Page 3 - Ports

India secures second overseas port: Sittwe agreement approved by MEA

India Ports Global is a company 100 per cent owned by the Ministry of Ports, Shipping and Waterways

Adani Ports set to buy 95% of Odisha's Gopalpur Port for $162 million

Adani Ports will purchase a 56% stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores

V.O. Chidambaranar port sets sight on mega investments like VinFast

This project includes the construction of two container terminals, involving preparatory work such as dredging and building a breakwater at the port

Govt aims to make all inland waterways ports 100% green in 5 yrs: Official

Three ports identified for green hydrogen production pilot, says secretary in ports ministry

India's P&I club for coastal shipping likely to start on domestic waters

Overseas marine insurance covers amounts running into billions of dollars, which India's entity would not be able to undertake initially

Vizag Port signs pact to incorporate traffic management system services

The Visakhapatnam Port Authority on Monday entered into an agreement with the National Technology Centre for Ports, Waterways and Coasts, Chennai for Vessel Traffic Management Systems services. Visakhapatnam Port chairperson M Angamuthu and National Technology Centre for Ports, Waterways and Coasts (NTCPWC) principal scientist D Kumaran Raju signed the deal in the port city. "Vessel traffic management systems is an integral part of modern maritime transportation, where these systems provide a comprehensive solution for monitoring and controlling vessel traffic in port area," said Angamuthu in a press release. For availing vessel traffic management systems services, Visakhapatnam Port will pay Rs 14 crore for a period of 10 years.

India's highest-ever drug bust: 3,300 kg narcotics seized off Gujarat coast

Indian agencies Wednesday made their highest-ever narcotics bust from the sea as they seized 3,300 kg drugs, which sailed from an Iranian port, off the Gujarat coast and arrested five foreigners from a dhow. The cache could be worth anything between Rs 1,300-Rs 2,000 crore in the international market, Narcotics Control Bureau (NCB) Director General S N Pradhan said. Home Minister Amit Shah called the joint operation by the Navy, NCB and the Gujarat Police a "historic success" and a testament of his government's "unwavering commitment to making our nation drug-free". The unregistered fishing boat was intercepted on Tuesday morning at the Arabian Sea from a point about 60 nautical miles from the Indian coast and along the International Maritime Boundary Line (IMBL). The Navy deployed its P8I long-range maritime reconnaissance aircraft and marine commandos onboard a warship apart from helicopters. About 3,300 kg of contraband that includes 3,110 kg charas or Hashish, 158.3 kg of cryst

Dredging Corporation Q3 results: Profit jumps over two-fold to Rs 27.22 cr

Dredging Corporation of India Ltd (DCI) on Tuesday posted two-fold jump in net profit at Rs 27.22 crore for the quarter ended December 31, supported by lower expenses. It had reported a net profit of Rs 13.83 crore for the October-December period of 2022-23, the company said in a BSE filing. Total income fell to Rs 266.23 crore from Rs 372.30 crore a year ago. The company trimmed its expenses to Rs 238.52 crore from Rs 358.10 crore a year ago. In a separate statement, the company said its earnings before interest, taxes, depreciation & amortization (EBIDTA) in Q3 FY24 was at Rs 69.59 crore as against Rs 59.71 crore in the same quarter last year. "The third quarter witnessed successful completion of several significant dredging projects, contributing significantly to our revenue surge. Our expertise in executing complex projects has solidified the company's position as a preferred partner for clients seeking efficient and sustainable solutions," company's Chairman Madhaiyaan ...

Private, state ports' growth outpaces central counterparts till Q3 FY24

At 604 million metric tonne (mmt), cargo at major ports grew by 5 per cent between April and December, while non-major port cargo traffic grew by 11 per cent at 531 mmt

Adani Ports' first bond issue in over 2 yrs lapped up, more coming: Bankers

The fundraising follows the Supreme Court's decision that the group is not required to undergo additional investigations beyond the market regulator's current scrutiny

Centre plans national ranking of all ports amid rapid rise of private ports

The ministry of ports, shipping and waterways has communicated to all port authorities its intent of setting up this database. It has sought various datasets for these rankings, officials said

MSC arm acquires 49% in Adani Ennore Container Terminal for Rs 247 cr

After the completion of the transaction, APSEZ would hold a 51 per cent stake in AECTPL

US govt examined Hindenburg allegations before giving $553 mn loan to Adani

Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from the Adani Group's market value earlier this year

Need to further strengthen ports infrastructure, increase efficiency: Murmu

President Droupadi Murmu on Monday said there is a need to further strengthen the infrastructure of ports in the country and increase their efficiency. Murmu said this while gracing the 'Boita Bandana' (boat worship) ceremony, organised by the Paradip Port Authority here. Boita Bandana is an annual festival observed in Odisha, remembering the ancient maritime glory of the state, earlier known as 'Kalinga'. Stating that the government's Sagarmala programme is a commendable step to strengthen the port activities, Murmu said the Government of India is working to realise the vision of 'Ports for Prosperity' and 'Ports for Progress'. The president said that maritime trade has been playing an important role in the trade and economic development of the country. "I am told that 95 per cent of India's total trade in terms of volume and 65 per cent in terms of value are done through sea transport," she said. Stating that India's ports need to function with greater efficiency in line with glo

Adani Group net profit up 107% in first half of FY24 but sales slow down

Capex at Rs 20,000 cr as ports-to-airports conglomerate grows after controversy over Hindenburg Research's report

Indian Coast Guard, ports, firms discuss readiness for oil spill disasters

Director General of the Indian Coast Guard, Rakesh Pal chaired the 25th meeting of the National Oil Spill Disaster Contingency Plan (NOS DCP) in Gujarat's Vadinagar coast

JSW Infrastructure bags Rs 4,119 crore award for port in Karnataka

JSW Group's ports biz emerged as sole bidder for Keni Port

JSW bags award to develop greenfield port in Karnataka for Rs 4,119 crore

JSW Infrastructure on Thursday said it has received a letter of award to develop an all-weather, deep-water, greenfield port at Keni Port in Karnataka on a public private partnership basis for Rs 4,119 crore. JSW Infrastructure in a statement said the proposed Keni Port would have modern environment-friendly mechanised facilities for handling cape-size vessels. "To begin with, the capacity of the proposed port shall be 30 MTPA (million tonnes per annum) in the initial phase with further potential to increase substantially in the long run," the statement said. Keni Port is envisaged as an all-weather, greenfield, multi-cargo, direct berthing, deep-water commercial port for handling all types of cargoes on the west coast in the North Karnataka region to serve the industries in the area covering Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra, the statement added. The proposed Keni Port is located strategically between two operational major ports viz Mormugao Port in th

Visakhapatnam Port handles record 50 MMT cargo in 228 days in FY2023-24

Visakhapatnam Port has handled a record volume of 50 million Metric Tonnes of cargo in just 228 days in the financial year 2023-24, surpassing its previous record of 50 MMT in 251 days in FY 2022-23. The figures of the milestone achievement were put out in a press release issued by the Visakhapatnam Port Authority (VPA) on Wednesday. VPA Chairperson M Angamuthu praised the efforts of VPA's staff, officers and all stakeholders and exhorted them to maintain the same pace to reach the target fixed by the shipping ministry of 83 MMTPA for the year 2023-24, according to the release.

Kerala Ports Minister faces flak from fishermen over compensation

Kerala Ports Minister Ahammed Devarkovil on Wednesday faced opposition from a group of people while attending an event at Kovalam here related to compensating fishermen in connection with the Vizhinjam port project. A small crowd of fishermen who were dissatisfied with the list of compensation beneficiaries had gathered outside the event venue and prevented his vehicle from entering there, an officer of Kovalam police station said. "The police acted swiftly to prevent any untoward incident, cleared the crowd and ensured the minister's vehicle entered the venue," the officer said. The officer also said that the minister attended the event and then left without any further incident. No case was registered in connection with the incident nor was anyone taken into custody, police said. The Vizhinjam port is being constructed, at a cost of Rs 7,700 crore, under the public-private partnership model. The Adani Group is the private partner in the development of what will become one of th