Israel may invest US$6 billion in developing maritime sector over 50 years
Shlomo Breiman, CEO of Israel Ports Development and Assets Company (IPC) has called for the nation's ports to achieve an annual improvement rate of 2.5 per cent in a bid to more effectively compete with neighbouring ports.
The call made at the "port2port International Logistics & Transportation Conference" came amid forecasts that global container traffic will grow by more than 10 per cent annually, following the introduction of super massive containerships that have doubled the capacity of existing ships.
Mr Breiman pointed out that 98 per cent of Israeli trade goes through the ports, and that trade doubles every 10 years. This has prompted the Israel Ports Development and Assets Company to propose a US$6 billion master plan for the development of the Israeli maritime port sector over the next 50 years.
The government has not yet indicated which of the two main ports will get the lion's share of the funding. For Mr Braiman's part he is urging the government to take steps to speed up construction of future port infrastructure once a decision has been reached.
The call made at the "port2port International Logistics & Transportation Conference" came amid forecasts that global container traffic will grow by more than 10 per cent annually, following the introduction of super massive containerships that have doubled the capacity of existing ships.
Mr Breiman pointed out that 98 per cent of Israeli trade goes through the ports, and that trade doubles every 10 years. This has prompted the Israel Ports Development and Assets Company to propose a US$6 billion master plan for the development of the Israeli maritime port sector over the next 50 years.
The government has not yet indicated which of the two main ports will get the lion's share of the funding. For Mr Braiman's part he is urging the government to take steps to speed up construction of future port infrastructure once a decision has been reached.
