
News Update
28 Dec 2024
Shanghai Port achieves record 50 million TEUs in 2024
Shanghai Port has reached a historic milestone, surpassing 50 million TEUs in annual container throughput for the first time, setting a global record. The achievement was celebrated with a festive red container loaded onto a deep-sea liner on December 22. Gu Jinshan, Chairman of Shanghai International Port Group, hailed it as the beginning of a new era for Shanghai’s shipping industry. With nearly 350 international services and connections to over 700 ports globally, the port maintains its leadership in global connectivity and efficiency, further strengthened by innovations like the Shanghai Port Intelligent Command Centre.

27 Dec 2024
BCPL signs MoU with Shyama Prasad Mukherjee Port
BCPL has signed a MoU with Shyama Prasad Mukherjee Port, Kolkata, to establish a logistics chain for transporting cargo from Haldia Dock Complex to BCPL’s petrochemical complex in Dibrugarh. The MoU includes setting up tank warehouses for storing raw materials and creating a well-organized logistics network. The agreement was signed by BCPL and SMPK officials, with Union Ministers Sarbananda Sonowal and Shantanu Thakur attending the event. The initiative, part of the Prime Minister's Gati Shakti plan, will boost trade and infrastructure in the Northeast and enhance BCPL’s investment potential.

27 Dec 2024
Adani Ports places India's largest order of eight harbour tugs worth Rs 450 cr from Cochin Shipyard
Adani Ports and Special Economic Zone Ltd has announced the purchase of eight harbour tugs from Cochin Shipyard Ltd as part of the Make in India initiative. The Rs 450 crore project aims to improve operational efficiency and safety in Indian ports, with deliveries scheduled between December 2026 and May 2028. APSEZ's CEO, Ashwani Gupta, emphasized the company’s commitment to enhancing maritime infrastructure and supporting local manufacturing. This procurement follows previous successful contracts, including the delivery of two ASD tugs, and brings APSEZ’s total order to 13 tugs.

24 Dec 2024
India running phase 1 of developing Iranian southern Chabahar Port
Iran's Ports and Maritime Organization Managing Director, Ali Akbar Safaei, announced that India is now operating the first phase of the Chabahar port development in southeastern Iran. The $120 million project, with $85 million already transferred, marks a significant milestone in bilateral cooperation. The agreement between India Ports Global Ltd and Iran includes equipping and operating the freight and container terminals at Shahid Beheshti Port. The project aims to enhance India's connectivity with Central Asia and the International North-South Transport Corridor, bypassing Pakistan.

23 Dec 2024
Coastal Shipping Bill draws flak
The Coastal Shipping Bill has faced criticism for imposing excessive control over the hiring of foreign-flag ships, which exporters and importers believe will increase transaction costs and reduce the competitiveness of exports. The Bill requires Indian entities, including citizens and companies, to obtain a license to charter foreign-flag ships for operations both along the coast and for international trade. Critics argue that this hampers the ability of Indian firms to efficiently conduct global commodity trading. However, government officials maintain that these provisions mirror existing regulations under the Merchant Shipping Act of 1958.

