Commerce Minister highlights initiatives of Export Development Fund to boost exports

NEW DELHI: The Minister of Commerce and Industry, Piyush Goyal, has informed the Parliament that India’s overall exports (merchandise and services) has increased from USD 498.63 billion in 2017-18 to USD 538.07 billion in 2018-19, registering a positive growth of 7.91% as compared to the previous year. India’s exports have also increased from USD 262.14 billion in 2018-19 (Apr-Sept) to USD 266.63 billion in 2019-20 (Apr-Sept), showing a positive growth of 1.71% during current year.

 

There exists Export Development Fund (EDF) in Export-Import Bank of India under the provisions of the Export-Import Bank of India Act, 1981.

 

Government has taken following steps to increase exports and thereby earn foreign exchange for the Country:

I. A new Foreign Trade Policy (FTP) 2015-20 was launched on 1st April 2015. The policy, rationalised the earlier export promotion schemes and introduced two new schemes, namely Merchandise Exports from India Scheme (MEIS) for improving export of goods and Services Exports from India Scheme (SEIS) for increasing exports of services. Duty credit scrips issued under these schemes are fully transferable.

ii. The Mid-term Review of the FTP 2015-20 was undertaken on 5th December, 2017. Incentive rates for labour intensive/MSME sectors were increased by 2% with a financial implication of Rs 8,450 crore per year.

iii. A new Logistics Division was created in the Department of Commerce to coordinate integrated development of the logistics sector. India’s rank in World Bank’s Logistics Performance Index moved up from 54 in 2014 to 44 in 2018.

iv. Interest Equalization Scheme on pre and post shipment rupee export credit was introduced from 1.4.2015 providing interest equalization at 3% for labour intensive/ MSME sectors. The rate was increased to 5% for MSME sectors with effect from 2.11.2018 and merchant exporters were covered under the scheme with effect from 2.1.2019.

v. Various measures for improving Ease of Doing Business were taken. India’s rank in World Bank Ease of 

Doing Business ranking improved from 142 in 2014 to 63 in 2019 with the rank in trading across borders moving up from 122 to 80.

vi. A new scheme -Trade Infrastructure for Export Scheme (TIES) - was launched with effect from 1st April 2017 to address the export infrastructure gaps in the Country.

vii. A comprehensive Agriculture Export Policy was launched on 6th December, 2018 with an aim to double farmers’ income by 2022 and provides an impetus to agricultural exports.

viii. Transport and Marketing Assistance (TMA) scheme has been launched for mitigating disadvantage of higher cost of transportation for export of specified agriculture products.  

ix. A scheme for Rebate of State and Central Taxes and Levies (RoSCTL) covering export of garments and made-ups was notified on 7.3.2019 providing refund of duties/taxes at higher rates.

 

Shipping Minister approves Project of Rs 25.58 crores for Development of Loktak Inland Waterways Project in Manipur

NEW DELHI: The Ministry of Shipping recently gave approval for the development of Loktak Inland Water ways improvement project in Manipur under the central sector scheme. The estimated cost of the project is Rs 25.58 crores. The Loktak Lake is the largest fresh water lake in North East located at Moirang in Manipur.

 

In an official statement, the Minister for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya said that Northeast is a beautiful region with stunning land scapes and holds a lot of opportunity for tourism purposes. He said that the project will develop the Inland water transport connectivity in North East States and give boost to the tourism sector also.

Action taken against 1,271 firms for misusing Export Promotion Scheme: Piyush Goyal

NEW DELHI: The Commerce Ministry has taken action against 1,271 companies for misusing facilities under the export promotion scheme during the last three years, Parliament was informed.

 

For misuse of facilities, companies have been denied further facilities under the export promotion scheme, their importer exporter code (IEC) has been cancelled/suspended, financial penalty imposed, and recovery proceedings initiated, Commerce and Industry Minister Piyush Goyal said to Lok Sabha.

 

"Action for misuse of facilities under Export Promotion Scheme during the last three years has been taken against 1,271 companies by Directorate General of Foreign Trade," he said.

Govt to invest Rs 100 lakh crore in Infra (including Shipping & Ports) over next 5 years

NEW DELHI: Commerce and Industry Minister Piyush Goyal said the Government has chalked out a plan envisaging an investment of Rs 100 lakh crore in the infrastructure sector over the next five years.

 

“The investment will transform availability and quality of infrastructure at Airports, Roads, Highways, Railways, Ports. All infrastructure-related sectors (Aviation, Shipping, Electricity, and Oil & Gas) are going to see a huge thrust in the next five years,” Goyal said at an awards ceremony organised by the India Trade Promotion Organisation here.

 

Goyal, who is also Railways Minister said that Rs 100 lakh crore in the next five years is “not a small amount”.

 

The railways, he said, has drawn up a 12-year plan entailing an investment of Rs 50 lakh crore which is an “unheard of investment spree”.

“Obviously, the Government cannot put in this kind of money so we will have to engage the private sector. We will have to work closely through the public-private partnership model,” Goyal said.

Paradip Port hosts “Port Users’ Meet -2019,” honours Top Achievers

PARADIP: Paradip Port’s much awaited event – “Port Users’ Meet 2019” was held on 27 November 2019 at the Officers’ Club of PPT.

 

Gracing the occasion as Chief Guest, Shri Rinkesh Roy, Chairman, PPT, said that the entire efforts of port users and the entire ecosystem put in place have delivered more than 100 MMT cargo handling for the last two years and this year, it will definitely cross 110 MMT mark.

 

Shri Rinkesh Roy stated: “The port has been focusing on Safety, Efficiency and Environment. This will make it one of the leading ports in India in coming year. With motivated team of employees and energized team of port users, it will rewrite success saga in years to come.”

Like previous years, Shri Roy, presented awards to the best performing Exporters, Importers, Stevedores and Shipping/Steamer Agents for their exemplary performances.

 

In Exporters category, Tamil Nadu Generation & Distribution Corporation Limited gained the first position, while Indian Oil Corporation Ltd came second and Essar Steel India Ltd stood third.

 

In “Importers” category, IOCL Pipeline Division remained on top, Indian Farmers Fertilizer Cooperative Limited gained second place, and Bhusan Steel Limited (presently TATA Steel BSL ) got the third spot.

 

In Stevedores, Orissa Stevedores Limited got the first place, Ripley & Co. Stevedoring & Handling Pvt. Ltd., second and ACE Commercial Co. Pvt. Ltd., remained in third position.

 

In “Steamer Agents” category, Everett India Pvt. Ltd topped the list by handling 263 vessels, second place went to J.M.Baxi & Co, who handled 255 vessels for the period. Third place was secured by Seatrans Shipmanagment Services, which handled 213 vessels.

  

Earlier, Shri S.K. Mishra, Traffic Manager, PPT, welcomed the invitees with an eloquent speech. HoDs of PPT, Senior Officer and Port Users participated in a cultural evening, which followed the award distribution ceremony. Shri A.K. Sahoo, DTM, offered the vote of thanks.

Visakhapatnam Port to emerge as a Transhipment hub

VISAKHAPATNAM: With all-out efforts being under way to elevate its ranking to third position among Major Ports after Kandla and Paradip, the Visakhapatnam Port Trust (VPT) has set in motion an exercise to emerge as a transhipment hub.

 

The VPT, which ranked fourth by handling a cargo of 65.30 million tonne during 2018-19, has already received 3.8 million tonne more than the corresponding period last year witnessing the highest growth rate among Major Ports in the Country. 

 

“We are expecting to handle a throughput of 70 million tonne to take over third position during the  current fiscal,” VPT Chairman 

K. Ramamohan Rao has told.

 

As a preparation to become transhipment hub to handle mainland vessels with an overall length (LOA) of 397 metres to carry 15,000 to 

16,000 containers from the present 320 LOA containing 6,000 to 7,000 containers, the VPT conducted simulation studies at FORCE Technology, Singapore, sometime ago which proved the scope for handling bigger size vessels technically viable.

 

Three pilots have been deputed to Singapore for training. Another batch of three pilots from the port will be sent to Singapore in the first week of December. “We will also introduce pilot position unit, a software system, to monitor by the pilots shortly,” VPT Deputy Chairman P.L. Haranadh has said.

He said training the pilots and introduction of the new system would be continued simultaneously. On the other hand, the Container Terminal-2 will increase the quay length from 450 metres to 1km. The construction of the new terminal has been undertaken under DBFOT route at an estimated cost of Rs. 633 crore.

 

According to Mr. Haranadh, steps are also being taken to modernise the crane and other equipment and navigation infrastructure as the Terminal-2 will be operational by March, 2021.

 

Discount offer

The VPT is also contemplating tying up with the Kolkata Port for fixed window movement to give priority berthing to cargo meant for transshipment. Visakhapatnam has a deep-drafted container terminal, said to be the deepest in the Country with a draft of 14.5 metres. The VPT is offering 10% extra discount on vessel related charges for handling 240 containers. VPT is also offering 40% discount on vessel related and handling charges for Coastal Shipping.

 

Ports are stronger together feels Port of Antwerp

ANTWERP: In 2019 Port of Antwerp signed MoUs (Memoranda of Understanding) with ports all over the world. Various project teams from the different ports are working towards wider partnership aimed at facing the challenges of the future together and achieving higher levels of performance. 

 

The first MoU of the year was signed with Montreal Port Authority. This was an extension and broadening of another agreement signed in 2016. Under the new MoU a project plan is being set up focusing on solutions for mobility, energy transition, sustainability and security.  

This was followed by MoUs with Port of Buenos Aires, Port of New York New Jersey and the French umbrella organisation Hauts-de-France.

 

These smaller agreements concerned shared promotion activities and more intensive collaboration. They included agreements on sharing logistics information, exchanging new findings on innovation and digitisation, and generating new trade flows. But in all cases the wider aim was to develop together as ports of the future.  

 

"We found that there are great similarities between our long-term vision and those of our partners," explains Wim Dillen, International Development Manager at Port of Antwerp. "We hope to learn from one another by sharing best practices in innovation, digitisation, promotion and business development. By so doing we will develop together in a sustainable way and improve our services for international shippers, forwarders and shipping lines."

 

Collaboration for sustainable transport

The collaboration extends not only to ports. An MoU was signed on 18 September with the Moravia-Silesia region of the Czech Republic and the Czech rail company SŽDC for development of a new rail container terminal, with the aim of setting up a rail link between Antwerp and the Mošnov industrial zone. In this way products from the Czech heartland will be able to reach Antwerp and vice-versa easily in a sustainable way, said an Antwerp Port statement.

JNPT observes 70th Constitution Day November 29 , 2019

NAVI MUMBAI: Jawaharlal Nehru Port Trust (JNPT), India’s premier Container Port celebrated Samvidhan Divas to commemorate the adoption of Constitution of India on Tuesday, November 26, 2019 with great enthusiasm and participation of all the officials and staff of JNPT. 

The Preamble of the Constitution of India was read out by Shri Sanjay Sethi, IAS, Chairman, JNPT in the presence of Head of Departments, Officers and staff of JNPT.

 

“On this day, we celebrate the spirit of freedom and democracy of this great Country. Today we pay our homage to the father of Indian constitution, Dr. Babasaheb Ambedkar for capturing the true spirit to make India a Sovereign, Secular, Socialist, Democratic and Republic Nation. The right to life and the freedom of speech empower citizens to lead a life according to their choice. 

 

JNPT is proud of its contribution to the nation and of upholding the constitutional values,” said Shri Sethi.

 

It was on November 26, 1949 that the Constituent Assembly of India formally adopted the Constitution of India, which subsequently came into effect on January 26, 1950. Accordingly, November 26 is celebrated as the country’s Constitution Day every year to value and preserve the rich heritage and the composite culture of India. This year, JNPT will be holding year-long activities highlighting citizens' duties through talks, rallies and other activities as part of the awareness campaign, said a JNPT release.

Indian PSEs should boost Exports through High-Level Export Strategy Committee: CII

NEW DELHI: “Setting up a High-Level Export Strategy Committee will implement the five-point agenda set out by the Prime Minister for enhancing the competitiveness of Indian PSEs by 2022.
A short-term (5 years) and long-term (10 years) roadmap for the PSEs, clearly laying down exports and growth targets, is the order of the day to enhance their geo-strategic reach,” stressed Mr Chandrajit Banerjee, Director-General, Confederation of Indian Industry (CII).

CII Research has brought out a report ‘Can the Indian PSEs enhance their Geo-strategic reach’, which presents a roadmap to expand exports and geo-strategic reach of PSEs by 2022. It recommends that PSEs bid for international projects as a consortium, leveraging each other’s mutual competence, experiences and strengths. They should also leverage regional and bilateral trade agreements in sectors where they have a comparative advantage.

 

Most PSEs have been exporting and/or have an international presence. As per the CII report, they now have presence in over 80 countries across diverse regions with majority concentrated in the South Asian region. A number of them are moving away from their traditional markets to new markets, such as Africa and Cambodia, Laos, Myanmar and Vietnam (CLMV).

 

The report points out several domestic and external barriers, which are inhibiting the PSEs’ ability to enhance exports. Lack of autonomy, multiple procedures, management gaps, and so on lead to loss of potential business opportunities.

 

The report further identifies that many PSEs do not even have a dedicated international desk or in-house teams which can support exports and international competitive bidding. There are wide variations in terms of support available from the Nodal Ministry/Reporting Ministries of the PSEs. CII suggested a well-defined process for sharing of information between the Indian Embassies, nodal Ministries, PSEs and their associations.

The CII report underscores that India’s Public Sector Enterprises can enhance their geo-strategic reach by 2022 with the actioning of the 15-point recommendations for the PSEs, Government and industry associations.

Real estate ancillary industries counting on ‘stress fund’ for revival

The real estate sector and the construction industry together form the second-largest employer in India. Once construction of housing projects resumes, ancillary industries expect to get more business

Read more at:
//economictimes.indiatimes.com/articleshow/72289657.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

The real estate sector and the construction industry together form the second-largest employer in India. Once construction of housing projects resumes, ancillary industries expect to get more business

Read more at:
//economictimes.indiatimes.com/articleshow/72289657.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Commerce Minister highlights initiatives of Export Development Fund to boost exports November 29 , 2019

NEW DELHI: The Minister of Commerce and Industry, Piyush Goyal, has informed the Parliament that India’s overall exports (merchandise and services) has increased from USD 498.63 billion in 2017-18 to USD 538.07 billion in 2018-19, registering a positive growth of 7.91% as compared to the previous year. India’s exports have also increased from USD 262.14 billion in 2018-19 (Apr-Sept) to USD 266.63 billion in 2019-20 (Apr-Sept), showing a positive growth of 1.71% during current year.

 

There exists Export Development Fund (EDF) in Export-Import Bank of India under the provisions of the Export-Import Bank of India Act, 1981.

 

Government has taken following steps to increase exports and thereby earn foreign exchange for the Country:

I. A new Foreign Trade Policy (FTP) 2015-20 was launched on 1st April 2015. The policy, rationalised the earlier export promotion schemes and introduced two new schemes, namely Merchandise Exports from India Scheme (MEIS) for improving export of goods and Services Exports from India Scheme (SEIS) for increasing exports of services. Duty credit scrips issued under these schemes are fully transferable.

ii. The Mid-term Review of the FTP 2015-20 was undertaken on 5th December, 2017. Incentive rates for labour intensive/MSME sectors were increased by 2% with a financial implication of Rs 8,450 crore per year.

iii. A new Logistics Division was created in the Department of Commerce to coordinate integrated development of the logistics sector. India’s rank in World Bank’s Logistics Performance Index moved up from 54 in 2014 to 44 in 2018.

iv. Interest Equalization Scheme on pre and post shipment rupee export credit was introduced from 1.4.2015 providing interest equalization at 3% for labour intensive/ MSME sectors. The rate was increased to 5% for MSME sectors with effect from 2.11.2018 and merchant exporters were covered under the scheme with effect from 2.1.2019.

v. Various measures for improving Ease of Doing Business were taken. India’s rank in World Bank Ease of 

Doing Business ranking improved from 142 in 2014 to 63 in 2019 with the rank in trading across borders moving up from 122 to 80.

vi. A new scheme -Trade Infrastructure for Export Scheme (TIES) - was launched with effect from 1st April 2017 to address the export infrastructure gaps in the Country.

vii. A comprehensive Agriculture Export Policy was launched on 6th December, 2018 with an aim to double farmers’ income by 2022 and provides an impetus to agricultural exports.

viii. Transport and Marketing Assistance (TMA) scheme has been launched for mitigating disadvantage of higher cost of transportation for export of specified agriculture products.  

ix. A scheme for Rebate of State and Central Taxes and Levies (RoSCTL) covering export of garments and made-ups was notified on 7.3.2019 providing refund of duties/taxes at higher rates.

 

Shipping Minister approves Project of Rs 25.58 crores for Development of Loktak Inland Waterways Project in Manipur November 29 , 2019

NEW DELHI: The Ministry of Shipping recently gave approval for the development of Loktak Inland Water ways improvement project in Manipur under the central sector scheme. The estimated cost of the project is Rs 25.58 crores. The Loktak Lake is the largest fresh water lake in North East located at Moirang in Manipur.

 

In an official statement, the Minister for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya said that Northeast is a beautiful region with stunning land scapes and holds a lot of opportunity for tourism purposes. He said that the project will develop the Inland water transport connectivity in North East States and give boost to the tourism sector also.

Action taken against 1,271 firms for misusing Export Promotion Scheme: Piyush Goyal November 29 , 2019

NEW DELHI: The Commerce Ministry has taken action against 1,271 companies for misusing facilities under the export promotion scheme during the last three years, Parliament was informed.

 

For misuse of facilities, companies have been denied further facilities under the export promotion scheme, their importer exporter code (IEC) has been cancelled/suspended, financial penalty imposed, and recovery proceedings initiated, Commerce and Industry Minister Piyush Goyal said to Lok Sabha.

 

"Action for misuse of facilities under Export Promotion Scheme during the last three years has been taken against 1,271 companies by Directorate General of Foreign Trade," he said.

Govt to invest Rs 100 lakh crore in Infra (including Shipping & Ports) over

NEW DELHI: Commerce and Industry Minister Piyush Goyal said the Government has chalked out a plan envisaging an investment of Rs 100 lakh crore in the infrastructure sector over the next five years.

 

“The investment will transform availability and quality of infrastructure at Airports, Roads, Highways, Railways, Ports. All infrastructure-related sectors (Aviation, Shipping, Electricity, and Oil & Gas) are going to see a huge thrust in the next five years,” Goyal said at an awards ceremony organised by the India Trade Promotion Organisation here.

 

Goyal, who is also Railways Minister said that Rs 100 lakh crore in the next five years is “not a small amount”.

 

The railways, he said, has drawn up a 12-year plan entailing an investment of Rs 50 lakh crore which is an “unheard of investment spree”.

“Obviously, the Government cannot put in this kind of money so we will have to engage the private sector. We will have to work closely through the public-private partnership model,” Goyal said.

Paradip Port hosts “Port Users’ Meet -2019,” honours Top Achievers

PARADIP: Paradip Port’s much awaited event – “Port Users’ Meet 2019” was held on 27 November 2019 at the Officers’ Club of PPT.

 

Gracing the occasion as Chief Guest, Shri Rinkesh Roy, Chairman, PPT, said that the entire efforts of port users and the entire ecosystem put in place have delivered more than 100 MMT cargo handling for the last two years and this year, it will definitely cross 110 MMT mark.

 

Shri Rinkesh Roy stated: “The port has been focusing on Safety, Efficiency and Environment. This will make it one of the leading ports in India in coming year. With motivated team of employees and energized team of port users, it will rewrite success saga in years to come.”

Like previous years, Shri Roy, presented awards to the best performing Exporters, Importers, Stevedores and Shipping/Steamer Agents for their exemplary performances.

 

In Exporters category, Tamil Nadu Generation & Distribution Corporation Limited gained the first position, while Indian Oil Corporation Ltd came second and Essar Steel India Ltd stood third.

 

In “Importers” category, IOCL Pipeline Division remained on top, Indian Farmers Fertilizer Cooperative Limited gained second place, and Bhusan Steel Limited (presently TATA Steel BSL ) got the third spot.

 

In Stevedores, Orissa Stevedores Limited got the first place, Ripley & Co. Stevedoring & Handling Pvt. Ltd., second and ACE Commercial Co. Pvt. Ltd., remained in third position.

 

In “Steamer Agents” category, Everett India Pvt. Ltd topped the list by handling 263 vessels, second place went to J.M.Baxi & Co, who handled 255 vessels for the period. Third place was secured by Seatrans Shipmanagment Services, which handled 213 vessels.

Earlier, Shri S.K. Mishra, Traffic Manager, PPT, welcomed the invitees with an eloquent speech. HoDs of PPT, Senior Officer and Port Users participated in a cultural evening, which followed the award distribution ceremony. Shri A.K. Sahoo, DTM, offered the vote of thanks.

Visakhapatnam Port to emerge as a Transhipment hub November 29 , 2019

VISAKHAPATNAM: With all-out efforts being under way to elevate its ranking to third position among Major Ports after Kandla and Paradip, the Visakhapatnam Port Trust (VPT) has set in motion an exercise to emerge as a transhipment hub.

 

The VPT, which ranked fourth by handling a cargo of 65.30 million tonne during 2018-19, has already received 3.8 million tonne more than the corresponding period last year witnessing the highest growth rate among Major Ports in the Country. 

 

“We are expecting to handle a throughput of 70 million tonne to take over third position during the  current fiscal,” VPT Chairman 

K. Ramamohan Rao has told.

 

As a preparation to become transhipment hub to handle mainland vessels with an overall length (LOA) of 397 metres to carry 15,000 to 

16,000 containers from the present 320 LOA containing 6,000 to 7,000 containers, the VPT conducted simulation studies at FORCE Technology, Singapore, sometime ago which proved the scope for handling bigger size vessels technically viable.

 

Three pilots have been deputed to Singapore for training. Another batch of three pilots from the port will be sent to Singapore in the first week of December. “We will also introduce pilot position unit, a software system, to monitor by the pilots shortly,” VPT Deputy Chairman P.L. Haranadh has said.

He said training the pilots and introduction of the new system would be continued simultaneously. On the other hand, the Container Terminal-2 will increase the quay length from 450 metres to 1km. The construction of the new terminal has been undertaken under DBFOT route at an estimated cost of Rs. 633 crore.

 

According to Mr. Haranadh, steps are also being taken to modernise the crane and other equipment and navigation infrastructure as the Terminal-2 will be operational by March, 2021.

 

Discount offer

The VPT is also contemplating tying up with the Kolkata Port for fixed window movement to give priority berthing to cargo meant for transshipment. Visakhapatnam has a deep-drafted container terminal, said to be the deepest in the Country with a draft of 14.5 metres. The VPT is offering 10% extra discount on vessel related charges for handling 240 containers. VPT is also offering 40% discount on vessel related and handling charges for Coastal Shipping.

 

Ports are stronger together feels Port of Antwerp

ANTWERP: In 2019 Port of Antwerp signed MoUs (Memoranda of Understanding) with ports all over the world. Various project teams from the different ports are working towards wider partnership aimed at facing the challenges of the future together and achieving higher levels of performance. 

 

The first MoU of the year was signed with Montreal Port Authority. This was an extension and broadening of another agreement signed in 2016. Under the new MoU a project plan is being set up focusing on solutions for mobility, energy transition, sustainability and security.  

This was followed by MoUs with Port of Buenos Aires, Port of New York New Jersey and the French umbrella organisation Hauts-de-France.

 

These smaller agreements concerned shared promotion activities and more intensive collaboration. They included agreements on sharing logistics information, exchanging new findings on innovation and digitisation, and generating new trade flows. But in all cases the wider aim was to develop together as ports of the future.  

 

"We found that there are great similarities between our long-term vision and those of our partners," explains Wim Dillen, International Development Manager at Port of Antwerp. "We hope to learn from one another by sharing best practices in innovation, digitisation, promotion and business development. By so doing we will develop together in a sustainable way and improve our services for international shippers, forwarders and shipping lines."

 

Collaboration for sustainable transport

The collaboration extends not only to ports. An MoU was signed on 18 September with the Moravia-Silesia region of the Czech Republic and the Czech rail company SŽDC for development of a new rail container terminal, with the aim of setting up a rail link between Antwerp and the Mošnov industrial zone. In this way products from the Czech heartland will be able to reach Antwerp and vice-versa easily in a sustainable way, said an Antwerp Port statement.

JNPT observes 70th Constitution Day

NAVI MUMBAI: Jawaharlal Nehru Port Trust (JNPT), India’s premier Container Port celebrated Samvidhan Divas to commemorate the adoption of Constitution of India on Tuesday, November 26, 2019 with great enthusiasm and participation of all the officials and staff of JNPT. 

The Preamble of the Constitution of India was read out by Shri Sanjay Sethi, IAS, Chairman, JNPT in the presence of Head of Departments, Officers and staff of JNPT.

 

“On this day, we celebrate the spirit of freedom and democracy of this great Country. Today we pay our homage to the father of Indian constitution, Dr. Babasaheb Ambedkar for capturing the true spirit to make India a Sovereign, Secular, Socialist, Democratic and Republic Nation. The right to life and the freedom of speech empower citizens to lead a life according to their choice. 

 

JNPT is proud of its contribution to the nation and of upholding the constitutional values,” said Shri Sethi.

 

It was on November 26, 1949 that the Constituent Assembly of India formally adopted the Constitution of India, which subsequently came into effect on January 26, 1950. Accordingly, November 26 is celebrated as the country’s Constitution Day every year to value and preserve the rich heritage and the composite culture of India. This year, JNPT will be holding year-long activities highlighting citizens' duties through talks, rallies and other activities as part of the awareness campaign, said a JNPT release.

Indian PSEs should boost Exports through High-Level Export Strategy Committee: CII

NEW DELHI: “Setting up a High-Level Export Strategy Committee will implement the five-point agenda set out by the Prime Minister for enhancing the competitiveness of Indian PSEs by 2022.
A short-term (5 years) and long-term (10 years) roadmap for the PSEs, clearly laying down exports and growth targets, is the order of the day to enhance their geo-strategic reach,” stressed Mr Chandrajit Banerjee, Director-General, Confederation of Indian Industry (CII).

CII Research has brought out a report ‘Can the Indian PSEs enhance their Geo-strategic reach’, which presents a roadmap to expand exports and geo-strategic reach of PSEs by 2022. It recommends that PSEs bid for international projects as a consortium, leveraging each other’s mutual competence, experiences and strengths. They should also leverage regional and bilateral trade agreements in sectors where they have a comparative advantage.

 

Most PSEs have been exporting and/or have an international presence. As per the CII report, they now have presence in over 80 countries across diverse regions with majority concentrated in the South Asian region. A number of them are moving away from their traditional markets to new markets, such as Africa and Cambodia, Laos, Myanmar and Vietnam (CLMV).

 

The report points out several domestic and external barriers, which are inhibiting the PSEs’ ability to enhance exports. Lack of autonomy, multiple procedures, management gaps, and so on lead to loss of potential business opportunities.

The report further identifies that many PSEs do not even have a dedicated international desk or in-house teams which can support exports and international competitive bidding. There are wide variations in terms of support available from the Nodal Ministry/Reporting Ministries of the PSEs. CII suggested a well-defined process for sharing of information between the Indian Embassies, nodal Ministries, PSEs and their associations.

 

The CII report underscores that India’s Public Sector Enterprises can enhance their geo-strategic reach by 2022 with the actioning of the 15-point recommendations for the PSEs, Government and industry associations.

 

India may extend onion export ban to February to curb prices

MANCHAR: India may keep a ban on onion exports until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a Government official said. 

The ban on overseas sales by India, the world's biggest exporter of the bulb, will keep prices elevated in Asia and require importers in Nepal, Bangladesh and Sri Lanka to find other sources to fulfil their demand.

 

Despite the export ban enacted in September to keep domestic supply inside India, prices have surged after rain and floods during October and November limited onion supply, especially in Maharashtra, the Country's biggest producer.

 

"We will think about resuming exports once prices come down. 

 

Right now it is not possible," a senior Government official at the Indian Department of Consumer Affairs said recently.

Alliance Air starts flight operations on Ahmedabad-Kandla route November 21 , 2019

NEW DELHI: Alliance Air, a subsidiary of Air India, has started flight operations on Ahmedabad-Kandla route, making it the 228th route to be activated under Centre's regional connectivity scheme UDAN.

 

Flight operation in the route was started on 18th November. Kandla is Alliance Air's 55th destination under UDAN scheme. Alliance Air would operate flight on the Ahmedabad-Kandla route every weekday, according to a release by the Ministry of Civil Aviation (MOCA).

"This also provides better connectivity for Kutch commercial hub Gandhidham and the Country's Major Port - Deendayal Port," the release said.

This is the third flight to operate from Kandla airport. Currently, Spicejet and Truejet operate a daily flight for Mumbai and Ahmedabad from Kandla.

India plans incentives for 324 firms to capitalize on Trade War

NEW DELHI: India is planning to offer 324 companies including Tesla Inc. and GlaxoSmithKline Plc incentives to set up factories in the South Asian nation in a bid to capitalize from the trade war between China and the U.S.

The Government proposes to provide the manufacturers land to set up a factory along with power, water and road access, according to draft of the document prepared by the Department for Promotion of Industry and Internal Trade and Invest India. Other companies that officials will reach out to include Eli Lilly & Co., South Korea’s Hanwha Chemical Corp., and Taiwan’s Hon Hai Precision Industry Co.

While the trade war has benefited countries such as Vietnam and Malaysia, rigid land acquisition rules and labor laws have prompted investors to largely ignore India when looking for alternatives to China. The latest proposal may reduce red tape, and set the nation, which expanded at the slowest pace in six years last quarter, on a path to double its gross domestic product to $5 trillion by 2025 -- a goal set 

Prime Minister Narendra Modi.

Piraeus Port Authority surpasses 5 million TEUs mark November 21 , 2019

PIRAEUS: The Piraeus Port Authority S.A. has announced on November 18th 2019 that it had handled the container with number CSUN7025891, which was unloaded from the COSCO SHIPPING CAPRICORN ship, reaching the total throughput in the Port of Piraeus at 5,000,000 TEU for this year.

The fact that the 5,000,000 TEU limit is already broken from November, brings the Port of Piraeus closer to the first position in the Mediterranean and possibly among the top four ports in Europe, said a Port release.

Yang Ming to launch New Southeast Asia services November 21 , 2019

TAIWAN: According to the latest estimates by the International Monetary Fund (IMF), the GDP growth rates in Myanmar and Philippines are expected to exceed 6% for the upcoming two years. In view of the strong and steady economic growth in both countries, Yang Ming Marine Transport Corp. announces the launch of two new services, SPE service 

(Singapore-Philippines Express Service) and MYX service (Malaysia-Yangon Express Service).

The new SPE service will provide a weekly service between Singapore and Philippines effective from December 2nd, 2019. The port rotation will be Singapore – Manila – Cebu - Singapore. Currently Yang Ming already has four services that directly link to Philippines, namely TPE, TPS, PH2 and KMC. The addition of SPE will enable local customers to have greater flexibility in cargo arrangement.

The MYX service will provide a weekly direct service between Port Kelang and Yangon effective from December 7th, 2019. The new service will not only satisfy the export and import demand in Myanmar but also shorten delivery time effectively.

Yang Ming is committed to pursuing better service quality. The new SPE and MYX services will optimize Yang Ming’s Intra-Asia service network and easily connect to Yang Ming’s global service network via transit hub Port Kelang and Singapore. With the new services, Yang Ming will provide customers with more convenient and comprehensive service.

OOCL celebrates 50th Anniversary with Hong Kong community

HONG KONG: OOCL held a 50th Anniversary Free Family Fun Day event on November 10, 2019, at the Hong Kong Maritime Museum (HKMM) to celebrate the company's fifty years anniversary with the Hong Kong community.  Specially arranged exhibits, videos, souvenirs and family activities were organized to share with visitors who came to learn more about

Hong Kong's home carrier and the city's colorful maritime history. 

In November of 1969, OOCL's Founder Mr. C. Y. Tung made international headlines for establishing one of the first Asian carriers to provide regular containerized shipping services between the Far East and the West Coast of the United States. OOCL's first box ships were all converted from its conventional liners with a carrying capacity of just 300 TEUs and they were known as the Victory class in the fleet. 

The first container sailing saw just 13 TEUs transported across the Pacific Ocean from Hong Kong to Long Beach, California, with an all Chinese crew.  In comparison to OOCL's latest G-class vessels like the OOCL Hong Kong with a carrying capacity of 21,413 TEU, the ultra-large containerships in our fleet today ships hundreds of thousands of containers each day, a far cry from the early days of containerization that began 50 years ago.

“OOCL is deeply rooted in Hong Kong and very proud of our long heritage in this port city we call home," said Mr. Andy Tung, Co-Chief Executive Officer of OOCL. “Together with Hong Kong, we witnessed the birth of containerization which changed the course of shipping and our company's history. 

We also saw the beginning of modern globalization where Hong Kong earned a prominent place on the trade map, and OOCL was there to link the city to markets around the world.  We are very happy to be on this journey together with the Hong Kong community and we certainly look forward to reaching many more milestones in the next 50 years ahead!"

Mrs. H. K. Joshi wins "Woman of Substance" Award

MUMBAI: Mrs. H. K. Joshi, CMD (A.C.), SCI has been conferred with Sailor Today Sea Shore Awards 2019 for the category of "Woman of Substance".

This Award was presented by Mr. M. Pinto, former Secretary Shipping at the 18th Sailor Today Sea Shore Awards 2019 held at Mumbai on 16th November 2019.

CBIC eases input tax refunds for exporters

NEW DELHI: In a major relief for the export sector, the Customs Authority has directed tax officials not to insist on proof of realisation of exports proceeds for processing of input tax refunds.

Delay in issuance of refunds has been a sore point for exporters since the switchover to goods and services tax (GST) regime in July 2017.

The new directive from the Central Board of Indirect Taxes and Customs (CBIC) follows assurance from Finance Minister Nirmala Sitharaman to the industry on easing of compliances.

The CBIC circular makes it clear that tax authorities will not insist on proof of realisation of export proceeds for processing of refund claims related to export of goods as it has not been envisaged in the law.

CBIC emphasised that exports have been zero rated under the Integrated Goods and Services Act. Hence, as long as goods have actually been exported, even after a period of three months, tax officials should not insist on payment of Integrated tax first and claiming refund at a subsequent date.

There have been reports that exporters were being asked to pay integrated tax in cases where the goods were exported more than three months after the date of the issue of the invoice for export.

Tax experts said the circular has come at an opportune time. “The circular has provided some key relaxations,” said Harpreet Singh, partner at KPMG. Tax authorities will no longer insist on proof of realisation of proceeds, or on payment of tax before refunds are initiated when the export is delayed, he said. Also, there won’t be any adverse action in case the order of debit on claiming refund is not followed, Singh said.

India appeals against WTO panel's ruling on Export Promotion measures

NEW DELHI: India has appealed against a World Trade Organization (WTO) dispute settlement panel's ruling that had recommended withdrawal of its key export subsidy schemes, including the one for special economic zones in the next 90-180 days.

 

On October 31, the WTO had ruled that export subsidy programmes-Merchandise Exports from India Scheme (MEIS), Export Oriented Units Scheme and sector specific schemes, including Electronics Hardware Technology Parks Scheme and Bio-Technology Parks Scheme; Export Promotion Capital Goods Scheme; and Duty-Free Imports for Exporters Scheme- violated provisions of the trade body’s norms.

Kenya risks losing port to China casting shadow over India's outreach in Eastern Africa Read more at: //economictimes.indiatimes.com/articleshow/72136046.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

NEW DELHI: Kenya risks losing the lucrative Mombasa port to China should the country fail to repay huge loans advanced by Chinese lenders in what would be a rerun of Hambantota episode in Sri Lanka casting a shadow on India's outreach in Eastern Africa.

Kenya was one of three African countries identified in a March 2018 report by the Washington-based Center for Global Development as at risk of debt distress as a result of its Belt and Road participation. The others were Egypt and Ethio ..

Read more at:
//economictimes.indiatimes.com/articleshow/72136046.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

hina is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda

hina is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda

India to start construction of Wadhavan port by 2020

November 19, 2019: Gopal Krishna, secretary, Ministry of Shipping, today announced in a CII event that the Government of India intends to develop an all-weather port at Wadhavan, 140 kilometer north to Mumbai. The construction of the port will begin in 2020 and will have nine berths for large container ships. The government wants India to be one of the top ten global container port hubs.

Krishna also said that the country is raising its ship recycling capacity by 40 percent by 2024 and wants to become a global leader in the segment.
“India aims to be a global leader in ship-recycling: capacity being raised from 5mn GT (2018, 25% of global) to 9mn GT (2024, 35-40%). Recycling of Ships Bill, 2019 will align law w international conventions: focus on the environment, worker safety,” the CII tweet reads.
Krishna also shared his thoughts on the government’s plan to develop inland waterways particularly for the northeastern region. The inland water transport fairway in the Ganges will be ready by 2020 and the Eastern Waterway Connectivity Transport Grid will give the North-East access to Nepal, Bhutan, Bangladesh and Myanmar.

World goods trade may remain below trend in Q4 2019: WTO

PARIS: The World Trade Organisation (WTO) has said the global goods trade is expected to remain below trend in the fourth quarter of the current year amid increasing protectionism and increase in customs duties. The forecast does not augur well for India as the country's exports contracted for a third month in a row in October by 1.11 per cent to USD 26.38 billion.

 

"World merchandise trade is expected to remain below trend into the fourth quarter of 2019," according to the WTO's latest Goods Trade Barometer.

 

The Goods Trade Barometer provides real time information on the trajectory of world merchandise trade volumes relative to recent trends.

It said the indices for international air freight, electronic components, and raw materials have all deteriorated further below trend.

Electronic components trade was weakest of all, possibly reflecting recent tariff hikes affecting the sector, it added.

 

In September, WTO economists downgraded their trade growth expectations for 2019 to 1.2 per cent, down from the 2.6 per cent forecast in April. They attributed this substantial deceleration to slowing economic growth, increased tariffs, Brexit-related uncertainty, and the shifting monetary policy stance in developed economies.

India's finished steel exports fall 34 % to 6.36 MT in 2018-19 : Steel Minister November 20 , 2019

NEW DELHI: India's finished steel exports dipped 33.9 per cent to 6.36 million tonne (MT) in 2018-19, amid the Government's efforts to keep the Country as the net exporter of the metal.

The Country produced 110.92 MT of crude steel during the same year, a rise of 7.6 per cent as against 103.13 MT in 2017-18, Minister of Steel Dharmendra Pradhan said in the Lok Sabha.

The Minister also said the Country exported 6.36 MT of finished steel during 2018-19, registering a fall of 33.9 per cent as compared with 9.62 MT in the previous year.

Recently, Pradhan said that in the next two-three years, India will be in a position to continue to remain the net exporter of steel for years.

"We also produce saleable steel. We sometimes become importer, sometimes we are exporter. At present, we are net importer, we are importing about 2-3 MT... Within the next two-three years, India will remain a net exporter of steel for years. There will be no import," he had said while speaking at an industry event.

ihar can ramp up exports to US $ 2 bn : Export-Import Bank of India

PATNA: Export-Import Bank of India has said Bihar was sitting on an untapped export potential worth US $ 900 million which, if harnessed judiciously, could propel the value of merchandise exports from the state to US $ 2 billion in the short term.

In the year 2017-18, the merchandise exports from the State was valued at US $ 1.35 billion, of which the major contribution came from petroleum products at 66%, followed by buffalo meat 6.1%, other grains 5.1%, non-basmati rice 5% and pharmaceutical formulations and organic material 3.7%.

Presenting the findings of a study commissioned by the industries department, at an interactive meeting with stakeholders, Export-Import Bank of India General Manager Lokesh Kumar said, “The potential is huge and opportunities are big. US $ 2 billion goal is achievable once we start believing in it and create the enabling environment.”

Textile and garment sector occupies the highest slot in the list of 81 items, identified as product champions, with 24 types of products, followed by pharmaceutical ingredients and animal products that could give a leg-up to the endeavour to expand the export basket from the State.

The study, compiled by Jahanwi Singh, Chief Manager, Export-Import Bank of India, has recommended the setting up of inland container depots (ICD), a crucial and persistent demand by local industry leaders, establishment of custom clearance office at the existing ICD facility in Patna, augmenting warehouse and cold chain infrastructure and setting up SEZs in Patna, Bhagalpur and Muzaffarpur.

Mumbai Port welcomes Four Cruise Ships November 20 , 2019

MUMBAI: In keeping, with the promotion for the Cruise shipping undertaken by Ministry of Shipping and Mumbai Port Trust, encouraging results are showing up.
For the first time, Mumbai Port have four cruise ships docked on the same day on 18.11.2019.  ‘Mein Schiff 6’ coming from Muscat, having 2500 passengers on board arrived at 5.00 a.m. ‘Karnika’ having 800 passengers arriving from Goa berthed at 6.00 a.m. ‘Silver Spirit’ arriving from Muscat with 570 passengers docked at 8.00 a.m and ‘Angriya’ arriving from Goa with 124 passengers docked at 07.00 a.m. This is a momentous occasion having four cruise ships together on the same day in Mumbai Port Trust.
With about 1700 passengers booked for departure on ‘Karnika’, 136 passengers booked for departure on ‘Angriya’ and 500 passengers on ‘Silver Spirit’, there will be in all more than 6000 passengers transiting through Mumbai Port.
Mumbai Port Trust is constructing a State of Art Cruise Terminal of international standard, having 4,00,000 sq. ft. built up area full with retails, café, shops and other leisure and entertainment provisions, besides being a terminal for International and Domestic passengers. The terminal is likely to be operational from June/July, 2020

ONE Initiates Global Marine Safety and Quality Campaign November 20 ,

SINGAPORE: Ocean Network Express (ONE) initiated a Global Marine Safety and Quality Campaign during the months of September and October 2019, to reiterate marine navigation safety practices.

A month prior to the campaign, ONE’s CEO - Jeremy Nixon, chaired a ‘Marine Safety and Quality Management Conference’ for management at ONE’s global headquarters, where critical aspects of safety and quality status for ONE’s operated vessels were discussed, and priorities determined for ONE’s product offering.

Following the conference and part of the Global Marine Safety and Quality Campaign, ONE’s management visited and inspected more than 15 operated vessels in Singapore to accentuate the importance of navigation safety. Amid the inspection, the Master and Chief Engineer were engaged to analyze further measures that could be taken on board to achieve navigation safety excellency. ONE is also rolling out management vessel visits worldwide to reinforce marine navigation safety practices at a global scale.

Together with vessel crews’ extended efforts in safe and efficient operations, ONE upholds our core values of continuous quality service delivery and reliability to our valued customers, said a company release.

Hyundai Merchant Marine joins “Getting to Zero Coalition”

SEOUL: Hyundai Merchant Marine (HMM) has recently announced its participation in “Getting to Zero Coalition,” a powerful alliance of nearly 100 organisations within various industrial sectors to achieve significant reduction of greenhouse gas (GHG) emission in the maritime industry.

“Climate change is a defining issue of our time and the scale of the environmental regulation we are facing is unprecedented. In order to ensure sustainable growth on the pathway to decarbonisation, all players need substantive reaction to the technological solution of ZEV (Zero Emission Vessel) as well as the development of carbon neutral fuels. HMM is well prepared to cooperate with relevant authorities and institutions within the Coalition,” says Jae-Hoon Bae, President & CEO of HMM.

HMM is committed to reducing carbon emission by 70% by the year 2030 compared to 2008 levels and thereby reach carbon neutrality by 2050 for its entire container fleets. HMM already reorganized R&D team to accelerate a range of research studies including the exploration of the commercial viability of hydrogen-powered system and collaboration with DSME for smart ship development.

HMM official said, “HMM’s carbon emission target is ambitious, but achievable. Along with “Getting to Zero Coalition”, HMM expects to make a better contribution to overall industry in moving towards carbon neutrality,” and added “HMM’s achievement and progress in line with its environmental roadmap can be found in the corporate sustainability report scheduled to be published next month.”

 

Gateway Distriparks registers 207% growth in Revenue, EBITDA up 247% in Q2

MUMBAI: During the quarter ended September 30, 2019, Gateway Distriparks Limited (GDL) recorded consolidated Total Income of INR. 328.6 Crores as against INR 107.1 Crores for the same period in the previous year, registering a growth of 207%. Consolidated EBITDA increased by 247% to INR 75 Crores for the Q2 current year from INR 21.6 Crores in Q2 previous year. The increase is due to the consolidation of results as GDL increased its shareholding in GatewayRail. Consequently, GatewayRail is now a subsidiary of GDL. Consolidated PBT reduced by 23% to INR 15.8 Crores from INR 20.6 Crores. Consolidated PAT before minority decreased by 1.3% to INR 17.2 Crores from INR 17.4 Crores in the corresponding quarter of the previous year.

Gateway Rail Freight Limited recorded Total Income of INR 228.5 Crores as against INR 208.5 Crores for the same period in the previous year. EBITDA increased to INR 48.2 Crores from INR 40.5 Crores. PBT increased to INR 23.2 crores from INR 22.4 Crores and PAT increased to INR 27.1 Crores from Profit of INR 19.7 Crores in the corresponding quarter of the previous year.

Snowman Logistics Limited recorded revenue of INR 59.4 crores as against INR 57.9 crores for the same period in the previous year. EBITDA increased to INR 16.1 Crores from

INR 14.5 Crores. The Company recorded a loss of INR 1.3 Crores against Profit of INR 1.2 Crores in the corresponding quarter of the previous year. The decrease is on account of higher depreciation INR (2.3) crores, as a result of impact of Ind-AS 116.

Commenting on the results, Mr. Prem Kishan Gupta, Chairman & Managing Director, said “Indian logistics sector is presently estimated to be worth around $160 billion and is poised to grow exponentially over the next two years and reach a size of $215 billion by 2020. The Government’s infallible commitment towards developing the logistic sector is visible with several transformative reforms in the sector with the proposed National logistic Policy. Initiatives like Bharatmala and Sagarmala are key steps taken in the direction towards strengthening the land and maritime infrastructure. The high-speed, freight-only Dedicated Freight Corridor Project aims at decongesting a heavily saturated road network and reducing freight transit times while opening up the development of manufacturing and industrial clusters.

He further added, “We are very buoyant and optimistic about the company’s performance and with the sale of Chandra CFS we are on track for the debt reduction strategy of the Company.”

GDL Group is an integrated Inter-Modal Logistics service provider having three verticals. It operates 7 Container Freight Stations in Nhava Sheva, Chennai, Vizag, Kochi and Krishnapatnam. GatewayRail, India’s largest private intermodal operator, provides rail transport service through it 4 Inland Container Depots (ICD) at Gurgaon, Faridabad, Ludhiana, Ahmedabad and Domestic Container Terminal (DCT) at Navi Mumbai. GDL and GatewayRail together have a capacity to handle 2.1 million TEUs per annum with 31 train sets, 500+ trailers and warehousing space of 1.73 million square feet across its 12 Container Terminals. Snowman Logistics Limited (SLL), it's third vertical, is India’s leading cold chain logistics company with Pan India presence at 31 locations in 15 cities.

Major Ports’ Turnaround time fall to 59.51 hrs from 82.32 hrs in 2 yrs : Mansukh Mandaviya

NEW DELHI: The Minister of State for Shipping (I/C) and Chemicals & Fertilizers, Shri Mansukh Mandaviya has informed the House that Government is continuously monitoring and striving to reduce the turnaround time of vessels at ports.

A Study has been conducted for benchmarking efficiency and productivity of Major Ports to bring them at par with the international standards. The study identified 116 port-wise action points out of which 93 initiatives have already been completed which resulted in reduction of turnaround time

at Major Ports from 82.32 hours in the year 2016-17 to 59.51 hours in the year 2018-19.

As far as promoting inland water transport in the Country as an economical, environment friendly supplementary mode of transport, Minister Mandaviya informed the house that 111 Inland Waterways were declared as National Waterways (Nws), namely NW-1(Ganga–Bhagirathi- Hooghly River), NW-2 (River Brahmaputra) and NW-3 (West Coast Canal from Kottapuram to Kollam) which have already developed with vessels plying on them.  In addition to this, NW-10 (River Amba), NW-68 (River Mandovi), NW-73 (River Narmada), NW-83 (Rajpuri Creek), NW-85 (Revadanda Creek-Kundalika River System), NW-91 (Shastri River-Jaigad Creek System), NW-97 (Sunderbans Waterways), NW-100 (River Tapi) and NW-111 (River Zuari) are also operational.

He also further shared that Inland Waterways Authority of India (IWAI) is implementing the Jal Marg Vikas Project (JMVP) at an estimated cost of Rs.5369.18 crore for capacity augmentation on the Haldia-Varanasi stretch of NW-1 with the technical assistance of the World Bank. Projects worth Rs.1800 crore approximately have commenced on ground in a time period of three years after statutory clearances. 

Also, fairway development works have also commenced in Vijayawada-Muktyala stretch of River Krishna (part of NW-4) at a cost of Rs.96 crore.

Coastal Shipping target increased to 230 MTPA by 2025 : Mansukah Mandaviya

NEW DELHI: The Minister of State for Shipping (I/C) and Chemicals & Fertilizers, Shri Mansukh Mandaviya has informed the House that the Government has raised the target of cargo movement through Coastal Shipping from 120 MTPA in the year 2018-19 to 230 MTPA by 2025 and has taken the below measures-Licensing relaxation under Section 406 and 407 of the Merchant Shipping Act has been extended for 5 years for specialized vessels such as RO-RO, RO-Pax, Hybrid RO-RO, Pure Car Carriers, Pure Car and Truck Carriers, LNG vessels, Over-Dimensional Cargo, project cargo vessels.
Also the same relaxation has been given to container vessels for carrying export-import containers and empty containers at transshipment ports for outbound transport; and to foreign flag vessels for carrying Agricultural, Fisheries, Horticultural and Animal Produce commodities subject to the condition that these commodities constitute at least 50% of the cargo on board the ship, while Fertilizers, subject to the condition that these commodities constitute 50% of the cargo taken on-board at the beginning of the coastal leg.
Shri Mandaviya further informed that the Coastal Berth Scheme has been extended up to March, 2020 and till date 39 projects worth Rs.1569 crore has been sanctioned. A discount of minimum 40% is offered by Major Ports on vessel and cargo related charges to vessels carrying coastal cargo. Priority berthing policy for coastal vessels has been notified to reduce turnaround time for coastal vessels and improve their utilization.
To develop a strategy and implementation roadmap for Coastal Shipping of coal and other commodities / product, Inter-Ministerial Committee (IMC) has been constituted under the Chairmanship of Chairman, Railway Board. In addition to this, a perspective plan has been prepared by Asian Development Bank for Coastal Shipping, the Minister added.
The Minister also shared various movement of major commodities, like coal & thermal coal, coking coal & other coal, iron ore, cement, Iron & Steel, Petroleum Oil & Lubricants (POL) etc. through Coastal Shipping during the last three years.

APM Terminals launches global customer alerts solution

In response to customer requests for real-time information about exceptional circumstances, or disruptions, affecting a terminal, APM Terminals, which has three container facilities in the Middle East and two more in India across the region, has launched a global customer alert system. The system enables customers to subscribe for terminal alerts via SMS or email.
Terminals will only use the alerts function for severe issues that have clear implications for customers, including labour shortages, bad weather warnings, congestion at the port or delays with customs clearance.
Where possible, the terminal will provide an estimated resolution time, links to further information sources, such as gate cameras or live vessel schedules, or when available, alternative solutions, such as extended free storage limits or longer gate opening times.
Customers who register for the service will be the first to know of any issues at the terminal, with emails and SMS messages being delivered to them directly, within a few minutes of the message being published on the website. This real-time information will give customers as much notice as possible to help them adjust their schedules or take any additional action.
According to a statement: “Registering for alerts via www.apmterminals.com/alerts takes just a couple of minutes. Customers can select from a number of options to ensure they only receive applicable alerts, such as gate, rail or vessel announcements, and choose between SMS message or email. Customers can also choose to receive alerts from one or multiple terminals.”

Kolkata facility breaks record

PSA’s Bharat Kolkata Container set a new monthly throughput record of 61,755 teu this October. During the month the facility also handled its 3 millionth teu since it started operations in November 2014.
PSA Kolkata has furthermore recently upgraded its equipment stock with the commissioning of eleven new reach stackers, both expanding its landside container handling fleet and replacing older equipment. In addition, PSA Kolkata will receive new and replacement tractor trailers by the end of the year. Trial mobile harbour crane operations have recently started at a berth previously only used for geared vessels, increasing both productivity and capacity at PSA Kolkata.
Mike Formoso, PSA India’s Managing Director, commented, “Despite global trade uncertainties and a uniquely challenging operating environment, we are pleased to continue to grow at PSA Kolkata, with the support of our stakeholders. We see strong potential for West Bengal, not only for growth as a cargo generating zone but also as a logistics gateway to neighbouring states and nations.”
PSA’s Bharat Kolkata Container Terminals is located in the riverine Kolkata Port with a 203km channel leading to the sea. The port is a gateway to the hinterland comprising eastern and north-eastern India, as well as two landlocked neighbouring countries, Nepal and Bhutan.

Landmark container shipment leaves Haldia

As part of the Indian government’s ongoing efforts aimed at improving connectivity to the North Eastern Region (NER), a landmark container cargo consignment sailed from Haldia Dock Complex (HDC) to the Inland Waterways Authority of India (IWAI) terminal at Pandu in Guwahati on 4th November this year.
MV Maheshwari transported a total of 53 teu of containers containing petrochemicals, edible oil and beverages. The 12-15 day long voyage included passages on the River Ganga, Sunderbans, the Indo-Bangladesh Protocol (IBP) route and the River Brahmaputra. This was the first ever containerised cargo movement on this particular route, although an initial consignment of containerised cargo on National Waterway-1 (NW1) – the Ganga-Bhagirathi-Hooghly river system – took place in November last year, following the opening of the new Multi Modal Terminal at Varanasi.
Traffic on NW-1 has grown from 5.48 million tonnes in 2017-18 to 6.79 million tonnes in 2018-19. Of this approximately 3.15 million tonnes is export-import traffic moving between India and Bangladesh using the IBP routes.

MV Maheshwari transported a total of 53 teu of containers on its maiden voyage

Malaysia Prohibits Open-Loop Scrubbers in Its Waters

Malaysia has decided to ban the use of open-loop exhaust gas cleaning systems (EGCS) by vessels operating in the country’s waters.
“Malaysia prohibits the discharge of washwater from EGCS open-loop system whilst in Malaysian Water (12 nautical miles from the nearest land),” Marine Department Malaysia said in a shipping notice.

“Ships calling to the Malaysian Ports are advised to change over to compliance fuel oil or change over to close loop system (if hybrid system) before entering Malaysian Waters and Ports.”
The measure comes ahead of the entry into force of the International Maritime Organization (IMO) sulphur cap on January 1, 2020. Under the new regulation, the limit for sulphur in fuel oil used on board ships operating outside designated emission control areas will be reduced to 0.5% from 3.5%. This is expected to significantly reduce the amount of sulphur oxides emanating from ships.
In order to comply with the upcoming regulations, shipowners can install scrubbers or use compliant fuels. Many shipowners have opted for open-loop scrubbers that use sea water as the process fluid and discharge the treated water overboard.

Concerned about the negative impact of wash water discharges in areas with higher vessel traffic density, some ports such as the Port of Singapore and the Port of Fujairah have banned the use of open-loop scrubbers. In addition, China has prohibited the discharge of wash water from open-loop scrubbers in coastal waters.

Contrary to the above decisions, recent studies, including the one presented by the Clean Shipping Alliance 2020, have shown that scrubbers “are effective and safe for the environment.”
World Maritime News Staff

MSC Enters into Container Services Agreement with Mwani Qatar

Mediterranean Shipping Company (MSC) and Mwani Qatar have signed a container services agreement that will see MSC use Hamad Port as a regional hub for transshipment.
As outlined, starting from January 2020, MSC will manage up to 150,000 TEUs per year at the port, growing to one million TEUs by 2023.

“The agreement between “Mwani Qatar” and MSC is part of the Ministry of Transport and Communications’ strategic plan to transform Qatar into a vibrant regional trading hub in the region,” Jassim Saif Ahmed Al Sulaiti, Minister of Transport and Communications and Board Chairman of Qatar Ports Management Company (Mwani Qatar), commented.

“The agreement also enhances the competitiveness of Qatar and Hamad Port on the regional and international maritime transport map, as it will help attract more trans-shipment containers as well as encourage more international shipping lines to add Hamad Port to their regional routes and sign similar agreements in the future.”

“The agreement also contributes to the utilization of the differential advantages of Qatar’s strategic location on international maritime trade routes and enhances Hamad’s position and role in the national economy in line with Qatar National Vision 2030,” Captain Abdullah Al Khanji, Mwani Qatar CEO, added.

Qatar Charters Two MSC Cruises Ships for FIFA World Cup 2022

Qatar has entered into an agreement with MSC Cruises for the charter of two cruise ships during the FIFA World Cup Qatar 2022.
Berthed at Doha Port, the cruise liners will offer a combined capacity of 4,000 cabins and act as floating hotels during the tournament.
Chartering cruise liners for fans has long been part of Qatar’s accommodation strategy, with the country keen to offer sustainable solutions for the month-long tournament, which will kick-off on November 21, 2022.
Under the terms of the agreement, the State of Qatar will charter MSC Cruises’ newbuild MSC Europa and the 2008-built MSC Poesia.
Scheduled for delivery in 2022, MSC Europa is currently under construction in Saint-Nazaire, France. As the first liquefied natural gas-powered ship in MSC Cruises’ fleet, she will run on this fuel while at berth in Doha.
“The Ministry of Transport and Communications has completed the development of Doha Port to accommodate multiple large passenger ships and enable the port’s capacity to receive the largest cruise ships in the world, serving fans and visitors who come to Qatar during the 2022 World Cup,” Jassim Saif Ahmed Al Sulaiti, Minister of Transports and Communications, commented.

Gasum to Use Swedegas’ Gothenburg Facility for Bunkering of LNG Ships

Finnish gas company Gasum has reached an agreement with Swedish gas grid owner Swedegas to use the latter’s facility for liquefied gas in the Port of Gothenburg for bunkering of LNG fueled vessels.
On October 24, the first bunkering operation involving the oil and chemical tanker Tern Ocean was carried out. Tern Ocean is chartered by Preem and the ship loaded its cargo simultaneously from Preem’s refinery in Gothenburg.
“For years we have bunkered LNG at the quayside from diversified delivery points in the Nordics,” Jacob Granqvist, sales director in Gasum, said.

“The benefit of the Swedegas set-up is that our customers can solve two issues at the same time, both getting fuel and handle cargo. Increased operational efficiency is important in the maritime sector and we are happy to make it possible,” he added.

As explained, Swedegas’ gas infrastructure at the jetty of the Energy Port in Gothenburg enables Gasum to broaden its services to meet the increasing LNG demand in the maritime sector. This demand comes from stricter climate and environmental goals in the sector.

The LNG facility can be used for the storage and transport of biogas. This means that vessels can bunker not only LNG but also liquefied biogas (LBG). LBG is renewable and can as well be used as vessel fuel.

LNG consumption within the global maritime sector is rising. Consumption is expected to accelerate even more rapidly, as compliance with the International Maritime Organization (IMO) 2020 sulphur regulation, which requires over 85% reduction in sulphur emissions, comes into effect next year. IMO has also set a target to reduce GHG emissions by at least 50% by 2050.

Euroseas Buys Containership Quartet

Greek ship owner and operator Euroseas has entered into agreements to acquire four secondhand 4,253 TEU containerships.
As informed, the vessels will be bought from companies controlled by Synergy Holdings Limited for about USD 40 million.

According to Euroseas, the acquisition will be financed by bank debt, existing funds of the company and USD 6 million raised in private placements. As a result of the private placements, the company will have issued approximately 8.45 million new common shares at a price of USD 0.71 per share representing about 19% of the Euroseas’ ownership after the acquisition.

Built in South Korea, the ships in question are the 2009-built Synergy Busan, the 2008-built Synergy Antwerp, the 2009-built Synergy Oakland and the 2009-built Synergy Keelung. The company will also assume the charters the vessels are currently under.

As part of the transaction, the company has agreed to acquire certain management services of Synergy Marine Limited for the next three years. Andreas Papathomas, Chairman of Synergy Holdings Limited, has joined the Board of Directors of Euroseas.

Euroseas has also agreed to issue an additional USD 0.5 million in shares of its common stock to Synergy Holdings Limited if certain conditions are fulfilled in one year.

One of the vessels was handed over to Euroseas on November 18 while the remaining three are expected to be delivered within a week subject to certain closing conditions being met.

Qatar Charters Two MSC Cruises Ships for FIFA World Cup 2022

Qatar has entered into an agreement with MSC Cruises for the charter of two cruise ships during the FIFA World Cup Qatar 2022.
Berthed at Doha Port, the cruise liners will offer a combined capacity of 4,000 cabins and act as floating hotels during the tournament.

Chartering cruise liners for fans has long been part of Qatar’s accommodation strategy, with the country keen to offer sustainable solutions for the month-long tournament, which will kick-off on November 21, 2022.

Under the terms of the agreement, the State of Qatar will charter MSC Cruises’ newbuild MSC Europa and the 2008-built MSC Poesia.

Scheduled for delivery in 2022, MSC Europa is currently under construction in Saint-Nazaire, France. As the first liquefied natural gas-powered ship in MSC Cruises’ fleet, she will run on this fuel while at berth in Doha.

“The Ministry of Transport and Communications has completed the development of Doha Port to accommodate multiple large passenger ships and enable 

the port’s capacity to receive the largest cruise ships in the world, serving fans and visitors who come to Qatar during the 2022 World Cup,” Jassim Saif Ahmed Al Sulaiti, Minister of Transports and Communications, commented.

French Prime Minister Edouard Philippe inaugurates CEVA Logistics’ new headquarters in Marseille November 18 , 2019

MARSEILLE: CEVA Logistics new global headquarters in Marseille was officially opened by the Prime Minister of France, Edouard Philippe and the President of the French Region “Sud”, Renaud Muselier accompanied by CEVA’s CEO, Nicolas Sartini, and Rodolphe Saadé, Chairman and CEO, CMA CGM Group.

 

Following a guided tour of the offices where they met with some of the 170 executives based in the company headquarters, they were shown how digital projects developed by the teams in Marseille will help transform the way CEVA operates.

 

Amongst the many digital transformation projects developed in Marseille, the Prime Minister was shown a digital platform that will display the carbon footprint of customer supply chains by mode of transportation. The platform, developed in partnership with startups housed in ZEBOX, the incubator created by Rodolphe Saadé, will leverage the efficiency of delivery options in the best interests of customers and the environment. The collaboration with Wing, a young French company, offering new urban logistics solutions for e-Merchants, was also discussed.

 

In his speech, the Prime Minister highlighted the role of the logistics sector, “Our Country does not sufficiently understand the importance of the supply chain, the importance of well-organized flows. I think we must defend this sector which represents a lot of jobs, strategic and economic issues, especially for a city and a port like Marseille. Intelligence in logistics is at the heart of tomorrow’s economic development.”

 

The Region “Sud” confirmed its full support of CEVA Logistics by announcing 1.5 million Euros for digital development of innovative projects aimed at transforming the customer experience.

 

 

With its new location in France, CEVA Logistics will bring additional capacities to the country’s economic development. Locally-based companies will additionally benefit from CEVA’s knowhow and presence across 800 locations worldwide During the event, Nicolas Sartini CEVA’s CEO said: “It’s an honor to welcome the Prime Minister and have him officially open our new global headquarters. These offices are at the heart of everything we are doing and the teams based here play a pivotal role in CEVA’s future. We are delighted to have been able to showcase some of the new technology projects being developed that will fundamentally change how we operate.”

 

MSME share in exports should rise to 60%: Nitin Gadkari

NEW DELHI: Micro, small and medium enterprises (MSMEs) in the Country must understand the needs of the foreign market and design their products accordingly to be able to increase the sector’s share in India's exports to around 60%, Union Minister of MSMEs Nitin Gadkari said. Currently, MSME’s contribute around 49% to the Country’s exports.

 

“We have a target that at least 60% of our export from MSME," Gadkari said at the inauguration of the 39th Indian International Trade Fair here.

 

Gadkari said that entrepreneurs must identify resources in each State of the Country and exploit their potential in accordance with the preference of foreign markets. “We need interaction with different countries to understand what they want, on the basis of that we need to accelerate our manufacturing activity,” Gadkari said.

 

For MSMEs to be able to sell in the international market, it is essential that the cost of production—largely linked with costs of power, logistics and capital— comes down, Gadkari said.

 

Gadkari said that the Government is constantly working to facilitate this reduction in cost of production in the Country.

Multilateral institutions like the World Bank and ADB have agreed to extend line of credit to the sector, Gadkari said.

A.P. Moller - Maersk improves Operational profitability November 18 , 2019

COPENHAGEN: A.P. Moller – Maersk’s third quarter is characterised by improved profitability across the business. Earnings before interest, tax, depreciation and amortization (EBITDA) improved 14% to USD 1.7bn in the quarter, reflecting an increase in EBITDA margin to 16.5%. Revenue decreased slightly by 0.9% to USD 10.1bn. Operating cash flow increased by 25% to USD 1.7bn with a cash conversion ratio of 105% and free cash flow before capitalized lease payments was USD 1.5bn.

 

“While the Global Container demand, as expected, was lower in Q3 due to weaker growth in the global economy, A.P. Moller - Maersk continued to improve the operating results. We delivered strong free cash flow and a return on invested capital of 6.4% as a result of strong operational performance in Ocean, higher margins in Terminals and solid earnings progress in Logistics & Services,” says Søren Skou, 

CEO of A.P. Moller - Maersk, and continues:“The strong performance for the quarter combined with our expectations for the rest of the year, led to the recent upgrade of our earnings expectations for 2019. We will continue our focus on profitability and free cash flow in Q4 and into 2020.”

 

EBITDA in Ocean improved 13% to USD 1.3bn and EBITDA margin increased to 17.4%, reflecting the focus on profitability through capacity management and operational performance which mitigated lower freight rates and modest volume growth in Q3 of 2.1%. Revenue was USD 7.3 which is on par with Q3 last year.

 

Terminals & Towage reported an increase in EBITDA to USD 313m and an increase in revenue of 5.8% to USD 986m in the third quarter. In gateway terminals, the increase in EBITDA of 33% to USD 261m and a margin of 31.7%, was driven by a volume growth of 9.2%, which contributed to higher utilization, combined with stronger cost efficiency.

 

Logistics & Services progressed with gross profit up 13% to USD 336m following increased activities in intermodal and warehousing & distribution, however partly offset by lower revenue in air and sea freight forwarding. The improved gross profit lead to an increase in EBITDA of 34% to USD 94m and an EBITDA margin of 5.8% and an EBIT conversion ratio of 17.5%.

Net interest-bearing debt decreased further to USD 12.1bn at the end of Q3 (USD 12.9bn at end Q2 2019) after buying back shares of USD 363m as part of the share buy-back programme announced in May 2019.

 

Solid progress despite market uncertainties As part of the strategic target to become more balanced in earnings between the Ocean and non-Ocean partly through cross-selling of end-to-end and digital services, Maersk continues to develop products and services for customers, resulting in high customer satisfaction.

 

“I am pleased with the progress on the transformation of  A.P. Moller - Maersk. We are making progress across multiple fronts including our digital transformation and growth in our land-based logistics products and terminals business,” says Skou. Looking at the measurements of the development in the transformation this quarter, Maersk reports a cash return on invested capital improvement (CROIC) of 13.4% in Q3 from 9.0% in the same period last year.

 

Furthermore, non-Ocean revenue increased 3.7% in Q3 2019, driven by strong growth in the gateway terminals and growth within the strategic integrated parts of Logistics & Services such as intermodal and warehousing. The improved profitability led to an increase in return on invested capital (ROIC) to 6.4% from negative 0.2% in the same quarter last year.

 

We still need to improve on profitability and return, and we continue to take measures across the business to fund the next stages of the transformation and maintain cost leadership. Guidance for 2019 As announced on 21 October 2019, A.P. Moller - Maersk now expects EBITDA for 2019 in the range of USD 5.4 – 5.8bn, from the previously communicated USD 5bn range.

 

The organic volume growth in Ocean is now expected to be slightly below the estimated average market growth, which is now expected to be in the range of 1-2% for 2019 compared to previously an expected market growth of 1-3%. Guidance is maintained on gross capital expenditures (CAPEX) of around USD 2.2bn and a high cash conversion (cash flow from operations compared with EBITDA).

CAPEX for 2020-2021 accumulated for the two years is expected to be USD 3-4bn.

 

The guidance continues to be subject to uncertainties due to the weaker macroeconomic conditions and other external factors impacting container freight rates, bunker prices and foreign exchange rates, said a company release.