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Transnet Reviews Options

In the News Today: Transnet yesterday said it was evaluating its options following a court ruling, which halted a major partnership deal worth more than R12 billion with the Philippines-based International Container Terminal Services International (ICTSI) for the upgrade, expansion, and operation of Durban’s Container Terminal Two (DCT2).

This comes after the Durban High Court yesterday granted APM Terminals, a subsidiary of the Danish shipping giant Maersk and one of the losing bidders for the contract, partial relief in its challenge against Transnet’s decision.

The interdict prevents Transnet from proceeding with any actions related to the awarded tender, effectively pausing negotiations or the conclusion of any contracts with ICTSI or other parties, until a…continue reading HERE.

In the News Today: A Durban High Court judgment handed down on Wednesday has halted Transnet’s planned upgrade of Durban Container Terminal Pier 2 (DCT2).

The upgrade involved the appointment of a private-sector equity partner to handle the expansion and manage the operations of DCT2.

Transnet had awarded the contract to Philippines-based company International Container Terminal Services Inc (ICTSI).

APM Terminals, a subsidiary of the Danish shipping giant Maersk and one of the losing bidders for the contract, took the matter to court and an interim interdict was granted on Wednesday in its favour.

The interdict prevents Transnet from proceeding with any actions related to the awarded tender, effectively pausing negotiations or the conclusion of any contracts with ICTSI… continue reading HERE.

Festivals: Various cultural festivals are celebrated in Durban, showcasing its rich heritage, such as the Durban International Film Festival and the uShaka Marine World Festival.

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