China’s COSCO Shipping Holdings Co Ltd said on Sunday it offered to buy smaller competitor Orient Overseas International Ltd (OOIL) for HK$49.23 billion ($6.30 billion). COSCO Shipping is acting in coordination...
Shipping ministry opposes stake sale in SCI, Kamarajar Port
The shipping ministry has strongly opposed strategic sale in Shipping Corporation of India (SCI) and some ports under its watch, joining a number of other ministries that are not keen on selling state-run enterprises...
NITI Aayog proposes 26% strategic sale in Shipping Corporation of India
NITI Aayog has proposed strategic sale of about 26 per cent stake in Shipping Corporation of IndiaBSE 9.89 %, which could fetch about Rs 960 crore to the exchequer. According to sources, the core group of secretaries on...
China’s COSCO Shipping buys $228 million stake in Spain’s Noatum Port
COSCO Shipping Holdings Co Ltd (1919.HK) (601919.SS) said it would buy a 51 percent stake in a Spanish container terminal operator for 203.49 million euros ($227.81 million), extending its ports and terminals business...
Panamax acquisition to increase ESL’s fleet strength to 14 vessels
Having acquired a Panamax vessel of 74,005 deadweight tonnage (DWT), Essar Shipping Limited (ESL) has taken its total fleet size to fourteen. Essar Shipping’s fleet now includes very large crude carriers (VLCCs)...
Apollo Logisolutions inks pact with PIL arm Singamas for cold chain logistics
Apollo LogiSolutions (ALS) and Singamas, a subsidiary of Singapore-headquartered Pacific International Lines (PIL) have signed a Memorandum of Understanding to jointly pursue cold chain logistics in India through a...
Krishnapatnam Port promoters seek to buy out 3i Group’s stake
Promoters of Krishnapatnam Port Co. Ltd (KPCL)have approached potential investors to raise up to Rs1,500 crore in structured debt to buy out the stake held by private equity fund 3i Group Plc, two people aware of the...
Maersk could land Danish North Sea oil deal within days: sources
Oil and shipping conglomerate A.P Moller-Maersk could land a deal with the Danish government on oil and gas operations in the North Sea within days, political sources with knowledge of the negotiations told Reuters on...
Swiss group MSC acquires Hanjin’s stake in U.S. ports operator
A unit of Swiss shipping group MSC has bought a stake in U.S. ports operator Total Terminals International (TTI) from Hanjin (117930.KS), MSC said on Wednesday, having overcome objections from the South Korean...
European Commission gives conditional backing to Hapag-Lloyd, UASC merger
The European Commission on Wednesday said it has given its conditional approval to a merger between German container shipping line Hapag-Lloyd (HLAG.DE) and the United Arab Shipping Company (UASC). The merger would...
Shapoorji Pallonji’s port buy plan hits a hurdle
Mumbai: The planned acquisition of a stake in Karaikal Port in Puducherry by Shapoorji Pallonji group has hit a roadblock, with promoters of the all-weather port, Chennai-based MARG Group, refusing to give up management...
ABG Shipyard may sell controlling stake to Russian firm
Debt-laden ABG Shipyard would soon get a new owner as promoters of the company are in advance talks with a Russian shipbuilder for sale of controlling stake. “Talks are in advance stage and the Russian firm is said to...
