The second Chinese ship, Zhen Hua 29, is set to arrive at the international deep-sea facility in Vizhinjam, India, on November 9. It will carry one ship-to-shore crane for Vizhinjam port and several yard cranes for Mundra port. The vessel will offload the crane and then depart for Mundra port in Gujarat.
Second Chinese ship carrying ship-to-shore crane for Vizhinjam port to arrive on Nov 9
The US will invest $553 million for a port terminal in Sri Lanka that Indian billionaire Gautam Adani is developing. The funding is seen to be to curb Beijing’s domination over Sri Lanka after Colombo splurged on Chinese port and highway projects before its economic meltdown last year.
The demand for warehousing has shown resilience marked with growth in lease rentals for logistic spaces across top eight markets during the half year ended September. While occupier traction seems to have taken a pause in the current analysis period, rent growth across markets has been relatively healthy during the period since March.
Mundra Port, operated by Adani Ports and Special Economic Zone Ltd (APSEZ), achieved a new cargo handling record, surpassing 16.1 million metric tonnes (MMT) in October, marking the highest volume ever handled by an Indian port. It also set a new milestone by handling 4.2 million TEUs of containers in just 203 days
It is the largest port in the country with 102 MMT of cargo handled so far this year with a good 9 per cent year-on-year growth. The port crossed the 100 MMT mark in 210 days, surpassing the record of 231 days last year.
APSEZ delivers record cargo volumes in October
2 years ago
Overall, in the initial seven months of FY24 (April-October 2023), APSEZ handled 240 MMT of total cargo, an 18% Y-o-Y growth. Across its ports in India, the recorded year-on-year volume growth for the company was 15%, the statement said.
Sonowal said measures like guaranteed berths to cruise ships encourage cruise operations. Volume discounts in cruise tariff up to 30% for domestic cruise ships and licensee fee waivers for foreign cruise vessels have already improved prospects. “As a result of these initiatives, from 102 cruise calls and 84,000 passengers handled in 2013-14, we went up […]
No stamp duty on SCI unit demerger
2 years ago
Acceding to the Centre’s request, the Maharashtra government has waived off stamp duty pertaining to the demerger of SCILAL, created by hiving off the non-core real estate assets of the Shipping Corporation of India (SCI), the official told ET. The stamp duty, according to industry estimates, could be in excess of ₹250 crore.
The government is giving coastal cruise services a push by offering IGST waiver to luxury vessels converting to coastal run and encouraging setting up of cruise terminals in ports. The near-term goal is to encourage tourists who would otherwise be boarding cruises from Dubai or Singapore to onboard cruises from Indian destinations
The demand for warehouses in India is expected to reach a five-year high in 2023, with the Industrial & Logistics sector projected to absorb 36-38 million square feet across the top 8 cities. The completion of pent-up projects and robust festive demand are contributing to this growth. Supply addition is also expected to increase, reaching […]