MIRA INFORM REPORT

 

 

Report Date :

10.08.2011

 

IDENTIFICATION DETAILS

 

Name :

MORMUGAO PORT TRUST

 

 

Administrative Office :

Headland, Sada Mormugao, Goa-403804, Maharashtra, India

 

 

Country :

India

 

 

Year of Establishment :

1888

 

 

Capital Investment / Paid-up Capital :

Not Available

 

 

Legal Form :

Government Owned Enterprise

 

 

Line of Business :

Providing Marine and Shipping Services

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a Government of Goa undertaking port trust having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct.

 

Subject being a Government of Goa undertaking port can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LOCATIONS

 

Administrative Office :

Headland, Sada Mormugao, Goa-403804, Maharashtra, India

Tel. No.:

91-832-2521100 / 1200

Fax No.:

91-832-251105

Website :

www.mptgoa.com

 

 

Major Ports of India:

·         Kandla

·         Mumbai, JNPT

·         New Mangalore

·         Cochin

·         Tuticorin

·         Chennai

·         Visakhapatnam

·         Paradip

·         Calukata

·         Haldia

 

BOARD OF TRUSTEES

 

Name :

Mr. P. Mara Pandiya

Designation :

Chairman

 

 

STAFF DIRECTORY

 

Name :

Dr. D. P. Rao

Designation :

Secretary

Address :

Government of Goa, New Secretariat Compalex, Porvorim-Bardez, Gao-403501, Maharashtra, India

 

 

Name :

D. I. G. S. D. Bhanot

Designation :

Commander

Address :

Coast Guard Goa Area, Headequarters No.11, Coast Guard Director, 4th Floor, Mpt Old Admin Building, Mormugao Harbour, Goa-403803, Maharashtra, India

 

 

Name :

Mr. A. S. Rao

Designation :

The Chief Freight Traffic Manager

Address :

South Western Railway, Headquarters Office, Transportation Branch, Hubli-580023, India

 

 

Name :

CMDE. Ajay K. Chhabra

Designation :

Naval Officer-in-Charge

 

 

Name :

Mr. Biplav Kumar

Designation :

Dy. Chairman

 

 

Name :

Mrs. Vidhya Sawant

Designation :

PS to Chairman

 

 

Name :

Mrs. Nanda Desai

Designation :

PA. to Chairman

 

 

Name :

Captain Vaswani Karan V 

Designation :

Deputy Conservator (Marine Department)

 

 

Name :

Captain Paramjeet Singh Saini

Designation :

Harbor Master

 

 

Name :

Mr. Nagappan Vaiyapuri

Designation :

Traffic Manager (Traffic Department)

 

 

Name :

Mr. U M Paranjape

Designation :

Docks Manager

 

 

Name :

Mr. K C Kuncheria

Designation :

Chief Mechanical Engineer

 

 

Name :

Mr. Eddy Rodrigues

Designation :

Plant Manager

 

 

Name :

Mr. Ashok J Lokhande

Designation :

Chief Engineer (Civil Engineering Department)

 

 

Name :

Mr. J A A Silveira

Designation :

Dy. CE

 

 

Name :

Mr. Suresh P. Shirwadkar

Designation :

Financial Adviser and chief Accounts Officer (finance Department)

 

 

Name :

Mr. Vinayaka Rao

Designation :

Dy. FA and CAO

 

 

Name :

Mr. Abhay M. Kesarkar

Designation :

Dy. Manager (IT)

 

 

Name :

Mr. Rajendra P. Paibir

Designation :

Secretary (General Administration Department)

 

 

Name :

Mr. J. B. Dhawale

Designation :

Dy. Secretary (IR)

 

 

Name :

Mr. M. B. Bansode

Designation :

Dy. Chief Vigilance Officer

 

 

Name :

Dr. D. P. Kudalkar

Designation :

Chief Medical Officer (Medical Department)

 

 

Name :

Dr. J. S. N. Ravi Krishna

Designation :

Radiologist

 

 

Name :

Mr. S. S. Mishra

Designation :

Commandant

 

 

BUSINESS DETAILS

 

Line of Business :

Providing Marine and Shipping Services

 

 

LOCAL AGENCY FURTHER INFORMATION

 

HISTORY

DEVELOPMENTS THROUGH THE YEARS  

At the time of its commissioning in 1888, the Subject comprised of 3 berths along with a breakwater having a length of 358 meters. As the years rolled by, the infrastructure slowly kept growing. By 1922, Berths 4 and 5 were built and the breakwater was extended to its present length of 522.40 meters. A mole of 270 meters was added.

 

With the emergence of mining as a major industry in Goa, a Master Plan was evolved by the Portuguese for the development of Subject as an iron ore terminal, envisaging "dedicated berth fitted with Mechanical Ore Loading Plants, provided and financed by various iron ore exporters." In accordance with this, in 1959 M/s Chowgule and Company Private Limited, was permitted to set up Asia's very first Mechanical Ore Handling Plant at Berth No.6, with a capacity of 1000 tph. Berth 7 was constructed as an adjunct to it. The Liberation of Goa on December 19, 1961 marked the end of an epoch in Goan history.

At the time of its commissioning in 1888, the Subject comprised of 3 berths along with a breakwater having a length of 358 meters. As the years rolled by, the infrastructure slowly kept growing. By 1922, Berths 4 and 5 were built and the breakwater was extended to its present length of 522.40 meters. A mole of 270 meters was added.

With the emergence of mining as a major industry in Goa, a Master Plan was evolved by the Portuguese for the development of Subject as an iron ore terminal, envisaging "dedicated berth fitted with Mechanical Ore Loading Plants, provided and financed by various iron ore exporters." In accordance with this, in 1959 M/s Chowgule and Company Private Limited, was permitted to set up Asia's very first Mechanical Ore Handling Plant at Berth No.6, with a capacity of 1000 tph. Berth 7 was constructed as an adjunct to it. The Liberation of Goa on December 19, 1961 marked the end of an epoch in Goan history.

Subject, went through a fair amount of change as the emphasis shifted to development of infrastructure. A couple of years after liberation, the port was delinked from the Railway management. The main railway section from Vasco da Gama to the border of Goa was transferred to the Southern Railways. The Port however, operated its own railway system between Vasco da Gama interchange point and the harbour area.

 

From 1948 onwards the iron ore traffic gained importance. The Japanese were rebuilding their nation and Goan iron ore was fated to play a key role in the Japanese industrial renaissance. Japan preferred Goan Iron ore for its expanding steel industry on account of price consideration and other logistics. The subject was now poised for a dramatic growth. It would no more be a sleepy port importing table wines from Portugal and exporting oil cakes from Hubli.

 

Others avenues had earlier been opened by enterprising foreigners. Josephine Hougaz was one such an ethnic Syrian holding a US passport. She introduced Goan cashew nuts to American chocolate makers. Wall Street had crashed. The year was 1929, for almonds and walnuts, until then the preferred fillings for

American chocolate and pastry makers, had reached levels that were beyond most of their consumers. But cashew nuts, though subject to considerable sea freight additional for importers, were in comparison cheap but nutritious and tasty American confectioners took to Goan cashew nuts in the year of the wall street crash.

The exploitation of iron ore mines in Goa on a commercial scale since 1947, brought about revolutionary changes in the pattern of Mormugao Port traffic. The level of  traffic at the port rose to over 2.78 lakhs tonnes  in the year 1953. In the  years that followed, the traffic grew by leaps and bounds reaching the mark of 6.4 lakh to 14.8 million tonnes in 1973-74. Today, the iron exported through subject constitutes 39 per cent of the total iron ore exports from India, and the port occupies a prestigious position amongst the Major Ports of the country.

 

The growth of traffic accentuated the inadequacy of the available port facilities but it offered new opportunities to daring entrepreneurs. In 1959, Chowgule and Company Private Limited, obtained a concession from the Portuguese government and set up a Mechanical Ore Handling Plant with a handling capacity of 10,000 tonnes per day. The growth of traffic accentuated the inadequacy of the available port facilities but

it offered new opportunities to daring entrepreneurs. In 1959, Chowgule and Company Private Limited, obtained a concession from the Portuguese government and set up a Mechanical Ore Handling Plant with a handling capacity of 10,000 tonnes per day. It was, it is claimed, the first of its kind in Asia.

 

The  declaration of subject as a Major Port in 1964 was a milestone in the annals of its history as it joined the ranks of the country's ten major Ports. The Port administration could now embark upon a sustained development programme as its newly formed Board of Trustees was empowered to take major decisions financial or otherwise.

 

With the rise of Brazil and Australia in recent times as aggressive ore exporters, the mineral ore industry today was seeing a sea of changes in iron ore market.

In 1965 therefore, a Perspective Plan was drawn up by a reputed firm of consulting engineers, seeking to develop subject systematically for providing deep waters and high capacity loading, particularly in relation to iron ore exports, which needed to be competitive in the international arena by reducing the transportation cost

 

As a first step in that direction, a 20-year perspective plan for the port development was prepared in February 1965, by the consulting engineering firm of Randal, Palmer and Tritton. Thereafter, in February 1968, HOWE (India) Private Limited were appointed to prepare the design study for the establishment of a modern mechanical ore handling facility for the port within the framework of the perspective plan. As a follow-up on the report by HOWE (India) Private Limited a mechanized ore handling facility for receiving, stockpiling, reclaiming, weighing, sampling, and ship-loading of 12 million tones of iron ore annually was installed and commissioned in 1979. The rated loading capacity of the ore handling system was of the order of 8,000 tones per hour. The dredging of the channel and berths was carried out to permit the loading of 60,000 dwt. ore carriers initially. Barge unloaders and rail wagon tippers were provided for quicker and more efficient handling of incoming ore.

 

Major developments of the Port were taken up only after it became a Major Port. A number of developmental projects were implemented under the various Five Year Plans of the Government of India. Consequently, a dedicated mineral oil berth, berth No. 8 was constructed in 1976. Later on as the general cargo traffic was gradually picking up in the Port, a number of schemes were implemented with a view to augment the general cargo handling facilities at the Port. Two multi-purpose general cargo berths, berth No.10 and No. 11 having draft of 11.00 mts and 12.50 mts were constructed and commissioned in 1985 and 1994 respectively. Meanwhile the Mechanical Ore Handling Plant installed in 1959 at Berth No. 6 was de-commissioned in 1992 due to obsolesce. The age old berths 1 to 3 were leased out to a private company, Western India Shipyard Limited, for installing a modern ship repair facility, which was commissioned in 1995. In 1997, the metre guage railway of the Port linking to the south Central Railway was converted to broad guage. By this, the Mormugao Port is now accessible for any part of the country through the broad guage railway system.

 

MORMUGAO PORT TRUST AND IRON ORE

Over the years, the port and the iron ore industry have developed a symbiotic relationship. During the economic blockade years of 1955-1961, it was iron ore that kept subject alive and functioning. The strength of this long relationship can be seen from the fact that the Port is consistently recording the highest export tonnage of ore in the country.

 

Today, countries like China, South Korea, Italy and other European countries have joined the roster of countries to which Goan iron ore is exported. China has replaced Japan as the largest consumer, importing 28.76 million tonnes of ore during the year 2008-2009

 

Ever since the inception of the iron ore trade in Goa, ore exporters have displayed a remarkable ability to adapt and devise innovative responses to changing circumstances and times, in the process branching out into related industries that have made them increasingly self sufficient and reliant. The present draft at Berth No.9, permits the loading of Panamax as well as Cape size vessels alongside the Mechanical Ore handling plant. Undaunted, the mine owners have acquired transhippers, which up top the vessel in midstream. This form of combination loading enables vessels of 2,50,000 DWT to be served at Mormugao port, is a unique instance of private investment, helping to raise the port to international standards and enabling Goa retain its place in the world  Iron ore market.

 

The port has constructed 3 mooring dolphins capable of handling three to four vessels at a time. This facility can handle 5.30 million tonnes of traffic annually. At present, considering the demand for trade, additional 3 mooring dolphins are constructed which could handle 2.00 million tonnes of traffic annually.

 

Recently the port has introduced Trade Promotion Scheme whereby Ships are permitted to load by Ships' own gears at West of Breakwater.

 

LANDMARK EVENTS OF THE PAST SEVENTY YEARS

LANDMARK EVENTS OF THE CENTURY AND OVER

 

  • 26-12-1878
    A treaty was signed at Lisbon between Governments of Portugal and Great Britain.
     
  • 26-12-1878
    An agreement was signed between the West of India Portuguese Guaranteed Railway Company (WIPR) and Portuguese Government for construction of Harbour and connected Railway.
  • 1882
     The work of construction of the Harbour and the Railway line started.
  • 15-04-1885
    The first ship "S.S. WEST BOURNE" with 25' draft entered in Mormugao Port and touched the quay.
  • 1887
    The quay wall corresponding to the length up to Berth No. 3 protected by the breakwater of 358 m was completed.
     
  • 15-01-1887
    The total length of existing meter gauge railway track in the Goan Territory of 43 km between Mormugao-Sanvordem was in augurateed.
  • 26-12-1888
    Mormugao was connected with Southern Maharashtra Railway at Caranzol-Castle Rock meeting point.
  • 1912
    The Berth No. 4 with an extension of Breakwater by 150 m was completed.
  • 1917
    The breakwater was completed to its presents lengths 522.40 m and a mole of 270 m was added.
  • 1922
    The berth No. 5 was completed.
  • 1934
    Berth No.6 was partly completed.
  • 1954
    Working arrangement arrived at between the Southern Maratha Railway and the West of India Portuguese Guaranteed Railway in1902., continued up to August, 1954, when the Southern Maratha Railway ceased to operate traffic to and from Hinterland India and worked the railway between the Port and Sanvordem.
  • 1955
    After the closure of the Indian border, the Southern railway discontinued operation in Goa in December 1955.
  • 1956
    The administration of the port and its connected railway reverted to the Western Indian Portuguese Railway from January 1956.
  • 1958
    Berth No.6 was completed and berth No.7 was constructed as an adjunct berth to Berth No.6
  • 1959
    A Mechanical Ore Handling Plant, with a rated loading capacity of 600 TPH, owned by M/s. Chowgule and Company Private Limited, was commissioned on 1.4.59.

Berth No. 6 completed and Berth No. 7 was also constructed as an adjunct to the Mechanical Ore Handling Plant at Berth No. 6 and commissioning of Mechanical Ore handling Plant at Berth No. 6 owned by M/s Chowgule and Company Private Limited with an initially rated capacity of 600 TPH.

  • 1961
    An  autonomous body named 'Junta Autonoma dos Portos caminhos de Ferro Do Estado Da India' constituted by the Portuguese Government took over the administration of the Port and Railway on 1.4.1961 from Western India Portuguese Railway on the termination of the contract.
  • 1962
    After the liberation of Goa on 19.12.1961, administration of the Port and its connected railway was taken over by the Government of India on 8.1.1962.
  • 1963
    a) The main Railway section from Vasco da Gama to the border of Goa was transferred to Southern Railway on 1.5.1963, thus delinking the port from the Railway management.

b) Under the Indian Ports Act, 1908, the Mormugao Port was declared as a Major Port (Seventh Major Port), by the Ministry of Transport on 2.12.1963.

  • 1964
    The Major Port Trusts Act, 1963 was made applicable to the port of Mormugao and a Board of Trustees was constituted on 1.7.1964.
  • 1970
    The Mormugao Port Development Project was sanctioned by the Government of India on 27.1.1970. The major schemes included in the project were :

Construction of Oil Berth

Construction of Berth No.9 equipped with Mechanical Ore Handling Plant

Dredging and Reclamation

  • 1972
    MPT Hospital Building inaugurated
  • 1976
    Oil Berth (Berth No.8) was commissioned on 12.12.1976 by Dr. G. S. Dhillon, Hon. Union Minister for Shipping and Transport. 
  • 1978
    The Port's own Mechanical Ore Handling Plant with rated loading capacity of 8000 T.P.H. was commissioned at Berth No.9 for trial loading on 27.10.1978. The first vessel handled was 'ASIA GRACE' of 19,459 DWT.
  • 1979
    The Port's own Mechanical Ore Handling Plant was declared for commercial operation from 1.10.1979. The first vessel handled was 'AEGIS MYSTIC' of 20,950 DWT.
  • 1982
    1) Laying of foundation  stone for the Multi-purpose General Cargo Berth No.10 by Shri Veerendra Patil, Hon'ble Minister for Shipping and Transport on 19.4.82.

2) Annexe to the Administrative Office Building at Mormugao Harbour inaugurated by Shri Veerendra Patil, Hon'ble Minister for Shipping and Transport on 19.4.1982

  • 1983
    Extension of the MPT Hospital inaugurated by Shri R. Satarawala, His Excellency Limited Governor of Goa, Daman and Diu on 17.11.1983.
  • 1985
    The Multi-purpose General Cargo Berth (Berth No.10) was commissioned on 15.4.1985 by Shri Rajiv Gandhi, the Hon'ble Prime Minister of India.

Foundation Stone of Secondary School Building of the Port Trust was unveiled by Shri Z.R.Ansari, Hon'ble Minister of State for Shipping and Transport on 15.4.1985.

The Corner Stone for extension of Port Hospital, Phase-II consisting of new Operation Theatre and Surgical Ward was unveiled by His Excellency Shri Gopal Singh, Lt. Governor of Goa, Daman and Diu on 15.4.1985.

A book called the 'SONG OF THE GOLDEN GATEWAY' written by Shri Mario Cabral e Sa was released by Shri Pratapsingh Rane, Hon'ble Chief Minister of Goa, Daman and Diu on 15.4.1985.

The Port also celebrated its centenary on 15.4.1985, commemorating the berthing of its first ship s. s. 'WEST BOURNE' on the same date,a 100 years back.

  • 1986
    Deepvihar Secondary School inaugurated.

The new Computer system for Mormugao Port was inaugurated by Shri Cecil Noronha, Chairman Mormugao Port Trust on 3.9.1986

  • 1989
    Foundation stone for a modern barge unloading jetty, where a continuous barge unloader with iron ore unloading capacity of 1250 TPH was laid by Shri Rajesh Pilot, Hon'ble Minister for Surface Transport on 6.2.1989.

    "INDIRA GANDHI", a lash vessel called this Port on its maiden voyage on 20.3.89 and unloaded 20 empty barges for loading Alumina, destined to USSR.
  • 1991
    Bharat Ratna Dr. Babasaheb Ambedkar Vocational Centre, inaugurated by Dr. Mrs. Savita Ambedkar on 19th August, 1991.
  • 1992
    Continuous Barge Unloader of 1250 TPH as an adjunct to Berth No.9 (MOHP) was commissioned by Shri. Jagdish Tytler, Hon'ble Minister of State for Surface Transport on 9.5.92.

A regular container Feeder Service started from Mormugao Port on 12.9.92 at the hands of Shri. Shaikh Hassan Haroon, Hon'ble Speaker of Goa Legislative Assembly.

  • 1993
    An agreement signed between M/s. Western India Shipyard Limited for leasing land and water area for construction of modern Dry Dock at Mormugao Port in April 1993. Deepvihar Higher Secondary School inaugurated.
     
  • 1994
    The work of converting the meter gauge line inside the port into broad gauge was awarded to South Central Railways on 31.3.1994

Berth No.11 was commissioned on 9.8.94, pending the completion work of back-up area.

  • 1995
    Two Warehouses E-1 and E-2 with an area of 5,000 sq. mts. each near Berth No. 10 and 11 was commissioned on 24.11.95.

A floating Dry Dock constructed by WISL was inaugurated by Shri. Rajasekharamurthy, Hon'ble Minister for surface transport on 23.12.95.

  • 1996
    The back-up area of Berth No.11. was commissioned on 25.7.96.

The Sports Academy inaugurated and Foundation Stone for Sports Academy Complex was laid by Shri. Venketaraman, Hon'ble Minister for Surface Transport on 26.12.1996.

New Administrative Office Building at Headland inaugurated by Shri. Venketaraman, Hon'ble Minister for Surface Transport on 27.12.1996.

A book 'DESTINATION GOA - THE INVESTOR-FRIENDLY PARADISE', written by Mario Cabral e Sa was released at the hands of Shri. Venketaraman, Hon'ble Minister for Surface Transport on 26.12.96.
 

  • 1997
    The Port acquired a Reach Stacker of "FANTUZZI" make on BOOT basis to make it available to Port users on hire. This was put into operation from 4.4.97.

The Letter of Intent given to M/s A.B.G. Heavy Industries, Mumbai for reconstructing old berths 5 and 6 into deep drafted berths for handling coal, steel and other cargoes on 8.7.97.

B.G. Railway operations were inaugurated on 2/12/97, by Shri Yogendra Narain

A commemorative volume was released by MPT marking 50 years of Indian Independence.

The Port procured a high powered WDSL loco (1350 HP,4500 T) hauling capacity from Diesel Locomotive Works, Varanasi.

The Mormugao Dock Labour Board was merged with Mormugao Port Trust with effect from 1/4/98.

  • 1999:2000
    Award for construction of two multipurpose bulk cargo berths 5A and 6A to M/s ABG Goa Private Limited.
     
  • 2000
    The prestigious ISO 9002 Certificate for Providing Seaport facilities and related support services for sea-borne trade was received at the hands of Hon'ble Minister of Surface Transport, Shri Rajnath Singh on 29.04.2000 and that Mormugao is the first major Port in the country and the12th Port in the world to receive this coveted certificate.
  • 2001
    Foundation stone for construction of 100 bedded hospital with modern facilities.
  • 2002

Vessel Traffic Management System was installed on 27th March 2002 for vessel traffic control and to improve safety in navigation.

Commissioning of 3 nos. Mooring dolphins with a combined capacity of two million tonnes per annum for vessels upto 70,000 DWT.

  • 2003
    The Port has successfully transited from ISO 9002:1994 to ISO 9001:2000. The prestigious certificate was received at the hands of Hon'ble Minister for Shipping, Shri Shatrughan Sinha.

Two highly manoeuvrable tugs with Voith Schneider propulsion systems of 45 tonne Bollard pull each have been procured for augumenting pilotage services.

  • 2004
    Mormugao Port has achieved the International Ship and Port Security (ISPS) code compliance. The Mormugao Port Chairman, Shri P. K. Mohanty, received the Certificate of compliance No. DGS/SOC/007 dated 13/05/2004 from Shri D. T. Joseph Secretary, Ministry of Shipping on 18th June, 2004 in New Delhi.

    Berths 5A and 6A have been constructed by M/s. ABG Goa Port Limted on BOOT basis and commissioned for operation in June,2004.The first vessel berthed on 19.06.2004 to discharge coal for M/s .J.V.S.L 

NEWS

 

PRESS RELEASE

 

SECURITY CONCERNS COMPEL MORMUGAO PORT TRUST (MPT) TO CLOSE KHAREWADO JETTY

PRAVEEN AGARWAL - CHAIRMAN- MPT

 

The recent Mumbai terrorist attacks have exposed the relatively ineffective and weak security along with the long

Indian Coast Line. Some of the vulnerable landing points used by terrorists, smugglers, subversive elements, and

similar anti-national elements, are the fish landing points at various locations throughout the 6500 kms and odd

Coast of the country.

 

Khariwado fishing jetty at Vasco Beach and Bay, almost within arm’s length from Berth No.11 of Mormugao Port Trust is a major security threat to vital port installations as well as International and Indian Merchant Ships calling

at Mormugao Harbour. Its existence has all through been a matter of serious concern for the port authorities and the Union Government. Captains of visiting international merchant ships have repeatedly expressed concerns on

the prevailing grave insecurity due to the operations of large number of fishing trawlers and boats at touching distance from their ships, even when they are at berth. Merchant ships have time and again drawn attention of the

Port Authorities to the criss-crossing of fishing trawlers, boats and canoes, on the port navigational channel when

the ships enter or leave the port. They have been reporting to the international shipping community, that their ships are in extremely insecure condition while at Mormugao Port, due to the existence of the large number of fishing boats and trawlers alongside. Many a time, the khariwado fishermen cast their nets and carry out fishing in Port Operational waters, which has been strongly recommended to be prohibited forthwith by the Indian Coast Guard and Navy.

 

There have been innumerable instances of thefts and pilferages from MPT premises due to the existence of the

fishing jetty and kharewado slums contiguous to MPT’s operational areas. Instances of Pakistani seamen employed on International Merchant Ships being ferried by kharewado fishing trawlers and boats to the shore have been frequently reported, even though this is expressly prohibited as per the laws of the land.

 

Kharewado slums are notorious for smuggling and illegal activities since the last 30 years or so. Their immediate proximity to the fishing jetty supports the strong likelihood of the kharewado fishing jetty being used for illegal and anti national activities. Fishing trawlers and boats not belonging to the Goa Fishing Boats Owners Association (GFBOA) have been reported to be berthing at the jetty. These have often been found to be carrying alleged fishermen and others without any proper identification documents.

 

With the coming into force of the International Ships and Ports Facility Code (ISPS) from 2004 onwards, MPT runs the risk of losing its traffic of Merchant Ships due to the very existence of the khariwado fishing jetty within Vasco Bay. The ISPS Code is a mandatory legal provision, necessarily to be complied with, by Ports where international merchant ships call. If the international shipping community finds MPT to be non-compliant with the ISPS Code, international merchant ships will stop calling at the Port altogether. This would be a national disaster and major blow to the trade and commerce of Goa in particular, and to the economy of the nation in general.

 

After the American Naval Ship “USS Cole” was hit by an explosives laden barge by terrorists in 2001, the USA has made it an abundantly clear that US registered merchant ships, as well as US naval ships, will not call at

international ports which fail to comply with the ISPS Code. Similar stand has been taken by all other developed

countries. With the heightened stress on proper implementation of the ISPS Code throughout the world, all Indian Ports, including Mormugao Port, have to take steps for full compliance in all respects.

 

Very recently, security agencies all over the country, the Intelligence Bureau (IB), the Home Ministry – Union Government, Directorate General (Shipping), which is the statutory authority charged with the responsibility of implementing the ISPS Code, various committees set up by the Government for improving security and safety measures at Indian Ports, and a number of other bodies, have recommended immediate relocation of the khariwado fishing jetty outside Vasco Bay, if MPT wishes to obtain the certificate of proper compliance with the ISPS Code. Consequent upon these recommendations and findings, and keeping in view the fact that merchant shipping activity at MPT is the life line of the Goan economy, MPT has been making consistent efforts to persuade the khariwado fishing community, the khariwado slum dwellers, and most importantly the State Government, to identify a mutually acceptable alternate location for construction of a world class fishing jetty for the khariwado fishermen. Keeping in view its social responsibilities, Mormugao Port has offered to construct the relocated new state of the art fishing jetty entirely at the expense of the Central Government and MPT itself. The entire work of planning, designing, obtaining statutory and regulatory clearances like environment clearance, funding, actual construction of the jetty, reclamation of land, and a host of other activities, has been undertaken to be done by the MPT itself, even though all these activities are outside the scope of the normal port operations and activities, and are really the responsibility of the Government of Goa. Interestingly, while the Goa Port is upgrading the Malim, Betul, Cortalim and Chapora fishing jetties, no attention has been paid to the khariwado jetty. Significantly, only MPT has gone out of its way till now to consistently maintain and provide all facilities at the kharewado jetty. This will no longer be possible in view of the serious security threat.

 

Moreover, for many years now, MPT has been unable to proceed further in its stated objective of constructing a

world class fishing jetty for the khariwado fishermen, simply because the State Government has not given its approval to an alternate location. At one stage, MPT had obtained all the clearances, other than the Government of Goa approval, including funding of Rs.150.000 millions for construction of the new fishing jetty at Gina Penta Chicalim. However, only because the State Government did not give its consent to the proposed location, MPT had to shelve the project.  Now, the likely cost of the new fishing jetty is in the region of Rs.350.000 millions. The Central Government and MPT are willing to bear this entire huge cost. MPT is willing to offer any suitable site within MPT limits, outside Vasco Bay, for the new jetty. It may not be out of place to mention that MPT will be giving away a large and valuable water area of its own for the jetty.

 

Once again, the absence of the requisite sanction of the State Government is the only obstacle to the construction of the new jetty.

 

MPT has also offered to bear the beneficiary cost for each residential unit, the contribution of the urban local body, which in this case is the Mormugao Municipal Council (MMC), the unit cost difference, the consultant’s cost, and other expenses and costs necessary to be incurred for rehabilitating and relocating the khariwado slum dwellers under the Integrated Housing and Slum Development Programme (IHSDP) of the Ministry of Urban Poverty Alleviation, New Delhi. Under this scheme, all the present khariwado slum dwellers, who are essentially encroachers as they have constructed unauthorized structures in violation of CRZ Regulations on MPT land at Vasco Beach, Vaddem and other coastal areas, will be given legitimate modern flats of their own at Adarshnagar land acquired by MPT for rehabilitating its Project Affected Persons. Thus, after their relocation and rehabilitation, the quality of life of the khariwado slum dwellers and others would improve substantially, and they would have houses with proper legal ownership. Again this Project for rehabilitating the khariwado slum dwellers to Adarshnagar is held up for want of the ‘No Objection’ from the Mormugao Municipal Council and the State Government. MPT is willing to offer Adarshnagar land valued at over Rs. 200.000 millions for this project.

 

Looking to the urgency of the situation; the continued security threat to MPT; and the absence of the requisite approval of the GoG for the new location, MPT is constrained to stop the operations of the khariwado jetty completely. Consequently, all the recurring costs incurred by MPT for years now in keeping the khariwado jetty operational, including payment of electricity bills of the khariwado jetty, continued permission for operation of the

diesel dispensing unit at khariwado, etc., will have to be stopped forthwith. Incidentally, till now MPT has been bearing the cost of the innumerable illegally tapped connections of electricity from the khariwado fishing jetty, with a view not to deprive the khariwado fishermen of this important facility. However, such misuse cannot be allowed to continue for too long now.

 

MPT had convened a High Level Meeting on 16/1/2009 to resolve this relatively simple issue. However, the concerned authorities and GFBOA did not attend. MPT has again convened a High Level Meeting on 3/2/2009, in

which, senior Ministers of the GoG have been requested to attend along with the representatives of the GFBOA, GBOA and other constituents of MBA. All that MPT desires is the go ahead from the State Government, with absolutely zero financial implications, for the alternate site outside Vasco Bay, but within MPT limits, for starting the construction of the new Jetty. Once the new location is found mutually acceptable, MPT can plan how best the fishing activities of the kharewado fishermen can continue, till they shift to the new jetty after its completion.

 

We must ask ourselves what is it in our system of governance that prevents those having power and authority to take actions, which are clearly for the benefit of individuals, community at large, and the nation. If the above proposals for bringing about qualitative improvement in the livelihood of the people of Vasco, and providing better living conditions for their families, can remain pending for so long, maybe it is necessary for administrators and leaders to take a serious relook at their styles of functioning. We are also left wondering whether there is any concern at all for the integrity and security of the nation.

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                              None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 45.17

UK Pound

1

Rs. 73.71

Euro

1

Rs. 64.26

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

-

NB

                                       New Business

-

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.