The global economic slowdown has also hit the country's port sector. officials in the port industry say the same. Things are not likely to be rosy in the immediate future given the continuing global economic slowdown. It may not be the right time to start a container terminal as there is no visibility of cargo, says an official at Kattupalli Port, near Chennai, from where the first regular container service (from Kattupalli Port) will commence from September 19 to Singapore and Port Klang.
Category: Ports & Shipping
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TN halts work on useful Chennai port e’way
The Tamil Nadu government has asked the National Highways Authority of India (NHAI) to hold the Rs 1,800 crore 19-km Chennai Port-Maduravoyal Elevated Express Corridor project as the NHAI has deviated from the approved alignment. The project is on hold since April 2012. Now, the port users say they will face huge hardships if Chennai Port-MaduraÂvoÂyal elevated corridor project is not implemented.
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Dip in Cochin port July exports
Exports through the Cochin Port declined 10 per cent in July while imports rose 11.75 per cent, according to Cochin Chamber of Commerce and Industry's Cexports and imports statistics. July import of commodities, components and equipment through Cochin Port and Vallarpadam International Container Trans-shipment Terminal (ICTT) was 2.4 lakh tonne, compared to 2.1 lakh tonne in the previous-year month.
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Jindal’s proposal to buy stake in Gopalpur port rejected
Odisha Commerce Minister Subrat Tarai has stated that the Odisha government on August 30 rejected a proposal by Jindal Steel and Power (JSPL) to acquire 49 per cent stake in Gopalpur Ports (GPL) in the state. Citing the State's Law Department's report, he said that the Gopalpur port could not be transferred before its operation for at least three years.
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AP govt must set up maritime board to boost port sector
Industry watchers suggest Andhra Pradesh government to set up a state maritime board (SMB) in order to boost the port and shipping sector in the state. There are 12 minor ports and one major port in the state. Earlier in 2010, the state government introduced a draft Bill for a maritime board in the Asse
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SCI raises rates for container cargoes
Effective September 1, state-run Shipping Corporation of India (SCI) raised container freight rates on different trade routes including the Europe, Mediterranean, Black Sea and Red Sea. SCI hiked rates considering rise in the fuel costs, insurance premiums and port handling charges. It may be noted that the company, which is suffering operational loss
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Major ports witness decline in profits
The country's 12 major ports witnessed decline in profit in recent years. The aggregate profit of the 12 major ports declined to Rs 1,790.92 crore in 2011-12 from Rs 1,946.38 crore in 2010-11. The combined net profit of these ports declined further to Rs 1,220.61 crore in 2012-13. These 12 ports also witnessed contraction in cargo volume from 570 mn t in 2010-11 to 560 mn t in 2011-12.
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Capacity of major ports stand at 744 mn tpa
As on March 31, 2013, the aggregate capacity of all major ports in the country stood at 744.91 million tonne per annum (mn tpa). This information was given by the minister of state for shipping Milind Deora in Rajya Sabha. Owing to ban on iron-ore mining and global slowdown, the traffic at major ports declined last year, the minister
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Kattupalli port to give Chennai port a run for its money
The operation of container terminal at Kattupalli port may reduce the traffic of container cargo at the nearby Chennai Port, reports indicate. From next month, Larsen & Toubro Limited (L&T) plans to start operation at its container terminal in Kattupalli port. The terminal may handle up to 400,000 containers per annum and can touch half a million capacity with a single
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Private ports more efficient than major ports
Experts feel that the performance of private ports is more efficient than the 12 major ports, which are owned by the central government. The superior performance of private ports is attributed to their ability to capture the entire value in the chain—right from the time cargo enters a port till it is loa