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.