Vishakhapatnam Port is poised for major expansion, with the Minister for Shipping, Road Transport and Highways Nitin Gadkari inaugurating several projects during a recent visit to the port.
Tag: Shipping
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Global port majors in talks to buy Ocean Sparkle
DenmarkĂ´s Svitzer, JapanĂ´s K Line and AustraliaĂ´s Qube Logistics are among the strategic investors in talks with Hyderabad-based Ocean Sparkle to acquire a controlling stake in the company, in a deal valuing the Indian shipping firm about $450-500 million.
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Chabahar port may become operational in 1.5-2 years |Govt
Commercial operations at the Chabahar port are expected to start in the 18-24 months, which will provide India increased connectivity to Russia and North Baltic countries, among others, Minister of State for Shipping P Radhakrishnan informed the Parliament.
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Gadkari urges US to invest in ports sector
Union Shipping Minister Nitin Gadkari has urged the United States (US) to invest in development of new ports and construction of new berths/terminals in the existing ones.
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Mandaviya takes over as MOS
Mansukh Lal Mandaviya has assumed the charge of Minister of State, Ministry of Road Transport & Highways and Shipping from July 11, 2016. He is a BJP MP (Rajya Sabha) from Gujarat.
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Govt plans transparency in shipping, logistics
The government might soon propose amendments to the Multimodal Transportation of Goods Act, 1993. The aim is more transparency in the shipping and logistics sectors and to discourage container freight stations from overcharging both importers and exporters, said two government officials with direct knowledge of the matter.
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PM wants ministries to chalk out plan for better movement of coal
Prime Minister Narendra Modi has reportedly asked the ministries of coal, railways, shipping and power to work out a plan for better movement of coal though coastal and inland waterways and present the policy on the same to the cabinet.
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Govt targets 120 mt capacity addition in ports
Union Shipping Minister Nitin Gadkari has set an ambitious target of capacity addition at 12 major ports by 120 million tonne in 2016-17. These ports had added the highest-ever capacity of 94 million tonne in 2015-16.
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Major ports handle 603.37 mt in FY16 | Govt
Total cargo handled by major ports increased by 4.3 per cent to 606.37 mn t last fiscal as against 581.34 mn t in 2014-15, Parliament was informed.
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We are cautiously optimistic about a positive future
At IRClass, in the last 12 months, we have seen growth in our top line. However, the global slump in oil prices, the dip in offshore productions, ChinaĂ´s slowdown, and IndiaĂ´s mining crisis, have inevitably resulted in pressure on industry revenue streams.