The Ministry of Corporate Affairs is discussing whether to extend exemption of Vessel Sharing Agreement (VSA) and Voluntary Discussions Agreement (VDA) from the purview of Competition Commission of India (CCI). It may be recalled that the ministry exempted these agreements from the purview of the fair trade for a perio
Tag: Shipping
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NITC charters vessel from Mercator
Reports suggest that Mumbai-based Shipping firm Mercator last month gave its vessel the Omvati Prem to the Iran-based National Iranian Tanker Company (NITC) on charter basis for ferrying crude oil to India. This is for the first time the state-run tanker company of Iran NITC chartered an Indian vessel cove
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Ore shipment doubles in December
In December 2012, 11 major Indian ports handled a total of 1.89 million tonne of iron ore export cargo compared to 907,000 tonne in November 2012. This is a over 100 per cent rise in export of the steel-making raw material in December compared to the previous month
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MPT awards Rs 3 bn project to Gammon Infra
Mormugao Port Trust (MPT) and Gammon Infrastructure finalised a 30-year concession agreement that gives the company the right to construct and operate a coal handling terminal at the port. Gammon would built the terminal at a total estimated cost of Rs 300 crore with a capacity of 2.33 million tonne per annum. Mormugao Port selected Gammon for the project as the latter offered a revenue share of 33.66 percent. JSW, whic
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Cargo volume at Mumbai Port rises 9%
During Apr-Dec 2012, Mumbai Port Trust handled 44 million tonne cargo compared to 40.2 million tonne in the year-ago period, which is a growth of 9 percent, the port authority said in a statement. Cargo handled during December increased to 5.2 million tonne from 4.6 million tonne for the same month in 2011. During Apr-Dec 2012, the port handled 45,776 Twenty Foot Equivalent Units (TEU) of container cargo, which is sam
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Gujarat govt signs 8 MoUs for port development
The Gujarat government signed eight memoranda of understanding (MoU) with the attendants of the sixth Vibrant Gujarat Summit- 2013 for development of the existing ports as well as converting them into environmental-friendly or green ports. These eight MoUs are part of the 63 agreements worth Rs 1 lakh crore that the state government plans to sign with the private players for the development of the stateÂ’s port
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Mercator gives tanker to ferry Iranian oil
Mumbai-based Indian shipper Mercator gave a crude oil tanker to the National Iranian Tanker Company (NITC) for carrying crude oil from the gulf country to India in December. This is the first time that the Iranian firm chartered an Indian vessel covered under an insurance scheme arranged by New Delhi through state-run insurers, rep
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NMPT achieves 11.5% growth in cargo handling
P Tamilvanan, Chairman of New Mangalore Port Trust (NMPT) informed Union Shipping Minister GK Vasan that the port recorded a growth of 11.5 percent in cargo handling during Apr-Dec 2012. The port handled 27.01 million tonne of cargo during the first nine months of 2012-13 as against 24.23 million tonne in the corresponding period of the previous fiscal
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Net profit of Gujarat Pipavav declines
The net profit of Gujarat Pipavav Port declined 38.2 percent to Rs 8.17 crore during July-September 2012 quarter compared to the year-ago period.The fall in the bottomline is attributed to the 6.5 percent decline in net sales to Rs 86.47 crore during the period compared to July-September 2011. Gujarat Pipavav Port is the country's first private sec
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Major ports see 3.09% fall in cargo traffic
During Apr-Dec 2012, major ports witnessed a 3.09 per cent decline in cargo traffic because of fall in throughput of finished fertiliser and iron ore. While the iron-ore traffic at major ports declined by half, handling of finished fertiliser slumped 33 per cent during Apr-Dec 2012. Iron ore handling by ports declined mainly because of the ban on ore exports from Karnataka. The drop in hand