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14 March 2025
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Mar 14, 2025Hellenic Shipping News
in Port News
14/03/2025
DP World Limited has announced financial results for the year ended 31 December 2024. On a reported basis, revenue grew by 9.7% to $20.0 billion and adjusted EBITDAÂł rose by 6.7% to $5.5 billion with an adjusted EBITDA margin of 27.2%.
Results Highlights
Revenue increased by 9.7% to a record $20.0 billion
Adjusted EBITDA increased by 6.7% to a record $5.5 billion
Profit for the year was $1.5 billion
DP World capacity exceeds 100 million TEU – continued investment in key growth markets
DP World focused on driving revenue synergies and building long-term relationships with cargo owners
Strong cash generation and lower net Leverage
Committed to long-term sustainability transition
Strong 2024 performance, positioned for resilient growth despite uncertainty
DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, commented:
We are proud to report record revenue of $20.0 billion and record EBITDA of $5.5 billion for 2024, a remarkable achievement given the complex geopolitical landscape. These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimization.
This strategy is positioning DP World for sustained long-term growth and value creation. By enhancing efficiency, expanding our capabilities and deepening partnerships, we are building a resilient business, well-equipped to capitalise on new opportunities as global trade evolves.
We continue to strengthen our logistics platform, attracting more cargo owners with end-to-end, tailored solutions that drive efficiency and improve the flow of trade. The increased demand for our integrated offerings highlights the value we bring to customers seeking optimized, high-performance supply chain solutions.
Our asset-appropriate strategy, combined with critical infrastructure in key markets, ensures that we scale efficiently while delivering specialized capabilities where they are needed most. Strategic investments in high-growth sectors and emerging trade corridors are expanding our expertise, enabling us to provide value-added solutions. By enhancing connectivity and streamlining supply chains, we are reinforcing DP World’s role as a leading trade enabler—helping cargo owners navigate complexity, go to market quicker and build greater supply chain resilience.
In 2024, we delivered a strong performance, further reinforcing our financial position by reducing net leverage and strengthening the balance sheet. While the year has started on a positive note, global trade remains in flux due to ongoing geopolitical challenges. We remain confident in the strength of our portfolio, which we expect to continue delivering robust performance.
As part of our long-term strategy, we continue to invest in our portfolio through targeted bolt-on acquisitions, expand into new locations and add high-value capabilities that align with our clients’ evolving needs. We maintain a positive medium-term outlook, supported by strong industry fundamentals and DP World’s ability to deliver sustainable, long-term returns.
Source: DP World
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Cargo Throughput Going Through Three Gorges Dam Ship Lock Reaches 2.24 Billion TonsThe cumulative cargo throughput of the ship locks of the Three Gorges Dam, part of the world’s largest hydropower project, has reached 2.24 billion tons, a milestone in China’s inland waterway transportation, according to data on Wednesday.
Since its opening to navigation in 2003, the Three Gorges Dam ship locks have operated safely and efficiently, improving navigation on the Yangtze River. Over the past 22 years, they have recorded a cumulative freight volume of 2.24 billion tons, 215,000 lock operations, more than 1.074 million cargo vessels, and more than 12.291 million passengers, according to data from the Three Gorges Navigation Authority.
These achievements demonstrate the efficiency of the ship locks and highlight their vital role in maximizing the economic benefits of the Yangtze River’s “golden waterway,” CCTV News reported.
The ship locks are part of the Three Gorges project, a multi-functional water control system located on the Yangtze River, the country’s longest waterway, according to the Xinhua News Agency.
Over the past two decades, the ship locks have continuously broken records in cargo throughput.
From 2022 to 2024, the annual volume of the Three Gorges ship locks surpassed 150 million metric tons each year. Annual cargo throughput soared from 34 million tons at the beginning of its operation to a peak of 169 million tons. Designed with a one-way annual capacity of 50 million tons, the locks have greatly exceeded expectations, highlighting their key role in the high-quality development of the Yangtze River’s waterway, according to another CCTV News report in March.
Li Ran, director of the Navigation Engineering Technology Center of the Three Gorges Navigation Authority, said that the construction of the Three Gorges project has significantly improved the navigation conditions of the upstream reservoir area. The natural advantages of water transport such as low costs and environmental benefits have led to a constant increase in shipping demand, exceeding the ship locks’ original designed capacity.
The Three Gorges Dam ship locks are the world’s most technologically complex inland river locks, spanning a total length of 6.4 kilometers. This includes a 1.66-kilometer main lock structure and a 4.8-kilometer approach channel.
Unlike the Panama Canal locks, which are shorter and mainly serve international shipping, the Three Gorges ship locks are designed to serve both domestic and international vessels. Their main focus is on optimizing the efficiency of China’s inland waterway transportation system, Ye Yong, general manager of the Tourism Development Division at the Three Gorges Tourism Group, told the Global Times on Wednesday.
According to Li, cargo demand has surged following the completion of the Three Gorges project, driven by the lower costs and environmental advantages of water transport.
“To improve passage efficiency, my technical team and I sought a solution,” Li said, adding that the ship locks are set to receive upgrades driven by artificial intelligence. Using big data and machine learning, the locks are expected to further optimize task scheduling, allowing vessels to receive real-time transit estimates from departure to destination.
Source: Global Times
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20 June 20255 min readCargo Throughput Going Through Three Gorges Dam Ship Lock Reaches 2.24 Billion Tons
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Port Houston Secures $214 Million For Channel UpgradesThese funds are in addition to the $33 million for Project 11 and $98 million for O&M included in the U.S. Army Corps of Engineers’ FY 2025 Workplan.
Port Houston Chairman Ric Campo expressed appreciation to industry partners, stakeholders, Congressman Wesley Hunt, and the bipartisan delegation for their continued support.
READ: Port Houston adds hybrid RTGs cranes at Bayport Terminal
Chairman Campo said: “We appreciate the Trump Administration for recognising the criticality of this expansion and applaud Congressman Wesley Hunt and Congressman Brian Babin for their tremendous advocacy and unwavering leadership to bring home the millions of federal dollars needed to complete Project 11.
“This project will keep our economy moving forward and enable our port to continue delivering for not just Houstonians but the entire nation.”
Congressman Hunt stated: “As the largest energy port in the entire world, Project 11’s success is essential to maintaining Texas’s and the United States’ energy dominance.
“I would also like to express my sincerest gratitude to President Trump for recognising the importance of this project and his goal of ensuring America is once again a net exporter of energy.”
READ: Port Houston April volumes soar 20 per cent
Several segments of the Houston Ship Channel expansion are already complete, reducing daylight restrictions by up to two hours and improving two-way vessel traffic.
Port Houston expects to finish its final dredging phase this summer, with the U.S. Army Corps of Engineers leading the remaining work. Project 11 is set for completion by 2029.
Recently, DSP signed an agreement with Port Houston to support the processing and maintenance of its Electronic Data Interchange (EDI) messages and database systems.
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19 June 20255 min readPort Houston Secures $214 Million For Channel Upgrades
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Port Of Duqm Secures Us$550 Million Investment BoostInvestcorp, a leading global investment firm, is to invest in a US$550 million port infrastructure project at the Port of Duqm in Oman. The investment will be made through Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture with Aberdeen, which will become a shareholder in the project, alongside the Port of Duqm Company, the DEME Group and Port of Antwerp Bruges. These stakeholders have come together in a jointly-formed a consortium named CAP INFRA.
This investment reflects AIIP’s mandate to invest in long-term concessions across GCC countries and the broader MENA region, and to develop partnerships with major maritime and port development players, such as the Port of Duqm Company and CAP INFRA.
Located in a prime central location in Oman, the Port of Duqm operates as a multipurpose logistics hub, handling container shipments, dry and liquid bulk, general and bagged cargo. As part of the planned marine infrastructure works, further dredging and the construction of a new quay wall are envisaged and this will service a new low-carbon industrial plant within the Special Economic Zone at Duqm.
The opportunity to invest in the project arose through a competitive bidding process, with AIIP securing the opportunity over four other contenders, highlighting investor confidence in the port’s long term potential. Reggy Vermeulen, Chief Executive Officer at Port of Duqm Company, commented: “We are proud to partner with AIIP to support the development of the port’s infrastructure. This investment is a strong vote of confidence in the Port of Duqm’s vision and future.”
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16 June 20255 min readPort Of Duqm Secures Us$550 Million Investment Boost
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Meta Ceo’S $300 Million Mega Yacht Spotted Along The Corinthian Gulf CoastMark Zuckerberg’s yacht, the Launchpad and its support ship Wingman were seen in the Corinthian Gulf. However, there has not been a confirmed sighting of the Meta CEO.
The 300 million dollar yacht was first seen in the Ionian Sea and later close to the tourist resort of Alepochori, west of Athens.
The sight of this superyacht drew attention, and local port authorities and police responded to this profile, fuelling speculations about the presence of Zuckerberg, his wife, and many guests onboard the yacht.
On Tuesday night, many crew members from the 68 m Wingman, equipped with a helipad and a 15 m tender for short trips, came ashore in Alepochori for an evening stroll in the village.
The yacht is expected to sail through the Corinth Canal in the coming days, continuing its journey toward the Cyclades.
This journey comes after it was known that he was handling the development of a superintelligent AI, and stepping in to directly recruit and lead the development efforts amidst growing pressure from competitors.
According to some sources, Zuckerberg is hosting AI researchers at his home and offering them handsome packages stretching into the 9-figure range.
Coming back to his yacht, the Lauchpad is like a city on water. It is bigger than a soccer pitch and takes about 30 million annually in maintenance and running costs.
Details about the interior amenities of Zuckerberg’s mega yacht are scarce due to the yacht’s privacy; it is said that it has several guest suites, a master bedroom with a private balcony and lavish bathrooms.
It also boasts a cinema, virtual reality lounge, game room, gym, spa, sauna, a yoga studio and other amenities.
It also has decks with swimming pools, sunbathing areas, alfresco dining options and hot tubs.
Launchpad was made by Feadship, the shipyard which also built Bill Gates’ yacht and billionaire Michael Latifi’s yacht.
References: Greek Reporter, Tovima
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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 June 20255 min readMeta Ceo’S $300 Million Mega Yacht Spotted Along The Corinthian Gulf Coast
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Wan Hai Invests Us$150 Million In 48,000-Container OrderWan Hai Lines has ordered a total of 48,000 containers for around US$150 million in two tranches, according to DynaLiners.
The Taiwanese ocean carrier has ordered 30,000 boxes from CIMC at around US$100 million and 18,000 containers from Singamas at approximately US$50 million.
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Nibulon To Export 1 Million Tons Of Grain Via Black Sea...June 13, 2025
Nibulon, one of Ukraine's biggest grain companies, said on Friday it has signed a deal with the operator of the Ukrainian Black Sea port of Chornomorsk to export up to one million metric tons of grain in the July 2025-June 2026 season.
Nibulon's own export terminal in Mykolaiv has been blocked since the start of the Russian invasion in 2022.
Only three Ukrainian Black Sea ports in the Odesa region, including Chornomorsk, are currently operating.
"The signing of the contract is a decisive step in the formation of a flexible logistics model that will allow Nibulon to maintain continuity of exports even without access to its own terminal," the company said on Facebook.
Southern Ukrainian regions, including Mykolaiv and Odesa, have already started the 2025 grain harvest, which is forecast to decrease by 10% from last year due to poor weather.
Ukrainian agriculture minister Vitaliy Koval told Reuters this month that the 2025 grain harvest may fall to around 51 million tons, from 56.7 million tons in 2024.
His first deputy, Taras Vysotskiy, told Reuters that grain exports may total 35-40 million tons in 2025/26.
(Reuters)
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13 June 20255 min readNibulon To Export 1 Million Tons Of Grain Via Black Sea...
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China Coal Imports Could Drop By Up To 100 Million Tons In 2025, Industry Group Saysin Dry Bulk Market,Freight News
12/06/2025
China’s coal imports could drop by up to 100 million metric tons in 2025, an official at a major industry group said, potentially putting further pressure on key price benchmarks already trading at multi-year lows.
Imports by the world’s largest consumer, importer and producer of the fossil fuel rose to a record high of 542.7 million metric tons in 2024, as lower international coal prices spurred buyers to substitute imports for domestic supply.
Shipments could fall by 50 million to 100 million tons in 2025, Xuegang Li, vice president at China Coal Transportation and Distribution Association, told the Coaltrans China conference on Wednesday.
Coal imports were 8% lower in the five months to the end of May, official data showed. A decline of 100 million tons this year would amount to a drop of 18.4% annually.
“The decrease in China’s coal imports in 2025 will exceed expectations,” Li said, without indicating how much he expected imports of thermal coal and metallurgical coal to fall.
Thermal coal is mainly used in power generation, while metallurgical coal is used in steelmaking processes.
The Chinese government’s recent directives to coal-fired power plants to reduce imports and stockpile more of the domestically mined fuel could put further pressure on prices.
Indonesian (IDIDX42GRW1=ARG) and Australian (API5DXWKY=ARG) coal indices reflecting grades preferred by Chinese buyers have been trending lower since October 2023, with the Indonesian grade falling 25% and the Australian grade 37% in that period.
Domestic coal production is expected to increase by 70 to 80 million tons this year after falling in 2024, which would contribute to lower import requirements, Li said.
Rising renewable output has also helped China progressively cut dependence on thermal coal, which accounts for the bulk of coal consumption in the world’s second largest economy.
The share of coal in power generation fell to a record low of 54% in April, with the share of wind and solar in overall output rising to 26%, data from energy think-tank Ember showed.
“Looking ahead, coal production will increasingly be constrained by capacity limit,” Li said, adding that China’s total coal consumption could peak by 2027 or 2028.
Source: Reuters
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12 June 20255 min readChina Coal Imports Could Drop By Up To 100 Million Tons In 2025, Industry Group Says
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China May Soybean Imports Hit Record High Of 13.92 Million Metric Tonsin Dry Bulk Market,Freight News
11/06/2025
China soybean imports hit a record high of 13.92 million metric tons in May, customs data showed on Monday, more than double the volume imported in April, as customs clearance speeds returned to normal and the operating rate of crushing plants recovered.
Imports had plunged to a 10-year low of 6.08 million metric tons in April, as prolonged customs delays and late shipments from Brazil – caused by harvest slowdowns and logistical issues – disrupted the usual cargo flow.
Customs clearance speed has returned to around two weeks from 20-25 days, said Rosa Wang, an analyst from Shanghai-based agro-consultancy JCI.
“The operating rate of crushing plants has risen to over 50%, and soybean meal deliveries have also been good,” Wang said, adding that May’s import volume exceeded her expectation of 12 million to 12.5 million metric tons.
Imports in May were up 36.2% from 10.22 million metric tons in the same period last year, based on Reuters’ calculations from customs data.
Imports in the first five months of the year totalled 37.11 million tons, 0.7% lower than the year-ago period, data from the General Administration of Customs showed.
Most imports come from top producer Brazil, which typically ships the bulk of its soybean crop between March and June.
Brazil exported 14.10 million tons of soybeans in May, up from 13.44 million tons in the same month last year, according to government data.
The country’s grain exporters association Anec forecast Brazil’s soybean exports will reach 12.55 million metric tons in June, down from 13.83 million tons in the same month last year.
In Argentina, the world’s third-largest producer, soybean yields continue to track higher than expected despite slower-than-usual harvesting due to heavy rainfall affecting multiple crops, the Rosario grains exchange said last week.
Source: Reuters
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11 June 20255 min readChina May Soybean Imports Hit Record High Of 13.92 Million Metric Tons
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Adnoc L&S Lands $530M Deal With Petchem Giant BorougeADNOC Logistics & Services (ADNOC L&S) has secured a 15-year contract with its compatriot polyolefins major, Borouge, to manage logistics for more than half of its annual petrochemicals output.
The deal, valued at $531m, covers port management, container handling, and feeder container ship services for the Borouge container terminal in Al Ruwais Industrial City, Abu Dhabi.
Founded in 1998, Borouge is a joint venture between the Abu Dhabi National Oil Company (ADNOC), which holds a 54% stake, and Borealis, a company majority-owned by Austria’s OMV. Borouge operates one of the world’s largest integrated polyolefin production facilities, providing materials for sectors such as infrastructure, mobility, healthcare, energy, agriculture, and advanced packaging.
Under the agreement, ADNOC L&S will manage the transportation of up to 70% of Borouge’s production, which is expected to increase by an estimated 1.4m tonnes per annum by the end of 2026 following the completion of the Borouge 4 plant expansion project.
The shipping and maritime logistics arm of ADNOC said it will deploy at least two feeder ships to transport products to the deepwater ports of Jebel Ali in Dubai and Khalifa Port in Abu Dhabi.
The two companies said the agreement should bring Borouge more than $50m in cost savings and efficiencies in the first five years.
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11 June 20255 min readAdnoc L&S Lands $530M Deal With Petchem Giant Borouge
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Port Of Brisbane Targets $25 Billion Growth With Vision 2060PBPL reported that industry, government, and community partners helped develop Vision 2060.
Backed by research, it outlines a path to boost economic growth while promoting innovation and environmental stewardship.
According to PBPL, Queensland’s population is expected to reach 8.3 million by 2060.
Container trade is projected to triple, while energy demand could rise as the port community drives decarbonisation. DAE’s modelling indicates that by 2060, the port and its supply chain could generate $25 billion in economic value for Queensland and support 125,000 jobs.
READ: Port of Brisbane delivers new home for DSV
PBPL outlined Vision 2060’s three key goals:
PBPL CEO, Neil Stephens, said: “This is a chance to create a cleaner, smarter, and more connected port that will drive Queensland’s prosperity for generations.”
“Vision 2060 invites all stakeholders to innovate, collaborate, and build a globally competitive port delivering lasting value. Ultimately, this is about ensuring Brisbane’s port of the future is driven by seamless connectivity, powered by clean energy and designed for future generations.”
In November 2024, the Cook Labor Government finalised plans for a new A$7.2 billion ($4.7 billion) container port in Kwinana, set to replace Fremantle as Western Australia’s primary port.
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11 June 20255 min readPort Of Brisbane Targets $25 Billion Growth With Vision 2060
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Cosco Signs $310 Million Deal To Lease Six New Heavylift Ships To FleetCOSCO Shipping Specialized Carriers has signed a $310 million bareboat charter agreement to lease six new multipurpose heavylift ships.
The vessels, each with a capacity of 60,000 deadweight tonnes (dwt), will be built at Chengxi Shipyard in China, which is affiliated with China State Shipbuilding Corporation (CSSC).
The agreement is with Bank of Communications Financial Leasing (BoComm Leasing), a leading Chinese leasing firm and subsidiary of Bank of Communications.
COSCO Shipping Specialized Carriers, listed in Shanghai and part of the larger China COSCO Shipping Group, will lease the vessels for 189 to 195 months, about 16 years. The charter will cost around $19.4 million annually, adding up to a total of approximately $310.6 million.
According to the company, the first four ships will be chartered at a daily rate of CNY63,500 (around $8,843), while the final two ships will have a slightly higher rate of CNY63,800 (about $8,885) per day. This brings the average daily charter rate to $8,864 per vessel.
These new vessels are designed to carry a range of specialized cargo such as wind power equipment, port machinery, heavy industrial parts, and large project cargoes. The ships will feature onboard cranes and strengthened cargo holds, making them more capable and versatile than standard bulk carriers.
The six MPP (multipurpose project) vessels are not yet listed in Chengxi Shipyard’s current orderbook, based on data from shipping database Clarksons, suggesting they are newly ordered for this specific deal.
COSCO Shipping Specialized Carriers operates a fleet of around 164 ships and is actively working to expand. The company stated that it is boosting its fleet by both ordering ships under its own name and entering into long-term charters through leasing partners like BoComm.
MPPs are described as one of its main operational vessel types, and the company said this charter is aimed at better responding to market shifts and improving profitability.
Earlier this year, local Chinese media reported that COSCO Specialized Carriers plans to add over 50 new ships, including car carriers, multipurpose ships, and heavylift vessels, by the end of the year. This expansion is being driven by a rise in demand for transporting renewable energy components, port equipment, and other specialized goods.
In the first quarter of 2025, COSCO Specialized Carriers posted an operating profit of CNY5.2 billion, marking a 51.47% jump compared to the same period in 2024.
Its sister company, COSCO Shipping Bulk, has also been linked to major expansion plans. In May, it was behind an order for up to 30 ships at Fujian Mawei Shipbuilding. This included a firm order of 15 MPPs of 80,000 dwt each, placed by Citic Financial Leasing for COSCO Shipping Bulk, with options for 15 more vessels.
BoComm Leasing, which is providing the six newly chartered vessels, is one of the most active players in China’s maritime leasing sector. The company manages a fleet of over 470 vessels with a combined value exceeding $20.8 billion.
Reference: nauticalvoice
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11 June 20255 min readCosco Signs $310 Million Deal To Lease Six New Heavylift Ships To Fleet
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Panama Canal Chief Warns $23B Msc Port Deal Could Threaten Canal’S NeutralityRicaurte Vásquez Morales, the administrator of the Panama Canal Authority (ACP), has raised serious concerns about a $23 billion global port sale involving Mediterranean Shipping Company (MSC) and U.S. investment firm BlackRock, warning that it could threaten the canal’s neutrality and harm Panama’s competitiveness in global trade.
Morales said the sale of ports currently owned by Hong Kong-based CK Hutchison Holdings includes two key terminals in Panama, Balboa and Cristobal, located on either side of the canal. He cautioned that the deal, if finalised as currently structured, might lead to a concentration of power under one shipping giant, which goes against the long-standing principle of neutrality that governs the canal.
The Panama Canal operates under a neutrality agreement established through treaties signed in 1977 during U.S. President Jimmy Carter’s administration. These treaties led to the eventual handover of the canal from U.S. control to Panama by December 31, 1999. The neutrality clause ensures that the canal remains open and impartial to vessels from all nations.
The proposed transaction involves MSC and BlackRock taking control of 43 ports across 23 countries, including the Panama terminals. MSC, the world’s largest ocean carrier would gain significant leverage with control over such a large portion of port infrastructure.
Rival shipping companies and logistics operators have raised concerns that this move would give MSC an unfair advantage, allowing it to dominate transshipment routes and pricing. Vásquez confirmed these fears, calling the current state of global port competition “a significant battleground on transshipment capacity.” He said some ACP officials were worried the canal could lose traffic if Hutchison’s existing customers moved their operations to other ports controlled by MSC.
U.S. President Donald Trump has repeatedly claimed the Panama Canal is under Chinese influence due to CK Hutchison’s ownership of the Panama ports. He even said the U.S. should “take back” the canal, calling the sale to MSC and BlackRock a win for America to reduce China’s influence.
China doesn’t control the canal, but it strongly opposed the sale. Per reports, Chinese President Xi Jinping was furious that Hutchison moved ahead with the deal. In response, China’s antitrust regulator, the State Administration for Market Regulation (SAMR), launched an investigation and warned against splitting the Panama ports from the full 43-port deal to avoid review. Under pressure, Hutchison considered selling some or all of its 10 remaining Chinese ports separately.
Vásquez said the Panama Canal should use this situation as a chance to diversify. He suggested restarting a delayed project to build a terminal at the Port of Corozal, on the Pacific side of the canal. This would let the canal operate its own terminal and rely less on outside companies.
“This is a great opportunity to bring a new proposal,” Vásquez told the Financial Times.
Besides the MSC port deal, the Panama Canal Authority (ACP) is also under pressure from the U.S. Federal Maritime Commission (FMC). The FMC is closely monitoring how the canal allocates transit slots, especially after last year’s severe drought led to restrictions on ship traffic and increased tolls. FMC Chairman Louis Sola recently called the canal’s operations the commission’s “number one priority,” adding that U.S. officials are watching how the ACP manages drought-related challenges.
The ACP is working with the U.S. Army Corps of Engineers to improve water management to address future climate risks. A new reservoir is being planned in the Indio River area to help stabilise the canal’s water levels and prevent future transit reductions due to drought.
Additionally, the ACP is also exploring ways to diversify its business. Vásquez revealed that the authority is considering building a pipeline along the length of the canal to transport up to 1 million barrels per day of liquefied petroleum gas (LPG).
The pipeline would allow ships to unload cargo like LPG and ethane on one side of the canal and reload it on the other, freeing up valuable canal capacity for other shipments, including liquefied natural gas (LNG), which is in rising demand from Asia.
The pipeline would also help recover traffic lost during the 2023 drought, which caused many LNG customers to shift to alternative routes due to limited transit slots and higher tolls.
Meanwhile, U.S. authorities have requested that American government ships be allowed to pass through the canal for free. Vásquez responded that such a move is not legally possible, pointing out that even Panama’s own navy ships must pay tolls. “Free is not an option as presented,” he said, adding that any changes would have to comply with existing laws and treaty obligations.
References: Reuters, sourcingjournal
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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11 June 20255 min readPanama Canal Chief Warns $23B Msc Port Deal Could Threaten Canal’S Neutrality
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