UK banks hold sufficient capital to cope with no-Brexit and Trump trade war, BoE says 

Hitachi commences sale of $5.6 billion chemical unit 

Cybersecurity firm McAfee’s IPO could raise at least $1 billion: Reports 

Hitec Vision, Oman’s Petrogras to acquire Total’s British North Sea oilfields for $635 million


Kenya to begin operations at Lamu port by December

Kenya Lamu Port

The port will receive its first ship call from Maersk line

Kenya recently announced that the newly build Lamu Port will be operational from December 2019. The port will receive its first ship call from Denmark’s Maersk, which happens to be the world’s largest container shipping company.

The port in Lamu, Kenya is being constructed by China’s Communication Construction Company. While the development of the first berth was completed earlier this year, the remaining two berths are expected to be completed by the end of 2020.

Once the project is fully completed, the port will have the capacity to handle 20 million twenty-foot equivalent units. The project is a part of the Sh2.5 trillion Lamu-South Sudan-Ethiopia Transport Corridor (Lapsset), which was flagged off in 2012.

Last month, as a part of its marketing strategy to promote the port, the Kenya Ports Authority invited shipping lines to tour the Lamu port. Around 10 shipping lines agreed to visit the port and took a tour of the facility.

Not only that, the Kenya Ports Authority offered promotional tariffs to logistic companies which includes a 30 days free storage period for transshipment and transit cargo, 14 days free storage period for domestic cargo and a 40 percent discount for cargo-based charges as per the Kenya Ports Authority’s tariff.

Back then, Edward Kamau, general manager corporate services at the Kenya Ports Authority told the media, “We are taking the shipping lines to Lamu to see and appreciate the facility and infrastructure that is being put in place ahead of commissioning.”

He added, “We also want them to understand what is expected of them once we commence operations at the new port.”

Leave a Comment