Experts suggest shipbuilding and shipping companies to diversify into dredging segment in order to cope with the slackness in cargo business. Shipyards are not getting new orders for ships from shipping companies owing to oversupply of fleet and slowdown in the international trade. Under this condition, shipyards may diversify into construction of dred
Tag: Shipbuilding
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India signs pact with Vietnam on cooperation in maritime sector
Recently, union shipping Minister GK Vasan signed an agreement with his counterpart in Vietnam for strengthening cooperation in the maritime sector between both the countries. Vasan signed the pact with Minister of Transport of the Socialist Republic of Vietnam Dinh La Thang during the former's six-day visit to the country
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Coastal shipping in VRV region
Business groups in the Visakhapatnam-Rajahmundry-Vijayawada (VRV) region must revive the coastal shipping and inland waterways sector,
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Call for reviving coastal shipping in VRV region
Business groups in the Visakhapatnam-Rajahmundry-Vijayawada region must revive the coastal shipping and inland waterways sector, Gravity 2.0, a forum of entrepreneurs in the region feel. Earlier, the region was known for its shipping and trade on the sea and also shipbuilding industry. However, with the passage of time, interest in it has dimin
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GPL to begin full-fledged operation soon
Gopalpur Port (GPL) would begin full-fledged operation within a month after rectification of defects, if any, following the test run, a top official of the port said. Since 2010, the port operation had been stopped for its upgradation to an all weather port. Before 2010, the port, located at Arjeepalli was functioning as a seasonal port
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Ministry lines up steps for shiphuilding sector
In order to promote shipbuilding industry, the union shipping ministry has lined up measures which include providing cheap loans to the firms, PK Sinha, union shipping secretary said. The shipping ministry has requested the finance ministry to give an interest subvention scheme for the shipbuilding industry as the sector grapples to attract com
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SCI plans to invest Rs 19 bn in FY14
Shipping Corporation of India (SCI) plans to spend
Rs 1,939 crore during 2013-14, far less than Rs 2,497 crore spent in 2012-13, Union budget documents shows. The investment would be financed through internal and extra budgetary resources. Sunil Thapar, director-bulk and tanker division, SCI said the company wants to cons
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Industry welcomes removal of duty
Anil Devli, Chief Executive Officer of Indian National Ship Owners Association informed that the removal of excise and countervailing duty (CVD) is a big boost to the shipbuilders. He said the move would see more ships being built in India now. The Rs 300-crore subsidy will increase the cash flow, Dhananjay Datar, group Chief Financial officer, ABG Shipyard, said
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Container terminal at Katupalli Port to go on stream
The Rs 2,000-crore container terminal at Larsen & Toubro's (L&T) Katupalli port near Chennai is expected to go on stream soon. Tamil Nadu Chief Minister J Jayalalithaa planned to inaugurate the terminal, which has been ready for operation for over five months. The inauguration was dela
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Centre receives plea to remove custom duty on ship breaking
Union Finance Minister P Chidambaram received a request from the Gujarat government to reduce custom duty on import of ships being brought for breaking from 5 per cent to zero. Gujarat Finance Minister Nitinbhai Patel put this request at the pre-budget meeting convened by Chid