Legal experts warned that the Cochin Port Trust (CPT) may lose 26 acre of prime land at Bolgatty island if the lease holder raises loan against the land and fails to repay it. On July 26, 2011, the port authority leased out the land to a private developer by signing a lease deed. According to the deed, the lessee may seek permission from the port authority to raise loan against the la
Category: Ports & Shipping
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IIT recommends all weather port at Nagapattinam
The Indian Institute of Technology, Madras recommended the Tamil Nadu government to develop the proposed port at Nagapattinam as an Ăâall weather, deep water, direct berthing port. The state government would conduct the bidding process for the Rs 380 cr project based on reco
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Chennai port to adopt RFD to gauge performance
Chennai Port Trust (ChPT) decided to adopt Results Framework Document (RFD) in order to measure its operational performance instead of the current Memorandum of Understanding (MoU). The port would prepare a plan of action in 2013-14 based on the RFD for generating traffic based on clean cargo. The port would segregate capacity addition into three
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Kerala govt to complete work on national waterways soon
Minister of Ports for Kerala K Babu informed that his government complete the work on the national waterway from Kottappuram to Kovalam soon. Speaking on the sidelines of an event, the minister affirmed that the government was fully committed to the development of water transportation in the state. He said the state government gave utmost impo
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SCI, DCI, ports incur avoidable costs
The annual report of the union shipping industry shows that some organisations in the sector incurred an expenditure of about Rs 490 crore, which was avoidable. According to a government audit, pointed out in the report, Dredging Corporation of India (DCI) incurred Rs 165 crore cost owing to lack of professional handling of fuel consumption
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Rise in freight rates too less to improve margins
According to industry sources, the recent rise in the freight rates was too less to improve the margins of shipping companies and the rates may not improve significantly in the rest of 2013. The Baltic Dry Index, which measures cost of shipping bulk commodities, has risen from an average of 745
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NMPT gets 4 cruise vessels so far in FY14
So far in 2013-14, four cruise vessels called at the New Mangalore Port. These include two luxury cruise vessels - Ăâmv Legend of the SeasĂâ and Ăâmv Pacific PrincessĂâ. While the vessel Ăâmv Legend of the SeasĂâ came from Kochi, the vessel, Ăâm.v. Pacific PrincessĂâ, came from Phuket in Thailand
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PIL to operate mainline ship from New Mangalore Port
Tamilvanan, Chairman of New Mangalore Port Trust (NMPT) informed that Pacific International Lines (PIL) will operate a mainline ship from New Mangalore to Mombassa in Africa. The service will have calls at Karachi in Pakistan and Jabel Ali in the Gulf region enroute. The mainline ship Ăâ mv Kota Anggerik Ăâ will carry over 300 boxes, including empty containers to Mombassa in Africa from New Mangalore. The export cargo in the vessel includ
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CSL agrees to repair vessels of UTL
According to a Memorandum Of Understanding (MoU) signed by Union Territory of Lakshadweep (UTL) with Cochin Shipyard (CSL) the latter would repair the vessels of the former on a regular basis. LDCL will submit a tentative schedule for repairs of all their ships by November every year to CSL indicating the approximate schedule and repair duration of ships in the ensui
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Ministry lines up steps for shiphuilding sector
In order to promote shipbuilding industry, the union shipping ministry has lined up measures which include providing cheap loans to the firms, PK Sinha, union shipping secretary said. The shipping ministry has requested the finance ministry to give an interest subvention scheme for the shipbuilding industry as the sector grapples to attract com