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.
Category: Ports & Shipping
Post
Post
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.
Post
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.
Post
Adani Ports seeks more land for its SEZ project
For its special economic zone (SEZ) at Mundra in Gujarat, Adani Ports and Special Economic Zone is seeking additional land from the Union government. Adani Ports has 6,700 hectares of land that is notified and it has asked the government for another 1,800-1,900 hectares of land, the company said.
Post
SCI posts a quarterly loss of Rs 123.63 cr
A net loss of Rs 123.63 crore has been reported by the Shipping Corporation of India (SCI) for the quarter ended September, the company said in a filing to the Bombay Stock Exchange. The loss was mainly due to the high depreciation and interest costs.
Post
Krishnapatnam Port is preferred for edible oil refineries
On the east coast of India, Krishnapatnam Port is slowly and steadily emerging as a hub for edible oil refineries. The port has become more evident from the fact that there are over seven companies setting up their refineries near the port and a few more are likely to finalise their plans soon.
Post
Govt to expand 6 minor ports to up cargo transport
By 2015, the Kerala government has chalked out an action plan to shift 20 per cent of road cargo movement to coastal shipping. The State government would expand 6 minor ports to enhance coastal shipping services in the first phase. The government said that seven per cent of the total cargo movement is through coastal shipping.
Post
Complaint filed against unsafe ship anchoring in Goa
A police complaint has been lodged against the chairman of Mormugao Port Trust (MPT), Dy Conservator of Ports and the owner of the vessel MT Pratibha Bheema for disposing off the ship from the port and anchoring it 'unsafely' at the Panaji Port area, and dishonestly parting with the possession of the ship.
Post
ABG Shipyard to restructure its long-term debts
Mumbai-based ABG Shipyard, a shipbuilding company, is in the process of restructuring its long-term debts. The company has been facing liquidity issues since 2011 and global recession has dealt a severe blow as almost 70 per cent of its customers are Europeans.
Post
India, Japan to up cooperation in shipping
India and Japan proposes to strengthen their cooperation in the shipping sector. In this connection a delegation under the leadership of Union Minister of Shipping Shri GK Vasan is visiting Japan from November 9-12th on an invitation from Akihiro Ohta, the Minister of Land, Infrastructure, Transport and Tourism of Government of Japan.