Great Eastern (GE) Shipping, which has a fleet size of 28 ships comprising 20 tankers and 8 dry bulk carriers, decided to buy a very large gas carrier of about 49,300 dry weight tonnage (73,800 cbm). The gas carrier, once bought, would become the 29th ship of the firm. GE Shipping Company entered into a cont
Tag: Shipping
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Plan panel, ministry differ on draft norm for tariff setting
There seems to be some difference of opinion between the Planning Commission and the union shipping ministry regarding the draft new tariff guidelines for major ports. At a recent meeting with the shipping ministry, the Planning Commission said the reference tariff notified by Tamp will apply only for the first year of the concession perio
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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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Ministry may ask major ports to fund DCI
Shipping Minister GK Vasan informed media persons about his ministry's plan to ask profit-making major ports to provide capital to Dredging Corporation of India (DCI) for buying dredgers. The ministry may direct some of the ports to part-finance the purchase of two dredgers. This will be first time that the major ports will fund dredger proc
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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 countryÂ’s ports, handled 137 million tonne (mn
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Major ports witness rise in coal cargo
The 12 major ports in the country witnessed 43.96 percent rise in the handling of thermal coal cargo at 19 million tonne (mn t) during Apr-Jun 2013 from the year-ago period. This include mostly the import of thermal coal for power plants in the country. At a time when growth in the general cargo volume is stagnant across all major ports, the rise in the import of coal by domestic power producers may provide relief for these ports, reports
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EPL allots land for terminal project
Ennore Port (EPL) allotted 13.5 hectare land for setting up a 2 million tonne per annum multi-purpose cargo terminal. The length of the new cargo berth will be 270 metre with 15 metre draught. The port plans to set up this terminal through public private partnership (PPP) model and the terminal will have two mobile cranes and a six-fork lift truck to handle clean cargo such as timber, granite, machinery, project cargo, steel, cement
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ICTT receives Maersk main line vessel
The first direct Maersk main line service which has called at International Container Transshipment Terminal (ICTT) recently. ICTT received the mainline cargo vessel MV Newyorker with 1,185 twenty foot equivalent units (TEUs) of cashew from West Africa. The vessel, operated by the global shipping major Maersk Line, also has transshipment containers for Tutic
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Crude tanker segment may not perform well
Analysts expect that the crude tanker segment of the shipping industry may not perform well in the near future because of the sharp decline in the import of crude oil by one of the largest consumer of energy, the USA. The US has become self-sufficient for crude, because of its the boom in the shale oil industry in the country. US imports of crude oil declined significantly by almost 4 to 4.5 million barrels a day. That is not being mad
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Shipping sector suffers from overcapacity
Shipping companies worldwide are suffering from overcapacity or excess fleets and this depressed freight rates in the sector, reports indicate. At the end of 2012, worldwide fleet of bulk carriers rose to 679 from 393 in 2007. Further, this is expected to see growth of 10 per cent and 5 per cent in the next two years, respectively, before it tapers to 2 per cent in 2015, reports indicate