Connect with us

Impex

U.S. Transportation Secretary Elaine L. Chao announces $500 million loan for Port of Long Beach

Published

on

U.S. Transportation Secretary Elaine L. Chao announces $500 million loan for Port of Long Beach. Image: Flickr/ Scott Lederer
Listen to the story (FreightComms AudioPost)

U.S. Transportation Secretary Elaine L. Chao announced that the U.S. Department of Transportation’s Build America Bureau will provide a loan of $500 million under the Transportation Infrastructure Finance and Innovation Act (TIFIA) to the City of Long Beach, California, acting through its Board of Harbor Commissioners (the Port of Long Beach).

“This $500 million federal investment reflects the President’s continued emphasis on infrastructure that will reduce traffic congestion while enhancing the Port of Long Beach’s ability to handle large container ships to support economic growth in the region and the country,” said U.S. Transportation Secretary Elaine L. Chao.

The loan will help finance construction of the Gerald Desmond Bridge Replacement Project, which is located at the Port of Long Beach at the southern end of State Route 710 in Los Angeles County.  It is the primary link between the ports of Long Beach and Los Angeles, the two largest container ports in the United States, and the warehouses and rail yards north of the ports.  It is also the primary connection between the communities of San Pedro and Long Beach, and connects residents to major employment centers.

The purpose of the project is to replace an outdated structure constructed in 1968 with a state of the art cable-stayed bridge.  The new bridge will: 1) accommodate increased vehicular traffic; 2) provide emergency lanes in both directions; 3) improve safety; and 4) reduce delays.   Its 205-foot vertical clearance will accommodate larger cargo vessels.

Substantial Completion of the project is expected to occur in July of 2020, after which the existing structure will be demolished. The loan will replace a $325 million TIFIA loan which closed in 2014, but remains undrawn.  The principal amount has been increased to assist the Port with additional costs arising from the implementation of more robust design and lifecycle features. 

The Port of Long Beach is a landlord port that derives its revenues largely through long-term property and rental agreements conveying a right to use, rent, or lease port assets.  The TIFIA loan will be repaid through revenues generated by the Port’s operations.

The Bureau, which administers the TIFIA credit program, was established as a “one-stop shop” to streamline credit opportunities, while also providing technical assistance and encouraging innovative best practices in project planning, financing, delivery, and monitoring.  During Secretary Chao’s tenure at DOT, the Department has closed nearly $7.7 billion in TIFIA financings, supporting over $27.2 billion in infrastructure projects across the country.

Air Freight

LogiPoint reinforcing Jeddah as the Regional Logistics Hub of choice

Published

on

LogiPoint reinforcing Jeddah as the Regional Logistics Hub of choice. Image: LogiPoint
Listen to the story (FreightComms AudioPost)

LogiPoint at Jeddah Islamic Port established the first bonded corridor connecting the Bonded and Re-Export Zone at Jeddah Islamic Port and King Abdulaziz International Airport to facilitate the multimodal movement of cargo. 

The trial conducted on a shipment that arrived by sea freight to LogiPoint Bonded and Re-Export Zone at Jeddah Islamic Port then shipped onward to its final destination in the Netherlands by airfreight through King Abdulaziz International airport. 

With the support of the Saudi Customs and Jeddah Islamic Port and in line with vision 2030 and the National Industrial Development and Logistics Program (NDLIP), the success of this shipment increases the competitiveness of the region. It creates an efficient and cost-effective sea-air and air-sea link to establish Jeddah as a preferred multimodal transshipment hub.

LogiPoint CEO Farooq Shaikh said, “The bonded corridor facilitates trade for customers by providing a multimodal bonded access to regional target markets combining sea, land and air freight. It also gives Jeddah a significant advantage to compete in the transshipment cargo segment”

LogiPoint is always making dynamic efforts to introduce international concepts and solutions towards enhancing logistics efficiency to attract foreign investors. Its strategic location and the world-class facilities have which strengthen the position of Jeddah Islamic Port a major logistics hub.

Continue Reading

Impex

5000 tons of wheat donated by India arrives through Chabahar Port

Published

on

5000 tons of wheat donated by India arrives through Chabahar Port. Image: MRUD Ports and Maritime Organization
Listen to the story (FreightComms AudioPost)

Negar Ship carrying 203 20-foot Containers as the first part of the 75000 tons shipment of humanitarian aids and the tenth shipment of wheat from India to Afghanistan arrived at the Port of Shahid Beheshti in Chabahar.

This freight is 5000 tons of wheat which has been donated to Afghanistan by India. The unloading process is running quickly in order to be transited to Afghanistan through Milak Border.

Abdolghafour Lival, Afghanistan Ambassador in Iran, visited Shahid Beheshti Port simultaneous with his attendance to observe the unloading process and stated that this is the first 5000-tons freight of wheat as part of 75000 tons wheat shipment which is to be transited to Afghanistan through Chabahar Port.

Abdolghafour Lival appreciated cooperation of two friendly nations in transiting wheat in current critical situations which the region and the world are suffering from the outbreak of Covid-19. He expressed hope over fast transit of this freight to Afghanistan.

He also appreciated Iran’s officials especially Iran’s Ports and Maritime Organization (PMO) as well as Chabahar Port’s authorities who are speeding up the loading and unloading process.

Behrooz Aghaie, the head of Sistan and Baluchistan’s PMO pointed to the high capacity of Chabahar Port that operates with the most modern and up-to-date loading and unloading equipments and plays a significant role in the transport and unloading of freight.

Continue Reading

Impex

ABB and Metsä Fibre sign agreement to supply electrification and drive technology for new Finnish bioproduct mill

Published

on

By

ABB and Metsä Fibre sign agreement to supply electrification and drive technology for new Finnish bioproduct mill. Image: ABB
Listen to the story (FreightComms AudioPost)

ABB and Metsä Fibre, part of Metsä Group, have signed a preliminary, binding agreement according to which ABB Finland will deliver electrification and drive technology solutions for Metsä Fibre’s planned bioproduct mill in Kemi, northern Finland.

The agreement is subject to Metsä Group’s final investment decision, which will be made earliest in autumn 2020. The order is worth approximately EUR 40 million. Production at the new mill could start in 2023. The production capacity is 1.5 million tonnes of pulp per year, as well as many other bioproducts.

“We are extremely pleased that our expertise and products will be part of this planned investment, which if realized will be the largest ever investment in the forest industry in Finland. Our deliveries for the project would contribute to ensuring the high availability of the mill as well as reliable and efficient production and efficient use of energy. ABB Finland has more than 30 years of experience in demanding pulp and paper industry electrification and overall delivery projects, both in Finland and globally,” said ABB Finland’s Managing Director Pekka Tiitinen.

“ABB represents the values we require from our partners: a commitment to safety, on time delivery and quality delivery. A high degree of domestic content is also essential. We are moving towards the common goal of building a fossil-free bioproduct mill in Kemi, which is the most efficient wood processing plant in its field. We have all the prerequisites to implement a successful major project together with a competent partner,” said Ismo Nousiainen, CEO of Metsä Fibre.

According to the preliminary agreement, over 1,000 electric motors for the planned Kemi bioproduct mill will be manufactured in Finland at ABB’s factories in Vaasa and Helsinki. The mill’s protective relays and safety switches would be supplied by ABB’s factories in Vaasa, and over 600 drives would be supplied by the world’s largest drive factory in Pitäjänmäki, Helsinki. Furthermore, ABB Power Grids Finland is responsible for the transformer deliveries for the Kemi project. The main transformers for the mill would be manufactured at the ABB Power Grids transformer factory in Vaasa.

The planned mill would make comprehensive use of ABB’s newest and extremely reliable energy-efficient electrification and operations technology. The electric motors for the mill would be controlled by ABB’s latest intelligent motor control system. To save energy, ABB’s new range of drives would control half of the mill’s electric motor power. The mill is planned to use ABB’s latest generation of high-efficiency motors as standard. The mill’s electrical system and drive technology would be integrated into ABB’s Ability™ condition monitoring and remote support system.

Continue Reading

Popular

Copyright © 2017-18 | FreightComms | Made with ♥ in Singapore