The government is likely to invite financial bids for Shipping Corporation of India by September after the process of demerger of non-core assets is completed, an official said. As part of the strategic-sale process...
Karaikal Port admitted for insolvency, Adani Ports & SEZ frontrunner
The Chennai bankruptcy court on Thursday admitted Karaikal Port for insolvency proceedings after it defaulted on payment of about Rs 2,400 crore dues to a lender. Adani Ports and Special Economic Zone (APSEZ) is the...
CMA CGM buys auto logistics firm Gefco as Russia’s RZD, Stellantis exit
French shipping group CMA CGM said on Friday it has acquired nearly 100% of Gefco, the auto transport company previously co-owned by Russian Railways (RZD) and carmaker Stellantis. CMA CGM had been authorised by the...
Hazel-Swan consortium wins race for Reliance Naval
A joint bid by the Hazel Mercantile-Swan Energy combine for the Anil Ambani-promoted Reliance Naval & Engineering secured in its favour votes from about 95% of the lenders by value in a bankruptcy resolution...
Ukraine war a roadblock for SCI privatisation
Shipping Corp. of India Ltd.’s proposed privatization may need to wait until the market turbulence triggered by Russia’s invasion of Ukraine blows over and investors regain confidence. “Globally markets are facing...
NCLT approves APSEZ’s composite scheme to acquire Sarguja Rail Corridor
Adani Ports and Special Economic Zone (APSEZ) on Sunday said the company’s composite scheme to acquire Sarguja Rail Corridor Pvt Ltd (SRCPL) has been approved by the National Company Law Tribunal (NCLT) and will...
Govt extends Shipping Corporation’s bid deadline indefinitely
The government has extended indefinitely the cut-off date for submission of bids for its stake in of India (SCI), according to multiple people aware of the matter. The due date was earlier January 18. Qualified bidders...
Hyundai, Daewoo tie-up faces EU antitrust veto, sources say
South Korean shipbuilder Hyundai Heavy Industries’ proposed acquisition of rival Daewoo Shipbuilding & Marine Engineering Co Ltd is set for an EU antitrust veto after the companies declined to offer remedies...
Seros Logistics acquires a Supra Max vessel to its diversified sea logistics fleet
Multimodal and marine logistics player, Seros Logistics has added a Supra Max vessel to its diversified fleet, taking the total count up to over 40, the company said on Tuesday. The company will operate the “MV...
Greece completes transfer of 16% stake in Piraeus port to COSCO
Greece’s privatisations agency transferred shares corresponding to a 16% stake in Piraeus Port Authority to Chinese port operator COSCO Shipping after an amendment to a previous concession agreement, it said on Thursday...
Adani Ports acquires remaining 10.4% in Gangavaram port
Adani Ports and Special Economic Zone Ltd (APSEZ) Wednesday has concluded acquisition of the remaining 10.4% stake in Gangavaram port from the Andhra Pradesh government forRs 645 crore. “The boards of APSEZ and...
CCI approves Adani Ports and Special Economic Zone’s 10 per cent stake-buy in Gangavaram Port
Fair trade regulator CCI on Monday approved acquisition of over 10 per cent stake in Gangavaram Port Ltd by Adani Ports and Special Economic Zone Ltd. The 10.4 per cent equity shareholding would be acquired from the...
