SLPA signs US$700 million deal for new container terminal in Colombo

The Sri Lanka Ports Authority (SLPA) and Adani Ports and Special Economic Zone Limited (APSEZ) have signed a 35-year agreement to jointly develop the Colombo West International Container Terminal (CWICT) of the Port of Colombo (POC).

The Build-Operate-Transfer (BOT) agreement is worth more than US$700 million and constitutes the largest foreign investment ever in the port sector of Sri Lanka, with its premier diversified company, John Keells Holdings PLC, being a major foreign investor.

Sri Lanka...

Nearly 3 tonnes of heroin found in two containers at Mundra port

The Directorate of Revenue Intelligence (DRI), an Indian intelligence agency, has confiscated two containers carrying approximately 3,000 kilos of heroin at Mundra port in Gujarat, India.

In one of the largest seizures of all time in the world, two persons have been arrested, while the role of some Afghan nationals remains under investigation, according to the national media.

The first box included 1,99.58 kg of heroin and the second one carried 988.64 kg of the stuff, with the exact total amount...

Adani Ports reports highest volume growth ever during FY first quarter

Adani Ports and Special Economic Zone Limited (APSEZ), the largest transport utility in India and a part of the diversified Adani Group, has announced its operational and financial results for the first quarter (Q1) of the Fiscal Year (FY) 2022 which started on 1 April and ended on 30 June.

Adani Ports has achieved the highest ever quarterly volume growth of 83%, while all India cargo growth saw a 33% volume increase.

Additionally, Adani Ports’ Earnings Before Interest, Tax, Depreciation, and...

Adani Ports signs up to new emissions reduction project

Adani Ports and Special Economic Zone Limited (APSEZ) has signed up for the Science Based Targets initiative (SBTi), a collaboration between CDP, a non-profit charity, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

Through SBTi, companies are responding by committing to set science-based emissions reduction targets — across their entire value chain — that are consistent with keeping global warming to 1.5°C above pre-industrial levels....

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.