Major US ports Long Beach and Los Angeles have handled a record number of containers in the first months of the year, in which bottlenecks and the Covid-19 pandemic has resulted in container queues off the US West Coast.
The Singapore Port Authority now supports a proposal to establish a center for decarbonization. The center will create a framework through which stakeholders can coordinate and implement solutions that can help reduce CO2 emissions in shipping.
Three French ports of the cities Le Havre, Rouen and Paris now merge into one new giant, to ensure that the ports remain globally competitive in the future. More than USD 1.6 billion will be invested to develop and expand the new port complex.
Port company DP World demands USD 210 million in compensation from the state of Djibouti in a dispute regarding the nationalization of a port terminal. The compensation will cover losses from 2018 to 2020.
Blue Ocean Capital, investor in port infrastructure, sees a strong start to 2021 for the purchase and sale of ports and terminals, with expectations of further consolidation in Europe this year. However, bottlenecks and increasing unpredictability is a concern, says Managing Partner of the private equity fund.