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Source: Bloomberg BusinessWeek
KMCT, located in Kaohsiung, southwest Taiwan, was set up as a build-operate-transfer (BOT) project between the Port of Kaohsiung Intercontinental Container Terminal BOT, Kaohsiung Harbour Bureau and Yang Ming, reported Cargo News Asia.Ports America International Holdings Cooperative, an affiliate of US terminal operator Ports America Group, will buy a 10 percent stake in Taiwan’s Kao Ming Container Terminal (KMCT), fully-owned by Taiwanese box carrier Yang Ming Marine Transport, reported SeeNews Shipping.
The terminal started operations in January 2011. The facility handled 1.08 million TEUs in its first year of operation. Ports America operates in over 42 ports and 80 locations worldwide.
More at Cargo News Asia
A decision on whether to relocate the 500 people who work in the 26-story tower, or continue in the building as a tenant, will be made after a buyer is found.Singapore-based box shipping and logistics firm Neptune Orient Lines Limited (NOL) today announced their intention to sell the company’s Alexandra Road headquarters building.
The move has been taken in order to release capital for “strategic investment”, NOL said in a press release.
NOL have made losses in their previous five quarters with Ship & Bunker reporting in May the company announced a loss of $254 million for Q1 2012.
More at Ship and Bunker
Source: USW
Source: NYTimes
Source: WNYC
Source: Indybay
Source: Washington Examiner
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