Mormugao Port Trust in Goa is exploring various options to overcome the financial crisis that it is facing because of a sharp decline in iron ore export cargo. According to reports, the port is planning to reduce the staff strength through Voluntary Retirement Scheme (VRS). But the authority needs to secure the support and c
Tag: Port
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DP World’s business recast may facilitate fund raising
Some analysts and industry watchers feel that DP World has restructured its India operations in order to facilitate fund raising in the country, if required in future. Some analysts feel that the restructuring exercise is intended to raise the companyÂ’s valuation with an eye to tap the local capital market for funds
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DP World takes efforts to attract shipping lines
In the last few years, container terminal operator DP World has been taking efforts to attract foreign and domestic shipping lines to Vallarpadam International Container Transhipment Terminal (ICTT). DP World is attracting shipping lines by informing them about the productivity and performance of the term
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Container traffic at NMPT rises
New Mangalore Port Trust (NMPT) has reportedly handled 37,101 Twenty Foot Equivalent Unit (TEU) of container cargo so far during 2012-13 compared to 35,792 TEU handled during the corresponding period of 2011-12. This represents a growth rate of 3.66 percent. The port expects the container traffic to rise going forward once
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APSEZ to use stake sale proceeds for east coast project
Media reports suggest that Adani Ports and Special Economic Zone (APSEZ) would divest its stake in the Australia's Abbot Point port and use the sale proceeds to invest in its venture in the east coast of India. It is learnt that the Board of Adani Ports has in-principle decided to divest its significant stake in entities cont
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Essar Ports awaits govt nod for expansion projects
Essar Ports is awaiting the approval of the Gujarat government and necessary clearances in order to go ahead with its proposed $1.8 billion expansion projects in two ports, Salaya and Hazira. The country's second-largest private sector port and terminal company signed a Memorandum of Understanding (MOU) with the Gujarat Maritime Board rece
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NMPT handles 13% more cargo since April 2012
Cargo handling by the New Mangalore Port (NMPT) rose 13.08 per cent to 30.08 million tonne between April 1, 2012 and January 29, 2013 from 26.6 mn t in the year-ago period. With this, the port exceeded the cargo handling target set by the shipping ministry for the first 10 months of 2012
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CMIE expects 4% growth in cargo traffic in 2013-14
Centre for Monitoring Indian Economy (CMIE) expects 4 percent growth in cargo traffic across all major ports in the country during 2013-14 compared to an anticipated contraction of 2.4 per cent in 2012-13. According to its projection, cargo traffic handled by major ports may rise to 568.5 million tonne in 2013-14 from
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MPT loses iron ore cargo
Reports suggest that the Mormugao Port Trust (MPT), which is losing considerable cargo traffic in recent months, requested the central government for help to tide over the crisis. The port has been losing iron ore export traffic following a court order banning iron ore mining in Goa. Export of iron ore and pellets account for nearly 80 percent the portÂ’s total traffic
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Adani Group to strengthen presence in port sector
Adani Group, which operates Adani Ports in Gujarat, plans to strengthen its presence in the port sector by lining up greenfield projects and also by acquiring some port companies. As part of this strategy, the group is constructing ports in Hazira, coal berths in Mormugao and Vizag and a dry b