Category Archives: Local News

India: Gujarat Pipavav hits new high as Q1 profit beats estimates

Gujarat Pipavav Port has surged 5% to Rs 151, extending its Friday’s 9% rally, after reporting a better-than-expected 128% year-on-year (yoy) jump in net profit at Rs 80.50 crore for the quarter ended June 30, 2014 (Q1), due to strong revenue … Continue reading

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Indian setback helping global iron ore miners

Foreign miners are a little surprised that India, enormously rich in iron ore, is becoming a major importer of the steel-making ingredient. The country could end up importing up to 15 million tonnes (mt) of ore this financial year, with JSW Steel alone … Continue reading

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Coal Reserves Offer No Relief for India’s Fuel Crunch

India sits on one of the world’s biggest coal reserves, yet its power stations are starved of the fuel with some idle and others running dangerously low on supplies. Coal accounts for nearly 60 per cent of the country’s electricity, … Continue reading

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India Blocks WTO Agreement to Ease Trade Rules

India effectively blocked an international agreement on easing trade regulations last week, saying the effort to promote global trade should be linked to food security. At a meeting of the World Trade Organization in Geneva on Friday, India said it … Continue reading

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India liberalizes ship licensing rule

For many years, it has been an annual ritual for India’s shipowners to troop to the office of the directorate general of shipping to get a so-called general trading licence (GTL) renewed. Without such a licence, ships cannot ply, according … Continue reading

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25 Indian sailors stranded off Dubai ‘without pay or relief’ for 8 months

More than two dozen Indian crew members are stranded on two merchant vessels anchored off Dubai’s dry dock because the shipping company “has not paid their salaries for the last eight months or relieved them by sending in substitutes”. The … Continue reading

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Indian shipping industry awaits maritime labour law ratification

Much like mariners of yore waiting for monsoon winds to set sail, the Indian shipping industry awaits parliament’s ratification of the International Maritime Labour Conventionso as not to lose out on merchant traffic, according to industry leaders. With India yet to ratify the … Continue reading

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India not to increase duty on Sugar imports

The India Government has announced that the import duty on Sugar will not be hiked. Local mills have been demanding raising the duty to as much as 40% to help lift prices, which have been pressured by huge stocks. At … Continue reading

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India: Govt frames guidelines for registering ships overseas

The government issued detailed guidelines on a so-called Indian-controlled shipping capacity announced in the budget, making it mandatory for fleet owners to hire Indian crew and provide training slots for cadets on ships registered overseas, in line with the requirements … Continue reading

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India: Essar Ports Q2 PAT at Rs 92 crore, down 10% year-on-year

Despite a marginal rise in revenues on a year-on-year basis and a declined bottomline in the June quarter, Essar Ports, one of the largest port companies in the country, is hopeful of an increase in volumes going ahead as its ongoing … Continue reading

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India’s Jan-June Iran oil imports climb by a third

India’s crude imports from Iran rose by a third in the first half of the year, data from trade sources showed, after the shipments were boosted following an interim deal to slow Tehran’s nuclear activity and ease Western sanctions. India, Iran’s top oil client … Continue reading

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India cuts dependence on Iran oil to less than 6%

India has cut its reliance on Iran for meeting its oil needs to less than 6% as it raised imports from countries like Columbia and Mexico. India imported 11 million tonnes of crude oil from Iran in the fiscal year ending March 31, 2014, down from 13.14 … Continue reading

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India: Kolkata port eyes royalty floor for cargo handling

A six-member committee headed by the chairman of theKochi port, Paul Antony, is likely to recommend regulation of shore handling operations at major ports but Kolkata has come up with its own solution for handling agents for drybulk cargo. The board … Continue reading

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India: Panel proposes cap on bulk cargo charges

A five-member committee of port trust chairmen has recommended to the Union shipping ministry that a ceiling should be imposed on tariffs for loading and unloading of bulk cargo at the 12 so-called major ports in India, but has turned … Continue reading

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Global Audience To Share Knowledge and Expertise in “The Shipping Tribune Conclave 2014″

Colleagues from the Shipping Industry not only in India but also from maritime hubs like Singapore, U.K and US have shown keen interest in The Shipping Tribune Conclave 2014. This conference is being organized on October 6th, 2014 at Holiday Inn, Andheri … Continue reading

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Registering Indian ships overseas to become legal

Local ship owners will not be allowed to register their Indian-flagged shipping fleet in overseas jurisdictions but such permission will be available to ships purchased by them from now on, according to a policy on shipping capacity set to be … Continue reading

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Indo-B’desh coastal shipping trial run to start by Oct 14

India and Bangladesh are set to start coastal shipping by this year and trial runs between the ports in two countries are slated by October 14. “An understanding has been reached between the two countries for commencement of coastal shipping between the ports of Bangladesh … Continue reading

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India: March profit just a blip, not sustainable, says Shipping Corporation of India

The turnaround seen by state-owned Shipping Corp of India (SCI) in March quarter was just a blip, and the profit earned is not sustainable looking at the dismal state of freight rates, said its chairman cum managing director Arun Kumar … Continue reading

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India: Ship recycling industry rejoice after import duty cut

The ship breaking and recycling industry in Gujarat is rejoicing following the Centre’s decision to reduce the import duty on ships imported for breaking by from 5 per cent to 2.5 per cent in the recently announced Union Budget for 2014-15. The … Continue reading

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India: KoPT to pick bulk cargo handlers for Haldia port through bidding

Under pressure from the Union ministry of shipping for more than a year, the Kolkata Port Trust (KoPT) on Friday decided that it will select onshore bulk cargo handlers for Haldia port through bidding—a move that is likely to force … Continue reading

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Chinese Cotton policy derails India’s exports

Cotton in India is reeling under pressure as China, as the largest importer of India’s cotton yarn, is continuing to decrease imports. There is a decline in demand from domestic spinning mills. China’s revised import policy made effective from April … Continue reading

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India runs out of Coal, power plants in crisis

A crisis is looming over India with the country’s coal stocks nearing a critical level . As per the data of the Ministry of Coal the country’s coal requirement for the year 2014-15 stands at 527 MiIlion Tonnes (MT) but … Continue reading

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Indian sailors stranded near Dubai port for 2 yrs

In a shocking case of apathy, 25 Indian sailors on two gas carriers have been stranded near Dubai’s Rashid port for nearly two years now. Seventeen crew members of the Varun Shipping-owned, 1991-built, Singapore-registered Maharshi Bhavatreya and eight crew members of the 1983-built Maharshi … Continue reading

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India: Mumbai HC throws out PIL against PSA terminal in JN Port

The Bombay high court on Tuesday dismissed a public interest litigation (PIL) seeking to prohibit Singapore’s PSA International Pte Ltd from constructing a new container terminal with an investment of Rs.7,915 crore at Union government-owned Jawaharlal Nehru Port near Mumbai. … Continue reading

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