To reduce its debt burden, Adani Abbot Point Terminal Pty Ltd, which owns a coal terminal in Australia, is planning to raise $1.2 billion through multiple debt instruments to refinance the port companyĂâs borrowings. The port company, owned by Adani Group, has a debt of nearly $2 billion.
Category: Ports & Shipping
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Cargo traffic up at three ports in south
Except Chennai Port Trust (ChPT), other ports in the vicinity-Ennore Port, Krishnapatnam Port and Karaikal Port Ăâ have handled cargo well for the 1st half of the present year, say media reports. During the period under review (April to September 2013), Ennore Port (EPL) registered 59 per cent boost in total cargo at 12.68 million tonne (mt) against 8 mt for the corresponding period.
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Ennore port to run as a corporate firm
As the Ennore port is being run as a company by the government, management of the port will not follow federal shipping ministry guidelines to set rates for cargo services. Last week, the port management informed prospective bidders for a container-loading facility that it will not follow federal shipping ministry guidelines to set rates for cargo services.
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Sunk Chinese cargo ship traced near Sagar Island
The Kolkata Port Trust (KoPT) on October 15 traced the wreck of the Chinese-owned Panama-flag freighter MV Bingo, which sank nearly 22 nautical miles south of Sagar Island on October 12 night. Owners of the ship have been directed to salvage the wreck as it is in the navigation channel used by ships moving to and from the ports of Kolkata and Haldia.
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Meet on port management in Dubai on Feb 11, 12
With an aim to create a platform for maritime professionals, a two-day Second Annual Port Management Strategy Summit is to be held in Dubai, United Arab Emirates on February 11 and 12 in 2014.
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Deep sea exploring ship dedicated to nation
The Rs 650-crore deep sea exploration ship, Samudra Ratnakar, was dedicated to the nation by the Union Minister for Mines Dinsha Patel at Kandla Port in Gujarat on October 12. The ship is currently docked at Kandla Port. The ship is the first of its kind in the south east Asia.
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Phailin-hit ports in Odisha resume operations
The recent Phailin cyclone-hit ports in Odisha are now resuming operations again. The Paradip Port Trust, which had halted cargo operations in its area on October 11 due to Phailin strike, has started its operations partially by allowing small-sized vessels.
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Port in Gopalpur suffers heavy losses
The recent cyclone Phailin has hit a severe blow to the upcoming all-weather port in Gopalpur in Odisha. The port is promised to change the face of this coastal town in southern Odisha, but the Phailin has damaged it a lot.
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Cochin Port Trust may incur losses this fiscal too
The Cochin Port Trust, once a profit making firm, has now accumulated losses of Rs 68 crore at the end of the last financial year due to dredging activity for the Vallarpadom international container transshipment terminal (ICTT), being run by Dubai Port World, say trade union leaders. This financial year the loss is expected to mount further.
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Major ports’ container volume falls in 1st half
Container volume at major ports in India tumbled 4.5 per cent year-over-year in the first half of fiscal year 2013-14, but total cargo throughput was up 2.3 per cent, according to preliminary figures released by the Indian Ports Association (IPA).