Tuesday, 28 Feb 2012
Press TV reported that India’s largest refiner has chartered a tanker to enable the South Asian country to import more crude oil from the Islamic Republic.
The Indian Oil Company has booked the Mykonos Warrior, currently sailing in the Indian Ocean to ship more than 130,000 tonnes of Iranian crude to Mundra on India’s west coast in March. The Liberia flagged vessel is reportedly expected to arrive in Iran’s Kharg Island on March 9th 2012.
India purchases around USD 12 billion worth of Iranian crude every year about 12% of its total consumption. In January, Iranian crude exports to India rose to 550,000 barrels a day up 37.5% from December 2011.
New Delhi’s growing interest in expanding its trade ties with Tehran comes as the Western powers recently adopted fresh sanctions against Iran's oil and financial sectors and have ever since sought to pressure other countries to follow suit.
On December 31st 2011, The United States imposed new sanctions against the Islamic Republic aimed at preventing other countries from importing Iran’s oil and doing transactions with its Central Bank.
European Union foreign ministers also approved sanctions against Iran’s oil and financial sectors on January 23rd 2012 including a ban on Iranian oil imports, a freeze on the assets of the country’s Central Bank within EU states and a ban on selling diamonds, gold and other precious metals to Tehran.
Many observers believe that India will press on with its plan to increase trade ties with the Islamic Republic despite the fresh Western sanctions.
(Sourced from Press TV)
Showing posts with label Mundra Port. Show all posts
Showing posts with label Mundra Port. Show all posts
Tuesday, February 28, 2012
Monday, December 12, 2011
Mundra Port delivers record coal to Adani Power
Monday, 12 Dec 2011
The Mundra Port and SEZ, the country's top private multi-port operator and a subsidiary of Adani Enterprises Ltd, has said its West Basin bulk coal handling terminal in the Gulf of Kutch delivered 62,718 tonnes a day of coal to Adani Power's power plant located adjacent to the port.
This large tranche of coal was delivered recently through a high speed conveyor belt at a speed of 6,000 tonnes per hour. The belt runs across 20 kilometers from the port to the power plant.
Adani Power Ltd is setting up a 4,620MW imported coal fired power plant at Mundra, while TATA Power Company is constructing a 4,000 MW ultra power project nearby.
Dr Malay Mahadevia whole time director at MPSEZ said the West Basin is Asia's largest coal import terminal, set up primarily to supply imported coal to the power plants in the region. It can handle capsize vessels up to 250,000 DWT and will have draft of 19.5 metres when fully developed.
Mundra Port, the country's fourth-largest commercial port, is expanding the West Basin terminal and construction for the fourth berth is going on in full swing. The company is also augmenting the material handling system to cater to additional volumes of imported coal for power plants in the vast North West Indian hinterland.
Last month, Mundra Port also commenced double-stack container trains to help control transportation costs. The trains are running from Mundra Port to Patli near Gurgaon, Haryana, thus, connecting Northern India to the west.
Keywords: West Basin bulk coal handling terminal, Gulf of Kutch,
(Sourced from BL)
The Mundra Port and SEZ, the country's top private multi-port operator and a subsidiary of Adani Enterprises Ltd, has said its West Basin bulk coal handling terminal in the Gulf of Kutch delivered 62,718 tonnes a day of coal to Adani Power's power plant located adjacent to the port.
This large tranche of coal was delivered recently through a high speed conveyor belt at a speed of 6,000 tonnes per hour. The belt runs across 20 kilometers from the port to the power plant.
Adani Power Ltd is setting up a 4,620MW imported coal fired power plant at Mundra, while TATA Power Company is constructing a 4,000 MW ultra power project nearby.
Dr Malay Mahadevia whole time director at MPSEZ said the West Basin is Asia's largest coal import terminal, set up primarily to supply imported coal to the power plants in the region. It can handle capsize vessels up to 250,000 DWT and will have draft of 19.5 metres when fully developed.
Mundra Port, the country's fourth-largest commercial port, is expanding the West Basin terminal and construction for the fourth berth is going on in full swing. The company is also augmenting the material handling system to cater to additional volumes of imported coal for power plants in the vast North West Indian hinterland.
Last month, Mundra Port also commenced double-stack container trains to help control transportation costs. The trains are running from Mundra Port to Patli near Gurgaon, Haryana, thus, connecting Northern India to the west.
Keywords: West Basin bulk coal handling terminal, Gulf of Kutch,
(Sourced from BL)
Tuesday, November 29, 2011
MPSEZ rises on delivering record amount of coal a day
Tuesday, Nov 29, 2011
Mundra Port and Special Economic Zone rose 2.77% at Rs. 129.75 at 11:06 IST after the company said that its West Basin bulk coal handling terminal has delivered a record 62,718 tonnes a day coal to Adani Power's plant located adjacent to the port.
The announcement was made after market hours on Monday, 28 November 2011.
Meanwhile, the BSE Sensex was down 46.46 points, or 0.29%, to 16,120.67.
On BSE, 1.13 lakh shares were traded in the counter as against an average daily volume of 2.12 lakh shares in the past one quarter.
The stock hit a high of Rs. 130.55 and a low of Rs. 125.30 so far during the day. The stock had hit a 52-week low of Rs. 115.25 on 25 November 2011. The stock had hit a 52-week high of Rs. 169.75 on 28 October 2011.
The stock had underperformed the market over the past one month until 28 November 2011, sliding 22.50% compared with the Sensex's 9.20% decline. The scrip had also underperformed the market in past one quarter, falling 9.95% as against 2.01% rise in the Sensex.
The large-cap private port and special economic zone has an equity capital of Rs. 400.68 crore. Face value per share is Rs. 2.
This large tranche of coal was delivered through a world class high speed conveyor belt at a speed of 6,000 tonnes per hour. The belt runs across 20 kilometre from the port to the power plant, a statement by Mundra Port and Special Economic Zone (MPSEZ) said.
Adani Power, one of the country's largest private thermal power producers, is setting up a 4,620 megawatts (MW) power plant in Mundra, Gujarat while Tata Power is constructing a 4,000 MW ultra mega power project at the same location.
“The accomplishment of import and time-bound delivery of first such large tranche of coal establishes MPSEZ's prowess in developing world-class port infrastructure in India and abroad. The feat could be achieved by better planning skills, state-of-the-art Mundra Port and Special Economic Zone Limited mechanization and dedication of the port operator, displaying its leadership position in the port infrastructure sector,” said Dr. Malay Mahadevia, Whole Time Director at MPSEZ.
The West Basin is Asia's largest coal import terminal and has been set up to primarily cater to supply imported coal to the power plants in the region. It can handle capsize vessels up to 250,000 deadweight tonnes (DWT) and will have draft of 19.5 meters when fully developed.
Mundra Port is expanding the West Basin terminal and construction for the fourth berth is going on in full swing. The company is also investing heavily in augmentation of the material handling system to cater to additional volumes of imported coal for power plants in the vast North West Indian hinterland.
Last month, Mundra Port also commenced double stack container trains to help control transportation costs. The trains are running from Mundra Port to Patli near Gurgaon, Haryana, thus connected Northern India to the west.
Net profit of MPSEZ rose 29.17% to Rs. 273.42 crore on 44.20% rise in net sales to Rs. 587.76 crore in Q2 September 2011 over Q2 September 2010.
Mundra Port provides cargo handling and other value-added port services. Mundra SEZ is India's first port-based multi-product special economic zone.
Sourced IIFL
Mundra Port and Special Economic Zone rose 2.77% at Rs. 129.75 at 11:06 IST after the company said that its West Basin bulk coal handling terminal has delivered a record 62,718 tonnes a day coal to Adani Power's plant located adjacent to the port.
The announcement was made after market hours on Monday, 28 November 2011.
Meanwhile, the BSE Sensex was down 46.46 points, or 0.29%, to 16,120.67.
On BSE, 1.13 lakh shares were traded in the counter as against an average daily volume of 2.12 lakh shares in the past one quarter.
The stock hit a high of Rs. 130.55 and a low of Rs. 125.30 so far during the day. The stock had hit a 52-week low of Rs. 115.25 on 25 November 2011. The stock had hit a 52-week high of Rs. 169.75 on 28 October 2011.
The stock had underperformed the market over the past one month until 28 November 2011, sliding 22.50% compared with the Sensex's 9.20% decline. The scrip had also underperformed the market in past one quarter, falling 9.95% as against 2.01% rise in the Sensex.
The large-cap private port and special economic zone has an equity capital of Rs. 400.68 crore. Face value per share is Rs. 2.
This large tranche of coal was delivered through a world class high speed conveyor belt at a speed of 6,000 tonnes per hour. The belt runs across 20 kilometre from the port to the power plant, a statement by Mundra Port and Special Economic Zone (MPSEZ) said.
Adani Power, one of the country's largest private thermal power producers, is setting up a 4,620 megawatts (MW) power plant in Mundra, Gujarat while Tata Power is constructing a 4,000 MW ultra mega power project at the same location.
“The accomplishment of import and time-bound delivery of first such large tranche of coal establishes MPSEZ's prowess in developing world-class port infrastructure in India and abroad. The feat could be achieved by better planning skills, state-of-the-art Mundra Port and Special Economic Zone Limited mechanization and dedication of the port operator, displaying its leadership position in the port infrastructure sector,” said Dr. Malay Mahadevia, Whole Time Director at MPSEZ.
The West Basin is Asia's largest coal import terminal and has been set up to primarily cater to supply imported coal to the power plants in the region. It can handle capsize vessels up to 250,000 deadweight tonnes (DWT) and will have draft of 19.5 meters when fully developed.
Mundra Port is expanding the West Basin terminal and construction for the fourth berth is going on in full swing. The company is also investing heavily in augmentation of the material handling system to cater to additional volumes of imported coal for power plants in the vast North West Indian hinterland.
Last month, Mundra Port also commenced double stack container trains to help control transportation costs. The trains are running from Mundra Port to Patli near Gurgaon, Haryana, thus connected Northern India to the west.
Net profit of MPSEZ rose 29.17% to Rs. 273.42 crore on 44.20% rise in net sales to Rs. 587.76 crore in Q2 September 2011 over Q2 September 2010.
Mundra Port provides cargo handling and other value-added port services. Mundra SEZ is India's first port-based multi-product special economic zone.
Sourced IIFL
Friday, November 18, 2011
Mundra Port up; bulk cargo to be growth driver
Friday, 18 Nov, 2011 Sourced:Reuters
Shares in Adani group company Mundra Port rose 3.7 percent on expectations that bulk cargo and containers handled by it to become group's key growth drivers over the next two years, an institutional sales person with a local brokerage said.
In May, Mundra Port agreed to buy Abbot Point Coal Terminal (with handling capacity of 50MMT) in Australia for $2 billion in an all-cash deal to tap into growing coal traffic in overseas market, which in analyst view was a good deal for Mundra port.
"Mundra Port handled 16.9 million tonnes of cargo in Q2 FY12 and management expects the port to handle 80 million tonnes in FY12 and 100 mn tonnes in FY13. In line with the strong growth in its cargo volumes, Mundra Port's revenue and net profit is expected to grow 39.1 percent and 16.6 percent respectively in FY12," First Global said in a note.
At 1.29 p.m., the stock was at 136.70 rupees, up 3.29 percent, bucking the trend in a weak Mumbai market, which was down 1 percent.
Shares in Adani group company Mundra Port rose 3.7 percent on expectations that bulk cargo and containers handled by it to become group's key growth drivers over the next two years, an institutional sales person with a local brokerage said.
In May, Mundra Port agreed to buy Abbot Point Coal Terminal (with handling capacity of 50MMT) in Australia for $2 billion in an all-cash deal to tap into growing coal traffic in overseas market, which in analyst view was a good deal for Mundra port.
"Mundra Port handled 16.9 million tonnes of cargo in Q2 FY12 and management expects the port to handle 80 million tonnes in FY12 and 100 mn tonnes in FY13. In line with the strong growth in its cargo volumes, Mundra Port's revenue and net profit is expected to grow 39.1 percent and 16.6 percent respectively in FY12," First Global said in a note.
At 1.29 p.m., the stock was at 136.70 rupees, up 3.29 percent, bucking the trend in a weak Mumbai market, which was down 1 percent.
Sunday, November 6, 2011
PGCIL plans INR 5000 crore for transmission network in Gujarat
Sunday, 06 Nov 2011
State run Power Grid Corporation has set aside around INR 5,000 crore for setting up transmission network in Gujarat by October next year.
A company official said that PGCIL's network would connect Bhachau, Morbi, Lalpar and Halvad at Gujarat's Kutch district.
The official said that the company has already commissioned transmission system for two units of the Mundra Ultra Mega Power Project in Gujarat. These are part of the transmission system associated with Mundra UMPP, being implemented by Power Grid at an estimated cost of about INR 5,000 crore.
The 4,000 MW Mundra project, being developed by TATA Power, will be the first UMPP to start power generation in the country.
The line is ready to evacuate power from two units of Mundra UMPP (2X800 MW) in normal condition and more than 1,200 MW in the contingency.
The system commissioned consists of high capacity Mundra-Bachau-Ranchodpura 400 kV Double circuit line along with 630 MVA Bachau 400/220 kV sub-station.
These are part of the transmission system associated with Mundra UMPP, being implemented by Power Grid at an estimated cost of about INR 5,000 core.
About 770 circuit kilometres transmission line has been commissioned in challenging conditions like passing through tough terrains in creek area of Arabian Sea, excessive water logging due to heavy rains, etc.
(Sourced from PTI)
State run Power Grid Corporation has set aside around INR 5,000 crore for setting up transmission network in Gujarat by October next year.
A company official said that PGCIL's network would connect Bhachau, Morbi, Lalpar and Halvad at Gujarat's Kutch district.
The official said that the company has already commissioned transmission system for two units of the Mundra Ultra Mega Power Project in Gujarat. These are part of the transmission system associated with Mundra UMPP, being implemented by Power Grid at an estimated cost of about INR 5,000 crore.
The 4,000 MW Mundra project, being developed by TATA Power, will be the first UMPP to start power generation in the country.
The line is ready to evacuate power from two units of Mundra UMPP (2X800 MW) in normal condition and more than 1,200 MW in the contingency.
The system commissioned consists of high capacity Mundra-Bachau-Ranchodpura 400 kV Double circuit line along with 630 MVA Bachau 400/220 kV sub-station.
These are part of the transmission system associated with Mundra UMPP, being implemented by Power Grid at an estimated cost of about INR 5,000 core.
About 770 circuit kilometres transmission line has been commissioned in challenging conditions like passing through tough terrains in creek area of Arabian Sea, excessive water logging due to heavy rains, etc.
(Sourced from PTI)
Monday, August 8, 2011
India: Gujarat Bans Ships Over 25 Years Old After MV RAK Carrier Sinks
Monday, August08, 2011
Ships over 25 years old will be banned from entering India’s key oil, container and dry cargo ports situated in the country’s west coast state of Gujarat in the wake of a coal carrier sinking near the port of Mumbai, according to a circular sent by a Mundra port official.
“In light of MV RAK Carrier sinking off the coast of Mumbai and the resulting pollution, which is now threatening the Mumbai Coastline, the state maritime regulator GMB has decided to ban entry of ships over 25 years of age,” an official from Mundra’s port operation center said in the circular.
“The formal notification to this effect will be issued shortly by GMB.” The Gujarat Maritime Board or GMB, which is the maritime authority of the state, oversees the safety and regulatory aspects at ports such Kandla, Mundra, Sikka, Dahej, Vadinar and Hazira.
According to a shipping agency source, the ban on vessels over the age of 25 years is also applicable to tankers.
“I hope they don’t relax the restrictions once the monsoon is over. They had made such moves earlier, too, but again the authorities became a little lenient in allowing older vessels into the Indian ports,” the source said about moves made earlier when accidents happened.
The MV Rak Carrier, a 27-year-old Panama-flagged dry bulk carrier sank off the Mumbai coast late last week while it was on its way from Indonesia’s Tutung port with 60,000 tonnes of coal to Dahej.
The vessel had about 290 mt of fuel oil and 50 mt of marine gasoil on board, local media reports said Monday.
“GMB has however advised MPSEZ those ships of 25 years of age which have already been chartered and are proceeding to GMB administered ports will be permitted to enter GMB owned port after they have taken clearance from GMB on case to case basis as an interim measure,” the Mundra’s port operation center official said.
“It is however to be noted that no new chartering of vessel over 25 years old is to be henceforth carried out if the vessels are planning to work cargo at any GMB owned port. Such vessels will be banned from entering GMB administered port.” Ports in Gujarat are key for crude discharge as well as for product loading since many refineries are located there while several in India’s hinterland receive their crude through pipelines from the area.
(sourced Platts)
Ships over 25 years old will be banned from entering India’s key oil, container and dry cargo ports situated in the country’s west coast state of Gujarat in the wake of a coal carrier sinking near the port of Mumbai, according to a circular sent by a Mundra port official.
“In light of MV RAK Carrier sinking off the coast of Mumbai and the resulting pollution, which is now threatening the Mumbai Coastline, the state maritime regulator GMB has decided to ban entry of ships over 25 years of age,” an official from Mundra’s port operation center said in the circular.
“The formal notification to this effect will be issued shortly by GMB.” The Gujarat Maritime Board or GMB, which is the maritime authority of the state, oversees the safety and regulatory aspects at ports such Kandla, Mundra, Sikka, Dahej, Vadinar and Hazira.
According to a shipping agency source, the ban on vessels over the age of 25 years is also applicable to tankers.
“I hope they don’t relax the restrictions once the monsoon is over. They had made such moves earlier, too, but again the authorities became a little lenient in allowing older vessels into the Indian ports,” the source said about moves made earlier when accidents happened.
The MV Rak Carrier, a 27-year-old Panama-flagged dry bulk carrier sank off the Mumbai coast late last week while it was on its way from Indonesia’s Tutung port with 60,000 tonnes of coal to Dahej.
The vessel had about 290 mt of fuel oil and 50 mt of marine gasoil on board, local media reports said Monday.
“GMB has however advised MPSEZ those ships of 25 years of age which have already been chartered and are proceeding to GMB administered ports will be permitted to enter GMB owned port after they have taken clearance from GMB on case to case basis as an interim measure,” the Mundra’s port operation center official said.
“It is however to be noted that no new chartering of vessel over 25 years old is to be henceforth carried out if the vessels are planning to work cargo at any GMB owned port. Such vessels will be banned from entering GMB administered port.” Ports in Gujarat are key for crude discharge as well as for product loading since many refineries are located there while several in India’s hinterland receive their crude through pipelines from the area.
(sourced Platts)
Wednesday, May 4, 2011
Mundra Port wins bid for Abbot Point X50 coal terminal
Wednesday, 04 May 2011
Mundra Port and Special Economic Zone announced that the State of Queensland in Australia has declared MPSEZ as the successful bidder for long term lease of Abbot Point X50 Coal Terminal following international competitive bidding.
The international bid attracted local and foreign companies and international consortia and the bid passed through three distinct stages of selection lasting over six months. Mundra beat other international players to bag this prestigious acquisition with a bid price of about AUD 1.8 billion which had full financial closure.
The deal was signed in Brisbane, Australia between the company officials and the Queensland government. This achievement also marks the beginning of expansion of business of MPSEZL outside India and is also an acknowledgement of the robust management capability of Mundra Port in developing and operating ports anywhere in the world.
Mr Gautam Adani chairman of Adani Group informed with the acquisition of Abbot Point Coal Terminal, Adani Group controlled Mundra Port has established international credentials an efficient world class port developer and operator. We have harbored aspirations to expand globally and were in search of right business opportunity with strategic fit. Abbot Point is our contribution to India’s increasing global ambition and will boost synergy with other businesses of the group, informed.
Shares of the company gained INR 0.8 or 0.56% to trade at INR 144.60. The total volume of shares traded was 266,085 at the BSE.
The international bid attracted local and foreign companies and international consortia and the bid passed through three distinct stages of selection lasting over six months. Mundra beat other international players to bag this prestigious acquisition with a bid price of about AUD 1.8 billion which had full financial closure.
The deal was signed in Brisbane, Australia between the company officials and the Queensland government. This achievement also marks the beginning of expansion of business of MPSEZL outside India and is also an acknowledgement of the robust management capability of Mundra Port in developing and operating ports anywhere in the world.
Mr Gautam Adani chairman of Adani Group informed with the acquisition of Abbot Point Coal Terminal, Adani Group controlled Mundra Port has established international credentials an efficient world class port developer and operator. We have harbored aspirations to expand globally and were in search of right business opportunity with strategic fit. Abbot Point is our contribution to India’s increasing global ambition and will boost synergy with other businesses of the group, informed.
Shares of the company gained INR 0.8 or 0.56% to trade at INR 144.60. The total volume of shares traded was 266,085 at the BSE.
Wednesday, March 23, 2011
Mundra Port to set up coal terminal at Vizag Port
Tue, Mar 22, 2011 at 21:24
The Adani Group-promoted Mundra Port & Special Economic Zone (MPSEZ) has said it will be developing a coal import terminal on the Visakhapatnam Port, which will be the third such facility by the company.
The proposed terminal, which will be built at a cost of over Rs 300 crore, marks the entry of MPSEZ on the Eastern Coast, the country's largest private multi-port operator said in a release in Ahmedabad today.
The terminal, the Berth East Quay-1, will be designed to handle imported coal volume of around 6.5 million tonne per annum and will be commissioned within two years, it said.
"The contract to set up the berth on the Visakhapatnam Port marks our entry on the East Coast. This is in line with our objective of having pan- India presence" said Adani Group Chairman Gautam Adani said in the release.
The Visakhapatnam Port Trust selected MPSEZ after a competitive bidding and the contract is to develop a coal import terminal.
The Visakhapatnam Port is strategically located and the proposed terminal will feed industries and power plants in Andhra Pradesh, Orissa, Chhattisgarh and eastern Maharashtra.
Mundra is the largest privately-owned and operated port in India, and is among the 10 largest ports in cargo handling volumes. It has handled around 40 million tonne of cargo in 2009-10 and aims to handle 50 MT in the current year.
MPSEZL, developing the country''s largest multi-product SEZ at Mundra, operates ports at Mundra and Dahej (both in Gujarat) and is developing one at Hazira and coal terminals at Mundra and Goa. It is also developing ports in Australia and Indonesia. (Source:PTI)
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