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 […]
The West Bengal cabinet on Monday approved a proposal for issuing a letter of intent to Adani Ports and Special Economic Zone for development of a greenfield deep sea port at Tajpur, paving the way for an estimated investment of Rs 25,000 crore, a senior minister said. The West Bengal Maritime Board will issue the LoI to […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, may look at setting up a fourth facility in the country to meet the rising energy demand in Asia’s third-largest economy, its CEO A K Singh said. Petronet operates a 17.5 million tonnes a year LNG import facility at Dahej in […]
