Shipping / Transport
PSU shipyard GRSE to build ocean-going tug for Bangladesh
The tug's primary roles will include towing ships at sea, both alongside and astern, assisting them during berthing and casting off, and aiding in turning through pushing and pulling, the GRSE official said. The vessel will also have the capability to carry out rescue and salvage operations at sea.
JSW Infrastructure to re-evaluate strategy for Tajpur port project 'if it comes for re-bidding': Official
JSW Infrastructure Ltd remains interested in the Tajpur deep sea port project in West Bengal, open to reassessing strategies if the project is re-bid, following Adani Ports and SEZ Ltd winning the last tender. Chief Minister Mamata Banerjee's announcement of a new tender has created uncertainty. APSEZ and JSW Infra are key players in the project, expected to attract a significant investment and create numerous jobs, awaiting further developments.
Udupi Cochin Shipyard Limited bags Rs 1,100 crore order for cargo vessels from Norwegian firm
UCSL secured a Rs 1,100 crore deal for eight 6300 TDW cargo vessels from Wilson ASA. These vessels, designed for eco-friendly operation in European coastal waters, are part of a project to be completed by September 2028. The company has also delivered tugs to Adani Harbour Services and received repeat orders from Polestar Maritime.
JSW Infrastructure seals deal; to buy Navkar Corporation
JSW Infra has finalized an agreement to purchase all shares held by the promoters of Mumbai's Navkar Corporation, which operates in the container handling sector, according to a disclosure to the stock exchange. Navkar Corporation offers a range of complementary products to the ports owned and managed by the Sajjan Jindal-group company. JSW Infra will pay Rs. 1,013 crore in cash for the stake acquired from Navkar Corporation's promoters.
Budget 2024: 25% share by Indian liners could save $50 billion annually, says FIEO
Key export-related demands included creating an Indian shipping line, duty cuts, and extending credit schemes. Nasscom pushed for favorable policies like transfer pricing rules and deep tech clarity, with officials present to address concerns.
IMEE-EC's India-UAE segment on track: Ports' digital integration moves forward, set to be ready in 100 days
The strategic India-Middle East Europe Economic Corridor (IMEE-EC) is set to commence its India-UAE leg, with a digital platform for port information exchange expected to be operational within the first 100 days of the Modi government. The initiative, aimed at enhancing trade connectivity, faces challenges due to tensions in West Asia, but recent support from the G7 has bolstered its prospects. The corridor, divided into phases, will facilitate the movement of cargo from locations in India to Israel.
Cabinet approves development of greenfield deep draft port at Vadhavan in Maharashtra for Rs 76,200 cr
Prime Minister Narendra Modi-led Cabinet on Wednesday approved the development of greenfield deep draft port at Vadhavan in Maharashtra for Rs 76,200 crore. The port will have nine container terminals, each 1000 meters long, four multipurpose berths, including the coastal berth, four liquid cargo berths, a Ro-Ro berth, and a Coast Guard berth.
Nine Indian ports ranked among top 100 in Container Port Performance Index 2023
In the latest Container Port Performance Index (CPPI), released by the World Bank and S&P Global Market Intelligence, India's ports have achieved notable global rankings. Nine ports from India have been listed among the top 100 globally. Visakhapatnam Port secured the highest position among them, ranking 19th worldwide in 2023. Mundra Port also made significant progress, climbing to 27th place in the current rankings.
Cabinet approves Rs 76,220 crore Vadhavan port
The Union Cabinet approved India's 13th Major Port at Vadhavan in Maharashtra worth Rs 76,220 crores. The project will create additional capacity and operate on a 'landlord model' under a PPP model.
Cabinet approves Vadhavan Port project worth over Rs 76,000 crore in Maharashtra
The Cabinet led by Prime Minister Narendra Modi has approved the construction of a new deep draft port at Vadhavan in Maharashtra, costing Rs 76,200 crore. Upon completion, this port, valued at Rs 76,200 crore, will rank among the world's top 10 ports. The project will be executed by Vadhavan Port Project Limited (VPPL), a special purpose vehicle (SPV) jointly formed by the Jawaharlal Nehru Port Authority (JNPA) and the Maharashtra Maritime Board (MMB), holding 74% and 26% shares respectively, according to an official statement.
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Adani gets Green nod for Rs 45,000 cr Mundra Port capacity expansion
Gautam Adani-led Adani Ports & Special Economic Zone Ltd (APSEZ) has received the key environmental and coastal regulation zone approval from the Centre to more than double the capacity of its flagship port located at Mundra to 514 million tonnes with an investment of ₹45,000 crore.
Allcargo Logistics arm partners with ShipBob for ocean, air freight services
ECU Worldwide, a subsidiary of Allcargo Logistics, partners with ShipBob to offer freight services globally through FreightBob program, enhancing e-commerce inventory management with ECU360 tech-driven platform.
Indian ship recyclers' revenue seen rising 15% this fiscal: Crisil ratings
The Indian ship recycling industry is expected to grow by 15% this fiscal, supported by increased availability of ageing vessels. Crisil ratings mentioned that Indian ship recyclers are more competitive than rivals in Bangladesh and Pakistan.
Sarbananda Sonowal gets into a huddle with officials, sets target for 100 days for MoPSW
Sonowal also reviewed the Targets set & offered every support to transform them into reality. The meeting was also attended by the Secretary of MoPSW, TK Ramachandran, among others including Joint Secretaries, Directors, young professionals to Assistant Section Officers.
Adani Ports bags 5-year operation and maintenance contract at Kolkata port
Adani Ports and Special Economic Zone Limited (APSEZ) has secured a five-year Operation and Maintenance (O&M) contract for the container facility at Syama Prasad Mookerjee Port in Kolkata. The company must deploy cargo handling equipment within seven months from the letter of acceptance (LOA) date. The presence of APSEZ at the dock is expected to improve connectivity between the terminal and its container ports, particularly with transhipment hubs at Vizhinjam and Colombo.
Major ports cargo traffic rises over 3% to 72.04 million trillion in May
Cargo traffic at major Indian ports rose by 3.75% in May to 72.04 MT, with notable growth at Visakhapatnam, Chennai, and Cochin ports, as per Indian Ports Association data.
