World’s first CNG terminal to be set up in Gujarat at a cost outlay of Rs 4,000 crore

A consortium of UK-based Foresight Group and Mumbai-based Padmanabhan Mafatlal Group will develop the world’s first CNG Terminal at an estimated cost of Rs 4,000 crore near Bhavnagar port in Gujarat. The foundation stone for the ambitious CNG Terminal project with a cargo capacity to handle 1.5 million metric tonne per annum (MMTPA) will be […]

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India launches National Logistics Policy to boost ease of doing business and cut transportation cost

Prime Minister Narendra Modi  unveiled the national logistics policy and set a goal to trim the country’s logistics costs from as much as 13-14% of its gross domestic product (GDP) to a single digit over the next few years. The policy aims to ensure seamless movement of goods and services across the country and cut elevated […]

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India’s shipping industry’s margins may fall to 25-30% in FY 23: CRISIL

Margins of the India’s domestic shipping industry may decline to 25-30% in the current fiscal, after hovering between 33-38% in the last two fiscal years, as charter rates across segments are likely to fall, rating agency Crisil said. “The correction in charter rates across segments is also expected to affect player revenues to some extent,” it said. […]

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India committed to developing Chabahar port in Iran: Shipping Minister Sonowal

Ports, shipping and waterways minister Sarbananda Sonowal on Saturday highlighted India’s commitment to developing the Chabahar port in Iran. On a three-day visit to Iran and the UAE, the minister visited the Chabahar port to review its development and also handed over six mobile harbour cranes to Indian Ports Global Chabahar Free Trade Zone (IPGCFTZ), the company […]

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Union Minister unveils projects at Kamarajar Port in Tamil Nadu for seamless movement of cargo

Union Minister Sarbananda Sonowal inaugurated a slew of new infrastructure projects at an estimated cost of Rs 87.26 crore at the Kamarajar Port Ltd (KPL) here aimed at facilitating seamless movement of cargo, officials said on Sunday. The Minister of Ports, Shipping and Waterways and Ayush on a brief visit to the city visited the […]

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Global trade hits record $7.7 trillion in first quarter of 2022 – report

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The value of global trade rose to a record $7.7 trillion in Q1 2022, an increase of about $1 trillion relative to Q1 2021, according to UNCTAD’s Global Trade Update published on Thursday. The growth, which represents a rise of about $250 million relative to Q4 2021, is fuelled by rising commodity prices, as trade volumes have […]

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Asia growth slows on commodities, Covid and rising interest rates

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Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions, the International Monetary Fund (IMF) said. “Regional gross domestic product will expand by 4.9 percent, 0.5 percentage points less than we forecast in […]

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IMF lowers global economic growth to 3.6% due to the Ukraine war

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The International Monetary Fund (IMF) has revised its global economic growth forecast lower at 3.6% this year and the next due to the war in Ukraine and new bottlenecks in supply chains due to Covid-related lockdowns in China. “Compared to our January forecast, we have revised our projection for global growth downwards to 3.6 percent […]

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