India Pitches for Blue Economy
The government of India has allocated a budgetary support of USD 266mln to shipping sector in the interim budget presented by Interim Finance Minister Piyush Goyal.The government has pitched for development of India’s Blue Economy with the Finance Ministry proposing an impressive USD 77mln under Sagarmala. This allocation was up from USD 53 mln (revised estimates) allocated during 2018-19.Underlining importance of developing India’s 7,500 km long coastline and converting them into industrial hubs, India launched its flagship programme for port development and modernisation, Sagarmala, in 2015.Sagarmala aims at promoting “port-led direct and indirect development” and augmenting infrastructure facilities to “transport goods to and from ports quickly…
Concor Begins Maiden Coastal Voyage
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.
India in Global Hunt for LNG
India is scouting for new liquefied natural gas (LNG) contracts globally as part of a push to secure cheap supplies for its under-utilized gas-fired power plants, reports Bloomberg. Australia, Qatar and Iran could all act as potential suppliers of long-term LNG contracts, power minister Piyush Goyal said in Sydney. The global search for LNG comes as India’s gas-fired plants, which can generate nearly 25 gigawatts of power, run at less than a quarter of their capacity because of a shortage of the fuel at affordable prices. “I think gas needs to be between $5 and $5.50 landed at my power plant. That is what I’m looking for in the medium- to long-term,” Goyal said. In fact, a boom in LNG demand and projects is taking shape in India.
India to Import LNG from Australia
India may contract long-term supplies of liquefied natural gas (LNG) from Australia if price is comparable to Indian coal which remains the fuel of choice for power generation companies in New Delhi. Power Minister Piyush Goyal, who is currently on a visit to Australia for energy dialogue, conveyed India’s willingness to buy Australian LNG during a roundtable in Brisbane. Goyal stated that additionally, opportunities to control the entire value chain right from gas production, liquefaction, shipping, re-gasification and power generation can be evaluated at the current historic low prices of many of these activities. He also stressed that since coal based power is available in India at less than 5 cents per unit…
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.
