Some investment analysts expect Shipping Corp. of India (SCI) to incur losses in 2012-13 too because of depressed freight rates and a slowing global economy. The slowdown in world economy reduces trade and thereby hurts business prospects of shipping firms. In the quarter ended September 2012, the company posted a net profit of Rs 297 crore mainly because of an extraordinary item
Category: Ports & Shipping
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New charges offset concessions for vessels
According to industry sources, the levy of Indian Light House charged by the Kochi Customs’ may offset some concessions now being offered by the port management to attract more vessels. Recently, Kochi Customs decided to collect Indian Light House dues for on-deck cargo on all vessels calling at the port effectively nullified the tariff reduction measure of the port
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Bangladesh gets investment proposal from UAE
Bangladesh received proposal from the United Arab Emirates to invest in four multi-billion-dollar projects in the shipping sector in the country. Bangladesh government is said to be positively considering the proposal. The projects also include development of a deep-sea port at Sonadia for which China and India have expr
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Ramayapatnam port project faces land issue
Andhra Pradesh government has reportedly rejected the claim made by Krishnapatnam Port that the proposed Ramayapatnam port project cannot be set up at an exclusive zone of 100 km radius. Sunil Sharma, Ports Secretary of Andhra Pradesh is quoted as saying by a leading media that there was no such thing as an exclusive zone of 100 km radius for Krishnapatnam Port. He clarified that the proposal to set up R
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Ministry allows Adani, Essar to bid for terminal project
Weekly Insight learns from top government sources that Adani Ports and Essar Ports received approval from the union home ministry to participate in the 4,000-crore mega container terminal project in Chennai Port.Chennai Port plans to set up a mega container terminal, with a capacity of 4 million TEU (Twenty foot-equivalent units). The proposed terminal has been envisaged as the large
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SCI posts net profit in Sept quarter
Extraordinary realisation helped Shipping Corporation of India (SCI) post a net profit of Rs 297.26 crore in the quarter ending September 30, 2012 against a net loss of Rs 1
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Vizag Port’s proposed berth project may cost Rs 4 bn
According to media reports, the proposed second container berth project at Visakhapatnam port may cost
Rs 3
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Adani Ports to expand AHCT
Adani Ports and SEZ plans to expand the operating envelope at its newly commenced Adani Hazira Container Terminal (AHCT) at Adani Hazira Port (AHPPL) in the
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Essar Shipping swings to profit in Apr-Sep 2012
During Apr-Sep 2012, Essar Shipping posted a net profit of Rs 18 crore compared to a loss of Rs 66.8 crore in the year-ago
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Net profit of GE Shipping triples
During July-Sep 2012 quarter, the consolidated net profit of GE Shipping rose tripled to Rs 81.20 crore