Finance

  • Massport invests $850M enhancing Boston container...

    Three new low profile Neo-Panamax cranes have begun their journey to Boston from Shanghai, China as the latest step in the Massachusetts Port Authority (Massport) efforts to expand operations and improve capabilities to handle larger ships in the port of Boston. They have invested more than $850 million into efforts around the port, which includes these cranes along with a new berth and a deepened Boston Harbor, to give the port the capability to handle larger vessels and facilitate future growth.

     

  • Aramco signs $12.4 billion infrastructure...

    Aramco has signed a deal with a consortium led by EIG Global Energy Partners (“EIG”), one of the world’s leading energy infrastructure investors, to optimize its assets through a lease-and-lease-back agreement involving its stabilized crude oil pipeline network. 

     

  • MSC spends $100 Million on security upgrades...

    Number-two ocean carrier MSC says that it has begun spending tens of millions of dollars every year on extra security enhancements in the wake of the multi-billion-dollar cocaine bust aboard the boxship MSC Gayane. American prosecutors assert that crewmembers aboard the Gayane brought 15.5 tonnes of cocaine on board, then transported it to the United States. U.S. Customs and Border Protection intercepted the shipment at the Port of Philadelphia in June 2019, and it estimated the narcotics' total value at $1.1-1.3 billion, making it the largest single drug bust in the agency's history. The interdiction resulted in a temporary seizure of the ship and MSC's (brief) suspension from the U.S. Customs Trade Partnership Against Terrorism, or CTPAT.

     

  • CSSC books $1.5B largest boxship order,...

    The Chinese state-owned shipbuilder China State Shipbuilding Corporation is reporting the receipt of the largest single containership order undertaken by CSSC. According to CSSC, the order valued at more than $1.5 billion is significant after the company completed a restructuring designed to better position it to compete in the shipbuilding market.

     

  • Adani Ports acquire 25% of Vishwasamudra's...

    Private sector ports and logistics company Adani Ports and Special Economic Zone Ltd. (APSEZ) is acquiring the residual 25 per cent stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs 2,800 crore.

     

  • Pacific International Lines completes $600M...

    The financial rescue of Singapore-based Pacific International Lines (PIL) has been completed with new investments and the cancelation of portions of the company’s outstanding debt. The line, which is the largest carrier in Southeast Asia, had been struggling financially and was forced to seek a court-managed reorganization due to the pressures of the pandemic.

     

Pages

Massport invests $850M enhancing Boston container port capabilites

Three new low profile Neo-Panamax cranes have begun their journey to Boston from Shanghai, China as the latest step in the Massachusetts Port Authority (Massport) efforts to expand operations and improve capabilities to handle larger ships in the port of Boston. They have invested more than $850 million into efforts around the port, which includes these cranes along with a new berth and a deepened Boston Harbor, to give the port the capability to handle larger vessels and facilitate future growth.

 
English

MSC spends $100 Million on security upgrades after cocaine mega-bust

Number-two ocean carrier MSC says that it has begun spending tens of millions of dollars every year on extra security enhancements in the wake of the multi-billion-dollar cocaine bust aboard the boxship MSC Gayane. American prosecutors assert that crewmembers aboard the Gayane brought 15.5 tonnes of cocaine on board, then transported it to the United States. U.S. Customs and Border Protection intercepted the shipment at the Port of Philadelphia in June 2019, and it estimated the narcotics' total value at $1.1-1.3 billion, making it the largest single drug bust in the agency's history. The interdiction resulted in a temporary seizure of the ship and MSC's (brief) suspension from the U.S. Customs Trade Partnership Against Terrorism, or CTPAT.

 
English

CSSC books $1.5B largest boxship order, reportedly linked to MSC

The Chinese state-owned shipbuilder China State Shipbuilding Corporation is reporting the receipt of the largest single containership order undertaken by CSSC. According to CSSC, the order valued at more than $1.5 billion is significant after the company completed a restructuring designed to better position it to compete in the shipbuilding market.

 
English

Pages

Top