IOC to Acquire 50% Stake in Mundra Terminal
India's state-owned Indian Oil Corporation Ltd. on Friday said it will acquire up to 50 percent stake in Adani Group-backed Gujarat State Petroleum Corp (GSPC) Mundra LNG import terminal in Gujarat for an estimated INR 756 crore (USD 118 million). According to the Press Trust of India, GSPL LNG is a joint venture of Gujarat State Petroleum Corp and Adani Enterprises. Adani and GSPC are equal partners in GSPL LNG. The board of India’s largest oil firm gave “in-principle approval for acquiring up to 50% equity in GSPL LNG Ltd…
Cochin Shipyard Delivers 2 RoRo Vessels
The Cochin Shipyard Limited in India delivered two RoRo vessels to the Kochi Municipal Corporation (KMC), Press Trust of India reported. The vessels with modern equipment are expected to provide a great relief to the transportation problems in Kochi, the report said quoting company officials. With a length of 27 metres and 8.25 metres breadth, the vessels can achieve speeds of six knots, it said. The vessels are provided with ramps on either side, both in the forward and aft, eliminating the need for reverse parking of the vehicles on the ferry.
Essar to Develop LNG Terminal at Haldia
India's Essar Ports has won a contract to build the first liquefied natural gas (LNG) terminal in West Bengal under the Kolkata Port Trust (KoPT) at an investment of Rs 450 crore (USD 70 million). A Press Trust of India report said that the LNG project is expected to be commissioned in two years. The facility will come up at the Haldia port with a capacity to store one million tonne of the clean fuel. Haldia Dock Complex under Kolkata Port Trust had earlier this year invited bids for setting up an LNG terminal with storage and distribution facilities.
India to be Global Hotspot for Cruise Shipping
The government of India is working on a policy to make India a global destination for cruise shipping and efforts are on to identify such circuits, besides a slew of steps, to boost infrastructure, Shipping Minister Nitin Gadkari has said. According to a report by Press Trust of India, a high-level task force has been appointed and top global consultants are drawing up blueprint for it. Five circuits each are being identified for international and domestic cruise services and a report is likely by May this year.
Shipping Corp Seafarers on Hunger Strike
Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears. According to a Press Trust of India report, these seafarers, deployed on 15 vessels owned and operated by the Centre, launched their strike demanding revised wages in accordance with the clauses of National Maritime Board Indias agreement. These seafarers have also approached the National Union of Seafarers of India (NUSI) for its intervention.
India to Add Eight Major Ports
As part of its aggressive plans for port-led development, Union Shipping and Ports Minister Nitin Gadkari said he is looking to add eight major ports to the already existing 12, according to a report by Press Trust of India. "We are planning to add eight new major ports, including the three already announced - at Wadhwan in Maharashtra, Sagar in Bengal and Colachel in Tamil Nadu," he said. India currently has 12 major ports and three more are being developed, one each in Maharashtra, West Bengal and Tamil Nadu. The total cost of the three upcoming ports is about Rs 25,000 crore.
Sri Lankan Minister Visits Goa Shipyard
Sri Lanka's Minister of State for Defence Ruwan Wijewardene visited the Goa Shipyard Limited (GSL) at the Vasco town, located around 40 kms from Panaji in India and inspected Sri Lankan ships under construction, the Press Trust of India reported. He inspected the progress of the two Advanced Offshore Patrol Vessels (AOPV) being built for Sri Lanka Navy at Goa Shipyards. Wijewardene held discussion with GSL Chairman and Managing Rear Admiral Shekhar Mital along with the shipyard officials on the progress of the ship building process.
GAIL Postpones $7-bn LNG Ship Tender, Again
GAIL India has deferred a USD 7-billion tender for hiring nine newly-built ships to ferry liquefied natural gas (LNG) from the US by one month. Bids for the tender were to close on February 29 but now have been extended to March 31. The state gas utility is seeking 9 LNG ships of cargo capacity of 1,50,000-1,80,000 cubic metres to help transport LNG it has tied up from Sabine Pass and Cove Point LNG projects in the US, with supplies slated to start from December 2017. Press Trust…
India to Launch Anti-sub Vessel INS Kavaratti
India is all set to launch the last of the four anti-submarine warfare (ASW) class stealth corvettes INS Kavaratti, reports Press Trust of India. Kavaratti, which is 90 percent indigenous, is the last of four ASW class stealth corvettes being built for the Indian Navy under Project 28. The other three ships of the same class are INS Kamrota, Kadmattt and Kiltan. Designed by the Directorate of Naval Design and built by Garden Reach Ship Builders and Engineers, the contract for the construction of four P28 ships was signed in June, 2012, with the project priced at Rs 7,800 crore.
China Lures India with Deep Sea Mining Cake
A week before Indian Prime Minister Narendara Modi is set to visit the country, China said it was ‘eager to cooperate’ with India on deep sea mining in the Indian Ocean, reports Press Trust of India. China's sweetheart deal is to break through India's resistance to its attempt to access the Indian Ocean. It is offering India an opportunity to participate in joint seabed mining in the ocean, where large deposits of gold and silver have reportedly been discovered. "With quickening oceanic development and increasing mineral exploration in the Indian Ocean…
India to Appoint Coastal Shipping Consultant
As part of Narendra Modi government plan to promote coastal shipping, India is all set to appoint a consultancy firm to assist the Shipping Ministry. The Press Trust of India quotes the Shipping Ministry document saying that promotion of coastal shipping and inland water transport (IWT) facilities could be enhanced through a mix of infrastructure and policy initiatives. It added that bids for appointment of a consultant have been invited and a final decision was likely soon. For a country with a coastline of 7,500 kilometres (kms), shoreline shipping plays a surprisingly small role.
Norway-India Partnership in Polar Research
India and Norway closer to one another in questions related to Polar Research and a new proposal for polar research co-operation is on the anvil, reports Press Trust of India. The Norwegian Research Council and the Ministry of Earth Sciences in India will announce a new proposal for polar research very soon, Minister Counsellor at the Norwegian Embassy in India, Sigvald T Hauge said. This will further strengthen, we believe, the long-standing polar collaboration between the two countries.
India Relaxes Vessel Sharing Pacts Regulation
The government of India may continue to exempt vessel sharing agreements among shipping companies from the purview of fair trade watchdog CCI, reports Press Trust of India. The government felt that such pacts are unlikely to hurt competition, after the CCI and the Director General of Shipping reviewed the situation during the last exemption period. The Vessel Sharing Agreement (VSA) is a common practice in the shipping industry that allows entities to share space in each other's vessels.
Programme Package For Indian Shipbuilding Industry
“SMM India 2011 not only provides an international platform for leading-edge maritime technologies and innovation; it also brings together the key decision makers and stakeholders from the maritime sector, especially the shipbuilding industry,” said Mr. G.K. Vasan, Hon’ble Minister of Shipping, Government of India, in his good will message in the run-up to the second SMM India in Mumbai (the inaugural SMM India was in 2009). SMM India 2011 is organised by Hamburg Messe und Congress GmbH (HMC), teaming up with the Indian partner Inter Ads Exhibitions Pvt.
India: L&T Shipbuilding to Expand Building Capacity
According to a Sept. 26 report from the Press Trust of India and Business Standard, engineering major Larsen and Toubro’s (L&T) shipping arm L&T Shipbuilding has earmarked around Rs 1,500 crore to develop around 800 acres of land at Kadipully near Ennore in Chennai for expanding its vessel building capacity, a top company official said. The Kadipully project, to make vessels primarily for defense, would be developed in phases and the first phase will start by mid-2011, the official said. (Source: Business Standard)
Indian Navy Patrol Vessel Sinks
An Indian Navy patrol vessel sank off the coast of Goa after a collision with a merchant carrier, an official release said in New Delhi on Saturday. INS Prahar, a 450 ton vessel, sank just after midnight following a collision with the MV Rajiv Gandhi, a container carrier of the Shipping Corporation of India, 35 km west of Goa, it said. The collision occurred at about 21:45 hours on Friday night, the release said, adding damage to the merchant carrier was minimal and she had been anchored off the coast. Seventy-three crew members of the naval ship have been rescued. Six naval and two coast guard ships, one Dornier aircraft, two naval helicopters and merchant vessels have been deployed for search and rescue operations.