Suez Canal Incidents: Over 300 vessels have opted for a 6,000 nautical mile diversion around the Cape of Good Hope in recent days. Consequently, transit durations, shipping costs, and insurance premiums have risen, posing a potential disruption to global production timelines. With the Houthi assault in the Red Sea looming over world trade, what solutions […]
Saving Suez: As Red Sea attacks threaten global trade, what it means for India
The main vision for developing the island aims “to capture the locational advantage of being on international sea route and develop Great Nicobar as a sustainable, green, global hotspot for business, trade and leisure”, according to a document from the Pollution Control Committee of the union territory.
While the margin profile may vary widely across players operating in different segments, CRISIL said the average operating margin may continue to moderate to 33-35 per cent in the next fiscal driven mainly by the correction in charter rates.
DB Schenker India signs pact with CONCOR
2 years ago
The two organisations will provide a bouquet of services to customers, helping them further improve ‘ease of doing business,’ Sanjay Swarup, chairman and managing director of CONCOR, said.
As per the share purchase agreement concluded Wednesday Mahindra Logistics will transfer 39.79% stake in TLPL to Amarnath Kalale, a promoter in the company, for a consideration of Rs 1,32,176.
Reliance on Bab-el-Mandeb Strait may hit eco; India needs alternate sea trade routes: GTRI
2 years ago
India needs to work on finding alternate trade routes in the sea as heavy reliance on the Bab-el-Mandeb Strait, a key route crossing Red Sea, could impact the country’s trade with the Middle East, Africa, and Europe, economic think tank GTRI said on Tuesday. Developing alternative routes such as the deep water port in Chabahar, […]
Sector watchers said that the alternate route between Europe and Asia through the Cape of Good Hope will take two-three weeks more, depending on where the consignment is to be delivered. This is likely to result in containers being held up in transit for longer and freight prices firming up.
Adani Ports and Special Economic Zone Ltd (APSEZ) has partnered with Mediterranean Shipping Company’s (MSC) Terminal Investment Limited (TiL) for the operation of Adani Ennore Container Terminal Pvt Ltd (AECTPL). TiL, an associate of MSC, is set to acquire a 49% stake in AECTPL from APSEZ for Rs 247 crore. This marks the second joint […]
Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal announced plans to establish ship building and repair clusters in strategic locations such as Mumbai, Kochi, Chennai, Gujarat, Goa, Vishakhapatnam, Andaman and Nicobar, and Odisha. The India Middle East Europe Economic Corridor plan will include building next-generation mega ports in India, with the Vadhavan and Tuna Tekra […]
The contracting firm — Howe Engineering Projects (India) Pvt Ltd. — contains the core operations of a business called PMC Projects Pvt Ltd. that India’s government alleged in 2014 was being used by billionaire Gautam Adani’s empire to siphon money overseas. Adani denied all wrongdoing and the probe’s findings were dismissed in 2017 by an […]