KPIZ plans $1bn bond
State-owned Abu Dhabi Ports Company (ADPC) may sell up to $1 billion in bonds early next year to finance the Khalifa Port & Industrial Zone (KPIZ) in Abu Dhabi, its chief financial officer said.
ADPC has appointed National Bank of Abu Dhabi as financial adviser to draw up a long-term strategy.
“One of our options is a sukuk or bond in the first quarter of 2011 of about $1 billion,” said Ala Khannak.
Khannak said the ports operator is working closely with Abu Dhabi’s Debt Management Office.
ADPC is developing the $2.18 billion KPIZ project, located midway between Abu Dhabi and Dubai in Taweelah
DP World handles 23.7m teu
Global marine terminal operator DP World handled 23.7 million teu (twenty-foot equivalent container units) across its portfolio of 50 operating terminals in the first half, up 16 per cent against the same period last year and
ahead of 2008.
Saudi firm orders tanker
National Shipping Company of Saudi Arabia, through its subsidiary National Chemical Carriers (NCC), has signed a contract with Daewoo Shipbuilding and Marine Engineering (DSME) to build a SR245 million ($65.3 million) specialised chemical tanker.
The vessel will be classed by DNV with full IMO 2 notations and 75,000 DWT with cargo capacity of 86,000 cu m comprising fully segregated coated cargo tanks. Delivery is expected during 2013 and NCC has the option for a second vessel to be announced at a later date.
ADT volumes announced
Abu Dhabi Terminals (ADT), which is managed by top marine operator Dubai World, handled 206,866 containers, down seven per cent, and 2.98 million tonnes of general cargo, an increase of 12 per cent, a senior port official said.
Jeddah terminal receives cranes
Saudi Arabia’s Red Sea Gateway Terminal (RSGT) at Jeddah Islamic Port (JIP) has received two quayside container (QC) cranes and six tandem lift gantry cranes (RTGs).
Manufactured by Zhenhua Port Machinery, the new cranes bring the total number of cranes currently serving the gateway terminal’s four berths and 50,000 TEU stacking yard to 8 QC and 26 RTGs.
