The Port of Colombo has been operating near its capacity since 2021, meaning the new terminal will enable the continued growth of economies located in the Bay of Bengal.

Those interviewed said they expect a rebound during the second half of 2024 with half of the participants saying they believe freight volumes will increase by 5% during that period.

ONE now has a presence in Northern Europe, Southeast Asia and the West Coast of the U.S. following these recent acquisitions.

Officials for the Biden administration said the projects will allow ports to meet increased shipping demands while improving worker safety and lowering costs for consumers.

The agreement is set to be ratified by employees in the coming days, but workers are set to return to work on the morning of October 30.

Negotiations between the sides broke down during the weekend of October 21, which led to about 360 workers walking off the job shortly after midnight on October 22.

Despite the rises in monthly volumes, the total for the first nine months of 2023 was 6,398,126 TEUs, an 18.6% decrease from the same period last year.

At a forum held during the 2023 Belt and Road Forum in Beijing, China, PM Kakar said that the country has already operationalized its deep seaport of Gwadar.

At least one shipping line has said that maritime operations have been normal at the Port of Ashdod as of October 9.

The case involves work slowdowns and stoppages at the Pacific Northwest during labor confrontations more than a decade ago.