Logistics (MENA) 
MENA+ Edition 
Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Climate (MENA) 
Share
Read Full Issue 
India aims to boost its port capacity to 10k metric tons a year by 2047, up from the current 2.6k, Indian daily Business Standard quotes Ports Minister Sarbananda Sonowal as saying. “In alignment with this vision, the role of private players is being progressively augmented, with public-private partnership (PPP) terminals currently handling about 50% of the cargo at major ports and efforts underway to raise their share to approximately 85% in the coming decades,” Sonowal reportedly said. The government also aims to improve cargo movement on India's waterways, which saw a 16% y-o-y increase last fiscal year, he added. India is also looking to develop “hydrogen hubs” run by central and state ports, according to the minister.
Hapag-Lyod eyes stake in HMM takeover: Germany-based shipping giant Hapag-Lloyd is considering acquiring a majority stake in South Korean shipping company HMM, Hellenic Shipping News reports. Hapag Lloyd received an Information Memorandum (IM) from Samsung Securities — HMM’s lead manager for the sale — to take part in the acquisition bid, the newswire reports, citing an industry source. The company has appointed Goldman Sachs as its advisor on the potential acquisition, and has not yet disclosed a potential acquisition price, though other bidders — including existing stakeholder SM Group — have suggested they could pay USD 3.5 bn for the 57.87% stake up for grabs by state-controlled Korea Development Bank (KDB) and Korea Ocean Business Corp (KOBC). Three other Korean companies have set their sights on HMM, including Harim Group, LX holdings and Dongwon group, Splash reports.
ALSO WORTH KNOWING-
- The Shanghai International Energy Exchange ( INE ) has launched a CNY-denominated containerized freight index futures, reflecting freight rates for containers shipped from Shanghai to European ports, offering global traders and businesses a risk management tool to hedge against container freight price fluctuations. (Global Times)
- Maersk is planning to add 500 new electric vehicles across 26 cities in India, adding 500 novel electric vehicles across 26 cities for first-, middle- and last-mile deployment. (Statement)
- China has started t rial operations on its second largest canal, the Yangtze-Huaihe Grand, which is over 723 km long and connects the Yangtze and Huaihe rivers. (China Daily)
- A Ukrainian drone has crashed into a railway station in Kursk, Russia, causing a fire on the station’s rooftop and injuring five people. (TASS)
