AD Ports will buy a 70 percent equity stake in International Associated Cargo Carrier, which owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI).
The deal is valued at USD140 million. Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. TCI is a terminal operator and stevedoring company, mainly operating out of the Adabiya port.
President of the UAE Sheikh Mohamed bin Zayed Al Nahyan has inaugurated AD Ports group’s Khalifa Port’s expansion - a major development project with a total investment of USD1.1 billion.
ATB Riva Calzoni has delivered two reactors and a high-pressure separator drum for the Assiut refinery complex in Egypt.
Colonel’s Island Terminal at the USA’s port of Brunswick had its busiest month ever for ro-ro cargo during March 2024 handling 77,236 units, an increase of 21 percent over the same month of last year.
Shanghai Shipbuilding Research and Design Institute (SDARI), in collaboration with DNV and Toepfer Transport, has developed two state-of-the-art multipurpose vessel designs: Octopus 12.6 and Octopus 12.
Wallenius Wilhelmsen has joined global public-private partnership the First Movers Coalition (FMC), which is working to scale the most critical, emerging climate technologies required to decarbonise the world’s heavy-emitting sectors.
Total cargo throughput of the port of Antwerp-Bruges amounted to 70.4 million tonnes in the first quarter of 2024, an increase of 2.4 percent compared to the same period last year, with container throughput increasing and the general cargo sector showing signs of recovery.
