Outlook for Adani Ports and Special Economic Zone Stable: Report
Jayarama Emani | The Dollar Business Three top French banks might have refused to fund Adani groups' mega coal project in Australia's Galilee Basin near the fragile Great Barrier Reef, but the outlook for the group’s Adani Ports and Special Economic Zone Ltd (APSEZL) has been declared ‘Stable,’ by the India Ratings & Research (Ind-Ra) agency. The agency has taken a consolidated view of APSEZL and its subsidiaries. The rating is driven by APSEZL’s strong business profile which is likely to translate into a steady improvement of its financial profile in the next three years. Justifying the rating, Ind-Ra said that APSEZL is by far the largest private sector port developer in the country with a total capacity of ...
Indias shipping industry set for transformation led by key initiatives
Sachin Manawaria | The Dollar Business As per the national policy, Indian Ports are aiming at a surplus capacity of above 25% over the projected demand by 2020 to achieve zero-waiting time for the vessels. Helped by increased investment in the sector and economic growth of India, the capacity at the 13 major ports is expected to increase to around 1,459.5 million tonnes by 2020, which is about two times the current capacity. Meanwhile, the capacity at non-major ports is expected to grow faster to around 1,660 million tonnes, up about seven times from the current levels of around 350 million tonnes. The Ministry of Shipping is targeting investment of Rs. 2.77 lakh crore between 2010 and 2020 ...
Indian government announces measures to reform shipping industry
The Dollar Business Bureau The Indian government has taken a slew of measures to help revive India’s shipping industry and more reforms are likely to be announced soon to help speed up the transformation. India’s merchandise trade is heavily dependent on seaborne trade and ports. According to the Shipping Ministry, India’s shipping industry accounts for around 95% of India’s total merchandise trade by volume and 70% in terms of value. Meanwhile, total cargo traffic in India is forecast to grow to around 1,758 million metric tonnes (MMT) by 2017, up about 92% from around 911.5 MMT in 2012. However, complicated procedures, lack of connectivity and slow paperwork has prevented the shipping industry from transforming itself and meet growing needs. ...
