JSW Infra looks to bid for ports under govt's privatisation plan
JSW Infrastructure is reportedly among 10 companies, including Dutch dredging contractor Royal Boskalis Westminster N.V, Rail Vikas Nigam Ltd, container Corporation of India Ltd and Essar Ports Ltd, that have submitted expressions of interest for the project. Key Points
Economic TimesAirport cargo worth over C$20 million stolen from Toronto’s airport
A cargo container with gold and other items worth over C$20 million (USD 14.8 million) was stolen from Toronto’s Pearson International airport, authorities said on Thursday. Key Points
The Tribune IndiaAdani’s Mundra Port berths 399 metre-long container ship, equaling 4 football fields
The development comes as Switzerland-based Mediterranean Shipping Company (MSC) and Adani International container Terminal Pvt. Ltd.’s (AICTPL) joint venture completes 10 years. Key Points
Business Todaycontainer shipping’s fat cats require a crash diet
The main problem appears to be supply and not demand. Danish shipping giant Maersk expects global container volume to decline this year. Key Points
Economic TimesRegion’s exporters short of containers
Red Sea attacks, disruption of train services in Punjab to blame. Exporters in the northern region, especially Punjab, Himachal Pradesh and Jammu and Kashmir, are... Key Points
The Tribune India
Red sea container crisis to hit exports
India Business News: A container crisis in the Red Sea is expected to disrupt India's exports to Africa and Latin America. Shipping freight rates are likely to double, affecting exports of petroleum, automobiles, marine food, and agri commodities. Find out more about the impact and potential solutions. Key Points
Times Of IndiaAdani Ports sells 49% stake in unit to Mediterranean Shipping for Rs 247 crore
Adani Ports and Special Economic Zone Ltd (APSEZ) has partnered with Mediterranean Shipping Company's (MSC) Terminal Investment Limited (TiL) for the operation of Adani Ennore container Terminal Pvt Ltd (AECTPL). TiL, an associate of MSC, is set to acquire a 49% stake in AECTPL from APSEZ for Rs 247 crore. This marks the second joint venture between the two companies, following their 2013 joint venture for Adani International container Terminal Pvt Ltd (AICTPL). Key Points
Economic TimesHigher freight costs, container import dependence hurt India’s exports: GTRI
India needs to boost container production, promote domestic use, strengthen shipping firms, and enhance port infrastructure. High freight costs, container shortages, and reliance on foreign carriers challenge exports. Domestic shipping handles only 5-10% of trade volume, with heavy dependence on Chinese containers making India vulnerable to supply disruptions. Key Points
Economic TimesWoman killed, her uncle injured after container hits bike in Mumbra
A woman was killed and her uncle injured after being hit by a container in Mumbra toll Naka. The driver of the container fled the scene. | Mumbai news Key Points
Hindustan TimesTwo measures of corporate health flash red
Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the U.S. tech sector were slashing their marketing spend. Key Points
Reuters
Gautam Adani's new mega port can lure world's biggest ships to India
Located near the southernmost tip of the country, the Vizhinjam transshipment container port — the first of its kind in India that will be inaugurated on Oct. 15 — will allow India to grab a bigger slice of the international maritime trade currently dominated by China. It will also bolster its aspirations to be an alternative manufacturing hub by reducing logistics costs for cargo coming to and from the country. Key Points
Economic TimesAdani Ports gets a rating upgrade from ICRA
The company's upgrade follows a Bloomberg report that revealed plans to significantly increase investment in its southern India trans-shipment container port to Rs 100 billion. This ambitious move aims to attract some of the world's largest ships, according to sources familiar with the matter. Key Points
Economic TimesRed Sea attacks leave shipping companies with difficult choices
The Houthi attacks have continued even after a U.S.-led force was assembled in the Red Sea to prevent them. Key Points
Economic TimesWar, weather put ocean shippers on notice for rough seas in 2024
This is seemingly the new normal - these waves of chaos that seem to rise and fall. Before you get back to some level of normalcy another event happens that sort of throws things out of whack, said Jay Foreman, CEO of Florida-based Basic Fun, who sends toys from factories in China to Europe and the United States. Key Points
Economic TimesMaharashtra: At least 15 killed as container truck hits four vehicles, rams into a hotel in Dhule
The brakes of the truck failed, following which its driver lost control over the wheels. It hit two motorcycles, a car and another container from the rear side. The truck then rammed into a hotel near a bus stop Key Points
Firstpost
Adani Ports: MSC arm picks 49% stake in Adani Ennore container Terminal for Rs 247 crore
The transaction is subject to regulatory approvals, and is expected to be completed within 3-4 months. Once the transaction is completed, APSEZ would hold 51 per cent stake in AECTPL. Key Points
Business TodayDubai's DP World to invest $510 million in India's Gujarat state
Dubai-owned ports giant DP World [RIC:RIC:DPWRD.UL] will invest around $510 million to build a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday. Key Points
ReutersMaharashtra: 12 killed as mini-bus hits container on Samruddhi Expressway
Samruddhi Expressway accident: There were 35 passengers travelling by the bus. The accident took place in Chhatrapati Sambhajinagar district. | Latest News India Key Points
Hindustan TimesMaharashtra: 12 people killed, 23 injured as mini-bus hits container on Samruddhi Expressway
The accident took place at around 12.30 am in Vaijapur area of the expressway in the district, located nearly 350 km from Mumbai. The bus driver lost control over the wheels. As a result, the bus hit the container from the rear side. Key Points
Economic TimesMaharashtra: At least 10 killed as container truck hits four vehicles, rams into a hotel in Dhule
The brakes of the truck failed, following which its driver lost control over the wheels. It hit two motorcycles, a car and another container from the rear side. The truck then rammed into a hotel near a bus stop Key Points
FirstpostMundra Port anchors 400-metre MV MSC Hamburg vessel
New Delhi, Jul 2 (PTI) Adani Ports and Special Economic Zone Ltd (APSEZ) on Sunday said its Mundra Port in Gujarat has anchored or berthed one of the longest container ships in the world. MV MSC Hamburg is 399 metres long and 54 metres wide vessel. The vessel dimension equals 4 football fields, APSEZ said […] Key Points
ThePrintShipping, allied industries battle choppy waters as margins sink
As things stand, freight rates in key transit routes have declined over the past 3-4 months to as much as just a quarter of what they averaged a couple of years ago due to lower consumption in western markets amid global economic headwinds. With that, containers have piled up at Indian ports, resulting in a reversal of the situation from just a year ago when shippers were running from pillar to post to get their hands on empty containers. Key Points
Economic TimesHow Yemeni Houthi rebel attacks on ships in the Red Sea are crimping global trade
The impact struck home Friday when electric car maker Tesla said it had to shut down its factory outside Berlin from Jan. 29 to Feb. 11 due to delays in supply chains, and as U.S.-led airstrikes hit what the Navy said were Houthi missile and drone launch sites in Yemen. Key Points
Economic TimesStocks in news: Hero MotoCorp, ICICI Bank, ITC, PB Fintech, Tata Chemicals, Indian Oil
Benchmark indices show positive momentum for the second consecutive day with lower volatility compared to the results day. Hero MotoCorp, ICICI Bank, ITC, PB Fintech, Tata Chemicals, and Indian Oil are in focus for various news developments. Allcargo Terminals, Bajaj Finserv, RVNL, Muthoot Microfin, and Pidilite Industries have also made significant announcements. Key Points
Economic TimesSaving Suez: As Red Sea attacks threaten global trade, what it means for India?
Suez Canal Incidents: Over 300 vessels have opted for a 6,000 nautical mile diversion around the Cape of Good Hope in recent days. Consequently, transit durations, shipping costs, and insurance premiums have risen, posing a potential disruption to global production timelines. With the Houthi assault in the Red Sea looming over world trade, what solutions can be explored? Key Points
Economic Times
US invests in Adani-led Sri Lanka port project in bid for influence over Indian Ocean
US International Development Finance Corporation announces $553 millionto help develop deep water container terminal in Port of Colombo. 'One-of-its-kind' project, says expert. Key Points
ThePrint55-year-old lynched by cow vigilantes in Bihar
55-year-old Muslim man lynched by cow vigilantes in Bihar's Saran district. 20 people detained. Security stepped up to avoid escalation. | Latest News India Key Points
Hindustan Times