Container rates to stabilise soon: Maersk South Asia MD

Vikash Agarwal, managing director, South Asia, for global shipping and logistics firm Maersk says he is hopeful of a stable market in the second half of the current calendar year

The official said although there are 6-7 MMLPs proposed across the country to improve logistics infrastructure, none of them is in the port area. This makes the Kolkata project more attractive, as it is just 2km from the dock, the official said.

DP World has signed an agreement to develop a new mega-container terminal at Kandla in Gujarat. The terminal, which will have an annual capacity of 2.19 million TEUs, will be developed on a Build-Operate-Transfer basis for 30 years with an option to extend for a further 20 years.

Apeejay Shipping Ltd (ASL) on Friday announced the acquisition of a Japanese-built vessel with a deadweight capacity of 76,812 MT. The vessel adds significant strength to the Kolkata-based company’s fleet, now totalling 10 vessels and boasting of a combined deadweight tonnage (dwt) of 671,332 MT.

The MoU is aimed at powering PM Gati Shakti National Master Plan to boost India’s Act East Policy. NRL will export around 10,000 MT of Petroleum & Petrochemical products per month from IWAI Jogighopa Multi Modal terminal. NRL to set up POL Oil Terminal at Jogighopa Logistics Park with rail connectivity. This MoU is aimed […]

Sonowal underscored the importance of nurturing both worldwide and local collaborations while driving investments within the maritime sector. He further added, “India stands poised as the driving force shaping the next chapter in South Asia’s maritime history, evolving into the global epicentre of the blue economy.

Normal traffic is expected to resume through the Suez Canal within hours after two vessels collided. The collision occurred when an LNG carrier made a sudden stop due to a technical failure, causing an oil tanker to collide with it. Tugboats were sent to move both ships, and one has already been successfully towed outside […]

Global logistics and supply chain major CEVA Logistics has entered into an agreement with an affiliate of private equity firm Warburg Pincus and other entities to acquire controlling stake in tech-driven third-party warehouse and distribution service provider Stellar Value Chain Solutions.

The Centre is preparing a ₹12,000-crore inland waterway on the Brahmani river in Odisha to move goods from four industrial clusters to ports of Paradip and Dhamra. Under the proposed plan, the infrastructure component will be done by the government on an engineering, procurement and construction (EPC) model.

The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research’s critical report on the Adani group that was published in January.