![]() Since then, Gulftainer has invested $88 million to repair the port’s eight berths, road infrastructure and warehouses while also installing additional crane rail, so that ship-to-shore cranes now run the length of the berths. ![]() ![]() Gulftainer, the world’s largest independent port operator, took over the Port of Wilmington in October 2018 after striking a 50-year lease deal with the state entity that previously ran the port, Diamond State Port Corp. GT USA Wilmington CEO Joe Cruise addresses an EU panel at the Port of Wilmington in October. Despite the financial pressures, Gulftainer is seeing steady shipments coming to the port with trade revving back up – Wilmington saw its first day of full workforce and full berths since the pandemic began within the last few weeks. The local subsidiary of Emirati-based Gulftainer has reportedly faced cash flow deficits, forcing it to obtain a $10 million infusion from shareholders this year, according to the News Journal. At the Port of Wilmington, the ships aren’t stacked up in the Delaware River, but the operator of the nearly century-old port hasn’t escaped unscathed either. That supply chain crisis has led to increased product price inflation and delivery delays to consumers and companies around the world. WILMINGTON – Following the onset of the COVID-19 pandemic, ports around the world have been beset by workforce shortages, unacquired cargo stacking up in storage yards and transport ships lining the ocean awaiting their turn to be unloaded. The Port of Wilmington has seen an uptick in cargo during the supply chain crisis as shippers search for smaller ports to utilize.
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