News
on Ports
Chennai
Container Terminal Handed over to P&O Ports With the dismissal
of the petition filed by the port workers, by the Madras High
Court on November 30,2001, the Chennai Port Trust authority has
handed over the container terminal to P&O Ports. Consequently,
the new entity - The Chennai Container Terminal Ltd. (CCTL), a
special purpose vehicle (CPV) created by P&O Ports has officially
commenced its operations from the third shift of November 30.
As per the agreement, minimum guaranteed productivity from 350,000
teus to 800,000 teus in three stages is assured and CCTL will
take care of the entire container handling equipment at the port.
TAMP
approves composite box rate at Vizag port The Tariff Authority
For Major Ports (TAMP) has approved the proposal of the Visakhapatanam
port authorities to fix a composite rate on the containers. The
port, which until recently used to charge the shippers according
to the cargo loaded on to the containers, had in its new proposal
sought to make the handling of cargo through container boxes more
remunerative by seeking approval for charging a fixed box rate
of Rs. 425 on 20-foot containers and Rs. 638 on 40-foot containers.
The new composite rate is expected to result in savings for exporters
and importers using the port and help boost container traffic
at the port.
Tenders
The
Mechanical Engineering Department of the Tuticorin Port Trust
has invited sealed tenders from Indian suppliers for the manufacture
and supply of 6.6 kv switch gear with vacuum Circuit breaker (No
5). The estimated value of supply is 17.40 crores, the earnest
money deposit is 45,000 and value of tender document is Rs. 1500.
The delivery period is two months. The last date for obtaining
tender document Chief Mechanical Engineer is 27. 12.2001.
Bids
are also invited from Indian suppliers for supply, errection,
commissioning and testing of 22/6.6 KVA Power Transformer. The
estimated value of supply is Rs.11 crores, the earnest money deposit
is Rs.27, 000 and the value of the bid document is Rs.1500. The
delivery of the supply is to be made within a period of two months.
The last date for issue of tender document is 26.12.2001.
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News
on Shippings
Great
Eastern Shipping to issue Rs. 100 crore preference shares soon
Great Eastern Shipping Co Ltd has convened an extraordinary general
meeting (EGM) of its shareholders on December 14 to seek their
approval for issuing and allotting 10 crore redeemable preference
shares of Rs 10 each aggregating to Rs. 100 crore. The proceeds
of the issue is expected to be utilized for the long-term working
capital requirements of the company. Company sources have been
quoted as saying that the preference shares would be issued either
by way of private placement or on a preferential basis or any
combination thereof to resident and or non-residents including
institutions, incorporated bodies individuals or otherwise. The
exact details of the issue will be finalized after the EGM gives
its approval for the issue.
SCI
reverses its decision on taking up LNG deal liability The
Shipping Corporation of India board has reportedly reversed its
earlier decision to take on the liability arising out of the default
in the repayment of loan for the $ 370 million LNG shipping deal
for Petronet LNG Ltd. The board had earlier indicated its willingness
to cover costs of the liability as contingent liability on its
books. According to news reports, a joint and several liability
estimated at $ 520 million may devolve on SCI, if a default occurs
in the repayment of the outstanding loan amount in case the loan
is not refinanced at the end of the initial loan period of 10
years. The board, while deciding to back out of its earlier stand,
has explained that assuming such a liability might prove costly
for SCI's own borrowing programme in future. The project involves
LNG transportation from Qatar to Petronet's LNG terminal at Dahej
in Gujarat, using SCI's tanker vessels.
Maersk
Sealand to launch new direct service to US Mr. Tomas Dyrbye,
Managing Director of Maersk Sealand has announced the introduction
of a new weekly direct service to US. The inaugural sailing from
Colombo and Nhava Sheva port will commence on December 14 and
17 respectively and reach Newark on January 7, 2002. The new service
will be the fastest direct connection to key ports on the US east
coast in addition to existing comprehensive coverage of US Gulf
ports. Nhava Sheva to Newark voyage will take 21 days.
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News
on Shipyards
Cochin
Shipyard to build two big SCI tankers. The Shipping Corporation
of India (SCI) has placed orders for two 115,000 DWT tankers with
the Cochin Shipyard, country's biggest shipyard. Mr. P.K.Srivatasava,
Chairman and Managing Director of SCI disclosed this at a press
conference in Mumbai. The largest vessel built so far at Cochin
Shipyard is 95,000 DWT and to build the newly ordered SCI mega-tankers,
the shipyard will have to modify its facilities.
Tenders
Garden
Reach Shipbuilders & Engineers Ltd., has invited pre-qualification
bids from reputed firms cable of undertaking design, manufacture,
supply, errection and commissioning of one 10-ton electric level
luffing crane for finger jetty at GRSE/FOJ unit. Bids should reach
General Manager (Materials), 43/46 Garden Reach Road, Kolkata
700024.
Hindustan
Shipyard Limited has invited offers from experienced eligible
contractors for executing the steel renewal works onboard the
ships under repair in their yard at Visakhapatanam. The rate of
the contract will be finalized basing on the offers received.
Interested contractors can forward their requisitions to General
Manager, Ship Repair Division, along with a demand draft for Rs.1,
000 drawn from a nationalized bank towards the cost of tender
document drawn in favour of Hindustan Shipyard Limited, Visakhapatanam-
530005. The last date for receipt of requisition for tender document
is 30 December 2001.
News
on Logistics
Customs
scrap mandatory six-month permission for factory stuffing
The Central Board of Excise & Customs (CBEC) in a much-awaited
decision have yielded to exporter's demand for scrapping the mandatory
six-monthly permission required for factory stuffing. Till now
such permission was for a six-month tenure basis and had to be
renewed at the end of six months. Under the new system, the permission
would be granted on a one-time basis and will be valid permanently
unless revoked for any specific reason.
Balmer
Lawrie seeks alliances for its box business The public sector
conglomerate Balmer Lawrie has invited partnership bids from specialized
companies for four of its strategic business units (SBUs), including
its container freight business.
The
Railways handle 41.48 MT freight in Oct 2001 The Indian Railways
have handled 41.48 million tones(MT) of cargo freight during October
2001, which is more than 2.71 MT handled in the corresponding
month of the previous year. Of this, 19.48 million tones was coal,
3.50 MT of cement, 2.65 MT of fertilizers and 2.97 MT of POL and
4.45 MT of other goods. The railways earned Rs. 2,118.50 crore
from the freight traffic during the month.
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