Israel opens China-operated Haifa port to boost regional trade links (Video)
Thursday, September 2, 2021 | Tag Cloud Tags: China, Israel, Jerusalem, News, Trade, Worthy News, WorthyNews | Learn about out FREE SYNDICATION
(Worthy News) – Israel has opened a new shipping port along its Mediterranean coast that will bring much-needed competition to a sector plagued by delays and boost the country’s standing as a regional trade hub.
The NIS 5.5 billion ($1.7 billion) Bay Port at Haifa, which will be operated by Shanghai International Port Group (SIPG), will enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel.
The country is selling its state-owned ports and building new private docks in an effort bring down costs and cut above-average wait times for vessels to unload. About 99% of all goods move in and out of Israel over sea and an upgrade is needed to maintain economic growth. [ Source: Jerusalem Post (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.