Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

ICTSI head: Investments in 'bad places' pay off when there's no competition

From an article titled ‘Investors should take long-term view,’ in the Manila Times:

Enrique Razon, CEO of ICTSI, the terminal operator that took over management of Portland’s Terminal 6 in 2010.

Taking a long-term view and aiming to “own the market” should be considered by corporate giants looking to invest overseas, a Philippine business […]

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DP World stocks surge after Iran nuclear deal reached

DP World stocks surge ahead following the announcement from Iran and western nations that a nuclear deal has been reached.

DP World, which trades on the NASDAQ Dubai exchange, surged 6.5% to Wednesday to close at US $23.65 on expectations that the lifting of US and EU sanctions on Iran will significantly benefit the company.

[…]

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DP World may invest up to US $1bn in Iranian ports

Dubai’s DP World has sent a delegation to Iran to asses investment opportunities potentially reaching US $1-billion.

Iran, once sanctions are dropped, will offer a unique transit corridor linking Russia and Central Asia to the subcontinent and the Arabian Gulf. Its large size and stability in comparison to Iraq and Syria also makes it a […]

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Iran releases Maersk container ship seized in strait of Hormuz

Excerpts from The Guardian:

Iran has released a Marshall Islands-flagged container ship and its crew which were seized last week in one of the world’s major oil shipping lanes, the vessel’s operator has said.

The ship was diverted on 28 April by Iranian patrol boats in the strait of Hormuz, prompting the US to send […]

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Iran seizure of Maersk container ship tied to old cargo dispute

Maersk Tigris seized in Iran. BBC graphic.

Iran’s seizure of a container ship this week stems from a decade-long dispute over 10 shipping containers, officials at Maersk, the Danish shipping giant, said on Thursday.

The United States sent a destroyer to the Persian Gulf on Tuesday in response to the seizure. On Thursday, Col. […]

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Dubai piers abuzz as Iranian deal fuels hopes of new trade boom

From Bloomberg News:

[S]hips’ crews were upbeat as last week’s accord over the Islamic Republic’s nuclear program brought the lifting of sanctions and the return to unfettered commerce one step closer. Few places are better located to benefit than the United Arab Emirates, Iran’s second-biggest trading partner after China since 2009, data compiled by […]

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Food shipments halted as Maersk bows to U.S. Iran sanctions

Iran’s civilian population is already reeling from sanctions that, according to the United Nations, are cutting access to medicine and humanitarian goods. But today, Maersk Line, the world’s largest shipping container company, announced it will end port service in Iran.

In Maersk’s statement, they declared that their cargoes had been limited to goods for the […]

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In Iran, sanctions aim at shipping lifeline

Iran has come to rely on imports of food, autos and computer chips.

On June 30, the Danish shipping giant Maersk startled Iran’s trade officials by abruptly pulling out of the country’s three largest ports. Company officials said little about the decision, but the timing was striking: A week earlier, the Obama administration had […]

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Maersk to suspend business at 3 Iranian ports due to US sanctions

Maersk Line, the world’s top container firm, said it will suspend operations at Iran’s Bandar Abbas and two other Iranian ports to comply with U.S. sanctions.

“After making a few phone calls last night, Maersk decided to do this,” Thomas Riber Knudsen, the head of Maersk Line’s Asia operations, told Reuters on Thursday.

The United […]

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French shipping company CMA CGA faces US sanctions

Israel claims the weapons in the March shipment were bound for Hamas. CMA CGM said it was a victim of false transport documentation from the sender.

Leading US Republican congressmen are urging the the US Treasury Department to consider sanctions against the world’s third-largest container shipping company – France’s CMA CGM – for possible […]

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US Slaps Sanctions on Ofer Brothers’ Businesses

U.S. Secretary of State Hillary Clinton on Tuesday slapped sanctions on seven companies that allegedly do business with Iran – two of them companies with strong Israeli ties.

The Ofer brothers own one of the largest private shipping companies in the world.

Among those singled out by Clinton for alleged business ties with Iran […]

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Iran, Venezuela plan to build rival to Panama Canal

Iranian President Mahmoud Ahmadinejad and Venezuelan President Hugo Chavez

The recent border dispute between Costa Rica and Nicaragua is a sign of an ambitious plan by Venezuela, Iran and Nicaragua to create a “Nicaragua Canal” linking the Atlantic and Pacific oceans that would rival the existing Panama Canal.

Costa Rica says that [in November], […]

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Maersk Pays $3.1 million Fine for Breaking U.S. Sanctions

The trade embargo on Sudan is due to human rights violations and support of international terrorist groups.

Maersk Line said it paid a $3.1 million fine to the United States for violating its embargo on trade with Iran and Sudan.

U.S. authorities sued Maersk Line for using ships registered in the U.S. to carry […]

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