• 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 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges
15:03 ABS and TCOMS join forces to research next generation marine & offshore and maritime solutions
14:44 Floating nuclear power plant covers over 50% of electric energy demand in Chukotka
14:20 The average value of the Ningbo Container Freight index 1 in October increases by 1.2%
14:20 MPA-SSG-WSG joint media release: 1000 traineeships, company attachments and training opportunities for more Singaporeans to join maritime sector
14:03 Global Ports Holding signs sale and purchase agreement for Port Akdeniz
13:57 Port of HaminaKotka specifies minimum requirements for berthing and unberthing services
13:25 Rosmorport's Murmansk Branch performed pilotage of Sedov barque
13:01 Container throughput of Chinese ports still decease slightly in January - September 2020
12:52 Zhigalovo Shipyard lays down fifth ship of Project 3052 for Rechvodput
12:26 MPA-ABS MoU to advance R&D activities in maritime Singapore
12:13 Multi-million-euro project transforms CO2 into green raw material in North Sea Port
11:56 Private investments in infrastructure of Arkhangelsk port totaled RUB 25 billion in 7 years
11:18 Port of Long Beach posts results for in September 2020
11:11 Russian President Vladimir Putin signs order on merging Sevmorzavod into USC
10:07 ZIM offers new service to the UAE
09:58 Sea Port of Saint-Petersburg expands its cargo space
09:36 Oil prices continue decreasing in response to growing US reserves
09:19 Baltic Dry Index as of October 21
09:05 The Grimaldi Group takes delivery of the Eco Valencia and Grande Florida
09:03 MABUX: Bunker market this morning, Oct 22
08:52 MSC Cruises to implement next-generation air sanitation system developed by Fincantieri for the cruise industry

2020 October 21

18:30 Hyundai Motors to ship 50 hydrogen trucks via the port of Antwerp
18:06 NYK Group dry bulk carrier rescues sailors off the coast of Indonesia
17:36 MAN Energy Solutions to lead Danish consortium developing ammonia-fuelled engine for Maritime sector
17:19 NSR cargo traffic to exceed 31 million tonnes in 2020 – Aleksey Likhachev
17:05 Stena Embla successfully completes sea trials