port-and-ship
08 April 2025
Hellenic Shipping Newsport-and-ship
Apr 08, 2025Hellenic Shipping News
in International Shipping News
08/04/2025
Deputy Minister for Shipping Marina Hadjimanolis paid a visit to New York from April 3 to 5, as part of efforts to promote Cypriot shipping, according to an announcement released on Monday.
On April 4, she was among the keynote speakers at the 3rd Capital Link Cyprus Business Forum, held in cooperation with the Cyprus Shipowners’ Association and supported by the Deputy Ministry of Shipping and Invest Cyprus.
In her address, Hadjimanolis presented the advantages of the Cyprus ship registry and broader shipping cluster, while outlining the investment opportunities available to shipping companies setting up operations on the island.
She pointed to the competitiveness of the Cypriot tonnage tax system and referred to a series of actions undertaken by the Deputy Ministry over the past two years, which, she said, had contributed to an 18 per cent increase in the Cyprus registry over the past sixteen months, alongside a 15 per cent rise in companies registered under the tonnage tax regime.
The forum’s main speaker was the President of Cyprus, Nikos Christodoulides.
While in New York, the Deputy Minister met with shipowners from companies based in the United States, as well as with executives from firms operating in Asia and Europe.
Discussions focused on the potential registration of fleet vessels under the Cyprus flag and the possible inclusion of operations within the tonnage tax system.
According to the Deputy Ministry, companies expressed strong interest in exploring collaboration.
Hadjimanolis also took part in a special event at the New York Stock Exchange on April 4, held in honour of Cyprus and organised in cooperation with NYSE-listed shipping company Safe Bulkers Inc.
The event marked a symbolic moment for Cyprus on the international stage, with President Christodoulides ringing the closing bell of the NYSE.
Source: Cyprus Mail
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Genco Shipping & Trading Closes New $600 Million Revolving Credit Facility, Increasing Borrowing Capacity By 50%in Dry Bulk Market,International Shipping News
16/07/2025
Genco Shipping & Trading Limited, the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced it has closed a $600 million revolving credit facility, amending its existing facility to provide significant capacity to pursue accretive growth opportunities among other uses.
Key terms of the $600 million revolving credit facility include:
John C. Wobensmith, Chief Executive Officer, commented, “We are pleased to have meaningfully increased our borrowing capacity under attractive terms, which is a reflection of Genco’s industry leading balance sheet and our strong track record of executing our proven value strategy and providing shareholder returns through the drybulk cycle. Having significant capital readily available puts Genco in a highly advantageous position to act decisively to capture attractive growth opportunities for shareholders. We believe that Genco’s capital structure offers a compelling risk-reward balance, while also providing significant financial flexibility and optionality that goes hand-in-hand with our capital allocation strategy focused on dividends, deleveraging and growth. We maintain an overall positive view of the drybulk market, due to the solid supply side fundamentals, and with $500 million of undrawn revolver availability, we are in an optimal position to renew and grow our asset base.”
Peter Allen, Chief Financial Officer, commented, “With this latest increased $600 million credit facility, Genco achieved several important objectives, including upsizing our borrowing capacity, extending maturity, reducing margin, and improving several other key terms. Notably, the lack of commitment reductions until March 31, 2027 enables Genco to maintain the full $600 million of borrowing capacity for an extended period of time adding to our optionality as markets develop. Furthermore, the full revolving credit facility structure fits well into our broader capital allocation approach, providing the flexibility to continue to paydown debt while maintaining the ability to strategically access capital when attractive opportunities materialize. We appreciate the continued support of our high-quality bank group, as we continue to execute Genco’s strategy.”
Lenders of the revolving credit facility include reputable international shipping banks that are a part of our existing bank group. Nordea Bank Abp, New York Branch (“Nordea”) acted as Coordinator, Sustainability Coordinator, Administrative Agent, Collateral Agent and Security Trustee. Nordea, Skandinaviska Enskilda AB (publ), DNB Markets, Inc and ING Capital LLC acted as Mandated Lead Arrangers & Bookrunners, CTBC Bank Co., Ltd as Mandated Lead Arranger and First-Citizens Bank & Trust as Co-Arranger.
Genco has $100 million of debt outstanding and $500 million of undrawn revolver availability as of the date of this press release.
*Margin is based on a grid of 1.75% to 2.15% depending on total net indebtedness to EBITDA. This is down from 1.85% to 2.15% previously. The commitment fee on undrawn amounts is reduced from 40% of margin to 35% of margin.
Source: Genco Shipping & Trading Limited
Hellenic Shipping News
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16 July 20253 min readGenco Shipping & Trading Closes New $600 Million Revolving Credit Facility, Increasing Borrowing Capacity By 50%
Hellenic Shipping News
16 July 2025
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Its Begins $365 Million Terminal Expansion At Port Of Long BeachInternational Transportation Service (ITS) has officially launched a major expansion project at the Port of Long Beach to increase cargo-handling efficiency and create more terminal space.
The $365 million project broke ground on July 11 and will add 19 acres of new land to the Pier G terminal by filling in an unused water slip.
The extra space will be used to stack more cargo containers and improve terminal operations. ITS also plans to build a 3,400-foot-long wharf that will allow two of the world’s largest container ships to dock at the same time.
City officials welcomed the project, saying it will benefit the port, the local workforce, and the overall supply chain. Long Beach’s Mayor said that ITS, a longtime tenant of the port for over 50 years, is making an investment that will bring long-term advantages. The mayor also mentioned that the expansion would help move cargo more smoothly and create stable union jobs with good pay.
Port of Long Beach officials shared that ITS was the first company to sign a “green lease” nearly 20 years ago, showing early commitment to reducing environmental impact. They said that ITS is now continuing that effort by increasing terminal capacity. According to the Port’s CEO, the new construction will support the U.S. economy by building up infrastructure and boosting efficiency.
The Long Beach Board of Harbor Commissioners also highlighted ITS’s work in reducing emissions and moving more cargo by rail. Officials described the company as a strong environmental partner and praised its efforts to modernise operations.
ITS said the project will rely on local labor and American-made materials. According to ITS Long Beach’s CEO, the goal is to strengthen the nation’s supply chain while keeping both economic and environmental benefits in the U.S. The company stated that this expansion prepares them for the future of global trade by upgrading key infrastructure right at home.
The ITS terminal is located in the outer harbor and is currently divided by a large slip, which is no longer needed. The plan is to fill this area using approximately 2.5 million cubic yards of sediment. This fill material will come from two sources: reused sediment from the Port’s Harbor District and dredged sediment from Newport Harbor in Newport Beach.
Construction is expected to be completed by late 2028. Once finished, the expanded terminal will give ITS and the Port of Long Beach more space, greater ship-handling capacity, and a smoother, more efficient cargo flow.
Reference: Port of Long Beach
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In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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16 July 20254 min readIts Begins $365 Million Terminal Expansion At Port Of Long Beach
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16 July 2025
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Dp World To Develop, Operate Syrian Port In $800M, 30-Year DealPhoto credit: DP World
DP World has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus, according to DP World announcement.
As part of the agreement, DP World will invest $800m over the duration of the concession to upgrade the port’s infrastructure and position it as a critical regional trade hub connecting Southern Europe, the Middle East and North Africa.
Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria’s economic reintegration.
Structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port’s container and general cargo terminals.
Sultan Ahmed bin Sulayem, chairman and group CEO of DP World, said: “We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.”
Located on Syria’s Mediterranean coast, Tartus is the country’s second-largest port and a key maritime gateway to trade routes across Europe, the Levant and North Africa.
Its strategic position enhances regional connectivity, complementing existing routes through the Bosporus and Suez.
The redevelopment will enable Tartus to handle general cargo, containers, breakbulk, and roll-on/roll-off traffic, expanding Syria’s trade potential as the country continues to rebuild.
DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders.
Trade drives reintegration and resilience.I’m proud to have signed a 30-year agreement to redevelop Syria’s Tartus Port – in the presence of President Ahmed Al-Sharaa – with a USD 800M investment to reconnect the region through trade and infrastructure. pic.twitter.com/TnZC5iVTa9
Shipping Telegraph
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15 July 20252 min readDp World To Develop, Operate Syrian Port In $800M, 30-Year Deal
Shipping Telegraph
15 July 2025
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Port Of Long Beach Breaks Ground On $365 Million Terminal Expansion ProjectBreaking ground on a $365 million terminal expansion project at the ITS terminal at Pier G in the Port of Long Beach. The project to fill in a slip will create 19 acres of new land in the terminal. Photo courtesy Port of Long Beach
International Transportation Service (ITS) has broken ground on a significant terminal expansion project at the Port of Long Beach that will substantially increase capacity and operational efficiency.
The $365 million project will create 19 acres of new land by filling an unneeded slip in the middle of the Pier G terminal. Additionally, ITS will construct a single, continuous wharf measuring 3,400 feet, allowing the simultaneous accommodation of two of the industry’s largest cargo ships.
“This investment by ITS will create benefits for decades to come with more cargo moving smoothly without delays and greater opportunities for waterfront labor – union jobs with good, dependable incomes,” said Long Beach Mayor Rex Richardson.
Port of Long Beach CEO Mario Cordero highlighted ITS’s environmental commitment, noting that the company “became our first to sign a green lease” nearly 20 years ago.
Located in the outer harbor, the ITS terminal is currently split by the south slip, which will be filled with approximately 2.5 million cubic yards of reused sediment from within the Harbor District and dredged materials from Newport Harbor. The project is expected to be completed in late 2028.
“This project strengthens America’s supply chain by investing in infrastructure the right way — using local labor and U.S.-made materials,” said ITS Long Beach CEO Kim Holtermand.” We’re not just preparing for the future — we’re building it here, at home.”
The expansion aligns with the Port’s Green Port Policy, established in 2005, which has implemented programs to improve environmental conditions while maintaining sustainable practices.
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15 July 20252 min readPort Of Long Beach Breaks Ground On $365 Million Terminal Expansion Project
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15 July 2025
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Dp World To Invest $800M Developing Syrian PortDP World has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the port of Tartus.
As part of the agreement, DP World will invest $800m over the duration of the concession to upgrade the port’s infrastructure and position it as a regional trade hub connecting southern Europe, the Middle East and North Africa.
Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria’s economic reintegration. Structured as a build-operate-transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port’s container and general cargo terminals.
DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders, supporting broader economic diversification and trade facilitation efforts.
In May, CMA CGM signed a 30-year deal with the new Syrian government to develop Latakia port, including building a new berth and investing $260m to bolster Syria’s top port.
Trade drives reintegration and resilience.I’m proud to have signed a 30-year agreement to redevelop Syria’s Tartus Port – in the presence of President Ahmed Al-Sharaa – with a USD 800M investment to reconnect the region through trade and infrastructure. pic.twitter.com/TnZC5iVTa9
Splash247
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14 July 20252 min readDp World To Invest $800M Developing Syrian Port
Splash247
14 July 2025
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Dp World Signs $800M Deal To Develop Tartus PortThe Build-Operate-Transfer (BOT) deal includes an $800 million investment over the concession period to modernise the port and establish it as a strategic trade hub linking Southern Europe, the Middle East, and North Africa.
The agreement was signed in Damascus by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of the General Authority for Land and Sea Ports, in the presence of Syrian President His Excellency Ahmed Al-Sharaa.
Following over a decade of conflict and limited infrastructure investment, the Tartus redevelopment is a key step in Syria’s economic reintegration.
The project will introduce upgraded infrastructure, advanced cargo-handling equipment, and digital systems to improve operations across both container and general cargo terminals.
READ: DP World debuts scanner to cut customs delays in Constanta
Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, said: “We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment.
“We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.”
READ: DP World sets record with slag vessel at Egyptian port
Qutaiba Ahmed Badawi, Chairman of Syria’s General Authority for Land and Sea Ports, stated: “Partnering with DP World will allow us to modernise and strengthen the efficiency of our trade infrastructure as we continue to rebuild key trade lanes, support the national economy and provide more opportunities for the Syrian people.
“The agreement reflects our shared vision to transform Tartus into a strategic gateway linking Syria with regional and international markets and it will pave the way for sustainable growth for years to come.”
Tartus, located on Syria’s Mediterranean coast, is the country’s second-largest port and a critical access point to regional and international shipping routes, including those through the Bosporus and Suez Canal.
The redevelopment will expand the port’s capacity to handle general cargo, containers, breakbulk, and RoRo traffic.
DP World also plans to explore further logistics projects in Syria, such as free zones, inland logistics hubs, and transit corridors, in coordination with local partners.
Recently, DP World‘s terminal at the Port of Callao reported record volumes, including a 19 per cent increase in container throughput and a sharp rise in agricultural exports.
Port Technology International
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14 July 20252 min readDp World Signs $800M Deal To Develop Tartus Port
Port Technology International
14 July 2025
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Its Announces $365M Terminal Expansion At Port Of Long BeachFeature image: © ITS
The project, set to begin in July 2025 and finish by December 2028, will be delivered by the Dutra / Griffith Company Joint Venture, with a strong focus on using American materials and local labour.
Once completed, the expanded ITS terminal will increase cargo-handling capacity by up to 50 per cent, positioning ITS for long-term growth at one of the world’s busiest ports.
A key component of the project is a 560-foot extension of the existing quay, achieved by filling in a 19-acre “horseshoe” gap at the terminal. This upgrade will enable ITS to berth up to two 18,000 TEU container vessels simultaneously, significantly increasing overall terminal throughput.
READ: Port of Long Beach eyes June rebound after May decline
Kim Holtermand, Chief Executive Officer of ITS Long Beach, commented: “This project strengthens America’s supply chain by investing in infrastructure the right way, using local labour and US-made materials. We’re not just preparing for the future, we’re building it here, at home.”
Mario Cordero, CEO of the Port of Long Beach, added: “By ‘building more America now’, ITS is also building more land for the Port of Long Beach while expanding capacity and driving efficiency on its terminal.”
READ: Port of Long Beach named busiest US port in Q1 2025
The project is expected to create over three years of consistent employment for local workers, union trades, and small businesses.
Materials will be sourced domestically, including rock from Catalina Island, dredged materials from Newport and the Port of Long Beach Harbour, and American-made concrete pilings and structural materials installed by local subcontractors.
The South Slip Fill Project follows earlier upgrades at the ITS Long Beach terminal, such as the introduction of the port’s first on-dock rail system and new electric ship-to-shore cranes.
The Port of Long Beach is ramping up green investment. In March this year, the port announced plans to allocate up to 70 per cent of its annual budget for zero-emission truck incentives, refocusing on fleet turnover as charging and fuelling infrastructure for zero-emission vehicles continues to expand.
Port Technology International
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14 July 20252 min readIts Announces $365M Terminal Expansion At Port Of Long Beach
Port Technology International
14 July 2025
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Dp World To Invest $800 Million To Rebuild Syria’S Tartus PortDP World, a Dubai-based logistics company, has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus.
As part of this long-term deal, the company will invest USD 800 million over the full period to upgrade the port’s infrastructure and help turn it into a regional trade hub.
The agreement was signed in Damascus in the presence of the President of the Syrian Arab Republic, Ahmed Al-Sharaa. It was signed by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of the General Authority for Land and Sea Ports.
The Port of Tartus is located on Syria’s Mediterranean coast and is the second-largest port in the country. The redevelopment comes after more than ten years of conflict and is expected to support Syria’s economic recovery and improve its role in international trade.
DP World will fully own the project during the concession under a Build-Operate-Transfer (BOT) model. The plan involves developing new infrastructure, upgrading cargo-handling equipment with advanced technology, and implementing digital systems to enhance efficiency at the port’s container and general cargo terminals.
The company sees strong potential in Tartus to become an important trade gateway that connects Southern Europe, the Middle East, and North Africa.
With this agreement, Syria aims to modernise the Port of Tartus, improve the efficiency of its trade operations, rebuild its key trade routes, support the national economy, and create more opportunities for Syrian people.
Once redeveloped, the port will be able to handle general cargo, breakbulk, containers, and roll-on/roll-off traffic. Its strategic location will boost regional connectivity and expand Syria’s trade capacity. The port’s position also complements existing routes through the Bosporus and the Suez Canal.
DP World also plans to explore other opportunities in Syria. These include setting up free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders. These efforts aim to support economic diversification and improve trade in the region.
Reference: DP World
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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14 July 20253 min readDp World To Invest $800 Million To Rebuild Syria’S Tartus Port
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14 July 2025
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Its Announces $365 Million Expansion Project At Port Of...July 14, 2025
International Transportation Service (ITS) has announced the launch of the South Slip Fill Project, a $365 million terminal expansion that will support some of the world’s largest container ships and deliver long-term benefits to the local economy.
When completed in 2028, the larger ITS terminal at the Port of Long Beach will increase cargo-handling capacity up to 50 percent and position ITS for long-term growth at one of the world’s busiest ports.
A key part of the project is a 560-foot extension of the existing quay (wharf). This upgrade, which begins with filling in a 19-acre “horseshoe” gap at the terminal, will allow ITS to simultaneously berth up to two 18,000 TEU container vessels, a step forward in handling the next generation of ultra-large ships and increasing overall terminal throughput.
Scheduled to begin in July 2025, the project will be delivered by the Dutra / Griffith Company Joint Venture, with a focus on domestic sourcing and regional job creation. The South Slip Fill Project will create more than three years of consistent employment for local workers, union trades, and small businesses.
The wharf expansion project is the latest in a series of upgrades at the ITS Long Beach terminal. Prior improvements includes the first on-dock rail system at the Port of Long Beach and the addition of five new electric ship-to-shore cranes capable of serving the largest container ships.
Project Overview
Maritime Logistics Professional
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14 July 20252 min readIts Announces $365 Million Expansion Project At Port Of...
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14 July 2025
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Syria Signs $800 Million Agreement With Dp World To Bolster Ports InfrastructureA drone view shows port of the coastal city of Latakia, Syria March 11, 2025. REUTERS/Karam al-Masri
July 13 (Reuters) – Syria’s General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE’s DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.
The agreement follows on from a memorandum of understanding signed between the two sides in May.
The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria’s Mediterranean coast and cooperation in setting up industrial and free trade zones.
The signing ceremony was attended by Syrian President Ahmed al-Sharaa.
Last month, U.S. President Donald Trump signed an executive order terminating a U.S. sanctions program on Syria, paving the way for an end to the country’s isolation from the international financial system and for the rebuilding of its economy shattered by the civil war.
The removal of U.S. sanctions will also clear the way for greater engagement by humanitarian organizations working in Syria, easing foreign investment and trade as the country rebuilds.
(Reporting by Elwely Elwelly; Writing by Menna Alaa El-Din; Editing by Louise Heavens and Jane Merriman)
(c) Copyright Thomson Reuters 2025.
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13 July 20252 min readSyria Signs $800 Million Agreement With Dp World To Bolster Ports Infrastructure
gCaptain
13 July 2025
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Syria Signs $800 Million Agreement With Dp WorldSyria's General Authority for Land and Sea Ports on Sunday signed a $800 million agreement with UAE's DP World to bolster Syrian ports infrastructure and logistical services, Syrian state news agency SANA reported.
The agreement follows on from a memorandum of understanding signed between the two sides in May.
The deal with DP World, a subsidiary of United Arab Emirates investment company Dubai World, focuses on developing a multi-purpose terminal at Tartous on Syria's Mediterranean.
Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria’s economic reintegration. Structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port’s container and general cargo terminals.
Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, said: “This agreement reflects our long-term commitment to enabling global trade and creating resilient supply chains. We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.”
Located on Syria’s Mediterranean coast, Tartus is the country’s second-largest port and a key maritime gateway to trade routes across Europe, the Levant and North Africa. Its strategic position enhances regional connectivity, complementing existing routes through the Bosporus and Suez. The redevelopment will enable Tartus to handle general cargo, containers, breakbulk, and roll-on/roll-off traffic, expanding Syria’s trade potential as the country continues to rebuild.
DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders, supporting broader economic diversification and trade facilitation efforts.
The signing ceremony was attended by Syrian President Ahmed al-Sharaa.
Last month, U.S. President Donald Trump signed an executive order terminating a U.S. sanctions program on Syria, paving the way for an end to the country's isolation from the international financial system and for the rebuilding of its economy shattered by the civil war.
The removal of U.S. sanctions will also clear the way for greater engagement by humanitarian organisations working in Syria, easing foreign investment and trade as the country rebuilds.
(Reuters and staff)
Marine Link
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13 July 20252 min readSyria Signs $800 Million Agreement With Dp World
Marine Link
13 July 2025
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Vancouver Port Authority Begins Bidding Process For $3 Billion Container Terminal To Boost Trade CapacityPhoto courtesy Vancouver Fraser Port Authority
The Vancouver Fraser Port Authority has initiated the procurement process for the Roberts Bank Terminal 2 Project, marking a significant milestone for Canada’s trade infrastructure development. The authority is seeking qualified teams to build the landmass and wharf component of this nationally significant marine container terminal.
The future terminal will unlock over $100 billion in new trade capacity and contribute $3 billion in GDP annually to Canada’s economy. Construction is planned to begin in 2028, with operations expected to commence by the mid-2030s.
“We’re excited to issue the request for qualifications today and move this vital project forward. To meet Canada’s needs in today’s quickly evolving trade landscape, we have accelerated our efforts to deliver Roberts Bank Terminal 2—a project that will strengthen Canada’s economic security and deliver trade resilience,” said Victor Pang, CFO at the port authority.
The selected procurement model is a progressive design-build with target price approach. An independent fairness monitor will oversee the process. The contract includes delivery of a 100-hectare marine landmass, 35-hectare widened causeway, 1,300-metre wharf structure, berth pocket, and expanded tug basin.
Environmental considerations are central to the project. The contract includes construction of a marine terminal fish passage to support juvenile salmon migration and civil works for habitat enhancement, including the South Arm Jetty Tidal Marsh Project—a priority for First Nations.
Interested construction teams must provide interim submissions by September 18, 2025, and qualification details by September 25, 2025. The port authority will shortlist three teams this fall for the proposal stage.
The project has gained consent from 27 First Nations, with whom the port authority has signed mutual benefits agreements. Consultation will continue regarding economic development opportunities for Indigenous communities.
Roberts Bank Terminal 2 is projected to generate more than 18,000 construction jobs and 17,000 long-term jobs during operation. It will increase container trade capacity by more than 30% on Canada’s west coast and add 320 acres of usable waterfront industrial land.
Construction companies interested in the project can attend an information session in Vancouver on July 22, 2025.
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11 July 20252 min readVancouver Port Authority Begins Bidding Process For $3 Billion Container Terminal To Boost Trade Capacity
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11 July 2025
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