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PSA’s BMCT continues to provide employment opportunities to JNPT PAPs With the arrival of three new Super Post Panamax Quay Cranes manufactured by Doosan Heavy Industries on 11 April 2018, Bharat Mumbai Container Terminal (“BMCT”) – a subsidiary of PSA International – will be recruiting a new batch of operational 2 and technical staff.

Vol. XVII-No. 29 n Mumbai, Thursday, 17 May 2018

Businesses unite in a bid to achieve U.N. Sustainable Development Goals

Business leaders in Dubai met recently to discuss harnessing their employee resources to achieve the United Nations’ Sustainable Development Goals (SDGs).

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SAL HEAVYLIFT & SAI Easy Finance Model to Promote MARITIME HOLD KNOWLEDGE Private Participation in SHARING WORKSHOPS Developing Inland Waterways n BSN Network / Mumbai “In today’s environment, hoarding knowledge ultimately erodes

your power. If you know something very important, the way to get power is by actually sharing it.” ― Joseph Badaracco And that’s what SAL Heavy Lift & Sai Maritime set out to achieve with the Heavylift Workshop Roadshow held in Mumbai during end of April.

n BSN Network / New Delhi The Inland Waterways Authority of India (IWAI) will involve banks for ensuring availability of financing options for the private players engaged in Inland Water Transport (IWT) Contd. on page 4

Contd. on page 3


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E-way The Right Way E-Way Bill system to be implemented in Assam & Rajasthan by 20th As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 1st April, 2018. As on 13th May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States/ Union Territory of Andhra Pradesh, Arunachal Pradesh, Bihar, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Meghalaya, Nagaland, Sikkim, Telangana, Tripura, Uttarakhand, Uttar Pradesh and Puducherry. E-Way Bills are getting generated successfully and till 13th May, 2018 more than four crore and fifteen lakh e-Way Bills have been successfully generated which includes more than one crore e-Way Bills for intra-State movement of goods. It is hereby informed that e-Way Bill system for intra-State movement of goods would be implemented in Assam from 16th May, 2018 & Rajasthan from 20th May, 2018. With the roll-out of e-Way Bill system in these States/ Union Territory, it is expected that trade and industry will be further facilitated insofar as the transport of goods is concerned, thereby eventually paving the way for a nation-wide single e-Way Bill system. Trade and industry and transporters located in these States/ Union Territory may obtain registration/ enrolment on e-Way Bill portal namely https://www.ewaybillgst.gov.in at the earliest without waiting for the last date.

Asia Pacific is estimated to lead the Logistics Automation Market in 2018 n Agencies The Asia Pacific region is estimated to lead the Logistics Automation Market in 2018. The growth of the Logistics Automation Market in Asia Pacific is primarily driven by the increasing demand for automated material handling solutions from manufacturing industries and warehouses in Asia Pacific. Australia, Japan, South Korea, China, and India are key countries considered for market analysis in this region. The expansion of the transportation & logistics sector in Asia Pacific is another

key factor projected to drive the growth of the Logistics Automation Market in this region. Key players operating in the Logistics Automation Market include Dematic Corporation (US), Daifuku Co., Ltd. (Japan), Murata Machinery, Ltd. (Japan), Honeywell Intelligrated, Inc. (US), KNAPP AG (Austria), Swisslog Holding AG (Switzerland), TGW Logistics Group GmbH (Austria), SSI Schaefer AG (Switzerland), Mecalux, S.A. (Spain), VITRONIC (Germany), BEUMER Group (Germany),

BHANDARKAR SHIPPING NEWS

PSA’s BMCT continues to provide employment opportunities to JNPT PAPs

n BSN Network / Mumbai With the arrival of three new Super Post Panamax Quay Cranes manufactured by Doosan Heavy Industries on 11 April 2018, Bharat Mumbai Container Terminal (“BMCT”) – a subsidiary of PSA International – will be recruiting a new batch of operational and technical staff. In its continued commitment to provide employment opportunities to the surrounding villages of Jawaharlal Nehru Port Trust (“JNPT”), BMCT has issued offer letters to 70 selected candidates comprising of JNPT Project Affected People (“PAP”) and local residents. They will join BMCT over the next few weeks and commence their training at various PSA terminals in India. The candidates passed rigorous selection criteria including “fear of height”, aptitude and psychological tests; as well as interviews. Credentials of JNPT PAP candidates were also verified by the Dy. Collector (Land Acquisitions) and by JNPT. Mr. Sivakumar K, General Manager of BMCT, said, “We look forward to welcoming the new recruits into the BMCT family, to learn and grow with us. We are confident that the intense and expert training provided by the PSA India team will enable the new recruits to attain the same high productivity levels of the current BMCT team.” “This new recruitment exercise will also support the manpower requirements of additional equipment deliveries scheduled for late 2018 and early 2019.” Parents of the new recruits expressed their happiness at the development. Mr. Ganesh Tukaram Mhatre, father of Mr Vaibhav Ganesh Mhatre, said, “I am very happy with the way BMCT has done the recruitment and given opportunities. I am very optimistic and positive about my son’s future as he will be joining a professionallymanaged company.” Father of Mr. Ninad Gangaram Patil, Mr. GangaramLahu Patil commented, “BMCT did an excellent job in the recruitment process. We are looking forward to BMCT bringing good career opportunities for the educated and talented youngsters in the nearby locality.” With rapid growth in BMCT’s rail volumes, supported by its Delhi office for NCR region and the regular barge services, BMCT is poised to meet JNPT’s initiative to reduce road congestion through alternative modes of container transfers. BMCT was officially inaugurated by India’s Prime Minister Shri Narendra Modi on 18 February 2018. Toshiba Logistics Corporation (Japan), Jungheinrich AG (Germany), WiseTech Global Limited (Australia), System Logistics Spa (Italy), Falcon Autotech (India), SI Systems, LLC (US), ULMA Handling Systems (Spain), Inspirage (US), FRAMOS (Germany), Matternet Inc. (US), Pcdata BV (Netherlands), Hinditron (India), and JBT Corporation (US).

Logical Automation

According to a new market research report “Logistics Automation Market by Component (Warehouse & Storage Management, Transportation Management), Organization Size (Large Enterprises, SMEs), Vertical (Retail & E-commerce, Automotive, Manufacturing), and Region - Global Forecast to 2023”, published by Markets and Markets™, global market is estimated to be USD 46.22 Billion in 2018 and is projected to reach USD 80.64 Billion by 2023, at a CAGR of 11.8% during the forecast period. The growth of the Logistics Automation Market can be attributed to the exponential growth of the e-commerce industry, advancements in robotics, and the emergence of IoT. Based on component, the transportation management segment of the Logistics Automation Market is expected to witness high growth during the forecast period.

Based on component, the transportation management segment is projected to grow at a higher CAGR as compared to the warehouse & storage management segment during the forecast period. The need to ensure timely delivery of goods and reduce transportation costs is one of the most significant factors projected to drive the growth of the transportation management segment. Based on vertical, the automotive segment is projected to lead the Logistics Automation Market from 2018 to 2023. Increasing competition in the automotive industry has propelled the demand for automated production systems and flexible logistics systems to enhance the manufacturing and supply of vehicles. The automotive sector uses logistics & fleet management solutions to manage, track, and monitor the movement of goods and vehicle fleet.

Coal Statistics n BSN Network / New Delhi The Indian government’s 12 major ports handled 9.71 million mt of thermal coal in April, the first month of the current fiscal year 2018-19, up 24% year on year, Indian Ports Association data released showed. The 12 ports received shipment of 4.2 million mt of coking coal in April, down 7% year on year, the data showed. Paradip port on the east coast handled the highest volume of thermal coal in April at 3.02 million mt, up 34% from a year ago. Kolkata port, also on the east coast, handled the highest volume of coking coal at around 1.25 million mt during the period under review, up from 822,000 mt from the same month a year ago. The 12 ports are Kolkata, Paradip, Visakhapatnam, Ennore, Chennai, VO Chidambaranar (Tuticorin), Cochin, New Mangalore, Mormugao, Mumbai, Jawaharlal Nehru Port Trust (JNPT) and Kandla. Chennai and JNPT ports did not receive any coal cargoes in April.


BHANDARKAR SHIPPING NEWS

Mumbai, Thursday, 17 May 2018

SAL HEAVYLIFT & SAI MARITIME HOLD KNOWLEDGE SHARING WORKSHOPS

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As every vessel carries a different set of shackle sizes, it has been encountered several times that the shackle doesn’t fit into the lifting lug, resulting in commercial implications and loss of precious time. Mr Behren’s answer to that was PPPPP – Proper Planning Prevents Poor Performance. It cannot be stressed enough that information provided in advance about the cargo – LxWxH, WEIGHT, COG along with drawings showing lifting and lashing points – can easily prevent last minute surprises. The workshop ended with highlights of some recent challenging projects undertaken by SAL Heavy Lift which the audience found extremely interesting. The Heavy Lift Workshop Roadshow ended with positive feedback from all participants. Mr Karsten Behrens, General Manager, SAL Engineering and Mr Juergen Kuntz, Senior Manager Chartering & Projects and Head of Africa Desk along with Rukhsana Vohra Mithani, Director Sai Maritime & Management P.Ltd, braved the Mumbai heat and traffic to traverse the length and breadth of the city for one-to-one workshops with SAL’s top clients . Mr Behrens who has been conducting this very popular workshop since 2009, is the inventor of The 8 Basic Essentials - which relates to all stakeholders whether you are a Manufacturer, Forwarder, Broker or Transporter. These 8 points are a mandatory check-list to be followed for any heavy lift / project cargo shipment and if adhered to, can ensure a smooth and easy sea-transport. A common question asked by manufacturers of project cargo was – how to determine the size of the lifting lugs?


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BHANDARKAR SHIPPING NEWS

ICG receives indigenous offshore Hapag-Lloyd completes Q1 with patrol vessel ‘Vikram’ an increased operating result n BSN Network / New Mangalore The State’s maritime security received a shot in the arm with the arrival of the Indian Coast Guard’s new state-of-theart offshore patrol vessel, Vikram, commissioned in Chennai on April 11, at its base port, New Mangalore. It was the first in class of seven new generation offshore patrol vessels contracted by the Ministry of Defence to Larsen and Toubro Ltd. in March 2015 under the government’s Make in India initiative.

The indigenously built ship with advanced navigation and communication facilities was anchored alongside Berth No 1 at New Mangalore Port. It was welcomed with the national anthem and “Sarae Jahan Se Acha”. It has a complement of 14 officers and 88 men. With this, the fleet of patrol vessels of the Coast Guard in the Karnataka headquarters in Mangaluru rose to five. The Coast Guard has four fast patrol vessels based here. “The ship is designed to carry one twin-engine light helicopter and another twin-engine heavy helicopter with night flying capabilities,” Commandant Satwant Singh, in-charge Commander, Coast Guard, Karnataka, said at the welcoming ceremony. It carries four high speed boats, including two rigid hull inflatable boats for swift boarding operation, search and rescue, law enforcement and maritime patrol. The ship is capable of carrying limited pollution response equipment to contain oil spill at sea, he said. The ship can stay at sea for 20 days without any replenishment and is fitted with one 30 mm gun with fire control system and two 12.7 mm guns with fire control system. It can attain a sustained speed of up to 26 knots, he said. “It is a major milestone in augmenting maritime security on the Karnataka coast,” Mr. Singh said. The other features of the ship include an integrated bridge system, automated power management system, high power external fire-fighting system, tunnel thruster and indigenously built integrated platform management system and helo traversing system, a coast guard note said.

Cyprus, Greece and Israel sign pollution contingency plan n Agencies The latest sub-regional contingency plan to deal with any oil pollution incident in the Mediterranean Sea has been signed, following support from the IMO-administered Regional Marine Pollution Emergency Response Centre for the Mediterranean Sea (REMPEC). An Implementation Agreement on the SubRegional Marine Oil Pollution Contingency Plan was signed in Nicosia, Cyprus (8 May) by Cyprus, Greece, and Israel, along with other instruments for cooperation among the three countries. The objective of the contingency plan is an effective reaction to spills. It also aims to facilitate the cooperation among the three countries in the field of oil

pollution preparedness and response. The Sub-Regional Marine Oil Pollution Contingency Plan between Cyprus, Greece, and Israel is the sixth to be developed in the Mediterranean region, out of which three were also developed with the support of REMPEC, Subregional Contingency Plan for Preparedness and Response to Major Marine Pollution Incidents in the Mediterranean (Cyprus, Egypt, Israel; 1995); Sub-regional Contingency Plan for Preparedness for and Response to Accidental Marine Pollution in the south-western area of the Mediterranean and Sub-regional Contingency Plan for Prevention of, Preparedness for and Response to Major Marine Pollution Incidents.

n BSN Network / New Delhi

EUR 219.4 million EBITDA in the first quarter / Operating result (EBIT) at EUR 53.7 million / Market environment remains challenging. Hapag-Lloyd has completed the first quarter 2018 with earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 219.4 million, which is an increase compared to the first quarter of the previous year (EUR 135.3 million). The operating result before interest and taxes (EBIT) stood at EUR 53.7 million after three months (first quarter 2017: EUR 7.5 million). The group net result amounted to EUR -34.3 million and thereby EUR 23.8 million over the quarterly result of the previous year (EUR -58.1 million). The figures of the first quarter 2018 include United Arab Shipping Company Ltd. (UASC) and can therefore only be compared to a limited extent with the figures of the first quarter 2017 (without UASC). “We have had a solid start into the current year, but the market environment is challenging. Freight rates have been under pressure, bunker costs and trucking cost in some important markets were up and we faced a weaker USDollar, whereas higher transport volumes and synergies supported the result. We expect a gradual improvement of the market throughout 2018 – but most of that will only hit the books in the second half of the year,” said Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd. Revenues amounted to EUR 2.6 billion in the first three months of this year (first quarter 2017: EUR 2.1 billion) and transport volume reached 2,861 TTEU (first quarter 2017: 1,934 TTEU). The average freight rate of 1,029 USD/TEU in the first quarter 2018 (first quarter 2017: 1,056 USD/TEU) reflects the competitive market environment. Earnings were also impacted by a lower average exchange rate of 1.23 USD/EUR (first quarter 2017: 1.07 USD/EUR) and higher bunker prices of USD 372/tonne in the first three months 2018 (first quarter 2017: USD 313/tonne).

Easy Finance Model to Promote Private Participation in Developing Inland Waterways

Contd. from page 1 sector. Financing and funding for Operation and Maintenance of IWT assets is a challenge for shippers, vessel operators and asset management firms as the banking sector is not yet ready with any customized financing option for the sector. Addressing the day-long Stakeholders Conference on Emerging Business opportunities in Inland Water Transport Sector was organized by IWAI at New Delhi, the IWAI chairperson Smt. Nutan Guha Biswas said that the banking finance is needed for the emerging business opportunities that private players are inclined to be involved with. Smt. Biswas said that lots of investments are being done to develop the waterway sector which is going to complement railways and roadways and we have started working on eight new National Waterways, in addition to five others on which work had been on in full swing. Shri Rajat Sachar, Advisor in the Ministry of Shipping, sought recommendations from private players for policy changes to make Inland water transport a vibrant sector. Referring to the Jal Marg Vikas Project being implemented between Varanasi and Haldia on river Ganga, he said, the government has decided to invest Rs 5369 crore on one National Waterway. He also appealed to the financial institutions to offer products for private sector investment in IWT sector where annual government funding has increased by 12 times in the last 4 years. The MD&CEO of the Bank of Baroda Shri PS Jayakumar said that banks can provide flexible scheme for financing, like providing the moratorium period for loans on existing as well as the new projects. He added that issue of bonds can be the alternative source for long-term loan capital financing ship-owners. The Government is developing National Waterways as a key transport intervention, as part of an integrated transport network strategy, which will help correct the transport modal mix that imposes huge logistics costs on the Indian economy. At present the cost of logistics in India, at 15 per cent of GDP, are about twice those in the United States.


BHANDARKAR SHIPPING NEWS

Mumbai, Thursday, 17 May 2018

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Naval Commander’s Conference concludes

n BSN Network / New Delhi The first Biannual Naval Commander’s Conference of 2018 concluded today after four productive days of intense deliberations on a wide range of issues. The Conference was inaugurated by the Raksha Mantri, Smt Nirmala Sitharaman, who set the tone for the deliberations stating that the Indian Navy is a force to reckon with in the Indo-Pacific region. The RM also assured the Naval Commanders that endeavours to bridge critical capability gaps in Ship-borne helicopters, Fleet Support Ships and Submarines would be progressed by the Government. The Minister also extended support to the longterm capability acquisition plans of the Navy that have been formulated with a strategic view of the Indo-Pacific region. The imperative need for approval of the second indigenous aircraft carrier for the Navy was also deliberated upon. This project along with the other shipbuilding projects already underway or in the pipeline including Mine Counter Measure Vessels (MCMVs), Landing Platform Dock (LPD), Anti-Submarine Shallow Water Craft, Diving Support Vessels and Survey Vessels are expected to provide a major thrust to the ‘Make-in-India’ initiative of the Government. Major shipbuilding projects in Indian Shipyards, both Private and Public result in the creation of jobs at these Shipyards as well as encouragement to MSMEs to develop indigenous technologies and manufacturing units in support of these major shipbuilding projects. The fifteen-year ‘naval Indigenisation Plan’ promulgated in 2015 by the Navy has set the tone for the Indian Industry to create infrastructure, skilling and jobs. The Conference also undertook a review of the Navy’s Mission Based Deployments. The review was aimed at maximising benefits accrued from the deployment of IN ships and aircraft to critical areas within the IOR. Measures such as information sharing with other navies as well as combining Defence Diplomacy initiatives such as Bi-lateral exercises and port visits into these deployments are planned to be undertaken. The Navy’s new Transition Cycle for ships from maintenance to operations was also reviewed by the Commanders. This has resulted in considerable improvement in combat efficiency and crew proficiency of ships undergoing the new Transition Cycle. The new Transition Cycle has also resulted in the overall improvement of Op Logistics, spares management and forecasting, Refit planning and expenditure management. The Naval Commander’s Conference also saw the inauguration of a new Digital Library available pan-Navy for knowledge management and retrieval including archiving of critical data and information. This was complemented by deliberations on the security and hardening of naval data networks in keeping with contemporary cyber security practices. In keeping with the Navy’s ethos of harnessing niche technologies, concrete plans to incorporate Big Data Analytics and Artificial Intelligence into the Navy’s operational functioning have also been formulated. The Naval Commanders also interacted with Shri Arvind Subramanian, the Chief Economic Advisor and the Chiefs of the Army and Air Force. The next edition of the Naval Commander’s Conference is scheduled in Oct/ Nov later this year.

BHANDARKAR SHIPPING NEWS

Businesses unite in a bid to achieve U.N. Sustainable Development Goals

DP World, Emirates NBD and 40 companies discuss volunteering programmes

n Agencies Business leaders in Dubai met recently to discuss harnessing their employee resources to achieve the United Nations’ Sustainable Development Goals (SDGs). Mobilising volunteering programmes to achieve sustainable change by 2030 was the focus of a Leadership Forum organized by DP World and Emirates NBD as part of IMPACT 2030 - the only international private-sector led coalition aligning employee resources to achieve the goals which focus on key global issues such as poverty, inequality and climate change. Objectives of the Leadership Forum include: • Increasing the knowledge and understanding of IMPACT 2030 as a global private sector led collaboration to mobilise volunteers to achieve the SDGs. • Sharing the results from a UAE survey on volunteering in which 48 companies took part with 90,000 volunteers contributing almost 1 million volunteer hours through their activities in 2016. • Identifying next steps on how to align employee volunteering with the SDGs. DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Private sector collaboration will contribute enormously to the success of the goals of the United Nations and companies in the UAE are playing a leading role in this region. Employee volunteering programmes that bring together companies in different sectors will go a long way to helping tackle some of the world’s issues around poverty, inequality and climate change. By planning our efforts together, we can make more headway into alleviating some of these problems for the benefit of millions of people worldwide.” The Leadership Forum coincides with the Year of Zayed in the UAE that provides an opportunity for businesses to create a sense of community responsibility, to develop a spirit of volunteering and to encourage specialised volunteer programmes.

Block chain...

Contd. from page 20 According to analysis from Opsiana, a consultancy also based in Scandinavia, the platform could see global carbon dioxide (CO2) emissions fall by 4.6 million tons per annum – with nitrogen oxide (NOx) emission cut by 4,900 tons. Samsung is considering shifting to a blockchain-based system to keep track of its product shipments around the world. The head of blockchain at the company, Song Kwangwoo, said that it could slash shipping costs to the tune of 20 percent. Blockchain is the technology behind cryptocurrencies, but the ledger system can have

widely applicable uses. Within shipping, the blockchain method of recording, verifying and sharing transactions could reduce the amount of time it takes to trade paperwork and to arrange scheduling with port authorities. The key here for consumers is that the electronics giant’s switch to blockchain for shipping could decrease the amount of time between when a product launches and when it arrives in stores or at a consumer’s front door. It could also make for fewer product shortages. It will certainly be interesting to see whether Samsung officially makes the switch and whether other major tech companies follow suit. There is a new era.

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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“K” Line, with 3 companies to launch LNG Bunkering business in Japan

n Agencies

Chubu Electric Power, Toyota Tsusho, and NYK Line Establish LNG Bunkering Joint Ventures and Launch the LNG Bunkering Business in Japan Kawasaki Kisen Kaisha, Ltd. (Head office: Chiyoda-ku, Tokyo; President & CEO: Eizo Murakami; hereinafter “K” Line), Chubu Electric Power Co., Inc. (Head office: Higashi-ku, Nagoya; President & Director: Satoru Katsuno; hereinafter Chubu Electric Power), Toyota Tsusho Corporation (Head office: Nakamura-ku, Nagoya; President & CEO: Ichiro Kashitani; hereinafter Toyota Tsusho), and Nippon Yusen Kabushiki Kaisha (Head office: Chiyoda-ku, Tokyo; President: Tadaaki Naito; hereinafter NYK Line) jointly announce that the four companies have agreed to launch the LNG Bunkering

business in Japan and have established two joint ventures. LNG is expected to become an important alternative to heavy fuel oil due to its low emission rate of air polluting substances and greenhouse gases, which will enable ships to meet increasingly stringent international regulations on emissions. As per the announcement on January 26, 2018, the four companies have been in joint discussions on the commercialization of LNG Bunkering Business in the Chubu (central region) of Japan. The four companies have now agreed to launch the business, and today established two joint ventures to run the LNG Bunkering Business. Going forward, each of the four companies will utilize the expertise and strengths that they each possess to propel the “Shipto-Ship Bunkering” business. A method of bunkering where an LNG Bunkering vessel comes alongside an LNG Fueled vessel to supply LNG at different locations such as along the quayside, pier or at anchor.

BHANDARKAR SHIPPING NEWS

Block chain is the new phenomenon

n Agencies A start-up led by seasoned professionals in the shipping industry is creating a Blockchain-driven platform which, for the first time, will provide a real-time registry of the world’s 27 million containers. Block shipping says its solution – which is called the Global Shared Container Platform (GSCP for short) – has what it takes to address staggering inefficiencies in the marketplace, bringing significant savings for businesses throughout the supply chain and dramatically reducing the industry’s toll on the environment. Despite being a “hugely valuable” sector, Block shipping says the industry has been plagued for years by security threats, overcapacity and ever-tightening environmental policies – adding that some issues have gone unresolved for decades. Within a three to four-year period, the Scandinavian company aspires to have 60 percent market coverage – equating to 16 million shipping containers – and hopes its utility token will become the standard currency for transactions between firms operating in the industry. Block shipping believes firms will be incentivized to adopt its technology by estimates which suggest the industry could enjoy annual savings of $5.7 billion if the Global Shared Container Platform goes mainstream. This would be achieved through the “smarter handling” that the GSCP would enable – making it easier for deficit and surplus containers to be matched. Block shipping’s white paper cites research which indicates that carriers could reduce the size of their container fleets by up to 20 percent by installing real-time tracking sensors and gaining accurate location data. The company also claims that, at any given time, one in five containers worldwide (the equivalent of 5 mln units) is unaccounted for. To compound the problem, it can be difficult to gather information about whether containers are empty or loaded, meaning that, all too frequently, trains and trucks are wasting time and fuel transporting empty metal boxes. Needless to say, this means that the environmental advantages of the GSCP could prove quite significant. Contd. on page 6

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 17 May, 2018  

Bhandarkar Shipping News 17 May, 2018

Bhandarkar Shipping News 17 May, 2018  

Bhandarkar Shipping News 17 May, 2018

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