Colombo, February 15: Private sector investment and involvement in developing ports emerged as a significant requirement in the 1980s. By this time, many ports had become bottlenecks to the efficient distribution chains of which they are an essential component. Government investments into port development was categorized as White Elephant Syndrome due to the following three main problems, illustrated by port congestion and consequent chronic service failures, contributed to the gradual deterioration of service quality during this period.
The first reason for a lack of port service quality was the inability or unwillingness of many governments to invest in expensive port infrastructure or the misinvestment in infrastructure (providing facilities that were badly matched with the needs of foreign trade and shipping). During this period, a number of beautifully constructed port complexes became white elephants
Introduction and History
This nine-deck cruise liner was built in France for Festival Cruises in 2002 as European Stars. After the company went bankrupt, MSC took the ship on and renamed it
MSC Sinfonia. The ship is similar in design to
MSC Armonia; they were produced in the same yard and had the same original owners.
MSC Cruises is a wholly owned subsidiary of Mediterranean Shipping Co. Based in Geneva, Switzerland, the parent company operates one of the world s la.
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A group of Indian sailors stranded off the Chinese coast for seven months, caught up in a trade dispute between China and Australia, have been allowed to leave for Japan, union officials said.
The sailors had been stuck outside the Chinese port of Jingtang since mid-June due to a Chinese trade embargo on Australian coal.
The embargo kept them from reaching China but maritime law prevented them from taking off with a cargo that had been purchased by Chinese merchants.
“Our seafarers who were doing their job were caught in a political and trade war between Australia and China,” Abdulgani Serang, the general secretary of the National Union of Seafarers of India, told the DPA news agency.
Container Shipping Market to see Huge Growth by 2025 | Maersk , CMA CGM, COSCO Container Lines texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.
1 January 2021 10:25 GMT Updated 4 January 2021 11:05 GMT in London
Zim Integrated Shipping Services has filed papers to launch an initial public offering in New York, in a bid to make good on long mooted plans to go public.
The Israeli containership operator aims to list its shares on the New York Stock Exchange, where it will trade under ticker symbol ZIM, in a move that, if successful, would break a long absence of shipping IPOs on US capital markets.
The Haifa-based company did not give a timing for the IPO but pencilled in the aggregate value for the potential share sale at $100m.