Adani Group News

Astro Offshore, an Adani Group Company, announced the addition of Astro Achernar, its 50th vessel, marking a defining moment in the company’s journey of rapid expansion and continued success.The 88-meter DP2 Diesel Electric Multipurpose Support Vessel (MPSV) is equipped with accommodation for 222 personnel and a 100-ton ACH crane, enhancing Astro’s offshore support and subsea capabilities. The milestone follows a period of growth for Astro Offshore. Over the past six weeks, the company has added seven new vessels to its fleet…

Offshore vessel operator Astro Offshore, an Adani Group company, has acquired five offshore vessels en bloc, raising its fleet size to 49 ships and strengthening its presence in West Africa.The deal includes four platform supply vessels (PSVs), two of which are diesel-electric, and one high-specification 86-meter multipurpose supply vessel (MPSV) equipped with a 160-tonne crane.With the latest additions, Astro now operates 15 DP2 vessels, including five diesel-electric.The strategic expansion builds on the company’s acquisition of two modern PSVs earlier in September…

Sanctioned vessel Noble Walker carrying Russian oil has changed course to India's Vadinar port after the country's Adani Group banned entry of blacklisted ships at its Mundra port, ship tracking data showed on Monday.The Noble Walker, carrying about a million barrels of Russian crude for Indian refiner HPCL Mittal Energy Ltd, was until Friday headed to Mundra, according to shipping reports and data from LSEG and Kpler.The vessel has been blacklisted by the European Union and Britain for breaching sanctions in transporting Russian oil.HMEL did not respond to a Reuters email seeking comment.

Offshore vessel operator Astro Offshore, an Adani Group company, has acquired two modern platform supply vessels (PSVs) and entered the West African market, expanding its global footprint.The vessels, Astro Rastaban (built 2020) and Astro Rigel (built 2023), lift the company’s fleet to 44 vessels and mark its first operations in West Africa.The acquisitions complement Astro’s broader fleet growth plans, which include two diesel-electric anchor handling tug supply (AHTS) vessels due for delivery in the coming weeks and two ballastable barges scheduled for completion late in 2025.The company…

India's Adani Group on Monday denied "any deliberate engagement" in sanctions evasion or trade involving Iranian-origin liquefied petroleum gas, after the Wall Street Journal reported that U.S. prosecutors were probing whether Adani entities had imported Iranian LPG into India through their Mundra port.An Adani spokesperson called the report "baseless and mischievous" in a statement, adding: "We are not aware of any investigation by U.S. authorities on this subject."The WSJ said…

India's Adani Ports and Special Economic Zone Ltd  said on Tuesday it would finance its Colombo port terminal project through internal accruals and a capital management plan, withdrawing its request for funding from the U.S. International Development Finance Corp (DFC).DFC last year said it would provide $553 million in financing for the port terminal project, which is partly owned by the Adani Group. The company, however, said the Colombo West International Terminal project is progressing well and is on track for commissioning by early 2025.DFC did not immediately respond to a Reuters request for comment. Ports-to-edible oils Adani Group…

Israel's ports in the northern city of Haifa were operating at normal capacity despite an escalation in fighting with Hezbollah in nearby Lebanon and the city being targeted by rocket fire, Israeli authorities said on Tuesday.Haifa is Israel's third largest city and handles much of the country's vital seaborne trade. On Monday, sirens sounded across the city for the first time after months of border-area conflict and the military's defence systems fired interceptors at Hezbollah rockets above the Haifa bay.

The U.S. International Development Finance Corporation (DFC) said it will provide $553 million financing for a Colombo port terminal project, partly owned by India's Adani Group, advancing the first foray by an Indian company into the sector.Sri Lanka, an island off India's southern coast, is mired in its worst financial crisis in over seven decades after its foreign exchange reserves ran to record lows last year, forcing its economy to contract by 7.8% in 2022. Ports-to-edible oils Adani group…

A new and deadly chapter of the decades-old Israel-Palestinian conflict is a reality check for an ambitious trade route. The India-Middle East-Europe Economic Corridor (IMEC), championed by Washington last month on the sidelines of the G20 summit in New Delhi and dubbed a Western rival to China’s Belt and Road, had much to prove anyway. The latest conflict presses pause on any grand financial visions involving the neighbourhood.IMEC’s chief backers waxed lyrical about the potential of the trade route involving railways, ports and green energy. U.S.

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.

Protests were temporarily called off at Adani's Vizhinjam seaport in the southern Indian state of Kerala after more than four months of agitation, a protest leader said on Tuesday, but demands to halt port construction were not met.Work by the Adani Group had been paused at the port because of objections from a mostly Christian fishing community, led by Catholic priests, who said the port would cause coastal erosion and undermine locals' livelihoods, calling for a complete halt to the construction.The Adani conglomerate…

Police in southern India on Tuesday ramped up security around the $900 million transhipment port being built by billionaire Gautam Adani's conglomerate after scores of people were injured in clashes with protesters from a Christian fishing community.Construction at the mega port project in Vizhinjam on the southern tip of India has been halted for more than three months by the protesters, who have blocked the site's entrance with a makeshift shelter. They blame the port's development for coastal erosion that has hit their livelihoods, an accusation the Adani Group denies.

Sri Lanka's largest port began on Wednesday construction of a $700 million terminal project, partly funded by India's Adani Group, an official said, marking the first foray by an Indian company into the sector. India has this year provided the most financial support to its southern neighbour, which is facing its worst economic crisis in more than seven decades. India is now keen to see long-term projects by Indian companies take off in Sri Lanka. "Dredging commenced in the morning," Upul Jayatissa, managing director of the state-run Sri Lanka Ports Authority (SLPA), told Reuters.

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.

A subsidiary of global private business group Libra has acquired German tanker company Carl Büttner Holding (CB) for close to $160 million, the unit said on Monday in its latest expansion into shipping.Lomar - Libra's global ship owning and management unit, which has around 50 ships in its fleet including container ships and dry bulk vessels - has completed the acquisition of CB, which has a fleet of chemical and oil products tankers.CB would "benefit from the strength of Libra Group’s network around the world", Libra's executive chairman George Logothetis said."This is an exciting time for Lomar, and we look forward to many innovative and future-thinking announcements to come."Lomar was part of one of the consortiums that bid for the Israeli port of Haifa…

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…

India's Adani Group is preparing to ship the first coal cargo from Australia's most controversial mine, after battling a seven-year campaign by climate activists and defying a global push away from fossil fuels.The Carmichael mine in outback Queensland state is likely to be the last new thermal coal mine to be built in Australia, the world's biggest coal exporter, but will be a vital source of supply for importers such as power plants in India."The first shipment of high-quality…

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…

Kanagawa Dockyard Co. Ltd, Kobe, Japan delivered the tug, Dolphin No. 29 on August 19, 2020, the fourth, in a series of 13 tugs, built for Adani Group. The tug will be engaged in mooring and towing work for berthing and un-berthing at the Adani Vizhinjam Port and on the coast of India.The tow tug has a 55t BP capacity and is equipped with diesel propulsion engines totaling 4,400 PS and Z-drive propellers. The Z driver propeller provides for 360-degrees maneuverability allowing for rapid changes in thrust direction and tug direction.Measuring 34.5m in length, Dolphin No.

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…

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 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.

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 1,500 service-stations.Total, the world’s second largest LNG private player, and Adani, the largest infrastructure conglomerate in India, will serve the fast growing gas demand of the Indian market.