Adani Ports and Special Economic Zone Ltd (APSEZ)

India’s Mundra port berths MSC giant container ship

Mundra Port, the flagship port of Adani Ports and Special Economic Zone (APSEZ), berthed the 399 metres long and 54 metres wide vessel, MSC Hamburg.

The 2015-built container ship was anchored at the Indian port on 2 July 2023.

MSC Hamburg has a carrying capacity of 15,908 TEUs and its current draught is reported to be 12 meters.

Meanwhile, the port of Mundra has resumed all its services after the temporary suspension of operations ordered by the government due to Cyclone Biparjoy.

The post India’s...

https://container-news.com/indias-mundra-port-berths-msc-giant-container-ship/

Adani sells Myanmar Port for US$30 million

Adani Ports and Special Economic Zone Ltd (APSEZ), an integrated transport utility in India and a part of the diversified Adani Group, has completed the Myanmar Port sale for a total consideration of US$30 million.

Earlier, in May 2022, APSEZ announced the signing of a Share Purchase Agreement (SPA) for the sale of its Myanmar Port.

The SPA had certain Condition Precedents (CPs), including completion of the project and relevant approvals for smooth conduct of business by the buyer, whose identity...

https://container-news.com/adani-sells-myanmar-port-for-us30-million/

Adani Ports posts strong financial results

Adani Ports and Special Economic Zone (APSEZ), India’s largest port operator, has released its third-quarter and nine-month results for the period ending 31 December 2022.

APSEZ carried 252.9 million metric tonnes of cargo from April to December 2022, an increase of 8% year on year. The rise in cargo volume was driven by a 23% increase in coal, an 8% increase in liquids (excluding oil), and a 5% growth in container volume. The automobile segment, though a small proportion of overall volumes, saw...

https://container-news.com/adani-ports-posts-strong-financial-results/

APSEZ gets green light for Gangavaram port takeover

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company and part of Adani Group, has received approvals from NCLT Ahmedabad and NCLT Hyderabad for acquiring the remaining 58.1% stake in Gangavaram Port Limited (GPL).

With this stake purchase, GPL will become a 100% subsidiary of APSEZ, whose CEO and director, Karan Adani said, “Acquisition of GPL is a key milestone in consolidating our position as India’s largest transport utility and in achieving East...

https://container-news.com/apsez-gets-green-light-for-gangavaram-port-takeover/

Adani Ports acquires India’s largest marine services firm Ocean Sparkle

Adani Ports and Special Economic Zone Ltd (APSEZ) through its subsidiary, the Adani Harbour Services Ltd (TAHSL), has entered into a definitive agreement for the acquisition of a 100% stake in Ocean Sparkle Ltd, India’s largest third-party marine services provider.

Ocean Sparkle’s key activities include towage, pilotage, and dredging. With an asset base of 94 owned vessels and 13 third-party owned vessels, OSL is valued at an enterprise value of around US$223 million with US$39 million of free...

https://container-news.com/adani-ports-acquires-indias-largest-marine-services-firm-ocean-sparkle/

Adani Ports take over Indian Gangavaram Port

Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired Gangavaram Port (GPL) in India, followed by the purchase of a 10.4% stake in the Government of Andhra Pradesh’s (GoAP) amounting to approximately US$87.4 million.

GPL which was established under the concession from the Government of Andhra Pradesh (GoAP), has an operational capacity of 64 million metric tonnes (MMT) and during the fiscal year 2021 (FY21), it recorded a cargo volume of 32.8 MMT, revenue of US$1.43 billion and Earnings...

https://container-news.com/adani-ports-take-over-indian-gangavaram-port/

Adani Ports keen on building port in Cuddalore

Adani Ports and Special Economic Zone Ltd (APSEZ) has put in an expression of interest (EoI) to develop a port at Cuddalore in Tamil Nadu at the site of the Nagarjuna Oil Refinery that is undergoing liquidation.

The planned six-million tonnes (mt) refinery includes a captive port and a power plant.

“We have put in an expression of interest for developing a port at Nagarjuna oil refinery which is undergoing liquidation. It has a port licence/concession along with the refinery, but they have not...

https://container-news.com/adani-ports-building-port-cuddalore/

NCLT to accept revised offers for Dighi Port

New twist comes after JNPT decides not to accept the modifications to its resolution plan ordered by NCLT

The Mumbai bench of the National Company Law tribunal (NCLT) has allowed Adani Ports and Special Economic Zone Ltd (APSEZ) and Gannon Dunkerley & Co Ltd to submit revised bids for debt-laden Dighi Port Ltd after state-run Jawaharlal Nehru Port Trust (JNPT) said it was not agreeable to the modifications suggested by the insolvency court to its lenders approved resolution plan.

On May 8, NCLT...

https://container-news.com/nclt-to-accept-revised-offers-for-dighi-port/

Adani to develop box terminal in Myanmar

Infrastructure conglomerate Adani Group has received in-principle approval from the Myanmar government to invest $290 million to build and run a container terminal along the Yangon river for 50-years.

This is Adani group’s second overseas venture after the Abbot Point terminal in Queensland, Australia.

Adani Yangon International Terminal Co Ltd (Adani), a unit of Adani Ports and Special Economic Zone Ltd (APSEZ), has been approved by MIC – Myanmar Investment Commission – a single-window approval...

https://container-news.com/adani-develop-box-terminal-myanmar/

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