News on Ports
- Calcutta Port Trust (CPT) is planning to develop port facilities
at Sagar Island to increase the cargo throughput in its hinterland.
As a part of the plan, CPT would develop all-weather lighterage
facilities at the island, where vessels carrying dry-bulk cargo
with an average load of 30,000 tonnes and those carrying liquid
cargo with an average load 60,000 tonnes could undergo lighterage
operation all over the year. The port has also planned to deepen
the draft to over 12 m at Sagar for the purpose.
Meanwhile, the Calcutta Dock Labour Board (CDLB) has incurred
a huge deficit of Rs.120 million in the first half of the current
fiscal, hence pushing up the estimated total deficit for the
whole to be around Rs.235 million.
- Hazira LNG have floated two investment vehicles to attract
foreign direct investment in Gujarat, where the two companies
Hazira LNG and Hazira Port, fully owned by Shell, would act
as an investment catalyst. The development of the port and LNG
terminal is on schedule and the company is set to award the
procurement and civil contracts.
- Kochi Port handled the maximum volume of seafood exported
from India during the first five months of the current fiscal
amounting to 29,667 tonnes and the value wise exports from Kochi
were to the tune of Rs.4.4 billion during the same period. However
the ports in Tamil Nadu have exceeded the Kochi port in terms
of value in marine exports during this period.
- Public Investment Board (PIB) has cleared
the revised cost estimate of Rs.10.58 billion for India's first
major corporatised port at Ennore. Based on the revised cost
estimates, the Department of Shipping has worked out a debt-equity
ratio of 1.5:1. The construction of the Ennore Port was financed
largely by loans provided by the Asian Development Bank (ADB).
- Visakhapatnam Port has achieved an all-time high operating
surplus of Rs.1.05 billion during 1999-2000 against Rs.0.92
billion during 1998-99. The net surplus during 1999-2000 was
Rs.0.86 billion before making the appropriations of special
nature. The port has already spent Rs.0.95 billion on infrastructure
development projects in 1999-2000. It has achieved the cargo
throughput of 39.51 million tonnes in 1999-2000 against 35.65
million tonnes in 1998-99.
- Mormugao Port is likely to float global tenders
to acquire four barge unloaders with a capacity of 500 tonnes
per hour at an estimated cost of Rs.70 million each to handle
the iron ore traffic. As the port handles large quantities of
iron ore mainly for exports, the barges are deployed for transportation
of the ore from the mines by the inland waterways.
News on Shipping
- SCI board is awaiting the decision of Union
Government on the three-way split as recommended by the PricewaterhouseCoopers
(PwC) to restructure the company into three separate profit
centers viz container division, bulk and tanker (B&T) division
and offshore division. The proposed trifurcation of SCI is aimed
at making the company suitable for investors, focusing on the
respective segments. The decision couldn't be taken in isolation
as it is linked to the divestment programme.
Meanwhile, the Shipping Corporation of India has posted 150%
increase in net profit at Rs.840 million for second quarter
ended September 30,2000 as against Rs.337 million in Q2 last
SCI has recovered dues from the oil companies to the extent
of Rs.3.2 billion over the last three months. The dues have
been reduced significantly to Rs.3.2 billion from the earlier
level of Rs.6.5 billion.
In a separate development, the SCI is likely to hold 50% equity
in the proposed joint venture ship owning and operating company
bidding for LNG shipping deal of Petronet LNG Limited and the
remaining 50% would be held by the foreign consortium partners
such as Mitsui O.S.K. Lines, K Line and NYK Line of Japan.
Meanwhile, the board of SCI has already approved both the ECB
proposals from the Royal Bank of Scotland and the Bank of Nova
Scotia for acquisition of four Aframax carriers for which the
orders have already been placed to Hyundai Heavy Industries
Company Ltd of South Korea.
- Great Eastern Shipping has decided to go in
for a buy back of its shares through open market operations
for which the company has allotted Rs.1.5 billion. The maximum
buyback price at Rs.42 per share translates in to a premium
of about 31% over the existing market price of Rs.32.
- Essar Shipping has registered an increase in net profit to
Rs.200 million for the second quarter ended September 2000,
over Rs.42 million for the same period last year. However, net
sales has declined by 6.7% to Rs.917 million from Rs.984 million.
The increase in net profit was on account of increase in net
charter earnings and reduction in lease/bareboat rentals and
interest cost. The interest expenses stood at Rs.113 million,
whereas depreciation was at Rs.110 million.
Meanwhile, the board of Essar Shipping Ltd. has approved the
proposal to skim off its Vadinar port and terminal project to
a separate subsidiary with a view to restructuring the business
of the company. The project cost had been revised to Rs.18.74
billion from the original estimate of Rs.14.35 billion, following
a re-appraisal by ICICI.
In a separate development, Essar Shipping Limited has announced
its tie up with Malaysia International Shipping Corporation,
Berhad for bidding shipping contract of transporting 5.0 million
tonnes of LNG from Qatar for 25 years at Petronet LNG Limited,
Dahej in Gujarat.
- Ministry of Surface Transport has sought infrastructure status
and access for coastal shipping to the Infrastructure Development
Finance Corporation funds to boost coastal shipping. It has
also approached the Finance Ministry for some fiscal incentives
to this sector besides seeking the due recognition to coastal
shipping by bringing it at par with other modes of transport.
News on Shipyards
- Cochin Shipyard is all set to wipe out its book losses to
the extent of Rs.420 million in 2000-01 by the record net profit
of more than Rs.440 million in 1999-2000. The shipyard, which
has been so far concentrating on traditional activities such
as ship-building, ship-repairs and the construction of offshore
platforms, is planning to explore opportunities in the construction
of sub-sea pipeline required for production and transportation
of crude from offshore oilfields, construction and repair of
LNG vessels and the construction of dredgers for inland waterways
and ships for coastal movement.
News on Logistics
- Union cabinet has approved the ordinance of dedicated fund
for the development and maintenance of National Highways. The
funds, flowing into the dedicated road fund, will be distributed
in the ratio of 57.5% for the development and maintenance of
national highways, 12.5% for the development of rail over bridges
and 30% for the development and maintenance of the State highways.
The Central Road Fund would be managed by the Department of
Road Transport and Highways in the Ministry of Surface Transport.
- Concor is likely to post a turnover of Rs.1.2
billion by the end of the current fiscal, compared to Rs.0.94
billion registered in previous year. Concor has registered a
growth rate of 18% by handling 70,000 TEUs during the half year
ended September, 2000 against 58,000 TEUs in the same period
Meanwhile, the high-speed wagons, procured by Concor is expected
to be inducted into the Chennai/Bangalore-Delhi circuit by November
and likely to reduce the transit time between Chennai and Delhi
segment to 48 hours from the present level of 80-100 hours.
In a separate development, Concor has announced to launch Consea
LCL direct service at ICD-Hyderabad and Bonded Trucking to CFS-New
Mulund/CFS-Dronagiri for re-working and direct sailing. Concor
would act as custodian to the cargo up to the hubs in India,
i.e CFS- Mulund / CFS Dronagiri, where the LCL consolidator
would present the copies of shipping bill to the Customs for
verification of the genuineness of documents and check the marks
and numbers of the seal on truck as recorded in the documents.
Concor has already executed a bond for the transport of the
goods from the ICD and vice versa providing direct connections
from the hub up to the port of destination facilitating faster
reworking, economical transshipment costs and low transit time.
Calcutta Port Trust has invited offers for
Name of the work: Manning, operation and maintenance of "Tug Parashuram"
Tenders can be collected: 14.30 hours on 27-11-2000. Address for
communication: Office of Manager (Marine Operations), Haldia dock
Complex, P.O.-Chiranjibpur, Dist-Midnapore, Pin-721 604.
The Shipping Corporation of India Limited has invited
Name of the work: Sale of Container oriented General Cargo Vessels
on "as is where is basis". The vessels are available for inspection
at Calcutta and Porbunder from 01-11-2000 to 08-11-2000.
Address for communication: The Shipping Corporation of India Limited,
Nehru Center, and Discoveryof India Building, Dr. Annie Besant
Road, Worli, Mumbai-400018. Sealed offers to be submitted between
1500 hrs to 1530 hrs on 09-11-2000
National Highway Authority of India has invited offers
Name of the work: construction of a new two-lane highway with
rigid/ flexible pavement, rigid/flexible overlay on the existing
two-lane pavement, construction of bridges, construction of high
embankment elevated structure etc.
Tenders can be collected: on or before November 09,2000 on any
working day from 11-00 hrs to 17-00 hrs.
Address for communication: Shri J.C Shah, Managing Director, GSRDC,
Ground floor, , Nirman Bhaban , Sector-10/A, Gandhinagar- 382010,
National Highway Authority of India has invited offers
Name of the work: Construction and Supervision of Fourth National
Tenders can be collected: On or before November 09,2000 on any
working day from 11-00 hrs to 17-00 hrs.
Address for communication: Chief General Manager (World Bank),
National Highways Authority of India, 1, Eastern Avenue, Maharani
Bagh, New Delhi-110065
Tel: (91-11) 6824974
Fax: (91-11) 6924383