News Bulletin: February 2025
1. India’s Mega Ports Set for 2029: Boosting Global Trade
India will develop two mega ports Vadhavan in Maharashtra and the International Container Transhipment Port (ICTP) at Great Nicobar set to begin operations by 2029. Vadhavan, a ₹76,000 crore deep water port, aims to reduce shipping costs and transit times. ICTP, India’s first transshipment mega port, will cost ₹44,000 crore and handle up to 16 million TEUs. The first phase of both projects is on track, with Vadhavan’s shore protection work underway and ICTP securing environmental clearance. These ports will significantly boost India’s maritime trade and global connectivity.
Source: ET Infra
2. Kerala Invests ₹12,159 Crore in Vizhinjam Port Development
The Kerala government has invested ₹12,159 crore in the Vizhinjam port project, as reported by Ports Minister V.N. Vasavan. Despite the central government’s refusal to provide its share of the Viability Gap Fund (VGF), the state is arranging its portion through loans from NABARD. To date, 163 ships have docked at Vizhinjam port, handling 300,000 TEUs of cargo. The first phase is complete, with the remaining three scheduled for completion by 2028. The port has managed 1 million containers so far, with expectations to triple this number by 2028. Additionally, the central government has approved the Detailed Project Report (DPR) by Konkan Railway Corporation for rail connectivity to the port.
Source: Maritime Gateway
3. Adani Ports Achieves Record Monthly Cargo of 39.9 MMT in January
In January 2025, Adani Ports and Special Economic Zone Ltd (APSEZ) reported handling a record monthly cargo volume of 39.9 million metric tonnes (MMT), marking a 13% year-on-year increase. This growth was driven by a 32% rise in container shipments and an 18% uptick in liquid and gas cargoes. Year-to-date, APSEZ has managed 372.2 MMT of total cargo, reflecting a 20% increase from the previous year. Mundra Port, a key facility within APSEZ, achieved a historic monthly cargo volume of 17.2 MMT and set a national record by handling 772,000 twenty-foot equivalent units (TEUs) in container throughput.
Source: India Shipping News
4. Vizhinjam Port to Implement Dynamic Mooring System
Vizhinjam Port plans to install a dynamic mooring system to stabilize docked vessels and enhance loading and unloading efficiency. This initiative responds to recommendations from shipping companies, including the Mediterranean Shipping Company (MSC), which emphasized the need for a shore tension system to mitigate vessel surge and sway. The proposed system will maintain continuous tension on mooring cables, preventing excessive movement and potential line breakage. An Adani Ports official confirmed that the installation is forthcoming. Since July 2024, Vizhinjam Port has handled 150 ships and 300,000 containers, with January 2025 alone accounting for 45 ships and 85,000 containers.
Source: The Shipping Tribune
5. New FASTag Rules from February 17, 2025: Key Updates for Highway Users
From February 17, 2025, NPCI will enforce new FASTag rules to improve toll efficiency and prevent fraud. If a FASTag has a low balance for over 60 minutes before reaching a toll plaza and remains inactive for 10 minutes after scanning, the transaction will be declined, and users may face double toll charges. Vehicles must have a single FASTag, and those issued on chassis numbers must update their registration within 90 days. Non-compliance, like not affixing FASTag properly, may lead to blacklisting. Users should maintain balance and update KYC details to avoid disruptions and penalties.
Source: ET Infra
6. Blog: Long Term Supply Agreements – An Overview
Longterm supply agreements (LTSA) are Buyer and Seller agreements for supply of goods or service or both. Unlike purchase orders (project contracts) which are not project specific, LTSAs are also for longer durations as the objectives of an LTSA need time to start yielding results. LTSA s are common in several industries mainly for supplies of goods/components, e.g. automobile sector. The auto makers outsource a large number of components. These LTSAs are non-exclusive as buyers need large quantities and flexibility. As a result, they often enter LTSAs with multiple suppliers.
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