Ports Current Affairs - 2019
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Between November 7 and November 8, 2019, the Ministry of shipping is hosting the first ever BIMSTEC Ports’ Conclave. The Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation is an international organization that involves South East Asian and South Asian countries. India’s growing interests in the region makes the conclave crucial and significant. Also, the conclave will be a path way for India’s maritime security measures and its interests in the Indo-Pacific region
Highlights of the event
- The investment opportunities and best practices adopted for productivity and safety of the ports are to be discussed in the event.
- The Conclave includes sessions on “Port led Industrial Development and Tourism Development”
- The Conclave will also encourage Cruise Tourism. BIMSTEC nations with diverse historical and cultural heritages are ideal places to develop Cruise Tourism
- The Conclave will also adopt new technological solutions to maximize efficiency and productivity of the available spaces, time and resources in the ports. With the region being one of the fastest growing markets in the world, the supply chain are necessitating expansion beyond national boundaries, resulting in putting tremendous pressure on existing port infrastructure.
- The other discussions in the conclave are as follows
- Emergent roles of ports in the global supply chain
- Safe and Secure ports
- Port Services-Delivering Value
- Green Port Operations
Tags: BIMSTEC • Cruise tourism • Cultural Tourism • Foreign Investment • Indo-Pacific Region
Cabinet Committee on Economic Affairs (CCEA) has approved strategic disinvestment of 100% Government of India’s shares in Dredging Corporation of India Limited (DCIL) to consortium of four ports. Presently, Central Government holds 73.44% shares in DCIL. The consortium of four ports consists of Vishakhapatnam Port Trust (Andhra Pradesh), Paradeep Port Trust (Odisha), Jawahar Lal Nehru Port Trust (Maharashtra) and Kandla Port Trust (Gujarat). The government’s divestment target for fiscal 2018-19 was Rs 80,000 crore and so far it has garnered over Rs 15,000 crore from PSU stake sales.
Strategic sale of DCIL will further facilitate linkage of dredging activities with ports, keeping in view the role of DCIL in expansion of dredging activity in the country as well as potential scope for diversification of ports into third party dredging. The co-sharing of facilities between company as well as ports shall lead to savings for ports. This will also further provide opportunities for larger investment in DCIL as integration with ports shall help ineffective vertical linkage in value chain.
Dredging Corporation of India Limited (DCIL)
It is miniratna public sector unit (PSU) engaged in the business of dredging. It does dredging for Indian seaports exclusively. It is involved in capital dredging, beach nourishment, and land reclamation. It was established in March 1976 and is headquartered in Visakhapatnam, Andhra Pradesh. It reports to the Ministry of Shipping. Almost all maintenance dredging in Indian seaports is carried out by DCI. It also occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai.