LOGISTICS
AIRLINES
Clarification on payment for acquiring foreign aircraft sought
THE Ministry of Civil Aviation is to seek clarification from the Ministry of Finance on the issue of payments made by Indian companies to acquire aircraft or aircraft engine on lease from foreign states or foreign enterprise. The Minister for ...
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Govt likely to reduce age of aircraft for import
IF, in the near future, you get to travel in much younger and newer aircraft in India, thank the Government as it is said to be considering a proposal to reduce the age for import of aircraft from the present 15 years. Sources indicated that ...
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Govt may allow more international routes to IA
THE Government is considering a proposal to allow Indian Airlines (IA) to operate on more international routes. Official sources said the move is aimed at bringing about greater synergy between Air India (AI) and IA. "On most international ...
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SHIPPING
Advantage Tuticorin
The biggest beneficiary of the Sethusamudram project, conceived more than a century ago, will be Tuticorin port. Raja Simhan T.E. explores.
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Going places
With heritage and places of tourist attraction in its hinterland, Tuticorin port can be a catalyst for the tourism industry, says Raja Simhan T.E.
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At a glance
THE Tuticorin port handled an all-time record traffic of 136.78 lakh tonnes during 2003-04, exceeding the previous year's traffic of 132.94 lakh tonnes — an increase of 2.89 per cent. Of the total traffic, ...
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The hub?
TUTICORIN could be developed as a hub port in South Asia given its close proximity to the international shipping lane. The Tuticorin Hub Port Development Council is pushing this demand with the Centre and the State ...
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Govt sets stiff rules for tonnage tax regime
THE Government has set stiff rules for shipping companies to opt for the tonnage tax regime and those found to be abusing the preferential tax scheme will face expulsion. A company owning at least one qualifying ship with a minimum tonnage of ...
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Sethusamudram SPV to have Rs 1,000-cr capital
THE special purpose vehicle (SPV) to implement the Sethusamudram ship canal project will have an appraised capital of Rs 1,000 crore. Profit-making port trusts on the East Coast, including Chennai, Tuticorin, Paradip, Visakhapatnam and Ennore ...
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Dredging cos upset over exclusion from tonnage tax
THE Budget announcement on the introduction of a tonnage-based tax scheme for the shipping industry along with the withdrawal of the tax benefits accorded under Section 33 AC of the Income-Tax act spells bad news for the domestic dredging firms ...
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Vallarpadam terminal proposal welcomed
INDUSTRIAL and business chambers have hailed the Finance Minister, Mr P. Chidambaram, for his commitment to setting up the Vallarpadam Container Transhipment Terminal in Kochi, announced in the Union Budget. The Kochi Port Chairman, Dr Jacob ...
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STOCKS
Shipping stocks steer ahead
WHILE stocks of most sectors plotted an uncertain movement on the bourses in the week preceding the Union Budget, stocks of shipping companies reflected a confidence that was evident in their steady upward climb. The reason: the market was ...
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INTERVIEW
`Grow with us'
"Grow with us" is the simple message to trade from the Tuticorin Port Trust (TPT). From 2.41 million tonnes in 1979-80, the port handled an all-time record traffic of 13.68 million tonnes in 2003-04, ...
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Ports
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