India exploring trade agreements with USA & EU; FTAs with Japan, Korea & ASEAN being reviewed says Piyush Goyal

NEW DELHI: Union Minister of Commerce and Industry & Railways Piyush Goyal assured that India will never finalize any trade agreement in a hurry. During trade negotiations the focus will be on India first said the Minister while addressing a press conference, on the decision taken by India on the Regional Comprehensive Economic Partnership (RCEP), in New Delhi.

 

He said that India’s economic interests and national priorities come first and the concerns of the farmers, dairy sector, MSMEs and domestic manufacturing will be addressed and these sectors will be protected. Commerce and Industry Minister informed that throughout the seven year long negotiations in RCEP India has consistently stood its ground to uphold its demands particularly over controlling trade deficit, stronger protection against unfair imports and better market opportunities for Indian goods and services. The opening up of the Indian market must be matched by openings in areas where our businesses can benefit and India will not allow its market to become a dumping ground for goods from other countries said the Minister.

 

Commerce and Industry Minister further informed that the Free Trade Agreements (FTAs) with Japan, South Korea and ASEAN countries are being reviewed. The review of the FTA with South Korea, which began 3 years back, is being fast tracked. He further informed that India has already secured agreement in ASEAN for a review of the FTA and a Joint Working Group (JWG) is discussing the issues to be addressed in Japan FTA.

 

Replying to questions Commerce and Industry Minister informed that at present India is exploring trade agreements with the USA and European Union, where Indian industry and services will be competitive and benefit from access to large developed markets.

Maersk to pilot a battery system to improve power production

COPENHAGEN: 

A containerized 600 kWh marine battery system will be installed in a trial on board the Maersk Cape Town in December 2019 to improve vessel performance and reliability while reducing CO2 emissions.

“This trial will provide a greater understanding of energy storage that will support Maersk in moving towards further electrification of its fleet and port terminals. Maersk will continue to facilitate, test, and develop low-carbon solutions on our journey to become carbon neutral by 2050,” explains Søren Toft, Maersk COO.

Propelling marine vessels with battery power alone is still years away from being a technically- and economically viable option. However marine battery systems can be used to improve the efficiency of a vessel’s onboard electrical systems such as the Maersk Cape Town’s generators. By maintaining the vessel’s auxiliary generators at a more optimal load, and avoiding running generators when not needed, overall fuel consumption can be reduced.

Additionally, it will support the generators with up to 

1,800 kVA of power during rapid changes in electrical load such as thruster operation. This can reduce generator maintenance requirements. The battery system is also capable of providing redundant power, which can improve reliability at sea by ensuring continuous power supply.

The Maersk Cape Town includes a waste heat recovery system, which is a special feature of many Maersk container vessels. This system increases overall efficiency, as it allows the batteries to charge by capturing electrical energy from heat that would otherwise have been lost out of the exhaust gas system for the main propulsion.

 

“This exciting pilot – the first of its kind in the industry - will show the potential of battery technologies to keep improving the performance of our vessels while also reducing fuel consumption in our non-propulsion electrical systems,” reinforces Ole Graa, Maersk Head of Fleet Technology.

 

The containerized battery energy storage system has been manufactured in Odense, Denmark by the system integrator and turnkey supplier Trident Maritime Systems. The battery system will be shortly transported to Singapore and installed on board the Maersk Cape Town.

The vessel is a Singapore-flagged 249-meter long container ship built in 2011 which sails between West Africa and East Asia. The first full voyage with the new system in place will take place next year and will be closely monitored to evaluate the performance of the system against the trial’s ambitions.

 

Battery modules will be operating within the container in conjunction with other electrical and control components. Maersk has also worked in close collaboration with the American Bureau of Shipping - the vessel’s classification society – to ensure safety and compliance.

The application of battery technology and the understandings gained can enable further innovation across A.P.Moller- Maersk. We have an interest in working with suppliers to grow these possibilities as the technology matures.

DP World’s Joint Venture wins concession for Berths 11 & 12 of Port 2000 in Le Havre November 07 , 2019

DUBAI: The joint venture between DP World, the leading enabler of global trade and the France-based international container operator Terminal Link - PortSynergy Group (GMP) - has been awarded the service concession for the construction and operation of berths 11 and 

12 at Port 2000 in Le Havre.

 

The terminals of Port 2000 in Le Havre are trade-enabling gateways for cargo entering the French consumer markets. Recognising the strategic importance of Port 2000, GMP has been an early supporter of port development and looks to grow its partnership with the Port of Le Havre by developing the terminal further. GMP will now invest in two new container berths spanning across 700 metres.

The favourable decision by the Supervisory Board of the Port of Le Havre will allow GMP to strengthen its presence in France, at the same time supporting the economic growth of the region. In 2018, GMP posted market-leading growth of 11% compared to 2017, representing more than 55% of market share through its two terminals (Terminal de France and North Terminals).

 

The new terminal represents an additional operational capacity of 1 million TEUs and will include a 700-meter-long quay and a 42-hectare site. The concession agreement is for a term of 34 years, including two years of studies and design, two years of civil engineering work and 30 years of operation. GMP will make significant investments in the development of this new terminal, modernising it to better support trade growth.

 

The new berths are envisaged to include new state-of-the-art equipment to service large container vessels, creating a terminal with smarter trade-enabling solutions to increase productivity and greatly enhance its service capability and quality including a 35-hectares stacking area, a direct rail access into the hinterland and a 7-hectare area dedicated to buildings and operating infrastructures.

 

Louis Jonquiere, Managing Director of GMP, said: "The signing marks a new chapter in our partnership with the Port of Le Havre. The addition of the two new berths will enable us to secure more volume and provide high-efficiency services. As a major hub port, the expansion in the terminal will facilitate the capture of more volume from the trade, benefitting from the momentum that has built in the region".

 

He continued : "We aim to enable smarter trade and create a much stronger economic engine for the national and regional market. By investing further in the terminal, GMP is driving economic development for the region and generating career opportunities for the local population."

Mumbai Port observes Vigilance Awareness Week- 2019 November 07 , 2019

MUMBAI: Mumbai Port Trust (MbPT) observed Vigilance Awareness Week - 2019 from 28th October to 2nd November 2019 with the theme “Integrity – A Way of Life”. The week started by taking Integrity Pledge by the employees. As a part of Vigilance Awareness Week, MbPT conducted various activities such as Walkathon, Street Plays, workshops, meetings with customers / vendors/contractors, Elocution, Drawing/ caricature/ poster/ rangoli competitions for the employees and their family members for spreading awareness on the vigilance theme. 

MbPT had also organized elocution competition /Poster competition amongst the students of three schools and three colleges to sensitize the youth on corruption and its ill effects and to promote and inculcate integrity as a way of their life. 

 

MbPT organized a talk by Shri Banibrata Bhattacharya, Principal Chief Commissioner of Customs, Mumbai Zone-I, which was presided over by 

Shri Sanjay Bhatia, IAS, Chairman and attended by Shri Shishir Srivastava, IRS, Chief Vigilance Officer, Shri Yashodhan Wanage, IRS, Dy. Chairman and Senior Officers of MbPT. The main attraction of this year’s Vigilance Awareness week was lighting up the Gateway of India on 31.10.2019 by MbPT displaying the messages based on the theme of Vigilance Awareness Week 2019. 

Gopal Krishna flags off 1st Containerised cargo from HALDIA (NW-1) to PANDU (NW-2) through INDO-BANGLADESH Protocol Route November 07 , 2019

KOLKATA: In line with Government's focus on improving connectivity to the North Eastern Region (NER), a landmark Container Cargo consignment to sail on inland waterways from Haldia Dock Complex (HDC) to Pandu, Guwahati, the Inland Waterways Authority of India (IWAI) terminal, on 4th November, 2019.

 

Shri Gopal Krishna, Secretary (Shipping) flagged off the sailing-vessel, M Y Maheshwari via a video conference from Deep Bhawan at Taratolla. This vessel will carry 53 TEUs (containers) of petrochemicals, edible oil and beverage. The 12-15 days voyage will be an integrated IWT movement via National Waterway- l (river Ganga), NW-97 (Sunderbans), Indo-Bangladesh Protocol(IBP) route and NW-2(river Brahmaputra). He said, this is the first ever containerised cargo movement on this Inland Water Transport (IWT) route. The 1425km long movement is expected to establish the technical and commercial viability of IWT mode using these multiple waterways even as a series of pilot movements are planned on the stretch. Shri Krishna also said that the latest IWT movement is aimed at providing a fillip to North East Region's industrial development by opening up an alternate route for transportation of raw material and finished goods.

 

The Protocol on Inland Water Transit and Tracie (PIWTT) between India and Bangladesh allows mutually beneficial arrangements for the use of their waterways for movement of goods between the two countries by vessels of both countries. The IBP route extends from Kolkata (India) on NW-1 to Silghat (Assam) on NW-2 (River Brahmaputra) and Karimganj (Assam) on NW-16 (River Barak). Two stretches of Bangladesh inland waterways viz, Sirajganj-Daikhawa and Ashuganj-Zakiganj on the IBP route are being developed at a total cost of Rs 305.84 Cr. on 80:20 cost sharing basis (80% being borne by India & 20% by Bangladesh). The development of these two stretches is expected to provide seamless navigation to and from North East India through waterways via the IBP route. The contracts for dredging on the two stretches have been awarded for achieving and maintaining requisite depth.

India gains $755 mn in additional exports to US due to trade war: UNCTAD

GENEVA: India gained about $755 million in additional exports, mainly of chemicals, metals and ore, to the US in the first half of 2019 due to the trade diversion effects of Washington's tariff war with China, a study by the UN trade and investment body has said.

The study, Trade and trade diversion effects of United States tariffs on China, shows that the ongoing US-China trade war has resulted in a sharp decline in bilateral trade, higher prices for consumers and trade diversion effects - increased imports from countries not directly involved in the trade war.

 

The study puts the trade diversion effects of the US-China tariff war for the first half of 2019 at about $21 billion, implying that the amount of net trade losses corresponds to about $14 billion. The US tariffs on China have made other players more competitive in the US market and led to a trade diversion effect. These trade diversion effects have brought substantial benefits for Taiwan (province of China), Mexico and the European Union.

 

"Trade diversion benefits to Korea, Canada and India were smaller but still substantial, ranging from $0.9 billion to $1.5 billion," it said. The remainder of the benefits were largely to the advantage of other South East Asian countries.

 

The US tariffs on China resulted in India gaining $755 million in additional exports to the US in the first half of 2019 by selling more chemicals ($243 million), metals and ore ($181 million), electrical machinery ($83 million) and various machinery ($68 million) as well as increased exports in areas such as agri-food, furniture, office machinery, precision instruments, textiles and apparel and transport equipment, UNCTAD said.

 

The analysis shows that US tariffs caused a 25 per cent export loss, inflicting a $35 billion blow to Chinese exports in the US market for tariffed goods in the first half of 2019. This figure also shows the competitiveness of Chinese firms which, despite the substantial tariffs, maintained 75 per cent of their exports to the US.

NMPT adds heli-tourism as cruise season begins November 06 , 2019

MANGALORE: With the beginning of this year’s cruise season on 4th November, the New Mangalore Port Trust (NMPT) also began Country’s first port-based heli-tourism initiative.

 

Aida Vita, a Panama Flag vessel called on NMP with 1,154 guests recently marking the beginning of the cruise season in Mangaluru. 

Around 400 of them disembarked for sight-seeing, said Port Chairman A.V. Ramana.

 

While the port had been facilitating transport services — autorickshaw, taxi and buses — for guests, this year NMP facilitated heli-tourism too. Chipsan Aviation Pvt. Ltd. deployed a six-seater helicopter to ferry tourists to Bekal Fort near Kasaragod in Kerala, Sringeri, Chikkamagaluru, Dharmasthala, Belur, Halebid, etc. “Given the present road conditions and the distance to these places, heli-tourism was the best option for international tourists to catch a glimpse of Karnataka. 

 

Any aviation company with DGCA certification can provide the service and NMPT will facilitate their operation. 

 

For the next cruise vessel calling on November 12, there are 16 confirmed bookings,” Mr. Ramana told.