Adani Ports News

Dutch dredging contractor Van Oord reports it is carrying out dredging works in the Port of Krishnapatnam, India.The depth of the port channels must be restored after a severe cyclone Michaung caused siltation in the port area. The Port of Krishnapatnam, now owned by Adani Ports and Special Economic Zone Limited, selected Van Oord for the project.Van Oord said it is deploying trailing suction hopper dredger HAM 318 to dredge the navigation channel of the port to the required depth…

India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Tuesday that it would pay $130 million of its debt early, after nearly $413 million worth of debt has been tendered for early payment.Adani Ports had floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds late last month, as it seeks to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report.

Adani Ports and Special Economic Zone, India's largest private operator of ports, reported a 69% surge in quarterly profit on Tuesday, driven by strong cargo volumes. The company's consolidated profit for the quarter-ended Sept. 30 rose to 16.77 billion Indian rupees ($203 million). It had reported a profit of 9.95 bln rupees a year ago. Revenue from operations surged 33% to 52.11 billion rupees from a year ago. Adani Ports is part of the cooking oil-to-coal mining conglomerate Adani Group, which is run by Asia's richest person Gautam Adani.

The city of Haifa is set to become an increasingly significant east Mediterranean shipping hub, with Chinese and Indian firms buying into its ports as Israel normalizes ties with its Gulf Arab neighbors under a U.S. diplomatic push.Earlier this month, as U.S. President Joe Biden visited the Middle East, India's largest port developer Adani Ports and Israeli minority partner Gadot agreed to buy Haifa Port for 4.1 billion shekels ($1.18 billion).Its founder, Asia's richest man Gautam Adani…

Adani Ports and Special Economic Zone said its acquisition of Haifa Port with a local Israeli partner will boost trade lanes with the company's Indian ports and could better connect Europe and the Middle East in the longer term.After a two-year tender process, Adani Ports and local chemicals and logistics group Gadot clinched the 4.1 billion shekel ($1.18 billion) winning bid for Haifa Port, Israel announced on Thursday.Adani Ports will have a 70% stake and Gadot will hold the remaining 30%…

Israel said on Thursday it will sell Haifa Port, a major trade hub on its Mediterranean coast, to winning bidders Adani Ports APSE.NS of India and local chemicals and logistics group Gadot for 4.1 billion shekels ($1.18 billion).Gadot and Adani made it to the end of a two-year tender process that Israel hopes will lower import prices and help shorten notoriously long wait times at Israeli harbors."The privatization of the port of Haifa will increase competition at the ports and lower the cost of living…

Adani Ports, the largest private ports and logistics company in India, said it has reached a deal to acquire a 100% stake in India’s largest third-party marine services provider Ocean Sparkle Ltd. (OSL).OSL, which provides towage, pilotage, and dredging services, has an asset base of 94 owned vessels and 13 third-party owned vessels, and a team of 1,800 personnel. It is present in all the major ports, 15 minor ports and all three liquefied natural gas (LNG) terminals in India, and also operates in Oman, Saudi Arabia, Sri Lanka, Qatar, Yemen and Africa.

Four investment groups are looking to acquire the Israeli port of Haifa estimated to be valued as high as $600 million with formal bids expected towards October, sources with knowledge of the matter said.Israel is selling its state-owned ports and building new private docks in an effort to encourage competition and bring down costs. At the same time, warming ties with neighboring Arab countries are creating new trade opportunities and Haifa is well placed to become a regional…

The Adani Group will offer a 50% discount on charges to liquefied natural gas (LNG)-fuelled ships at Mundra, India's largest commercial port, according to a notice seen by Reuters, as the country seeks to cut emissions under its green ports plan.Using LNG to fuel ships allows a significant reduction in CO2 as well as of other forms of pollution compared with conventional shipping fuel."Port will offer 50% discount on Port Dues, Pilotage and Berth hire charges," the notice to shippers…

Berthing operations and truck movement were disrupted over the weekend in at least three ports handled by India's Adani Ports and Special Economic Zone Ltd, India's largest port operator, four sources familiar with the matter told Reuters.There was no truck movement at three Adani ports in the state of Gujarat on the west coast, Mundra, Dahej and Tuna, the sources said. Additionally, berthing of container vessels was disrupted at Mundra, they said.Two of the sources said some…

Doha-based liquefied natural gas (LNG) producer Qatargas has supplied a commissioning LNG cargo for India's newest LNG receiving terminal, Mundra.The cargo was loaded in Ras Laffan on 17 January 2020 on the Q-Flex LNG vessel, Murwab, with an overall cargo carrying capacity of 216,000 cubic meters. It arrived at Mundra terminal on 22 January 2020.Mundra is the second LNG terminal that Qatargas helped commission in India within the past year. It followed an earlier commissioning cargo which was delivered by the Company to the Ennore LNG receiving terminal, near the southern Indian city of Chennai, in February 2019.The Mundra terminal is located in Adani Ports and Special Economic zone in the Kutch district of the western Indian state of Gujarat.

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. The purchase consideration will be funded through internal accruals and existing cash balance.The credit metrics of APSEZ consolidated are not expected to change with this transaction. The net debt to EBIDTA of consolidated APSEZ Ltd.

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…

India's two main ports said on Thursday they had been warned by the coastguard and intelligence officials that Pakistan-trained commandos have entered Indian waters to carry out underwater attacks on port facilities.The Mundra Port, run by Adani Ports and Special Economic Zone Ltd, and the state-owned Kandla Port had asked their employees and ship operators to be vigilant, port officials and the ports said in advisories seen by Reuters.Tensions between India and Pakistan have escalated since India revoked the special status of its portion of the Himalayan region of Kashmir on Aug.

Indian authorities are preparing to evacuate 300,000 people along the western coast as a severe cyclone is expected to make landfall on Thursday morning in the state of Gujarat.Storm Vayu, which formed in the Arabian Sea, is likely to cross the Gujarat coast with gust speeds as high as 135 kmph (84 mph), the India Meteorological Department said in a statement.It also warned the cyclone could further delay the progress of the annual monsoon rains over the rest of India, as the storm was drawing rain clouds from over the sea.The arrival of the monsoons on the southern coast of Kerala was already about a week late this year.Gujarat Chief…

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. Adani Ports in March had said it became the first Indian port operator to record a 200 MMT cargo movement.The Press Trust of India quoted Karan Adani…

India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions have been received in the form of Myanmar Investment Commission permit, to build and run a container terminal along the Yangon river for 50-years.APSEZ would be the first Indian company to set up a container terminal outside India, CEO Karan Adani said.Construction for phase one of the project will commence next month and will be completed by June 2021. It is a two-phase project. "Total project cost for both phases would be USD 275-290 million.

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. Amongst the many advantages of Kattupalli port is its unique location – it is located 30 kilometers towards north of Chennai and has connectivity with  hinterland of North Tamilnadu, Chennai,  Bangalore region and South Andhra Pradesh – locations which are highly industrialized.

Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer today said that it had breached the 0.5 Million TEU mark at Hazira Port in FY 2017-18, with year-end throughout touching 500,879 TEUs, corresponding to a remarkable growth rate of 20.7% over 2016-17. With an annual capacity of 1 million TEUs, 2 berths of combined length of 630 metres and quay-side infrastructure comprising 6 QC’s and 16RTG’s, the all-weather port with a deep draft has been able to attract main line services from the world’s largest container shipping companies. Hazira port is well positioned to serve as the ideal alternative gateway to the more established ports on the Western Indian coastline.

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). Vice-President, Growth and Development at the MPA Tony Boemi: “Asia, and especially India, is an emerging market with enormous potential. It and the Port of Montreal are already solidly connected thanks to container services.

India’s largest private multi-port operator Adani Ports and Special Economic Zone Ltd (APSEZ) inaugurated two new 8,000m3 trailing suction hopper dredgers (TSHDs) on January 8. Both dredgers were built by Royal IHC in The Netherlands and recently arrived at Adani’s Hazira Port in Gujarat, India, after their maiden voyage through the Suez Canal. The vessels are the 11th and 12th dredgers supplied by Royal IHC to APSEZ and are among the largest in the Indian fleet of TSHDs. “[The new dredgers] will substantially increase our capacity for dredging.

India's Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of $12 billion Adani Group, saw a 13.65% fall in net profit at INR 710.25 crore (USD 111 million) for the first quarter ended June on account of higher tax. According to PTI report, APSEZ's consolidated revenue from operations for the quarter under review shot up 50 per cent to Rs 2,745 crore from Rs 1,827 crore in the like period year ago. Sequentially, net profit in Q1 was 39 per cent lower than Rs 1,164 crore last quarter while revenue was up 23 per cent from Rs 2,232 crore last quarter. APSEZ handled 50 tonne of cargo, including 6 tonne by its Australian arm Abbot Point Operations Ltd.

India's Ministry of Shipping held a consultation meeting with various stake holders on ‘Policy for Award of Waterfront and Associated Land to Port Dependent Industries in Major Ports’ in New Delhi. The policy was approved by the Union Cabinet earlier this year and is aimed at bringing uniformity and transparency in the procedure for awarding captive facilities at ports. The meeting was attended by various stakeholders from companies such as Indian Oil Corporation Ltd, Bharat Petroleum, Mangalore Refinery and Petrochemicals Limited, Adani Ports, SEPC Power Pvt Ltd, NTPC and industry bodies ASSOCHAM and CII. In depth discussions were held on various aspects of the policy…