NEWS IN BRIEF
Allcargo Logistics consolidated Net jumps 36% to Rs 51 cr
Allcargo Logistics Ltd, one of the leading integrated Logistics service providers in India announced 36% jump in consolidated Net Profit after minority interests to Rs 51crore for the quarter ended December 31, 2011 from Rs 37 crore in the year ago quarter....more
Bangladesh woos investors with India-specific SEZs
Armed with duty-free treaty with India, Bangladesh is aiming $1 billion export by this June and has also begun wooing Indian companies to invest in the neighbouring country with SEZs targeting only Indian companies...more
Chennai Port follows HC order, stops coal, iron ore cargo handling
Following the directive of the Madras High Court, the Chennai Port has stopped handling coal and iron ore cargoes.
As a result, the port will lose revenues to the tune of Rs 225 crore which it earned last year by handling 18 million tonnes of coal and iron ore cargoes, said...more
G K Vasan to increase Indian Ports capacity to 3200 million tonnes by 2020
The capacity at Indian ports is likely to increase to 3200 million tonnes by 2020 from the present level of 1170 Million Tonnes. The Indian Ports are aiming at a surplus capacity of above 25% in order to provide berthing facilities on arrival of the ships....more
New Mangalore Port plans to handle 45000 TEU cargo this fiscal
The New Mangalore Port Trust (NMPT) is planning to handle around 45,000 TEUs (twenty-foot equivalent units) of containers during the current financial year....more
Shipbuilding industry may get boost with Govt's plan to revive subsidy scheme
Private shipbuilders including Bharati Shipyard, ABG Shipyard and Larsen & Toubro are likely to see more orders in the coming years as the central government is looking to revive the subsidy scheme for the shipbuilding industry, nearly five years after it expired in 2007...more
Adani sets go ahead on USD 6 billion plus Carmichael Coal project in Australia
Adani Enterprises is all set to mine 60 million tonnes of coal each year from an open cut and underground mine in Australia, for export to India.
The Carmichael Coal Project in the Galilee Basin is the last undeveloped coal resource in Queensland...more
Hindustan Shipyard hands over vessel Good Trade to Goodearth Maritime
Hindustan Shipyard Ltd, functioning under the Union Ministry of Defence, has overcome many of its problems and is on the verge of a turnaround, according to the Flag Officer Commanding-in-Chief of the Eastern Naval Command, Vice-Admiral Anil Chopra....more
New FTP supplement may bring cheers to e-commerce exporters
In a first, the forthcoming annual supplement to the Foreign Trade Policy (FTP) could cover the growing exports through e-commerce and provide some incentives to the micro, small and medium enterprises engaged in the business....more
Zero anti-dumping duty on shrimp exports to US
Giving relief to India’s seafood exports sector, the US Department of Commerce (DoC) has cut anti-dumping duty on frozen shrimp exports to nil. The decision will be effective from next year, when the seventh administrative review on anti-dumping duty completes in March 2013....more |