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May 28 , 2023 COSCO SHIPPING Lines and OOCL Fleets Improve Supply Chain Service Efficiency            May 28 , 2023 Dedicated Freight Corridor achieves milestone of running 1 lakh trains            May 28 , 2023 Forex reserves dip $6.1 billion to $593.48 billion            May 27 , 2023 PSA acquires stake in Sotrans Group, A leading logistics provider, Forming a strategic partnership with ITL Corporation            May 27 , 2023 E-Commerce to get tax refunds at par with other exports : DGFT            May 27 , 2023 Mawani : Dammam added to MSC’s India to South Africa Service            May 27 , 2023 SMP Kolkata plans to invest Rs 4,000 cr by 2030 to expand capacity : Chairman            May 27 , 2023 Union Minister – MoPSW visits Indian Register of Shipping in Mumbai            May 27 , 2023 Snowman Logistics records annual revenue of INR 417.65 crores            May 27 , 2023 R Dinesh takes over as CII President            
Latest News

PSA acquires stake in Sotrans Group, A leading logistics provider, Forming a strategic partnership with ITL Corporation

May 27 , 2023

E-Commerce to get tax refunds at par with other exports : DGFT

May 27 , 2023

Mawani : Dammam added to MSC’s India to South Africa Service

May 27 , 2023

SMP Kolkata plans to invest Rs 4,000 cr by 2030 to expand capacity : Chairman

May 27 , 2023

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DST News

Adani Ports submit initial bid to buy debt laden Karaikal Port

August 04 , 2022

PUDUCHERRY : Adani Ports and Special Economic Zone Ltd (APSEZ) has placed an initial bid to buy stressed port company Karaikal Port Pvt Ltd which is undergoing resolution under India’s bankruptcy law, multiple sources said.
Karaikal Port Pvt Ltd runs the all-weather Karaikal Port developed on a Build, Operate and Transfer (BOT) format under the Public Private Partnership (PPP) mode on a 30-year concession awarded by the Puducherry Government. The port started operations in June 2009.
A potential deal for Karaikal will add to APSEZ’s presence on India’s 
Eastern seaboard where it acquired Krishnapatnam and Gangavaram Ports in the last two years. APSEZ also runs ports/terminals at Dhamra, Kattupalli, and Ennore.
On the Western coast, APSEZ runs ports/terminals at Mundra, Tuna, Dahej, Hazira, Dighi and Mormugao.
The 12 Ports/Terminals run by APSEZ on the East and West coasts have a capacity to handle a combined 538 million tonnes (mt) of cargo a year.
APSEZ handled 312 mt of cargo in FY22 at a capacity utilisation of 58 percent compared.
“In three years, we expect to grow our cargo volumes by 60 percent to 500 mt as we target to emerge as the world’s largest port operator and India’s largest transport utility by 2030,” Karan Adani, Chief Executive Officer, APSEZ, said in the firm’s annual report for FY22.

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