VISAKHAPATNAM PORT
High watermark: Why is India building its biggest port ever?
Vadhavan Port in Palghar district, operational by 2030, will cost Rs 76,220 crore and connect via the DFC. Supporting IMEC, it will handle 23.2 million TEUs by 2040. Challenges include proximity to Tarapur nuclear plant and relocating fishing activities. This 2019 initiative, highlighted by Amitabh Kant, boosts India’s trade.
Cargo traffic at 12 major Indian ports rises 6.8 pc to 69.8 MT in Jun
Cargo traffic at major Indian ports increased by 6.8% in June, with Jawaharlal Nehru Port and Cochin Port showing the highest growth. However, Mumbai Port experienced a decline. Overall, ten ports saw positive growth while two witnessed a decrease.
Nine Indian ports ranked among top 100 in Container Port Performance Index 2023
In the latest Container Port Performance Index (CPPI), released by the World Bank and S&P Global Market Intelligence, India's ports have achieved notable global rankings. Nine ports from India have been listed among the top 100 globally. Visakhapatnam Port secured the highest position among them, ranking 19th worldwide in 2023. Mundra Port also made significant progress, climbing to 27th place in the current rankings.
Major ports cargo traffic rises over 3% to 72.04 million trillion in May
Cargo traffic at major Indian ports rose by 3.75% in May to 72.04 MT, with notable growth at Visakhapatnam, Chennai, and Cochin ports, as per Indian Ports Association data.
Uncertainty over capital city stares at Andhra Pradesh as Hyderabad set to cease to be joint capital
Hyderabad, the joint capital of Andhra Pradesh and Telangana, is set to cease as the capital city on June 2, 2024. The Andhra Pradesh Reorganisation Act, 2014 mandated that Hyderabad would be the common capital for both Telangana and Andhra Pradesh for a period not exceeding 10 years. However, the situation remains uncertain due to conflicting stances and initiatives between the ruling YSRCP and opposition TDP.
300 trafficked Indians 'revolt' in Cambodia; most of them arrested: Andhra Pradesh Police
Around 300 Indians 'revolted' in Cambodia against Chinese handlers for cyber crimes. Efforts are on to repatriate the youth with MEA's assistance. Nearly 5,000 Indians were trafficked to Cambodia, with 150 youth traced by the police.
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Issue of transportation of coking coal from Adani Gangavaram Port resolved: CMD Atul Bhatt
"I extend gratitude to all stakeholders who played a crucial role in resolving the crisis of transportation of essential raw material from Adani Gangavaram Port Ltd to RINL. Their collective efforts have been instrumental in ensuring the continuity of RINL's operations and sustaining economic growth in the region," Bhatt said in a statement.
Protest at Adani port disrupts coal supply to RINL's Vizag plant
Workers' protest at Adani's Gangavaram Port disrupts coal supply to RINL's Visakhapatnam plant. RINL deploys strategies like diverting ships, availing commodity loans, and calling global tenders to mitigate disruptions and ensure operational continuity.
Dredging Corp inks pact to launch joint MTech programme on Dredging Engineering
Dredging Corporation of India Limited signed an agreement with IIT-Chennai and IMU to launch a joint MTech programme on Dredging Engineering. The agreement was signed between its MD and CEO S Divakar, and representatives of IIT-Chennai and IMU-Chennai in the presence of Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal.
India to host 9-day Milan naval exercise from Feb 19; 50 countries likely to participate
India will host a nine-day naval exercise in Visakhapatnam from February 19, drawing over 50 navies amid heightened security concerns. The 'Milan' exercise, initiated in 1995, aims to foster maritime cooperation and security, particularly in the Indo-Pacific region. Visakhapatnam's selection as the venue offers strategic advantages, including its commercial hub status, extensive port facilities, and picturesque coastline. The exercise will feature cultural exchanges, maritime demonstrations, and large-force manoeuvres, reflecting India's commitment to maritime cooperation and regional stability.
RINL restarts Blast Furnace-3 to raise hot metal production
"The RINL has shown the world how to produce the best quality steel in spite of raw material crunch. This day is a historic day in the history of RINL as we have lit up the BF-3," said its chairman and managing director, Atul Bhatt, in a press release.
When valuations are expensive, stick with sector leaders: 5 stocks with right PEG ratio
It pays to be the leader and there is a good logical reason for it. It is not easy to become a leader of a particular sector. Right from the quality of the management and its ability to allocate capital correctly over a long term period of time and many economic cycles that makes a leader. Why is the issue of staying with the leader at this time ? Simple; valuations are not high and given the current sentiments, it is very likely that valuation may stay stretched before correction.
Major ports embrace transformation to 'landlord ports' in pursuit of efficiency and growth
Major ports in India, including Visakhapatnam port, are transitioning to a landlord port model, where private players take over the operational aspects of the business while the ports act as regulators and landlords. This shift towards public-private partnerships is aimed at increasing efficiency and reducing costs. Currently, six private companies control eight out of 29 berths at Visakhapatnam port, contributing 60% of the total throughput.
Visakhapatnam Port will reach 100% landlord port model by 2030, says Port Authority Chairman Angamuthu
The Chairman of Visakhapatnam Port Authority, M Angamuthu, has stated that three more public-private partnership (PPP) projects will be awarded by the end of next year, bringing the total number of private berths in the port to 20 by 2025. Angamuthu also expressed confidence that Visakhapatnam will become a 100% landlord port by 2030, with private companies handling all day-to-day operations.
Vizag Steel Plant logs highest ever monthly sales of value-added steel in August
"The sales volume of 1,57,000 tonne of value-added steel achieved in August 2023 by RINL is the best ever monthly sales of value-added steel sales for any month since inception," said the official in a press release.
INS Visakhapatnam, INS Trikand arrive in Dubai to conduct bilateral exercise 'Zayed Talwar' with UAE Navy
Two ships of the Indian Navy, INS Visakhapatnam and INS Trikand under the command of Rear Admiral Vineet McCarty, Flag Officer Commanding Western Fleet (FOCWF) arrived at Port Rashid in Dubai to conduct bilateral exercise 'Zayed Talwar' to boost enhance interoperability and synergy between the two navies.
Visakhapatnam Port to become green port with green tugs, shore to ship projects
Tugs, used to pull and push big cargo ships, and guide them into and out of a port, are operated by bunker oil but the port plans to introduce electricity operated green tugboats. Tugboats are also used as standby vessels for safety and emergency requirements.
Cargo traffic at major ports declines 1.96 pc to 64.63 MT in June: IPA
Cargo traffic at the country's major ports declined 1.96 per cent year-on-year to 64.63 million tonnes (MT) in June, with seven ports posting a negative growth while five such facilities saw a surge in traffic, an official release said on Tuesday. There are 12 major ports spanning across India under the administrative control of the central government.
Bad weather forces diversion of Air India Delhi-Port Blair flight; passengers spent 1 night in Visakhapatnam
More than 150 Air India passengers travelling from Delhi to Port Blair spent a night in the city after their flight was diverted on Sunday due to inclement weather. Air India on Monday said it sincerely regrets the inconvenience caused to the passengers. There were 152 passengers in the flight.
Dredging Corporation of India eyes over Rs 1,300-crore turnover in FY24: CEO S Divakar
Dredging Corporation of India Ltd (DCI) is targeting a 12 per cent growth to hit the turnover of more than Rs 1,300 crore in the ongoing financial year, MD & CEO S Divakar said. To achieve the goal, the company is looking to participate in new dredging tenders and also planning to enter new markets, Divakar told PTI.
India's major ports handled highest ever cargo at 795 million tonne in FY23
India's major ports handled the highest-ever cargo of 795 million tonnes in 2022-23, marking a 10% increase from the previous year as four major ports hit peak performances. The shipping ministry has also surpassed its FY23 asset monetization target, achieving transactions worth around Rs 5,000 crore. Additionally, the inland waterways' cargo handling increased by 16% in the same period. The Ports, Shipping, and Waterways minister will launch Green Port guidelines next week. The achievement comes as a significant success given the challenges posed in the current market scenario.
Sagarmala projects worth Rs 1 lakh cr identified in Andhra Pradesh: Shipping Minister
More than 110 projects worth around Rs 1.1 lakh crore have been identified in Andhra Pradesh under Sagarmala, even as 35 works worth Rs 32,000 crore have already been completed, Union Minister of Ports and Shipping Sarbananda Sonowal said on Saturday here.
Cargo traffic at major ports rises 12 pc in February: IPA
India has 12 major ports -- Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and Kolkata (including Haldia) and Jawaharlal Nehru Port.
Cong questions govt over IOC's 'unfavourable' contract to hire Adani-owned port for LPG imports
The Congress on Friday alleged that the Indian Oil Corporation (IOC) had been importing LPG via the government-run Visakhapatnam Port but was now being made to use the Adani-owned Gangavaram Port through an "unfavourable" contract.
Port infrastructure may get ₹2 lakh crore upgrade to ease logistics pain
As many as 298 projects, including for road and rail connectivity to ports, have been identified under the plan. The Empowered Group of Secretaries headed by cabinet secretary Rajiv Gauba has identified critical infra gaps in port connectivity that would be taken on a priority basis and their implementation would be reviewed monthly, officials said.
SC allows Adani Ports to withdraw plea against HC order backing JNPT
The division bench of Justice MR Shah and Justice Krishna Murari, while allowing the withdrawal, noted that Adani Ports & SEZ shall have no claim in the current bidding process of JNPT.
Amid buildup of coal inventory, Ports seek intervention by Govt
The Visakhapatnam Port Authority has written a letter to the railways and coal ministries seeking expeditious evacuation of imported coal. About 5 million tonnes of coal is accumulated at Indian ports, of which about 3 million tonnes is imported coal, said officials. The logistics plan was drawn up in April after a surge in power demand prompted the power ministry to direct generation firms to import 10% of their coal needs for blending.
Adani Logistics to buy inland container depot Tumb for Rs 835 crore
Adani Ports and Special Economic Zone Ltd (APSEZ), has acquired inland container depot (ICD) Tumb from Navkar Corporation for Rs 835 crore.
DCI suspends Managing Director and Chief Executive GYV Victor for forgery
This was the first top management appointment at DCI after four major ports purchased the Centre's stake in the public sector undertaking.
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