July 23, 2020: Visakhapatnam Port Trust scraps contract; bankruptcy proceedings initiated against the firm’s coal terminal at VOC Port. ALBA Asia Pvt Ltd, the Indian dry bulk port operating company controlled by French shipping group Louis Dreyfus Armateurs SAS (LDA), has collapsed with state-run Visakhapatnam Port Trust terminating a contract for running a dry bulk terminal at the port just five years into a 30-year deal.
Source: Business Line
