Mitsui OSK Targets 26% Stake in Swan's Indian LNG Unit
Japan's leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India, a company official said, to boost its exposure in the west coast project of Swan Energy. Swan Energy is building a 5 million tonnes a year FSRU and floating storage unit (FSU) at Jafrabad in western Gujarat state, with Mitsui awarded a long-term contract for operation and maintenance services. "We have until end-2019, by when the project will be completed, to buy at least 26 percent in Triumph Offshore," Senior Managing Executive Officer Takeshi told Reuters on Monday, referring to the Swan subsidiary that will control the $260 million FSRU. Swan aims to commission the project in the first quarter of 2020, he added.
India, Ukraine to Partner in Shipbuilding
A Ukrainian delegation led by its Deputy Minister of Economic Development and Trade Ms. Nataliya Mykolska, met Secretary, Ministry of Shipping Shri Ravikant in New Delhi to discuss the potential for developing sustainable partnership between the two countries in the area of shipbuilding. Giving an overview of ship building industry in their country, the Ukrainian delegation invited senior officials of the Ministry of Shipping to visit Odessa and Kiev to study the logistic chain and shipbuilding yards in particular.
Indian Navy Ships Satpura, Kadmatt at Singapore
In pursuance of India’s ‘Act East’ policy, Eastern Fleet ships INS Satpura and Kadmatt are on a 4-day port visit to Singapore from 14 September 17. During the stay in harbour, various activities such as official calls, formal reception on board ships, ships open to visitors, guided tours for Indian naval personnel and professional interaction between naval personnel of both the nations have been planned. With a joint aim to ensure seamless Maritime Domain Awareness (MDA) through optimal utilisation of limited resources at sea…
'Make in India’ - the Newbuzzword in Indian Shipping Sector
The government is aggressively promoting the adoption of ‘Make in India’ campaign including the shipping and port sectors. The Ministry is aiming to raise cargo and passenger movement through waterways from the current five per cent to 30 per cent in the next 15 years. This means that there will be demand for more coastal ships, barges and passenger vessels, which would offer more opportunities to local shipyards. India plans to build seven ports by 2017, using 7.6 billion in public and private funds.
Maersk Training Bullsh on India
Maersk Training, part of the Denmark based A.P. Moller-Maersk, is betting on the Indian training centre, reports the Hindu. India is one of the 10 Centre’s that is making profits. "While other Maersk training centres are facing issues due to downturn in maritime and oil and gas sectors, India is doing a good job by balancing it. We are ready to provide them a helping hand so that they can tap into global talent pool of trainers to get information, knowledge and content to offer high end and niche courses in oil and gas sector…
Technology Drives Growth of India’s Major Ports
Technological advancement for modernization of major ports and reforms for enhancing ease of doing business are driving and sustaining the growth trend line at India’s major ports. The country’s 12 major ports together handled 273.96 Million Tonnes of cargo between April to August, 2017 as against 265.31 Million Tonnes handled during the corresponding period of previous year, an overall growth of 3.26%. Seven Ports (Kolkata, Paradip, Chennai, Cochin, New Mangalore, Mumbai and JNPT) registered positive growth in traffic during the period April to August 2017.
Iran, India SPA No Longer Valid
Last October, Tehran linked its energy dialogue to India’s nuclear diplomacy asking New Delhi to support Iran in the next meeting of the IAEA board of governors in November. That November meeting saw no vote and now Iran is back to flexing its energy muscle ahead of the crucial IAEA meeting this week, the Indian Express reported. After having signed a Sale Purchase Agreement (SPA) last June to export 5 million tons per annum of LNG to India at a price linked to $31-per barrel crude, the National Iranian Gas Export Company (NIGEC) told India that the price agreed to in that pact is no longer valid. This despite the fact that Tehran never raised the issue of a price hike even when international crude had touched $68 a barrel last August.
Allcargo Acquires 2 Vessels for Coastal Operations
Allcargo Logistics has announced the acquisition of two additional vessels aggregating 24000 DWT. for its coastal shipping business. Post this acquisition Allcargo now owns a total of five cargo vessels making it one of the largest players in the logistics industry. The main criterion for this acquisition was to cater to the growing requirements not only of coastal shipping but regional trade and commerce as well. India has over 7,000 km of coastline. Considering India’s demography and strategic location as a global trade hub…
Port of Antwerp Opens New Training Centre in India
Indian port professionals who follow courses given in Mumbai by APEC, the port of Antwerp training centre, can now benefit from a purpose-built training facility. The new facility was officially opened on Monday this week during the annual Port of Antwerp Mission to India, in the presence of Belgian deputy prime minister Alexander De Croo, port alderman Marc Van Peel, APEC principal Kristof Waterschoot, JNPT chairman Shri Neeraj Bansal and Indian Port Association chairman Shri Sanjay Bhatia.
Japan's JICA to Fund India's Alang-Sosiya Shipyards
The Government of India signed a loan deal worth USD 76 million with Japan International Cooperation Agency (JICA), for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards. The total cost of the project will be $ 111 million, out of which $76 million will be provided as soft loan from JICA. Out of the remaining amount, $25 million as taxes and fees will be borne by Government of Gujarat and the balance $10 million will be shared by Ministry of Shipping & Government of Gujarat.
Japanese Navy Ship Teruzuki Visits India
Japan Maritime Self-Defense Force (JMSDF) Ship Teruzuki visited Kochi from 09 to 11 September 2017. Captain Masashi Kondo, Commander Escort Division Six is sailing onboard JS Teruzuki, a destroyer which is being commanded by Commander Seiichi Hashimoto. Captain Masashi Kondo, Commander Escort Division Six accompanied by the Commanding Officer of Japanese Ship Teruzuki had called on Rear Admiral Krishna Swaminathan, VSM, the Chief Staff Officer (Training) of Southern Naval Command (SNC) on 09 September 2017 wherein professional subjects of common interest to both navies were discussed.
India's Coal Imports Causing Port Congestion
Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has twice the number of vessels waiting than its available berths. The over-crowding at Paradip port in eastern Odisha could derail India's efforts to prevent a shutdown of more than half of its power plants which are running on stocks of less than a week in the worst deficit since a massive blackout in 2012. While Power and Coal Minister Piyush Goyal has urged power firms to bring more coal into India - already the world's No.
ST Engineering Injects Capital into Leeboy India
Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK), for flowthrough capital injection into LeeBoy India Construction Equipment Private Limited (LeeBoy India) to provide working capital for LeeBoy India’s operations in India. At the same time, SDGK has purchased shares worth INR9.4m (approximately S$0.2m), approximately 1.2% of LeeBoy India’s total share capital, from LeeBoy India’s management staff. The shares were purchased at the subscription price of INR10 (approximately S$0.21) per share in accordance with the terms of the management staff’s employment contracts.
German Port 'Gateway to India' Celebrates Trade Link
The German trade hub recently opened the 'Gateway to India' at Hamburg's Port Anniversary, the world's largest port festival. Highlights of the 823th port anniversary included the spectacular christening ceremony of the AIDAmar, turning Hamburg's port into the world's largest baptismal font.. Trade relations between Hamburg and India date back to the 16th century. Hamburg is Germany's gateway to India: each year, 300,000 containers to and from India are handled in Hamburg; the trade volume approximates €1.3 billion. Hamburg and India maintain excellent relations in politics, business, science and culture. At the festival, about two million German visitors to the port festival gain an insight into this year's partner country.
Opening of SMM Int’l Trade Fair, India
The world has come to recognize the potential of the Indian shipping industry, its capability to innovate and grow on the global stage, said APVN Sarma, former Secretary, Shipping, at the inaugural SMM India, shipbuilding, machinery & marine technology trade fair and exhibition. “The SMM exhibition is being organised at a very appropriate time”, said Arun K Mago, Chairman, Advisory Council, SMM India 2009. Mago said, “Though India and China were not affected as much as by other developed countries, it has had an adverse affect on the shipping trade. It has been one of the worst moments for the sector in living memory. SMM India 2009 provides a platform for dialogue and business interaction between over 100 exhibitors from all parts of the world.
India’s Shipbuilding Gets Into Shape For The 21st Century
“SMM India could provide ample opportunities for useful interaction between various stakeholders and sharing of knowledge to meet the challenges of the market and make full use of the benefits and opportunities offered by the Indian shipbuilding industry,” says Dr. Satish B. Agnihotri, Director-General Shipping, Ministry of Shipping, Government of India. He is referring not only to the international shipbuilding fair, which is to be held for the second time in Mumbai under the SMM brand…
MTU Expands in India with Engine Test Cell Facility
The Tognum Group company MTU India opened a new engine test cell facility at its MTU India Service Center in Tathawade, Pune (India). The test cell’s dynamometer system is capable of testing all MTU engines up to Series 4000 engines in the range from 300 to 4,300kW, as per MTU test protocol, and for all applications. In February 2010, MTU India opened its new head office for sales and service operations in Pune. The addition of the new engine test cell facility to the MTU India Service Centre brings a new phase in MTU India’s ability to meet its Indian customers’ needs in the region.
India: Iran Port Contract Likely
India will on Monday sign a commercial contract with Iran to build and run a strategic port on Iran's southern coast, the Indian government said on Friday, to help it gain a foothold in Iran and win access to central Asia and Afghanistan. Talks to build the Chabahar port have been on for years but since the scaling back of Western sanctions against Iran, India has pushed hard for the project so it doesn't lose out to other such as China, who are keen to invest. The deal under which India will develop two terminals and cargo berths at Chabahar, on the Gulf of Oman, will be signed during a visit by Prime Minister Narendra Modi to Iran beginning on Sunday.
Hamburg to India Liner Service Upgraded
Within the EU the Port of Hamburg is one of India’s most important commercial partners in seaborne foreign trade. In November the Hamburg Joint Representative Office in Mumbai was officially opened. This is designed to strengthen economic, but also cultural and academic links between the two countries. Supported by Port of Hamburg Marketing, the Hamburg Senate and the Hamburg Chamber of Commerce and already functioning since the beginning of this year, the Representative Office is regarded as the contact point for representatives of the worlds of politics, commerce and culture from Hamburg and India. Thanks to the exchange of information and various events…
Transas Opens Office in India
Transas is opening a new office in Mumbai, India. By establishing the presence on the ground, Transas will be able to more effectively market its capabilities and target the growing opportunities in this strategically important region. By strengthening the presence in India, Transas will also expand into new market segments, like aviation, defence and edutainment. Transas India will continue to closely cooperate with the Company’s long-term Partner in the marine market Elcome Marine Services Pvt. Ltd. Shailendra Shukla will be the new Managing Director of Transas India. Mr. Shukla has been working in Transas since 2007 as a Managing Director of the company’s office in Dubai, UAE.
India's Modi at EU Summit Wants to Defuse Row Over Italian Marine
India blamed Italy for delaying the repatriation of an Italian marine who has been detained in Delhi for four years as Indian Prime Minister Narenda Modi arrived at a summit with the EU in Brussels hoping to defuse the long-running row. In 2012, India arrested two Italian marines who were escorting an oil tanker on suspicion of shooting dead two fishermen they mistook for pirates. Though they were not charged, the pair were barred from leaving India. Massimiliano Latorre was allowed to return home last year for medical treatment. But Salvatore Girone has been confined to Delhi, where he lives at the Italian ambassador's residence and reports regularly to police.
Iran Deal Could Help India Boost Exports by Over a Third
India's exports to Iran could jump by over a third to $6 billion this fiscal year as an easing of sanctions against Tehran would help boost sales of agricultural commodities though competition for non-farm items would rise, a leading trade body said. Iran has been buying most of its basmati rice and sugar from India in the past few years using rupees for its oil due to restrictions on its dollar trades. On Tuesday, Iran and six major world powers reached a deal that will see the Islamic nation curbing its nuclear programme that the West has suspected was aimed at a nuclear bomb. "It's true that some of our exports, especially non-agricultural ones…
Maritime Tribunal Rejects Plea to Free Italy's Marines
An international maritime tribunal on Monday rejected Italy's request that India provisionally release two marines accused of killing two Indian fishermen, a setback for the Italian government after a three-year legal battle. However the International Tribunal for the Law of the Sea in Hamburg also ordered India to suspend legal action against the two Italian marines, saying an international arbitration hearing to be held in The Hague must rule on the dispute. Rome objects to holding a trial in India, arguing that the case should be taken to arbitration under the United Nations Convention on the Law of the Sea and that the incident happened in international waters where national laws do not apply. The Indian government wants Indian courts to try the case.