Week ending October 21, 2002


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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