U.S. Senator Mary L. Landrieu, D-La., released the following statement regarding the record $1.4 billion Transocean settlement for its role in the Deepwater Horizon disaster. Transocean will pay $400 million in criminal fines – with $300 million of that going to the Gulf Coast – and $1 billion in Clean Water Act (CWA) penalties. The [...]
The Directors of Liquefied Natural Gas Limited announced that the estimated total cost of the Gladstone Fisherman’s Landing Project (LNG Project) remains at US$1.1billion. This capital cost includes the engineering, procurement and construction (EPC) for the First LNG train of 1.9 million tonnes per annum (mtpa) LNG production capacity, including a 22km connecting gas pipeline, [...]
![Indonesia Needs USD 46.1 Billion for Ports Development, Official Says]()
Leon Muhammad, Director General of the Directorate General of Sea Transportation, said that Indonesia needs US$46.112 billion for port development projects until 2030. According to Bernama, the government can only provide 31.7 per cent or US$14.613 billion, while the remaining 68.3 per cent or US$31.499 billion will be from foreign investors. Leon said 26 ports [...]
![USA: House Recommends USD 1 Billion for Dredging]()
The U.S. House Energy & Water Appropriations Subcommittee, chaired by Rep. Rodney Frelinghuysen, has approved its fiscal 2013 funding bill for the U.S. Army Corps of Engineers, including a $1 billion draw from the Harbor Maintenance Trust Fund for maintaining America’s deep-draft navigation channels and harbors. This would be the largest regular annual appropriation for [...]
Port of Long Beach Executive Director J. Christopher Lytle and Orient Overseas Container Line CEO Phillip Chow signed a $4.6 billion, 40-year lease for the new Middle Harbor container terminal at a ceremony at OOCL’s Hong Kong headquarters on Tuesday, April 3. The inking of the historic agreement was celebrated by officials from the [...]
![USA: Budget Provides USD 92 Million for Great Lakes Navigation]()
The President’s fiscal year 2013 budget provides $4.7 billion for the U.S. Army Corps of Engineers civil works program with almost $92 million for Great Lakes navigation projects in the Buffalo, Chicago, and Detroit Districts. The funding includes $84.7 million for the operation and maintenance program and $7 million for the construction general program. The [...]
The Port of Long Beach has reached a tentative agreement on a 40-year, $4.6 billion lease with Orient Overseas Container Line (OOCL) for the Middle Harbor property, in what would be the largest deal of its kind for any U.S. seaport, Port of Long Beach Executive Director J. Christopher Lytle announced Thursday. The lease has [...]
State-owned China Harbor Engineering Co (CHEC), one of China’s top port builders, sealed new contracts worth $5.2 billion last year, … (chinadaily) Source: chinadaily, January 10, 2012; Image: chec
![China: Wuhan Plans to Invest USD 13.53 Billion in Port Development]()
River-city Wuhan in Central China recently worked out a plan according to which the city will spend US$8.33 billion on port development in the 12th National Five-year Plan period from 2011 to 2015. Over the long term Wuhan plans to invest US$13.53 billion on port development and eventually raise its container capacity to 150 million [...]
![Peru Plans to Invest USD 3 Billion in Ports]()
In pursuing efforts to modernize its port network, Peru plans to invest $3bn in the upcoming five years. Half of the investment will be provided by the private sector and the other half from the state through public-private partnerships. Ranked 106th out of 142 countries in the world in terms of port, this investment will [...]
