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.
