Lenders of debt-laden Bharati Shipyard have approved a debt recast of Rs 5,600 cr after the empowered group of banks agreed to help the shipbuilding major.
Marg Ltd promoted Karaikal Port Private Limited on Wednesday said that private equity firm, Jacob Ballas, backed by New York Life International has invested Rs 200 crore in the company for a minority stake.
Shipping companies will now have to pay higher tonnage tax after budget 2012-13 increased the rate of daily tonnage income from the shipping companies.
Dubai Ports World, which operates container terminals at major ports in India, is now eyeing minor ports in the country as part of its expansion strategy, as policy hurdles continue to haunt major port projects.
DHL will set up three new FTWZ in India and increase their warehousing capacity as the company looks to expand its foothold in the Indian market.
Logistics player Allcargo Global will demerge two of its business divisions as part of a corporate restructuring plan .
JNPT, the country's largest container port, will seek the shipping ministry's intervention to lower port charges it pays to Mumbai Port Trust.
The top-deck exodus has come at a time when the company is grappling with high debt and ageing fleet in a gloomy offshore market.
A plan to set up a fourth container terminal at Jawaharlal Nehru Port in Nhava Sheva for Rs 6,700 crore was derailed on security grounds last year.
Indian shipping companies are bracing up for a better year ahead as rising trade from Asia and Africa may provide a shot in the arm.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon