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Nov 29

Major Indian ports witness volume growth; liquid cargo & iron ore play key roles

Iron ore and liquid cargo shipments led traffic growth at major ports in April-September period of this financial year. During the period under review, iron ore cargo including iron ore pellets surged by 23.48 per cent. The ports at Kandla, Paradip, New Mormugao and New Mangalore were the major gainers from the spike in iron ore shipments. Iron ore traffic was boosted by revival in exports and also more movement of ore to the hinterland on robust demand.   After iron ore, liquid cargo....
Nov 22

Govt reduced GST on bunker fuels; what it means for Indian Ports

GST rate on bunker fuel will be reduced to 5 per cent for both foreign going vessels and coastal vessels. India has reduced the goods and service tax (GST) on marine fuel oil, known as bunker fuel, to 5 percent for all vessels, the government said on Wednesday, which should help the country’s fuel sellers compete with other lower-tax ports in Asia.   India’s nationwide GST taxed bunker fuel sales at 18 percent when it was implemented on July 1. The GST replaced state value-added taxes that were....
Nov 15

Indian Ports witness active growth in the current FY

Cargo transport is expected to fuel the next stage of growth at Indian ports. The pace at which cargo transport is increasing, along with the government’s initiatives to improve the condition of Indian Ports, substantial growth of cargo transport is expected in the coming financial year as well.   As stated in a report by LIVE Mint, active growth of 3.24% was registered at Indian Ports during April-September period.   According to the data released by Ministry of Shipping, the overall traffic....