Net profit of Essar Ports rose 48 percent to Rs 101.4 crore during April-June 2013 from Rs 68.5 crore in the year-ago period. The port announced 22 per cent growth in revenue at Rs 403.7 crore during the quarter under consideration from Rs 330.3 crore in the corresponding period last year. Cargo volume of the firm rose to 14 million tonne during the quarter from 12.65 million tonne in the year-ago
Tag: Logistics
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GMB plans to add 46 mn t capacity in FY14
Gujarat Maritime Board (GMB) plans to add 46 million tonne (mn t) of capacity at the non-major ports in the state during 2013-14. Once this is achieved, the total cargo handling in non-major ports of the state would rise to 412 Million Tonne Per Annum (mn tpa), reports
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CPT loses cargo volume due to exit of HBT
RPS Kahlon, Chairman of Calcutta Port Trust remarked that the exit of Haldia Bulk Terminal (HBT) is one of the reasons for the port losing out on 3-4 million-tonne of cargo in 2012-13. HBT, which is a mechanised cargo handler working in berth number 2 & 8 in Haldia Dock Complex (HDC), exited the contract with the port prematurely in November 2012
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DCI plans to spend Rs 19 bn in 5 yrs
In the 12th five year plan (2012-17), Dredging Corporation of India (DCI) has planned a capital expenditure of about Rs 1,972 crore. This includes placing order for two more 9,000 cubic metre capacity dredgers. In the next four to five years, the state-run firm expects to procure these dredgers which may facilitate the company to handle up to 80 per cent of the annual maintenance dredging works of Indian ports. The balance wou
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Cargo volume rises in Halifax port
Data released by the Halifax Port Authority (HPA) in Canada shows general cargo volume rose 0.5 per cent during the quarter ending June 30, 2013. It shows volume of bulk cargo, such as oil and grains, declined 11.5 per cent when compared to the same period last year. Total cargo tonnage in the second quarter rose 0.6 per c
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VPT faces delay in implementing key projects
Visakhapatnam Port Trust (VPT) may find it difficult to achieve its planned capacity increase to 150 million tonne by 2020 as several port projects are facing delay. The company planned to achieve this capacity expansion through an estimated investment of Rs 14,000 crore. The port authority is facing implementation delay for thre
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EPL to raise Rs 5 bn via bonds
Ennore Port (EPL) plans to raise only Rs 500 crore through tax-free bonds instead of the earlier plan of mopping up Rs 1,000 crore. This information was given by MA Bhaskarachar, Chairman and Managing Director of the country's first corporate port set up by the Government of India. The port originally planned to raise Rs 1,000 crore through tax-
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Chidambaranar Port loads record tonnage of salt
VO Chidambaranar Port Trust in Tuticorin, Tamil Nadu loaded the highest tonnage of 13,200 mn t salt in bulk in the vessel MV Great Gain. S Natarajan, Chairman of the major port said in a press release that this was the record handling of salt in bulk by the port in a single
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Cargo volume declines in major ports
Data compiled by the Indian Ports Association (IPA) shows container cargo volumes at the 12 major ports in India declined to 1.87 million standard containers in April-June 2013 quarter at from 1.94 million a year earlier. During the same quarter, these 12 ports, which account for about 58 percent of the total cargo shipped through the countryĆās ports, handled 137 million tonne (mn
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Dredging cost may hit profitability of ICTT
The profitability of the Vizhinjam international container transhipment terminal (ICTT) is under question because of the annual maintenance requirement after every monsoon season. According to hydrographic surveyor Commander John Jacob Puthur (retd), the terminal requires dredging after each monsoon to remove at least 3 million cubic metre of silt at a minimum annual maintenance cost of Rs 3