thursday, sparking worries about their potential systemic impact, a day after its flagship company abandoned a $2.5 billion stock offering. The withdrawal of Adani Enterprises’ share sale marks a dramatic setback for founder Gautam Adani, the school dropout-turned-billionaire whose fortunes rose rapidly in recent years but have plunged in just a week after U.S.-based short-seller Hindenburg published a critical research report. The billionaire’s move to abort the share sale had an impact across markets, politics and business. Adani stocks ...

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Cargotec: Record Year for Kalmar and Hiab

Cargotec’s financial statements review 2022: Record year for Kalmar and Hiab ₋ Orders received, sales and comparable operating profit at record-high level ₋ Service and eco portfolio sales at record-high level ₋ MacGregor’s portfolio rationalisation had a significant negative impact on operating profit October–December 2022 in brief: Comparable operating profit increased Orders received increased by 13 percent and totalled EUR 1,190 (1,051) million. Order book amounted to EUR 3,541 (31 Dec 2021: 2,847) million at the end of the period. Sales increased by 36 percent and totalled EUR 1,239 (910) ...

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Konecranes Plc: Solid performance continued

This release is a summary of Konecranes Plc’s Financial statement release 2022. The complete report is attached to this release in pdf format and is also available on Konecranes’ website at www.konecranes.com. The figures presented in this report are unaudited. Figures in brackets, unless otherwise stated, refer to the same period a year earlier. Since the beginning of June, Service and Industrial Equipment have been focused under the same leadership. Following this change, Konecranes has two Business Areas: Industrial Service and Equipment, and Port Solutions. Konecranes continues to report three ...

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Apollo Appoints Caroline Stanley To Build Out Ports And Terminals Within Its Marine Energy Liability Class

Apollo, the independent specialist insurer and reinsurer, today announces the appointment of Caroline Stanley to build out ports and terminals business within its marine energy liability class, effective immediately. Stanley brings significant experience to the new role, having specialised in ports and terminals for more than 15 years. Since beginning her insurance career at Navigators she has held a number of increasingly senior underwriting roles across The Hartford Group companies. James Slaughter, Apollo Group CUO, said: “This is an exciting period of growth for Apollo as we continue to expand ...

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Join GreenPort Congress Oceania – Showcasing innovation and sustainability

GreenPort Congress Oceania is the meeting place for port and logistic communities to learn the latest in sustainable environmental practice. Book now to join 150 Industry experts already attending. The 2 day conference programme is packed full of informative presentations and debates with keynote panel from Maersk, the International Association of Ports and Harbors (IAPH), Zilch Forwarding, Port of Newcastle and Port of Papua New Guinea. Engage with presenters from Lloyd’s Register, WWF-Australia, Port of Brisbane, Ramboll, CLIA and Royal Haskoning DHV. GreenPort Congress offers the chance to meet new ...

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HOT PORT NEWS from GAC

Cover letter requirement for petroleum product carriers 02 Feb 2023, Turkey From 6 February, the Turkish Ministry of Transport and Infrastructure will require ships carrying petroleum products to submit the P&I insurance letter covering its voyage and cargo. Read more » Revised fuel surcharge 02 Feb 2023, Gangavaram, India Adani Gangavaram Port has advised that the fuel surcharge on pilotage has been revised. Read more » Draft adjustment for Neopanamax locks 02 Feb 2023, Panama Canal, Panama From 1 March, the maximum authorized draft allowed for vessels transiting Neopanamax locks ...

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POSCO International to expand LNG terminal capacity

POSCO International Corp., the trading arm of South Korea’s steel giant POSCO Holdings Co., is expanding storage capacity at its liquefied natural gas (LNG) terminal as part of its efforts to support households lower heating costs. POSCO International plans to complete the ongoing expansion work for Tank 6 by June 2024 in Gwangyang, about 400 kilometers southwest of Seoul, to increase its storage capacity to 930,000 kiloliters. When the construction is completed, the terminal can store up to 2.13 million kiloliters of LNG. It also plans to invest 930 billion ...

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