Category Archives: Local News

India’s exports to reach $750 billion by 2018-19: FIEO

India’s exports are expected to reach $750 billion by 2018-19 with improvement in the global trade scenario, apex exporters body Federation of Indian Export Organisations (FIEO) said on Thursday. Global commerce is showing improvement and it is expected to grow … Continue reading

Posted in Local News, Shipping News | Leave a comment

Indian utilities’ April-July coal imports down 1.5% on year: CEA

Indian utilities imported 29.69 million mt of steam coal in April-July, down 1.5% from 30.15 million mt from the same period a year ago, according to the Central Electricity Authority’s latest data seen by Platts Tuesday. Of 29.69 million mt, … Continue reading

Posted in General News, Local News, Shipping News | Leave a comment

Will the Indian imports of Coal revive freight rates for bulkers

India is importing in excess of 18 million tonnes of Coal a month and this figure is likely to increase in the coming months as the busy season begins for the Indian economy. In a note to clients an analyst … Continue reading

Posted in Local News, Shipping News | Leave a comment

India: Private investors may get exit clause in port projects

Private investors in the port sector could get an exit clause in their agreements with major ports with the Union shipping ministry planning to amend the model concession agreement. A proposal to allow companies to exit the long-term agreements is likely to be finalised soon. … Continue reading

Posted in Local News, Port News | Leave a comment

India Tea exports gain 6.7% in H1 2014 on UK, Pakistan demand

Increased purchases by UK and Pakistan enhanced India’s Tea exports during the Jan-June period in 2014. According to India Tea Board, the exports rose 6.7 percent from a year earlier to 94.53 million kg. In the January to June period, … Continue reading

Posted in General News, Local News | Leave a comment

India: Modi promises to cut red tape in shipping sector

Prime minister Narendra Modi has said his government will rid India’s shipping sector of bureaucratic hurdles and undertake a programme to develop many ports and their surrounding areas to turn them into catalysts for economic growth. Addressing a gathering at … Continue reading

Posted in Local News, Port News, Shipping News | Leave a comment

India: JNPT’s satellite port to come up near Mihan

The Union transport ministry has decided to construct a dry port near Mihan in an attempt to boost infrastructure of Vidarbha. The over Rs10,000 crore Centrally-funded port will be in Wardha district as 600 to 700 acre land is not … Continue reading

Posted in Local News, Port News, Shipping News | Leave a comment

India: Paradip Port starts container service for seafood export

The sea food exporters from the state now have a reason to cheer as the Paradip Port Trust (PPT), under Union Ministry of Shipping, has started refrigerated container service. A vessel, Hansa Castella, loaded with100 tonnes of frozenseafood left for Vietnam on August … Continue reading

Posted in Local News, Shipping News | Leave a comment

Earlier we focussed on port development but now we need to move to port-led development: PM while laying foundation stone for JNPT SEZ

The Prime Minister, Shri Narendra Modi, today laid the Foundation Stone of Jawaharlal Nehru Port Trust Special Economic Zone, at Sheva in Navi Mumbai. He also laid the Foundation Stone for widening of Port Connectivity Road from JNPT to the … Continue reading

Posted in Local News, Port News, Shipbuilding, Shipping News | Leave a comment

India: Cochin Shipyard in talks with global firms for LNG vessel

With LNG-vessel construction avenue opening up for the first time in India, Union government-owned Cochin Shipyard Ltd (CSL) has started discussion with global shipping lines to join hands for a bid for the GAIL contract for LNG (liquefied natural gas) contained vessels. GAIL recently invited proposals … Continue reading

Posted in Energy News, Local News, Shipbuilding, Shipping News | Leave a comment

India Iron Ore output slightly up in 2013-14, Steel use dips

India’s Iron Ore production, which was in decline for the past three years due to mining bans in some states, have shown a slight increase in the year 2013-14, while Per Capita Steel consumption has seen a decline in the … Continue reading

Posted in General News, Local News | Leave a comment

India to take stock of relevance of Shipping Corporation, Dredging Corporation

Prime Minister Narendra Modi is said to be taking a keen interest in all matters related to shipping. During a meeting with shipping secretary Vishwapati Trivedi on 21 June, the prime minister made several suggestions that now form part of … Continue reading

Posted in Local News, Port News, Shipping News | Leave a comment

India says Iraq tension made no impact on Crude Oil imports

India announced on Wednesday that the political tension in Iraq has not made any major impact on Indian Crude Oil imports from the country. But the Government has issued directives for public sector oil companies to make contingency plans. Dharmendra … Continue reading

Posted in General News, Local News | Leave a comment

India: Shipping Corp posts Rs49.50 crore profit in Q1

State-run Shipping Corporation of India Ltd (SCI) posted a net profit of Rs.49.50 crore in the quarter ended 30 June. It had posted a loss of Rs.98.70 crore a year earlier. The Mumbai-based company’s first quarter revenue rose to Rs.1,091.29 … Continue reading

Posted in Local News, Shipping News | Leave a comment

India: Wheat and rice exports may fall 15% this year

Wheat and rice export from India are likely to fall about 15 per cent this year due to lower prices in global markets, experts say. It is expected the export will also be affected by a steep rise in import … Continue reading

Posted in General News, Local News | Leave a comment

India: Shipping Corp may exit container business

State-run Shipping Corp. of India Ltd (SCI) may exit its loss-making container shipping business as the Mumbai-based company comes under pressure to do something drastic to reverse three continuous years of losses. The move comes at a time when the … Continue reading

Posted in Local News, Shipping News | Leave a comment

India: Varun Shipping changes debt-cut plan

Varun Shipping, India’s largest liquefied petroleum gas (LPG) tanker operator, has scrapped its plan to exit the very large gas carrier (VLGC) market. It had intended doing so to reduce its debt load. The earlier decision was to exit the VLGC segment by May … Continue reading

Posted in Local News, Shipping News | Leave a comment

Where there is a will, there is a way; yes the task will be enormous: Capt. L.K. Panda

A seminar on “Container Weights- Vagaries and Variances” was organized by CMMI, ICS Mumbai and Shipping Professionals Mumbai at Maritime Training  Institute of SCI on 2nd August 2014. Shippers will be compelled to have their containers weights verified under changes … Continue reading

Posted in Local News, Shipping News | Leave a comment

Adani plans to sell Australian coal terminal for $2 billion

The promoters of Adani Group plan to sell their Abbot Point coal terminal in Australia at close to the acquisition price of $2 billion. They had bought the terminal in May 2011, at the peak of a coal boom. The project was transferred to … Continue reading

Posted in Local News, Port News, Shipping News | Leave a comment

India: Exports from APSEZ unit up 19% in 2013-14

Billionaire Gautam Adani promoted Adani Ports and Special Economic Zone (APSEZ) Ltd may be facing litigation over violation of environmental laws, but the units within country’s biggest multi-product SEZ are doing business as usual with exports growing 19% for the year 2013-14 over the previous fiscal. … Continue reading

Posted in Local News, Port News, Shipping News | Leave a comment

India: Adani Ports Q1 net jumps 36% at Rs 568 crore

Adani Ports and Special Economic Zone Ltd (APSEZ) today reported 36% rise in consolidated net profit at Rs 568 crore for the quarter ended June 30, 2014, helped by a strong cargo volume growth. The company’s net profit in the corresponding … Continue reading

Posted in Local News, Port News | Leave a comment

India thermal coal: Delivered 5,500 NAR pressured by Australian offers

Delivered-India prices for 5,500 kcal/kg NAR coal remained under pressure as availability of cheaper Australian coal attracted Indian buyers, sources said Wednesday. Platts assessed the 30-60 day prices for CFR India East 5,500 kcal/kg NAR coal at $74.65/mt and CFR … Continue reading

Posted in General News, Local News, Shipping News | Leave a comment

India to produce 38.7 mmt of Crude Oil, 36.6 bcm of gas in FY15

India targets to produce 38.7mmt Oil and 36.6bcm of Gas in 2014-15. The Government announced this on Wednesday, releasing its projected oil and gas production target for the next three years (2014-2017). For 2015-16 the Oil output estimate stands at … Continue reading

Posted in General News, Local News | Leave a comment

India: Shipping ministry may redefine role of port rate regulator

The shipping ministry plans to amend a key maritime law to free rates and redefine the role of the tariff regulator for the 12 ports owned by the Union government. An amendment is necessary because the Tariff Authority for Major … Continue reading

Posted in Local News, Port News, Shipping News | Leave a comment