Tech Mahindra to Manage Indian Ports
Indian Ports Association (IPA) has appointed Tech Mahindra as the Managed Service Provider for five major ports. This is the first such outsourcing deal in the major ports.Tech Mahindra will build and maintain an enterprise business system (EBS) to modernise and automate port processes at five Central government-owned port at Mumbai ,Kolkata, Chennai, Deendayal Port and Paradip Port Trust.This initiative is a major step towards integrating the maritime sector and fostering growth…
Ports to Acquire Controlling Stakes in Dredging Corporation of India
India's three major ports, including Paradip in Odisha, may acquire a stake in Dredging Corporation of India (DCI) based on availability of surplus funds lying with them."In a meeting chaired by Secretary (Shipping) with Chairmen/Chairmen I/C of Major Ports, held on 18th June 2018, the disinvestment proposal of Dredging Corporation of India Ltd (DCI) was discussed," Minister of State for Shipping Mansukh L Mandaviya informed the Parliament."It was suggested that Visakhapatnam Port Trust (VPT)…
India Allocate Funds for Development of Inland Waterways
The Government of India has got a budget allocation of INR 228 crore (USD 35.1 mln) for the development of Inland waterways transport, which also includes INR 126 crore (USD 19.4 mln) for North Eastern Region, for the year 2017-18. The proposal for raising Extra Budgetary Resources (EBRs) of INR 1,000 crore (USD 154 mln) through bonds was approved by Ministry of Finance in 2016-17. Out of INR 1000 crore, INR 340.00 crore was raised during 2016-17. Remaining amount of INR 660.00 crore has been raised in the Financial Year 2017-18.
Indian Ports to Implement RFID
All Major Ports have been directed to implement the Radio Frequency Identification (RFID) system to track the movement of men, materials and vehicles within the port premises on real time basis. Implementation of RFID system will eliminate manual checking of documents at port gate and real time tracking of movement of vehicles, men and materials. This would reduce congestion and also cost of operations at Ports. Ports have been directed to have the RFID system in place by 31.03.2017.
IWAI Signs MoUs Dredging Corporation
Development of Inland Water Transport is a priority of the Ministry of Shipping. After the declaration of 106 new National Waterways, in addition to the existing 5 National Waterways, under the National Waterways Act, 2016, the responsibilities of Inland Waterways Authority of India (IWAI) have increased manifold. To ensure the development of the National Waterways in a time-bound and effective manner, the IWAI in the presence of Nitin Gadkari , Hon`ble Minister of Shipping and…
Essar’s Paradip Terminal Hits Record Throughput
Essar Bulk Terminal Paradip Ltd (EBTPL) has surpassed several of its own performance benchmarks in the first few months of the current fiscal. In the period, EBTPL achieved the highest load rate ever recorded at Paradip port. This was made possible through loading of bigger parcel sizes, faster turnaround of vessels and minimised berth stay durations. EBTPL successfully loaded more than 100,000 tonne of pellets into MV Shravan (sailed) at an average load rate of almost 4,300 tonnes per hour (TPH), which is a record.
India: Big Push on Coastal Shipping of Thermal Coal under Sagarmala
The State Government of Odisha will partner the Ministry of Shipping for taking ahead the ‘port-led development’ agenda under Sagarmala, the flagship program of the Ministry. The State Government has confirmed 10% equity participation in the Special Purpose Venture (SPV) of Indian Port Rail Corporation Ltd (IPRCL) that will be formed for development of a heavy haul rail corridor from Salegaon to Paradip port. This initiative will strengthen supply-side connects from mine to port and will boost coastal movement of 140 MTPA of coal, as envisioned in Sagarmala National Perspective Plan.
India's Paradip Port Mechanization Project Approved
The Cabinet Committee on Economic Affairs (CCEA), Government of India, chaired by the Prime Minister Narendra Modi, has given its approval to the project of Mechanisation of East Quay (EQ) Berths-1, 2 and 3 at Paradip Port on Build, Operate and Transfer (BOT) basis, under Public Private Partnership (PPP) mode' for handling thermal coal exports. The estimated cost of the project is Rs.1437.76 crore of which Rs. 1412.76 crore will be spent by the concessionaire. The remaining Rs.25 crore will be spent by the Paradip Port Trust on dredging.
Essar Ports Profits up by 5%
Essar Ports Ltd. a part of Essar, today announced its unaudited results for the quarter ended 31st December 2014. Revenue for the quarter stands at Rs. 434.3 cr, an increase of 9% over corresponding quarter in FY14. EBITDA at Rs. 359.6 cr in Q3 FY15, an increase of 11% over corresponding quarter in FY14. Commensurately, net profit for the quarter increased to Rs. 98.3 cr which is 5% higher than in the corresponding quarter of FY14. Earnings per Share for Q3 FY15 was at Rs 2.30. Mr. Rajiv Agarwal, Managing Director, Essar Ports Ltd.
Paradip Port on a robust expansion mode
Paradip Port, one of the twelve major ports of India, located close to the mineral rich states on the East coast plans to add significant capacity to meet the ever increasing demand in the region. As a part of its capacity expansion program, Paradip Port Trust intends to develop a Western Dock complex comprising of 6 berths each with a capacity of at least 10 MTPA. In this regard, PPT conducted a conference yesterday for potential investors to present the opportunity and take feedback from the investor community.
Resolve Completes Black Rose Fuel Removal
Salvage crews from international salvage company Resolve Marine Group, Inc. have completed recovery work (11/15/2009) on the Black Rose, an iron ore carrying vessel which sank two months ago in the Bay of Bengal, India. Initially awarding the job to Resolve, the Paradip Port Trust has since issued Resolve a certificate of completion stating that, following the removal of well over 900 tonnes of contaminated fuel oil, the vessel has been cleared to their satisfaction. Chosen for their familiarity with environmentally delicate projects…
Fuel Removal from Capsized Vessel
Salvage crews from international salvage company Resolve Marine Group, Inc. have begun recovery work on the iron ore carrying vessel Black Rose which sank last month in the Bay of Bengal, India. Resolve’s team was awarded the tender by the Paradip Port Trust and will be pumping some 925 tonnes of fuel oil and 50 tonnes of diesel oil, as reported by officials, from the stricken ship which sank with the loss of one life 5km off the Paradip coastline on September 9. The accident spot is close to the Gahirmatha marine sanctuary…
U.S. Firm to Remove Oil from Sunk Ship
According to an Oct. 9 report from The Times of India, Paradip Port Trust authorities said they had selected a U.S. company to pump out oil from Mongolian vessel Black Rose, which sank on September 9. PPT chairman K Raghuramiah said the Florida-based Resolve Marine Group was shortlisted for the task after studying four tenders. (Source: The Times of India)