The firm with $4 billion of assets is keen to branch out from its Middle East base to play a larger global role as economic growth expands demand for shipping.

The funds will be used for 10 separate projects across five ports, including cargo route optimization, emission reductions, and trucking appointment systems.

The Port of Los Angeles processed 827,757 Twenty-Foot Equivalent Units (TEUs) in June, a 10% increase over the previous month

The cables were severed by the anchor of a cargo ship sunk by Iran-backed Houthi militants in late February.

June figures were down in part due to some vessel owners opting to unload or refuel at Malaysian ports to avoid delays.

The challenges posed by the narrow St. Lawrence Seaway have long stalled shipping traffic to the Chicago metropolitan area. 

Beryl slammed into Texas on July 8, causing widespread power losses. At least four LNG cargoes were cancelled during Freeport’s outage.

There are signs these sanctions are proving effective, at least in terms of disrupting tankers that had been moving Russian oil.

ILA president Harold Daggett says threat of October 1 strike growing more likely as current contract with USMX expires September 30.

Vizhinjam is expected to facilitate transshipment traffic into India as well as on the major routes connecting it to the U.S., Europe Africa and East Asia.