Norway’s central bank has excluded three companies from its government pension fund due to ethical concerns. Adani Ports, part of Gautam Adani’s conglomerate, is excluded due to potential violations of individuals’ rights in war situations. Weichai Power, a Chinese company, is excluded due to its involvement in armed conflict sales.
Norway sovereign wealth fund excludes Adani Ports over ethical concerns
The slated connection of the dedicated freight corridor to Jawaharlal Nehru Port in FY26, along with capacity additions by ports, is expected to drive growth in container volume over the medium term, it added.
Sarbananda Sonowal, Union Minister of Ports, Shipping, and Waterways, stated that India aims to replicate the Chabahar port model in other strategic locations in the region to acquire additional assets. In an interview with ET, he emphasized that India is actively investigating opportunities to bolster its maritime presence and trade connectivity.
Singapore-based Nalanda Capital through its arm Nalanda India Equity Fund Ltd sold shares of Great Eastern Shipping Co Ltd through a bulk deal on the BSE. As per the data, Nalanda India Equity Fund offloaded 20 lakh shares, amounting to a 1.4 per cent stake in Mumbai-based Great Eastern Shipping Co Ltd.
At the end of the 10-year period, both sides will extend their cooperation in Chabahar. IPGL will invest about $120 million in equipping the port, officials said. India has also offered a rupee credit window equivalent to $250 million for mutually identified projects aimed at improving Chabahar-related infrastructure, they said.
According to the company’s website, as the delay in commencing the operations was beyond the limits set by the Reserve Bank of India (RBI), the lenders classified the account as a Non-Performing Asset (NPA). As a result, the lenders halted further disbursals of loans resulting in the construction work coming to a complete standstill.
Tata Steel completed India’s first fully loaded voyage from Australia to India on B24 biofuel blend to reduce carbon emissions by 20%. This was in alignment with the company’s sustainability goals. This milestone is a significant step towards sustainable shipping practices in India and showcased Tata Steel’s commitment to reducing carbon emissions in their operations.
INS Delhi, INS Shakti and INS Kiltan visited Singapore from May 6-9, aimed at undertaking bilateral engagements and discuss areas of mutual interest and cooperation, and reaffirming the commitment to enhance maritime security and stability in the region, according to an official statement shared by the Navy spokesperson.
According to the centre, average container turnaround time reached less than a day in 2023-24 which is better than USA (1.5 days), Australia (1.7 days), Singapore (1.0 days). The improvement is on the back of investments in cargo handling equipment on berths and better supply chain visibility due to digitalization, officials said.
The conversion of a crude oil tanker to carry clean products enabled Petrobras to ship bigger volumes of diesel from Asia at lower costs, with Asian sellers also seeking demand outlets outside this region, the sources said.