• 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 17

11:27 Norddeutsche Reederei H. Schuldt joins V.Group
10:50 Brent Crude futures price down 0.09% to $81.34, Light Sweet Crude – up 0.06% to $71.88
10:42 CMA CGM to introduce new BAF on Europe-Africa trade
10:37 Damen Shipyards Galati hands over 74-metre fishery research vessel to Angolan government
10:27 Maritime Arctic Competence Center opens in Saint-Petersburg
09:42 KN invests in environmental protection measures
09:20 Baltic Dry Index is down to 1,578 points

2018 October 16

18:33 Maersk Line announces new FAK rates from Mediterranean to West and Central Asia
18:03 ABS holds two seminars at the 58th Genoa International Boat Show
17:55 Throughput of port Kaliningrad in 9M’18 grew by 5% Y-o-Y to 10.65 million tonnes
17:36 Wärtsilä opens the first International Maritime Cyber Centre of Excellence in the world
17:03 CMA CGM announces Overweight Surcharge on Asia and India to Africa trades
16:56 Wärtsilä launches Acceleration Centre in Singapore and partners with MPA and PSA Marine to develop IntelliTug
16:40 Throughput of port Vyborg in 9M’18 up 22% Y-o-Y to 1.33 million tonnes
16:21 Throughput of port Primorsk in 9M’18 fell by 11% Y-o-Y to 39.80 million tonnes
16:03 Höegh LNG announces amendment of the Höegh Gallant time charter
15:44 LUKOIL starts construction of facilities at Rakushechnoye field
15:22 Throughput of port Vysotsk in 9M’18 climbed by 6% Y-o-Y to 13.69 million tonnes
15:03 Avatar Logistics initiates cooperation with Sand & Grus AB Jehander and buys the vessel MS Jehander
14:41 Throughput of port Ust-Luga in 9M’18 declined by 5% Y-o-Y to 72.38 million tonnes
14:20 CMA CGM announces GRR from Far East to West Africa
14:03 Lithuanian Railways, Metrans and the Port of Hamburg strengthen relations
13:52 Throughput of Port St. Petersburg up 12% to 44.22 million tonnes in 9M’18
13:06 Scorpio Bulkers announces update on scrubbers
12:39 Project 22800 small missile ship Burya to be floated out on 23 October
12:13 Rolls-Royce and Intel announce autonomous ship collaboration
11:55 The Port of Riga outlines a vision for future development of Spilve Meadows
11:31 Ørsted selects GeoSea for Borssele 1 & 2 foundation and turbine transport and installation
11:14 Jan De Nul will dredge access channel to Guayaquil Port
11:11 RF Navy’s Baltic Fleet detachment completed tasks in Mediterranean Sea
10:59 Damen Maaskant Shipyards Stellendam celebrates 70 years and bids farewell to director Frits van Dongen
10:50 Detachment of RF Navy's Pacific Fleet completes visit to Republic of Korea
10:28 WMU holds needs assessment workshop in Jordan
10:02 Brent Crude futures price up 0.31% to $81.03, Light Sweet Crude – up 0.11% to $71.86
09:43 IMO ​pushing forward with tackling greenhouse gas emissions
09:17 Baltic Dry Index is up to 1,584 points

2018 October 15

18:23 MOL joins hands with partners to launch FOCUS project
17:59 Moscow to host a conference on construction of LNG-powered and LNG bunker ships on October 24
17:46 Algoma announces cancellation of Croatian newbuilds contracts
17:05 Klaveness Combination Carriers AS registered on NOTC
16:56 Tall ships arrive at Port of Ipswich as part of 'Race of the Classics'
16:37 Coast Guard ends search after plane crash victims bodies are located
16:20 Krasnoye Sormovo shipyard delivers 8,140 DWT Pola Fiva, fifth dry cargo carrier of Project RSD59
16:04 DNV GL leads consortium to update Carbon Trust Floating LiDAR Roadmap
15:34 East Mediterranean projects take steps towards adoption of alternative fuels
15:04 NYK approves Japan Climate Action Summit declaration
14:51 Wärtsilä LNG solutions featured on environmentally advanced cruise ship
14:35 Coast Guard sets port condition X-ray in Georgia, South Carolina
14:17 Andrey Shunin appointed as General Director of Caspian Energy Management
13:28 Cooperation for sustainable shipping in the Mediterranean
12:41 ACL christens its newest G4 vessel, the Atlantic Sun
12:13 Kongsberg Digital and KPMG launch new complete cybersecurity partnership for the maritime industry
11:55 Nevsky Shipyard took part in Offshore Marintec Russia
11:19 ABS leads industry discussion on digitization, safety and compliance
11:12 New shipping route links Gdansk and Scandinavia
10:51 Port of Gdansk considered as transport hub for Slovakia
10:29 Brent Crude futures price up 1.21% to $81.4, Light Sweet Crude – up 1.04% to $72.08
10:10 Tuco Marine Group to build a multipurpose first responder boat for Hovedstadens Beredskab I/S
09:53 Baltic Dry Index is up to 1,579 points
09:34 Gazprom and Shell discuss next steps in Baltic LNG project