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n Price: Rs. 5/-

CLIMACTIVE by CMA CGM, the latest Reefer technology Dear readers please note there will be no issue of BSN on Thursday, 13th September 2018 due to start of auspicious Ganesh Chaturthi celebrations.

CLIMACTIVE is the latest and most advanced solution to maintain sensitive commodities’ freshness to destination, by faster reducing the level of oxygen inside the container equipped with DAIKIN Active CA. 2

Vol. XVII-No. 43 n Mumbai, Monday, 10 September 2018 to 16 September 2018 www.bhandarkarpublications.com

Water taxi services beckons Mumbai; to begin in 2-3 months: MbPT Chairman

DPT contributed Rs. 33.13 lakhs for Kerala’s floodaffected people n BSN Network / Kandla On the appeal of the Chief Minister of Kerala to contribute to the Chief Minister’s Distress Relief Fund for rebuilding the lives of flood-affected people of Kerala, 2314 Nos. of officers, employees and workers of the Deendayal Port Trust came forward and offered one-day salary & wages for this noble cause. Accordingly, the Port Administration accepted their request and recovered their contributions from the salary

n BSN Network /

& wages of August, 2018. A n amount of Rs. 33,13,570/(Rupees thirty-three lakhs thirteen thousand five hundred seventy only) has been collected from the officers, employees and workers of the Deendayal Port Trust; and remitted by way of Cheque to the Chief Minister’s Distress Relief Fund. The Port Administration appreciates the gesture shown by the Port employees & workers for this noble cause.

IRCON International Limited: Initial Public Offer to open on September 17, 2018 and to close on September 19, 2018 See pg.5

Mumbai With Indian c o n s u m e r increasingly become aspirational and experimental, Mumbai Port has embarked upon giving him global experience in its own back yard by replacing cargo movement

with cruise vessels and launching water taxis. Speaking on Day 1 of the Indian Retail Forum organized by Reed Exhibitions, Sanjay Bhatia, Chairman of Mumbai Port Trust said, “We are following Miami by shifting cargo and replacing it with cruise services at our port. Contd. on page 2


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Mumbai, Monday, 10 September 2018 to 16 September 2018

BHANDARKAR SHIPPING NEWS

OUTLOOK FOR APPAREL Worst for India’s apparel exports over – may remain subdued in near-term

THE TRUMP TROUBLE

Shipping giants cautious about the growing trade war While we were waiting for greenshoots, there is another trouble looming. The USChina trade war. The Baltic Dry Index that measures shipping rates for vessels that carry bulk commodities, such as grain and coal, has been riding high – up nearly 80 per cent since April, when trade tensions were building, ending in the first US tariffs going into effect on July 6. In fact, the index hit a 52-week high this month, as a second round of tariffs hit. In addition, executives of several shipping giants reporting earnings in the past two weeks have declared that, while they are cautious about the growing trade war, they so far have not needed to batten down the hatches. However, concern that shipping operators could be thrown off keel could grow as US President Donald Trump plans to move forward with tariffs on another US$200 billion of Chinese goods as early as next week, as reported by Bloomberg on Thursday. And Trump recently said he has “no time frame” for ending the dispute. Meanwhile, Trump’s campaign against what he sees as unfair global trade policies has spilled over to other countries, prompting retaliatory tariffs by the European Union on American whiskey and Harley-Davidson motorcycles as the US has placed new levies on foreign-made steel and aluminium and threatened tariffs on automobiles made by overseas car makers. The global shipping industry transported US$2.19 trillion worth of products to the United States in 2016, with nearly half of all goods imported to America coming by boat, according to the US Bureau of Transportation Statistics. China is by far America’s largest trading partner, sending some US$505 billion in goods to the US last year, according to the US Census Bureau. Those who could feel the pinch in the second half of the year include the stateowned China’s Cosco Shipping Holdings, the Danish shipping line A.P. Moller-Maersk and Nippon Yusen Kabushiki Kaisha of Japan. But industry players and analysts say there is reason to hope that the global shipping industry – built around shipping lines, port operators and manufacturers of vessels and cargo containers – can largely sail past the trade wars. Goods will still be shipped between China and the US, with consumers carrying the cost of higher prices, not the shippers. And if higher prices reduce demand, sending buyers scrambling for other sources for their goods, such as Southeast Asia, shippers will still be needed to haul the cargo. Some even think that the trade wars could increase shipping business by forcing buyers of products to use inefficient routes to try to get around the tariffs or get new sources. “The impact of these tariffs on global trade is uncertain and depends on how much of the resulting price increase is absorbed by consumers, how much the US and its trading partners can diversify their imports, and the

n BSN Network / New Delhi India’s apparel exports are likely to remain subdued in the near term, even as the worst appears to be over. With the base effect setting in, ICRA expects India’s apparel exports to grow at a modest pace of 1-2% Y-o-Y for the rest of FY2019, vis-a-vis a sharp de-growth of 14% Y-o-Y in 4M FY2019. As this would still mean a 4% Y-o-Y decline in the country’s apparel exports in FY2019, it is expected to be the fourth consecutive weak year for India’s apparel exports, following the 4% de-growth in FY2018 and modest growth rates of 1% and 3% in FY2016 and FY2017 respectively. India’s apparel exports have exhibited

an unencouraging trend, with a marginal de-growth of 1% in FY2018 as well as 4M FY2019, even after adjusting for apparel exports to the UAE, which have declined inexplicably and sharply over the past one year. Commenting on the subdued industry trend, Mr. Jayanta Roy, Senior VicePresident and Group Head, ICRA, says, “With several internal as well as external headwinds, the past year turned out to be rather challenging for India’s apparel exporters. Transition to the new taxation regime, besides posing liquidity challenges for the industry, added to uncertainties because of alternating stances on export incentives during the year. Contd. on page 17

CLIMACTIVE by CMA CGM, the latest Reefer technology n Agencies CLIMACTIVE is the latest and most advanced solution to maintain sensitive commodities’ freshness to destination, by faster reducing the level of oxygen inside the container equipped with DAIKIN Active CA. CLIMACTIVE is created for highly sensitive commodities that require special attention due to their biological specificities and maturation time. It specifically targets: l high added value products, l long transit time products, l organic products. This technology allows businesses to optimize their competitive attractiveness by maintaining the products’ freshness up to final destination, preventing the maturation process, extend their shelf life and preserve the products’ quality attributes. It also allows businesses to expand by reaching further destinations and target news markets. CLIMACTIVE finally allows businesses to maintain their products’ organic label. CLIMACTIVE allows to reach the optimal level of O2 and CO2 much faster. A nitrogen pump creates a real barrier against oxygen infiltration, protecting the cargo from excessive ripening. Temperature, humidity and balance between gases are also very precisely regulated, allowing an optimal preservation and protection of highlysensitive commodities. The CMA CGM Group is the 2nd largest refrigerated container carrier in broader effects on business confidence, investment, and supply chains,” Maersk said as part of its second-quarter results announcement. Maersk said its US container imports from China could be reduced by up to 4 per cent if the trade war escalates, while Chinese container imports of US goods might be reduced by up to 6 per cent. That is alarming. Indeed, the outlook is further muddied.

the world. Thanks to its fleet of 385,000 TEUs of Reefer containers and 288,000 Reefer plugs, CMA CGM offers transport solutions for all sensitive cargo requiring refrigerated transportation in order to exceed customers’ expectations. With an organization dedicated to Reefers and a network of experts in over 160 countries, CMA CGM is a global Reefer partner with local expertise in refrigerated transport. “Following the launch of the REEFLEX innovation, CMA CGM continues upgrading its Reefer range to better meet customers’ needs and acquire new markets. By introducing CLIMACTIVE, an additional technology is now available for the most sensitive commodities in CMA CGM’s Controlled Atmosphere offer. CMA CGM testifies again the importance of customer centricity and its ability to remain equipped with the latest innovative technologies” declared Eric Legros, Vice-President, Specialized Products and Value Added Services.

Water taxi services beckons Mumbai; to begin in 2-3 months: MbPT Chairman Contd. from page 1 Last year we had 40 cruises calling at our port and with four dedicated berths planned for cruise vessels we hope to see 250 cruise vessels coming in every year.” Along with Mumbai Port, four other ports are already functional to enable calling of cruise vessels at their ports while the Kolkata will be the sixth port to shortly join in, he said. As part of developing the Eastern Water Front, Bhatia said, “Princess Dock will now be opened to replicate the Marine Drive view on the east side of the city.” Marina work is beginning in a month’s time while Water taxis are starting in 2-3 months’ time, he said.


BHANDARKAR SHIPPING NEWS

Mumbai, Monday, 10 September 2018 to 16 September 2018

GAC India wins Goa State Logistics Leadership Award n BSN Network / Mumbai A jury of industry leaders, researchers and academics have named GAC India the winner of the inaugural Logistics category in the Goa State Logistics Leadership Awards organised by Dr. R. L. Bhatia, Founder of World CSR Day and World Sustainability Congress. The company is the first

winner of the Logistics Award, which was added this year to the annual honours presented to a range of categories including entrepreneurs, NGOs, educational institutes, hoteliers and developers. Winners were selected using stringent criteria covering their strategic perspective, process management, future orientation, track record, integrity and ethics

and sustainability among others. The award was presented to Joseph Moras, GAC India’s Goa Branch Manager, who says: “This honour recognises both our logistics capability and the contribution we are making to this growing sector of the Indian economy. GAC India is wellplaced to cater to the needs of the evolving markets as India’s logistics sector undergoes a transformative period with the introduction of new initiatives.” GAC made its first foray into the Indian Subcontinent in 1983. Today, it is a leading provider of shipping and logistics services throughout the country with 26 offices along the eastern and western coastlines. GAC is a global provider of integrated shipping, logistics and marine services. Emphasising worldclass performance, a long-term approach, innovation, ethics and a strong human touch, GAC delivers a flexible and valueadding portfolio to help customers achieve their strategic goals. Established since 1956, the privately-owned group employs over 9,000 people in more than 300 offices worldwide.

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Nitin Gadkari to inaugurate and Saurav Ganguly to address FIATA World Congress n BSN Network / New Delhi World’s leading Logistics Conference, FIATA World Congress (FWC), which is being hosted by FFFAI (Federation of Freight Forwarders’ Associations in India) for the first time in India from September 26-29, 2018 at Pullman Hotel, Aerocity, New Delhi, will be inaugurated by Mr Nitin Gadkari, Shipping & Road Transport Minister, Government of India. Apart from a galaxy of eminent logistics industry practitioners and experts, former Indian Cricket Team Captain Mr Saurav Ganguly, will also speak at FWC-2018. He will speak at Indian Forum

Abhilasha Foundation donates Rs. 7.5 Lakhs for Kerala flood affected See pg.4

Mr Debashis Dutta, Chairman, FWC2018 Organising Committee

to highlight various factors and aspects of India’s growth story. Contd. on page 17

Managing Trustee Mr. Basant Malawat, MD, Malawat Ship Management Pvt. Ltd. with Nisha Malawat handing over the cheque to Chief Minister of Kerala Mr. Pinarayi Vijayan.


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Mumbai, Monday, 10 September 2018 to 16 September 2018

Abhilasha Foundation donates Rs. 7.5 Lakhs for Kerala flood affected

n BSN Network / Mumbai Kerala was reeling under the worst floods in 100 years. The floods have paralyzed normal life of millions of people. Lakhs of people have been affected and thousands of victims are in desperate need of relief supplies. Flood water has washed away and damaged the homes of thousands of people in the state who are now living in relief camps and makeshift shelters. At that time Abhilasha Foundation Management decided to do a little bit from their end. Managing Trustee Mr. Basant Malawat also Managing Director Malawat Ship Management Pvt. Ltd. came into action and contacted Mr. A. Rajshekharan Nair Special Personal Secretary to Chief Minister of Kerala and expressed desire to hand over a cheque of Rs. 7,50,000. Towards its objective of fulfilling dreams of the students aspiring for becoming successful engineers Abhilasha Foundation on the occasion of Teachers Day donated Rs. 8,03,076 as scholarship for the underprivileged students of Thakur College of Engineering and Technology. These underprivileged students were struggling to pay their fees for pursuing their engineering course that is when Abhilasha Foundation stepped in to change their life…… ‘Converted their desires into reality.’ During this calamity Abhilasha

Foundation is with the people of Kerala and also express our grief and sorrow on the unfortunate deaths and damage caused to life and property. Abhilasha Foundation handed over a Cheque of Rs. 7.5 Lakhs to Chief Minister of Kerala Mr. Pinarayi Vijayan for the relief and rehabilitation in the flood affected areas in Kerala. “We stand for Kerala in this hour of crisis and express our solidarity with them to rebuild Kerala. We appeal to all Donors to donate generously,” said Mr. Malawat. Abhilsha Foundation is a Mumbai based nongovernment organization that envisions developing a society wherein children have the right to education, women are independent and are given the chance to earn a livelihood. To aid children who suffer from acute diseases and to uplift the underprivileged society. n BSN Network / New Delhi Federation of Indian Export Organisations (FIEO) signed an MOU with the National Stock Exchange of India Limited (NSE) to impart knowledge to FIEO members on price risk management, hedging on NSE’s platform for products like Currency, Debt, Commodity and to assist FIEO members in raising equity capital on NSE’s EMERGE platform. The MoU was signed by Dr Ajay Sahai, Director General

BHANDARKAR SHIPPING NEWS

Mahindra 3PL

Mahindra Logistics appoints Mr. Yogesh Patel new CFO n BSN Network / Mumbai Mahindra Logistics (MLL), one of India’s largest Thirdparty logistics (3PL) solution providers, announced the appointment of Mr. Yogesh Patel as its new Chief Financial Officer. Yogesh will take over the reins from Mr. Nikhil Nayak, who will be retiring shortly. Yogesh Patel is a Chartered Accountant and has around 20 years of experience. Yogesh has held senior leadership position in Finance with organisations like E&Y, IBM, Wipro. Mr. Pirojshaw Sarkari, CEO - Mahindra Logistics, said, “It’s been a pleasure working with Nikhil over the years. I would like to thank him for his immense contribution and for playing a pivotal role in shaping MLL. I am also pleased to welcome Yogesh to the team as the new CFO. Yogesh joins us

at an interesting time where we are embarking on major digitization at MLL. He brings with him the experience of working in tech companies like IBM and Wipro, which will be of tremendous value.” Mahindra Logistics Limited (MLL) is a portfolio company of Mahindra Partners, the USD 1 billion private equity division of the USD 20.7 billion Mahindra Group. MLL is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and people transport solutions. Founded more than a decade ago, MLL serves over 350 corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an “asset-light” business model, providing customised and technology enabled solutions that span across the supply chain and people transport operations.

NSE to assist FIEO members in raising equity capital

& CEO, FIEO and Mr Gaurav Kapoor, Vice President, National Stock Exchange of India Limited. Dr Ajay Sahai, Director General & CEO expressed the need for awareness creation among the members of FIEO, who are largely exporters & importers about the various platforms available on National Stock Exchange for price risk management and hedging their commodities, Currency & Interest rate risk. Such an initiative, at a time when there is

huge volatility in currencies and Rupee breaching new marks every day and the global trade is plagued with uncertainty, is the most timely. He also stressed the need for awareness for NSE’s EMERGE platform for raising equity capital as an effective alternative for raising capital to address the increasing cost of borrowing as interest rates are moving northward. Contd. on page 17


BHANDARKAR SHIPPING NEWS

n BSN Network / Mumbai l Price Band: Rs. 470 to Rs. 475 per Equity Share l A discount of Rs. 10 per Equity Share on the Offer Price shall be offered to the Retail Individual Bidders. Employee Discount of Rs.10 per Equity Share on the Offer Price shall be offered to the Eligible Employees l The offer and the net offer will constitute 10.53% and 10.00% respectively, of the post offer paid-up equity share capital of the company IRCON International Limited (the “Company”) proposes to open on September 17, 2018, an initial public offering of equity shares of Face Value of Rs. 10 each (“Equity Shares”) for cash at a Price per Equity Share (including a Share Premium) (“Offer”) comprising an offer for sale of 9,905,157 Equity Shares by its Promoter, The President of India, acting through the Ministry of Railways, Government of India (“The Selling Shareholder”). The offer includes a reservation of up to 500,000 equity shares for subscription by eligible employees (as defined in Red Herring Prospectus) (“Employee Reservation Portion”). The offer-less employee reservation portion is referred to as the net offer. The offer and the net offer will constitute 10.53% and 10.00%

Mumbai, Monday, 10 September 2018 to 16 September 2018

IRCON International Limited: Initial Public Offer to open on September 17, 2018 and to close on September 19, 2018 of the post offer paid-up equity share capital of the company r e s p e c t i v e l y. The Bid/Offer Period closes on September 19, 2018. A discount of Rs. 10 per Equity Share on the Offer Price shall be offered to the Retail Individual Bidders (“Retail Discount”) and a discount of Rs.10 per Equity Share on the Offer Price shall be offered to the Eligible Employees bidding in the Employee Reservation Portion (“Employee Discount”). The Price Band for the Offer is from Rs. 470 to Rs. 475 per Equity Share. Bids can be made for a minimum lot of 30 Equity Shares and in multiples of 30 Equity Shares thereafter. The Equity Shares are proposed to be listed on BSE and NSE. The Book Running Lead Managers (“BRLMs”) to the Offer are IDBI Capital Markets & Securities Limited, Axis Capital Limited and SBI Capital Markets Limited. The Offer is being made

in terms of Rule 19(2)(b)(iii) of the Securities C o n t r a c t s (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 41of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”) wherein at least 10% of the post-Offer paid-up Equity Share capital of the Company will be offered to the public. The Offer is being made through the Book Building Process in accordance with Regulation 26(1) of the SEBI ICDR Regulations, wherein 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIB Portion”). Such number of Offered Shares representing 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs,

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including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Offered Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to NonInstitutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, up to 5,00,000 Equity Shares shall be offered for allocation and Allotment to the Eligible Employees Bidding in the Employee Reservation Portion, conditional upon valid Bids being received from them at or above the Offer Price. All Bidders shall participate in the Offer mandatorily through the Applications Supported by Blocked Amount (“ASBA”) process by providing the details of their respective ASBA Accounts in which the corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”).


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Mumbai, Monday, 10 September 2018 to 16 September 2018

BHANDARKAR SHIPPING NEWS


BHANDARKAR SHIPPING NEWS

Mumbai, Monday, 10 September 2018 to 16 September 2018

Nitin Gadkari to inaugurate and Saurav Ganguly to address FIATA World Congress Contd. from page 3 The Inauguration function of FWC-2018 will be held on 26th September 2018 at 9:00 am at Pullman Hotel, Aerocity, New Delhi. Among other esteemed speakers to address on this occasion would be Mr. Kunio Mikuriya, Secretary General of World Customs Organization; Mr. Babar Badat, President, FIATA and Mr. A. V. VIjayakumar, Chairman, FFFAI. FFFAI, which is an Apex body and the sole representative of 28 Member Associations from all over India, representing 6500 Customs Brokers, is the member of the International

Freight Forwarders Association i.e. FIATA. This mega event takes place every year across the world and is the greatest platform in the field of Logistics and Freight Forwarding Industry. In FWC-2018 more than 1000 Customs Brokers; Freight Forwarders and allied industries are participating from 100 plus countries to explore Logistics business opportunities in India as well as other parts of the world. In FIATA World Congress 2018 major industry stakeholders would be from Shipping Lines, Airlines, Customs Brokers, Freight Forwarders, Ports, Airports,

OUTLOOK FOR APPAREL Contd. from page 2 Further, a stronger rupee heightened the challenges in the international market by affecting competitiveness of players in an intensely competitive international apparel market.” ICRA note says that country’s apparel sector’s performance is worrying as it is contrary to the global trends. The global apparel trade is back on the growth trajectory with an estimated growth of ~4-5% year-on-year (Y-o-Y) in H1 CY2018 (refers to Calendar Year) and 2% in CY2017 in US dollar terms. The positive trend in the global apparel market is being led by the strong recovery in apparel imports by the European Union (EU), which accounts for two-fifth of the global apparel trade (including the trade within EU). With faster GST refunds, improved clarity on the rate of export incentives and the sharp rupee depreciation witnessed over the past few months, most of the industry’s concerns stand addressed to a large extent. Having said that, the industry is now facing mounting concerns on the continuance of export subsidy schemes in India, after being challenged

by the US at the World Trade Organisation (WTO), which seems to be constraining the growth momentum of India’s apparel export sector. “Going forward, steps taken by the Government to address these concerns, will remain crucial for apparel exporters to capitalise on the revived global apparel trade as well as the continuing loss of market share by China, which opens up a lucrative opportunity for key players such as India, Vietnam and Bangladesh,” adds Roy. ICRA notes that Bangladesh and Vietnam have been the key gainers from China’s loss of share of export market over the past couple of years. Vietnam is maintaining a healthy growth in its stronghold market of the US, with its position likely to strengthen further if the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the EU-Vietnam Free Trade Agreement are successfully consummated. Meanwhile, Bangladesh continues to gain share in Europe, even as concerns on withdrawal of its duty-free access to the EU market have surfaced, given the improvement in its economic indicators.

ICDs, CFSs, Terminal Operators, Technology Service providers, etc. In addition, Participating Government Agencies and different Ministries of Government of India would also take active part in various sessions in this event. Providing a latest update Mr Debashis Dutta, Chairman, FWC-2018 Organising Committee and past Chairman, FFFAI informed that about 800 delegates from various Countries from across the world have already confirmed their participation. “We are expecting the number would cross 1000 and this is really encouraging for us in successfully organizing the Congress,” he maintained. Commenting on the Government support in organizing this prestigious event Mr Dutta shared, “I would like to extend my heartfelt thanks to the Government of India for their tremendous support. We have received full cooperation and wholehearted support from various Departments of the Government of India, viz Ministry of Shipping, Finance, Tourism, External Affairs, Home Affairs, Civil Aviation, MSME Commerce, rtc. Speakers from Government of India include Ms. Vandana Aggarwal, Senior Economic Advisor, Ministry of Civil Aviation; Mr. Sanjiv Garg, Additional Member (Tourism & Catering) Railway Board and others. “We have 24 sessions in our Congress with more than 40 eminent Speakers from renowned Industry leaders, as well,” added Mr Dutta. The session speakers from the Industry include Mr. Karan Adani, CEO, Adani Ports and Special Economic Zones (APSEZ); Mr. Samir Chaturvedi, CEO, KIZAD, Abu Dhabi Ports; Mr. Sebastian Saez, Lead Economist, World Bank Group; Mr. Ankur Huria, Senior Trade Logistics and Facilitation Specialist, World Bank Group; Mr. Alejandro Gamboa-Alder, Senior Trade Specialist, World Trade Organization; Ms. Andrea

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Gruber, Head, Special Cargo International Air Transport Association (IATA); Mr. Ashwin Bhat, Head-Cargo, Swiss International Air Lines Ltd; Ms. Kirsten De Bruijn, Vice President, Cargo Pricing and Interline, Revenue Optimisation, Emirates Sky Cargo; Mr. Devdutt Patanaik, famous Indian author and mythologist & others. “FIATA World Congress 2018 in India will draw huge attention of participants from across the world. It would provide tremendous business and networking opportunities where the delegates would interact with their counterpart. One of the major attractions of this event is the One-toOne B2B meetings,” added Mr Dutta. Meanwhile, a large number of delegates have started registering themselves for the B2B session to meet up with Foreign Customs Brokers; Freight Forwarders and others from different countries. Session for Start Ups: FWC 2018 has separate session for the young logistics professionals i.e. the “Young Logistics Programme”. According to Mr Dutta, this session would be beneficial for the start ups. Moreover, for the Young participants, FWC 2018 has arranged an interesting and attractive game titled “Business on the Move” where the participants will find the newest way of learning the Logistics Business by playing a game.

NSE to assist FIEO members in raising equity capital Contd. from page 4 Mr Gaurav Kapoor, Vice President, NSE expressed his complete support in raising awareness levels for products like Currency, Debt, Commodity and to assist FIEO members in raising equity capital on NSE’s EMERGE platform. NSE will jointly conduct awareness and educative programmes for members of FIEO and other relevant stakeholders through various road-shows, webinars etc.

Published by Vivek Bhandarkar for Bhandarkar Publications and printed at Navin Printers, 13, Krishna Kunj, 143, S. B. Marg, Matunga (W. Rly.) Mumbai-400 016. Editorial/Advertising/Circulation: Regd. Office: 10, Hammersmith Industrial Premises, Sitladevi Temple Road, Mahim, Mumbai - 400 016. Editor: Mrs B V Bhandarkar, Phone: (+91 22) 40764200 (100 lines), Fax: (+91 22) 24444250, e-mail: bhandarkarpub@bhandarkarpub.com /shippingnews@rediffmail.com Postal Regd. No. MH/MR/WEST/158/2006-2008 Regd No. MAHENG/2002/7260 Gandhidham: Bhandarkar Shipping News, 18, 2nd floor, Ajanta Commercial Center - 2, Plot No. 279, Ward 12/B, Gandhidham (kutch) 370201. Phone: 09724307499, e-mail: vgnews@bhandarkarpub.com


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Mumbai, Monday, 10 September 2018 to 16 September 2018

SCI receives two PSE Excellence Awards

n BSN Network / Mumbai The Shipping Corporation of India Ltd (SCI) received two Excellence awards at a function hosted by Indian Chamber of Commerce (ICC) in New Delhi on 29th Aug 2018. These awards have been instituted by Indian Chamber of Commerce in association with Department of Public Enterprises, Government of India to recognize excellence in public sector undertakings. Capt. Anoop Kumar Sharma, CMD SCI has been conferred PSE Excellence award for his ‘Outstanding contribution to the Indian Public Sector’. Apart from this, SCI was also awarded under

‘Contribution of Women in PSEs’ category. SCI is committed to the principles of equal employment & opportunities which reflects in the representation of women across various hierarchical grades. At present women constitute around 21% of total work force at shore establishment in SCI. Presently two out of the six functional Directors are women. Mr. Ashok Kumar, Senior Manager, SCI, New Delhi received both the awards on behalf of SCI at the hands of Dr. Ajay Dua, Former Secretary, Ministry of Commerce & Industry, Govt. of India.

BHANDARKAR SHIPPING NEWS

SCI receives AMVER award from US Coast Guard n BSN Network / Mumbai The Shipping Corporation of India Ltd (SCI) has received the AMVER award from United States Coast Guard in recognition of the yeomen service provided by SCI’s 43 vessels in respect of the AMVER.The AMVER awards were given away at a duly convened ceremony on 27th August 2018 at the US Consulate in BKC, Mumbai. The Chief Guest for the event was Dr. Malini Shankar, I.A.S, Director General of Shipping. The ‘Certificate of Merit’ was received by Shri S. V. Kher, Director (B&T) on behalf

of SCI in the presence of US Consul General Edgard Kagan. AMVER is a worldwide voluntary reporting system sponsored by the US Coast Guard. A computer based global ship reporting system, it is used worldwide by SAR (Search and Rescue) authorities for arranging assistance to persons in distress at sea. The AMVER Awards are instituted by United States Coast Guard aiming to provide quick and efficient rescue of disabled and distressed ships at sea, saving lives & ensuring continuity of shipping operations.

Published by Vivek Bhandarkar for Bhandarkar Publications and printed at Navin Printers, 13, Krishna Kunj, 143, S. B. Marg, Matunga (W. Rly.) Mumbai-400 016. Editorial/Advertising/Circulation: Regd. Office: 10, Hammersmith Industrial Premises, Sitladevi Temple Road, Mahim, Mumbai - 400 016.

Bhandarkar Shipping News, 10 September, 2018  

Bhandarkar Shipping News, 10 September, 2018

Bhandarkar Shipping News, 10 September, 2018  

Bhandarkar Shipping News, 10 September, 2018

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