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Investors in India are not taking time to thoroughly evaluate relevant information to ensure the financial success of port investments, says Mital Shah, Director of Ports and Buildings at Halcrow Consultings. Project preparation and careful assessment of key risks is often neglected,Mr Shah points out.

Interview: Anil Singh, Vice-President and Managing Director of DP World India Subcontinent.

DP World eyes Dhamra port.

Global container terminal operator, DP World is holding talks with Larsen & Troubo to manage a facility at Dhamra port, North East India, according to well-placed sources in India.
Engineering company Larsen & Toubro (L&T) and TATA steel currently operate Dhamra port under a joint venture. Both companies have declined to comment over L&T’s alleged plans to invest in green-field ports potentially with DP World. Anil Singh, DP World’s Vice President and Managing Director, issued no comment on the alleged talks.
 “It is premature to comment,” Singh told PFI. Industry rumours surrounding DP World’s alleged interest in Dhamra port have emerged after the company said it was looking at India’s Minor Ports rather than the country’s Major Ports which are subject to regulatory controls on tariffs.

New government body created to Identify locations for four new 'big ports' in India.

India’s government has established an advisory body to identifying locations for developing new ‘big ports’ in three southern states.
"A technical committee has been constituted to identify the suitable location for development of major ports in the states of Andhra Pradesh, Karnataka and Kerala,” GK Vasan, India’s Minister of Shipping said on March 26th.
The Indian government currently envisage creating up to four new ‘big ports’, with two hubs on each of the East and West coastlines of India by 2020.
The establishment of new port capacity in India is part of the country’s Maritime Agenda (2010 to 2020).

Ministry of Shipping sends new message to port investors.
See the Ministry of Shipping's 'Message to Investors' here:
http://shipping.gov.in/showfile.php?lid=714

IOC to develop Chennai LNG terminal

The Indian Oil Corporation (IOC) expects to open a new LNG receiving terminal at Chennai by 2015. IOC will build the facility at a cost of INR 45bn ($878.6m).
It will have an initial capacity of 5m TPA and cover an area of 53.4 ha that could be doubled should the need arise.
The IOC is financing for the project, but the Tamil Nadu Industrial Development Corporation (TIDCO) will likely hold a 5% to 10% stake in the terminal, India’s Economic Times said.

Two firms bid for Chennai mega terminal

Adani Ports and Special Economic Zone (APSEZ) and a consortium consisting of Essar Ports and Vadinar Oil Terminal have submitted bids to the Chennai Port Trust (CPT) for the construction of an INR 36.9bn ($720.5m), mega container terminal.
The Hindu said a total of seven companies are eligible to take part in the bidding.
The bids, the newspaper reports, will be opened imminently, with the selected firm chosen on the basis of the highest bid.
The 4m TEU capacity terminal will be developed on a BOT basis with a 30-year concession period.
While CPT will spend around INR 5.6bn on tugs, navigational aids and dredging work, the selected firm will be expected to invest INR 31.3bn in the construction of a 2 km quay and a 4.5 km breakwater.
It will also have to install handling equipment, develop landside infrastructure and reclaim 91 ha of land.
An earlier bid by APSEZ (trading at the time as Mundra Port and Special Economic Zone (MPSEZ)) was rejected for being too low.

GAIL to double LNG capacity at Dabhol

Indian state-run utility GAIL is poised to double capacity of Dabhol power project's LNG import facility to 10 million tonnes a year, said company chairman B C Tripathi after hosting the seventh Asia Gas Partnership Summit on March 24th.
The 2,000 mw Dabhol power project, situated in Ratnagiri between Mumbai and Goa, is operated by an equal joint venture of GAIL and generation utility NTPC. 
GAIL is in charge of the LNG terminal, while NTPC looks after the generation.
GAIL is looking to tie-up up to 2 million tonnes of LNG for import at the India's third LNG terminal. The summit was inaugurated by Prime Minister Manmohan Singh.
"We are in discussions with suppliers for buying 1-2 million tonne a year of LNG on a short-term contract of up to 3 years," Tripathi said. 
The terminal, which will take about 45-days to be fully commissioned, is expected to operate at less than 60% of capacity in the absence of a breakwater, which guards ships against high tides. In the absence of breakwater, the terminal may not be able to operate during four monsoon months beginning at end of May.
The construction of a breakwater is likely to be completed in 2013-14 after which the LNG terminal will become fully operational. India is the world's eighth-largest importer of LNG and those imports could rise as much as five-fold in the next decade as domestic gas output falls and demand surges. The recent development of bi-lateral trade talks with Pakistan means India could be soon trading LNG to Pakistan.
"We are talking to various parties. We will decide on the deal in next three months," Tripathi told reporters at Asia Gas Partnership Summit. "It all depends on how successful are we in commissioning the terminal."
He said a consortium of Indian companies which own the Dabhol terminal was considering doubling the plant's capacity to 10 million tonnes a year.
India needs gas to help power electricity generation, its fertiliser sector, city gas distribution and for industries.

Dighi Port secures $6million investment from Ultra Tech.

Aditya Birla Group subsidiary, UltraTech, has pledged to invest $6 millon at Dighi Port Limited, Vishal Kalantri, Director of Dighi Port Limited, told PFI.
“UltraTech has promised $6million of investment at Dighi Port Limited,” Kalantri said.
UltraTech and Binani Cement have been in talks since 2011 with port developers to set up grinding and packaging plants directly at Dighi Port. The port has a total land of about 1,000 acres allocated for factories and also for developing Dighi's special economic zone (SEZ) and free trade warehousing zone (FTWZ). In March, the Indian administration selected Dighi Port, as one of the seven Manufacturing Industrial Zone’s under the Delhi-Mumbai industrial corridor.

Two French investment and construction groups have teamed up to invest up to €150m ($199.5m) in major new port logistics zone at Fos, near Marseilles, in Southern France, Grand Port Maritime de Marseille,(GPMM,) said on Wednesday.

The Canadian government is to invest C$15.6m ($15.6m) from its Gateways and Border Crossings Fund to modernise Quebec’s Port of Montreal while also increasing navigation in the St Lawrence Channel.

Mediterranean Union inspired infrastructure finance fund, Inframed, has secured its first acquisition with the purchase of a 20% in the Turkish port of Iskenderun.

Spanish wind turbine power Gamesa today said it had signed a preliminary contract with the Port of Leith near Edinburgh for a €150 million ($197.9 million) investment to build two new offshore wind manufacturing plants on the site.

23/03/2012 APM Terminals has won a 33-year concession to build and operate a box terminal at Moin, Costa Rica.

India must deregulate its Tariff Authority for Major Ports (TAMP) in order to curtails delays to investments today urged Luxman Radhakrishnan, Chairman of India’s Jawaharlal Nehru Port Trust (JNPT).

South Africa's Transnet has officially opened the deep water Port of Ngqura near Port Elizabeth in the Eastern Cape at a cost of more than ZAR 10bn ($1.3bn).

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Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

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