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AD Ports moves to develop Congolese port - Splash247
Massive port construction is underway up and down the west coast of Africa. The latest development slated is in the Republic of Congo where fast-growing AD Ports from Abu Dhabi has signed a head of terms with the government for a new multipurpose terminal in Pointe-Noire. Under the agreement, AD...
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Ghana presses ahead with repair yard project - Splash247
The African Development Bank has approved a $23.04m loan to Prime Meridian Docks (PMD), a special purpose entity to co-finance the construction of a modern floating dock ship repair facility in Ghana’s western Takoradi port. The loan will support the company to design, build, operate and...
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COSCO finalises Hamburg terminal stake buy - Splash247
COSCO Shipping Ports Limited has signed an agreement with HHLA to acquire a minority shareholding in Container Terminal Tollerort.
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White House hails progress made in US west coast port contract negotiations - Splash247
The White House has hailed progress made in California this week to resolve the impasse between dockworkers and employers at US west coast ports. Under pressure from a host of business groups, president Joe Biden sent his acting labour secretary, Julie Su, to San Francisco on Monday for talks...
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Grimaldi to take over Heraklion port - Splash247
Italy’s Grimaldi Group is bolstering its footprint in Greece. The company, which owns Minoan Lines, has been selected as preferred bidder for Crete’s top port, tabling €80m ($86.4m) for a 67% stake in the Heraklion Port Authority in the latest phase of Greece’s port privatisation process. Last...
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CMA CGM takes stakes in Spanish terminals - Splash247
French carrier CMA CGM is strengthening its foothold in Spain with stakes in two COSCO-operated terminals. The Marseille-based shipping giant has sealed a deal to acquire 49% of Cosco Shipping Ports (CSP) Valencia and 38% of CSP Bilbao from TPIH Iberia for an undisclosed sum. CSP Bilbao links...
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Berlin green lights COSCO’s Hamburg terminal investment - Splash247
After much deliberation, Berlin has green lighted COSCO’s purchase of a minority shareholding of a terminal in Hamburg, a decision that has been many months in the making and sparked considerable debate in Germany about Chinese state firms buying into national infrastructure. Hamburger Hafen...
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