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Shreyas Shipping & Logistics signs MoA to acquire one Multipurpose vessel 22 July 2017

Shreyas Shipping & Logistics has recently informed that the company has signed a Memorandum of Agreement (MOA) for acquisition of one Multi-Purpose Vessel of about 1100 Twenty Foot Equivalent Unit (TEU).

The delivery of ship is expected in first week of September 2017 according to the Company’s BSE filing. Shreyas Shipping & Logistics is a part of Transworld Group of Companies, which was established in 1977 by R. Sivaswamy. Commencing operations as a shipping agency in erstwhile Bombay, the group has now diversified into a multi-faceted Shipping and Logistics conglomerate.

The activities of the group include: Ship Owning (Container & Bulk Carrier...

CSL proposes to issue IPO to finance infrastructure project 21 July 2017

The Cochin Shipyard Limited (CSL) has embarked upon two major infrastructure expansion projects - International Ship Repair Facility at a cost of INR 970 crore and construction of new Dry Dock with a cost of INR 1799 crore.

In order to finance these projects it has proposed to issue Initial Public Offer (IPO).

The entire proceeds of the funds raised through IPOs will be used for partial funding of the projects.

This information was given by Minster of State for Shipping and Road Transport and Highways, Shri Mansukh L. Mandaviya in the Rajya Sabha.


Kakinada Container Terminal achieves record throughput on vessel 19 July 2017

Kakinada Container Terminal achieved a significant milestone with the sailing of M.V. SENTOSA STAR V.1710E from Kakinada Port on July 11, 2017.

The throughput achieved for this vessel was a record 1,018 Twenty Foot Equivalent Unit (TEU).

The vessel, which had berthed at 0045 hours on July 10, sailed from the port at 1745 hours on July 11, after an operation encompassing 500 import containers, 374 export boxes, 144 restows and hatch cover moves.

The vessel had sailed in from Colombo to discharge boxes and proceeded to Yangon with shipments of sugar from Kakinada.

All the boxes handled were of BLPL Line. The operational team completed the plann...

Essar Bulk Terminal eyes 50% rise in cargo handling in fiscal 2018 19 July 2017

Essar Bulk Terminal Limited, a special purpose vehicle (SPV) set up under Essar Ports Limited, is looking to a sharp increase in cargo handling at its Hazira port terminal following the company's focus on third-party cargo. In 2016-17, the company registered total cargo handling at Hazira port at 18 million tonnes (mt), which it expects to increase to about 28-29 mt by March 2018.

The company has also signed an agreement with the Gujarat Maritime Board (GMB), the state ports regulator, for expanding its captive jetty by 1,100 meters from the existing 550 meters.

The expanded berthing facility is expected to be ready by the end of fiscal 2018, and will enhance ...

Kandla Port awards channel maintenance dredging contract 18 July 2017

Kandla Port Trust (KPT) has awarded Van Oord the contract to keep the approach channel to the Port up to depth for the next three years.

The approach channel is a crucial gateway to Kandla Port, the country’s leading Major Port.

The dredging activities will commence this month, said a release.

Ton van der Burg, South West Asia Area Manager said that "We are very happy to win this project after having successfully completed several other projects in the Kandla area. We are looking forward to being of service to our client again.”

Trailing suction hopper dredgers Volvox Delta and Volvox Asia will be deployed to maintain the cha...

Govt. approved allocating 2.5% of Road fund for NW 18 July 2017

The Government recently approved allocation of 2.5% of the Central Road Fund for National Waterways (NWs) that would result in about INR 2,000 crore proceeds per annum for their development.

Parliament last year had enacted National Waterways Act, 2016, for developing and maintaining the existing five NWs and 106 new NWs across the Country.

An official said in statement, “The Union Cabinet has accorded its approval to a proposal jointly mooted by the Ministry of Shipping and the Ministry of Road Transport and Highways for amendment of Central Road Fund Act, 2000, to allocate 2.5% of the proceeds of CRF for development and maintenance of NWs and a reduction i...

Kamarajar Port enhancing coal handling capacity 17 July 2017

2 new coals berths are being constructed at Kamarajar Port and the existing iron ore berth is also being converted into a coal berth, which will increase its coal handling capacity by 36 million tonnes per annum (mtpa).

The 3 new berths are expected to be ready by March next year, it is learnt.

A predominantly coal handling facility, the new berths are estimated to take its total handling capacity of the dry fuel to 64 mtpa.


Paradip Port handles 18.63% more cargo in Q1 2017-18 17 July 2017

Paradip Port has handled 24.44 million tonnes (mt) of cargo in the first quarter of 2017-18 (April-June) as against 20.59 mt in the corresponding period of the previous fiscal (2016-17), a growth rate of 18.63%.

Accordingly, the number of vessels handled by the Port increased by 12.34% during the period under review to 437, as compared to 389, informed a release.

The Port has taken a slew of measures to enhance its efficiency, which has ensured improvement in ship day productivity from 22,161 tonnes in 2016-17 to 25,588 tonnes in 2017-18 (up to June 2017), a surge of 15.46%. Average turnaround time has improved from 4.53 days to 4.40 days, while berth occupancy ha...

Paradip Port registers 18% cargo growth in first quarter of FY18 10 July 2017

Paradip port has outpaced all major ports in terms of cargo growth, achieving 18% volume growth in cargo handling in the April-June quarter.

The Paradip Port Trust (PPT) handled 24.44 million tonnes (mt) of cargo during the said period, as compared to 20.59 mt in the corresponding period last year.

The number of vessels handled by the port has accordingly recorded a growth of 12.34% as the port handled 437 ships in FY18 (up to June 2017). In the previous financial year 2016-17, it handled 389 ships during the same period.

The port has already taken a slew of measures to ensure improvement in daily productivity to 25,588 tonnes in FY18 (till June-end), f...

SCI gets another MPSV SCI Saraswati 10 July 2017

The Shipping Corporation of India Limited (SCI) has taken delivery of a secondhand Multi-purpose Support Vessel (MPSV) at Singapore on 07th July 2017 (Friday).

The vessel has been named ‘SCI Saraswati’ and added to SCI fleet. The deadweight tonnage (DWT) of the vessel is 3,719 tonnes and the gross tonnage (GT) is 3,616.

The vessel complies with DPS2 requirements and SPS 2008 code and has been dual classed with Indian Register of Shipping and American Bureau of Shipping. SCI has acquired the resale Multi-Purpose Support Vessel (MPSV) from owner Emerald Marine Global Limited, British Virgin Islands, on 07th July 2017. The vessel has been acquired after u...

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