Sunday, June 15, 2014

Goa mining crisis should be resolved quickly: Narendra Modi
[Editor: If the mining in Goa starts then there is chance for Western India Shipyard Ltd (Rs.2.89) to win contracts from Large Cargo Vessels (Supermax, Handymax, Seawaymax, etc) too, apart from Cruise Liners, Ferries and Smaller Cargo Vessels, which it is getting now. Being strategically located at Mormugao Port Goa along the west coast of India, Western India Shipyard Ltd (WISL) is best positioned to offer a complete range of ship repair services. WSIL's state-of-the-art Floating Dry Dock "westerner" has a capacity to repair ships upto 60,000 DWT and to accommodate ships upto 225 m length and 32.5 m in breadth. It is to be noted that Supermax, is one of the largest of the vessels with a size of around 50,000 to 60,000 DWT and can be as long as 200 meters or 656 feet. Handymax vessels are slightly smaller and have a displacement of 40,000 to 50,000 DWT. These ships are usually at least 150 meters or 492 feet. Moreover, there are recent media reports that the rates for very large gas carriers (VLGCs) are on the rise and many believe the segment will continue to gain momentum in the weeks to come. This might perk up the rates of VLCCs too. writes on June, 15, 2014: The Indian government is looking to boost the movement of cargo along its coastline by introducing new policy. According to the Business Standard, the Union government is planning to relax cabotage norms at major ports for empty containers, to allow foreign-flagged vessels carrying empty containers move on India's coastline without restriction. Overall the shipping sector has started to look good once again, after a long time. Also, the order book of Western India Shipyard Ltd is expected to cross Rs.100 Crores by the end of this Financial Year]
June 15, 2014: Panaji: Prime Minister Narendra Modi Saturday said he has told his ministers to solve the Goa mining crisis, adding mining in the state should be restarted quickly.

“I have told my ministers and their staff to pro-actively work to find ways and means to resolve the mining imbroglio as soon as possible,” Modi said.

Mining in Goa should be restarted quickly and be modernised so the mining process becomes “faster and better”, Modi said, adding it will help more people get employment.

Modi who was in Goa to attend a defence ministry function besides three other programmes organised by the state government and the party’s state unit, also said he was distressed workers from mining companies were jobless due to the 18-month-long mining ban.

The Supreme Court banned mining in Goa after a judicial commission exposed a mammoth multi-billion dollar scam.

The ban was lifted some weeks back, but mining has still not resumed as the state government is in the process of forming a mining policy as directed by the apex court.

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