Adani Ports Q4 profit up 41%
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator, reported a 41.45 percent surge in its consolidated net profit to INR 1,314.19 crore (USD 188.4million) for the quarter ended on March 31, 2019.However, its revenue fell 3.15 percent to INR 31 billion, said a stock exchange annoucement. Its coal volumes rose 30 percent year-on-year during the quarter, while the cargo volume increased 19 percent.The company also reported a record cargo throughput of 54 million metric tonnes in the three months ended March, according to the filing.
Adani to Develop Container Port in Myanmar
India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions have been received in the form of Myanmar Investment Commission permit, to build and run a container terminal along the Yangon river for 50-years.APSEZ would be the first Indian company to set up a container terminal outside India, CEO Karan Adani said.Construction for phase one of the project will commence next month and will be completed by June 2021.
APM Terminals Pipavav Launches Intermodal Service
Indian multipurpose port APM Terminals Pipavav has launched a rail connection to its Kanpur Inland Container, giving customers the opportunity to connect more efficiently to the gateway port.The new connection was named the 'Polymer Express' as the first train on the route was carrying 90 TEUs of polymer for Gail, the natural gas transmission company.APM Terminals Pipavav is one of India's gateway ports for containers and liquid and dry bulk cargoes, serving customers in the state…
Indian PM Inaugurates Mundra LNG Terminal In Gujarat
Indian Prime Minister Narendra Modi has inaugurated the Mundra LNG terminal that has been developed in keeping with his emphasis on clean energy.He said that the inauguration of the LNG terminal is the highlight of today's programme. I am fortunate to have inaugurated three LNG terminals, he added.Narendra Modi said that when Gujarat got its first LNG terminal, people were surprised. Now, the State is poised to make a fourth LNG terminal, he added.Gujarat is emerging as an LNG hub of India, the Prime Minister said, adding that this should make every Gujarati proud.
India Builds National Maritime Heritage Complex at Lothal
Indian Ministry of Shipping, through its flagship programme Sagarmala, is closely working with Government of Gujarat state and other stakeholders to showcase India's rich maritime heritage through development of a World Class Maritime Heritage Complex (NMHC) at Lothal in the state of Gujarat.Preliminary work on design elements of the proposed heritage complex has been completed and consultations from experts are now under process. In order to further plan and take the project forward, a one day consultation workshop was held at Chatrapati Shivaji Maharaj Vastu Sanghralaya in Mumbai.
APM Terminals Pipavav Hosts Trade Meet for CHAs
APM Terminals Pipavav recently hosted a trade meet for Custom House Agents (CHAs) and service providers at the Port and at Diu, Gujarat.The event was attended by members from Ahmedabad Customs House Agents Association (ACHAA), Pipavav Customs Brokers Association (PCBA), Ahmedabad Steamship Agents Associations (ASAA), Shipping Lines, ICD Operators, Global Freight Forwarders and Transporters etc.The objective of the event was to bring together the key stakeholders on a common platform…
Hazira Port Breaches 500K TEU Mark
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer today said that it had breached the 0.5 Million TEU mark at Hazira Port in FY 2017-18, with year-end throughout touching 500,879 TEUs, corresponding to a remarkable growth rate of 20.7% over 2016-17. With an annual capacity of 1 million TEUs, 2 berths of combined length of 630 metres and quay-side infrastructure comprising 6 QC’s and 16RTG’s, the all-weather port with a deep draft has been able to attract main line services from the world’s largest container shipping companies.
JNPT to Start Direct Port Delivery Transport
The Jawahar Lal Nehru Port Trust (JNPT) will roll out Direct Port Delivery (DPD) transport solution from May 1, enabling faster and cost-effective movement of containers. "The innovative transport solution is aimed to achieve seamless and faster movement of cargo from the port to respective destinations through DPD," said a statement form the company. JNPT has been working on an innovative transport solution to achieve seamless and faster movement of cargo from the port to respective destinations through DPD.
Maersk Line Scale Up Innovative Smart Reefers in India
In the past one year, Maersk Line, the global containerized division of the Maersk Group has enabled movement of multiple consignments of complex cargo out of India successfully, said a press release. Due to its global presence and network, the exporter network of India has been able to successfully reach out to newer geographies. Commenting on the achievement, recently appointed Managing Director for Maersk Line (India, Sri Lanka, Nepal, Bangladesh, Maldives and Bhutan), Steve Felder said, ”In the past 18 months or so, we have expanded our horizon in various new commodity categories.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Piracy, Armed Robbery in Asia Drop in January: ReCAAP
A total of seven incidents of piracy and armed robbery against ships were reported in Asia - five actual incidents and two attempted incidents - in January 2018, compared to 16 incidents reported in December 2017, according to regional piracy watchdog ReCAAP ISC. Out of the seven reported, five were actual and two were attempted incidents. One of these was a piracy incident and six were armed robberies against ships. Five incidents occurred on board ships while at anchor/berth…
APM Terminals Pipavav Profits Slide
APM Terminals Pipavav (Gujarat Pipavav Port Ltd), has announced its financial results for the third quarter ended December 31, 2017. The company reported a net profit of INR 500 million ($7.8 mln) for Q3FY18 as against INR 645 million ($10 mln) in Q3FY17. Total Income for the quarter under consideration stood at INR 1,627 million ($25.5 mln) as against INR 1,692 million ($26.5 mln) in Q3FY17. EBIDTA for the quarter was at INR 947 million ($14.8 mln) and EBIDTA margin stood at 58%.
New Direct Container Service Between Saudi Arabia And India
Qatar Navigation (Milaha), a maritime and logistics conglomerate based in Qatar, has signed an agreement with the Kandla International Container Terminal (KICT) in India, to start the first direct common carrier feeder service between Saudi Arabia and India. The frequency of the first-of-its-kind service will be weekly and will connect the Gujarat port of Kandla directly with Jebel Ali in Dubai, and Dammam and Jubail in Saudi Arabia. The service, named KDX (Kandla Dammam Express)…
Indian LNG Import Tax Halved
India, the world’s fourth-largest buyer of liquefied natural gas (LNG), has announced plans to halve its basic customs duty on imports of the chilled fuel. Indian Finance Minister Arun Jaitley presenting the Budget for 2017-18 in Parliament halved the import duty on LNG to 2.5 per cent, a move that will help cut cost of power and fertiliser production. "Considering the wide range of use of LNG as fuel as well as feed stock for petro-chemicals sector, I propose to reduce the basic customs duty on LNG from 5 per cent to 2.5 per cent," he said.
Somali Forces Clash With Pirates, Free Indian Ship Crew
Somali security forces clashed with pirates early on Wednesday and freed nine seamen kidnapped on an Indian cargo ship this month, officials said. The pirates seized the dhow Al Kausar off Somalia's coast, part of a surge of attacks after years without a reported incident. The kidnappers took the crew onshore in central Galmudug state on Monday and clashed with troops two days later, the territory's minister for ports and sea transport, Burhan Warsame, said. "We rescued the nine crew and they are healthy and safe," he added.
IOC to Acquire 50% Stake in Mundra Terminal
India's state-owned Indian Oil Corporation Ltd. on Friday said it will acquire up to 50 percent stake in Adani Group-backed Gujarat State Petroleum Corp (GSPC) Mundra LNG import terminal in Gujarat for an estimated INR 756 crore (USD 118 million). According to the Press Trust of India, GSPL LNG is a joint venture of Gujarat State Petroleum Corp and Adani Enterprises. Adani and GSPC are equal partners in GSPL LNG. The board of India’s largest oil firm gave “in-principle approval for acquiring up to 50% equity in GSPL LNG Ltd…
MOL to Join LNG Terminal Project in India
Mitsui O.S.K. Lines (MOL) announced the signing of agreements with Swan LNG Private Limited (Swan LNG) for the long-term operation / maintenance of a floating, storage and regasification unit (FSRU) and provision and long-term operation / maintenance of a floating and storage unit (FSU) that will serve as the core receiving facilities in an LNG terminal to be developed by Swan Energy Limited (Swan Energy) in Gujarat, India. The FSRU serving this project is being ordered and owned by Swan Energy through its subsidiary, and MOL has an option to participate in the FSRU joint ownership.
Japan's JICA to Fund India's Alang-Sosiya Shipyards
The Government of India signed a loan deal worth USD 76 million with Japan International Cooperation Agency (JICA), for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards. The total cost of the project will be $ 111 million, out of which $76 million will be provided as soft loan from JICA. Out of the remaining amount, $25 million as taxes and fees will be borne by Government of Gujarat and the balance $10 million will be shared by Ministry of Shipping & Government of Gujarat.
Cochin Shipyard Spreads its Wings
After successfully completing its initial public offer (IPO) recently, India's Cochin Shipyard Ltd (CSL) has lined up expansion projects. The IPO's proceeds will be utilised to fund these expansions. The PTI reported that CSL is now setting sail to newer shores as it looks to set up ship-building and repair facilities in Andaman and Nicobar, Gujarat, Kolkata and Mumbai. The report quoted Nitin Gadkari, Indian Shipping Minister, saying that the government is expanding Cochin Shipyard. CSL will have ship-building and repair facilities in Andaman and Nicobar, Gujarat and Mumbai.
Kandla Port Renamed as Deendayal Port
The Indian Ministry of Shipping has issued a notification renaming Kandla Port Trust as Deendayal Port Trust with effect from 25th of September, 2017. Kandla Port, located on the Gulf of Kutch in Gujarat, is one of the twelve major ports in the country. As per the Ministry’s notification, the Central Government, in exercise of powers conferred on it under Indian Ports Act, 1908, made the amendment to replace “Kandla” with “Deendayal”. While inaugurating various projects at Kandla Port in May this year…
H-Energy to Start West Coast LNG Terminal in May 2018
India's H-Energy Pvt Ltd, a unit of real estate group Hiranandani, will start operations at its liquefied natural gas (LNG) terminal in the western Maharashtra state by May 2018, its chief executive said on Wednesday. India plans to raise the share of natural gas in its energy mix to 15 percent in three years from the current 6.5 percent, according to a plan set out by Prime Minister Narendra Modi's government. H-Energy has invested 17 billion rupees ($261 million) to build its 4 million tonnes per annum (mtpa) regassification terminal near the Jaigarh port in the state…
Cabinet Approves Renaming of Kandla Port
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the renaming of Kandla Port as Deendayal Port. Ports in India are generally named after the city or town in which these are situated. However, the Government, in special cases, after due consideration, have renamed the Ports after great leaders in the past. By renaming Kandla Port as "Deendayal Port, Kandla", a grateful nation would be remembering the invaluable contributions made by one of the greatest sons of India, Pandit Deendayal Upadhyay.
Indian Oil Aims for LNG Import Capacity of 13.5 Mln T in 5 Years
State-owned Indian Oil Corp Ltd aims to have capacity to import about 13.5 million tonnes of liquefied natural gas (LNG) in five years, its head of business development said on Friday, helping India to gradually move to a gas-based economy. Prime Minister Narendra Modi's government wants to raise the share of natural gas in India's energy mix to 15 percent in the next few years from about 6.5 percent now. "We hope to have 13-13.5 million tonnes in a phased manner in about five years," G.K. Satish said.
India to Establish Center of Excellence in Maritime and Ship Building in 2 Cities
A world class Center of Excellence in Maritime and Ship Building (CEMS) is being set up by Ministry of Shipping in collaboration with Siemens and Indian Register of Shipping (IRS) under the Ministry’s flagship Sagarmala Program. CEMS will have campuses at Vishakhapatnam and Mumbai, and will provide industry-relevant skill development, equip students with employable engineering and technical skills in the port and maritime sector and contribute to the Government of India’s ambitious Sagarmala programme.
Protheroe Joins Greystoke Team in Vancouver
Tim Protheroe has joined consultancy Greystoke Marine Management, headquartered in Vancouver. Protheroe is a Master Mariner who came ashore with Lloyds Register in 1992 and worked in several senior positions before being appointed President, Lloyds Register America’s Inc. in 2014. Greystoke recently secured a two-year contract with Swan LNG providing essential marine oversight for the company’s liquefied natural gas (LNG) import terminal development in Gujarat on the north west coast of India.
Adani Adds Two New Dredgers to Its Fleet
India’s largest private multi-port operator Adani Ports and Special Economic Zone Ltd (APSEZ) inaugurated two new 8,000m3 trailing suction hopper dredgers (TSHDs) on January 8. Both dredgers were built by Royal IHC in The Netherlands and recently arrived at Adani’s Hazira Port in Gujarat, India, after their maiden voyage through the Suez Canal. The vessels are the 11th and 12th dredgers supplied by Royal IHC to APSEZ and are among the largest in the Indian fleet of TSHDs. “[The new dredgers] will substantially increase our capacity for dredging.