Container Corporation Of India News

The Indian government plans to invite financial bids for the privatization of Shipping Corp of India Ltd (SCI) next month, as it looks to sell the state-run company after years of delay, two government officials told Reuters.The Prime Minister Narendra Modi-led government had, in 2019, announced plans to privatize a number of state-run companies, including selling its stake in SCI, which was stalled due to regulatory delays.SCI – which owns and operates bulk carriers and crude oil tankers, among others – had to spin off its non-core assets before the government could sell its 63.75% stake, which hit a roadblock over the amount of funds to be transferred to the demerged entity.SCI completed the spinoff last month after getting regulatory approval late in February.This demerged entity…

India has huge potential for enhancing modal share of coastal shipping and inland water navigation. The current share is only 7% unlike countries like China with 24%  and Germany 11%. India looks to tap this segment in a big way.The maiden coastal voyage of a vessel of Container Corporation of India (Concor) was flagged off by Nitin Gadkari, Union Minister for Shipping and  Piyush Goyal, Union Minister for Railways.CONCOR is a public sector unit (PSU) under Ministry of railways. The vessel SSL Mumbai is sailing from Kandla Port to Tuticorin via Mangalore and Cochin. This is a unique example of multi-modal logistics solution through integrated rail and coastal movement.

APM Terminals Mumbai, India handled a record 2.3 million TEUs during its 2017-2018 financial year. This is the terminal’s highest volume since the terminal was built in 2006. The terminal received over 633 vessels over the course of the year. The terminal is no stranger to records. In financial year 2014-2015 the terminal already created the Indian National Maritime Record handling 2.01 million TEUs, approximately 20% of India's containerized cargo. Commenting on the achievement, Ravi Gaitonde, Managing Director of APM Terminals Mumbai said, “This success is a result of the cooperation extended by the entire trade community including the cargo owners, Container Freight Station operators, transporters, rail operators and the port and customs authorities.

Bharat Mumbai Container Terminals Private Limited (BMCT) continued to improve connectivity and ease of doing business for JNPT (Jawaharlal Nehru Port Trust) users with its first barge and train volumes last week. A 90-TEU (twenty-foot equivalent unit) block train departed for Mandideep on 13 March 2018, while a second train left for Nagpur on 16 March. Both trains were operated by Container Corporation of India (Concor). On 18 March, there were both barge and rail movements as Shahi Shipping’s “Royal Hugli” barge loaded 75 TEUs at BMCT for the short marine transit to Mumbai Port Trust; while an export train operated by Concor arrived from Boisar, carrying containers for other terminals in JNPT.

French based CMA-CGM, a member of the Ocean Alliance, began the new INDIAMED service to Mumbai with the arrival of the 5,009 TEU capacity CMA CGM Virginia at APM Terminals Mumbai. The service, linking South Asia with ports in the Arabian Gulf and Mediterranean, was officially introduced on July 2nd, operating with vessels provided by CMA-CGM, its APL subsidiary, and Chinese-based Alliance partner COSCO. The weekly INDIAMED service provides the fastest transit times between India and CMA CGM hub ports in the Mediterranean and Arabian Gulf, and expands the transshipment network through the MEGEM (East Mediterranean to/from Middle East destinations) and MEDEX (West Mediterranean to/from Middle East and Indian Sub-Continent) services.

Container Corporation of India (Concor) has  formed a consortium with APM Terminals B.V., John Keells Holdings and Maersk Line in order to bid for the development of East Container Terminal in Colombo, reports Hindu Business Line. The total project value is likely to be about $550-600 million. The Colombo Port currently has four container terminals. In 2008, a new harbour basin, the Colombo South Harbour was developed to accommodate deep draft vessels and the Sri Lanka Ports Authority (SLPA) decided to develop four new terminals, each with a capacity of 2.4 million TEU’s (twenty-foot container equivalent unit - a measure used in container shipping) to cater to increasing demand.

State-owned Container Corporation of India recorded a 14 percent drop in standalone net profit for the three months to the end of June, the company said in a statement.   Its net profit for the April-June quarter came in at 1.78 billion rupees ($26.67 million), missing expectations.   Analysts had estimated a net profit of 2.01 billion.   Its income from operations for the quarter was 13.39 billion rupees, down 5.7 percent.   (Reporting by Promit Mukherjee)

Contract workers at an Indian port in the commercial capital Mumbai have called off their nearly a week-long strike that backed up more than 25,000 containers of commodities such as sugar, pulses and rapeseed meal. Loading and unloading ground to a halt due to the strike called by contract workers demanding permanent employment at the Gateway Terminals of India (GTI), one of the three terminals of the Jawaharlal Nehru Port Trust (JNPT) that handles 60 percent of India's container cargo. The GTI terminal is operated by the world's leading shipping company Maersk and Container Corporation of India. "Although we couldn't meet their demand as of now…

As Gateway Terminals India (GTI) (one of the private terminal at JNPort, a JV between APM Terminals (APMT) and state-owned rail operator Container Corporation of India) is facing shutdown in operations due to the strike of contractor's employees engaged by Cargotek handling yard crane operations demanding their absorption in GTI pay roll, JNPort has made an all-out effort to regularise the traffic in and around the port. Some of the vessels meant for APMT terminal is being handled at neighbouring terminal of NSICT and NSIGT and JNPCT is handling the reefer export cargoes of GTI. In order to handle these additional vessels over and above their own window vessels, there was lot of pressure on the gates of these terminals and the queue of export Boxes had become long.

Container Corporation of India (Concor) is planning to establish eight container freight stations (CFSs) on India's east coast, reports Ecomonic Times. State-owned logistics services firm expects to ease congestion and improve turnaround time at seaports, helping exports and imports with these new CFSs, that involves $167 million. Concor, specialises in containerised cargo, is looking to expand its network of rail terminals, freight stations and container depots across the country. The CFSs proposed on the east coast are part of this project. According to V Kalyana Rama, executive director of the company, all of these should be up and running over the next two years. In Odisha, the facilities would come up at Jharsuguda, Parjang, Duburi and Muniguda.

Kalmar, part of Cargotec, has signed a contract with Container Corporation of India ltd (Concor) to supply three Kalmar E-One2 rubber tyred gantry cranes to Concor's Tuglakabad terminal in New Delhi. The order is the first between Concor and Kalmar and it has been booked to Cargotec's 2012 fourth quarter order intake. The cranes will be delivered during the last quarter of 2013. Concor is a  market leader in India with over 62 inland container deports and container freight stations. The company was looking for the most technologically advanced and environmentally safe RTGs. "Kalmar's fully electrical RTGs, combined with local support, convinced Concor to choose Kalmar as a supplier.

RTTNews reported that Shipping Corporation of India has floated four joint venture companies for its proposed foray into shipbuilding, container terminal operation, dredging and offshore services. The government-owned ship owner is in final negotiations with South Korean Hyundai Heavy Industries for the shipbuilding JV. The company has also inked with Mediterranean Shipping Company - MSC - along with two other public sector majors, namely, Container Corporation of India - Concor - and Central Warehousing Corporation - CWC - to set up container terminals. SCI disclosed that it has short listed three companies for the venture, in which Hyundai is one among them. SCI has already evinced interest in building two mega shipyards proposed by the government.