Shipbuilding, maritime funds likely soon

The Indian government is poised to introduce a ₹18,090 crore shipbuilding financial assistance policy and a ₹25,000 crore maritime development fund (MDF). The MDF aims to boost Indian-flagged ships’ share in global cargo to 20% by 2047, attracting ₹1.5 lakh-crore investments by 2030. Enhanced incentives for green shipbuilding, hybrid technologies, and large vessel manufacturing are […]

Commerce Secretary Sunil Barthwal visited the Netherlands. The visit aimed to establish a green and digital corridor. This corridor will connect Rotterdam port with Indian ports. The goal is to facilitate green hydrogen export to Europe. Discussions also covered semiconductor cooperation with ASML. Barthwal also visited Croatia to discuss the India-EU free trade agreement.

DHL Express will resume global business-to-consumer shipments worth over $800 to individuals in the United States following “constructive discussions” with U.S. authorities, the company announced on Monday.

Synergy Marine Group CEO Jesper Kristensen anticipates short-term friction in India’s maritime sector due to US reciprocal tariffs. However, he emphasizes India’s strong fundamentals, including expanding port capacity and a skilled workforce, ensuring long-term resilience. Kristensen highlights rising demand for skilled maritime professionals driven by digitalization and decarbonization.

Fitch Ratings deems Adani Ports’ acquisition of North Queensland Export Terminal as credit neutral, highlighting its strategic importance for global expansion. The deal, awaiting approvals, involves equity shares for NQXT’s shareholders. Fitch anticipates stable leverage and a rise in global earnings contribution from 4% to 10%.

Cityflo, known for its premium daily commute bus service, is venturing into the four-wheeler rental market with its new ‘Luxe’ service. This expansion addresses the growing demand for reliable and high-quality car rentals in urban India, where existing cab services often fall short.

Shiprocket, on its path to an IPO, is collaborating with CriticaLog to offer premium shipping services, venturing into the secure transport of valuable items like gold and diamond jewellery. This partnership aims to empower smaller jewellers by providing them with reliable logistics solutions, enabling them to compete effectively in the expanding e-commerce market.

Mumbai International Cruise Terminal (MICT) commenced operations, inaugurated by Union Minister Sarbananda Sonowal. Designed to accommodate 1 million passengers annually, the terminal can handle five ships simultaneously. Investment in the MICT project totaled Rs 556 crores. Agreements were also signed for infrastructure projects exceeding Rs 5,700 crores at Vadhavan Port, including container, bulk, and liquid […]

Adani Ports and SEZ Ltd is set to acquire North Queensland Export Terminal in Australia for USD 2.4 billion from a group company, marking its fourth overseas acquisition in two years. The non-cash deal, involving the issuance of new equity shares, aims to boost APSEZ’s global presence and volume targets, leveraging the terminal’s strategic location […]

Adani Ports & Special Economic Zone (APSEZ) is set to reacquire North Queensland Export Terminal (NQXT) in Australia from the Adani family for $2 billion. This non-cash deal, approved by the APSEZ board, aims to consolidate port assets and bolster overseas expansion. APSEZ will issue new equity shares, increasing the promoters’ stake.