Sri Lanka Ports Authority (SLPA) and the Government Sri Lanka have granted exclusive rights to Hambantota International Port Group (HIPG) for the development, operation, and management of Hambantota Port, which is currently in its third phase of development in Sri Lanka.
The 99-year concession agreement also involves Hambantota International Port Services Company (HIPS), which has obtained the sole and exclusive rights to develop, operate and manage the port's common user facilities.
The China Merchants Port Holdings Company (CMPort) has finalised the new concession terms and also agreed to invest up to $1.12bn to develop marine-related activities at the port.
Shanghai Zhenhua Heavy Industries has secured a contract for two new gantry cranes from Port of Felixstowe, a member of Hutchison Ports, UK.
The cranes will be delivered in February 2018 and increase the number at the port to 12, being deployed at the Berths 8 and 9.
Danish shipping company TORM has signed a deal to purchase four new fuel-efficient MR resale vessels from Guangzhou Shipyard International (GSI).
The deal also includes an option for four additional MR vessels, with the current order scheduled for delivery in 2019.
Ports of Stockholm has awarded a $70.3m contract to Royal Boskalis Westminster (Boskalis) for the construction of a quay wall in Stockholm Norvik Port, Sweden.
The contract covers construction of a 1,100m quay wall with depths ranging between 16.5m and 10.5m. Boskalis will use heavy precast concrete elements to construct a part of the quay wall.