• 2008 May 29 08:24

    Mundra Port profit rises 12% in 2007-08

    The company that runs India’s biggest private sector port, Mundra Port and Special Economic Zone Ltd, reported a 12.4% increase in net profit for the year to March, boosted by strong demand for importing raw materials and exporting finished goods.
    Owned by billionaire Gautam Adani, the firm said its net profit rose to Rs210.42 crore in 2007-08 from Rs187.17 crore a year ago. Revenues in the same period increased to Rs844.92 crore from Rs586.95 crore.
    It also recommended a dividend of Rs1.50 a share.
    During?the?year, the?firm?sold shares worth Rs1,771 crore to the public through an initial public offering and became the first port to be listed in India.
    Mundra Port handled 28.8 million tonnes (mt) of cargo in fiscal 2007-08, up from 19.8mt a year ago. The port’s crude oil cargo jumped to 7.1mt from 3.6mt in the year-ago period, said Devendra Amin, the spokesman for the Ahmedabad-based firm.
    The port also handles bulk and container cargo.
    The company is currently constructing a Rs2,000 crore, 30mt capacity a year coal terminal to handle coal imported by Tata Power Ltd and Adani Power Ltd for their planned power projects in Mundra.
    It is also developing a Rs100 crore car export terminal at the port in partnership with automobile maker Maruti Suzuki India Ltd.
    This is part of a plan to increase its cargo handling capacity by adding 12 berths to the existing 13.
    When fully developed by 2012, the port will have the capacity to handle more than 100mt of cargo. “Mundra Port is taking a long-term view to create cargo handling facilities, including berths for handling containers ahead of demand,” said an executive at the company, who didn’t want to be named as he is not authorized to speak to the media.
    The Adani Group has been operating a new container terminal at Mundra since late 2007. “Several new shipping services have started calling at the new terminal and more are expected in coming months,” the same executive said.
    These include weekly direct European services run by Hapag-Lloyd AG and Hamburg Süd, as well as another one by Islamic Republic of Iran Shipping Lines (Irisil).
    The Dubai-government owned DP World already runs a container handling facility at Mundra port, which handled 711,549 20-foot equivalent units (TEUs), in the 12 months to March 2008. The Adani container terminal handled about 50,000 TEUs till March.
    The two container terminals will have a capacity to handle about 2.5 million TEUs a year.

2020 January 18

12:03 Svitzer appoints new regional managing director for Svitzer Americas
11:51 TORM obtains $496m bank financing for the refinancing of existing debt
11:16 Kalmar’s heavy-duty terminal tractors to help Maritime Truck enhance performance at the Port of Oslo
10:52 Port of Rotterdam reports increase in LNG bunkering in 2019

2020 January 17

18:06 Safe Bulkers refinances $105.2 mln of existing loan facilities with respect to eight vessels
17:52 Construction of Borssele 1+2 wind farm off Zeelandic coast begins
17:31 Murmansk Sea Fishing Port handled 263,500 tonnes of cargo in 2019, down 20.4% Y-o-Y
17:06 Wärtsilä solutions support environmentally sustainable performance for two new MSC Cruises's ships
16:50 BIMCO expands ice information service
16:27 A record year for cruise expected at Port of Southampton
16:02 Qatargas delivers first Q-Flex LNG cargo to Summit LNG FSRU in Bangladesh
15:49 Tallink Grupp sets group-wide CSR strategy and sustainable operations goals
15:23 RUB 127.57 billion of federal budget allocations approved for construction of Leader-class icebreaker
15:02 Dublin Port unitised trade up 3.6% in 2019
14:48 Seaspan Shipyards hosts ceremonial keel laying for the Royal Canadian Navy’s future Joint Support Ship
14:30 RF Navy's Black Sea Fleet minesweeper makes planned transition from Sevastopol to Mediterranean Sea
14:14 Diana Shipping announces time charter contract for m/v Astarte with Aquavita
13:51 Turnover of DeloPorts terminals in 2019 decreased by 5% YoY to 8.3 mln tonnes
13:32 SAAM agrees to acquire 70% of Intertug, a towage operator in Colombia, Mexico and Central America
13:03 Flex LNG announces extension of the time-charter agreement for Flex Enterprise
12:37 Kawasaki Heavy Industries delivers bulk carrier FJ VIOLA
12:27 Hapag-Lloyd signs space charter agreement with Maersk and MSC on the Asia-North Europe trade
12:20 Russian Maritime Register of Shipping reports it key 2019 results
12:03 Pyxis Tankers announces completion of sale of Pyxis Delta
11:38 KHI delivers LPG carrier PHOENIX GAIA
11:29 Throughput of Vostochny Port grew by 5.2% to 25.51 million tonnes in 2019
11:03 Eagle Bulk Shipping joins Getting to Zero Coalition
10:36 MABUX: Bunker market this morning, Jan 17
10:28 NYK agrees to MoU with Northern Offshore Group on partnership for crew transfer vessel business for offshore wind power generation systems
09:56 Brent Crude futures price is down 0.05% to $64.59, Light Sweet Crude – down 0.03% to $58.5
09:33 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index is flat at 768 points
07:18 NYK and Van Oord sign MoU to own and operate offshore wind installation vessels in Japan

2020 January 16

18:37 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
17:52 Mikhail Mishustin appointed as the Prime Minister of the Russian Federation
17:31 ClassNK issues Hong Kong Convention Statement of Compliance to Ship Recycling Facility in Bangladesh
17:03 Hapag-Lloyd announces rates from Middle East to Mediterranean and North Europe
16:39 Bunker prices are stable at the Far East ports of Russia following the recent growth (graph)
16:03 Vessels offered free shore power during Parkkade trial in Rotterdam
15:22 The CMA CGM Group is strengthening the organization of CEVA Logistics to begin the second phase of its development
15:03 New Stena Line ferry completes maiden voyage on Irish Sea
14:02 PIL launches new transpacific pendulum service, America Asia Service (AAS)
13:33 Port of Antwerp scores 7th record year in a row
13:02 THE Alliance unveils expanded service network for 2020
12:30 MISC, Samsung Heavy Industries, Lloyd’s Register and MAN Energy Solutions join forces on ammonia-fuelled tanker project
12:01 CMA CGM SSL Intra Europe will update its BAF for Algeria Morocco Tunisia Roro services
11:28 ABB presents recommendation for zero-emission marine technology to US Congress
11:26 Rosmorport summarizes results of its sailing ships's 2019 navigation season
11:01 Dmitry Stepanov appointed as General Director of Astrakhan Shipbuilding Production Association
10:37 IMO continues its work to review GMDSS requirements
10:18 MABUX: Bunker market this morning, Jan 16
09:50 NOVATEK reports preliminary operating data for 2019
09:29 Brent Crude futures price is up 0.69% to $64.44, Light Sweet Crude – up 0.73% to $58.23
09:16 Baltic Dry Index is up to 1,260 points

2020 January 15

18:35 Aker Solutions involved in international brownfield services contract award
18:06 The Convention between Carriers and Ports for OCEAN Alliance held in Boao
17:52 Intermodal unveils fresh new branding
17:46 Eagle Bulk joins Getting to Zero Coalition
17:23 Registration opens for 4th Annual Unmanned Maritime Systems Technology Conference in London