Adani Buys 75% Stake in Krishnapatnam Port
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private sector port operator, has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of INR 13,572 crore (US $1.9 billion). KPCL is located in the southern part of Andhra Pradesh, the state with the second largest coastline of in India, and is a multi-cargo facility which handled 54 MMT in FY19.This acquisition will accelerate APSEZ’s stride towards 400 MMT by 2025.Acquisition value of KPCL is approximately Rs.13,500 cr.
APSEZ to Buy 75% Stake in Krishnapatnam Port
Adani Ports and Special Economic Zone (APSEZ) said on Friday it would buy a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of 135.72 billion rupees ($1.89 billion).The deal will take its domestic market share to 27% from 22% on a pan-India basis, the company said in a filing to exchanges.The port, located in the south eastern state of Andhra Pradesh, is the second-largest private sector port in India and handled 54 MMT of cargo in 2019."APSEZ will target…
Adani Ports Q4 profit up 41%
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator, reported a 41.45 percent surge in its consolidated net profit to INR 1,314.19 crore (USD 188.4million) for the quarter ended on March 31, 2019.However, its revenue fell 3.15 percent to INR 31 billion, said a stock exchange annoucement. Its coal volumes rose 30 percent year-on-year during the quarter, while the cargo volume increased 19 percent.The company also reported a record cargo throughput of 54 million metric tonnes in the three months ended March, according to the filing.
APM Terminals Pushes Solar Energy in India
South Asia's APM Terminals Inland Services, operator of port and integrated inland service networks, is helping set up solar power plants in deep pockets of India.The global terminal network company is providing tailor-made logistics solutions to help overcome transport, technical and procedural challenges.The company is now offering a new end-to-end solution for major solar projects, which includes receiving cargo at the sea-port, facilitating customs inspection and clearance…
Adani Ports Acquires Kattupalli Port
India's largest port developer Adani Ports and Special Economic Zone (APSEZ) has agreed to pick up 97% stake in Marine Infrastructure Developer (MIDPL) from Larsen & Toubro at an enterprise value of Rs 1,950 crore ($284 million). According to a press release from the company, Kattupalli Port is one of the most modern ports in India emerging as Chennai’s New Gateway for EXIM trade in Chennai/Bangalore region and provides a whole new dimension of services with speed and sophistication.
Maersk Line Scale Up Innovative Smart Reefers in India
In the past one year, Maersk Line, the global containerized division of the Maersk Group has enabled movement of multiple consignments of complex cargo out of India successfully, said a press release. Due to its global presence and network, the exporter network of India has been able to successfully reach out to newer geographies. Commenting on the achievement, recently appointed Managing Director for Maersk Line (India, Sri Lanka, Nepal, Bangladesh, Maldives and Bhutan), Steve Felder said, ”In the past 18 months or so, we have expanded our horizon in various new commodity categories.
Maersk Line New Services at Kakinada Port
Maersk Line India announced the introduction of Export and Import service offerings at Kakinada port in Andhra Pradesh. This End to End service (Store Door) will enable customers in the region to reach global touch points. With this first time offering in Kakinada, Maersk Line will be able to containerize cargo at its origin, cut out wastage and complexities of dealing with multiple vendors and help move it to port in a cost-effective manner. This will have a direct bearing on…
India to Establish Center of Excellence in Maritime and Ship Building in 2 Cities
A world class Center of Excellence in Maritime and Ship Building (CEMS) is being set up by Ministry of Shipping in collaboration with Siemens and Indian Register of Shipping (IRS) under the Ministry’s flagship Sagarmala Program. CEMS will have campuses at Vishakhapatnam and Mumbai, and will provide industry-relevant skill development, equip students with employable engineering and technical skills in the port and maritime sector and contribute to the Government of India’s ambitious Sagarmala programme.
HMM’s Direct Weekly ACS Service Flagged Off From Krishnapatnam Port
A direct weekly service of HMM’s (Hyundai Merchant Marine) ACS Service was flagged off, amid lot of fanfare, from Krishnapatnam Port Container Terminal on the February 17, 2017. Inauguration of the maiden vessel call by “M.V. HYUNDAI PRESTIGE”, as part of ACS’s Service, has written a new chapter in the EXIM trade from East Coast of India. The KPCT team conducted a formal inaugural ceremony commemorating the maiden call with Mr. Y.D Park (MD, Hyundai Merchant Marine India) & Mr. Anil Yendluri (CEO, Krishnapatnam Port) launching the service from KPCT. Mr.
Gateway Distriparks CFS at Krishnapatnam Port starts Ops
Gateway Distriparks Ltd. (GDL) today informed that the construction of the first phase its Logistics Park & Container Freight Station (CFS) next to the Krishnapatnam Port Container Terminal has been completed and after receiving all necessary statutory approvals from the Customs Department, the facility is ready to commence operations. GDL has invested Rs. 90 crore in the first phase to develop capacity as follows - 60,000 TEUs in bonded container yard and 50,000 sq. ft. of bonded warehousing, as well as 100,000 TEUs in domestic container yard and 100,000 sq. ft. of domestic warehousing.
Indian Ministry of Shipping Updates on Sagarmala Program
Sagarmala Programme, an ambitious port-led infrastructure development programme of the government to harness India’s 7,500-km, is now moving from the conceptualization and planning to the implementation stage. The National Perspective Plan (NPP), for the comprehensive development of India’s coastline and maritime sector, has been prepared and was released at the maiden Maritime India Summit 2016, on 14th April, 2016, by the Hon’ble Prime Minister. As part of Sagarmala, more than 400 projects, at an estimated infrastructure investment of more than Rs.
Sagarmala: Revolutionizing Logistics Through Port Led Development
Sagarmala, the ambitious program for ‘Port-led development’ in the country is all set to change the logistics sector performance by optimizing India’s logistics modal mix. The flagship program by the Ministry of Shipping will help in reducing the logistics cost for both domestic and EXIM cargo with optimized infrastructure investment. An overall cost savings of approximately $6 billion per annum by 2025 is estimated from the same. According to a study conducted under the Sagarmala programme…
Andhra Signs MoU with Russian Maritime Varsity
The Indian state of Andhra Pradesh (AP) Andhra Pradesh will soon have a world class maritime university. AP has signed a Memorandum of Understanding (MoU) with Russia's State Marine Technical University to promote marine education and technology. The agreement was signed at the port city of St. Petersburg on the first day of AP Chief Minister N. Chandrababu Naidu's visit to Russia on Wednesday. The Chief Minister held consultations with the heads of the university during his tour.
Krishnapatnam Port Inaugurates Maersk Salalah Service
Krishnapatnam Port inaugurated yesterday the maiden call of “M V Maersk Bentonville” as part of the direct weekly service from Krishpatnam to Salalah (Oman). The first voyage of Maersk Bentonville discharged 551 TEU’s and loaded 770 TEU’s of exports. The weekly service is expected to provide fastest and most competitive service to the exporters and importers of Andhra Pradesh, Telangana, Karnataka and Northern Tamil Nadu to the ports of US East Coast, Mediterranean, Europe and Africa. A formal inaugural ceremony was held to commemorate the maiden call in the presence of Mr.
Vedanta to Re-develop Mormugao Port
Vedanta Limited, India’s only diversified natural resources company today received the ‘Letter of Award’ for Redevelopment of Berth No.8, 9 and Barge Berths at Port of Mormugao, Goa (‘Project’) on Design, Build, Finance, Operate and Transfer (DBFOT) Basis. It was handed over to Vedanta’s Iron Ore business CEO, Mr. Kishore Kumar by I.Jeyakumar, Chairman – Mormugao Port Trust in the presence of Road, Transport, Highways and Shipping Minister Mr. Nitin Gadkari at the Maritime India Summit (MIS), 2016 being held at Mumbai. Speaking at the occasion, Mr. Mr.
Maersk to Link Salalah to Krishnapatnam Port
Maersk Line India a unit of Danish conglomerate A P Moller Maersk Group, has launched a new service from Salalah, Oman to the Krishnapatnam Port in Andhra Pradesh. The weekly service to be started from April 17 will connect customers in the areas of AP, Northern Tamil Nadu and Eastern Karnataka directly to Oman and nearby region. Krishnapatnam Port is a privately built and owned all weather, deep water port on the east coast of India, located in the Nellore District of Andhra Pradesh.
Maersk Krishnapatnam Service from April 17th
Maersk starts its Krishnapatnam Service from April 17th and Kattupalli on April 19th, 2016. Both these calls are strategic and are aimed at supporting the growth of local businesses in the hinterland covering Andhra Pradesh, Northern Tamil Nadu and Eastern Karnataka. Commenting on this announcement, Mr. Franck Dedenis, Managing Director, Maersk Line (India and Bangladesh Cluster) said, “Our decision to call on these ports reiterates Maersk Line’s commitment in bringing value to our customers. Both these calls will enable us to be closer to our customers.
IRClass, Indian Navy Deepen Relationship
Indian Register of Shipping (IRClass) strengthened its growing relationship with the defence sector by actively participating in the Maritime Exhibition (MAREX) during the high profile International Fleet Review 2016, organised by the Indian Navy at Visakhapatnam. MAREX focussed on the ‘Make in India’ initiative by showcasing indigenous maritime capabilities. The IRClass stall, which was located adjacent to the stalls of Defence Public Sector Shipyards, was visited by the Prime Minister of India…
Petrogas to Establish LNG terminal in Andhra
Petrogas Private Limited, a joint venture company between Isomeric Holdings Bhd from Malaysia and LEPL Ventures Pvt Ltd (LEPL) from Vijayawada, has signed a facilitation MoU with Krishnapatnam Port Company Ltd (KPCL) and Andhra Pradesh government for setting up a regasification and floating storage Terminal at Krishnapatnam Port. Petrogas will commit a direct funding of over $500 million at Krishnapatnam, SPS Nellore District, Andhra Pradesh within the fields of LNG Regassification Terminal and allied industries.
Reliance Defence Plans Shipbuilding Facility in Andhra
India's Reliance group announced a tie up with Andhra Pradesh government for building a strategic shipyard on the eastern seaboard of the country, which will be co-located with strategic facilities of the Indian Navy and Department of Atomic Energy. The facility is said to be co-located with the Indian Navy’s base and BARC’s nuclear facility at Rambilli, approximately 70 Km south of Visakhapatnam. The new facility would complement the company’s existing facility at Pipavav in Gujarat, with a clear focus on building strategic assets for the Indian Navy.
India: New Opportunities Unveiled in Shipping Sector
The Ministry of Shipping has taken many proactive and progressive interventions in the areas of shipbuilding, port development, inland waterways and coastal shipping this year for the development of the maritime sector in the country. The key initiatives includes Sagarmala Project, Special Purpose Vehicle to provide efficient last mile rail connectivity to Major Ports, Incentive for Shipbuilding and ship-repair Industry, Jal Marg Vikas Project, Customs and Excise Duty Exempted…
Russian-Indian Indra Drills On
India and Russia has began their bilateral naval exercise, Indra Navy, which is aimed at increasing interoperability between the two Navies and developing common understanding of procedures for maritime security operations. Indra Navy is a bilateral maritime exercise between the Indian and Russian navies and epitomises the strategic relationship between the two countries. Russian and Indian warships have left the naval base in the city of Visakhapatnam in India’s south-eastern state of Andhra Pradesh…
Adani Mulls Necklace of Ports in India
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra, Karnataka and Andhra Pradesh, apart from setting up trans-shipment terminals in Southeast Asia and East Africa. “We are also keen to have trans-shipment terminals in Southeast Asia, especially in Myanmar and Bangladesh…
India to Develop 78 Lighthouses as Tourism Centers
The Ministry of Shipping, along with the Directorate General of Lighthouses and Lightships (DGLL) has drawn up an ambitious programme to develop 78 lighthouses in the country as centres of tourism in the first phase under Public Private Partnership (PPP). The identified lighthouses are in Gujarat, Maharashtra, Goa, Karnataka, Kerala, Lakshadweep, Tamil Nadu, Puducherry, Andhra Pradesh, Odisha, West Bengal and Andaman and Nicobar Islands. The land adjacent to these lighthouses may have hotels…
APSEZ, NCML Ink Management & Services Deal
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and a part of Adani Group, a global integrated player, entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major Agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders, Importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from Post harvest storage to export or Import stages. Mr.
APSEZ to Develop Vizhinjam Port
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, has received “Letter of Award” for development of the Vizhinjam International Deepwater Seaport Project from Government of Kerala (GoK). We had keenly participated in this tender to ensure that Kerala gets its first deep water multi cargo port and India gets its first deep water transshipment port which has been missing till date. At present approximately 1.0 Million TEUs of Indian cargo is getting transshipped through foreign ports like Colombo.