• 2021 April 30 15:22

    The Arbitration Tribunal rules the dispute between DP World PLC and the Kingdom of Belgium

    The Antwerp Port Authority has taken note of the interim ruling by the Arbitration Tribunal of the International Centre for Settlement of Investment Disputes (ICSID) on the investment dispute between DP World PLC and the Kingdom of Belgium, according to the company's release.

    The ruling is nuanced and does not yet definitively settle the investment dispute. On the one hand, the Arbitration Tribunal considers that the decision of the Antwerp Port Authority to repossess an (unused) part of the concession of Antwerp Gateway (subsidiary of DP World PLC) in 2014 constitutes what is known as a partial ‘expropriation’ (‘repossession of an investment’) of this concession agreement within the meaning of the Bilateral Investment Treaty (BIT) between the Belgian Luxembourg Economic Union (BLEU) and the United Arab Emirates (UAE). An ‘expropriation’ is permitted provided that five cumulative conditions are met.

    As regards these conditions, the Tribunal finds that the decision by the Antwerp Port Authority to repossess was justified on the grounds of public interest, the procedure followed by the Antwerp Port Authority prior to the decision was legal, the decision by the Antwerp Port Authority was not discriminatory, and the decision did not conflict with the concession granted to Antwerp Gateway because domain concessions in the public domain are precarious in law and can therefore be withdrawn or modified in the public interest. In this sense, the Arbitration Tribunal is confirming the lawfulness of the policy decision taken by the Antwerp Port Authority.

    With respect to the fifth legality condition for a partial ‘expropriation’ within the meaning of the BIT, i.e. whether appropriate and realistic compensation was paid as compensation for the land reclaimed, the Tribunal is of the opinion that this should be tested in a subsequent phase of the arbitration process.

    In addition to the protection against the repossession of investments, DP World also invoked a number of other safeguards under the BIT. However, these claims were also rejected by the Arbitration Tribunal.

    The Antwerp Port Authority itself is not a contracting party under the BIT and is therefore not a party to the arbitration procedure either. However, the Port Authority did co-operate in the formulation and development of Belgium's defence in this matter. The Port Authority is convinced that the 2014 repossession decision safeguarded the port's international traffic and promoted (in)direct employment in and around the port area. Finally, the Port Authority emphasises the optimum collaboration and relations with DP World, one of the most important terminal operators at the port of Antwerp.

2021 June 21

18:26 The Port of València to eliminate one million plastic bottles
17:37 Elcome expands presence in Europe
17:06 Jan De Nul Group installs 72 wind turbines for the 604 MW Kriegers Flak wind farm
16:59 ICC Greenland joins the Arctic Economic Council
16:12 DNV completes successful concept verification review of Odfjell Oceanwind’s WindGrid™ floating wind power system
16:08 USCG conducts medevac 10 miles north of Manasquan Inlet, New Jersey
14:58 Port of Gdynia reports record high handling of liquid fuel
14:29 PortNews offers new edition of its magazine
13:10 Stena Line takes delivery of Stena Scandica
12:46 Average spot market price for Russian M100 product fell to RUB 22,767 pmt
12:03 KENC wins contract for design noise mitigation deployment system
11:45 State Customer Directorate announces competition for construction of 18-MW multifunctional rescue ship
11:29 Robust growth puts Inchcape Liner Division in pole position
11:13 Damen reaches major milestone in fully - electric tug project
11:01 CMA CGM announces FAK rates from the Middle East Gulf to North Europe
10:29 India to host Multimodal Logistics - Transport Summit on 29-30 September 2021
10:10 Port of Gdynia throughput in January-April 2021 rose by 6.7% YoY
10:00 Port Authority of Jamaica’s new Damen Utility Vessel 3911 arrives
09:47 MABUX: bunker indexes may rise on June 21
09:21 Oil market opens week with growing prices
09:07 Baltic Dry Index as of June 18

2021 June 20

15:12 Puerto Rico Ports Authority welcomes JAXPORT leadership to San Juan
14:32 10 consecutive months of positive year-over-year growth in the Port of Savannah
13:24 Fincantieri Marinette Marine team celebrates the keel laying of the LCS 31
12:08 IMO adopts key mandatory measures to reduce ships’ carbon intensity; establishes ship rating system
11:02 USCG invistigating allision between USS Cod and Coast Guard Cutter Morro Bay

2021 June 19

15:37 BIMCO welcomes updated IMO Compendium to advance electronic data
14:19 TradeLens digital shipping platform adoption grows in China
13:49 Bimco launches initiatives to address shipping’s plastic footprint
12:31 First cruise passengers of the year in Gothenburg go ashore in a bubble
11:23 Austal Australia delivers 11th Guardian-class patrol boat

2021 June 18

19:30 Royal IHC hands over the second cutter suction dredger to Suez Canal Authority
18:02 Consolidated cargo turnover of NCSP Group in 4M’2021 fell by 18.7% YoY
17:39 Safety management of Sparta IV complies with the ISM Code
17:15 Oboronlogistics' Sparta III allowed to sail in Northern Sea Route waters
16:47 Acceptance/delivery certificate signed for non-self-propelled suction hopper dredger of Project 4395 built for Kama Basin
16:14 BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts
15:51 FESCO opened seasonal transportation to the ports of Chukotka
15:30 CMA CGM to enhance its BSMAR service connecting Black Sea & Turkey with Morocco
15:22 Production of Icon of the Seas began at Meyer Turku shipyard
14:56 Wärtsilä signs multiple vessel support agreement with Nakilat
14:53 Multipurpose Reloading Complex puts into operation two new 5-cbm clamshell buckets
14:17 Singapore: Seven start-up grant recipients announced at launch of Smart Port Challenge 2021
13:48 The Lepse floating maintenance base no longer poses a nuclear threat to the Arctic
13:21 GLDD agrees to $1 million fine
12:59 Rosatomflot organized icebreaker escorting of LNG carrier Nikolay Urvantsev
12:54 Stena RoRo takes delivery of the lengthened vessel Stena Scandica from the Turkish shipyard
12:30 CMA CGM announces Overweight Surcharge from Asia to North Europe
11:45 Number of lock through operations on Russia’s IWW rose by 2.81%
11:02 ATLAS A-CLASS new WTIV tailored for large-scale Wind Farm Installations
10:38 Glavgosexpertiza of Russia approves project of in-depth modernization of Onezhsky Shipyard
10:02 CMA CGM announces Hazardous Surcharge from Asia to North Europe
09:53 Port of Oakland posts results for Jan-May 2021
09:40 Baltic Dry Index as of June 17
09:24 Oil prices continue decreasing
09:07 MABUX: bunker indexes may decline on June 18
08:59 DNV launches new digital EEXI Calculator

2021 June 17

18:37 PD Ports commended with top ‘Gold’ award for ongoing commitment to health and safety
18:07 Maersk advises logistics planners on hurricane season preparation
17:40 Trials of innovative smart navigation marker at Stockholm Norvik Port