India has approved a port expansion project in Goa, which will
increase the capacity for handling dry bulk industrial
|The expansion project in Goa will take
up to 36 months. (Source: Yorick_R via
The project will redevelop berths 8, 9 and the barge berth
at the port of Mormugao and will cost Indian rupee (INR)
"The project envisages the reconstruction of the old berths
and replacement of 38 year old equipment by creating facilities
for handling a variety of cargo like iron ore, bauxite, gypsum,
limestone, fertilisers, steel coils and other general cargo,"
the ministry of shipping said.
The new berths will increase dry bulk handling capacity by
6.22m tpa, up to 19.22m tpa. Ships of up to 185,000
deadweight tonnes (DWT) will be able to use the port.
Other developments will enable the movement of minerals
through barges using inland waterways of the rivers Mandovi and
Zuari, reducing the need for road transport.
Conveyor belts and storage areas will also be properly
covered. Construction activity includes the building of berths,
buildings, railway lines, dredging, reclamation of land and
installation of equipment.
The development will also consume a number of industrial
minerals used for manufacturing steel, cement, and building
In April, the government lobbied India resource company
Vendanta to expand the use of the Port of Mormugao.
The company, via wholly owned subsidary Sterlite Ports Ltd,
was awarded the expansion project for Berth 8 and 9 and Barge
Berths at the port at Goa after a successful bidding process.
The expansion project is expected to take 36 months.
In shipping, the Baltic Dry Index (BDI) was slightly firmer
again this week at 711 on 31 August compared with 706 on 24
Shipbrokers were optimistic due to the return of Chinese
iron ore importers in the market, and restocking after drawing
down on inventories.
"Continued increases in China’s daily steel
output, feeding the excessive production in steel products,
along with the recent restocking by Chinese steel mills that
has started to take shape over the past couple of weeks has
allowed for a positive trend to develop on the demand side,"
shipbroker Allied said.