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From Ahram Online:
1,200 workers say that Dubai-based DP World had promised permanent employment and has failed to deliver. ‘DP World’s management of the port is a failure,’ said union leader Mostafa Ali. ‘They are failing in all of the seaports under their management – in the Port of Aden in Yemen and [...] 
Making Emma Maersk seaworthy after last week’s incident in the Suez Canal is a complicated process, and a Maersk executive admits it is probably a matter of months before she can enter service again. Palle Laursen, Head of Ship Management for Maersk Line, shares the latest update on the Emma Maersk incident that took place [...] Emma Maersk, one of the world’s largest container ships that found itself in trouble in Egyptian territorial waters, has been safely tugged to berth Saturday in Port Said East Suez Canal Container Terminal (SCCT), the Danish owned company has stated. According to a Maersk statement, the 397-metre long vessel cancelled its southbound voyage through the [...] Egyptian grain buyers, squeezed by droughts in Russia and Australia, bought 165,000 tons of wheat this month from a far-flung source, the Pacific Northwest. The sellers included Cargill Inc. and Louis Dreyfus Commodities, two of the multinational goliaths involved in contract talks with longshore union leaders as a potential lockout looms at grain terminals in [...] 2,700 dockworkers are on strike at Ain Sokhna port in Egypt to demand the reinstatment of eight of their colleagues by DP World. Dubai Ports World, the company operating the Ain Sokhna port, filed charges against striking workers on Monday, accusing them of costing the company LE40 million (USD $6,550,000) in just five days. [...] Daily News Egypt cited Suez state security head, General Adel Refaat, as saying Friday that nearly 2,700 workers are protesting the firing of eight fellow port workers. 2,700 Ain al-Sokhna port workers demand the return of eight fired colleagues A strike at an Egyptian Suez Canal port Oct. 13 left Cairo’s main cargo [...] From Economic Times: Straddling one of the world’s great sea routes, the Suez Canal corridor is set to become a bridge connecting Africa with Asia if a grand plan by Egypt’s new government comes to fruition. President Mohamed Mursi’s administration is reviving and expanding a series of projects initiated in the late 1990s under former [...] Russia, with the world’s fourth-largest expanse of arable land and huge potential for modernisation in the agriculture industry, is trying to position itself long term to double grain exports and grab a bigger share of growing world food demand. Russian aluminium tycoon Oleg Deripaska’s vehicle Basic Element (BasEl), a long-time investor in agriculture, has [...] This London School of Economics and Political Science article exposes the U.S. government’s role in the poor living conditions that led to the Egyptian uprising last year: When [Egyptian workers and activists] took to the streets last year it was not only against tyranny and political repression, but also against the neoliberal economic order – [...] A.P. Moeller-Maersk A/S, Europe’s biggest ship owner, may contribute to the building of a navigation side channel in the Suez Canal Container Terminal at Port Said, Egypt’s Ministry of Transport said. The planned navigation channel will cost 500 million Egyptian Pounds ($83 million), the ministry said today in an e-mail, citing Maersk Chief Executive [...] Egypt's minister for international cooperation, Fayza Aboul Naga, said the USAID's actions violate Egyptian sovereignty. “I am not sure at this stage we still need somebody to tell us what is or is not good for us—or worse, to force it on us,” Fayza Aboul Naga, who has been Egypt’s minister for planning and [...]
A dockers’ union won recognition from global terminal operator APM Terminals (APMT) in Port Said, Egypt, after two days of strike action. Workers at the Suez Canal container terminal, owned by APM Terminals, took strike action on 27 February in protest over management’s refusal to negotiate with the union committee. The [...] APM Terminals boosted earnings 60 percent in 2010 from the previous year as profit from the disposal of a stake in China’s Yantian terminal outweighed the loss of global market share. The company expanded and upgraded several terminals in 2010 to keep pace with demand, most notably the Suez Canal Container Terminal in Port Said, [...] Hanjin Shipping, the world’s ninth biggest container shipper, predicted global container shipments would grow up to 8 percent this year, supported by bright trans-Pacific trade prospects. However, given a better-than-expected 2010 for the container market, chief executive Kim Young-min did not see industry profitability improving amid high oil prices. From the Manila Bulletin Global grain companies looked past anti-government protests that toppled Egyptian President Hosni Mubarak on Friday to sell Cairo a large quantity of wheat without raising prices to include any risk premium. The sale underscored Egypt’s position as the world’s top wheat importer, and more importantly, its reliability on payments even at the height of [...] |
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