Vipul News

Shipping major AP Moller-Maersk Group's export-import (exim)-focused trade finance arm Maersk Trade Finance is targeting a 33 percent loan disbursal growth at $200 million in 2019 in India.The trade financing solution arm of Danish business conglomerate said that it disbursed a total of USD 0.7 billion globally till date since its inception in 2015, with over 150 million in India in the year 2018, a 53% Y-o-Y increase as compared to 2017.Vipul Sardana, Global Head of Maersk Trade Finance said “Indian SME sector continues to play a significant role in India's economic development. As the sector is gearing up for its digital transformation…

Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.P. Moller-Maersk, is offering to finance shipments and remove the paper trail from financing deals. Maersk says it has no need to ask for collateral - one of the biggest headaches for banks and customers in trade finance deals - because it is carrying the goods on its vessels. In trade finance, banks traditionally act as an intermediary for companies importing or exporting goods, but many are being driven out of shipping.

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. Sanjay Kaul , MD & Chief Executive Officer, NCML, signed the agreement with Capt Unmesh Abhyankar, Chief Executive Officer (Mundra Port) and Mr. Vipul Shah, Head –Sales and Mktg, Adani Hazari port in presence of Mr.

The enthusiasm, dedication and passion for ship building have helped ABG Shipyard Ltd remain in the forefront. Speaking to Maritime Reporter & Engineering News, Major Arun Phatak (right) points out that it is more important to be a responsible shipbuilder demonstrating with solid results rather than empty talk. Unruffled by the slump in shipping freight rates, ABG Shipyard Ltd., the largest private shipbuilder in the country, has persisted on a high-growth trajectory. With a record delivery of 158 specialized and sophisticated vessels to date, the versatility of the shipyard and expertise to build a complex and wide range of vessels speaks volumes about ABG’s potential and vibrant track record.

Ingersoll Rand adds Xe-Series Control to R90-160 Rotary Screw Air Compressors; Xe-Series controllers help reduce plant’s operating costs. Ingersoll Rand, a global leader in compressed air systems and industrial tools and equipment, now features Xe-Series Rotary Compressor Control technology on the R90-160ne Nirvana VSD Premium Efficiency and R90-160n Nirvana VSD Efficiency rotary screw air compressors to optimize plant efficiency. The Xe-Series control is a more convenient and reliable monitoring system that provides a window into all vital compressor data.

India's Kandla port will invite tenders soon for repairs to jetties, buildings and equipment damaged in last month's earthquake. "We will invite tenders in the next few days to repair the port," A.K. Joti said. He said total damages, including civil structures and mechanical and electrical systems, were estimated at $10.8 million. The port would invite several tenders for each job instead of awarding a comprehensive tender to one group, thus enabling work to begin simultaneously, said Vipul Mittra, port deputy chairman. Operations at the country's busiest port were halted on January 26 by the huge quake that struck the western state of Gujarat, killing at least 30,000 people. Partial operations were resumed on February 3.

ABG Shipyard Limited has signed a Memorandum of Understanding (MOU) for acquisition of Vipul Shipyard (Vipul) situated adjacent to the Company’s existing shipyard at Magdalla Port, District- Surat, Gujarat. With this ABG will add substantial land with a good water front to its resources along with slipway and other necessary plant & equipment for shipbuilding. This acquisition would facilitate further expansion of ABG’s shipbuilding activities at the above shipyard and would enable ABG to enhance its shipbuilding capacity from the present 32 to 40 vessels on modular basis in future. This acquisition will facilitate the optimal use of resources in ABG’s existing shipyard & new facility to synergise productivity and achieve economies of scale. Source : Moneycontrol.com