Kale Logistics Solutions which developed India´s first Container Digital Exchange- CODEX operational at Tuticorin Port, announced the launch of a Container Tracking Mobile App-CODEX for various container stakeholders operating at Tuticorin Port.

In what was arguably the most important foreign visit of the year for Prime Minister Narendra Modi, he signed a dozen deals with Iran. Emerging from decades of sanctions, Iran could soon be the most happening place for trade in the near future. Modi signed deals covering exchange visits by think tanks to a trilateral agreement between India, Afghanistan and Iran for a trade treaty to develop the Chabahar port.

Union Shipping Minister Nitin Gadkari has set an ambitious target of capacity addition at 12 major ports by 120 million tonne in 2016-17. These ports had added the highest-ever capacity of 94 million tonne in 2015-16.

Total cargo handled by major ports increased by 4.3 per cent to 606.37 mn t last fiscal as against 581.34 mn t in 2014-15, Parliament was informed.

At IRClass, in the last 12 months, we have seen growth in our top line. However, the global slump in oil prices, the dip in offshore productions, China´s slowdown, and India´s mining crisis, have inevitably resulted in pressure on industry revenue streams.

For a country of Indias size and complexity, where 95 per cent of trading by volume and 70 per cent by value is done through sea, it is very important to develop a sustainable maritime transportation system for economic growth and inclusive development.

Essar Shipping said its consolidated net loss narrowed to Rs.151.66 crore for the quarter ended March 31, 2016. The firm had posted a net loss of Rs.159.69 crore in the year-ago period, it said in a filing.

Centre will allocate Rs.2 lakh crore to Gujarat for the development of roads and ports during the next three years, Union Minister Nitin Gadkari has said.

The government will table a new Bill to facilitate a model agreement for PPPs in ports. ¨In the next two months, we will have a new model agreement, hopefully by June 30.