Maersk and Vale Secure Space at Ningbo-Zhoushan

first_imgzoom Chinese Ningbo-Zhoushan port and shipping conglomerate A.P. Møller Mærsk Co have signed an agreement to expand cooperation and accelerate joint development projects.According to the agreement, the port and Maersk will establish comprehensive strategic cooperative partnership and deepen cooperation mainly in port-shipping business, terminal operation, logistic projects, personnel training and communication.The port said that it will be appointed as the key transfer and distribution center for Maersk Line in Northeast Asia. The parties will jointly operate No. 3 to No. 5 berths of Meishan Phase I container terminal project, and establish all-round cooperation in logistics by setting up Maersk logistic base in the port.Image Courtesy: Ningbo-Zhoushan portAdditionally, Ningbo-Zhoushan port and Brazil-based mining company Vale have decided to further extend their cooperation in iron ore logistics as the company plans to start using the port’s Beilum ore terminal for its ore blending operations from March 2016.The move comes in the light of Vale’s recently conducted site inspection at the Beilun ore terminal, as the company plans to start doing business at the port’s Shulang Lake ore transfer terminal as soon as it qualified for ore blending.Through their cooperation, the company and the port, which owns 3 of 7 berths in four ports able to receive and berth 400,000-dwt ships, should provide loading and unloading of ore, storage and bonded warehouse, ore blending and distribution businesses.Vale projects that its production capacity will increase to 450 million tons by 2018, while the company’s annual export to China has exceeded 200 million tons.last_img read more

Most actively traded companies on the TSX

Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (14,450.69, down 52.98 points):Newmarket Gold Inc. (TSX:NMI). Miner. Up five cents, or 1.19 per cent, to $4.25 on 36.9-million shares.Ivanhoe Mines Ltd. (TSX:IVN). Miner. Down 13 cents, or 6.53 per cent, to $1.86 on 28.9-million shares.Teranga Gold Corp. (TSX:TGZ). Miner. Down four cents, or 2.94 per cent, to $1.32 on 25.9-million shares.Spartan Energy Corp. (TSX:SPE). Oil and gas. Down seven cents, or 2.13 per cent, to $3.21 on 14.9-million shares.Argonaut Gold Inc. (TSX:AR). Miner. Down 18 cents, or 4.69 per cent, to $3.66 on 12.8-million shares.Centerra Gold Inc. (TSX:CG). Miner. Up 25 cents, or 3.50 per cent, to $7.39 on 12.3-million shares.Companies reporting major news:BlackPearl Resources Inc. (TSX:PXX). Oil and gas. Up nine cents, or 7.26 per cent, to $1.33 on 696,848 shares. The developer of a multi-billion dollar oilsands project says approval announced Thursday by the Alberta government is critical to raising money or finding a partner with deep pockets to go ahead with construction. CEO John Festival of BlackPearl Resources says he is relieved after receiving official endorsement for the 80,000-barrel-per-day Blackrod project more than four years after filing an application in May 2012. Analysts estimate the first 20,000-barrel-per-day phase at Blackrod will cost about $800 million to build and Festival says that number is in the ballpark. Detailed estimates will come if the project is approved in future. by The Canadian Press Posted Sep 16, 2016 3:05 pm MDT Last Updated Sep 16, 2016 at 4:00 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Most actively traded companies on the TSX read more