CargoSmart: Schedule Reliability rises in Q3 2019 November 04 , 2019

HONG KONG: The overall ocean schedule reliability for the third quarter of 2019 was 75.7%, slightly higher than in the second quarter of the year, according to intelligence provider CargoSmart.

 

The peak of on-time schedule reliability was 80.2% in July 2019. It then dropped to 73.8% in August and remained at a similar level at 73.1% in September 2019.

 

Comparing 2019 and 2018, the monthly reliability was higher and fluctuated less in the third quarter of 2019 compared to the same period a year earlier.

 

When looking at the schedule reliability on 25 trade lanes, CargoSmart said that Intra Middle East, Europe-Middle East, and Intra South America had the highest schedule reliability in the quarter, with average reliability of 93.1%, 89.1%, and 88.6% respectively.

 

When comparing the schedule reliability to the second quarter of the year, 13 of the 25 trade lanes decreased. The Intra Europe, Europe-Middle East, and Intra North America had the biggest increases, while Africa-North America, Africa-Middle East, and North America-Oceania dropped the most with Intra Africa continuing to have the lowest quarterly reliability.

Need to diversify Service exports to reduce dependency on IT exports: Piyush Goyal

NEW DELHI: There is a need to accelerate export growth to reach the export target of US 1 trillion in the next 5 years and the Report of the High-Level Advisory Group shows the way in which this goal can be achieved. This was stated by Mr Piyush Goyal, Hon'ble Minister for Commerce & Industry and Railways, Government of India at a Session to Release of the High-Level Advisory Group Report. The session was organized by the Confederation of Indian Industry (CII) in cooperation with the Department of Commerce, Ministry of Commerce and the Centre for WTO Studies in New Delhi.

 

The Minister stated that there was a need to look at the ways addressing the high cost of capital and the high taxation levels in the Indian Economy. He noted that the Government had already acted upon the latter based on the Group's interim report and the Finance Ministry had reduced the corporate tax rates.

 

The Minister also highlighted the need to diversify India's service exports so that we were not always dependent on IT / BPO exports. In addition, he stated that the fear of FTA's needs to go and India needs to negotiate FTAs as a win-win situation for both sides. He stated that there was also a need to promote manufacturing in the Country and develop economies of scale.

 

Dr Surjit Bhalla, Executive Director - Designate for India to IMF & Chairman, HLAG stated that India had missed the path to accelerate exports growth in the past and the recommendations of the report were designed to ensure that we did not miss this opportunity again. He also stated that India's strength lay in the Financial Sector and there was a tremendous opportunity to increase our exports of financial services.

Mumbai Port Trust lights up the Gateway of India on 31st October 2019 to spread the message “Integrity – A Way of Life” on occasion of Vigilance Awa

Mumbai Port Trust lights up the Gateway of India on 31st October 2019 to spread the message “Integrity – A Way of Life” on occasion of Vigilance Awareness Week 2019.

Sea Cargo Manifest & Transhipment Regulations deferred to 16th Feb 2020 November 04 , 2019

NEW DELHI: The implementation date of the Sea Cargo Manifest and Transhipment Regulations 2018 (SCMT) has been postponed for a further period of 3 months, it is learnt.

 

As per Notification No. 78 /2019-Customs (N.T.) issued by the Union Ministry of Finance, Government of India, the implementation date of India Sea Cargo Manifest & Transhipment Regulations has now been further deferred to February 16, 2020.

MSC creates Mobile Game to raise awareness on sustainability in Shipping

GENEVA: MSC is pleased to announce the launch of a first-of-its-kind shipping game: The Sea Rider, said a recent release from the company.

Available on the Apple Store (for iOS) or Google Play (for Android) for everybody, the game provides fun, engaging entertainment for the users, who can navigate a giant container ship, collect coins and gather points.

While featuring MSC’s green fleet including some of the World’s Largest Container Ships and the actual MSC Global Network of some 200 ocean services worldwide, the game also provides insights into MSC’s environmental performance and sustainability approach.

Users will not only learn about some of the company’s activities around preserving the environment, but practically they will have to sling the ship from one port to another while minimising the environmental impact. This might include adapting the vessel speed, or avoiding whales.

Conducting shipping operations in a sustainable, ethical way MSC is a responsible company with a longstanding nautical heritage and passion for the sea. As an active member of the United Nations Global Compact, and supporter of the UN’s 2030 Agenda for Sustainable Development, MSC is pleased to introduce The Sea Rider game as a way to raise awareness on the importance 

of conducting container shipping operations in a sustainable way.

Recently, the company published its 2018 MSC’s Sustainability Report highlighting some key achievements from various companies in the MSC Group. To download a copy, please go to msc.com/sustainability.

FreightBro becomes the first Indian Logistics Startup to join Digital Hub Logistics Hamburg

MUMBAI: FreightBro, India’s first freight forwarder facing digital platform that digitizes operations for Freight Forwarders, became the first Indian startup to join the Digital Hub Logistics Hamburg in an exclusive event titled ‘Digital Hub Logistics Hamburg Roadshow - An Indo-German Logistics Startups Connect.’ Organised by FreightBro, the event focused on the importance and the success of building a digital logistics ecosystem in Germany and the potential of replicating similar ecosystem based models in India.

 

Johannes Berg, Managing Director, Digital Hub Logistics Hamburg, was of the opinion that, “There is immense potential for partnership and expansion opportunities for Indian startups in Germany. We have collaborated with an Indian startup for the first time and introduced FreightBro to one of our hub partners, DAKOSY who are keen on working on Indo-German synergies. We eagerly look forward to further connect Indian startups to hub partners in Germany and connect German startups with the Indian market. We are grateful to FreightBro for organizing a unique event for us in India and enable us to connect with startups which has been immensely satisfying.”

 

Mohammed Zakkiria A, Co-Founder, FreightBro, said, “Joining hands with Digital Hub is a strategically sound decision for us  and is the perfect platform for us to connect with the right partners in Germany and plan future expansion in the European market.” After the recently established partnership with Port of Wilhelmshaven, this collaboration with Digital Hub Logistics, Hamburg comes as a significant step ahead in strengthening FreightBro’s Indo-German ties and establishing a footprint in the European logistics hub, said a release.

Threat to growth in Global Container Port throughput at highest level ever says a report

LONDON: Container terminal operators are facing higher risks than at any time in the industry’s history, according to a new report.

And Container Terminals: Paths to Profitability suggests future investment by operators and investors will need to be more carefully considered than ever before.

The report by industry veterans Remco Stenvert and Andrew Penfold says many of the risks the industry faces are “beyond the control of operators”.

“The container port and terminal business faces greater uncertainties now than at any time since the container revolution started in the late 1970s,” it says.

 

“These represent systemic and intrinsic risks that could dramatically impact the outlook for port demand, profitability and investment in the next 10 years. “All investments need to take a clear view on these risks, the days when expanding container demand could be relied upon to save marginal projects have passed,” the authors write.

 

The study outlines a range of external factors – the retreat of globalisation in the face of rising protectionism; the growing financial instability since 2009, with most growth since the financial crisis funded by mounting levels of debt; a structural change in the nature of demand with many developed economies now effectively reaching peak container throughput; the challenge of near-sourcing strategies; the technological challenges posed by blockchain and 3D printing; and mounting environmental – that port operators have no control over, but yet need to take into account when planning new projects.

 

But there is also a long list of factors internal to the shipping and terminal industry with which many are already acquainted – shipping overcapacity and under-utilisation; alliance instability, which increases in terms of risk as volume growth slows; shipping line terminal investment, which is increasingly in the minds of terminal operators independent of carrier involvement; the pressure of ever large vessel sizes; terminal overcapacity in some regions; and finally the potential for the industry to be disrupted by new operators altogether.