Inland waterways to make Varanasi a business hub

Inland waterways to make Varanasi a business hub

Under the 'PM Gati Shakti Multimodal Waterways Summit 2022,' the Government of India has pushed the envelope to make inland waterways a sustainable, cost-effective, and hassle-free mode of transportation. In the presence of Yogi Adityanath, Chief Minister of Uttar Pradesh, and other dignitaries, Sarbananda Sonowal, Minister of Ports, Shipping, and Waterways, inaugurated seven community jetties. Sonowal and Adityanath also laid the groundwork for eight new jetties on the Ganga in Uttar Pradesh.

Speaking on the occasion, Sonowal reportedly stated that under Prime Minister Narendra Mod..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..

Nalanda Capital Sells Stake in Great Eastern Shipping

Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.

The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..