Danish shipping group A.P. Moller-Maersk said on Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team as part of plans to deliver more customized logistics solutions. Maersk said the...
Ahmedabad NCLT directs PNB to approach the Mumbai bench in Essar Shipping case
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has directed Punjab National Bank (PNB) to approach the Mumbai bench against Essar Shipping as the lender has already initiated insolvency proceedings...
Cochin Shipyard acquires 100% stake in two dry docks of West Bengal
Cochin Shipyard Limited (CSL) has taken 100 per cent stake in an SPV which it formed along with Hooghly Dock and Port Engineers Limited for modernisation and renovation of the two dry docks on western bank of the...
APSEZ has sufficient financial headroom to absorb proposed buyout in Krishnapatnam Port: S&P
Adani Ports and Special Economic Zone (APSEZ) has sufficient financial headroom to absorb its proposed acquisition in Krishnapatnam Port Company (KPCL), S&P Global Ratings has said. “APSEZ’s strong...
Adani Ports to acquire 75% stake in Krishnapatnam Port Company
Adani Ports and Special Economic Zone on Friday announced its decision to acquire a controlling stake in Krishnapatnam Port Company Limited (KPCL) in what would be the largest acquisition in the port sector in India...
Adani Unit to Buy Majority Stake in Snowman Logistics
Adani Logistics, a wholly-owned subsidiary of Adani Ports on Friday announced its plans to acquire cold-chain operator Snowman Logistics with the latter’s promoter Gateway Distriparks Ltd making a complete exit. The...
Allcargo’s European arm buys logistics firms in HK, Singapore
ECU Worldwide, the European subsidiary of Mumbai-headquartered logistics firm Allcargo Logistics, has acquired majority stakes in Hong Kong-based PAK DA (HK) Logistics and Singapore-based Spechem Supply Chain Management...
GE Shipping’s buyback committee approves closure of Rs 100-crore offer
The country’s largest private shipping firm GE Shipping on Wednesday said its buyback committee has approved closure of Rs 100 crore offer, with the firm utilising almost full size of the issue approved. The...
Belgium’s Antwerp and Zeebrugge ports start talks for possible merger
Europe’s second busiest port Antwerp and nearby Zeebrugge have begun talks on a possible merger after nearly two years of exploratory discussions and a study into how the two could work together more. The two Belgian...
NCLAT gives go ahead to NCLT Mumbai to decide on Adani Ports’ bid for Dighi Port
The National Company Law Appellate Tribunal (NCLAT) on Thursday gave its go ahead to NCLT Mumbai to decide on Adani Ports and SEZ Ltd’s bid for Dighi Port. However, the outcome would be subject to its final order...
Reliance Marine to face insolvency proceedings
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted Reliance Marine and Offshore (RMOL), a subsidiary of the Anil Ambani-controlled Reliance Naval and Engineering, under the insolvency and...
Adani group in talks with Krishnapatnam Port to acquire majority stake
Gautam Adani-led Adani group is in discussions with the promoters of Krishnapatnam Port Company Ltd (KPCL) for acquiring majority stake, a deal if materialises would be about Rs 5,500 crore, sources close to the port...
