Last month, the finance ministry urged regulators to monitor and address exporters’ concerns, potentially driving up India’s export expenses. Banks were advised to factor in increased costs while granting credit limits. The impact of the Suez Canal crisis on India’s exports has been minimal, with trade flow unaffected by rerouted vessels through the Cape of Good Hope.
Vinod Kumar is set to take over as chairman of the Deendayal Port Authority, replacing SK Mehta. He will serve in this role for six months or until a full-time chairman is appointed. Kumar, a 1994-batch Indian Postal Service officer, has been leading the Mormugao Port Authority since April 3, 2023.
JNPA expands liquid cargo capacity with the introduction of Liquid Berth-3 and Liquid Berth-4. Handling 6.5 MMTPA, JNPA invested Rs. 225 Crores for ALCB development. M/s JSW Infrastructure Limited won the bid, with a quoted royalty of Rs.252 per tonne. Chairman Shri Unmesh Sharad Wagh welcomes the move to meet demands and improve operational efficiency. Major benefits include reduced waiting time, reduced demurrage costs, and increased revenue.
HSL, a dynamic DPSU, saw a total revenue of Rs 478 crore in 2021 with a loss of Rs 14 crore. The company’s transformation has been significant, focusing on infrastructure modernization, corporate governance, and ship repairs. A contract with L&T Geostructure aims to enhance capacity for future projects, emphasizing PPP initiatives for revenue generation.
Terminal Investment Ltd acquired a 49% stake in Adani Ennore Container Terminal Pvt Ltd from APSEZ for Rs 247 crore, with an enterprise value of Rs 1,211 Crore. The deal received security clearance from the Union government. This strengthens the partnership between APSEZ and MSC, who jointly operate the Adani International Container Terminal at Mundra Port.
The IRS kicks off its 50th anniversary celebration with a new commemorative logo symbolizing progress and future growth. With a new slogan “Powered by Passion. Driven by Values,” the organization reflects its commitment to excellence. Introducing a new flag and teaser video, IRS reaffirms its dedication to maritime progress.
The financial year ended March 31, 2024, saw the two major ports handling a higher volume of goods, leading to increased operating profits. The CPA reported a nine percent increase to ₹1,056 crore, while KPL reported an eight percent increase to ₹1,060 crore. Both ports saw a significant rise in net surplus as well.
Kamarajar port in North Chennai is set to become Cape compliant by investing ₹325 crore in a dredging project. The KPL has issued a global tender for capital dredging to accommodate large Capesize ships. With plans for future growth, KPL aims to expand its cargo handling capacity and develop additional berths for coal and liquid cargo.
The total traffic for the financial year 2023-24 at Jawaharlal Nehru Port Authority (JNPA) reaches 85.82 million tonnes. JNPA achieved a historic milestone with its highest-ever throughput of 6.43 million TEUs, marking a 6.27% increase from the previous year. Chairman Unmesh Sharad Wagh expressed pride in making the port a premier gateway for trade.
Paradip Port Authority (PPA) has achieved record-breaking year-on-year traffic growth of 10.02 million tonnes, surpassing Deendayal Port’s previous records. The port is also becoming a hub for coastal shipping in the country, handling 21,665 rakes, 2,710 ships, and increasing its operating surplus by 16.44 percent.
Indian Coast Guard ships Rajtarang and Rajkiran have been strategically rebased at Diglipur and Campbell Bay in the Andaman and Nicobar Islands. This move aims to enhance coastal security, maritime law enforcement, surveillance, search and rescue operations, pollution response, and swift maritime contingencies. Additionally, a specialized Marine Pollution Control Vessel has been stationed at Vadinar in the Gulf of Kutch to mitigate environmental threats in the region.
