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News on Ports
Kochi
port to promote cruise shipping The
Cochin port has reportedly launched a series of initiatives to
promote cruise vessels to call on the port, as a part of the effort
to develop cruise tourism in the State. The initiative comes against
the backdrop of declining trend in cruise vessels calling on the
port in the aftermath of the September 11 episode. The Kochi port
received only 22 vessels 2001-02 against 34 vessels handled in
the previous year. As a part of the initiative to promote cruise
shipping, the cruise cell of CPT has offered single window facility
in co-ordination with the Customs, Immigration and Port Health
Office, to ensure quick clearance for passengers, soon after the
docking of a vessel. The port has also approached the Union
Shipping Ministry in building a passenger terminal of international
standard. Along with the Kerala Tourism Department, CPT is also
taking up works for renovation and construction of jetties
in and around the harbour and retaining the traditional aesthetics.
The pioneering efforts of the port, in promoting the concept of
Cruise Tourism among the Indian ports has culminated in the constitution
of a national-level committee to formulate and promote business
promotion measures to develop cruise tourism among the Indian
ports.
CPT
plea against SBM at Kochi port The Cochin Port Trust (CPT)
has reportedly passed a resolution requesting Kochi Refineries
Ltd (KRL) to drop the proposed move to establish single buoy mooring
(SBM), away from the port limits, as it would adversely affect
the port's revenue to a very large extent. At present 80 per cent
of the port's revenue comes from handling of POL products. The
CPT has already invested heavily for provision of on-shore and
off-shore infrastructure to handle crude and crude products and
is willing to provide additional facilities as per the requirements
of KRL. However, the CPT felt that if the proposed SBM materialised,
all the capital-intensive facilities provided for KRL would become
infructuous and have an adverse impact on the financial position
of the port.
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News on Shipping
MoS
seeks feasibility study creation of integrated maritime authority
The Ministry of Shipping (MoS) has invited offers
from interested consultancy organizations to undertake a study
on the feasibility of setting up a Maritime Authority of India.
The proposed authority will oversee and regulate conservancy functions
in the major and minor ports and exercise all the functions of
the Director General of Shipping and Director General of Light
House and Light Ships as well as the Tariff Authority for Major
Ports (TAMP). The plan to set up a single Maritime Authority was
one of the steps suggested by the Expenditure Reforms Commission
(ERC) headed by Mr. K.P. Geethakrishnan in order to scale down
the size and operations of the Shipping Ministry. The proposed
Maritime Authority is expected to have a member each in charge
of the ports, shipping, light houses and light ships and finance.
A pre-bid meeting of the interested parties would be held in Mumbai
on June 7 and the offers should be submitted on June 20 for undertaking
the study
Varun
Shipping declares 12% dividend Varun Shipping has recommended
a dividend of 12 per cent for 2001-02.The company's net profit
before tax is Rs 15.2 crore (Rs 17.7 crore) for the year 2001-02.
Its income from operations has marginally risen to Rs 212.8
crore (Rs 21 1.4crore), while profitability was adversely affected
because of weak freight market in the product tanker and LPG carrier
segments in the second half of the financial year.
Seven
SCI bidders complete first round of due diligence Seven prospective
bidders, including Great Eastern Shipping and Essar Shipping,
have completed their preliminary round of due diligence for acquiring
51 per cent controlling stake in the Shipping Corporation Of India,
even as three parties have dropped out of the bidding process.
Malaysian International Shipping Company, Sterlite, BPL, Aban
Loyd-Qatar Shipping and Iffco-Kribhco were the other interested
parties, who completed the initial due diligence. Finolex
group, Hong-Kong based Orient Overseas Container Line Ltd and
CMA-CGM of France failed to turn up during their allotted slots
for the process, which began on April 29. The three data rooms
would remain open during the next week and the parties would be
provided with the latest data and records about SCI, the
sources said adding, the bidders were also expected to conduct
physical examination of ships. MITSUI 0 S K LINES of Japan
had withdrawn its expression of interest much earlier before
the due diligence process started. The Centre currently holds
80.12 per cent stake in SCI
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