Page 5 - Ports

Chabahar Port deal 'landmark' for economic ties with India: Iranian envoy

The signing of the Chabahar Port deal is a 'landmark' in India-Iran economic relations and it offers various future investment opportunities, including the development of subsequent phases of the facility, a top Iranian diplomat said in a note. These opportunities include development of the second phase of Shahid Beheshti Port as well as the third and fourth phases on BOT model, among others, Davoud Rezaei Eskandari, Acting Consul General of Iran in Mumbai, said in the note shared with PTI. India on May 13 signed a 10-year contract to operate the strategic Iranian port of Chabahar that will help it expand trade with Central Asia. The Chabahar Port on the Gulf of Oman - which New Delhi had proposed to develop way back in 2003 - will provide Indian goods a gateway to reach landlocked Afghanistan and Central Asia using a road and rail project called International North-South Transport Corridor, bypassing Pakistan. The long-term agreement was signed by Indian Ports Global Limited (IP

Palghar's priority: Basic infrastructure over ports, bullet trains

The electoral contest is between Maha Vikas Aghadi (MVA) candidate, Shiv Sena (UBT)'s Bharti Bharat Kamdi and BJP's Hemant Savara

After long wait, India inks Chabahar port's 10-year deal with Iran

India's plans with the port go beyond commercial interests, according to the Centre

RINL seeks Andhra's intervention for supply of coal from Gangavaram Port

Andhra Pradesh-based steel maker RINL has sought the state government's intervention to ensure immediate supply of coking coal stuck at Adani Gangavaram Port. The coking coal supply has been stuck since last month due to agitation of workers at AGPL (Adani Gangavaram Port Limited), which is operated by Adani group company Adani Ports and SEZ (APSEZ). In a letter to Visakhapatnam district collector, RINL CMD Atul Bhatt said the operation of the firm is in a highly critical position due to lack of the most essential raw material coking coal which has been stuck at Gangaravam Port since April 12 this year due to agitation of AGPL workers. "We request district administration and police to provide necessary security so that the transportation of critical materials i.e. coal is shifted by RINL peacefully through its own loaders and dumpers," Bhatt said. A query sent to AGPL did not elicit an immediate response. According to Bhatt, more than 1,000 employees of RINL and trade union leader

Private ports outpace central peers in FY24; register double-digit growth

Coastal cargo major booster for private ports last fiscal

Ships moved 9% faster at Indian major ports in FY24 as infra improved

Greater participation by private companies is another reason for improvement

Temporary channel opens for vessels to Baltimore port after bridge collapse

A third temporary channel for boats to enter and depart the Port of Baltimore has opened, expanding further shipping access as collapsed sections of the Francis Scott Key Bridge are salvaged before the span can ultimately be rebuilt. The alternate channel, located to the northeast of the fallen bridge, is open to commercially essential vessels, port officials announced late Friday. The new temporary path, with a controlling depth of 20 feet (6.1 meters), a horizontal clearance of 300 feet (91.4 meters) and a vertical clearance of 135 feet (41.2 meters), allows a greater variety of vessels to access the port while crews work to reopen the main channel, Coast Guard and port Capt. David O'Connell said in a news release. With the new channel open, about 15% of pre-collapse commercial activity will resume, O'Connell said. The first temporary channel opened April 1. The bridge collapsed early March 26 after it was struck by the cargo ship Dali. Officials hope to open a channel by the end

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