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
Category: Ports & Shipping
Post
Post
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
Post
Ore shipment doubles in December
In December 2012, 11 major Indian ports handled a total of 1.89 million tonne of iron ore export cargo compared to 907,000 tonne in November 2012. This is a over 100 per cent rise in export of the steel-making raw material in December compared to the previous month
Post
Adani reportedly finanlises deal to acquire Dhamra Port
At a recent meeting with L&T Chairman AM Naik and Tata GroupĆās new Chairman Cyrus Mistry, Adani Group Chairman Gautam Adani finalised the deal to acquire Dhamra Port Company (DPCL) in Odisha, reports suggest. During the meeting, the terms and conditions of the deal, which involves acquiring stakes of the construction major Larsen & Toubro (L&T) and Tata SteelĆās stakes in DPCL, was finalised
Post
Chennai port wants govt to restore security nod for APSEZ
Chennai Port wants the government to revoke the cancellation of security clearance for Adani Ports and Special Economic Zone (APSEZ) to participate in the port's proposed Rs 3,686 crore container terminal project. Chennai Port plans to build a container terminal than can load 4 million standard containers a year when fully oper
Post
MPT awards Rs 3 bn project to Gammon Infra
Mormugao Port Trust (MPT) and Gammon Infrastructure finalised a 30-year concession agreement that gives the company the right to construct and operate a coal handling terminal at the port. Gammon would built the terminal at a total estimated cost of Rs 300 crore with a capacity of 2.33 million tonne per annum. Mormugao Port selected Gammon for the project as the latter offered a revenue share of 33.66 percent. JSW, whic
Post
Cargo volume at Mumbai Port rises 9%
During Apr-Dec 2012, Mumbai Port Trust handled 44 million tonne cargo compared to 40.2 million tonne in the year-ago period, which is a growth of 9 percent, the port authority said in a statement. Cargo handled during December increased to 5.2 million tonne from 4.6 million tonne for the same month in 2011. During Apr-Dec 2012, the port handled 45,776 Twenty Foot Equivalent Units (TEU) of container cargo, which is sam
Post
India Ratings suspends rating for Pratibha Shipping
The ratings of Pratibha Shipping was suspended by India Ratings as the former failed to provide adequate information on its current debt repayment and status of operations of its various vessels. In the absence of these information, the rating agency is unable to make an assessment of the com
Post
Centre receives plea to remove custom duty on ship breaking
Union Finance Minister P Chidambaram received a request from the Gujarat government to reduce custom duty on import of ships being brought for breaking from 5 per cent to zero. Gujarat Finance Minister Nitinbhai Patel put this request at the pre-budget meeting convened by Chid
Post
Gujarat govt signs 8 MoUs for port development
The Gujarat government signed eight memoranda of understanding (MoU) with the attendants of the sixth Vibrant Gujarat Summit- 2013 for development of the existing ports as well as converting them into environmental-friendly or green ports. These eight MoUs are part of the 63 agreements worth Rs 1 lakh crore that the state government plans to sign with the private players for the development of the stateĆās port