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| NEW DELHI : Israel has no concerns about the Adani Group’s plans to expand its presence in the country after taking over the strategic Haifa port as it is a “good deal” that could pave the way for more investments from the Indian side, Israeli economy and industry minister Nir Barkat said. |
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| SRIKAKULAM : Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Wednesday laid the foundation stone for the Rs 4,362 crore Mulapeta greenfield port in Srikakulam district, which is expected to completed within two years. |
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| NEW DELHI : The central government’s PM Gatishakti National Master Plan (NMP) platform has over 1,450 data layers mapped onto it by various ministries and departments of the central and state governments for integrated planning for multimodal logistics and support data-based decision-making, a senior Union commerce ministry official has said. |
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| NEW DELHI / MOSCOW : India and Russia are discussing a free trade agreement (FTA) India’s Foreign Minister S. Jaishankar said on Monday, a move that would further deepen bilateral commercial ties that have flourished since war broke out in Ukraine. |
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| HUBBALLI ; VRL Logistics plans to expand its fleet size to approximately 7,200 trucks by the next financial year, following its latest order of 1,560 trucks. Currently, it has around 5,700 trucks. In line with the increasing fleet size, Mr. Vijay Sankeshwar, the Managing Director of VRL Logistics, also expressed his ambition to grow the company by 25–30 per cent in FY24. |
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| AHMEDABAD : Adani Ports and Special Economic Zone Limited (APSEZ) Board will meet on April 22 to consider its first and partial buyback of debt securities in the current financial year. The securities denominated either in Indian rupees or US dollar will be part of the buyback. |
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| GANDHINAGAR : In a landmark step towards boosting ship leasing & chartering services in India, RSCPL (IFSC) Private Ltd, a 100 per cent subsidiary of RBB Ship Chartering Pte Ltd, Singapore, has been issued final Certification of Authorization to operate from International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) Multi SEZ, Gandhinagar. |
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| BEIJING : World’s largest containerships global fleet has expanded once again, with the addition of another 24K TEU vessel, MSC Loreto. The vessel was built by Yangzi Xinfu Shipbuilding, a subsidiary of Yangzijiang Shipbuilding Group for China’s Bank of Communications Financial Leasing (Bocomm Leasing) and MSC Mediterranean Shipping Company. |
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| MUMBAI : Hapag-Lloyd on Wednesday successfully completed its acquisition of 40% shareholding in the J M Baxi Ports & Logistics Limited (JMBPL) previously approved by the relevant antitrust authority. In January 2023, Hapag-Lloyd had made an agreement to this effect with an affiliate of Bain Capital Private Equity, which held a 35% stake in JMBPL, and the Kotak family, which holds a majority of the shares of JMBPL, according to a release. |
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| NEW DELHI : With software exports hitting a record high of USD 320 billion in FY23, the country’s share in global computer services exports has jumped to around 11 per cent in the year, according to an analysis. But the country still lags in the overall services export share at about 4 per cent, according to analysis of the trade data for FY23 by DBS senior economist Radhika Rao. |
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| NEW DELHI : Buoyed by a significant jump in exports during 2022-23, Services Export Promotion Council (SEPC) on Wednesday said the healthy growth trend will continue and shipments are expected to reach up to USD 400 billion this fiscal. During 2022-23, the country’s services exports rose by 42 per cent to USD 322.72 billion from USD 254 billion in 2021-22, according to provisional data from the Commerce Ministry. |
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| NEW DELHI : The National Highways Authority of India (NHAI) is working towards the development of around 10,000 kilometres of optic fibre cables (OPC) infrastructure across the country by FY24-25, the Ministry of Road Transport and Highways said in a statement on Wednesday. |
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| NEW DELHI : India must bring down the overall cost of logistics to improve its ranking in the ‘ease of doing business’ index. The movement of goods and services through this vast country is expensive and inefficient, with the overall logistics cost at about 14 percent of GDP being significantly higher than many other countries. |
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| TOKYO : ClassNK has released “Guidelines for Additional Fire-fighting Measures for Container Carrier”, which specify requirements for indicating additional fire safety measures on container carriers as a class notation. |
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| | India Shipping News is an Online Web Portal which delivers fastest and most relevant current news on Shipping, Logistics, Maritime and Export- Import industry. |
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