Domestic shipping companies expressed satisfaction with the Union Budget 2013-14 as it announced some tax sops for shipbuilders and import of ships. The budget removed the countervailing duty (CVD) on imported ships since most Indian shipping companies get their vessels manufactured outside the country. Further, the budget also removed the excise duty on the
Category: Ports & Shipping
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Green ports: A long way off
Sustainable development of ports paradigm is gaining momentum, albeit slowly among Indian ports. But to speed up the movement, a holistic approach with suitable legislation, more driving forces, incentives and involvement of all stakeholders are essential
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The progress is in the right direction
Government need to make sure that steps are taken in the right direction to reduce the carbon emissions and introduce incentives for the ports as well as shipping companies so that they are encouraged to work towards a cleaner environment,
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JNPT for Rs 20 bn bond issue
Securities and Exchange Board of India (SEBI) received a request from the Jawaharlal Nehru Port Trust (JNPT) to allow it to raise a maximum of Rs 2,000 crore through tax free bonds. The prospectus says the JNPT would garner up to Rs 500 crore with an
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Major ports suffer `1 bn loss due to strike
Major ports in the country have reportedly lost Rs 100 crore owing to the two-day nationwide strike by labour unions recently. The port workers participated in the strike called by various central trade unions to protest the 'anti-people policies' of the
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Vizag Agriport awaits project
Vizag Agriport hopes to secure the Rs 217.58 crore fertiliser terminal mechanisation project from the Visakhapatnam Port Trust (VPT) by March. VPT signed a 30-year concession agreement with Vizag Agriport in May last year for mechanisation of East
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KoPT to shortlist bidders
Kolkata Port Trust (KoPT) is likely to shortlist the interested bidders for the Rs 1,500-crore, 1.2 million TEU container terminal project at Diamond Harbour on March 15.
It may be recalled that the port earlier extended the pre-bid application deadline to
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Cargo handling up at NMPT
Cargo handling at the New Mangalore Port Trust (NMPT) rose 12.93 per cent to 33.61 million tonne (mn t) during April-February of 2012-13 as against 29.76 mn t in the year-ago period.
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Essar port in Mozambique
The Essar Group is planning to set up a 10-million tonne (mn t) port in Mozambique, at a cost of $275 million (Rs 1,496 crore). This port will facilitate exports from Zimbabwe Iron and Steel Company (ZISCO), a Zimbabwe-based company it acquired in 2010.
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VOC Port setting up 2nd container terminal
VO Chidambaranar Port at Tuticorin is converting its eighth berth into a container terminal with a capacity to handle six lakh TEUs at a cost of Rs 312.23 crore.