• 2019 January 11 17:30

    UPM is tendering for a pulp terminal in Montevideo deep sea port in Uruguay

    UPM is taking part in the international public tendering process in the port of Montevideo organized by the National Ports Administration (ANP) of Uruguay, the company said in its release. The scope of the concession tender is the building and operation of a port terminal specialized in the storage and shipping of pulp, chemicals and other inputs related to pulp production with a capacity to handle approximately 2 million tonnes of pulp annually. The tender includes the design, financing, engineering, construction, operation and maintenance of the pulp terminal. The tenure of the concession would be for 50 years.

    Port development, supporting an efficient and reliable outbound logistics, is a key fundamental for the potential installation of the third pulp mill in the country. Modern facilities in the Montevideo deep sea port would offer a competitive gateway from South America to growing export markets benefiting the Uruguayan economy.

    The tender is made in the context of UPM's current study on the potential of building a new pulp mill in Uruguay. The investment agreement with the Government of Uruguay was signed in 2017. As part of the agreement the Government will promote concession for a terminal specializing in pulp in the Montevideo port with rail access. The possible pulp mill would have an annual capacity of approximately 2 million tonnes of eucalyptus market pulp. The preliminary estimate for a pulp mill investment on site is approximately EUR 2 billion.

    Two preparation phases need to be successfully completed before UPM would be in a position to make a final investment decision on the pulp mill. The second preparation phase is currently proceeding. Achieving significant progress in the implementation of the agreed infrastructure initiatives by the Government of Uruguay and any relevant items are to be agreed prior to the possible final investment decision. If these two preparation phases are concluded successfully, UPM will initiate the company's regular process of analysing and preparing an investment decision.

    If awarded a concession in the Montevideo port, UPM's financial commitment in the form of a performance bond would be USD 20 million at this stage. At the time of the potential final investment decision on the pulp mill project UPM would proceed with the port investment decision and start of the construction of the port facilities. The preliminary UPM investment estimate for the port facilities would be approximately USD 260 million.

    UPM is not in a position to disclose further information of the tendering process at this stage.




2019 March 23

16:03 NCL announces plans for new staff training facility
15:54 ABP Humber provides land to support KIA expansion
14:22 SeaPlanner to support marine coordination for Taiwan's Formosa I offshore wind farm
13:31 Høglund awarded fuel-gas supply systems contract for six Hurtigruten passenger ships retrofits
12:25 McDermott secures substantial offshore EPCI contract in the Middle East
11:21 MacArtney provide Active Heave Compensated MERMAC winch solution to Alcatel Submarine Networks for planned subsea offshore operations

2019 March 22

18:06 GE and Nedstack enter into a partnership to develop hydrogen fuel cell power systems for cruise vessels
17:57 Fitch affirms Deloports rating at 'BB-' with stable outlook
17:36 Samsung Heavy Industries receives a LNGC order
17:05 Maritime Union of Australia issues notice of legal rolling industrial actions at DP WORLD terminals in Australia
16:44 NATO allied nations from last year’s NATO Summit to attend Unmanned Maritime Systems Technology 2019
16:44 Maersk partners with global companies to trial biofuel
16:22 15th edition of Expomaritt Exposhipping Istanbul to be held 2-5 April 2019
16:05 Dutch Sustainable Growth Coalition partners with Maersk in world's largest maritime biofuel pilot
15:30 Hapag-Lloyd announces 2018 results
14:03 ONE unveils enhanced intra-Asia –East India service network for 2019
13:54 Royal IHC to build second TSHD for National Marine Dredging Company
13:41 IMO expands collaborative efforts to promote maritime security
13:17 REMPEITC-Caribe training workshop funded by IMO held in Guyana
12:55 Workshop promoting good practice in spill preparedness and response held in Côte d'Ivoire
12:30 Bunker prices go up at the port of Saint-Petersburg, Russia (graph)
12:03 18 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on March 21-22
11:42 Gazpromneft – Lubricants starts bunkering with marine oils in Primorsk
11:08 MSC Bellissima, MSC Cruises’ latest newbuild visits Valletta Cruise Port
10:50 Maritime Incubator to be established at the Port of Gdansk
10:49 MABUX: Bunker market this morning, Mar.22
10:29 Baltic Dry Index is down to 695 points
10:08 ZIM net loss up to $119.9 million in 2018
09:51 Brent Crude futures price is down 0.21% to $67.72, Light Sweet Crude – down 0.23% to $59.84
09:23 Manufacturing at the Port of Riga beneficial for both businesses and the Port
09:08 DEME Offshore announces Moray East wind farm Tier One suppliers
08:32 Rhenus establishes its own network in South Africa by acquiring World Net Logistics

2019 March 21

18:05 Dublin Bay Biosphere to host international UNESCO EuroMAB Conference
17:53 Detachment of RF Navy’s Northern Fleet completed transfer through the Suez Canal
17:28 McDermott awarded ethylene contract in Russia
17:05 IMO and Saudi Arabia organize course for members of three key regional maritime security agreements to promote maritime security
16:35 Topaz secures contract extension with BP for 12 vessels in Azerbaijan
16:05 Incat announces construction of a 35m Catamaran Passenger Ferry for Samso Rederi
15:52 Kalmar's Eco Reachstackers and Empty Container Handlers to help Ter Haak Group Amsterdam improve the sustainability of its operations
15:31 Severnaya Verf lays down second processing trawler of Project 170701 for Norebo Holding
15:08 German shipyard Lürssen launches project Fiji yacht named Madsummer
14:39 GoodFuels and REINPLUS FIWADO Bunker fuel first inland vessel on 100% sustainable biofuel
14:13 Incat Crowther 35m ferry for Samso Rederi
13:55 Nuclear-powered container carrier Sevmorput on her first voyage under Arctic LNG 2 project
13:24 Andrei Chibis appointed Acting Governor of Murmansk Region
13:17 Coast Guard continues to break ice on Penobscot River to start on the Kennebec River
12:40 Murmansk Region Governor announces resignation
12:00 Steel cut for first short-sea LNG bunker vessel for Eesti Gaas at Damen Yichang Shipyard, China
11:39 15 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on March 20-21
11:13 Bunker prices go down at the Far East ports of Russia (graph)
10:50 Doha to host Ports & Maritime Evolution, Rail & Logistics Evolution, Road & Logistics Evolution Qatar Assembly & Expo in September’19
10:27 Brent Crude futures price is up 0.16% to $68.61, Light Sweet Crude – up 0.02% to $60.24
10:08 MAN receives an order for two-stroke engines from Eastern Pacific Shipping
10:05 MABUX: Bunker Market this morning March, 21
09:59 2018 revenues of FSUE Rosmorport grew by 7% Y-o-Y to over RUB 26 billion
09:22 Baltic Dry Index is down to 709 points
09:08 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
09:00 PSA, PFR and IFM investors partner to jointly acquire the deepwater container terminal Gdańsk from Macquarie infrastructure and Real Assets, MTAA SUPER, AustralianSuper and Statewide Super
08:36 Port Canaveral starts construction of new Cruise Terminal 3 complex
07:58 SeaKing Electrical completes DFDS ferry upgrades in France