{"id":72941,"date":"2023-08-22T00:00:00","date_gmt":"2023-08-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/22\/indian-government-aims-to-nearly-quadruple-port-capacity-by-2047-hapag-lloyd-is-in-the-running-for-hmm-stake-plus-more-from-maersk-ine-and-china\/"},"modified":"2023-08-22T00:00:00","modified_gmt":"2023-08-22T00:00:00","slug":"indian-government-aims-to-nearly-quadruple-port-capacity-by-2047-hapag-lloyd-is-in-the-running-for-hmm-stake-plus-more-from-maersk-ine-and-china","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/22\/indian-government-aims-to-nearly-quadruple-port-capacity-by-2047-hapag-lloyd-is-in-the-running-for-hmm-stake-plus-more-from-maersk-ine-and-china\/","title":{"rendered":"Indian government aims to nearly quadruple port capacity by 2047 + Hapag-Lloyd is in the running for HMM stake. PLUS: More from Maersk, INE and China"},"content":{"rendered":"

India aims to boost its port capacity to 10k metric tons a year by 2047<\/strong>, up from the current 2.6k, Indian daily Business Standard<\/a> quotes Ports Minister Sarbananda Sonowal as saying. \u201cIn 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,\u201d 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 \u201chydrogen hubs\u201d run by central and state ports, according to the minister. <\/p>\n

Hapag-Lyod eyes stake in HMM takeover: <\/strong>Germany-based shipping giant Hapag-Lloyd<\/a> is considering acquiring a majority stake in South Korean shipping company HMM<\/a>, Hellenic Shipping News<\/a> reports. Hapag Lloyd received an Information Memorandum (IM) from Samsung Securities \u2014 HMM\u2019s lead manager for the sale \u2014 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 \u2014 including existing stakeholder SM Group \u2014 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<\/a> reports.<\/p>\n

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