• 2018 September 20 11:30

    Gulftainer signs 50-year, $600 million concession to operate and expand Port of Wilmington in Delaware, USA

    Gulftainer, the world’s largest privately-owned independent port operator and logistics company based in the UAE, finalised a 50-year concession with the State of Delaware in the USA to operate and develop the Port of Wilmington, significantly expanding the company’s global footprint and reach. The agreement, signed by Gulftainer’s subsidiary GT USA, will see an expected investment of up to $600 million in the port to upgrade and expand the terminal and to turn it into one of the largest facilities of its kind on the Eastern Seaboard, the company said in its press release.

    The port deal represents the largest operation ever run by a UAE company in the United States, as well as the largest investment ever by a private UAE company in the country.

    At a public signing ceremony held in Wilmington, Governor John Carney of Delaware signed the agreement with Badr Jafar, Chairman of the Executive Board of Gulftainer, in the presence of Delaware Secretary of State Jeffrey Bullock and other state officials, as well as H.E. Yousef Al Otaiba, the UAE Ambassador to the US and other dignitaries.

    The 50-year concession follows a year of negotiations and a thorough evaluation of Gulftainer’s capabilities globally, including in the USA, where it currently operates the Canaveral Cargo Terminal in Port Canaveral, Florida and provides services to the U.S. Armed Forces as well as the US Space Industry. The Delaware concession agreement completes a preliminary agreement between Gulftainer and the State of Delaware, as well as the completion of a formal review by the Committee on Foreign Investment in the United States (CFIUS), granting Gulftainer exclusive rights to manage the Port.

    Gulftainer plans to invest up to US$600 million in the port, including $400 million on a new 1.2 million TEU (twenty-foot equivalent units) container facility at DuPont’s former Edgemoor site, which was acquired by the Diamond State Port Corporation in 2016.

    Plans for the Port also include development of all cargo terminal capabilities at the facility and enhancement of its overall productivity. Gulftainer will also establish a training facility at the development site specifically for the Ports and Logistics industries that is expected to train and upskill up to 1,000 people per year.

    The Port of Wilmington opened in 1923, and is a fully serviced deep-water port and marine terminal strategically located on 308 acres at the confluence of the Delaware and Christina Rivers. It is the top North American port for fresh fruit imports into the USA and has the largest dockside cold storage facility in the Country.

    The relationship between the US and UAE has long been underpinned by a shared commitment to promote strong trade and investment ties. In recent years total bilateral trade between the UAE and US has grown from approximately $5 billion in 2004 to over $24 billion in 2017. The US had a $15.7 billion trade surplus with the UAE, its third largest trade surplus globally.




2018 October 21

08:54 20,000 TEU COSCO SHIPPING Sagittarius named in Shanghai
08:50 CFO Paul Smits leaves the Port of Rotterdam Authority
07:52 COSCO SHIPPING starts shipment of Toyota exhibits

2018 October 20

08:47 Boskalis, Van Hattum en Blankevoort and Mobilis construct deep-sea quay for the new HES Hartel Tank Terminal at Maasvlakte
08:10 Navios Partners announce filing of F - 1 for direct listing of Navios Containers
08:06 Maersk Line increases FAK rates for Northern Europe to Middle East and ISC trade
08:04 U.S. Navy contracts Austal to order materials for EPF 13
07:44 EU Commission launches the European Network of U-space Demonstrators

2018 October 19

18:42 ABN AMRO, Samsung SDS and the Port of Rotterdam Authority launch container logistics blockchain pilot
18:07 Stena Line's battery hybrid vessel completes its first month of operation
17:56 ABN AMRO, Samsung SDS and Port of Rotterdam Authority launch container logistics blockchain pilot
17:35 Port of Gdansk participated in the CILF 2018 fair in China
17:11 Gdansk pays a visit to Singapore
16:57 Testbed established for Internet of Ships Open Platform
16:48 Finland’s Water Transport Act aims to improve safety and increases preparedness for the future
16:26 World’s largest LNG bunker supply vessel “Kairos” started its voyage to Europe
16:04 KN will motivate its employees with the company's shares
15:42 New Falck training centre on the Maasvlakte officially openes
15:20 Seimas members visiting Klaipėda discussed benefits provided by LNG terminal
14:59 Ukraine plans dredging of 16.33 million cbm of material in 2019
14:37 UN agencies delivering on maritime security
14:15 Hapag-Lloyd starts new Red Sea service
14:00 Atomflot: shipments from Arctic LNG and Yamal LNG to be assisted by diesel and gas powered icebreakers
13:31 MOL's newbuilt LNG carrier "MARVEL EAGLE" to transport LNG from Cameron project in U.S.
13:11 NIBULON Shipbuilding and Repair Yard launches POSS-115 Project tug
13:05 BigLift Barentsz sails Northern Sea route for Pioneering Spirit
12:48 Glavgosexpertiza approves reconstruction of KSK grain terminal to increase its capacity to 4 million tonnes
12:22 Q&A with ImageSat International released ahead of SMi’s 4th annual Maritime Reconnaissance and Surveillance Technology conference
12:05 FESCO wins tender for supplying Indian Research Stations in Antarctica in 2019
11:43 Competition for designing and construction of LNG-powered icebreaker to be announced in late 2018 - early 2019
11:20 North Sea Giant turns to The Switch EBL technology
10:54 NOVATEK to place four FLNG facilities on the Northern Sea Route
10:31 RF Navy’s major amphibious ship Ivan Gren enters North Sea
10:07 Port of Vancouver closes 2018 cruise season
09:56 Brent Crude futures price up 0.4% to $79.61, Light Sweet Crude – up 0.35% to $68.89
09:38 Tackling maritime emissions - IMO rolls out ship and port toolkits
09:29 Expert forecasts more favorable ice situation on Northern Sea Route for 30 years ahead
09:15 Baltic Dry Index is up to 1,565 points
09:07 Hapag-Lloyd, CMA-CGM and COSCO enhance GEM service - covering Mediterranean with the Middle East / ISC
08:37 Samskip launches Netherlands-Italy multimodal rail service
08:07 SEA\LNG submits open comment on the draft supplemental environmental impact statement for Puget Sound LNG facility
07:20 Van Oord awarded offshore contract for the West White Rose Project

2018 October 18

18:03 VSDV opens new crossdock location in the port of Amsterdam
17:33 The first vessel in Klaveness Combination Carriers next generation of combination carriers named at New Yangzi Shipyard in China
17:17 Cargo transportation via Northern Sea Route can reach 17 million tonnes in 2018
17:03 Savannah container trade up 12 percent in September 2018
16:55 PGRK: sales strategy of Pavlovskoye deposit project is focused on foreign markets
16:33 SITC Logistics Group signs strategic cooperation agreement with Chengdu Port Investment Group and Guangzhou Port Logistics Group
16:03 NYK and Horiba to develop a new sulfur-in-oil analyzer for ships
15:34 Thames freight volume rises by 40% as Thames Vision strategy starts to bear fruit
15:33 Port of Rotterdam Authority and research institute TNO present results of the study at IMO meeting
15:31 Dublin Port volumes grow by 4.7% in first nine months. By year end, 36% growth in just six years
15:03 Chinese Lingang group invests 85 million euros in Zeebrugge inner port
14:47 Practical aspects of LNG bunkering to be discussed at the dedicated conference in Moscow on October 24
14:33 Nouryon, Tata Steel, and Port of Amsterdam partner to develop the largest green hydrogen cluster in Europe
14:24 Bunker prices may change irregular next week amid rising volatility on global fuel market, expert says
14:11 Tallink and Rauma marine constructions sign letter of intent for the construction of new shuttle ferry
14:02 VesselMan and DNV GL team up to offer optimized solution for dry-docking management
13:30 Project Forward paves the way for meeting IMO’s reduction on CO2 emissions
13:14 Equinor’s share saving plan allocates shares