Mercantile Ports & Logistics starts legal action as refinancing talks fail

Mercantile Ports & Logistics Ltd. has initiated legal action against a group of unidentified banks in India, alleging they failed to act fairly during refinancing negotiations. The company claims a third party is attempting to acquire its outstanding debt from the banks, potentially disrupting the refinancing process.

India is reviewing the US decision to end the Chabahar Port sanctions waiver. This waiver, expiring in 2025, allowed India access to Afghanistan and Central Asia. The US move aligns with its pressure campaign against Iran. Concerns arise that this could impact India’s connectivity plans. It may also benefit China’s Belt and Road Initiative.

The Maharashtra government is partnering with Finland to modernize Mumbai’s historic Sassoon Dock using technology-driven solutions. The project aims to address operational challenges, environmental concerns, and hygiene issues at the busy fishing harbor. The modernization will introduce modular infrastructure and advanced fishing methods to improve efficiency, sustainability, and fishermen’s earnings.

Adani Group and partners will double the Colombo terminal capacity. The project is ahead of schedule, despite losing US funding. The terminal is strategically important for India and China. The first phase is complete and the second phase will finish by late 2026. Adani withdrew a funding request from the US.

PSA International aims to broaden its footprint in India by venturing into warehousing and forging alliances for inland container management. The company is actively eyeing opportunities at the upcoming Vadhavan port in Maharashtra.

Adani Ports plans a ₹30,000 crore expansion over two years, primarily targeting Mundra, Dhamra, and Vizhinjam ports to achieve a one billion tonne cargo handling target by 2030. The investment spans ports, logistics, renewables, and marine services, with a focus on berth and terminal expansion.

India’s maritime sector is poised for significant growth, with projected investments of Rs 80 lakh crore and the creation of 1.5 crore jobs. The Sagarmala program, with 840 projects underway, is driving this transformation. Key initiatives, including the Vadhavan Port and improvements in port turnaround times, are positioning India as a global maritime leader, with […]

India is set to introduce 40 billion rupees in incentives to revitalise its shipbreaking industry and regain market dominance from Bangladesh and Pakistan. The plan includes credit notes for ship owners, valued at 40% of scrap value, usable for purchasing domestically built ships.

The Noble Walker, a sanctioned vessel carrying Russian oil, has rerouted to India’s Vadinar port after Adani Group banned blacklisted ships from Mundra port. Carrying about a million barrels of Russian crude for HMEL, the vessel was previously headed to Mundra. India has been tightening surveillance on Russian oil vessels after becoming a major buyer.

Syama Prasad Mookerjee Port, Kolkata, inked a 30-year concession with JSW Infrastructure Ltd for a Rs 740-crore project. This involves reconstructing berth 8 and installing rail-mounted quay cranes at berths 7 and 8 in Netaji Subhas Dock. The project aims to enhance container cargo handling with a 25-acre backup area, projecting an annual handling capacity […]