News in Numbers

India’s government has approved the development of an INR762bn ($9.1bn) port in Maharashtra in western India. The port would be one of the biggest in the world when it opens, with an annual capacity of 298 million tonnes.

The EU has announced more than €7bn ($7.6bn) in grants supporting transport projects as part of its Connecting Europe Facility (CEF), with a primary focus on addressing climate change and encouraging sustainable travel.

South Africa’s troubled national logistics and freight company Transnet has received a boost in its business recovery plan after securing a $1bn loan from the African Development Bank Group, fully guaranteed by the South African government,  to support the first year of its capital investment plan.

Port and logistics company DP World is investing $540m into two of its ports in Peru and Ecuador, as it looks to strengthen its capacity in the Latin America region. 

Danish tanker shipping company Torm has increased its fleet after purchasing eight second-hand Medium Range vessels in a €340m ($371m) agreement. The operator will bring its total fleet size to 96 vessels with the deal, which was announced alongside the sale of one of TORM’s other MR vessels for $23.3m.