Unifeeder acquires the Feedertech Group

AARHUS N: Unifeeder has acquired a 77% stake in The Feedertech Group, a Singapore-based feeder and shortsea operator. The Group’s Chairman, Ali Maghami, will retain the remaining 23% shareholding.

Established in 2003, the Group operates two companies; Feedertech, which is a feedering service and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia-Middle East via the Indian Subcontinent. The Group generates annual revenue of close to $200m from a diversified customer mix, calls at 50 ports and transports over 600k TEU annually.

 “The Feedertech Group has enjoyed great success over the years and we are proud of our achievements.

We believe the transaction with Unifeeder, and the support of DP World, will allow us to take the business to the next stage of its growth. Both Feedertech and Unifeeder share similar business models and a desire to reduce inefficiencies, and by combining the expertise of the two entities, we believe we can deliver a high-quality product for our customers. Furthermore, being part of the

DP World family will allow us to benefit from their deep relationship with end-customers and a wide global network. We look forward to a prosperous future together,’’ says Ali Maghami.

Through Feedertech and Perma, Unifeeder will now have the capability to offer feedering and regional shortsea connectivity in Europe, the Mediterranean, North Africa, Asia, the Middle East, and the Indian Subcontinent. Moreover, the expansion will increase Unifeeder’s logistics capabilities and facilitate integrated services that engage end-customers and traders in line with the strategic ambition of the company’s parent, the DP World Group. It also enables opportunities in the fast-growing coastal shortsea trade on the Indian Subcontinent, complementing the existing India logistics strategy of DP World.

This is yet another strategic step in our vision to build a global presence, offer a broader network of solutions to customers and leverage the way we engage with them to create the most comprehensive and integrated solutions across multiple geographies. We are excited to be joining forces with a company that operates on the same values as us. Feedertech’s asset-light business model and approach to preserve the common-user independent platform that focuses on flexibility, reliability and providing sustainable logistics solutions, made it a clear fit for Unifeeder,’’ says Jesper Kristensen, CEO of Unifeeder.

The deal is expected to close year end.

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.