Commercial operations of the International Port of Colombo South Container Terminal Project at Colombo Port was flagged off on August 5. The new terminal has been constructed by China Communications Construction Company, Zhenhua Heavy Industries, FHDI Engineering Company and Third Highway Engineering Company. With $300 million cost the project has been constructed in 28 months.
Category: Ports & Shipping
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Centre to develop two new major ports in AP, WB
The Government has decided to develop two new major ports with private participation under the Public Private Partnership (PPP) Mode, one at Dugarajapatnam in Andhra Pradesh and the other at Sagar Island in West Bengal, said the Union Minister of Shipping GK Vasan in a written reply in the Lok Sabha on August 26.
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Tuticorin may soon get the Export Excellence Town tag
Tamil Naudu's Tuticorin town is all set to secure the title, ĂâTown of Export Excellence for Marine products.Ăâ And for this, the Indian Chamber of Commerce and Industry in Tuticorin has been striving to earn the recognition for the town. Seafood exporters were looking forward to the recognition award to boost exports. Production and export of frozen seafood from Tuticorin Port had crossed Rs 1,000 crore, to earn the status of ĂâTown of Export ExcellenceĂâ in marine products.
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Govt clears Rs 1 lakh cr infra projects
The Union government on August 26 cleared Rs 1 lakh crore infrastructure projects which include projects under shipping and ports sector. The Prime Minister Manmohan Singh headed Cabinet Committee on Investment (CCI) has also asked the departments concerned to remove the bottlenecks for the projects within a month.
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Container freight rates to be hikded
The container freight rates on the India-Europe sector will be increased by $300 for 20-feet containers from September 1, said the Shipping Corporation of India on August 26.
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Sethu Shipping Canal Project in Palk Bay opposed
Stating that the Palk Bay Ăâ Gulf of Mannar area in Indian Ocean, is highly sensitive to higher heat flow and vulnerable to future earthquakes, several scientists, ecological experts and representatives of Coastal Action Network (CAN) have opposed the Sethu Shipping Canal Project (SSCP).
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Delay in dredging of approach channel in Vizag port
Some of the government-owned ports are bringing revenue losses to the government as they are not fulfilling their obligatorty tasks on contracts signed with private cargo handling firms, delaying their implementation and hurting the ability of these facilities to operate at full potential.
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Anti-bifurcation stir hits fertiliser movement at AP ports
In Andhra Pradesh the ongoing anti-bifurcation agitation in the coastal Andhra Pradesh is causing huge loss to ports in the state. Fertiliser handlers at seaports, particularly in Visakhapatnam port, are incurring huge demurrage (a charge payable to the owner of a chartered ship in respect of failure to load or discharge the ship within the time agreed.) losses over the last three weeks due to the agitations.
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Govt provides Rs 2,000 cr sops to export sector
The Union government has provided Rs 2,000 crore incentives to support the country's sagging exports, Unon Finance Minister P Chidambaram has said. The government's subvention is for clearing its dues to the export sector. Chidambaram told that as much as Rs 1,550 crore would be used to clear existing dues and the remaining Rs 450 crore would go towards interest subvention rate hike from 2 per cent to 3 per cent.
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Mumbai Port to set up marina for yachts
Rajiv Gupta, Chairman of Mumbai Port Trust said the port plans to set up its first marina project to give the yacht owners a secure storage place, especially during monsoon. The marina would be developed on the land-lease model and it is expected to come up on the northern side of the harbour waters, away from the Mallet Bun