The Mormugao Port Trust in Goa could see an increase in its cargo as the Supreme Court allowing the e-auction of about 11 million tonne (mt) of iron ore mined in the state. However, this is just a fourth of about 40 mt of iron-ore cargo the port handled in its heydays.
Category: Ports & Shipping
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Paradip Port surpasses Visakhapatnam in cargo handling
In cargo handling, Odisha's Paradip Port has gained a lead over Visakhapatnam Port Trust (VPT), Which had a record of handling the largest volume of cargo in the East Coast. Paradip Port has handled an additional five million tonne of cargo in this current year.
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Varun Shipping reports Rs 54.94 cr net loss
Media reports say that Varun Shipping Company reported a net Loss of Rs 54.94 crore in the quarter ended September 2013 as against net loss of Rs 116.03 crore during the previous quarter ended September 2012. Sales declined by 58.48 per cent to Rs 35.63 crore in the quarter ended September 2013 as against Rs 85.82 crore during the previous quarter ended September 2012.
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Panel for strengthening security at Alang ship-breaking yard
An inter-ministerial panel has recommended of communication sets of vessels being scrapped at Asia's largest ship breaking yard at Alang in Gujarat need to be destroyed so as to prevent their misuse.
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Loans of RBS shipping under review
Agency reports say that Royal Bank of Scotland is reviewing its shipping loan business and billions of dollars from the portfolio are expected to be placed in the part-nationalised groupÂ’s new internal 'bad bank.'
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Govt to up ports’ capacity to 3,200 mtpa
Union Shipping Minister GK Vasan on November 16 said that the Ministry targets to boost the capacity of Indian ports to 3,200 million tonne (mt) by 2020. The capacity of Indian ports, including major and non major ports, has now crossed 1,300 million tonne per annum (mtpa).
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Govt not in favour of maritime university for Kerala
It is said that the Union Shipping Ministry is not in favour of allowing another maritime university in Kerala. With this, KeralaÂ’s hopes to have a maritime university in the State may not materialise soon. Why because, the first one in Tamil Nadu is yet to get over its teething troubles.
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TPG to buy a big stake in Karaikal Port for Rs 1000 cr
US-based private equity (PE) firm TPG Capital India is set to buy a majority stake in Karaikal Port Pvt Ltd. TPG has entered into a so-called exclusivity agreement with the port and will invest at least Rs 1,000 crore to acquire stake from existing investors and promoters.
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ABG Shipyard’s Rs 11,000 cr loan may be restructured
On the proposal to restructure Rs 11,150-crore loan extended to ABG Shipyard, a group of lenders led by ICICI Bank may take a decision soon. ABG Shipyard is the country's largest privately owned shipbuilding company.
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Kerala to revive Kodungallur port at Rs 45 cr
The Kerala Ports Department is to revive the ancient port town of Kodungallur. Once, it was a thriving trade centre. Now the Kerala government wants to bring back the port's old glory. Work on the port will soon begin in a 60-acre area.