The annual report of the union shipping industry shows that some organisations in the sector incurred an expenditure of about Rs 490 crore, which was avoidable. According to a government audit, pointed out in the report, Dredging Corporation of India (DCI) incurred Rs 165 crore cost owing to lack of professional handling of fuel consumption
Tag: Shipping
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Rise in freight rates too less to improve margins
According to industry sources, the recent rise in the freight rates was too less to improve the margins of shipping companies and the rates may not improve significantly in the rest of 2013. The Baltic Dry Index, which measures cost of shipping bulk commodities, has risen from an average of 745
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PIL to operate mainline ship from New Mangalore Port
Tamilvanan, Chairman of New Mangalore Port Trust (NMPT) informed that Pacific International Lines (PIL) will operate a mainline ship from New Mangalore to Mombassa in Africa. The service will have calls at Karachi in Pakistan and Jabel Ali in the Gulf region enroute. The mainline ship – mv Kota Anggerik – will carry over 300 boxes, including empty containers to Mombassa in Africa from New Mangalore. The export cargo in the vessel includ
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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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Deregulation of tariff may attract pvt investment
Media reports indicate that the shipping ministry's move to deregulate tariff at the existing container terminals at major ports may instill confidence in private sector players to invest in port projects. According to the tariff regime introduced in 2005, the Tariff Authority for Major Ports (TAMP) decides the rate that can be charged by the existing terminals at major ports
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Govt to create 280 mn t cargo handling capacity in FY14
Union Shipping Ministry plans to create cargo handling capacity of 280 million tonne (mn t) at major ports in the country mainly through the public-private-partnership (PPP) mode during 2013-14. In 2012-13, the port awarded 32 port projects with a predictable investment of Rs 6,700 crore. Speaking at the 50th National Maritime Day celebrations, Union Shipping Minis
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Govt to create 280 mn t cargo handling capacity in FY14
Union Shipping Ministry plans to create cargo handling capacity of 280 million tonne (mn t) at major ports in the country mainly through the public-private-partnership (PPP) mode during 2013-14. In 2012-13, the port awarded 32 port projects with a predictable investment of Rs 6,700 crore. Speaking at the 50th National Maritime Day celebrations, Union Shipping Minis
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Kakinada port to spend Rs 650 cr on dredging project
KV Rao, Chairman of Kakinada Deep Water Port informed a leading media that the port would spend Rs 650 crore over the next two years on dredging activity. The dredging activity is intended to increase depth of the entrance channel to 16 metre from the present 14 metre, reports suggest. The port authority expects to complete the dredging project by December 2014 after which the port
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NMPT conducts trial operation at new berth
P Tamilvanan, Chairman of the New Mangalore Port Trust (NMPT) informed media persons that the port was conducting trial operation at the new berth for handling petroleum products. The port has already completed civil works on the berth, which can handle ships of 1.25 lakh DWT (dead weight tonnage). (DWT is a measure of how much weight a ship can carry
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NMPT’s cargo handling grows 12.44% in FY13
During 2012-13, cargo handling at the New Mangalore Port Trust (NMPT) grew 12.44 per cent to 37.04 million tonne (mn t) from 32.94 mn t in 2011-12. Cargo volume in the port received a boost from the increase in the handling of crude oil, petroleum products, coal and container cargoes, the port