Netherlands-based company that provides services relating to the construction and maintenance of maritime infrastructure on an international basis - Bokalis - decided to withdraw 24 vessels out of worldwide operations.

This decision will influence mostly old vessels - over 30 years old, which will be dismantled in accordance with the Hong Kong Convention and Boskalis standards.

It has become a result of fallen market volume, however there is no reason to worry - around 650 workers, who lost their jobs will be redeployed accordingly. The whole process will be fulfilled within 2016-2018

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New container terminal in Panama

Panama Maritime Authority and the Chinese consortium signed an agreement to set and design the first container terminal in Colon for post-panamax vessels.

China is ready to invest USD 900 million for this new project. New Colon terminal will be built by  China Communications Construction Company and designed by Beijing-based Port Design Institute. It  will have a capacity of up to 2.5 million TEUs and total quay line of 1,200 m including four berths. Besides the terminal will have a container yard with a capacity of storing 36,000 TEUs.

New project will be finished by end of 2017.

New Indian Major port

India's government announced, that a new major port in Enayam was approved for setting up. The construction will take place in Tamil Nadu.

The investors for development will be other major ports: Chidambaranar Port Trust, Chennai Port Trust, and Kamarajar Port Limited.

It's going to be a huge project with its own infrastructure, the process will include dredging, reclamation and construction of breakwater.

This major port at Enayam will become a transshipment point for global East-West route, a gateway largest container Indian port, handling the majority of cargo.

COSCO will be investing into Piraeus port

Chinese shipping companyCOSCO will tie up more than $550 mln into Piraeus port, one of the biggest Greece ports, during the next 5 years. Investments include development of port's services and facilities and improvement within shipbuilding and cruise industry.
It means that COSCO will purchase initially 51 percent of Piraues port operations and the remaining 16 percent (which is over EUR 88 mln) within five years. The agreement was signed between COSCO and Greece privatization agency back in April this year. Future enclosure will extend container loading and shipyard capacity.