International Ship Repair Facility at Cochin Shipyard
The Minister of Shipping in India, Nitin Gadkari has said that Cochin is all set to become a global ship repair hub. He was speaking at Cochin, after laying the foundation stone for a INR 970-crore (USD 148 million) International Ship Repair Facility (ISRF) for Cochin Shipyard Limited. The facility is being built at Cochin Port Trust where CSL has leased out a 40-acre plot for the project. The International Ship Repair facility will be a State of the Art facility that can handle a major chunk of small and medium sized vessels plying in India.
Port of Antwerp Boosts Name Recognition in India
The port of Antwerp is taking steps to further boost its name recognition in India, by expanding its network of local representatives and setting up the Port of Antwerp Alumni Association. On the occasion of the recent state visit to India by HM King Philippe of Belgium, three honorary representatives for North, South and West India were appointed by Jacques Vandermeiren, CEO of Antwerp Port Authority, to support the port’s representative office in Mumbai. Further, the setting up of the Port of Antwerp Alumni Association (PA3), will give an additional boost to Antwerp’s reputation in India.
Quadrilateral Coalition on the Indo-Pacific
With an eye on China’s activities in the region, India said that the first meeting of its officials with those from the US, Australia and Japan — described as the “quadrilateral” — agreed that a “free, open, prosperous and inclusive Indo-Pacific region serves the long-term interests of all countries in the region and of the world at large”. "Officials from India’s Ministry of External Affairs, Australia’s Department of Foreign Affairs, Japan’s Ministry of Foreign Affairs and United State’s Department of State met in Manila on November 12…
'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…
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.
OOCL Introduces China Pakistan Express 3
Following its announcement of the China Pakistan Express 2 (CPX2) last week, Orient Overseas Container Line Limited (OOCL) is all set to introduce the China Pakistan Express 3 (CPX3), another new Intra-Asia service to expand its product portfolio by providing a more comprehensive service network connecting the markets of India and Pakistan. The CPX3 provides additional sailing frequency from Central China to Mundra and strategically expands its service coverage in Pakistan. "Together with the CPX2…
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.
LNG Market Outlook by Flex LNG
The LNG shipping market tightened throughout the third quarter, and rates increased sharply in October following gradual increases since May. This was due in part to strong LNG demand from China which helped to widen the arbitrage between spot LNG import prices in Europe, U.S. and Asia. This led to increased cargoes from the Atlantic basin and an associated increase of average sailing distances. The current market dynamic is supportive for a further increase in rates during a seasonally strong period of the year.
India Okays Shipbuilding Financial Assistance Policy
To promote Government of India’s ambitious ‘Make in India’ programme and to encourage domestic shipbuilding by providing a level playing field vis-a-vis foreign shipyards, the Government had approved the Shipbuilding Financial Assistance Policy for Indian Shipyards in December 2015. This policy provides Rs. 4000 Crores (USD 773mln) financial assistance to shipyards for 10 years for contracts secured between 01.04.2016 and 31.03.2026 (including these dates). The Shipyards Association…
Bahri Optimistic of Oil Tanker Market
Bahri, a global leader in transportation and logistics, is very optimistic about the future of the oil tanker market and it believes that there will continue to be demand for this market, said Mohammed Al-Sarhan, Vice Chairman of Bahri, who possesses extensive experience in oil and gas, transportation and logistics, and other sectors. He was talking in the annual Bahri Oil Transportation Forum, which was held in Dubai last week. John Angelicoussis, Chairman of Angelicoussis Shipping Group Limited…
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.
W. Africa Crude: Spot Trade Slows with Flurry of Tenders
Spot trade in west African crude slowed on Friday after a few Indian and Indonesian tenders were issued, though demand was seen recovering after a month in the doldrums with traders looking to do deals ahead of the year end. Demand was muted for November loading due to competing, cheaper alternative U.S. crude exports that have been going increasingly to Asia. Angola's state firm Sonangol was offering a cargo of Olombendo loading Dec. 17 and a cargo of Dalia for Dec. 19-20. Chevron sold a cargo of Agbami to a U.S. refiner.
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.
Latvian Delegation Visits JNPT
Jawaharlal Nehru Port Trust (JNPT) at Mumbai hosted a high-level delegation led by the Prime Minister of Latvia Mr Maris Kucinskis, on 4th November, 2017 . The delegation was on a five day visit to India starting 2nd November, 2017, during which the Latvian PM also met Prime Minister Shri Narendra Modi. The delegation was given a detailed tour of the port to observe various port operations and the implementation of various Ease of Doing Business initiatives. Deputy Chairman of JNPT…
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.