Latest news with #DeendayalPort
New York Times
6 days ago
- Business
- New York Times
Trump Administration Live Updates: President Rules Out Bessent as Powell's Replacement at Fed
The Russian vessel Vladimir Vinogradov unloads crude at the Deendayal Port in the western state of Gujarat, India, last year. For months, Indian and American trade officials haggled over things like tariffs and import quotas, trying to work out an agreement both sides could live with. President Trump, intent on closing a $44 billion trade deficit with India, threatened to impose tariffs on Indian goods sent to America. Then, Mr. Trump brought Russia into it. On July 30, Mr. Trump said that Indian goods would be subject to a 25 percent tariff, a higher rate than its Asian competitors. He berated the country for its purchases of Russian energy, posting on social media that India was 'Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE.' For that, Mr. Trump added, India would pay an unspecified penalty on top of the 25 percent levy. A day after saying he would 'substantially' increase the 25 percent levy, the president said on CNBC on Tuesday that he would impose higher tariffs on India in the next 24 hours. Plenty of other people and organizations had made similar arguments about how India was abetting Russia in its war on Ukraine by purchasing Russian oil. But now Mr. Trump had made it part of the U.S.-Indian trade talks. Along with dozens of other countries, India is facing the prospect of U.S. tariffs starting on Thursday. Mr. Trump's demand, which India calls outrageous and unwarranted, has dropped like a stink bomb in the two countries' trade talks. Here's what you need to know about the dispute. Isn't Russia under sanctions? Moscow is under sanctions, primarily by the United States and the European Union. In an attempt to hurt Russia's war effort, the West imposed a cap on the price Russia could charge for its oil. But India did not sign on to that plan. After the sanctions were imposed and European and other markets shut their doors to Russia, seaborne exports to India from Russia started scaling up. On Tuesday, Russia pushed back against Mr. Trump's threats against India. Russia believes it is 'illegal' to try to 'get other countries to cut trade ties with Russia,' Dmitri S. Peskov, a Kremlin spokesman, told Russian news agencies. China is another major buyer of Russian oil that did not join the sanctions effort. The country maintains particularly friendly relations with Russia, and trade between China and Russia is up two-thirds since Russia invaded Ukraine. Last year, their two-way trade exceeded $240 billion, with China sending everything from cars to drones. Other than China, no country is buying more Russian oil these days than India. It shows no sign of stopping, either. On Tuesday, Lloyd's List, the shipping industry's main trade journal, reported that three oil tankers made delivery at Indian ports over the weekend — after Mr. Trump had threatened to impose a penalty. How much Russian oil does India buy? Much more than it did before the Russian president, Vladimir V. Putin, launched a full-scale invasion of Ukraine in February 2022. Shortly before the start of the war, crude oil from Russia accounted for 0.2 percent of how much India imports. By May 2023, Russia was selling India more than two million barrels of crude a day, or roughly 45 percent of its imports. India has bought a nearly constant flow of Russian oil for the past two years. Prices fluctuated, with total sales worth more than $130 billion per year. Iraq and Saudi Arabia, traditionally India's biggest suppliers, have been pushed to the side. In June 2023, an analysis of shipping data by The New York Times found that dozens of Russian tankers were arriving every month to Indian oil refineries. Why is India buying so much oil from Russia? Well, it's cheaper since sanctions have narrowed potential demand and held down the price. Another reason: India is not a major producer of oil, and it is the world's most populous nation and fastest-growing big economy. It needs a lot of oil. India's purchases of Russian oil have suited both sides. Russia is able to sell its crude oil, theoretically under a price cap the European Union had set at $60 a barrel, and India buys it at a discount. India's oil companies have refined some for domestic consumption and exported the rest to Europe and elsewhere as diesel and other products. In addition to helping power India's economy, cheap Russian oil has helped India establish a lucrative business exporting refined products to regions that need fresh energy supplies. One of India's refineries, the Jamnagar site on the country's west coast, is the largest in the world. The surge in imported Russian oil has helped to push up profits for companies like the Indian conglomerate Reliance Group, which runs the Jamnagar refinery. Reliance's stock price grew 34 percent since the war began, a period in which Exxon Mobil's has been flat. In recent weeks, refineries in India have been buying less Russian oil than usual, according to Kpler, which tracks commodities and shipping data. But to completely replace the Russian fuel it has been importing would be difficult for India, in part because its refineries are configured for the type of oil Russia produces. 'The pivot away from Russia — if forced — will be costly, complex and politically fraught,' Kpler wrote in a note. Nataliya Vasilyeva contributed reporting.
Times of Oman
07-07-2025
- General
- Times of Oman
India: Tanker vessel reports explosion off Kandla coast, all 21 crew evacuated safely
Kandla (Gujarat): A tanker vessel bound for Oman reported an explosion shortly after completing a methanol discharge at the Deendayal Port in Kandla, Gujarat, prompting a swift response from the port and Coast Guard authorities, a port official said on Sunday. However, no fire or smoke was reported in the incident, the official said. Speaking to ANI, the Public relations officer (PRO) for the Deendayal Port Authority, Om Prakash Dadlani, said that a total of 21 crew members were onboard the tanker vessel, who were later safely evacuated by the rescue team. "A tanker vessel named MV Fulda departed for Oman post methanol discharge at Oil Jetty No. 2. We received input about an explosion; however, no fire or smoke was reported. Twenty-one crew members were onboard the tanker vessel. The Maritime Response Coordination Committee informed the Coast Guard about the incident. Teams of the Coast Guard and Deendayal Port Authority reached the incident site. Our rescue team has safely evacuated all crew members," Dadlani said. Earlier on July 1, demonstrating rapid operational readiness and its unwavering commitment to seafarer safety, the Indian Navy undertook a high-risk firefighting and rescue operation on board Palau-flagged tanker MT Yi Cheng 6 on 29 June 2025 in the North Arabian Sea, successfully stabilising the situation and ensuring the safety of 14 Indian crew members. According to a release, in the early hours of 29 June, INS Tabar, on a mission-based deployment, received a Mayday distress call from MT Yi Cheng 6. The vessel reported a major fire outbreak in its engine room whilst operating approximately 80 nautical miles east of Fujairah, UAE. Responding swiftly, INS Tabar proceeded at maximum speed to assist. The ship reached the vicinity of the distressed vessel and, upon arrival, established communication with the Master of the vessel and commenced firefighting operations. Prioritising crew safety, seven crew members were immediately evacuated to INS Tabar using the ship's boats. No injuries were reported, and all crew were examined by Tabar's medical team. The remaining crew members, including the Master, stayed onboard to assist with fire containment. INS Tabar deployed a six-member firefighting and damage control team with firefighting equipment. Initial firefighting efforts from the Indian Naval personnel and the ship's crew resulted in a considerable reduction in the intensity of the fire, with smoke restricted to the engine room. The firefighting effort was further reinforced with 13 additional Indian Navy personnel (5 officers and 8 sailors). Sustained efforts by the Indian Navy's firefighting team, along with crew members, have successfully brought the fire under control. Continuous temperature checks and monitoring is being undertaken. INS Tabar remains on station for continued support. The valiant effort of Indian Naval personnel has ensured the safety of the ship along with all Indian crew members. This incident once again highlights the Indian Navy's rapid response capability, operational preparedness, humanitarian approach to maritime safety and reaffirms India's role as the first responder in the Indian Ocean Region. Earlier in June, a Singapore-flagged cargo ship MV Wan Hai 503 caught fire after an explosion while en route from Colombo to Nhava Sheva, near Mumbai, off the coast of Kerala, India.
Time of India
13-05-2025
- Business
- Time of India
Cargo handling at major Indian ports rises 4.3% to 855 million tonnes in FY25
NEW DELHI: India's major ports saw a 4.3 per cent increase in cargo handling, reaching 855 million tonnes in Fiscal Year 2024-25. The growth was led by higher volumes in container traffic (up 10%), fertilisers (13%), petroleum, oil and lubricants (POL) (3%), and miscellaneous commodities (31%), as compared to the previous fiscal year. Tired of too many ads? go ad free now The Government of India operates 12 major ports under the Major Port Authorities Act, 2021. These ports include Deendayal Port, Mumbai Port, Jawaharlal Nehru Port, Mormugao Port, New Mangalore Port, Cochin Port, VO Chidambaranar Port, Chennai Port, Kamarajar Port, Visakhapatnam Port, Paradip Port and Syama Prasad Mookerjee Port. In FY 2024-25, the primary commodities handled were Petroleum, Oil, and Lubricants (POL) at 254.5 million tonnes (29.8 per cent), container traffic at 193.5 million tonnes (22.6 per cent), coal at 186.6 million tonnes (21.8 per cent), alongside other cargo types including iron ore, pellets, and fertilisers. Paradip Port Authority (PPA) and Deendayal Port Authority (DPA) achieved a significant milestone by exceeding 150 Million Tonne (MT) cargo handling. Additionally, Jawaharlal Nehru Port Authority (JNPA) achieved a record 7.3 million TEUs, showing 13.5 per cent annual growth. The ports allocated 962 acres for industrial development in FY 2024-25, with projected earnings of Rs 7,565 crore. Lessees are anticipated to invest Rs 68,780 crore on the allocated land. Private sector involvement has significantly increased, with PPP project investments at major ports rising from Rs 1,329 crore in FY 2022-23 to Rs 3,986 crore in FY 2024-25, demonstrating robust investor interest.
&w=3840&q=100)
Business Standard
13-05-2025
- Business
- Business Standard
Major ports' cargo rises 4.3% in FY25; Paradip, Deendayal cross 150 MT
India's major ports registered a 4.3 per cent rise in cargo handling to 855 million tonnes in 2024-25, an official statement said on Tuesday. The increase in traffic was driven by higher container throughput (10 per cent), fertiliser cargo handling (13 per cent), POL cargo handling (3 per cent), and handling of miscellaneous commodities (31 per cent) compared to the previous fiscal year, according to the statement. There are 12 major ports, wholly owned by the Government of India and governed by the provisions of the Major Port Authorities Act, 2021. These are Deendayal Port, Mumbai Port, Jawaharlal Nehru Port, Mormugao Port, New Mangalore Port, Cochin Port, VO Chidambaranar Port, Chennai Port, Kamarajar Port, Visakhapatnam Port, Paradip Port and Syama Prasad Mookerjee Port. Among commodities handled at major ports, Petroleum, Oil, and Lubricants (POL)-including crude, petroleum products, and LPG/LNG-led the charts with a volume of 254.5 million tonnes (29.8 per cent), followed by container traffic at 193.5 million tonnes (22.6 per cent), coal at 186.6 million tonnes (21.8 per cent), and other cargo categories such as iron ore, pellets, fertilizers, and more in FY 2024-25. For the first time in the history of major ports, Paradip Port Authority (PPA) and Deendayal Port Authority (DPA) surpassed the 150 Million Tonne (MT) cargo handling mark, reinforcing their status as key hubs of maritime trade and operational excellence, the statement said. Meanwhile, Jawaharlal Nehru Port Authority (JNPA) set a record by handling 7.3 million TEUs (Twenty-foot Equivalent Units), reflecting a 13.5 per cent year-on-year growth, it added. In FY 2024-25, Indian ports collectively allocated 962 acres of land for port-led industrialisation, projected to generate an income of Rs 7,565 crore in FY 2024-25, the statement said. Furthermore, lessees are expected to make an investment of Rs 68,780 crore on the allotted land, reaffirming investor confidence in port-led development, it added. The statement said private sector participation has been instrumental in this transformation, with investments in PPP projects at major ports increasing three-fold, from Rs 1,329 crore in FY 2022-23 to Rs 3,986 crore in FY 2024-25, highlighting strong investor confidence. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
13-05-2025
- Business
- Time of India
Major ports' cargo handling rises 4.3% to 855 MT in FY25; Paradip, Deendayal cross 150 MT
India's major ports registered a 4.3 per cent rise in cargo handling to 855 million tonnes in 2024-25, an official statement said on Tuesday. The increase in traffic was driven by higher container throughput (10 per cent), fertiliser cargo handling (13 per cent), POL cargo handling (3 per cent), and handling of miscellaneous commodities (31 per cent) compared to the previous fiscal year, according to the statement. There are 12 major ports, wholly owned by the Government of India and governed by the provisions of the Major Port Authorities Act, 2021. These are Deendayal Port, Mumbai Port, Jawaharlal Nehru Port, Mormugao Port, New Mangalore Port, Cochin Port, VO Chidambaranar Port, Chennai Port, Kamarajar Port, Visakhapatnam Port, Paradip Port and Syama Prasad Mookerjee Port. Among commodities handled at major ports, Petroleum, Oil, and Lubricants (POL)-including crude, petroleum products, and LPG/LNG-led the charts with a volume of 254.5 million tonnes (29.8 per cent), followed by container traffic at 193.5 million tonnes (22.6 per cent), coal at 186.6 million tonnes (21.8 per cent), and other cargo categories such as iron ore, pellets, fertilizers, and more in FY 2024-25. For the first time in the history of major ports, Paradip Port Authority (PPA) and Deendayal Port Authority (DPA) surpassed the 150 Million Tonne (MT) cargo handling mark, reinforcing their status as key hubs of maritime trade and operational excellence, the statement said. Live Events Meanwhile, Jawaharlal Nehru Port Authority (JNPA) set a record by handling 7.3 million TEUs (Twenty-foot Equivalent Units), reflecting a 13.5 per cent year-on-year growth, it added. In FY 2024-25, Indian ports collectively allocated 962 acres of land for port-led industrialisation, projected to generate an income of Rs 7,565 crore in FY 2024-25, the statement said. Furthermore, lessees are expected to make an investment of Rs 68,780 crore on the allotted land, reaffirming investor confidence in port-led development, it added. The statement said private sector participation has been instrumental in this transformation, with investments in PPP projects at major ports increasing three-fold, from Rs 1,329 crore in FY 2022-23 to Rs 3,986 crore in FY 2024-25, highlighting strong investor confidence.
