Crude Awakening
By admin • Jul 6th, 2008The service isn’t necessarily for the time-pressed shipper – the round trip took 25 days at launch – but a tangible sign nonetheless that commercial ties are strengthening.
The US Army Corps of Engineers have been working to help improve the services of the Iraqi berths at Umm Qasr to handle cargo flows in and out of the country and around $14 million is being spent on expanding the port’s capacity – and installing security measures – to keep up with projected demand. A second “roll-on and roll-off” berth is coming up, about twice the size of the existing one, which will help reduce vessel congestion.
Optimism is just as evident in the air, with Iraq signing a $5 billion deal in Baghdad with Boeing and Canadian plane maker Bombardier for 50 new aircraft in May. The first part of the order of 10 Bombardier CRJ900 planes is expected this summer, with the rest spread out over 2008 and 2009.
