CMA CGM halts timber exports from Gambia due to suspicious rosewood trade

 DP World will soon be finalising agreements on the construction of a new port and economic zone in Dakar, Senegal, which will develop the capital into a major logistics hub and gateway to west and north-west Africa.The announcement was made in Abu Dhabi following a meeting between Macky Sall, president of Senegal; and Sultan Ahmed bin Sulayem, group chairman and CEO of DP World.

Mansukh Mandaviya, minster for shipping, informed on Wednesday that the cabinet chaired by Prime Minister Narendra Modi approved the new ‘Major Port Authority Bill 2020’ that will give independent decision making power to all 12 major ports in the country.The port will have a corporate style management structure and will be free to fix port charges.The bill that is all set to be introduced in the current session of parliament will replace the 'Major Port Trusts Act, 1963'.

The new law aims to ease settlement of disputes among port users, speed up decision making in land acquisitions and tariff changes, minimise operation and maintenance (O) cost, increase exports from the country and make Indian ports competitive in international markets with new technologies.“Under the 60 years old existing act, all major ports has to approach the government and related regulatory authorities to take even the smallest decision which tampers the operations and existence of state owned ports, particularly when they want to compete with private ports,” said Mansukh.