Category: Syria
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AD Ports buys into Syria’s Latakia terminal in CMA CGM deal
AD Ports buys into Syria’s Latakia terminal in CMA CGM deal AD Ports Group has struck a deal with France’s CMA CGM Group to acquire a 20% stake in Latakia International Container Terminal (LICT), Syria’s main container facility, for AED 81m ($22m). Under the agreement, the Abu Dhabi-based ports and logistics group will join CMA…
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DP World to invest $800m developing Syrian port
DP World to invest $800m developing Syrian port DP World has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the port of Tartus. As part of the agreement, DP World will invest $800m over the duration of the concession to upgrade the port’s infrastructure and…
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DP World to breathe new life into Syria’s Port of Tartus
DP World to breathe new life into Syria’s Port of Tartus The UAE-based logistics heavyweight DP World has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the Port of Tartus. The post DP World to breathe new life into Syria’s Port of Tartus appeared first…
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CMA CGM signs Syrian port deal
CMA CGM signs Syrian port deal CMA CGM has signed a 30-year deal with the Syrian government to develop Latakia port, including building a new berth and investing $260m to bolster Syria’s top port. CMA CGM has been operating at Latakia since 2009. The new deepwater berth will be 1.5 km long with depths alongside…
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US eases Syrian energy sanctions
US eases Syrian energy sanctions Following the ousting of Syrian dictator Bashar al-Assad last month, the US Treasury has decided to ease some sanctions on the war-torn Middle Eastern nation. While most restrictions remain in place, a general license issued by the Office of Foreign Assets Control (OFAC) yesterday allows transactions to support the sale,…
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Just one 45-year-old ship seen venturing into Syrian tumult
Just one 45-year-old ship seen venturing into Syrian tumult A small, 45-year-old, Tanzania-flagged general cargo ship is the only vessel venturing into Syrian waters today. The Turkish-owned Omorfi is headed to the port of Tartous, while the rest of international merchant shipping gives the Middle Eastern nation a wide berth, letting the uprising that saw…
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Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting
Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting Syria has become a no-go zone for international merchant shipping following the ousting of the Assad family from power. Ships are giving the Middle Eastern nation a wide berth in the wake of the uprising that saw Bashar al-Assad fly to Russia…