| |
News
Great
Eastern Shipping posts 77 per cent growth in net profits in Q3
Great Eastern Shipping Company has posted impressive third quarter
results with a 77 per cent growth in net profits at Rs.73.52 crore
against Rs. 41.54 crore in the same corresponding quarter last
year. The income at the end of the third quarter stood at Rs.
293.7 crore against Rs. 280.4 crore in the same quarter of the
last financial year, showing a growth of 4.7 per cent. For the
nine-month period, the company recorded total income of Rs.937.9
crore registering a higher growth rate of 17 per cent, as compared
to Rs. 800.1 crore in the same corresponding period of last year.
The net profit at Rs.192.2 in the same nine-month period was higher
by 56.6 per cent, against Rs. 122.8 crore in the corresponding
period of the previous financial year. Operating profit of the
company’s shipping division stood at Rs.57.6 crore, going
up by 11.7 per cent. The shipping division has contributed around
71 per cent of the revenues and 60.3 per cent of the profit. The
impressive performance of the company, against the backdrop of
worldwide downslide in the shipping markets, follows GE Shipping’s
timely action in entering into several long-term charter agreements
reducing its exposure to volatile spot markets.
Shipping
Corporation of India Q3 net profits drops by 71 per cent Shipping
Corporation of India (SCI), has reported a drastic 70.6 per cent
fall in net profit during the third quarter ended December 2001
to Rs. 38 crore as compared to Rs.129.2 crore in the corresponding
quarter of last financial year. The total income at the end of
the third quarter declined by 16 per cent to Rs.726.8 crore from
Rs. 869 crore in the same quarter of the previous fiscal. Of this,
the bulk cargo segment accounted for revenues to the tune of Rs.489.4
crore while liner segment contributed Rs.204.1 crore with the
balance Rs. 69.4 crore coming from other operations.
SAIL
signs 30-year pact with ISPL for Haldia berth Steel
Authority of India (SAIL) has reportedly signed a 30-year pact
with International Seaports (India) Ltd. (ISPL) to use exclusively
berth no 4A at the Haldia Dock Complex of the Calcutta Port Trust.
ISPL is developing the berth on a build-own-operate (BOT) basis
and the berth will be ready by 2003. SAIL exports around two lakh
tones of steel annually through Haldia port and imports nearly
three million tones of coking coal, which is about 45 per cent
of its coking coal requirements. The choice of Haldia as the port
of discharge for imports from Australia and New Zealand was based
on railway freight from the port to steel plants in Rourkela,
Bokaro and Durgapur.
JNPT
calls for tender to appoint advisors for bulk terminal
Jawaharlal Nehru Port (JNP), among the fastest growing ports in
India, with an aggregate cargo handling capacity of about 30 million
tonne per annum (mtpa), has called for bids from experienced financial
advisors to assist the port in redeveloping its bulk terminal
on a build-own- operate (BOT) basis. The terms for appointment
as financial advisors include: services towards finalizing the
bidding process, taking up financial evaluation of the re-development
option, restructuring and managing the bid process, preparation
and negotiation of the license agreement and providing all necessary
assistance till the final selection of the terminal operator.
JNPT has already invited for submission of expression of interest
(EOI) for taking up the redevelopment proposal for its bulk terminal
and is currently reviewing the responses.
GAIL
to join consortium for Kakinada LNG project Gas
Authority of India Ltd. (GAIL) is set to join the consortium of
Indian Oil Corporation (IOC), British Petroleum, Petronas of Malaysia
and Singapore-based Cocanada Port Ltd. for executing the five
million tonne per annum (MTPA) LNG project at Kakinada. While
exact details of the terms of participation are yet to be disclosed,
it is likely that GAIL might pick up 20-25 per cent of the equity
in the $600 million LNG project. The Kakinada LNG project is planned
to be built in two phases and the 5mtpa terminal, which will be
later expanded to 7 mtpa, will have facilities like liquefaction
plants, terminals, tankages, and pipelines.
Work
on Dahej LNG terminal to commence The work on
Rs.2500 crore Dahej LNG import and storage terminal is expected
pick up pace with the laying of the foundation by Union Petroleum
Minister Mr. Ram Naik. The terminal built by Petronet LNG will
have capacity of five million tonne and scheduled for completion
by December 2003. IOC, ONGC, GAIL and BPCL, along with Rasgas
of Qatar, have jointly promoted Petronet LNG for supply of LNG.
So far, all the pre-project activities are completed and the EPC
contract awarded to a Japanese consortium led by Ishikawajima
Heavy Industries (IHI) on a turnkey basis.
TNT
India to enter into logistics services TNT India
is set to enter into logistics business and plans to announce
its investment plans in the next three to six months. The company
will focus on supply chain management (SCM) business of domestic
firms. The company is currently mainly involved in the express
and mail business segments. According to Mr. Kenneth McCall, chief
executive officer, TNT Asia, India has a huge potential in the
logistics segment, with an expected growth rate of about 40 per
cent.
Panalpina
ties up with Safexpress & Miebach Panalpina
World Transport India Pvt. Ltd, provider of forwarding and logistics
services has entered into an alliance with Safexpress and the
Bangalore-based Miebach Logistics to form a cargo network logistics
and supply chain consortium. The strategic alliance, which allows
the three companies to function independently, would however,
link the global network of Panalpina, spread across five continents
with countrywide network of Safexpress. The alliance will offer
third and fourth party logistics and supply chain management services,
backed by Miebach Logistics.
|
|
