Latest news from Heavy Lift & Project Forwarding International magazine

Freeport approves Proposition A

Port Freeport's Proposition A, a USD130 million bond package supporting the Freeport Harbor Channel Improvement project, has been approved.

This approval allows the port to deepen the Freeport Harbor Channel from its current depth of 45 ft (13.7 m) to a maximum level of 55 ft (16.7 m) at its deepest point.

According to the port, the project will make it the deepest channel in Texas. The estimated total cost of construction is USD295 million.

More than half of the project is expected to be paid with federal funds, with approximately USD165 million to be provided through the U.S. Army Corps of Engineers.

Construction is expected to begin in 2020 and be completed in approximately five years. In addition to deepening the channel, enhancements will be made to the turning basin and the narrowest section of the channel will be widened.

 

www.portfreeport.com

Heavy Lift | News

Turner named at IUMI thumbnail image

Turner named at IUMI

September 21 - Richard Turner, European director of global risk solutions at RSA Insurance, has been elected as the new president of the International Union of Marine Insurance (IUMI), taking over from Dieter Berg who has completed his four-year term of office.
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Multipurpose rates continue to rise thumbnail image

Multipurpose rates continue to rise

September 21 - Time charter rates in the multipurpose shipping sector have increased over the last month, according to the latest data from shipbroker Toepfer Transport.
Views: 367

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