Page 2 - Container Vessel

ASL acquires Japanese-built vessel, to pursue further fleet growth

Apeejay Shipping Ltd (ASL) on Friday announced the acquisition of a Japanese-built vessel with a deadweight capacity of 76,812 MT. The vessel adds significant strength to the Kolkata-based company's fleet, now totalling 10 vessels and boasting of a combined deadweight tonnage (dwt) of 671,332 MT. The cost and financing details of the acquisition were not shared. "We will continue to look for and acquire more ships and focus on expansion and growth," said Karan Paul, Chairman of the Apeejay Surendra Group. Officials shared that ASL, the third-largest ship owner in India, aims to achieve a capacity of one million tonnes in the future. The announcement of this acquisition coincides with the celebration of ASL's 75th year of existence. In 2022, the Union government announced a range of measures to enhance the tonnage of Indian shipping companies, including subsidies. Meanwhile, an ICRA credit report of July 2022, highlighted ASL's track record, noting its previous acquisitions of th

20 Indian rescued from burning vessel off the Dutch coast return home

A group of 20 injured Indian crew members rescued after a major fire broke out on board a cargo vessel carrying nearly 3,800 cars off the Netherlands coast have safely returned home while the mortal remains of one sailor who was killed in the incident are being repatriated, Indian authorities have said. An Indian crew member was killed and 20 others were injured in the fire that broke out on July 25 on board the Panama-registered ship Fremantle Highway, which was en route from Germany to Egypt. Several crew members were forced to jump overboard. The ship was manned entirely by Indians. "20 Indian crew rescued from ship Fremantle Highway have safely returned to India over the past week. Thank Dutch authorities for their support & assistance as well as our sailors for their fortitude & courage through this difficult time," the Indian Embassy in the Hague said on platform X, formerly known as Twitter. "Mortal remains of one crew member who unfortunately passed away are being ...

Time to spur Vizhinjam project to avoid Ever Alots giving India wide berth

Myriad issues like recent protests by the fisherfolk, back-to-back floods in Kerala, Cyclone Ockhi have taken wind out of Adani Group's sails, forcing its Rs 7,500-cr project to move at snail's pace

India to send aquanauts 500 mtrs under sea this year in Samudrayaan

India will send three explorers to a depth of 500 metres under the sea in an indigenously built vessel, Samudrayaan, this year, an official said. Engineers at the National Institute of Ocean Technology in Chennai have already designed the steel sphere that will house the aquanauts for their journey, he said. However, the plan to send the Samudrayaan to 6,000 metres deep into the sea could be delayed due to difficulty in procuring the titanium sphere capable of withstanding pressure at those depths, the official, requesting anonymity, told PTI on the sidelines of the Indian Science Congress underway here. He said a steel sphere can withstand pressure up to a depth of 500 metres, but will crumple as it cruises deeper, making titanium as the metal of choice. "These are exclusive technologies and no country is ready to part with it. The Ukraine conflict has further aggravated the situation," the official said without elaborating. India's has also set its eyes on achieving a human ...

Container shipping charter rates set for course correction: Report

Container shipping charter rates are set for a course correction after touching historical highs in 2021 and staying elevated so far this year, according to a report. It also expects margins of the Indian shippers squeezing this fiscal even as they will be higher than the pre-Covid level. Charter rates were up 156 per cent year-on-year for the first seven months of this year, according to Crisil Research. Over the remaining months, however, the rates are expected to decline, though still ending the year 40-70 per cent higher, it said. These rates are likely to slide a further 30-50 per cent in 2023 on account of the expected recessionary environment in the majority of the consumption economies and consequent fall in demand for discretionary goods, according to the report. It also noted that a widely anticipated recessionary environment is expected to weigh on demand in key consumption countries in the West towards the end of the year, among other factors for the anticipated furthe

Container D&D charges moderate but still above the 2020 level

Container demurrage is charged for use of a container within a terminal beyond the free period allowed by the shipping line

TCI chalks out strong capex plan over three years; defers FY22 capex

The company is keen on augmenting its marine assets for coastal container cargo as it sees coastal shipping growth to 215 million tonne by 2025 from about 86 million tonne now

Merchant vessels collide in Gulf of Kutch, no casualty, oil spill reported

Two merchant vessels have collided in the Gulf of Kutch, although no casualty or oil slick has been reported in the incident, a defence official in Gujarat said on Saturday. The two merchant vessels - Aviator and Atlantic Grace - collided on November 26 night, the defence spokesperson in the state said in a tweet. Indian Coast Guard (ICG) ships are on standby in the vicinity and monitoring the situation, the official said. "Collision betwn MVs Aviator and Atlantic Grace in GoK on 26 November night. No casualties, oil slick reported. @IndianCoastGuard Ships in the area incl. Pollution Control stand-by in vicinity & monitoring the situation," the Gujarat defence PRO said in the tweet.

Delhi, Chennai to have 'healthcare containers' that can be transported

He said these containers with a capacity of about 200 beds each will be placed in Delhi and Chennai, adding that they can be airlifted or taken by trains to the place of emergency

'Containergeddon': Supply crisis drives Walmart, rivals to hire own ships

Aim is to bypass log-jammed ports and secure scarce ship space at a time when Covid-19, as well as US-China trade ructions, equipment shortages have exposed fragility of globe-spanning supply lines

CBIC extends re-export timeline for imported containers by 3 months

Currently, duty-free imports of containers are allowed with the condition of re-export in the next six months

Concor Q1 consolidated net profit jumps multi-fold to Rs 251 crore

State-owned Container Corporation of India Ltd (Concor) on Thursday reported 409.67 per cent surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30.

Fraught with challenges: Ship salvaging industry rides on rough waters

The rescue of the cargo ship that choked the busy Suez Canal has put the spotlight on a sector

Container vessels to India will lose time window due to Suez traffic

Some bunching at Chennai and JNPT, bulk and liquid vessels to be less impacted

Why the world's container ships grew so big

As global trade has grown, shipping companies have steadily increased ship sizes - but the Suez Canal blockage showed that bigger is not always better

Suez Canal authority expects 140 more ships to pass through the waterway

Egyptian President said the Ever Given's grounding had drawn attention to the importance of the waterway for global trade

Received no compensation claims: Japanese owner of Ever Given ship

UK P&I Club has said that it was the protection and indemnity insurer for the Ever Given

Ship 'partially refloated', but still stuck in Suez Canal to block traffic

The skyscraper-sized Ever Given is stuck sideways in the crucial waterway, creating a massive traffic jam.

Giant vessel blocking Suez Canal freed, logjam of 450 ships to be cleared

Breakthrough in rescue attempt came after diggers removed 27,000 cubic meters of sand, going deep into the banks of the Suez Canal.

Suez Canal stays blocked despite efforts to dislodge massive container ship

The incident has left dozens of vessels gridlocked as they attempted to transit between the Red Sea and Mediterranean