Page 15 - Shipping Industry

Global freight rates down 30% YoY; steel, auto, and pharma to benefit

However, average container prices are still 2-3 times higher compared to pre-pandemic levels

Shiprocket becomes first inter-city logistics provider to join ONDC network

Company will enable sellers to select delivery partners to ship products across India

This PSU stock outperformed market, surged 40% in five trading days

In the past three months, the market price of MDL more-than-doubled or zoomed 136 per cent, as against 9 per cent rise in the S&P BSE Sensex.

This shipping company is rerouting its ships. To save blue whales

The Mediterranean Shipping Company (MSC) has started to re-route its ship on the shipping lanes off the Sri Lankan coast in a bid to save the massive blue whales

Binesh Kumar Tyagi takes over as CMD Shipping Corporation of India

Shipping Corporation of India on Monday said Binesh Kumar Tyagi has taken over as its Chairman and Managing Director (CMD). Tyagi was heading the Liner and Passenger Services Division as Director (L&PS) since January 7, 2021 in the company, the PSU said in a regulatory filing. "Captain Binesh Kumar Tyagi has taken over as Chairman and Managing Director of the Shipping Corporation of India Ltd (SCI) with effect from 03.09.2022," it said. Tyagi joined SCI in 1990 as Trainee Nautical Officer (TNOC). He served onboard various ships, in different ranks, including as Master. In 2004, he was absorbed ashore, wherein he served at various management level positions and performed technical, vetting, chartering, training, marine HR, liner, passenger, inland waterways, offshore, among others. Tyagi is an IIM-A alumnus and also member of various professional bodies. Under Ministry of Ports, Shipping and Waterways, SCI is the largest shipping company in India.

Govt may invite financial bids for Shipping Corp sale in March quarter

The government is likely to invite financial bids for privatisation of state-owned Shipping Corporation of India (SCI) in the March quarter, an official said. "The demerger of non-core and land assets of Shipping Corporation is at an advanced stage. The process is expected to be over in about three months' time, after which financial bids will be invited," the official told PTI. The financial bids from potential investors are expected in the January-March quarter, the official added. In May, the board of Shipping Corp had approved an updated demerger scheme for hiving off the non-core assets of SCI to Shipping Corporation of India Land and Assets Ltd (SCILAL) including Shipping House, Mumbai and MTI (Maritime Training Institute), Powai to complete the process of de-merging all the non-core assets to the new company SCILAL. As per the balance sheet of SCI, the value of non-core assets held for demerger as of March 31, 2022, stood at Rs 2,392 crore. In March 2021, the government had

Mazagon Dock Shipbuilders hits new high on heavy volumes; up 27% in 2 days

At 10:49 am; MDL traded 12 per cent higher at Rs 396, as compared to 1.4 per cent decline in the S&P BSE Sense

Cruise control: How to plan for your luxury getaway on the sea

Travel to Singapore, the Caribbean, Dubai, or Goa and indulge yourself on the ship with food and entertainment

GE Shipping rallies 11%; stock hits 52-week high on heavy volumes

Crude tanker freight rates remained around opex levels for most of the year in FY22 but experienced a sudden spurt starting end-Feb 2022 due to the Russia-Ukraine conflict.

INS Vikrant finishes sea trials, to be delivered to navy soon

INS Vikrant will complement the INS Vikramaditya, currently the navy's lone carrier, which was acquired from Russia in 2013

Flipkart Grocery leans on smaller towns in bid to reach 20,000 PIN codes

Flipkart Grocery currently offers 7,000 products in 1,800 cities covering 10,000 PIN codes, served by 23 fulfilment centres spread over an area of 2.75 million sq ft

Alang ship recycling industry fears worker's death may hurt global image

Police case against unit and closure notice are unfair to business facing stiff competition, says association

How shipping industry's $500 bn profit can help it take on Amazon, FedEx

By the end of 2022, the container-shipping industry will have earned a staggering half a trillion dollars of operating profit from two years of supply-chain misery, estimates Drewry

Sagarmala Apex Panel to meet Friday: Monetisation, new projects on agenda

Shipping Minister Sonowal, Nitin Gadkari, Piyush Goyal, and Ashwini Vaishnaw to attend top maritime meet

Crisis in Ukraine impacts global shipping industry

The shortage of skilled personnel at the middle and senior levels can hamper the operations of the shipping lines

Ukraine-Russia war pushes freight charges up. Time to buy shipping stocks?

GE Shipping could see another 5 per cent jump, while other shipping stocks are displaying testing times

Precision Shipyard land to boost shipbuilding capability: Titagarh Wagons

The land and facility was acquired under an auction sale by Union Bank of India

Revenues of Egypt's Suez Canal hit record $6.3 billion in 2021

The revenues of Egypt's Suez Canal in 2021 reached $6.3 billion, the highest in the waterway's history, a top official said here.

Construction of ship repair facility in Guwahati to start from May: Sonowal

This facility is going to be a major contributor to the economic resurgence of the region, a statement said

Govt takes a step towards deregulating PPP tariffs at major ports

Currently, major ports' PPP concessionaires handle around 50 per cent of the total traffic handled by all the major ports in India