Paradip Port eyes top spot among major ports

Paradip Port Overtakes Deendayal Ports

Paradip Port has emerged as India's largest state-owned port, dethroning Deendayal Port which held the title for 16 years. This significant development underscores Paradip's growing stature in the maritime industry and its pivotal role in facilitating trade and commerce. With strategic location advantages and modern infrastructure, Paradip Port has witnessed steady growth in cargo handling, catering to diverse sectors including coal, iron ore, and container traffic. The port's ascendancy to the top spot reflects not only its operational efficiency but also the concerted efforts of stakeholders..

RCL Launches Paradip-Port Klang Service

Revolutionizing trade routes between India and Malaysia, Regional Container Lines (RCL) is set to inaugurate a groundbreaking service linking Paradip Port in Odisha with Port Klang in Malaysia. This initiative, supported under the Odisha Government's Viability Gap Funding (VGF) scheme, marks a significant milestone in enhancing maritime connectivity and fostering economic growth in the region.

The strategic partnership between RCL and the Odisha Government underscores a commitment to bolstering trade and logistics infrastructure, facilitating smoother movement of goods and reducing tra..

Odisha to Compensate MSC's Shortfall

In a significant development, the state of Odisha has announced its decision to compensate Mediterranean Shipping Company (MSC) for the shortfall in minimum volume per call at Paradip Port. This move comes as part of the state's commitment to uphold contractual obligations and maintain a conducive business environment for maritime operations.

The compensation, set at Rs.200 per container, is intended to address the gap between the agreed-upon minimum volume requirements and the actual throughput at Paradip Port. This decision reflects Odisha's dedication to fostering a reliable and..

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..