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The port is witnessing green shoots of recovery post lockdown on account of a pickup in activity in steel, power and mining sectors.

Essar Ports handles 75% more cargo in June compared to April

7 July 2020 1:59 PM IST

July 7, 2020: Essar Ports has recorded a cargo handling of 11.23 million tonnes (MT) during Q1 FY21 ended on June 30, 2020, with June registering 4.41...

The port also handled dry bulk shipments of 0.41 million metric tonnes and 0.21 million metric tonnes liquid from April to June 2020.

APM Terminals Pipavav handled 186k TEUs & 622 trains amid lockdown

7 July 2020 11:57 AM IST

July 7, 2020: Since March 24, APM Terminals Pipavav handled 18,60,00 TEUs and out of which 11,00,00 TEUs were transported by 622 container trains.

The shipping company will offer alternative weekly service offerings for Hazira - Jebel Ali by existing feeder partners.

Enormously challenging situation, Hapag Lloyd ends India Gulf Service 2

7 July 2020 1:59 AM IST

July 7, 2020: In a recent advisory, the German shipping line Hapag Lloyd announced the termination of its India Gulf Service 2 (IG2).

Maersk will acquire KGH for a consideration of $279.0 million on a cash and debt-free basis equivalent to a multiple of 16.3x 2019 EBITDA before synergies.

Maersk to acquire Swedish customs broker KGH Customs Services

6 July 2020 3:09 PM IST

July 6, 2020: A.P. Moller - Maersk announced that it has reached an agreement with Bridgepoint Development Capital to acquire KGH Customs Services...

According to the latest report, rates fell by 1.8 percent in June, following on from a 1.2 percent decline in May.

Deploying capacity too soon can collapse ocean freight rates: Xeneta

4 July 2020 2:40 PM IST

July 4, 2020: XSI Public Indices June report from Oslo-based Xeneta raised the concern that shipping companies may release more capacity into the...

Since the projects are mainly driven by the private sector, given the steep economic contraction, many discretionary capital expenditure (capex) plans may be further postponed.

Sagarmala projects to delay 6-12 months; container volume to decline 12-15%: ICRA

30 Jun 2020 9:40 AM IST

June 30, 2020: The credit rating agency ICRA forecasts that the Indian port sector is likely to witness 5-8 percent contraction of cargo volumes in...