Port Houston: Bigger ships need wider channel Port Houston officials say widening of the shipping channel is necessary to accommodate increasingly bigger vessels and maintain its status as a big driver of the Texas economy. “When you add it all up, the ship channel area is really responsible for 1.35 million jobs in Texas, over 3 million nationwide, $339 billion in economic ...

MMC Corp’s biggest port PTP gearing up for better times — AmInvestment Bank AmInvestment Bank Bhd has maintained its “buy” call for MMC Corp Bhd with a fair value (FV) of RM1.56, valuing the company’s port division at 16 times earnings per share (EPS) forecast for the financial year ending Dec 31, 2021 (FY21F). The research house said that is at a 30% discount to its peers’ historical ...

Panama Canal Authority says it has won $265 mln arbitration case The Panama Canal Authority said it won an arbitration ruling on Friday for $265 million to be returned to it from the consortium that built a third set of locks for the key transoceanic waterway. The authority cited a decision from a Miami-based arbitration board it said was issued earlier on Friday. The GUPC consortium, ...

Egypt’s Suez Canal revenue edged up in August -cabinet Egypt’s Suez Canal generated $467.8 million in revenue in August, up from $440.1 million in July, a cabinet statement said. The slight rise in earnings comes after revenue was hit earlier this year by the impact of the pandemic. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian ...

State gas company selected for state project to establish LNG bunkering A consortium led by as a state-run gas company was selected to build South Korea’s first vessel for liquefied natural gas (LNG) bunkering, which is the supplying of fuel for use by ships and includes the shipboard logistics of loading fuel and distributing it among available bunker tanks. Korea Gas Corp. (KOGAS) has formed a ...