Shipping Business

"Post this acquisition, Allcargo now owns a total of five cargo vessels making it one of the largest players in the logistics industry," the company said in a statement without disclosing the financial consideration for acquisition.

Mercator expects interest cost easing to aid nos this year

In terms of business, Patwardhan says the company‘s coal volumes were flat in FY13. However, he expects FY14 volumes to be 'substantially better' than FY13.

Gati up 5% on talks with potential partners for ship biz

Logistics major Gati rallied as much as 7 percent intraday on Tuesday as CNBC-TV18 reported that the company is in talks with potential partners for shipping business.

Int costs to fall 50%; see FY13 sales at Rs 1500cr: Gati

Post its joint venture with Japanese company Kintetsu World Express, Gati interest costs to be halved and sees total topline come in at Rs 1,500 crore in FY13.

Gati may sell stake to German company; stock up 5%

Today the share of logistic major Gati was locked at upper circuit of 5% after The Economic Times reports that the company may sell its stake in shipping business to German Company Bernhard Schulte.

Long-term ship charters to add $400m rev/yr: Essar Shipping

Essar Shipping is all set to list on the exchanges tomorrow. AR Ramakrishnan, chief executive officer of Essar Shipping indicated that if the company adds a crude oil transportation business going forward, it would look at anything between USD 25-30 million, which is firm contracted. Therefore, it would generate very stable revenues over years.

GE Shipping cuts shipping exposure; to focus on offshore

Great Eastern Shipping Co is planning to redeploy cash from its shipping business, where it is cutting exposure by selling three large vessels, and focus on offshore segments, a senior official said.

Chambal Fert appoints consultants for shipping business

Chambal Fertilisers & Chemicals late on Monday said the restructuring committee of its board has appointed independent consultants to explore various options for restructuring its shipping business.

Chambal Fertiliser board meet today, stock down 2%

Chambal Fertilisers and Chemicals has board meet today to consider restructuring of shipping business, reports CNBC-TV18. It touched an intraday high of Rs 70.30 and an intraday low of Rs 69.40. At 09:33 hrs the share was quoting at Rs 70.00, down Rs 1.55, or 2.17%.

Gati plans to sell up to 49% in shipping biz

Logistics player Gati is planning to sell between 26% and 49% stake in its shipping business to a global shipping company to raise funds and expand the business, Managing Director Mahendra Agarwal told Reuters on Tuesday.

Gati in talks with foreign co for strategic pact

Logistics firm Gati Ltd is in talks with an international player to form a strategic partnership in its shipping business, Managing Director Mahendra Agarwal said.