The company has "contracted to sell its 2000-built Suezmax Crude Carriers, Jag Lateef and Jag Laadki of about 1,47,080 dwt (deadweight tonnage) and about 150,284 dwt, respectively," it said in a BSE filing.
The Merchant Shipping Bill, 2020 has been drafted with the primary aim of promoting the growth of Indian shipping industry by incorporating the best practices adopted by other advanced countries like the US, Japan, UK, Singapore and Australia, the Ministry of Ports, Shipping and Waterways said.
The Central Board of Indirect Taxes and Customs (CBIC) had recently issued the revised policy and guidelines for setting up of inland container depots (ICD), container freight stations (CFS) and airfreight stations (AFS) to address the issues of geographical disparity and concentration and aims to align future developments with projects like rail freight corridor and inland waterways.
Speaking to reporters, Goa Chief Minister Pramod Sawant ruled out allegations of compromising on the environment by approving projects like the expansion of a national highway and double-tracking of a railway line.
Ports, Shipping and Waterways Minister Mandaviya said that 1,400 kilometres of waterways have been fully developed and an additional 1,000 kilometres of waterways are being developed on a priority basis.
"There are always inherent challenges involved in the process of moving ODC. In this case, challenges multiplied due to size and shape. However, our project and equipment (P&E) team ensured a safe and hassle-free multimodal movement," said Rahul Rai, Business Head of Project & Engineering Division at Allcargo Logistics Limited.
"The pandemic has caused unparalleled changes to the air cargo industry and it will likely take a long time for the industry to recover to pre-pandemic levels. But having a dedicated fleet and well-implemented contingency plans have helped to keep our network fully operational despite the overnight disappearance of commercial air belly cargo space.
Anil Parab, who is the chairman of MSRTC, said this financial package will help the transport body get back track and will meet expenses such as salaries of employees and fuel costs for the next six months. The transport body had suffered revenue losses of around Rs 3,000 crore during the COVID-19 lockdown period, Parab said, adding that this in turn resulted in pending salaries.
Chennai-based third-party logistics firm RTS Logistics is eyeing to become a Rs 500-crore company in the next 2-3 years, with automotive business majorly driving the growth, its director Narasimhan Raghavan said.
The three-deck Ro-Pax Ferry Vessel 'Voyage Symphony' connecting Hazira in Surat district of south Gujarat and Ghogha in Saurashtra's Bhavnagar has a load capacity of 30 trucks, 100 passenger cars, and 500 passengers plus 34 crew and hospitality staff, it said.