• 2019 December 6 11:30

    Canada Infrastructure Bank invests $300 million in Port of Montreal’s expansion project in Contrecoeur

    Canada Infrastructure Bank announced it is committing up to $300 million in financing to the Port of Montreal’s project to build a new container terminal in Contrecoeur.

    The Canada Infrastructure Bank’s (CIB) financing demonstrates significant support for the expansion of the largest port in Eastern Canada, which must expand its activities to fully participate in national economic growth. This project will enable the port to meet the needs of the market in the coming decades.

    This announcement follows the signing of a memorandum of understanding between the CIB and the Port of Montreal last August. The two organizations collaborated to develop the Contrecoeur project, particularly in terms of financial structure. “Given CIB’s mandate is to attract private investment in projects of public interest, this support validates the national importance of our project and the strength of its structure,” added Ms. Vachon.

    The CIB’s financial commitment is a major step forward in the development of the Contrecoeur project. It enables the Port of Montreal to continue working, in collaboration with the private sector, to complete the financial structuring of the project by promoting the fact that the project benefits from a solid financial commitment of 300 million dollars from the CIB.

    CIB’s financial commitment is a provision of long-term capital to bridge the gap between periods of construction, revenue growth and achieving profitability of the container terminal.

    The financing of the CIB is a recognition of the transformative nature of the Contrecoeur terminal project. This commitment also illustrates the interest of market players in the project and its potential to attract private investors.

    CIB is a Crown corporation whose mandate is to invest $35 billion in new revenue‑generating infrastructure projects that are in the public interest and seek to attract investment from the private sector and institutional investors to those projects.

    The CIB’s priority sectors for investment are transportation and trade, public transit, green infrastructure and broadband internet.

    CIB works with provinces, territories, municipalities, aboriginal peoples and private partners.

    The Port of Montreal is the largest port in Eastern Canada and the only container port in Quebec.  In 2018, the Port of Montreal handled more than 1.7 million TEU containers (Twenty Feet Equivalent).  The Port of Montreal provides the shortest direct route from Europe and the Mediterranean to North America.




2020 August 7

12:49 Rosmorport plans expansion of its fleet by 24 newbuilds
12:08 Jan De Nul signs contract with Dogger Bank Wind Farm
11:22 The second tanker manufactured in Azerbaijan launched for the next stage of construction
10:37 MSC’s Golden Horn service links China, Korea & Russia’s east coast
09:59 Ecochlor receives IMO BWMS Code Type Approval
09:51 MABUX: Bunker market this morning, Aug 07
09:16 Baltic Dry Index as of Aug 6
09:12 Crude futures prices turn down again

2020 August 6

19:00 FSL Trust agrees to sell three containerships
18:27 Sumitomo Heavy Industries has been granted an “Approval in Principle” for a medium-size high-pressure LNG dual-fueled tanker
18:21 Port of Rostov-on-Don seven-month volume rises 4% to 12.7 million tonnes
18:07 ICTSI 1H2020 net income down 12% to US$113.4mln
17:26 Royal IHC awarded major contract for supply of FPSO equipment for Yinson
17:25 Vodohod’s newbuild Mustai Karim arrives at Saint Petersburg
16:36 Nevsky Shipyard launches the Pavel Leonov, last ship of PV22 series duo
16:15 North Sea Port, Flemish Waterways plc, Port of Antwerp, Port of Oostende, Port of Zeebrugge, the Agency for Maritime and Coastal Services, and the Joint Nautical Management to introduce SWINg in 2021
15:43 Zelenodolsk Shipyard to host tomorrow launching and keel-laying ceremonies
15:41 Maritime Autonomous Surface Ships Port Network was established in Singapore
14:27 MABUX Bunker Weekly Review
13:54 Tolyattii bound heavylift project cargo successfully handled at Port Bronka
13:27 Alaska Marine Lines rail barges upgrade ballast systems
12:46 Davie confirms polar leadership with icebreaker launch
12:35 Transit container transport by RZD network soars 30% in Jan-Jul
11:40 CMA CGM to launch its ever-faster service connecting Spain with Algeria
11:35 Carnival Cruise Line joins industrywide pause in U.S. through October 31
10:18 Shell signs charter contracts for six newbuild LNG carriers
10:15 Fourth IMO Greenhouse Gas Study: Shipping emissions are projected to increase by up to 50% until 2050, relative to 2018
09:58 The Flemish government, Port of Antwerp and SeReAnt together improve the water quality at the Port of Antwerp
09:26 Baltic Dry Index as of Aug 5
09:21 Crude futures prices resume climb
09:10 MABUX: Bunker market this morning, Aug 06
08:11 NYK starts operation of its first finished-car logistics terminal in Japan

2020 August 5

18:57 Valenciaport triples air quality control cabins
18:16 U.S. Coast Guard suspends search for missing spearfisher off Maui
18:04 Port of Helsinki turnover decreased by 26.7% to EUR 33.4 million in January–June 2020
17:35 A delegation of the Port of Gdansk visits Klaipeda
17:06 Voluntary ship slowdown through Swiftsure Bank begins August 1
16:49 Mississippi River will get deeper
16:39 MOL introduces FOCUS Project Part Ⅲ: Virtual Ship Visit Application 'Fleet Tour'
16:29 Admiralty Shipyards starts building fourth CT-192 series trawler the Kapitan Martynov
15:27 Solstad secures contract from BP for three vessels in Australia
14:38 ABS to class first Taiwan-built offshore installation vessel
13:22 Hurtigruten temporarily suspends all expedition cruises
13:18 Krasnoye Sormovo to launch the MS Pola Marina cargo ship on August 7
13:12 The Vostochnaya Stevedoring Company completes the upgrade of more than 18,000m2 of storage yard
13:08 Concept of a modular composite fishing boat gets the thumbs up from MARINET
12:39 Scorpio Bulkers to build Wind Turbine Installation Vessel (WTIV) at DEME
12:01 Fincantieri and Saipem sign deep-seabed mining agreement
11:58 MARINET expects draft amendments on autonomous shipping to Russia’s MSC to be submitted by the end of the month
11:13 Future 12th expeditionary fast transport (EPF 12) for US Navy successfully completes acceptance trials
11:06 SEA-KIT bags two USV orders from Fugro
10:51 Indian Register of Shipping launches vessel for Unichart Navigation
10:23 Baltic Dry Index as of Aug 4
10:18 Crude futures prices remain nearly flat
09:51 MABUX: Bunker market this morning, Aug 05
09:07 EMSA, ECDC release guidance on resuming safe cruise operations in EU

2020 August 4

18:36 UK publishes Guidance on financial sanctions for Maritime Industry
18:21 Avance Gas sells 2003-built VLGC Avance
17:45 Klaveness Combination Carriers takes delivery of the fourth CLEANBU vessel
17:03 Tallink Grupp publishes July 2020 passenger and cargo statistics