Tuesday, February 28, 2006

Saudi run US Ports

Pre-911 photo see the WTC in NY.NY. in background! and NSCSA=National Shipping Company of Saudia Arabia controls 9 US Ports since 1979....(HT to Sweetness & Light).

I think it is important to consider that National Shipping Company of Saudi Arabia (NSCSA) was established in 1979 to meet the transportation needs of Importers and Exporters in the Kingdom of Saudi Arabia and other countries in the Middle East and control 9 ports. This happend under President Carter.
Baltimore, MD
Halifax, Canada
Newport News, VA
Houston, TX
New Orleans, LA
St. John, Canada
Houston, Texas
Savannah, GA
Wilmington, NC
Port Newark, NJ
Brooklyn, NY
Foreign Port ownership increasing is increasing around the country per USA Today
"Besides raising security concerns, the debate over the Dubai deal has cast a spotlight on the increasingly prevalent foreign ownership of U.S. ports.
Stephen Flynn of the Council on Foreign Relations estimates that most port terminals across the nation are run by foreign interests.
In Los Angeles, port spokeswoman Theresa Adams Lopez says, foreign operations include Yusen Terminals Inc., a subsidiary of Japanese shipping giant NYK Line, established in 1885.
The Port of Seattle has five container terminals. Three are run by U.S. companies, one is managed by a South Korean company, and the fifth is managed by a company partly owned by the Singapore government.
The Port Authority of New York and New Jersey owns five primary cargo terminals, three of which are run by foreign firms. The terminal that would be run by the Dubai-based company is operated in conjunction with a Danish firm. The terminal is leased to the two companies and is five years into the 30-year lease, port authority spokesman Steve Coleman says. The other two main cargo terminals in New York and New Jersey are run by the same Danish firm and by a Hong Kong-based company.
Loy says it's all an inevitable part of a global economy. "The notion that we should not have our ports operated by foreign companies is ludicrous, and indicates someone is not understanding how the global marketplace works today," he says.
Meanwhile, U.S. exporters have worried about possible trade retaliation if the UAE deal is blocked. U.S. shipping companies also have concerns.
Bob Waters, vice president of SSA Marine, the largest U.S.-owned marine terminal operator, said his company has not seen any signs of retaliation at its sites abroad. The Seattle-based company has operations in 150 ports worldwide.
"We haven't seen any indication of that yet," Waters says. But "is there a concern? Sure."
Dominos Vobiscum


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