Sri Lanka Ports Authority (SLPA) has stated that cargo to and from India accounts for 62 per cent of Colombo portÂ’s transshipment business. SLPA's Chairman Priyath Bandu Wickrama said that at present, Colombo is handling 16 per cent of IndiaÂ’s transshipment of 10 million TEU, but it hopes to increase it to 23 per cent, given the portÂ’s expansion plans. The new port coming up on the southern side of the existing harbour will increase ColomboÂ’s capacity by 40 per cent.
Tag: India
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Steel production rises marginally by 0.9% in June
In June 2013, steel output in India rose a mere 0.9 percent to 6.45 million tonne (mn t) from 6.39 mn t in the year-ago month. It is learnt that during the month, India's rate of growth in steel production declined below the world average. Data from World Steel Association (WSA) shows global steel output touched 132 million tonne in June 2013, a 1.9
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India needs fuel saving standards for transport: CSE
India is the only major vehicle producing country in the world without fuel saving standards for cars, said a report from the Centre for Science and Environment (CSE). More than 40 per cent of the oil and oil products in the country go into running vehicles. In fact, if this guzzling continues unabated, it can virtually wipe out the gains of fuel savings from all other steps, and undermine all efforts at reducing climate change risks, said Sunita Narain, CSE Director General.
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India in talks with Pak to export natural gas via pipeline
To export natural gas to Pakistan through a pipeline from its Punjab state, India is in talks with the neighbouring country to help it overcome crippling energy shortage. India's State gas utility GAIL has proposed to lay a 110-km pipeline from Jalandhar to Wagah border via Amritsar to supply natural gas to Pakistan, GAIL Chairman and Managing Director BC Tripathi has said.
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India reduces oil imports by half from Iran
India's imports of crude oil from Iran more than halved in June from a year ago as refiner Essar Oil became the only remaining Indian client of the sanctions hit country. Tanker data showed that India's imports for June fell about 60 per cent on an annual basis, pointing to imports from Iran's top four customers-China, Japan, India and South Korea of around 8,60,000 barrels per day for the month down more than a third on the year.
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Kolkata port wins best container port award
Among all major ports in India, Kolkata Port Trust (KoPT) has been adjudged as the 'Container Handling Port of the Year,' at the 5th South East Cargo & Logistics Awards 2013 ceremony. The recognition for KoPT is for its excellence in container handling in 2012-13. The award was received by I Jeyakumar, Deputy Chairman, KoPT in Chennai. After receiving the award, KoPT chairman RPS Kahlon said that the port has been holding third position in respect to container traffic among the 12 major ports in
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Cargo cost set to come down thanks to coastal shipping
With the development of coastal shipping in India, soon a car manufactured at a Sriperumbudur plant near Chennai would be able to reach Mithapur in GujÂarat within five days. While the companies can move 50 truckload of cargo in one ship, the water transportation method would also bring down manufacturing cost of the product, fuel expense and reduce carbon footprint.
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Foreign firms eye refinery, LNG projects in India
According to media reports, British Gas and British Petroleum are interested to set up oil refineries and LNG terminals in India. It may be noted that recently, government allowed 100 per cent FDI in oil refineries throÂugh the automatic rouÂte and this removes the need for a foreign company to tie-up w
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Icra revises down economic growth forecast for FY14
The Indian economy may grow 0.40 percentage points lower at 5.4-5.6 per cent during 2013-14 compared to the earlier forecast, ratings agency Icra said. The agency revised down the economic growth estimate citing weak economic environment and rupee
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Govt ups Abu Dhabi air travel seats to 50,000
The Inter-Ministerial Group (IMG) at the Centre has enhanced the number of seats to 50,000 in flights that airlines from India and Abu Dhabi operate to each otherÂ’s countries. The IMG has taken a decision to this extent. This was done after overruling an inter-Ministerial committee of bureaucrats, which had recommended increasing the seats to 40,000. This is the line that the Ministry of Civil Aviation is taking in a note being prepared for the Union Cabinet.