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Federal government awards JAXPORT additional $93 million for harbor deepening

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Federal government awards JAXPORT additional $93 million for harbor deepening. Image: JAXPORT
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Government fully funds its portion of deepening through Blount Island with largest single investment of federal funding in JAXPORT history.

The federal government allocated $93 million for the next phase of deepening the Jacksonville shipping channel to 47 feet from its current depth of 40 feet. A milestone for the project and a major victory for JAXPORT, the federal government has now fully funded the government’s portion of deepening through JAXPORT’s Blount Island Marine Terminal.

Of the total $93 million investment, $57,543,000 is included in the U.S. Army Corps of Engineers’ Fiscal Year 20 Work Plan, and an additional $35,457,000 is allocated in the A Budget for America’s Future – President’s Budget FY 2021.

“This is a significant win for Jacksonville and as I have said before, the continued support from our state and federal partners demonstrates the strength of JAXPORT’s future,” said Jacksonville Mayor Lenny Curry. “We are grateful for the continued growth under the leadership of CEO Eric Green. JAXPORT is Florida’s number one container port and as we continue to expand its capabilities, we know we will see even more jobs and economic growth.”

“This is the first time JAXPORT has ever received funding in the President’s budget, which speaks volumes about the significance of this project to the Southeast U.S. and the nation,” said JAXPORT CEO Eric Green. “We are extremely grateful to our federal, state and local partners, as well as the dedication and leadership of the JAXPORT Board, for their steadfast support of our growth and the 138,000 jobs Jacksonville’s seaport generates in Florida.”

Upon completion of the deepening project, the SSA Jacksonville Container Terminal at Blount Island will feature a vessel turning basin and have the ability to simultaneously accommodate two post-Panamax vessels. In November, the U.S Department of Transportation awarded JAXPORT a $20 million grant to enable the facility to accommodate more containers on an expanded footprint.

To date, the federal government, the state of Florida, JAXPORT, and port tenant SSA Jacksonville have contributed or pledged a combined total of more than $394 million dollars toward the cost of the $484 million deepening project, the first project of its kind to include funding from a private business.

Harbor deepening is divided into four segments, contracts A-D, which make up the full length of the 13-mile federally authorized project.

The current funding model covers the project’s first 11 miles through Blount Island (contracts A, B and C). Contractors for the U.S. Army Corps of Engineers are scheduled to complete the first 5.5 miles in spring 2020, marking the halfway point for this portion of the project.

Harbor deepening began in February 2018 and is anticipated to be complete in 2023, two years ahead of its original schedule, based on continued funding from all partners.

The 47-foot depth is required to accommodate more cargo aboard the larger ships calling on JAXPORT from destinations throughout Asia and other world markets through both the Panama and Suez canals. Asian container trade is an important part of JAXPORT’s container cargo business, up 55 percent in the last five years.

Supporters of this funding include President Donald Trump; Assistant Secretary of the Army for Civil Works R.D. James; the Florida Department of Transportation (FDOT); Florida Governor Ron DeSantis; Congressmen John Rutherford, Al Lawson, Michael Waltz, Ted Yoho, Daniel Webster, Neal Dunn, Brian Mast; Senators Rick Scott and Marco Rubio; and Jacksonville Mayor Lenny Curry.

JAXPORT is Florida’s largest container port and the nation’s second-busiest vehicle handling port. An economic impact study finds that the Jacksonville Harbor Deepening Project will create or protect 15,000 jobs and return $24 for every $1 invested in the project.

Container Terminal

Konecranes wins order for 20 RTG cranes in Nigeria

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Konecranes wins order for 20 RTG cranes in Nigeria. Image: Wikimedia/ Media Club
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Konecranes has won an order for 20 RTG cranes from APMT’s West Africa Container Terminal in East Nigeria. The order was booked in two parts, the first in December 2019 and the second in January 2020. Delivery is scheduled for Q4 2020 – Q2 2021.

APMT’s West Africa Container Terminal (WACT) is located in Onne Port, part of the Onne Oil and Gas Free Zone in Nigeria. It was one of the first container terminals to be built in Nigeria under public/private ownership. It offers excellent hinterland connections to the rest of Nigeria. The WACT is upgrading its container handling operation from reach stackers to RTGs to achieve greater stacking density, throughput and productivity.

The Konecranes RTGs on order are diesel-driven, 16-wheel machines stacking 1-over-5 high and 7 containers + truck lane wide. They are equipped with Active Load Control, Auto-steering and Auto-TOS reporting.

Mohammed A. Ahmed, Managing Director of APMT Nigeria said: “As testament to APMT’s long-term commitment to East Nigeria, we have signed a contract with Konecranes for the delivery of 20 RTGs to Onne Port. This is part of our earlier announced expansion of the existing terminal capacity, a USD 100 million investment, that started last year and that will be fully in place shortly. The expansion plan will deliver sufficient capacity to meet the envisaged growth in East Nigeria for the next 15 years.”

Ville Hoppu, Sales Manager, Konecranes Port Solutions, said: “We’re very pleased to have received this order from APMT, one of the world’s leading container terminal operators and a long-time user of our RTG cranes. We have many customers on the west coast of Africa and Onne will be in good company.”

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Maritime

MOL to start joint development for the digitalization of FSRU

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MOL to start joint development for the digitalization of FSRU. Image: MOL
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Mitsui O.S.K. Lines, Ltd. announced that it has reached an agreement for joint development of technologies and solutions for the digitalization of Floating Storage and Regasification Unit (FSRU) (Note 1), in partnership with Daewoo Shipbuilding & Marine Engineering (DSME; CEO: Sung-Geun Lee).

Through this collaboration, detailed operational data will be collected from FSRU and stored in a cloud-based data platform to develop applications for advanced remote operation monitoring and optimizing etc.. The project will enhance safe and efficient operation, which will further deepen cooperation between FSRU and shore-based facilities.

MOL works on this collaboration in cooperation with MOL’s “FOCUS” Project (Note 2) intended to enhance the collection and application of FSRU operation data.

(Note 1)
Floating Storage Regasification Unit. A floating facility for storing and regasifying LNG, which is then pressurized and piped ashore.

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Environment

A.P. Moller – Maersk links new $5.0bn revolving credit facility to its CO2 performance

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A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance. Image: Pixabay
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A.P. Moller – Maersk secures a new sustainability-linked revolving credit facility of $5.0bn through a syndicate of 26 selected banks. This is the first bank refinancing arranged by Maersk after its transformation from a diversified conglomerate to a global container logistics company.

The facility refinances the undrawn $5.1bn facility maturing in 2021 and has a tenor of five years which may be extended by up to two years. It will be part of the company’s liquidity reserve.

“We have received strong support from our global relationship banks. The facility was substantially oversubscribed, and we are pleased with the terms and conditions of the new facility. With the new facility we have extended the maturity profile of our finance commitments, while aligning with our sustainability ones,” highlights Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands.

The credit margin under the facility will be adjusted based on Maersk’s progress to meet its target of reducing CO2 emissions per cargo moved by 60% by 2030, which is significantly more ambitious than the IMO target of 40% by 2030 (all 2008 baseline).

In 2018 Maersk announced its commitment to becoming carbon neutral by 2050. The new finance facility affirms Maersk’s efforts to drive sustainability into its operations and supply chains.

“We are determined to reach our ultimate target of becoming fully carbon neutral by 2050, and this agreement serves as another enabler for us to deliver on that ambition. Given the lifespan of our fleet, we need to find new and sustainable solutions to propel our vessels within the next 10 years. To realize this ambitious commitment, we are partnering with researchers, regulators, technology developers, customers, energy providers – and now banks,” explains Henriette.

Banco Santander S.A., London Branch, Bank of America Merrill Lynch International Designated Activity Company, Barclays Bank Plc, BNP Paribas, Citibank N.A. London, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, Deutsche Bank, Handelsbanken, HSBC France, MUFG, Nordea, SEB and Standard Chartered Bank, joined as mandated lead arrangers.

Banco Bilbao Vizcaya Argentaria, S.A., London branch, DNB Bank ASA, Industrial and Commercial Bank of China (Europe) S.A., Brussels branch, ING Bank, J.P. Morgan Securities Plc, Mizuho Bank, Ltd., Morgan Stanley Bank International Limited, Natwest Markets Plc, Sumitomo Mitsui Banking Corporation, Société Générale and the Standard Bank South Africa Limited, Isle of Man branch, joined as lead arrangers.

Crédit Agricole and SEB acted as Sustainability Coordinators. MUFG acted as Documentation Agent and BNP Paribas as Facility Agent.

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