Adani Ports gets about $150 million loan from DBS for capex

Adani Ports secured a $150 million bilateral loan from DBS Group, signaling a recovery in lender confidence after recent challenges. The four-year dollar loan, priced at 200 basis points above SOFR, will fund capital expenditure. This marks the group’s first loan from a global bank since the US Department of Justice indictment.

India has restricted imports from Bangladesh through northeastern land ports following controversial remarks by a Bangladeshi official. The move, effective May 17, redirects exports through Kolkata and Nhava Sheva ports, increasing logistics costs for Bangladeshi businesses.

Indian ports are poised to gain significantly from the global China+1 strategy, as companies diversify their supply chains. Moody’s Ratings suggests that while Chinese ports may face financial headwinds, Indian and Indonesian ports could experience increased activity. This shift is driven by geopolitical tensions and India’s relatively low exposure to US tariffs.

State-owned oil companies currently operate an aging fleet that’s mostly on-charter from global companies and the shipping and petroleum ministries want to change that, said the people, who asked not to be identified citing rules. The plan’s first phase involves purchasing 79 ships, of which 30 of them would be medium-range vessels, they said.

The central government will invest more in Northeast waterways. An additional Rs 1,000 crore will be allocated for projects in Assam and the Northeast by 2026. Sarbananda Sonowal reviewed ongoing projects. Projects worth Rs 1,000 crore are already underway in the Northeast. The government focuses on infrastructure along Brahmaputra and Barak rivers.

Dredging Corporation of India (DCI) is actively pursuing business opportunities in the Middle East, South East Asia, and South Asia, driven by a significant fleet shortage and rising demand. Domestically, DCI aims to capitalize on port expansions by major players like AMNS India, JSW Group, and Adani Group, along with opportunities in dam and reservoir […]

The Kolkata Port Trust plans to convert three retired pilot boats into tourist attractions. These vessels, PL Rupsa, PL Hooghly and PL Gopal, will become floating cafes, museums, or wedding venues. The port authority invites proposals from entrepreneurs. This initiative aims to rejuvenate Kolkata’s riverfront. The port offers free berthing and jetty space to encourage […]

India’s major ports experienced a 4.3% surge in cargo handling, reaching 855 million tonnes in FY 2024-25, fueled by container, fertilizer, and POL throughput. Paradip and Deendayal ports exceeded 150 MT, while JNPA achieved a record 7.3 million TEUs. Increased private investment and land allocation for industrialization signal strong confidence in port-led development.

India approves three Russian insurers, including a Sberbank unit. They will provide marine cover for ships at Indian ports. This move helps Russia maintain oil supplies to India. India is a top buyer of Russian oil after China. Russia is India’s top oil supplier for the third year. New Delhi benefits from cheap Russian oil.

The Mumbai bench of the NCLT rejected Adani Ports’ plea for a delayed resolution plan for Tuticorin Coal Terminal, favoring the exploration of more bids. The tribunal noted the company’s improved financial performance during the CIRP, suggesting broader investor interest. Currently, lenders are evaluating a proposal from Seapol Port, the remaining bidder for the asset.