Essar Shipping Q2 loss increases to Rs 62 crore
The Dollar Business BureauEssar Shipping Ltd. on Tuesday announced it has incurred a standalone loss of Rs.61.95 crore for July-September quarter of 2016-17. The company had reported a standalone loss after tax of Rs. 40.79 crore during the corresponding quarter of 2015-16, the shipping major said in a filing to BSE. The company’s standalone total income from its operations fell to Rs.160.6 crore from Rs. 201 crore during the year-ago period. The total expenses also fell to Rs.148.4 crore as against Rs. 220.8 crore during the corresponding quarter of previous financial year. Essar's logistics provides end-to-end logistics services – from ships to ports, lighterage services to plants, intra-plant logistics and dispatching finished products to the final customer. The company has transshipment assets to provide lighterage ...
Essar Ports takes over Vizag iron ore terminal
The Dollar Business Bureau Essar Ports took over the Vizag iron ore outer harbour terminal with two berths on May 14, 2015. Rajiv Agarwal, Managing Director, Essar Ports Ltd; says “We are happy to announce takeover of operations of Vizag outer harbour iron ore terminal which is an existing operational project with no gestation period.” The company also signed a Concession Agreement with Kandla Port Trust (KPT) for additional 1 SPM and 2 product berths and its Salaya project has received all regulatory approvals. Essar Ports current capacity is 120 MMTPA. The capacity is being expanded to 194 MMTPA over the next few years. The company has four operational port terminals at Hazira, Vadinar, Paradip and Vizag Iron Ore. The ...
