Sponge Iron Manufacturers Association (SIMA), in a pre-Budget memorandum, urged the government to raise customs duty on sponge iron to 10 per cent from the current level of 5 per cent in the union budget 2013-14. The association wants the government to raise duty in order to reduce the rising import of sponge iron. The indu
Author: admin (Infratructure Today)
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PwC India suggests tax benefits for oil & gas sector
PwC India has suggested the government to give some tax benefits to the oil and gas sector. Deepak Mahurkar, Leader Oil & Gas, PwC India recommended the government to make all petroleum sector transactions eligible for classical GST benefit. He proposed the government to include natural gas and coal bed methane in the 'mineral oil' category, in order to q
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Major ports witness fall in container cargo
During Apr-Jan 2012-13, cumulative container cargo volume at major ports declined to 6.43 million tonne (mn t) Twenty Foot Equivalent Units (TEU) from 6.52 million TEU in the year-ago period. This is a fall of 1.45 percent. The tonnage of containerized traffic was relatively flat at 100 mn t. The Port of Jawaharlal Nehru (Nhava Sheva), the countryĆās busiest container gateway, han
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Jawaharlal Nehru Port affected by union strike
The countryĆās largest container handling port, Jawaharlal Nehru Port, suffered considerably because of the two-day nation-wide strike called by central trade unions. The strike also affected the cargo operations at Mumbai, Kochi, New Mangalore and Vizag ports. However, the oil and other liquid terminals at these ports func
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VO Port to set up second container terminal
S Natarajan, Chairman of the VO Chidambaranar Port informed that the management plans to set up a 6 lakh Twenty Foot Equivalent Units (TEU) container terminal in order raise the cargo handling capacity of the port. The terminal project may cost Rs 312.23 crore and concessionaire would offer gross revenue share of 55.19 percent. This would be the second container terminal of the port
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COP orders new tug vessel
Goa's Captain of Ports (COP) has ordered a new tug vessel which is being built at the cost of 5.65 crore in order to replace the existing one. The new tug vessel is 12 metric ton bollard pull compared to the pulling capacity of only 4 metric ton bollard of the present vessel. The new vessel is being built at Mandovi dry dock in Pilgaon
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China allays fears of India on Gwadar Port
Chinese Ambassador to Pakistan, Liu Jian allayed fears of the Indian government about Pakistan handing over management of Gwadar Port to China. Speaking at a function, the ambassador said the transfer of management is in the economic interest of the peoples of China and Pakistan
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Ministry to announce stand on tariff regulation
Union Shipping ministry may soon announce its stand on the applicability of tariff regulation for existing cargo-handling projects, which could be the most critical aspect of the tariff deregulation plan at ports. Major ports and private firms running cargo terminals at these ports have been seeking freedom to set rates bas
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BTL launches new feeder service
Bengal Tiger Line (BTL) would initially launch a fortnightly feeder service between Marg Karaikal Port and Colombo. The service would be upgraded to weekly as volumes stabilizes, an official release from Karaikal Port said. In its first call, the vessel Tiger Bridge carried 1,900 Twenty Foot Equivalent Unit (TEU) cargo to Karaikal Port, whi
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CMA CGM hikes freight rates
Effective March 3, shipping firm CMA CGM decided to raise freight rates on its trade from northern Europe to India and Pakistan. The firm would raise the tariff by $150 per 20-foot dry container and $200 per 40-foot dry container. Effective March 15, the ocean carrier will hike rates from all Asian ports to the east and west Mediterranean and Black Sea by $65