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...
Hanjin Shipping in talks to sell Long Beach Terminal stake to MSC
Hanjin Shipping Co Ltd (117930.KS) is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A.(MSC), a spokesman for the Seoul court overseeing the...
ABG Shipyard promoters to lose controlling stake
Promoters of debt-laden ABG Shipyard will soon be losing their controlling stake. The lenders have commenced conversion of compulsorily convertible preference shares (CCPS) into equity, part of its debt restructuring...
Stake sale in Russia’s Sovcomflot may involve new shares – sources
By Katya Golubkova and Kira Zavyalova The privatization of a 25 percent stake in Russian state shipping firm Sovcomflot may be equally split between existing and new shares, two sources close to the deal told Reuters on...
RBI allows foreign investors to raise stake in Adani Ports
MUMBAI: Reserve Bank has allowed foreign investors to hike their stakes in Adani Ports and Special Economic Zone Ltd and Multi Commodity Exchange to 49 per cent and 34 per cent, respectively. Foreign Institutional...
