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01 July 2025
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Jul 01, 2025Marine Insight
The U.K.’s border authorities have confiscated cocaine worth $132 million from a ship that came from Panama.
The haul of 2.4 tonnes of the drug seized at the London Gateway Port close to the capital was one of the biggest of its kind, said Border Force Maritime director Charlie Eastaugh.
The drug was found under the containers on the ship and is said to be the 6th largest cocaine seizure.
Specialist officers had found the shipment earlier this month after they carried out an intelligence-led operation and moved 37 containers to get at the stash.
The U.K is one of the largest European markets for cocaine, per the National Crime Agency. The U.K Government says that the cocaine linked deaths in Wales and England increased by 31% between 2022 and 2023.
The United Nations Office on Drugs and Crime’s (UNODC) annual World Drug Report stated that cocaine was the world’s fastest-growing illegal drug market.
The production of the drug in Colombia has soared as the demand for it has increased rapidly in Europe and South America.
The number of cocaine users in the world has kept increasing, reaching 25 million people in 2023, up from 17 million a decade ago.
Minister for Migration and Citizenship Seema Malhotra said that drug gangs try to import illegal substances into the U.K and cause death, misery and addiction to the youth.
References: Al Jazeera, World Cargo News
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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Ukraine’S Naftogaz To Buy 140 Million Cubic Metres Of Us Lng From OrlenUkraine’s state energy firm Naftogaz has signed a contract to buy 140 million cubic metres (mcm) of U.S. LNG from Poland’s Orlen PKN, Naftogaz said on Wednesday.
Ukraine needs to import large volumes of gas ahead of the 2025/26 heating season after Russian shelling left its storage sites almost empty.
“Naftogaz is diversifying its sources and routes of gas supply. This enhances Ukraine’s energy security and resilience amid the ongoing full-scale war with Russia,” Naftogaz CEO Sergii Koretskyi said in a statement.
Naftogaz said that it had already contracted a total of 440 mcm of LNG from Orlen.
The company added that the gas would be regasified at the LNG terminal in Świnoujście in Poland or the Klaipėda terminal in Lithuania and transported to Ukraine via the Polish gas transmission system.
A previous contract with Orlen for 100 mcm was signed in April.
Ukrainian energy minister German Galushchenko said last month that Ukraine needed to import at least 4.6 bcm of gas for the 2025/26 winter heating season.
Analysis firm ExPro said this week that gas reserves in Ukrainian storage facilities exceeded 8 billion cubic metres (bcm) as of June 28 but remain at their lowest level in the last 11 years.
Ukrainian energy officials have said the country needs to accumulate around 13 bcm of gas for the new heating season.
The data of Ukraine’s gas transmission operator showed that the country would import about 26.4 mcm of gas on Wednesday versus 26.5 mcm on Tuesday. Gas would come from Poland – 8.2 mcm, Hungary – 9.6 mcm and Slovakia – 6.8 mcm.
Ukrainian underground gas storage facilities are the largest in Europe and the third largest in the world and can store around 30 bcm of gas.
Source: Reuters
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03 July 20252 min readUkraine’S Naftogaz To Buy 140 Million Cubic Metres Of Us Lng From Orlen
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03 July 2025
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Pakistan Eyes $700 Million In Freight Earnings By Expanding Shipping Fleet — Maritime Ministryin International Shipping News
01/07/2025
The state-run Pakistan National Shipping Corporation (PNSC) is set to buy at least 24 more vessels in the next three years to generate an estimated $700 million in freight earnings, the maritime ministry said on Friday.
Pakistan currently owns 10 ships including five double-hull Aframax oil tankers and as many Supramax and Panamax bulk carriers.
“The national carrier is now targeting to increase its cargo handling to 52 percent by volume and 43 percent by value (excluding containerized cargo) within three years,” the ministry said in a statement.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced the three-year plan in a meeting held in Islamabad to discuss the government’s business strategy to revitalize the maritime and logistics sectors.
The move is part of Prime Minister Shehbaz Sharif’s strategy to renew and expand Pakistan’s aging shipping fleet in a phased manner to enhance cargo capacity, fuel efficiency and compliance with International Maritime Organization standards, including those governing carbon emissions and ballast water management.
The plan, if implemented, would boost the revenues of the national flag-carrier, whose income from shipping business declined 18 percent to Rs25 billion ($88.5 million) in July–March this year compared to the previous one, according to PNSC’s financial results posted on the Pakistan Stock Exchange website.
Muhammad Arshad, the ministry spokesman, told Arab News that Pakistan’s current fleet will be more than doubled with the induction of 13 vessels in the first year.
Eight vessels will be bought in the second year and three in the third, which would take the total to 34 vessels in Pakistan’s fleet by 2028.
“PNSC currently manages approximately 11 percent of the country’s cargo by volume and 4 percent by value,” the ministry said.
During the meeting, the minister proposed deepening collaboration between the PNSC, Karachi Shipyard & Engineering Works and local industries for the local manufacturing of modern cargo vessels, oil tankers and container carriers.
“This initiative is expected to create skilled employment, strengthen local supply chains, boost industrial activity and rejuvenate Pakistan’s shipbuilding sector, positioning the country as a regional maritime hub,” it said.
The cash-strapped country plans to finance its modernization efforts without burdening the treasury through leveraging public-private partnerships, maritime leasing models and tapping into global green shipping funds.
The government is trying to revive Pakistan’s debt-ridden economy with the help of the International Monetary Fund and has set a tax revenue target of Rs14.3 trillion ($50 billion) for the next financial year starting July.
Last week, the prime minister directed the authorities to lease new vessels to expand the PNSC’s fleet with an aim to reduce the $4 billion annual foreign exchange burden on sea-based trade.
Pakistan looks to bolster its maritime trade capacity and reduce reliance on foreign shipping lines, which officials say significantly contributes to the country’s widening trade deficit and puts pressure on foreign exchange reserves.
Source: Arab News
Hellenic Shipping News
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01 July 20253 min readPakistan Eyes $700 Million In Freight Earnings By Expanding Shipping Fleet — Maritime Ministry
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01 July 2025
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U.K Seizes 2.4 Tonnes Of Cocaine Worth $132 Million From A Ship Arriving From PanamaThe U.K.’s border authorities have confiscated cocaine worth $132 million from a ship that came from Panama.
The haul of 2.4 tonnes of the drug seized at the London Gateway Port close to the capital was one of the biggest of its kind, said Border Force Maritime director Charlie Eastaugh.
The drug was found under the containers on the ship and is said to be the 6th largest cocaine seizure.
Specialist officers had found the shipment earlier this month after they carried out an intelligence-led operation and moved 37 containers to get at the stash.
The U.K is one of the largest European markets for cocaine, per the National Crime Agency. The U.K Government says that the cocaine linked deaths in Wales and England increased by 31% between 2022 and 2023.
The United Nations Office on Drugs and Crime’s (UNODC) annual World Drug Report stated that cocaine was the world’s fastest-growing illegal drug market.
The production of the drug in Colombia has soared as the demand for it has increased rapidly in Europe and South America.
The number of cocaine users in the world has kept increasing, reaching 25 million people in 2023, up from 17 million a decade ago.
Minister for Migration and Citizenship Seema Malhotra said that drug gangs try to import illegal substances into the U.K and cause death, misery and addiction to the youth.
References: Al Jazeera, World Cargo News
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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01 July 20253 min readU.K Seizes 2.4 Tonnes Of Cocaine Worth $132 Million From A Ship Arriving From Panama
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01 July 2025
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Guinea Exports Record 48.6 Million Tons Of BauxiteJune 30, 2025
Guinea's exports of bauxite, a feedstock for aluminium, surged 39% to a record 48.6 million metric tons in the first quarter though regulatory crackdowns sidelined major operators, official data obtained by Reuters showed.
Most of this bauxite was shipped to China, where aluminium production has recovered. In the first five months of the year, China produced 18.59 million tons, a rise of 4.0% from the same period last year, data from its National Bureau of Statistics showed.
Guinea, the world's second-largest bauxite producer, shipped 312 vessels compared to 225 ships carrying 34.9 million tons in Q1, 2024, according to Guinea's Ministry of Mines and Geology.
Shipments from Guinea soared even as an export ban on Emirates Global Aluminium's local unit - which shipped 3.6 million tons in Q1, 2024 - remained in effect, while a regulatory cleanup curtailed exports from other key operators including China Hongqiao's subsidiary AGB2A/SDM.
Current weekly exports of 3.7 million tons point to an annualized rate of 199 million tons in 2025, up from 146 million tons last year, said Bernabe Sanchez, an independent mineral economist focused on Guinea.
This underscores the sector's resilience amid continuing strong Chinese demand from the military-ruled West African nation since 2016, said Sanchez.
Chinese-controlled companies dominated the Q1 export boom, with Société Minière de Boké (SMB) leading at 18.4 million tons, up 41% from 13.1 million tons in Q1 2024.
China’s state-owned Chalco increased shipments by 35% to 5.1 million tons from 3.8 million tons, while AGB2A/SDM exported eight million tons despite regulatory challenges.
The data further underscores China's tightening grip on Guinea's bauxite resources as Beijing ramps up aluminum production.
China imported 158.7 million tons of bauxite in 2024, with Guinea accounting for almost 70% of supplies.
Guinea, which supplies around half the world's bauxite, has expanded port infrastructure to handle surging bauxite demand.
(Reuters)
Maritime Logistics Professional
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30 June 20252 min readGuinea Exports Record 48.6 Million Tons Of Bauxite
Maritime Logistics Professional
30 June 2025
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Golar Lng Limited Announces Proposed Offering Of $500 Million Of Convertible Senior Notes Due 2030Golar LNG Limited announces today that it intends to offer, subject to market and other conditions, $500 million aggregate principal amount of Convertible Senior Notes due 2030 (the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also intends to grant the initial purchasers of the Notes a 30-day option to purchase up to an additional $75 million aggregate principal amount of the Notes in connection with the offering.
In connection with the offering of the Notes, certain of the Company’s directors and officers have provided an indication of interest to purchase the Company’s common shares from investors in the offering of the Notes, and certain entities controlled by or affiliated with the Company’s directors have provided an indication of interest to purchase Notes at the initial offering price.
The Notes will be senior, unsecured obligations of the Company, pay interest semiannually in arrears on June 15 and December 15, mature on December 15, 2030, and be convertible into the Company’s common shares, cash, or a combination of shares and cash, at the Company’s election.
The Company intends to use the net proceeds from the sale of the Notes (including any Notes sold pursuant to the initial purchasers’ option to purchase additional Notes, if exercised) to repurchase up to 2.5 million of the Company’s common shares in connection with the offering of the Notes and for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures.
IMPORTANT INFORMATION
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.
The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws.
This announcement contains information about a pending transaction and there can be no assurance that this transaction will be completed.
Source: Golar LNG
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27 June 20253 min readGolar Lng Limited Announces Proposed Offering Of $500 Million Of Convertible Senior Notes Due 2030
Bunker Port News Worldwide
27 June 2025
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Port Of Long Beach Approves $833 Million BudgetThe Long Beach Board of Harbor Commissioners has approved an $833 million budget for fiscal year 2026, nearly half of which will go toward infrastructure projects that reinforce the port’s leadership in sustainable, efficient cargo movement.
The budget will be submitted to the Long Beach City Council later this year for final approval.
Key highlights include a $405.4 million capital improvement allocation, representing 48.7% of total spending. Of this, $208.8 million is earmarked for the Pier B On-Dock Rail Support Facility, a transformative project aimed at shifting more cargo to rail, reducing truck traffic, and lowering emissions.
The Pier B project, which broke ground in July 2024, is scheduled for completion in 2032.
The budget also includes a $25.3 million transfer to the City’s Tidelands Operating Fund, which supports community and environmental enhancements along the city’s 7-mile coastline, such as shoreline safety, water quality, and public facilities.
Despite global trade uncertainties and a conservative 1.9% projected drop in operating revenue, the port is maintaining a strong financial position.
The 9.5% year-over-year increase in budgeted spending reflects the port’s continued commitment to modernization and sustainability, including support for the Zero Emissions, Energy Resilient Operations Policy, which advances the use of zero-emissions equipment and vehicles.
The Port of Long Beach plans to invest $3.2 billion in infrastructure improvements over the next decade, supporting both growth and environmental stewardship.
Additionally, the Board approved an increase in its scholarship fund, raising the annual allocation from $350,000 to $400,000, reinforcing its commitment to education and workforce development in the region.
Container News
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25 June 20252 min readPort Of Long Beach Approves $833 Million Budget
Container News
25 June 2025
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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 20253 min readCargo Throughput Going Through Three Gorges Dam Ship Lock Reaches 2.24 Billion Tons
Bunker Port News Worldwide
20 June 2025
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South Korean Shipyard Accuses Russia’S Zvezda Of Illegally Cancelling $3.54 Billion DealOne of the world’s largest shipbuilders, Samsung Heavy Industries has announced that it will take legal action against Russia’s largest shipyard, Zvezda, after the cancellation of two major shipbuilding equipment supply contracts worth a total of 4.85 trillion Korean won (around $3.54 billion).
The South Korean shipbuilder is also seeking damages through international arbitration.
According to Samsung, the contracts were unilaterally cancelled by Zvezda in June 2024. The Russian shipyard informed Samsung of the termination and requested the return of the advance payments made under the agreement.
In response, Samsung filed for arbitration in Singapore in July 2024, challenging the legality of Zvezda’s termination and aiming to confirm that the decision was not valid under the agreed terms.
The now-cancelled deals were signed in 2020 and 2021 and involved the supply of parts and steel hull blocks for 10 icebreaking liquefied natural gas (LNG) carriers and 7 icebreaking shuttle tankers. These specialised ships were meant to support Russia’s Arctic energy transportation routes.
However, complications began after Russia’s invasion of Ukraine in 2022. Following the war, the United States imposed sanctions on several Russian entities, including Zvezda. This significantly affected the execution of international contracts.
Samsung and Zvezda had reportedly been in discussions to resolve the issue as the geopolitical situation worsened.
Despite the talks, Samsung said Zvezda suddenly claimed that the Korean shipbuilder had defaulted on its contractual obligations and decided to cancel the agreement without mutual consent.
Samsung, on its part, rejected this claim and withheld about $800 million in advance payments, citing its right to protect company interests.
As the war continued and uncertainties around the contracts continued to grow, Samsung eventually decided to terminate the agreement from its end and proceed with a lawsuit and arbitration to claim damages.
The company said the decision was necessary due to rising concerns over the feasibility of carrying out the project and to defend its legal and financial interests.
The shipbuilder made the announcement in a regulatory filing on June 18, emphasising that Zvezda’s actions were an illegal breach of contract.
Reference: Reuters
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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20 June 20253 min readSouth Korean Shipyard Accuses Russia’S Zvezda Of Illegally Cancelling $3.54 Billion Deal
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20 June 2025
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Sc Ports Approves $300 Million Plan To Expand InfrastructureAccording to SC Ports, terminals remain fluid, with cranes averaging 33 moves per hour and trucks averaging 35-minute turn times.
Rail-served inland ports connect Charleston to regional markets throughout the Southeast.
To support future demand, SC Ports’ Board has approved a $294 million capital plan for FY 2026.
Projects include completing the Navy Base Intermodal Facility (now over 80 per cent complete), expanding Leatherman Terminal, and upgrading Columbus Street Terminal for RoRo cargo.
READ: SC Ports expands Port of Charleston’s coverage
In May, the port authority handled 219,255 TEUs and 120,796 pier containers — up 22 per cent and 21 per cent from the previous year.
Loaded imports rose 19 per cent, and exports were up 10 per cent.
Inland Port Greer hit a monthly record with 16,952 rail moves, while Dillon moved 3,856 rail containers. Vehicle volumes held steady at 13,062 units.
SC Ports President and CEO, Barbara Melvin, said: “These strategic investments enable us to handle current cargo volumes, and the cargo that will flow from future investments and population growth in the Southeast.”
In March, the SC Ports team and the maritime community handled 240,857 TEUs and 131,513 pier containers, an 11 per cent increase over March 2024.
Port Technology International
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20 June 20252 min readSc Ports Approves $300 Million Plan To Expand Infrastructure
Port Technology International
20 June 2025
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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.
Port Technology International
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19 June 20252 min readPort Houston Secures $214 Million For Channel Upgrades
Port Technology International
19 June 2025
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Report: China’S Cosco In Talks To Join $19B Ck Hutchison Port Sale Amid U.S.-China TensionsAn aerial view shows the Balboa Port, operated by Panama Ports Company, as U.S. President Donald Trump plans to regain control of the Canal, in Panama City, Panama, February 1, 2025. REUTERS/Enea Lebrun
(Bloomberg) — China’s largest shipping company is among the firms in talks to invest in a multinational consortium seeking to buy billionaire Li Ka-shing’s global ports, according to people familiar with the matter, in an effort to ease Beijing’s concerns over the controversial deal.
China Cosco Shipping Corp. is one of several Chinese state-backed companies in discussions with the consortium led by Italian billionaire Gianluigi Aponte’s Terminal Investment Ltd. on matters including how they might participate in the port deal, the people said, asking not to be identified discussing private information. The buying group also includes US firm BlackRock Inc. and its Global Infrastructure Partners unit.
The inclusion of Chinese investors in the consortium emerged as one of the options to advance the ports sale after high-stakes talks in Switzerland last month between Chinese and US officials, some of the people said. Beijing has fiercely opposed the sale — including two ports along the Panama Canal — over concerns it could affect its global shipping and trade ambitions. Meanwhile, President Donald Trump celebrated the deal as returning the strategic waterway to American influence.
Once completed, the agreement to sell the two Panama ports and 41 others around the world is expected to net tycoon Li’s CK Hutchison Holdings Ltd. more than $19 billion in cash.
Talks are ongoing and the details are not yet finalized, the people said. Cosco, CK Hutchison and the Aponte family’s MSC Mediterranean Shipping Co., which controls Terminal Investment, didn’t respond to requests for comment. BlackRock declined to comment.
Cosco shares in Hong Kong extended gains to as much as 6% Friday morning, while CK Hutchison erased losses and rose 1.9%.
The talks are the latest twist in one of billionaire Li’s most geopolitically challenging deals amid escalating tensions between the world’s two largest economies over global trade. The development has raised hopes that it could ease China’s concerns over the proposed transaction, which has been blasted by pro-Beijing newspapers as a betrayal of the nation and kowtowing to US pressure. The country’s market watchdog has vowed to review the sale, and Bloomberg News reported in March that authorities told state-owned firms to hold off on any new collaboration with businesses linked to Li and his family.
Despite the progress of the talks, a deal could still falter. A 145-day period for exclusive talks between CK Hutchison and the consortium ends in late July and the parties have already missed an initial goal of signing an agreement on the Panama part of the deal by early April.
The current structure of the buyer consortium will give Terminal Investment ownership of all the ports except the two in Panama, whose control will go to BlackRock, Bloomberg reported in April. Terminal Investment parent MSC has 28 offices across Greater China. It runs a terminal in China’s eastern city Ningbo and operates dozens of shipping services between the country and the rest of the world.
In an interview with the Financial Times earlier this week, the head of the Panama Canal Authority said the consortium’s structure means a concentrated terminal ownership which could threaten the waterway’s competitiveness and neutrality. In response, China’s Ministry of Foreign Affairs said it supports Panama in defending its independence and reiterated its opposition to economic bullying.
It’s unlikely that MSC will be allowed to take over all of CK Hutchison’s 43 ports due to concerns over market concentration from relevant competition authorities, said Eirik Hooper, a senior associate at maritime research consultancy Drewry.
Still, any potential changes won’t affect the dominance for MSC, which will become the world’s largest terminal operator by throughput once the deal is completed, Hooper added.
© 2025 Bloomberg L.P.
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18 June 20254 min readReport: China’S Cosco In Talks To Join $19B Ck Hutchison Port Sale Amid U.S.-China Tensions
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18 June 2025
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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.”
Maritime Standard
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16 June 20252 min readPort Of Duqm Secures Us$550 Million Investment Boost
Maritime Standard
16 June 2025
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