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SECTOR | 28 Aug 2024

Shipping ministry accepts revised wage structure for workers of major ports

Business Standard

The Ministry of Ports, Shipping and Waterways has approved wage structure revision for workers at major ports, an official statement said on Wednesday. According to the statement, a memorandum of understanding (MoU) was signed between the Bipartite Wage Negotiation Committee (BWNC) and the Indian Port Association (IPA), averting an indefinite strike that was set to disrupt operations across 12 major ports in India. The MoU facilitates the revision of the wage structure and addresses other service conditions, including pensionary benefits, it added. It was also agreed that the fitment benefit of 8.5 per cent on the aggregate amount of basic pay as of December 31, 2021, plus 30 per cent VDA (variable dearness allowance) as of January 1, 2022, will be granted. "The periodicity of the settlement is set for five years, from January 1, 2022, to December 31, 2026. "The new pay scales, effective from January 1, 2022, will be formulated according to existing practices," the statement...

Infrastructure

SECTOR | 26 Aug 2024

Strike at major ports could lead to loss of 125 crore daily

Business Line

Five unions at Major Ports have called for a nation-wide strike from August 28 mainly against delay in concluding bipartite wage negotiations and settlement

Infrastructure

SECTOR | 23 Aug 2024

Mumbai Port Launches Projects And Investment Proposals Worth Rs 4,000 Crore

NDTV Profit

The Memorandums of Understanding in this regard were signed in the presence of Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal during his visit to the port.

JN Port to scale up handling capacity to over 10 mn TEUs by April

Business Standard | 22 Aug 2024

Infrastructure

SECTOR | 23 Aug 2024

Adani Group Stocks Today Live Updates: Ambuja Cements shares rise amid reports of Adani Group selling 2.84% stake

Business Line

Adani Group Stocks / Adani Group Share Price Today Live Updates for August 23, 2024: Ambuja Cements' share price rose in early trade on Friday. The majority of Adani Group stocks, including Adani Enterprises, Adani Ports & SEZ, and Adani Wilmar, traded flat.

Infrastructure

SECTOR | 12 Aug 2024

Markets, Adani stocks in the red as Hindenburg asks Buch to disclose more

Business Line

Adani Enterprises, Adani Ports, Adani Power, and other Adani group shares lose 5-6per cent in the morning session

Adani Group Stocks/ Share Price Live Updates Today: Adani Group stocks slump on latest Hindenburg report

Business Line | 12 Aug 2024

Infrastructure

SECTOR | 08 Aug 2024

Adani Ports Names Two New Independent Directors

NDTV Profit

The board appointed Dr. Ravindra Dholakia and PK Pujari as non-executive and independent additional directors.

Infrastructure

SECTOR | 05 Aug 2024

Major Indian Ports See 5.92% Growth in Cargo Traffic

NDTV Profit

The data also showed that 10 of these major ports logged positive growth in cargo traffic handling, while the remaining two saw a negative growth.

Cargo traffic at major ports grows 5.92% to 70.08 mn tonnes in Jul: IPA

Business Standard | 05 Aug 2024

Infrastructure

SECTOR | 05 Aug 2024

Ports Secretary Unveils New Shipbuilding Scheme; Forms JV To Own Large Tankers

NDTV Profit

The ministry also said it will provide 30% financial assistance for vessels where main propulsion is achieved by means of green fuels such as methanol/ ammonia / hydrogen fuel cells

Infrastructure

SECTOR | 05 Aug 2024

New shipbuilding scheme to incentivise Indian shipyards till 2035

Business Standard

Ministry of Ports, Shipping and Waterways (MoPSW) is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures, a senior government official has said. Ports, Shipping and Waterways Secretary T K Ramachandran further said with the new policy, India will endeavour to be among the top 10 shipbuilding nations by 2030 and the top five by 2047, from 22nd in the world at present. "Yes, this ministry is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures," he told PTI. Ramachandran also said global cruise major MSC Cruises, based out of Geneva, has expressed willingness to deploy their ships for domestic itinerary. He said MoPSW in coordination with Ministry of Petroleum and Natural Gas is planning to have a JV between Shipping Corporation of India (SCI) and oil marketing companies to own large tankers. "The model of ownership is still to be decided depending upon demand requirement

Infrastructure

SECTOR | 04 Aug 2024

Govt finalising Great Nicobar transhipment port's DPR, NGT scrutiny earlier

Business Standard

The detailed project report (DPR) of a Rs 41,000-crore international transhipment port project at Great Nicobar Island in the Bay of Bengal is being finalised by the government, and it will go ahead with the implementation of the project in the next few months, a senior official said on Sunday. Great Nicobar Transhipment port project has been under scrutiny over environmental concerns. "The project has received the environmental clearances and nod from National Green Tribunal (NGT) and now there is no hurdle in its implementation. "The DPR of the project is also finalised and we are going ahead for its further implementation in the next few months," Ports, Shipping and Waterways secretary T K Ramachandran told PTI in an interview. Last year, the Ministry of Ports, Shipping and Waterways in a statement had said the project is expected to be completed with an investment of Rs 41,000 crore (USD 5 billion), including investments from both government and public-private partnership (PPP)