India's Major Ports See 4.58% Cargo Traffic Growth
Major ports in India have recorded a cargo traffic growth of 4.58 percent and together handled 560.97 million tonnes (MT) of merchandise during the period April 2017 to January 2018, as against 536.41 MT handled during the corresponding period of previous year. For the period from April 2017 to January 2018, eight ports i.e. Kolkata including Haldia, Paradip, Visakhapatnam, Chennai, Cochin, New Mangalore, JNPT and Deendayal have registered positive growth in traffic. The highest growth was registered by Cochin Port (18.36 percent), followed by Paradip (16.01 percent), Kolkata [incl.
DP World, Emirates Shipping Launch GLX
DP World and Emirates Shipping Line (ESL) today announced the launch of a new shipping service GALEX (GLX), a consortium of four vessel operators – ESL, KMTC, RCL and Hanjin. GALEX consists of seven vessels with a capacity of 6,500 TEUs each and reinforces Cochin Port’s position as a transshipment hub with state-of-the-art facilities available to customers. The announcement coincides with the maiden call of a GALEX service at the International Container Transshipment Terminal (ICTT), Cochin today.
Wartsila India Signs Pact with CSL
Wartsila India, the Indian arm of Finland-based Wartsila Corporation, has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Ltd (CSL) for setting up a containerised self-sufficient workshop. As per the MOU, Wartsila plans to locate a containerised self-sufficient workshop within the premises of CSL to cater primarily to propeller blade metallurgical repairs and engine component repairs. Wartsila also plans to support CSL with comprehensive engine services, propulsion services and electrical and automation services based on the requirements, said a press release.
Indian Ports Register Positive Growth of 3.27% in H1
The major ports in India have recorded a growth of 3.27% during the period April to September, 2017 and together handled 383 Million Tonnes of cargo as against 371 Million Tonnes handled during the corresponding period of previous year. The Eight Ports i.e. Kolkata, Paradip, Chennai, Cochin, New Mangalore, Mumbai, JNPT and Kandla registered positive growth in traffic during the period April to October, 2017. The highest growth was registered by Cochin Port (17.66%), followed by Kolkata [incl. Haldia], New Mangalore, Paradip with growth of about 12%.
Technology Drives Growth of India’s Major Ports
Technological advancement for modernization of major ports and reforms for enhancing ease of doing business are driving and sustaining the growth trend line at India’s major ports. The country’s 12 major ports together handled 273.96 Million Tonnes of cargo between April to August, 2017 as against 265.31 Million Tonnes handled during the corresponding period of previous year, an overall growth of 3.26%. Seven Ports (Kolkata, Paradip, Chennai, Cochin, New Mangalore, Mumbai and JNPT) registered positive growth in traffic during the period April to August 2017.
India Government Sops for Ship-Repairing Facilities
In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast at present in the country.
Ship Bonded to Leave Port After Marines Accidentally Shot Fishermen
Nearly six weeks after marines on board the Enrica Lexie allegedly killed two fishermen, mistaking them for pirates, the Kerala High Court has cleared the decks for Italian tanker Enrica Lexie to leave Kochi if the ship's owners furnished a bond of Rs 3 crore, according to a report in the Times of India newspaper. The High Court also directed Dolphin Tankers, Enrica's owners, to furnish an undertaking that the ship, which has been detained off Cochin port since February 15, would be produced before any competent authority in India on a notice of three weeks.
International Ship Repair Facility at Cochin Shipyard
The Minister of Shipping in India, Nitin Gadkari has said that Cochin is all set to become a global ship repair hub. He was speaking at Cochin, after laying the foundation stone for a INR 970-crore (USD 148 million) International Ship Repair Facility (ISRF) for Cochin Shipyard Limited. The facility is being built at Cochin Port Trust where CSL has leased out a 40-acre plot for the project. The International Ship Repair facility will be a State of the Art facility that can handle a major chunk of small and medium sized vessels plying in India.
Cochin Shipyard Gears Up for IPO
India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources, CSL is all set to file documents for its IPO of Rs 600 crores ($90 million) with the Securities and Exchange Board of India (SEBI). The plan is part of its effort to expand and construct larger vessels and also undertake ship repair and fabrication. In addition, the government will sell 10% of its stake through the IPO.
Indian Ports to Introduce RFID System
India's all major ports have been asked to put in place the RFID system to ensure real-time tracking of vehicles and men at ports. "All major ports have been directed to implement RFID (Radio-Frequency Identification) system by March 31, 2017. Implementation of RFID system will eliminate manual checking of documents at port gate and ensure real-time tracking of movement of vehicles, men and materials," Minister of State for Shipping Pon Radhakrishnan stated. This would reduce congestion and also cost of operations at Ports, he said.
Indian Ports Record 6.2% Growth in Cargo Traffic Last Q
According to the Ministry of Shipping in India, the 12 major ports in the country together handled 159.0 million tonnes of cargo in the first quarter of the current fiscal (April-June 2016-17), against a cargo traffic of 149.74 million tonnes in the similar quarter of the previous fiscal, a year-on-year growth of 6.2 per cent. The joint secretary (ports) Pravir Krishn said the growth in cargo traffic showed some buoyancy, growing at 6.2 per cent in April-June FY17 against the 4.5 per cent growth recorded in April-June FY16.
Bright future for Bunkering at Indian Ports
Hinode’s 5th Annual conference on the Outlook for bunkering and Marine Lubricants in India clearly acknowledged the fact that India was well on its way to becoming a Bunkering destination. Lack of infrastructure, duties, quality of bunkers, etc., were issues now in the process of getting resolved and the government was actively engaged in putting necessary infrastructure in place. With the evolving scenario speakers at the conference agreed that ample opportunities exists for players to make it big in the bunkering business.
SCI expands its Coastal Shipping Services
The new restructured SMILE Service synergizes Shipping Corporation of India’s (SCI) Services with Shreyas’s Services and seamlessly links up Persian Gulf with East Coast of India and West Coast of India, thereby, further strengthening and expanding SCI’s presence in the Coastal Shipping Sector. The working together of two Lines, i.e., The SCI and Shreyas, on this route will be a force multiplier for SCI which will provide a high quality of Coastal Services on fixed day fixed window and will set the agenda…
SCI Adds Katupalli, Visakhapatnam to Its SMILE Service
India's Largest shipping Company, the Shipping Corporation of India (SCI) in its continuous efforts to facilitate shipping solutions to the Indian trade has now upgraded the Coastal ports of call on the SMILE Service to include Katupalli and Visakhapatnam on East Coast.The SMILE service is a dedicated SCI Service, having 3 x 1600 teu Indian Flag vessels, catering to the Coastal trade on both the West Coast of India as well as the Gulf Markets. This is SCI’s maiden call at Katupalli (Chennai) and the SMILE service’s maiden call at Visakhapatnam.
Buoy Tender Vessel Delivered Ahead of Time under IRClass
IRClass (Indian Register of Shipping) has just completed the new construction survey of a high value, technologically sophisticated Buoy Tender cum multi-purpose vessel built by Cochin Shipyard Ltd (India) under single class.The new vessel MV Indira Point, 72 mts long,1350 tons DWT, fitted with Hele-deck and a 35 tons capacity crane for handling buoys in deep seaswas handed over to the Directorate General of Light Houses and Light Ships(DGLL India) in April after completing ahead of schedule by the yard under close supervision of IRClass. The vessel, built at a cost of approx.
Cochin Shipyard in Pact with Samsung Heavy Industries
India's state-owned Cochin Shipyard Ltd (CSL) has entered into a Memorandum of Understanding (MoU) with Korean firm Samsung Heavy Industries for technology partnership in constructing liquefied natural gas (LNG) carrying vessels, reports local media. “Cochin Shipyard has signed an agreement with Samsung Heavy Industries to collaborate on building LNG ships,” a shipping ministry official said. The MoU, which was inked after protracted negotiations will enable the city-based public sector yard to respond to a tender for LNG carrier construction soon-to-be-re-issued by GAIL (India).
Investors Enthusiasm in Cochin Shipyard
Indian government is committed for infrastructure development and the track record of last three years has increased the faith of the investors which has resulted in 76 times oversubscription of IPO of Cochin Shipyard (CSL), a government flagship company, said Union Minister of Shipping, Nitin Gadkari. He was the Chief Guest at the inauguration of the renovated BSE international convention Hall and Listing of equity shares of Cochin Shipyard in Mumbai. Speaking on the occasion he signifies the success of government’s economic policies…
Rolls-Royce to Design & Power Buoy Tender for India
Rolls-Royce has secured an £8-million contract to design and power a highly specialised buoy tender vessel for India. The vessel will be built at the Cochin Shipyard Ltd. in India, and is due for delivery in 2015, to operate in remote waters off the east coast of India and around the Andaman & Nicobar Islands maintaining and replacing navigational aids and buoys. The buoy tender vessel is a Rolls-Royce UT 755 S, which is a development of the well proven UT 755 series, and designed to operate safely in the most challenging conditions.
Cochin Shipyard Delivers 17th FPV for Indian Coast Guard
Cochin Shipyard launched the seventeenth in a series of tweny Fast Patrol Vessels (BY 517) being built for Indian Coast Guard, the shipbuilding company said in a press release. The vessel named 'ICGS ARUSH' was launched by Jyothi Devanand, wife of DIG G Devanand, Coast Guard Refit and Production Superintendent, Kochi in a simple ceremony at Cochin Shipyard. Chairman and Managing Director of CSL Cmde K Subramaniam, DIG M V Pathak, Commander District IV and other senior officials of CSL and ICG were present on the occasion.
India Seeks Merchant Banks for Cochin Shipyard IPO
Indian Government has initiated procedures for sale of shares of Cochin Shipyard Limited (CSL) by seeking expression of interest (EoI) from merchant bankers to manage the initial public offering (IPO). The listing will involve the sale of some 33.98m shares, of which 22.66m will be primary and 11.33m secondary shares offered by the country, which wants to offload a 10% stake. Cochin Shipyard had a paid up share capital of Rs1.13bn ($16.65m) and a net worth of Rs15.61bn. "The proposed IPO will see the government reduce its stake in the company by 10%.
India: Mormugao Port bets Big Projects
India government-owned Mormugao has lined up ambitious approx $500 million projects that include capacity augmentation schemes as part of its expansion plans. Mormugao Port Trust (MPT), the Centre-government owned major port at Goa has plans to award nine major projects for expansion, entailing an investment of Rs 3,141 crore, says Press Trust of India. According to MPT Chairman Cyril C George, these projects would be implemented as soon as the approval from Ministry (Road, Transport, Highways and Shipping) are awarded.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Maritime India Summit Attracts $12.5 billion Investment
The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports, State Maritime Boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, Inland Waterways Authority of India etc. Some of the major Indian companies who have signed agreements include the Adanis, Jindal, Vedanta, ESSAR, and Shapoorji Pallonji Company.
Zim Improves Asia-Mediterranean Loops
The Israeli ocean carrier Zim Integrated Shipping Services is upgrading its Asia-Mediterranean service network, comprising the East Med-Black Sea Express, or EMX, and the Asia-India Subcontinent East Med, or AME, by adding new port calls and upsizing tonnage deployment. The upgraded its Asia-Med Services due to commence in mid-October 2015. The improved rotation will include extended port coverage, two weekly calls in Haifa and Ashdod and other improvements suited to the needs of the Asia-Med market.
Nor Lines Launches Cuxhaven RoRo Link
The Norwegian shipping company Nor Lines has started a direct weekly RoRo connection between German Port of Cuxhaven and Norway. The first departure of the liquefied natural gas (LNG)-powered 5,000 dwt short sea cargo vessel MS Kvitbjørn was on May 7. Two new RoRo vessels - vitbjørn and Kvitnos - will be used on this service. ”The favourable location of the CuxPort Terminal, Cuxhaven and its logistics expertise, particularly in the RoRo sector, played a major role in our choice of port,” said Sigurd Ur, Director for Sales & Marketing at Nor Lines.
KPCT Launches New Gulf Service
Containerized volumes are steadily increasing on the East Coast of India. Keeping pace with the growth, Krishnapatnam Port Co. Ltd. (KPCT) now offers a new service to the Gulf sector. Simatechin association with Evergreen Line recently launched a joint CCG Service.The first sailing of this weekly service commenced at KPCT by the maiden call of M.V. Taroko on May 21, 2015. This 28 day service will utilize four container ships of around 2,000 TEU each; three operated by Simatech…