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News on Shipping
APL
to launch direct service to US East Coast APL,
a leading shipping line is launching a direct service between
the Indian Sub-continent and the US East Coast, via Suez Canal.
Currently APL services connect to the US West coast ports and
trains subsequently move cargo to destinations along the US east
coast. The port rotation includes: Colombo, Tuticorin, Nhava Sheva
and via Suez Canal New York, Norfolk, Charleston, Port Said via
Suez Canal Colombo. The first vessel to sail on the new service
is scheduled to leave from Colombo port on October 28.
News on Ports
P&O
to buy GAPL stake in Mundra box terminal The Adani
group is reportedly selling its container port terminal company
Adani Container Terminal to international port operator and shipping
liner P&O Ports for around $60 million. The Rs 4,200-crore Adani
group has been building a Rs 500-crore container port near their
existing multipurpose port at Mundra, which is operated by Gujarat
Adani Port Ltd, a joint venture with the Gujarat government. The
deal is apparently finalized at around $60 million, though Adani
were earlier hoping to rake in $100-120 million from the sale.
The Adani have already filed an application regarding the proposed
sale with the FIPB and a decision is expected soon. The promoters
had already pumped in around Rs 125-150 crore in setting up basic
infrastructure at the upcoming container port. They are learnt
to have ordered some of the container handling equipment from
abroad. As per the plan of Adani, the container port was being
set up in the Navinal creek, between Navinal and Bocha Island.
New
Mangalore Port records 25 % growth in H1 traffic New Mangalore
Port has registered a 25 per cent growth in its cargo handling
volumes during the first half of 2002-03 (April-September). The
total volume of cargo handled during this period was 10.79 million
tonnes against 8.62 million tonnes handled in the same corresponding
period of previous year. The number of vessels handled during
this period was 414 this year against 382 vessels handled during
the same corresponding period last year. The surge in traffic
is attributed to increased handling of Crude oil and POL products,
iron ore pellets, granite blocks and containerized.
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News on Logistics
Concor's
box terminal at Vizag sets new record The Container
Corporation of India (CONCOR)'s Vishakapatanam terminal has recorded
handling of 657 TEUs during September 2002, which has set a new
record in its monthly performance. The traffic is further expected
to go up from November. Concor is planning to launch its ICD operations
in a full-fledged way in next six months. Concor is also planning
to start a new container freight station (CFS) in the port area
or Marripalem railway goods yard. An area of 10.5 acres is to be
procured from Vizag port for the purpose. The proposed ICD will
initially move boxes by road and rail services would be introduced
once the volumes pick up.
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