Page 4 - Ports

Gaza war temporary setback for Haifa port regional expansion: Chairman

Adding further momentum, global leaders announced in September a multinational rail and ports deal linking the Middle East and South Asia on the sidelines of the G20 summit

Australia decides against cancelling Chinese firm's lease of important port

The Australian government announced Friday it has decided not to cancel a Chinese company's 99-year lease on strategically important Darwin Port despite U.S. concerns that the foreign control could be used to spy on its military forces. The Department of Prime Minister and Cabinet said it decided after an investigation of the eight-year-old lease that current monitoring and regulation measures are sufficient to manage security risks for critical infrastructure such as the port in the northern garrison city of Darwin. Australians can have confidence that their safety will not be compromised while ensuring that Australia remains a competitive destination for foreign investment, it said in a statement. Landbridge Industry Australia, a subsidiary of Rizhao-based Shandong Landbridge Group, signed the lease with the debt-laden Northern Territory government in 2015. That was three years after U.S. Marines began annual rotations through Darwin as part of the U.S. pivot to Asia. The United

Global Maritime Summit: VPA inks deals with NHAI, Trion worth Rs 1,400 cr

The Visakhapatnam Port Authority (VPA) on Tuesday entered into agreements with the National Highways Authority of India (NHAI) and Trion Properties to execute projects worth Rs 1,400 crore. The port authority inked these deals at the ongoing Global Maritime India Summit, 2023 in Mumbai. VPA exchanged a memorandum of understanding (MoU) with NHAI. As Part of this MoU, NHAI will develop the existing four-lane road into a six-lane one from convent junction to Sheela Nagar. For this, VPA is spending nearly Rs 500 crore, the port authority said in a press release. Similarly, VPA signed an agreement with Trion Properties to develop convention centres, IT office towers and hospitality facilities at an outlay of Rs 900 crore. Further, the port authority has signed a deal with the Indian Navy to develop more facilities in the outer harbour. VPA has set up a stall at the Global Maritime India Summit, 2023.

JNPA unveils projects worth Rs 8,363 cr at Global Maritime India Summit

The country's premier container port Jawaharlal Nehru Port on Tuesday unveils four key projects worth Rs 8,363 crore during the third edition of the Global Maritime India Summit, which was virtually addressed by Prime Minister Narendra Modi. The four projects are: construction of the fourth container terminal, Phase II at JNPA; upgradation, operation, maintenance, and transfer of Jawaharlal Nehru Port Container Terminal (JNPCT); newly constructed additional liquid berth terminal; and port-based multi-product special economic zone (SEZ). With these projects, the port's container capacity will go up significantly by 35 per cent from 7.7 million TEUs (twenty-foot equivalent units ) to 10.4 million TEUs while the liquid cargo handling capacity is expected to surge by 62.5 per cent, Jawaharlal Nehru Port Authority (JNPA) said. Of the four projects, foundation stone was laid for the construction of fourth container terminal-phase II on PPP (public-private partnership) basis by Bharat Mumb

Adani's new mega port at Vizhinjam can lure world's biggest ships to India

Located near the southernmost tip of the country, the Vizhinjam transshipment container port will allow India to grab a bigger slice of the international maritime trade currently dominated by China

Measures in place to ensure safety of employees at Haifa port: APSEZ

Adani Port and Special Economic Zone (APSEZ) on Monday said the company has taken measures to ensure safety of its employees in Israeli port of Haifa and all of them are safe. Israel witnessed an unprecedented multi-front attack by air, land and sea by Hamas, which rules the Gaza Strip, in its southern parts on Saturday morning. APSEZ in a statement said that the company remains fully alert and prepared with a business continuity plan that will enable it to respond effectively to any eventuality. "We are closely monitoring the action on ground which is concentrated in south Israel, whereas Haifa port is situated in the north. "We have taken measures to ensure safety of our employees and all of them are safe," spokesperson of Adani Ports and SEZ Limited said. Earlier this year, the Adani Group acquired the strategic Israeli port of Haifa for USD 1.2 billion. "At a time like this, our thoughts continue to be with the people of Israel," the statement said. According to the statem

Tata Steel signs 500 million pound-deal with UK govt for Port Talbot plant

Tata group chairman, N Chandrasekaran, said the agreement with the UK Government was a defining moment for the future of the steel industry and indeed the industrial value chain in the UK

Stopping by at Galathea Bay

India's proposed transshipment port in the Andamans needs the right development model

New corridor may drive big gains for rail, infrastructure companies

The plan may add to India's energy security and climate goals, according to experts

Multi-billion dollar India-Nigeria infra deal to boost agriculture, ports

The agreement, signed on Sept. 6 with Invest India, is expected to help the West African country industrialize its agriculture and manufacturing sectors and cut reliance on imports

US, Saudi Arabia, India discuss possible rail, port connectivity deal

The plans for a sweeping, multi-national ports and rail deal would come at a critical time. To counter China's Belt and Road global infrastructure push, Biden is pitching Washington

Govt aims to raise capacity of ports four-fold to 10K MTPA by 2047: Sonowal

The government has set itself a target of raising the country's port capacity to more than 10,000 Metric Ton Per Annum by 2047 from the current 2,600 MTPA, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said here on Saturday. The government will soon set up a Bureau of Port Security to upgrade security across all ports in the country, he said at the 19th Maritime States Development Council meeting at Kevadia in Gujarat's Narmada district near the Statue of Unity. "The country's total port capacity will increase from existing around 2,600 MTPA to more than 10,000 MTPA in 2047," a government release quoted him as saying. Sonowal said the country's maritime sector is poised for substantial growth with over Rs 10 lakh crore worth of investment opportunities identified, with the opportunity to generate employment for over 15 lakh youths. "In alignment with this vision, the role of private players is being progressively augmented, with public-private partnership ...

Centre to set up Bureau of Port Security soon: Sarbananda Sonowal

The minister highlighted the Centre's focus on sustainable development and shared about the Ministry's ambitious plan to develop Hydrogen Hubs across the Central Government and State Government ports

West Bengal has Rs 1 trn investment opportunity in port, logistics: Sonowal

Union Shipping Minister Sarbananda Sonowal on Monday said West Bengal has an investment opportunity of Rs 1 lakh crore in the port and logistics sector. He was optimistic about garnering greater interest from domestic and international investors in the 2023 edition of the Global Maritime India Summit. The minister was speaking at the Kolkata roadshow for the summit, which will be held between October 17 and 19 in New Delhi. Sonowal, the union minister for ports, shipping and waterways, is expecting participation from over 100 countries in the ensuing event and a higher number of delegates than the previous 2021 edition of the summit. In the conference two years ago, 475 MoUs were signed worth Rs 3.5 lakh crore, the minister said. He also stated that 75 per cent of the MoUs are "under implementation". The minister stressed the need to unlock investment opportunities in India's maritime sector from both domestic and overseas. He noted that the country has a policy of 100 per cent

Improved capacity, reduced turnaround time: India's ports mean business

Major ports have added more than 100 million tonnes in additional traffic since 2014-15

Mission Hydrogen: Gujarat, Tamil Nadu ports to develop green fuel hubs

The Centre also aims to have two Indian ships that will be powered by green hydrogen or its derivative fuels by 2027

Cargo traffic at major ports declines 1.96% to 64.63 MT in June: IPA

Cargo traffic at the country's major ports declined 1.96 per cent year-on-year to 64.63 million tonnes (MT) in June, with seven ports posting a negative growth while five such facilities saw a surge in traffic, an official release said on Tuesday. There are 12 major ports spanning across India under the administrative control of the central government. These 12 ports are Deendayal (erstwhile Kandla), Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), VO Chidambaranar, Visakhapatnam, Paradip and Kolkata (including Haldia). "During June 2023, the major ports handled 64.63 million tonnes of cargo against 65.93 million tonnes handled during the corresponding period of last year. The overall fall in traffic was 1.96 per cent," Indian Ports Association (IPA) said in a statement. Of the seven ports, which witnessed negative growth in June 2023, VO Chidambaranar Port saw cargo traffic declining 14.15 per cent followed by Kamarajar Port (9.55 per cent drop)

Adani eyes Rs 90,000 cr EBITDA in 2-3 yrs on the back of robust biz growth

Embattled Adani group is eyeing a 20 per cent year-on-year growth in pre-tax profits to reach Rs 90,000 crore EBITDA in 2-3 years on the back of robust growth in businesses ranging from airports to energy, according to a company note. Earlier this month, the group repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. The ports-to-energy conglomerate is now looking at robust growth in sectors such as airports, cement, renewables, solar panels, transportation and logistics, and power and transmission, it said adding several of Adani's new infrastructure investments will also begin to fructify and generate cash in the coming years. Adani is expected to see an increase of more than 20 per cent in EBITDA on a consolidated basis in the coming years as it drives robust and sustainable growth across its business portfolio. Its target EBITDA of over Rs 90,000 ..

Plan in the works to hand over Karachi port terminals to UAE for funds

Finance Minister Ishaq Dar chaired the meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions

Reliance Industries resumes vessel operations at Sikka port in Gujarat

Several ports in Gujarat had suspended cargo operations last week due to unsafe weather conditions at sea