Tag: Indian Ports

In a bid to professionalize governance of India's major ports, the Government has introduced the Major Port Authorities Bill in Parliament, to replace the existing Major Port Trusts Act, 1963. Under the proposed Bill, all major ports will be empowered to make their own master plan for areas within their port limit to the exclusion of any State or local regulations.

The Indian Ministry of Shipping has announced the renaming of Kandla Port, to Deendayal Port, with effect from 25 September, 2017. Kandla Port, located on the Gulf of Kutch in Gujarat, is one of the twelve major ports in the country and the largest in terms of cargo handling.

CMA CGM announced that signed a joint venture agreement with Adani Ports and Special Economic Zone, to operate a new container terminal at Mundra Port, for next 15 years, with an option to extend it twice for 10 more years. CT4 will be the only container terminal on the west coast of India, where the world’s largest container ships can call.

The Shipping Ministry of India has said that since inception of Inland Waterways Authority of India (IWAI) in October 1986, projects worth Rs. 1871.567 crore for development of National Waterways (NWs) have been implemented till March, 2016.

Expansion, modernization and up-gradation of India's Major Ports is an ongoing process to keep the ports abreast with new technologies and also to promote trade and cargo. In particular, 62 PPP Projects with an investment of Rs.49,049 crore are under implementation and operation.

During a meeting with Gujarat Maritime Board the Minister of State for Shipping & Ports discussed the future development of ports in Gujarat, India and the need to focus on development of 48 minor ports in line with major ports.

About 93 Indian flag ships are above 25 years of age The Government has decided to impose certain restrictions on entry of over 25 years old ships into Indian ports or territorial waters. This was stated by the Union Minister of Shipping, Shri G.K. Vasan in a supplementary reply to a question in Lok Sabha.The Minister said that most of the ships involved in accidents like collision of MSC Chitra and M.V. Khalijia are very old. Therefore, the Government has decided to issue a notification under Merchant Shipping Act, 1958 that if the ships are more than 25 years old they will be allowed only if they satisfy the following conditions:i) They should be classed with Classification Societies which are full member of International Association of Classification Societies (IACS).ii) Have adequate insurance coverage to liabilities including collision, wreck removal and salvage.iii) Appoint an Indian Ship Agent to represent owner/charterer.iv) The Indian agent should notify the Port authority and the customs collector at least 48 hours prior to the arrival of the ship about the details of the ship including insurance etc.There are about 93 Indian flag ships which are above 25 years of age. However, they will not be affected ...

Plenty of other investment opportunities in the Indian port sector Companies go global for a variety of reasons, some to increase their market share and some to reduce their dependence on the home market.There are others which see the advantage of easy access to raw materials and cheaper labour or capital. And yet others may be looking for overseas opportunities to increase the shareholder value or expand their brand equity.The Union Shipping Ministry harbours an ambition to take Indian ports global. Its objective is admirable: Make India a "world power in the port sector". The Ministry's Maritime Agenda for the decade, released earlier this year, had suggested the creation of an SPV called "India Ports Global", or IP Global, to explore overseas investment opportunities.Nobody took this crazy idea seriously then. Now, some bureaucrats are trying to test the waters.Going global sounds great! But are Indian ports capable of putting this grand idea into practice? Are we capable of exporting port services that can compete with the best in the world? India's port sector, despite being in existence for hundreds of years, is in no way comparable to the best in the world today. Cargo handling costs at Indian ports are ...