Dredging Corporation of India (DCI) is issuing tax-free bonds worth Rs 500 crore and has offered a coupon rate of 6.47 per cent for qualified institutional investors, domestic companies and high net worth individuals. The coupon rate is 7.47 per cent for retail investors. The bonds are of 10-year tenure and 40 per cent of the issue is earmarked for retail investors
Tag: Port
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APM Terminals handles record containers in Feb
APM Terminals Pipavav set a record of handling 250 box rakes (both import and export) in February 2013, more than 224 box rakes handled in December 2012. The port management attributed this record to the commissioning of its 3 RMGC and the resumption of double stack operations besides the continued dedication of its workforce
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Performance of Indian ports improves
In a sign of progress in the port performance, the average turnaround time (in days), average pre-berthing detention time (in days) and average output per ship – berth – day (in tons) have shown improvement in 2011-12 and April-September, 2012 over corresponding previous period. During April-September 2012-13, the average output per ship-berth-day improved to 13,374 ton for all major ports
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Essar group mulls port project in Mozambique
Essar Africa Holdings, the African subsidiary of Essar group, plans to invest $275 million on developing a 10-million tonne (mn t) port in Mozambique. The project is currently on the drawing board, reports indicate. At a time when the group is looking at growth opportunities and overseas projects, the proposed port may facilitate exports from Zimbabwe Iron and Steel Company (ZISCO), a Zimbabwe-based company it acqu
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Existing terminal operators submit plea to PM
Existing private terminal operators of ports have demanded that the proposed guidelines by the shipping ministry, if approved, also cover existing terminals as tariff fixation under the 2005 guidelines has hampered their growth. The ministry earlier announced that the proposed guidelines would apply only to new Public-Private Partnership (PPP)
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Hanjin Shipping India launches new service from Mundra
As part of its strategy to expand service offering to Indian traders, shipping firm Hanjin India decided to launch an additional service, jointly with Simatech and Evergreen, from Mundra Port to East Africa. The new service, which is intended to offer Indian customers a reliable, direct sailing to East Africa, will operate four 1,800 Twenty Foot Equivalent Unit (TEU) vess
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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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Govt takes steps to expedite port projects
Union Shipping Minister GK Vasan informed the Lok Sabha that the government initiated a number of steps including standardisation of RFQ, RFP and MCA documents for public private partnership (PPP) projects in port sector. He also said that the government increased delegation of financial powers to shipping ministry to acco
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Kolkata Port awaits centre’s nod for Rs 78 bn project
Kolkata Port Trust Chairman RPS Kahlon informed that the port was awaiting cabinet approval from the centre for the Rs 7851 crore Sagar port project in West Bengal. The West Bengal cabinet had approved the project and Kahlon expects the union cabinet to clear it soon
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Ennore Port expects 14% rise in cargo volume
According to an official press release, cargo volume at Ennore Port may rise 14 per cent to an all-time record of 17 million tonne (mn t) in 2012-13 from 14.96 mn t in the previous financial year. The cargo volume handled by the port surpassed the target of 16 mn t fixed by the centre for the financial year 2012-13 on February 28. The target for the entire financial year was achieved one month prior to the close of the financial year