Mumbai Port will undergo massive expansion by 2012

THE Mumbai Port Trust (MPT) is expected to award a contract to build an INR1, 228 crore (US$275.2 million) offshore container terminal that would add 15 million tonnes capacity annually, to a consortium led by Gammon India. The consortium is said to have been the highest bidder for the project which is earmarked for completion in three years on build-operate-transfer (BOT) basis.The development of a second container terminal at the Port of Mumbai will be constructed in two phases, with the first phase adding 800,000 TEU, and the second phase 400,000 TEU. The BOT operator is expected to invest INR866 crore in the project and the remaining funds would be covered by the port trust. The building of the offshore box terminal is a key feature of the port's INR2,500 crore expansion plan that would double MPT's handling capacity to 90 million tonnes by 2012 to cope with rapid trade growth in recent years.

Shanghai port moved 20% more boxes in 2006

Shanghai, China's busiest container harbour, moved 20% more containers last year. Port volume rose to 21.7 million 20-foot standard boxes in 2006 and total cargo handled increased 21% to 537.4 million tons. Exports to the US and other overseas markets have made Shanghai the world's third-largest container port after Singapore and Hong Kong. Shanghai handled 1.92 million containers in December 2006, a 23.2% increase from a year earlier. Cargo volume rose 19% to 46.4 million tons.

Dubai growing strong as trading hub for the region…

Dubai customs increased the number of bills it processed by 21.6 per cent in 2006 as the second –largest sheikhdom in the UAE. Transactions increased to 3.52 million in 2006 from 2.89 million the year before. The UAE is diversifying its economy away from oil and gas industries, which make up 60 per cent of government revenue. Its exports to neighbouring Persian Gulf states leapt 49 per cent last year. Trade excluding oil through Dubai's tax free zones, increased 13 per cent in the first nine months of 2006 The Gulf Cooperation Council is made up of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain.

- Extract from Bloomberg