Adani to Develop Container Port in Myanmar
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.
Total, India's Adani Join Hands in LNG Sector
French energy major Total and Adani Group have signed an agreement to jointly develop multi energy offers to the Indian energy market. This cooperation includes Liquefied Natural Gas (LNG) and Fuel Retail.The Adani Group is an Indian private conglomerate active in 50 countries and specialized in commodities trading, port infrastructures and logistics, as well as energy production and distribution.This strategic partnership between Total and Adani Group will allow to create a major footprint in LNG business and a new retail network of 1…
NYK Auto Logistics Pact with Adani Logistics
NYK Auto Logistics India (NALI), an NYK Group company, signed an agreement with Adani Logistics(ALL) to form a joint venture that specializes in the transportation of finished vehicles using automobile freight trains.The automotive production volume is expected to further increase in India, and there is increasing demand for transporting vehicles by rail, which places less of a load on the environment.NALI currently provides an integrated transport service for finished cars in India…
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).
Adani Ports Net Dips 14% in Q1
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…
IOC to Acquire 50% Stake in Mundra Terminal
India's state-owned Indian Oil Corporation Ltd. on Friday said it will acquire up to 50 percent stake in Adani Group-backed Gujarat State Petroleum Corp (GSPC) Mundra LNG import terminal in Gujarat for an estimated INR 756 crore (USD 118 million). According to the Press Trust of India, GSPL LNG is a joint venture of Gujarat State Petroleum Corp and Adani Enterprises. Adani and GSPC are equal partners in GSPL LNG. The board of India’s largest oil firm gave “in-principle approval for acquiring up to 50% equity in GSPL LNG Ltd…
Adani Ports PAT Grows by 61%
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and the logistics arm of Adani Group, today announced another stellar operational and financial performance for the quarter and half year ended September 30, 2016. * Consolidated Operating Income registered a growth of 21 % from Rs. 1808 cr in Q2FY16 to Rs. 2183 cr in Q2 FY17. * Consolidated EBITDA increased by 23% from Rs. 1178 cr in Q2FY16 to Rs. 1451 cr in Q2FY17. * Profit after Tax grew by 61% from Rs. 678 cr in Q2FY16 to Rs. 1091 cr in Q2FY17. * EPS for Q2 FY17 was Rs.
IOC Eyes GSPC's Stake in Mundra LNG terminal
Indian Oil Corp. Ltd (IOC) wants to buy debt-laden Gujarat State Petroleum Corp.’s (GSPC) entire stake in the in the under-construction Rs 4,500 crore ($672 million) GSPC-Adani liquefied natural gas (LNG) terminal in Mundra, Gujarat, reports Livemint. GSPC is looking to exit the 5 million tonnes a year LNG import terminal project, which is likely to be completed by mid-2017, says sources. GSPC LNG Ltd, a unit of GSPC, holds a 50% stake in the project with the Adani Group owning 25%; the remaining 25% has been earmarked to be sold to a strategic partner.
Mundra Port handles its largest Vessel
Adani Ports and Special Economic Zone Limited (Adani Ports), one of India’s largest private port developer and operator and part of Adani Group, said its Mundra Port handled the largest parcel size vessel. Adani International Container Terminals Private Limited (AICTPL) Mundra recently set a new record for having achieved the highest number of moves on a single vessel call. Surpassing another record at Adani Mundra Port, 8307 TEUs (Twenty feet equivalent) were handled from MV. MSC Fillippa in 55.5 hours with an GCR of 28.31/hour.
Adani Ports Profit Grows by 31 % in Q1 FY17
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and the logistics arm of Adani Group, has announced operational and financial performance for the first quarter ended June 30, 2016. Consolidated total income (including other income) on a Y o Y basis increased by 11 % to Rs. 2084 cr. ($312 million). Our consolidated EBITDA margin is 64% and Ports EBITDA margin is 71%,both continue to be the best in the industry. Cargo volume handled on a consolidated basis was 42.33 MMT in Q1 FY17, an increase of 7 % Year on Year (Y o Y) .
IOC Mulls Buying GSPC's Stake in Mundra Terminal
Indian Oil Corporation (IOC), the country's largest oil company, is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.4,500 crore ($669 million) Mundra LNG import terminal, according to PTI. IOC is keen to buy a stake in Mundra terminal but does not want GSPC to exit the project completely. IOC wants the state government entity to remain as a part of the project for smooth operations, sources said. GSPC is looking to exit the 5 million tonnes a year LNG import terminal project, which is likely to be completed by mid-2017.
Wärtsilä to Power Two Indian Dredgers
Wärtsilä has won an order for two new 8000m3 trailing suction hopper dredgers being built for the Adani group, India's largest private multi-port operator. The vessels are the first of a new IHC Beagle series designed by Royal IHC (IHC) of the Netherlands. IHC will also build the dredgers. The contract with Wärtsilä was signed in February, 2016. The Wärtsilä scope of supply comprises two 8-cylinder Wärtsilä 32 main engines for the first vessel, and two 7-cylinder Wärtsilä 32 main engines for the second one, together with four Wärtsilä CPPs with shafts.
Adani Ports Profit Up
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, has announced the financial results for the fourth quarter and year ended March 31, 2016. Consolidated cargo across all ports handled by the company was 152 MMT in FY16, an increase of 5 percent, over corresponding period last year, including 3.35 million TEUs, up 17 percent from 2.87 million TEUs last year. Consolidated cargo for Q4FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India.
Adani Offers Dhamra LNG Stake to IOC, GAIL
Adani Group has offered 49% stake in its Rs. 5,000-crore ($750 million) Dhamra liquefied natural gas (LNG) project in Odisha to the state-owned oil and gas companies GAIL India and Indian Oil Corporation (IOC), according to a PTI report. The company has written to the state-owned firms offering them 49% stake in the 5 million tonnes a year liquefied natural gas (LNG) import terminal planned at Dhamra. The Dhamra LNG project, having a capacity of five million tonnes per year, would be operational in 2018-2019.
Adani Kandla Terminal Hits 3.5 MT Volume
Adani Kandla Bulk Terminal Pvt. Ltd. Adani Kandla Bulk Terminal Pvt. Ltd. (AKBTPL) under the concession agreement with Kandla Port Trust (KPT) has successfully over shot the MGT in its 1st year of operations itself. “We at Adani Group share our Chairman’s vision of achieving 200 Million Metric Tons cargo by 2020. This milestone will take us one more step closer to our vision” said Mr. Ennarasu Karunesan, CEO APSEZ Mundra & Tuna Ports. AKBTPL was inaugurated by Hon'ble Minister of Road Transport and Highways and Shipping…
Adani Ports Eyeing Acquisitions
India’s biggest private port operator Adani Ports and Special Economic Zone (APSEZ) is actively looking at acquisitions to complete its “string of pearls” ports strategy, reports Livemint. CEO Karan Adani is leading the drive, it adds. In India, Adani Port is looking to expand its presence in Maharashtra and West Bengal, according to the paper. In overseas markets, the company is scouting for opportunities in Sri Lanka, Bangladesh, the US and Europe, apart from the ports planned in Australia.
Adani Ports Income Up by 15%
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter and nine months ended December 31, 2015. Consolidated total income including other income increased by 15% to Rs.5,779 crores in 9MFY16 as compared to Rs.5,006 crores in the corresponding period last year and the consolidated EBIDTA excluding other income increased by 22% to Rs.3,421 crores in the current nine months as compared to Rs.2,806 crores in corresponding period last year.
Adani Group Buys Two Royal IHC Dredgers
The Adani Group has signed a contract for two IHC Beagle 8 trailing suction hopper dredgers (TSHDs). These two 8,000m3 vessels belong to the standardised IHC Beagle series, designed and built by IHC using over a century of dredging experience. The IHC Beagle series achieves high levels of efficiency and maximum uptime as a result of its uniform design and the use of high-end components. The vessels are reliable performers, with an emphasis on operational excellence. Each comes equipped with IHC’s Trailspeed Controller (TSC) and Eco Pump Controller (EPC).
Adani Ports to Expand Terminal with MSC
Adani Group turns its flagship port and India’s biggest commercial port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co. SA (MSC), the world’s second biggest container shipping line. Adani Ports & SEZ Ltd (APSEZL), part of the Adani Group, said it will expand its existing terminal International Container Terminal Private Limited (AICTPL) at Mundra port to develop it into a transshipment hub.
Adani, Terminal Investment to Create Transhipment Hub at Mundra
Adani Ports & SEZ Ltd (APSEZL), part of the Adani Group, today said it will expand its existing terminal Adani International Container Terminal Private Limited (AICTPL) at its flagship Mundra port. AICTPL is a 50:50 JV with Terminal Investment Ltd, an arm of Swiss-based Mediterranean Shipping Company S.A, the second largest shipping liner in the world. The expansion is being carried out to create a transhipment hub for the Middle East, South Asia and India. Upon completion, AICTPL will emerge as India’s largest container terminal with a total quay length of 1…
Karan Adani Takes Over as Adani Ports' CEO
Adani Group has elevated chairman Gautam Adani’s son Karan Adani to the post of chief executive officer (CEO) of Adani Ports and SEZ (APSEZ) with effect from January 1, 2016. He is currently the executive director of the company and does not hold any board-level position. The decision to appoint him as CEO was taken in a board meeting held on December 28, 2015 and he will replace outgoing CEO Sudipta Bhattacharya, who is moving to the US to take over as the chief executive — North America.
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…
Adani Start Developing Transshipment Port at Vizhinjam
Adani Ports and Special Economic Zone Ltd, (APSEZ), India’s largest port developer and part of the Adani Group, today formally began development of India’s first ever and ambitious international transhipment project in Vizhinjam, Kerala. It shall be completed within the stipulated time period of four years. Honourable Chief Minister of Kerala, Shri Oommen Chandy, along with Union Minister for Transport, Highways and Shipping, Shri Nitin Gadkari, Chairman of Adani Group, Mr. Gautam…