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.'
Category: Ports & Shipping
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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.
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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.
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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.
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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.
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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.