Page 5 - Ports

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

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