Tag Archives | Ports

The latest news on Iraq’s ports – security, tenders, Kuwait new port & competition and more – brought to you by Iraq Business News

New Investment at Umm Qasr Port

Basra Multi-purpose Terminal (BMT), the largest multi-purpose port facility in Iraq, announces a major development in the Port of Umm Qasr. Marking a significant expansion to their existing facilities, BMT will be increasing their total investment in Umm Qasr Port to over USD 200 million, aimed to further advance the port in the international trade […]

ICTSI Invests additional $250m in Iraqi Port

By John Lee. Philippines-based International Container Terminal Services, Inc. (ICTSI) has started its second phase investment in new container terminal infrastructure well underway at its Basra Gateway Terminal (BGT) at the Port of Umm Qasr. The company said in a statement: ICTSI is unique in demonstrating its commitment to the Iraqi ports sector via large […]

$6bn Iraqi Port Development available for Investment

By John Lee. Iraq’s National Investment Commission (NIC) has included the “Grand Port of Al Faw” in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: Project cost: $6 billion Location: Basra Design capacity: Phase one 2018: […]

Petrofac wins $160m Iraq Contract

Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known as South Oil Company (SOC), for its Iraq Crude Oil Export Expansion Project (ICOEEP). The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service […]

Iraq Increases Oil Export Capacity

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has said that oil export capacity at Iraq’s southern ports has increased to 4.6 million barrels per day (bpd), following the completion of its fifth single floating terminal. The new terminal has a capacity of 900,000 bpd. The Minister said Iraq will continue to […]

Hutchison Ports Partnering with Iraq Terminal Operator

Hutchison Ports and the Pritzker Family Business Interests (“PFBI”), advised by The Pritzker Organization, L.L.C. (“TPO”), announced today that the leading Hong Kong-based port operator has agreed to partner with NAWAH Port Management, L.L.C. (“NPM”) to manage existing and future operations at the historic Port of Basra in southern Iraq. Hutchison Ports will assume oversight […]

Iraq receives its Largest Container Vessel

By John Lee. The largest container vessel to call at an Iraqi port has been unloaded at Gulftainer’s Iraq Container Terminal (ICT) earlier this month. According to TradeArabia, the YM Wealth, owned by Taiwan-based Yang Ming Marine Transport Corporation, discharged and loaded over 2,500 containers. The shipping line shows the 68,616-ton vessel as having been […]

ICTSI Ramps Up Business at Umm Qasr

By John Lee. Philippines-based International Container Terminal Services Inc. (ICTSI) has said it has increased its volumes by 12 percent over the past year, mainly due to the continuing volume ramp-up at its terminal at Umm Qasr port. The company inaugurated the first phase of its $130-million greenfield port development at Basra Gateway Terminal (BGT) […]