• 2017 November 21 17:37

    Sokhna World Zone project presented to investors in Dubai

    Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and Chairman of the Suez Canal Economic Zone (SCZone), today presented details of the recent agreement to develop an integrated industrial and residential zone at Sokhna in Egypt to investors and businesses in Dubai, DP World said in a media release.

    The opportunities to invest and launch operations in the project were outlined to company representatives, many of whom already have existing outlets in Dubai’s Jebel Ali Freezone (Jafza).

    Sokhna World Zone will create a sustainable industrial area to attract foreign investment and will feature a range of investment incentives and encourage innovation using best international practice in the management of Special Economic Zones (SEZs), free zones, ports, and logistic hubs based on DP World’s global experience.

    The project will also promote the development of Small and Medium-sized Enterprises (SMEs), create job opportunities and provide training for young Egyptians adding value to the economy and is due to start in the first quarter of 2018. A joint venture will be created between SCZone (51%) and DP World (49%) with DP World managing the zone.

    Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “Sokhna World Zone will be a major opportunity for businesses here in Dubai and elsewhere to launch regional operations or expand their presence. The partnership with the Suez Canal Economic Zone Authority and the Egyptian government reflects the strong relationships both our countries enjoy and it will become a foundation of the Egyptian economy for decades to come. It will transform the Suez Canal and establish a trade and business hub, changing the lives of thousands and those of future generations.

    “Our success in creating Jafza which now has over 7300 companies on site and its close proximity to Jebel Ali Port is a model we are applying in other locations around the world. This project will be 1.5 times bigger than Jafza and enable access to the Egyptian market and the region as well as complement what we have achieved here in diversifying the Dubai and UAE economy.”

    Admiral Mohab Mamish, Chairman of the Suez Canal Authority and Chairman of the Suez Canal Economic Zone (SCZone), said: “The support of His Excellency Abdel Fattah elSisi, President of Egypt, and the role of the Egyptian government in removing barriers to investment and having the foresight and vision to create this project is a shining example of the commitment to grow Egypt’s economy in a sustainable manner for the long term, creating jobs and communities for families over the course of this century.

    “We are delighted to partner with Dubai and DP World in launching the project building on our joint expertise and experience. I truly believe investors and companies who commit to the Sokhna Economic Zone will reap the benefits for years to come by planting seeds now for the long term. Its location, proximity to a major artery of global trade and the size of the markets in the region all point to great opportunity for business. We look forward to developing the masterplan and communicating further details of this game changing project over the next few months.”

    The Sokhna World Zone will cover 95 square kilometres with an estimated 400,000 jobs and include industrial and residential areas coupled with the development of DP World’s operations at Sokhna Port, increasing its capacity and linking it to the industrial zone.

    Business sectors include light and medium-sized industries, logistics, and service utilities.

    Targeted industries include medical, electronics and communications, construction materials, logistics, textiles, automotive parts, food processing, energy production components and petrochemicals.

    A residential zone spanning 20 square kilometres will include coastal villas, residential units, shopping and administrative centres, entertainment facilities, mosques, schools, hospitals, clubs and green spaces. The residential area will be able to accommodate 500,000 people.

2018 March 20

10:40 Experts say Wärtsilä – Transas transaction is a step towards Wartsila localization in Russia
10:14 Brent Crude futures price up 0.3% to $66.25, Light Sweet Crude – up 0.34% to $62.34
09:37 Rosneft produced 225.5 mmtoe of liquid hydrocarbons in 2017, up 7.3% YoY
09:15 Baltic Dry Index down to 1,136 points

2018 March 19

18:06 CMA CGM announces GRR from Asia to East Africa
18:00 NIBULON awarded first advanced training certificates of state standard to shipbuilders
17:39 Vladivostok Sea Fishing Port handled 618,500 tonnes of fish in 2M’18, up 19.8% Y-o-Y
17:22 Gross revenue of Sovcomflot in 2017 grew by 3.4% to $1.43 billion
16:58 VSC terminal launches train services to Ramenskoye Station
16:41 Wagenborg carries out inspections in Russian Far East
16:30 ClassNK releases Guidelines for Direct Load Analysis and Strength Assessment of hull structure
16:06 Port of Rotterdam Authority: solid financial results in 2017 create new scope for ambitious investment programme
15:49 Maersk Line relaunches Asia-Europe Network to increase schedule reliability
15:43 Port of Rotterdam could increase its market share in certain regions in South-West Germany by up to 23%
15:17 North Rhine-Westphalia and Port of Rotterdam make start on port agreement
14:54 Exercise on maritime security held in Nigeria on 14-16 March
14:29 Rosneft posts growth of its net income in 2017, by 40.7% to USD 3.8 billion
13:55 Average wholesale prices for М-100 HFO down to RUB 11,944 in RF spot market
13:32 Workshop on how to design and conduct drills and maritime security exercises held in Jamaica
13:10 DP World and NIIF joint venture Hindustan Infralog to acquire 90% of Continental Warehousing Corporation in India
12:48 52 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 18-19
12:21 Wärtsilä acquires Transas to accelerate its Smart Marine Ecosystem vision
12:05 ULSTEIN holds steel cutting for SunStone's X-BOW expedition cruise vessel
11:49 Aker Arctic and ICEYE to provide satellite ice information
11:30 13th Arctic Passion Seminar held in Helsinki
11:08 Bibby Offshore announces merger with Rever Offshore
10:45 Container throughput of port Hong Kong (China) up 2.2% to 3.22 million TEUs in Jan-Feb’18
10:23 Brent Crude futures price down 0.48% to $65.89, Light Sweet Crude – down 0.46% to $62.12
10:08 MSC launches new freight rail service between Seville, Spain, and the Atlantic
09:42 Singapore will host 17th Vessel Efficiency and Fuel Management Summit on 29-30 August 2018
09:17 Baltic Dry Index down to 1,143 points
09:08 Ulstein celebrates keel laying of Lindblad’s first polar new build
08:04 DP World acquires fully integrated logistics services provider in Peru

2018 March 17

06:48 Seatrade convicted for trafficking toxic ships

2018 March 16

18:06 Rijkswaterstaat awards Afsluitdijk project to Levvel consortium
17:36 HHLA Container Terminal Burchardkai handles new record ship
17:05 ICS publishes latest Flag State Performance Table
16:51 Vladimir Putin inspected the completed new road section of the Crimean Bridge
16:35 Wison successfully delivers the global largest single cracking furnace module
16:20 GTT announces the end of the test phase of its new LNG brick® technology
16:05 Fincantieri starts building of ultra-luxury cruise ship for Regent Seven Seas Cruises
15:30 Caterpillar Marine announces first European IMO Tier III tugboat
15:03 Throughput of port Kavkaz up 67% to 4.3 million tonnes in 2M’18
14:39 Port of Hamburg proves effectiveness in handling mega-carriers
14:05 Training for port facility security staff arranged in the Dominican Republic
13:42 Multipurpose Reloading Complex takes lead in the industry
13:20 Karachi Shipyards & Engineering Works delivers two Damen Stan Patrol 1605 FRP patrol boats to Pakistan Customs
13:17 Bunker prices continue going down at the port of Novorossiysk, Russia (graph)
12:51 52 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 15-16
12:28 Seaports of Russia’s Azov Sea Basin handled 16.77 million tonnes of cargo in winter 2017-2018, up 63.8% Y-o-Y
12:04 Latin America maritime cooperation centre launched
11:40 Vympel Shipyard laid down second armament support ship of Project 20360М for RF Defence Ministry (photo)
11:15 Vostochny Port JSC develops railway infrastructure under its Phase 3 project (photo)
10:52 IMO joined leading oil spill experts to discuss future issues concerning oil spill preparedness, response and restoration
10:27 Brent Crude futures price down 0.11% to $65.05, Light Sweet Crude – down 0.05% to $61.16
10:09 Panama Canal signs agreement with Association of Soybean and Corn Producers of Mato Grosso
09:48 IMO is looking at safety aspects of on shore power supply to ships
09:34 Bunker prices are flat at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index down to 1,150 points
09:03 Damen unveils Multi Cat Water Injection Dredger