According to media reports, private sector shipping major Mercator Lines reorganised itself by reducing its dry bulk fleet to 14 vessels. The company reorganised its assets in order to adapt to the low freight rate scenario in the industry. The company sold a vessel and concluded termination of contracts on three in chartered vessels in the last quarter of 2012-13, reports indicate
Tag: Freight
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BDI rises due to demand for ore from China
Media reports indicate that the increase in demand for iron ore from China, the largest producer of steel, raised the Baltic Dry Index (BDI). The index tracks freight charges or the cost of moving the major raw materials by sea and it is published daily by the London-based Baltic Exchange
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Railways carry 171 mn t traffic in 2 months
During April-May 2013, Indian Railways carried 171.91 million tonne of revenue earning freight traffic . The freight carried shows an increase of 7.53 million tonne over the freight traffic of 164.38 million tonne actually carried during the corresponding period last year, registering an increase of 4.58 per cent. During the month of May 2013, the revenue earning freight traffic carried by Indian Railways was 88.19 million tonn
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Rise in freight rates too less to improve margins
According to industry sources, the recent rise in the freight rates was too less to improve the margins of shipping companies and the rates may not improve significantly in the rest of 2013. The Baltic Dry Index, which measures cost of shipping bulk commodities, has risen from an average of 745
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Railways’ freight traffic rises 4.12% in 2012-13
During 2012-13, the Indian Railways have carried 1.009 billion tonne of revenue earning freight traffic compared to 969.78 million tonne in the previous year. This represents an increase of 39.95 million tonne or 4.12 per cent over 2011-12. In March 2013, the revenue earning freight traffic carried by Indian Railways was 98.20 million tonne. There is an increase of 4.35 million tonne over the actual freight traffi
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Kakinada port to spend Rs 650 cr on dredging project
KV Rao, Chairman of Kakinada Deep Water Port informed a leading media that the port would spend Rs 650 crore over the next two years on dredging activity. The dredging activity is intended to increase depth of the entrance channel to 16 metre from the present 14 metre, reports suggest. The port authority expects to complete the dredging project by December 2014 after which the port
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Work on eastern freight corridor project begins
Tata Projects started work construction work on the 337 km Bhaupur-Khurja stretch in UP, which forms part of the Rs 5,500 crore eastern dedicated rail freight corridor (EDRFC) project. The infrastructure arm of Tata Group expects to complete it by 2016 for trial runs. The commissioning would take place by
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Credit Suisse expects better prospect for cement firms
In the next two years, prospect of cement companies may improve as supply pressure eases and demand rises, a research report by Credit Suisse shows. Cement firms have been battling supply glut because of excess capacity, which was built in anticipation of strong demand from the infrastructure projects
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India to boost coastal shipping with Bangladesh
The feasibility and potential of Coastal Shipping between India and Bangladesh was discussed In the Shipping Secretary-level talks held on 2nd – 3rd July, 2012 in Dhaka, Bangladesh. Subsequently, it was also discussed in the Directors General (Shipping) level talks held on 26th September, 2012 at Visakhapatnam, India and on 14-15 January, 2013 at Cox’s Bazar, Banglad
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Kandla Port creates record in loading cargo
Handling agent and ship agent Mystic Shipping facilitated Kandla Port to create a new record by loading 31,000 million tonne (mn t) of millscale in less than 14.15 hours in the vessel mv Beacon SW. The cargo was loaded on to the vessel, which arrived at the Port on February 23. The ship had berthed under 24 hourÂ’s priority group for loading the cargo in bulk. The Customs House Agent (CHA) was Rishad Shipping and Clearing Agency and the stevedoring licence used was that