Adani Group concludes Myanmar Port sale for consideration of $30 Mn

AHMEDABAD: Adani Ports and Special Economic Zone Ltd (APSEZ), the largest integrated transport utility in India and a part of the diversified Adani Group have concluded the Myanmar Port sale for a total considerationofUSD30Mn.

In May 2022, APSEZ announced signingofaSharePurchaseAgreement (SPA) for the sale of its Myanmar Port. The SPA had certain Condition Precedents(Cps),includingcompletion oftheprojectandrelevantapprovalsfor smooth conduct of business by the buyer.

Given the continuous delay in the approval process and challenges in meeting certain CPs, APSEZ has obtained an independent valuation on “as is where is” basis. Thereby the buyer and seller have renegotiated the sale consideration to USD 30 Mn. The buyer will pay the said amount to the seller within 3 business days on completing all the necessary compliance by the Seller. On receipt of thetotaltransactionvalue,APSEZshall transfer the equity to the buyer and its exitwillstandconcluded.

Commenting on the occasion, Mr. Karan Adani, CEO and Wholetime Director, APSEZ stated “This exit is in line with the guidance provided by the APSEZ Board based on therecommendationsmadebytheRisk CommitteeinOctober2021.”

Shantanu Thakur flags off the Direct Shipping Service between Tuticorin to Maldives, at V.O. Chidambaranar Port

TUTICORIN: At a ceremony held MinisterofStateforPorts,Shippingand Waterways, Shri Shantanu Thakur flagged off the vessel ‘M.V. MSS Galena’ from V.O. Chidambaranar Port, as the Direct Shipping Service between TuticorintoMaldives.

The vessel ‘M.V. MSS Galena’, a vessel with carrying capacity of 421 TEUsofcontainers&provisiontocarry bulk cargo, deployed by Shipping Corporation of India, arrived at PSA SICAL Container Terminal on 04.05.2023. Itwasloadedwith270TEUs of containers at PSA SICAL Container Terminal. ‘M.V. MSS Galena’ will sail fromTuticorintoMaleon05.05.2023.Itis scheduled to reach Male on 07.05.2023. The rotation of this shipping service is Tuticorin – Male – Tuticorin, and is scheduledtomake3callsamonth.

Speaking on the occasion,

ShriShantanuThakursaid,launchofthis historic and pioneering service concretely fulfilled the commitment made by our Hon’ble Prime Minister during his visit to Maldives. Not only this initiative helped to cut logistic and other costs but also enhancedconnectivityandreducedtime taken to transport goods between our twocountries.Hesaidthisserviceadded a new chapter to connectivity initiatives taken by both countries in (IOR) Indian Ocean Region & promoted, developed & stabilizedshippingconnectivitybetween Indian & Maldivian ports. This will further give impetus to bilateral trade between India & Maldives & thus will lead to greater trade & economic opportunities & enhance maritime trade links with a renewed vigour between the twocountries,headded.

Earlier the bulk cargo bound to Maldives from Tuticorin were sent through barges & sail ships and the containers bound to Maldives are routed through Colombo. A service between Tuticorin - KochiKulhudhuffushi-Male wasoperatedby SCI. Vessel ‘MCP Linz’ with a capacity of 200 TEUs of containers and 3000 Tonnes of general cargo was launched on 21.09.2020. The Contract concluded on28.08.2022.

m.v. “KMTC MUNDRA” V-2303 I.G.M. No. 2342812 Dtd. 04.05.2023

The above vessel has arrived at NHAVA SHEVA (BMCT) on 06-052023 with import cargoes from ports AKITA, BUSAN, BUSAN NEW PORT, CHIBA, DALIAN, DAMAIYU, HAIPHONG, HAKATA, HITACHINAKA, HOSOSHIMA, HUANGPU (IN GUANGZHOU), IMARI, INCHEON, IWAKUNI, JAKARTA, JIANGMEN (GAOSHA TMNL, KOBE, KWANGYANG, LIANYUNGANG, MIZUSHIMA, MOJI, NAGOYA, NINGBO, OITA, ONAHAMA, OSAKA, PANGKAL BALAM, QINGDAO, SHEKOU, SINGAPORE, TOKUYAMA, TOKYO, TOMAKOMAI, TOYAMASHINKO, TSURUGA, ULSAN, WENZHOU, XINGANG, YOKOHAMA.

Item No. and Bills of lading Nos. are as mentioned below :

Consignees are requested to present Original Bills of Lading duly discharged and obtain Delivery Order on payment of all charges as applicable. Detention charges where applicable will be charged as per tariff.

Our Surveyors are M/s. Pinnacle Marine Surveyors Pvt Ltd. Usual Survey conditions shall apply.

Consignees are also requested to note that the carriers and/or their Agents are not bound to send individual notifications regarding arrival of the vessel or the goods.

Note : For IGM & ITEM nos. Vessel arrival inquiry, destination charges tariff please visit our site : www.ekmtc.com For KOREA MARINE TRANSPORT CO. LTD.

As Agents :

M/S. KMTC (INDIA) PVT LTD

One International Center, Tower 3, 22nd Floor, 2202, Senapati Bapat Marg, Prabhadevi (West), Mumbai - 400 013, Maharashtra, India. E-mail : mumid@ekmtc.com

Notice To Consignees Notice To Notice To Consignees Notice To

The above vessels are expected has arrived to arrive BMCT/NSICT on above mentioned dates with Import Cargoes in containers.

Consignees are requested to obtain the Delivery Order by surrendering ORIGINAL BILLS OF LADING duly discharged on payments of relative charges as applicable within 5 days or else detention charges will be applicable.

Consignees will please note that the carriers of their agents are not bound to send individual notification regarding arrival of the vessel or the goods. For detailed information on cargo availability, please contact our office.

*Note: The importers having AEO status and those who are availing DPD facility for containerized cargo are allowed to pay Terminal Handling Charges (THC) directly to Ports/Terminal through their P.D Accounts. Upon making THC payment importers are requested to submit proof of payment duly stamped and acknowledged by Port/Terminal to Avana Global FZCO for issuance of Delivery Order (DO) without Avana Global FZCO’s THC Invoice and Receipt. Visit our Website : www.avanalogistek.com for Import Vessel arrival & IGM details