Cranes hoist Lebanon economy as Syrian war helps Port: Freight

Bloomberg

“Compared to the many negatives of what’s happening in Syria and the impact on the Lebanese economy, the increase in port activity is one of the positive consequences,” said Jihad Azour, a former Lebanese finance minister who’s now vice president of advisory firm Booz & Co. in Beirut.

The port, which services carriers including AP Moeller-Maersk A/S, the world’s largest container line, Mediterranean Shipping Co SA and CMA CGM SA, saw a 24 percent jump in revenue during the first six months of this year from 2012, according to its website. International Port Management, the group overseeing the company running the terminal, will complete an expansion by November, lifting capacity by as much as 60 percent.

Source: Bloomberg Businessweek FULL STORY