Port infrastructure may get Rs 2 trillion upgrade

Nigeria Attracts $600M Maersk Investment

Nigeria has secured a significant investment of $600 million from Maersk, a global shipping company, to enhance seaport infrastructure in the country. This investment signals a major boost for Nigeria's maritime sector and underscores the nation's commitment to modernizing its port facilities.

The investment from Maersk is expected to be directed towards the development and expansion of seaport infrastructure in Nigeria, with a focus on improving efficiency, capacity, and technology adoption. The funds will support initiatives aimed at enhancing cargo handling capabilities, reducing tu..

Maersk Explores Baltimore Barge Service

Global shipping giant Maersk is contemplating the launch of a restricted barge service in Baltimore, Maryland, as part of its ongoing efforts to enhance logistical capabilities in the region. This potential service aims to improve connectivity and streamline cargo transportation, leveraging the efficiency and sustainability benefits of waterborne logistics.

While specific details of the barge service are still under review, Maersk's exploration of this initiative highlights the strategic significance of Baltimore as a key maritime hub along the East Coast of the United States. The intr..

Record High: Cruise Tourism Hits 4.7 Lakh Footfall in 2023-24

Cruise tourism in India reached a historic milestone in the fiscal year 2023-24, with footfall soaring to an unprecedented 4.7 lakh visitors, according to data reported by the Ministry of Ports, Shipping, and Waterways. This remarkable surge reflects a growing interest and demand for cruise travel among both domestic and international tourists.

The significant increase in cruise tourism footfall underscores the sector's resilience and potential for growth, despite challenges posed by the COVID-19 pandemic. The surge in visitors is attributed to various factors, including enhanced infra..

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..