Adani Ports and Special Economic Zone (APSEZ) handled
82.13 million tonne (mn t) cargo in 2012-13, a growth of 21 percent from the previous year. During January-March, APSEZ handled 22.89 mn t cargo, an increase of 38 percent over the same period last year. This growth was driven by container and bulk (ma
Tag: volume
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APSEZ handles 82 mn t cargo
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Report points to slow capacity addition in major ports
The Parliamentary Standing Committee on Transport, Tourism and Culture remarked pointed out to the slow pace of capacity adddition in major ports and said this was lagging behind capacity addition in private ports. In a report tabled in the Parliament, the committee said the government's aim to raise the capacity of the 12 major ports to 1,229.24 million tonne (mn t) by 2017 is a
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Rating agencies comment of Tata Steel’s writedown
According to analysts in India Ratings, Tata Steel's investment in its European unit has not delivered returns according to the management's expectation. This prompted the firm to writedown $1.6 billion asset in its European unit, Rakesh Valecha, Senior Director at India Ratings feels. Tata Steel attributed the writedown to "weak economic and market conditions" in Europe and it expects this situation to continue "over the near- and medi
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NMDC produced 27 mn t iron ore in FY13
NMDC produced 27.3 million tonne (mn t) and supplied 26.91 mn t of iron ore to domestic industries during the year 2011-12, which is around 16 percent of the countryĆās total production of iron ore of 167.28 million tonne (provisional). Government of India said this in a press release. This is around 23 percent of the total estimated consumption of about 116.3 mn t of iron ore by the dom
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Paradip port focuses on mechanising berths
SS Misra, Chairman of Paradip Port Trust (PPT) informed that the port management has given top priority to berth mechanisation and acquisition of two mobile harbour cranes. He said this while explaining the cargo volume handled by the port in April 2013. During the month, the port handled 5.65 million tonne (mn t) of traffic, thus posting 4.24 per cent growth over the same period
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APSEZ posts 44% rise in profit
During 2012-13, profit of Adani Ports and Special Economic Zone rose 44 percent to Rs 1,608 crore from Rs 1,117 crore in the previous year. The sharp rise in profit is attributed to the 29 percent rise in coal handling by the port, the company said in a press release. The country's largest private port operator, which operates two ports at Mundra and Dahej, both in Gujarat, witnessed 40 percent rise in revenue to Rs 3,841 crore from
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Vested interest dominate agenda of major ports; experts
Experts allege that the board of boards of trustees of the 11 major ports in the country are filled with people who promote their own interests rather than that of the ports. They point out that the boards are composed of shipping agents, defence and navy personnel, officials of the directorate general of shipping, Indian Railways offic
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Cargo volume declines 6% in major ports
At 43 million tonne (mn t), cargo volume at the 12 major ports in the country declined 6.2 percent in April from 46 mn t in the year-ago month. The fall in cargo volume is mainly attributed to a decline in cargo handling at Mormugao Port in Goa as well as Mumbai Port
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NMPT may post Rs 138 cr net surplus
The New Mangalore Port, which recorded a 12.43 percent growth in cargo volume in 2012-13 at 37.04 million tonne (mn t), may announce about Rs 138 crore of net surplus during the year, reports indicate. If the port is able to post the above net surplus, then it would be the 8th consecutive year that the figure exceeds Rs 100 crore, reports suggest
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Govt may invite bids for 2 port projects by July
Media reports indicate that the government may invite bids for the proposed two port projects, one each in Andhra Pradesh and West Bengal, by July and award contracts by September. It may be recalled that the central government earlier proposed to set up major ports in the above states on public-private-partnership (PPP) basis