The Ministry of Corporate Affairs is discussing whether to extend exemption of Vessel Sharing Agreement (VSA) and Voluntary Discussions Agreement (VDA) from the purview of Competition Commission of India (CCI). It may be recalled that the ministry exempted these agreements from the purview of the fair trade for a perio
Author: admin (Infratructure Today)
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State govt mulls risk-proofing of PPP projects in ports
In order to ensure coastal security, the home ministry of Maharashtra government is reportedly planning to adopt risk-proofing in public private partnership (PPP) contracts for the development of these minor ports. According to the government plan, certain risk-proof clauses could be included in the PPP agreement on the lines of similar clauses in defence contracts to “ensure acco
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NITC charters vessel from Mercator
Reports suggest that Mumbai-based Shipping firm Mercator last month gave its vessel the Omvati Prem to the Iran-based National Iranian Tanker Company (NITC) on charter basis for ferrying crude oil to India. This is for the first time the state-run tanker company of Iran NITC chartered an Indian vessel cove
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CSLA cries foul on light dues
Industry body of shipping companies complain that the Light Dues charged by the Customs Department on containers carried on decks of ships docked in all the major ports raises costs of operation. Therefore, the Container Shipping Lines Association (CSLA) plans to request the Shipping Ministry to intev
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SCI raises container freight rates
Starting February 2013, Shipping Corporation of India (SCI) decided to raise the freight rate on container cargo by 300 per Twenty Foot Equivalent Unit (TEU). The company raised the rate for ISE Service (Indian Subcontinent to Europe) applicable for the shipments from Indian Sub-continent to Europe, Mediterranean, Black Sea & Red Sea
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Cost of proposed berth project set to escalate
Reports suggest that the cost of the proposed 330-metre container terminal berth project at Jawaharlal Nehru Port may exceed the original estimate of Rs 600 crore by Rs 300 crore. The berth will have the capacity to handle eight lakh Twenty Foot Equivalent Unit (TEU) per annum, which could be augmented to one million TEU, with better equipment and
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Maritime board struggles to sell 999 ton tanker
Maharashtra Maritime Board has been making efforts to sell a 999-ton crude oil tanker named MT Pavit for the last over six months, but in no vain. The ship, whose route is still unclear to authorities drifted to the Juhu beach over a year ago and as its owners were not coming forward, the maritime board had to ta
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Mumbai h’way’s 2-km stretch in Pune to be concretised
In Pune, a 2-km stretch of the Pune-Mumbai highway from Phugewadi to Dapodi will soon be concretised along all eight lanes. The stretch, which falls in the Pimpri Chinchwad Municipal Corporation (PCMC) limits, was widened earlier, but its concretisation work has not been completed. The PCMC has already concretised the 11-km highway stretch from Phugewadi to Nigdi.
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Early enforcement of Basel III may be challenging for banks
According to global ratings agency Standard & PoorÂ’s, the Indian banking system could face challenges in maintaining or raising capital ratios if Basel-III norms are implemented immediately. The agency said if the Reserve Bank of India decides to implement Basel-III norms immediately Indian banks could face a $3-4 billion (Rs 16,185-21,600 crore) capital shor
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Cairn India posts 48% rise in net profit
The consolidated net profit of Cairn India rose 48 per cent to Rs 3,344.9 crore in the October-December 2012 quarter from the year-ago period. The company announced a 38 per cent growth in consolidated revenue to Rs 4,277.6 crore during this perio