The Rs 16,000 crore port-cum-industrial corridor deal has been cancelled by the Andhra Pradesh government. The State government had signed the deal with Ras Al Khaimah Investment Authority and Matrix Enport Holdings in 2008 for building a port-cum-industrial corridor.
Category: Ports & Shipping
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Kochi port to gain from FCI cargo
The Food Corporation of India (FCI) is to opt the Kochi port for its foodgrain movement of both bulk and break bulk cargo movement. With this, Kochi port is to gain a lot. FCI recently floated a tender for multi-modal contract for transport of rice from designated depots of Kakinada to Kerala through coastal movement.
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MSTC’s ship recycling yard to come up at Alang
The Union Steel Ministry controlled MSTC has proposed to set up an integrated ship recycling yard under the public- private partnership (PPP) at Alang in Gujarat. MSTC said that the project can bring in substantial revenue for the government in the form of taxes and levies on the real value of goods as recorded in the e-commerce transactions.
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Apeejay eyes shipping business to gain
Expecting momentum in global seaborne dry bulk trade, Apeejay Shipping has just bought ships hauling coal, iron ore and grains. It is also looking to foray into tanker, dredging or the OSV segment as business propositions in these segments improves.
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Afghanistan ready for pact on Chabahar port
Afghanistan has stated that it is keen to ink a trilateral agreement with India and Iran on the Chabahar port. Afghanistan on November 16 stressed that its ties with India are steady.
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Two terminals added to Kandla port to up capacity
The Union Minister of Shipping GK Vasan dedicated two terminals of the Kandla Port to the nation on November 16. Speaking on the occasion at a function in Bangalore, he said that this port, since its inception and especially in the last decade, has grown from strength to strength fuelling growth of Kutch, Gujarat and India.
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Ore quantity of e-auctioning is very megre for port
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.
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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.