The latest Umm Qasr Business News – new Kuwaiti port, Mubarak, Umm Qasr, Iraq – Kuwait / Iraq disputes and more – brought to you by Iraq Business
By John Lee. UK-based international law firm Clifford Chance has announced that it has advised International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA) on the US$125 million financing of the development, construction, equipping and operation of both new and existing facilities at the Umm Qasr Port in Iraq. In a press release, the […]
By John Lee. Basra Gateway Terminal (BGT) has announced that it has recently handled its three millionth TEU (twenty-foot equivalent unit shipping container). The milestone was achieved during the handling of Evergreen's Ever Uranus and coincided with BGT's seventh year of operations. Basra Gateway Terminal (BGT) is a subsidiary of International Container Terminal Services (ICTSI), which is […]
By John Lee. Two oil tankers owned by the State Company for Maritime Transport (SCMT) have been transferred from Jordanian registration to registration in the Iraqi port of Basra, following the lifting of sanctions. Iraqi Transport Minister, Captain Nasser Hussain Bandar Al-Shibli [Captain Nasser Hussein Bandar Al-Shibli], raised the Iraqi flags on the vessels, the […]
By John Lee. ASYAD Group has announced that it has launched the first shipping line between Oman ports (Salalah, Duqm, Sohar) and Iraq's Umm Qasr Port. According to the company, the new weekly service will open up new investment opportunities between Oman and Iraq, and provide options for import and export between the two countries […]
Prime Power Middle East (PPME), a wholly owned subsidiary of Prime Metro Power Holdings Corporation, has commenced operation of its power plant in Umm Qasr, Basra. The power plant started its commercial operation last Sunday, 09 February 2020, and is designed to deliver base load of 24/7 power to the Umm Qasr Ports Authority Zone. […]
By John Lee. The entrance to Umm Qasr port has reportedly been reopened on Friday after security forces dispersed protesters. According to Reuters, the port had been blockaded since Monday. (Source: Reuters)
By John Lee. Operations have reportedly resumed at Umm Qasr port on Saturday. According to Reuters, all terminals were operating again, having been halted for nearly 10 days by protesters. (Source: Reuters)
By John Lee. Protesters have reportedly blocked the entrance to Umm Qasr port, near Basra. According to Reuters, port operations were reduced to 20 percent as workers were unable to get to work. (Source: Reuters)
International Container Terminal Services Inc. (ICTSI) has formally inaugurated two new berths which for the first time offer the port of Umm Qasr, Iraq’s main dry cargo port, the ability to handle container vessels of up to 14,000TEU. The inauguration ceremony marked both the opening for business of the two new berths, Berths 25 and […]
By John Lee. Shares in Philippines-based International Terminal Container Services Inc. (ICTSI), which operates the Basra Gateway Terminal (BGT) (pictured) at the port of Umm Qasr, have closed up more than 6 percent on Wednesday following a strong set of results. The company said in a statement: "Net income attributable to equity holders of US$128.5 […]
By John Lee. The Iraq Container Terminal (ICT) at Umm Qasr Port has reportedly handled container traffic of two million twenty-foot equivalent units (TEUs) since operations started less than nine years ago. According to Hellenic Shipping News, the joint venture between UAE-based Gulftainer and the General Company for Ports of Iraq (GCPI) started operations at […]
By John Lee. Philippines-based International Terminal Container Services Inc. (ICTSI) has reportedly allocated additional funds for capacity expansion at its Basra Gateway Terminal (BGT) at the Port of Umm Qasr. Rafael Consing, ICTSI chief financial officer, is quoted by the Philippine Daily Inquirer as saying that this year’s capex budget of $380 million will be […]
