Sonowal announces Dhubri port's infrastructure upgrade

$120 mn investments, $250 mn credit for Chabahar Port growth

The signing of the Long Term Bilateral Contract on Chabahar Port Operations occurred in the presence of HE Mehrdad Bazrpash, Minister of Roads & Urban Development, Iran, and India's Minister of Ports, Shipping, and Waterways Sarbananda Sonowal.

It has been learned that India's 10-year bilateral contract with Iran for the operation of Chabahar Port is expected to attract an investment of around $370 million. This investment consists of a direct contribution of $120 million from India for infrastructure development and a $250 million line of credit to Iran.

India's commitment o..

No plans to privatise ports, shipping

The Government of India clarified that there are no ongoing discussions about privatisation of shipping and ports. The Ministry of Ports, Shipping and Waterways (MoPSW) emphasised that all 12 major ports, which are entirely owned by the Central Government, have not been privatised. However, the government has shown openness to private sector participation through Public-Private Partnerships (PPPs). Under these partnerships, private entities can engage in specific projects, berths, and terminals through concession agreements. These agreements involve a competitive bidding process. The terms ..

Union Minister Boosts North East Waterways with Rs 308 Cr Push

In a significant move aimed at bolstering connectivity and driving economic growth in the North East region, Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, unveiled a series of development projects totaling Rs 308 crores. The launch event, held in Guwahati, marked a major push towards harnessing the potential of inland waterways to enhance trade and commerce in the region.

Simultaneously conducted across multiple locations including Bogibeel in Dibrugarh, Badarpur in Karimganj, IWAI port in Dhubri, and Sonamura in Tripura, the event showcased the inauguration of cru..

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..