DPA conferred with “Best Multipurpose Port of the Year” at India Maritime Awards in Mumbai
GANDHIDHAM: Deendayal Port Authority, Kandla won the prestigious BEST MULTIPURPOSE PORT OF THE YEAR at INDIA MARITIME AWARDS. Shri Ratna Sekhar Rao, Trafc Manager received the Award Organised by Daily Shipping Times at Mumbai on 28th June 2024
The Chairman-DPA congratulated all the Stakeholders, Port Users, Trade Unions, Officials of Port, Employees and workers for their whole hearted support and cooperation for this achievement, ends a recent communique from DPA
Piyush Goyal helds interaction with Export Promotion Councils & Industry Associations
DPA Kandla meets handling agents and importers of coal and coke
GANDHIDHAM:
S h r i R a j n e e s h Agarwal, CCM FM; S h r i N a r e n d e r Pa n w a r, C F T M , Western Railways; and Shri Nandeesh Shukla, Deputy Chairperson-DPA, convened a significant meeting with the handling agents and importers of coal and coke at Deendayal Port Authority, Kandla.
The session focused on addressing various issues to enhance the movement of coal and coke through railways. The trade representatives actively participated in the discussions, contributing to productive deliberations on strategies and methods to increase the railway coefficient from DPA
The meeting also benefited from the valuable insights of the ARMGandhidham and Traffic Manager-DPA whose contributions were pivotal in shaping the actionable outcomes.
JSW Infrastructure acquire majority stake in Navkar Corporation
MUMBAI: JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s
subsidiary JSW Port Logistics Private Limited (the “Acquirer”), has agreed to acquire 70.37% shareholding h e l d b y P r o m o t e
P
p i n Navkar Corporation Limited (“Navkar”). Necessary definitive agreements have been signed between the parties.
The completion of the acquisition is subject to the receipt of customary approvals required from certain regulatory bodies and the completion of identified conditions precedent.
Navkar is listed on BSE and NSE. It’s key operating facilities are:
• One Container Freight Station (CFS) and Gati Shakti Cargo Terminal at Somathane, Pavnel and Two CFS at Ajivali, Panvel.
• An Inland Container Depot (ICD) at Morbi, Gujarat.
The ICD is part of the Multimodal Logistics Park (MMLP).
Navkar also has a Container Train Operator License of Category 1 and Category 2. Navkar has established a foothold with facilities in the Western India industrial belt across the states of Maharashtra and Gujarat and leveraged its railway capability to extend its service network to Pan India.
The acquisition aligns with the Company’s strategy to pursue value-accretive organic and inorganic opportunities in the port and related infrastructure sector The acquisition will result in the Company's foray into logistics and other value-added services. It will facilitate the business to offer improved port connectivity and streamlined supply chain solutions to its customers.
The acquisition also marks a first step towards the Company’s long-term vision of building and scaling an efficient pan-India logistics network for last-mile connectivity Further, it complements the growth strategy of increasing the Company’s share of portrelated container cargo driven by India’s strong
economic fundamentals.
As a result of the Proposed Transaction, the Acquirer will be required to make an open offer in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
JM Financial Limited acted as the exclusive financial advisor to the Company for this transaction.
SHIPPING MOVEMENTS AT GUJARAT PORTS DEENDAYAL PORT
TODAY’S TIDE 01/07/2024
VESSELS IN PORT & DUE FOR EXPORT
Cargo Steamer's Agent's ETD
Jetty Name Name
CJ-I Bhardwaj Arnav Shpg. 04/07
CJ-II Adonnis Arnav Shpg. 05/07
CJ-IIA Prince Khalid DBC 03/07
CJ-III Sea Eagle Shantilal Shpg. 02/07
CJ-IV AC Kathryn Mihir & Co. 03/07
CJ-V Fuji Harmony DBC 05/07
CJ-VI Fortune Ark Mitsutor 06/07
CJ-VII Camellia 8 J M Baxi 03/07
CJ-VIII VACANT
CJ-IX QC Punny Seascape 04/07
CJ-X Nikoloas A Interocean 03/07
CJ-XI TCI Anand TCI Seaways 02/07
CJ-XII SCI Chennai J M Baxi 02/07
CJ-XIII VACANT
CJ-XIV Xin Hai Tong 23 Chowgule S. 04/07
CJ-XV Nazenin Sai Shpg. 05/07
CJ-XVA MY Zeynep Kanoo Shipping 03/07
CJ-XVI Super Arteta Interocean 06/07
TUNA VESSEL'S NAME AGENT'S
Swallow Seascape 03/07
OJ-II Bow Tribute GAC Shpg. 02/07
OJ-III Easterly Eagle Interocean 02/07
OJ-IV Sea Delta
OJ-V Stolt Orca J M Baxi 02/07
OJ-VI VACANT
GENERAL CARGO VESSELS VESSELS
OJ-VII Vela CJ-IV AC Kathryn Mihir & Co.
Grand Mariner 26/06 Bandar Abbas
SSF Dynamic 26/06 Abu Dhabi
APJ Jai 26/06
Globe Aliki 27/06
Ocean Agalia 27/06 Morocco
Behnavaz 29/06 Bandar Abbas
Chang Sheng 30/06
HG Sagunto 30/06 China
TCI Express 30/06 Manglore/ Cochin/Tuticorin
Bulk Bequia 30/06 USA
Amazing Salute 30/06 China
Starwind Exploter 01/07 China
2024061189
LIQUID CARGO VESSELS
2024061236
2024061281
CDSBO 2024061138 05/07 Elandra Sea Interocean
2024061274 Stream Jeil Crystal Wilhelmsen
2024061163 Stream Kruibeke Seaworld
07/07 Maersk Belfast Interocean
02/07 Sakura Shuchi J M Baxi
06/07 Siya Ram Marinelinks
OJ-V Stolt Orca J M Baxi
2024061288
CPO 2024061213
RBD
DP WORLD MUNDRA
Tanjung, Pelepas, Port
(NWX) 05/07 04/07-PM Wan Hai 523 2030E 4062321 Heung A / WHL Samsara / WHL Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Hongkong (C16)
CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE
02/07 SM Neyyar (V-425) 4062312 MBK Logistics Jebel Ali
05/07 Wan Hai 523 V-2030E) 4062321 Wan Hai Line Nhava Sheva
Maersk Cuanza (V-425W) Colombo 28-06-2024 Ren Jian 23(V-2407) Karachi 29-06-2024 Maersk Cairo (V-426S) Salalah 30-06-2024 In Port Maersk Genoa (V-426W) 4062358 Maersk India Jebel Ali
FOR EAST, SOUTH
ADANI MUNDRA CONTAINER TERMINAL (AMCT)
ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)
PIPAVAV PORT
05/07 04/07-1800 W Kyrenia 426W 24219 Maersk Line Maersk India Algeciras
12/07 11/07-1800 Maersk Kensigton 427W 24223
TO LOAD FOR FAR EAST, CHINA, JAPAN, AUSTRALIA, NEW
ZEALAND AND PACIFIC
In Port —/— X-Press Cassiopeia 24026E 24210 Maersk Line Maersk India Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 01/07 04/07 04/07-1500 X-Press Phoenix 24027E 24225 X-Press Feeders Merchant Shpg. Ningbo, Tanjung Pelepas. (NWX) 05/07 10/07 10/07-1700 Maersk Frankfurt 428E 24220 Sinokor / Heung A Sinokor India Port kelang, Singapore, Qindao, Xingang, Pusan 11/07
03/07 02/07-1900 Seaspan Adonis 075E 24211 ONE ONE (India) Port Kelang, Singapore, Haiphong, Cai Mep, Pusan, Shahghai, 04/07 06/07 06/07-1700 One Altair 065E 24217 HMM / YML HMM(I) / YML(I) Ningbo, Shekou (PS3) 07/07
03/07 03/07-0100 One Reliability 0054E24213 X-Press Feeders Merchant Shpg. Port Kelang, Singapore, Laem Chabang. 04/07 07/07 07/07-2200 Cape Andreas 012E ONE ONE (India) (TIP) 08/07 05/07 05/07-0700 Startford 130E 24215 COSCO / OOCL COSCO Shpg./OOCL(I) Port Kelang, Singapore, Hong Kong, Shanghai, Xiamen, Shekou. 06/07 07/07 06/07-1800 Xin Da Yang Zhou 094E 24227 Gold Star / RCL Star Shpg/RCL Ag. (CIXA) 08/07 TBA COSCO COSCO Shpg. Singapor, Cai Mep,Hongkong,Shanghai,Ningbo,Shekou,Nansha (CI1)
TO LOAD FOR WEST ASIA GULF, RED SEA & EAST AFRICAN PORTS
02/07 02/07-1700 Seaspan Jakarta 426E 24218 Maersk/GFS Maersk India/GFS Jabel Ali, Dammam (SHAEX) 03/07 05/07 04/07-1800 W Kyrenia 426W 24219 Maersk Line Maersk India Salallah, Port Said, Djibouti, Jebel Ali, Port Qasim. (MECL) 06/07 TO LOAD FOR INDIAN SUB CONTINENT PORTS & COASTAL SERVICE
In Port —/— X-Press Cassiopeia 24026E 24210 Maersk Line Maersk India Colombo. (NWX)
In Port —/— SSL Gujarat 154 SLSSLS Hazira, Cohin, Mangalore, Tuticorin, Mundra. (PIC 1)
03/07 03/07-0900 SSL Mumbai 174
03/07 03/07-0100 One Reliability 0054E24213 X-Press Feeders Merchant Shpg. Muhammad Bin Qasim, Karachi, Colombo.
07/07 07/07-2200 Cape Andreas 012E 24221 ONE ONE (India) (TIP)
04/07 04/07-0900 SCI Mumbai 174 24224 SCI J M Baxi Mundra, Cochin, Tuticorine. (SMILE)
05/07 05/07-0700 Startford 130E 24215 COSCO/OOCL COSCO Shpg./OOCL(I) Colombo. (CIXA)
07/07 06/07-1800 Xin Da Yang Zhou 094E 24227
05/07 04/07-0900 SM Manali 0043 24222 CCG Sima Marine Hazira, Mangalore, Cochin, Colombo, Katupalli, Vishakhapatanam, 06/07 Krishnapatanam, Cochin, Mundra. (CCG) TBA COSCO COSCO Shpg. Karachi, Colombo (CI1)
TO LOAD FOR US & CANADA WEST COAST
03/07 02/07-1900 Seaspan Adonis 075E 24211 ONE ONE (India) Los Angeles, Oakland. (PS3) 04/07
03/07 03/07-0100 One Reliability
05/07 04/07-1800 W Kyrenia 426W 24219 Maersk
12/07 11/07-1800 Maersk Kensigton 427W 24223
SHIPPING MOVEMENTS AT ADANI
HAZIRA PORT
ZIM INTEGRATED SHIPPING SERVICES
m.v. “SM MAHI” V - 0072
The above vessel is arriving at MUNDRA PORT on 10-07-2024 with Import Cargo in containers.
Item Nos. B/L NOS. 1 ZIMUNYC9072536
Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.
Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.
As Agents :
ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.
First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201
Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433
Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com Mr. Vijay Anand - 9824504315 Email : anand.vijay@zim.com
Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com
m.v. “MSC GREENWICH” Voy : IP425A I.G.M. NO. 2380765 Dtd. 25-06-24 Exch rate 86.05
The above vessel has arrived on 30-06-2024 at MUNDRA PORT with Import cargo from NEW ORLEANS. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
MUNDRA PORT SEZ
The above vessel has arrived on 30-06-2024 at MUNDRA PORT with Import cargo from BOSTON, NEW ORLEANS, NEW YORK.
Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
KANDLA-SEZ/GANDHIDHAM
Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. and usual survey conditions will apply.Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.
- Charges enquiry on land line - 619100
- IGM No./Item No./Destuffing point enquiries can also be done at our computerized helpline No.(079) 40072804
DA YANG ZHOU”
17
GOSUSHH31320014 18
GOSUSHH31320024 19
GOSUSHH31323597
GOSUSHH31325045
33
GOSUSHH31345974
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55
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Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.
Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.
Agents : STAR SHIPPING SERVICES (INDIA) PVT. LTD.
First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201
Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433 Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com
Vijay Anand - 9824504315
GOSUOCQ6061963
25
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28
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31
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GOSUYIH9540143
GOSUZAP912602
GOSUZJG1042116
Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.
Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods. As Agents :
STAR SHIPPING SERVICES (INDIA) PVT. LTD.
First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom,
Piyush Goyal helds interaction with Export Promotion Councils & Industry Associations
NEW DELHI: Union Minister of Commerce and Industry Sri Piyush Goyal held an engaging interaction with Export Promotion Councils & Industry Associations. The discussion was about the strategies to enhance global market outreach, further boost India’s exports by focusing on key sectors, and a d d r e s s i n g t r a d e b a r r i e r s a n d promoting innovation at Bharat Mandapam on June 27, here. Exporters asked the government to firm up a strategy to deal with the issue of non-tariff barriers imposed by trade partners that ultimately hurts India’s exports.
Federation of Indian Export Organisations (FIEO), the apex body for exporters, urged the government to set up a separate division in the department of commerce to deal with such trade barriers, amid rising non-trade issues.
This would help in dealing with challenges faced by the industry in flagging the issues at the bilateral or regional level.
Another person who attended the meeting said that some exporters requested the government to take a look into the non-tariff barrier-related challenges to ensure smooth working, especially for the small businesses.
This is the first review meeting since Goyal took over as the commerce and industry minister earlier this month.
“The shortage of MAI (Market Access Initiative) funds is affecting showcasing of our exports. The fund of Rs 200 crores is grossly inadequate to support exports of $500 billion or more. We require a corpus of Rs 500 crore annually for the scheme as the participation cost has significantly increased. Moreover, we request early approval to the MAI
calendar so that the participants get adequate time for their visa and book their tickets much in advance as international fairs are skyrocketing,” according to FIEO.
Exporters also called for an extension oftheinterestequalisationschemeforfive years The scheme is valid till June 30 Under the scheme, banks provide loans to exporters at a lower interest rate, and the lenders are thereafter compensated by theGovernment.
Amid a rise in interest rates consequent to increase in repo rate from 4.4 per cent to 6.5 per cent in the last two years, exporters said that the subvention rates need to be increased from 3 per cent to 5 per cent.
Exporters also called for the need to bring in a national shipping company to break the monopoly of foreign shipping companies.
PM Gati Shakti scheme is transforming India’s Infrastructure: Morgan Stanley
NEW DELHI: In a recent report American multi-national investment bank and financial company Morgan Stanley has all praise for PM Gati Shakti Scheme.
The report says India has scaled up its infrastructure strongly over the last decade, investment is not only increasing but it is better targeted and potentially moreproductive Thereportfurtheradds India’s thrust on infrastructure spending issettocontinue.
The report said, “We expect India’s infrastructure investment to steadily increase from 5.3 per cent of GDP in F24 to 6.5 per cent of GDP by F29. Indeed, this implies that infrastr ucture investments are expected to register a strong 15.3 per cent CAGR, resulting in cumulative spending of USD 1.45 trillion over the next five years. In our view, this will help to lift the investment rate, leading to a sustained period of high productive growth.”
According to the report, contrary to popular perception, India’s physical infrastructure scale already compares favorably to China’s when viewed in the context of GDP differential.
Talking about PM Gati Shakti scheme, it says it has given a new filip to the infrastructure development and
multi-modal connectivity The report cites World Bank’s Logistics Index Report, 2023, it says the average Container Dwell Time in India was three days compared to four days for countries like the UAE and South Africa, seven days for the USA, and 10 days for Germany
I n a d d i t i o n , I n d i a n P o r t s “turnaround time” has reached 0.9 days, which is better than the USA (1.5 days), Australia (1.7 days), Singapore (1.0 days), etc. 6. In F24, ports overall cargo growth was 7 per cent, with 53 per cent of cargo handled by major ports (government-owned).
PM Shri Narendra Modi has launched the PM Gati Shakti National m
cture development in Oct 2021. Essentially a digital platform to bring 16 ministries including Railways and Roadways together for integrated planning and coord
n of infrastructure connectivity projects.
The multi-modal connectivity was aimed to provide integrated and seamless connectivity for movement of people, goods and services from one m o d e o f t r a n s p o r t t o a n o t h e r PM Gati Shakti is broadly driven by 7 engines, roads, railways, airports,
ports, mass transport, waterways and logistic infrastructure.
According to the Morgan Stanley Report, initiatives under PM Gati Shakti are giving results. Under the PM Gati Shakti scheme so far, cumulatively 101 projects worth Rs 609 bn have been identified for implementation in the ports and shipping sectors.
As of April 2023, 26 projects, worth Rs 89 bn have been completed, 42 projects worth Rs 153.4 bn are under development, and 33 projects worth Rs 366.4 bn are under implementation.
O f t h e p
e c t s u n d e r implementation, 14 projects worth Rs 205 4 bn were expected to be completed by December 2023.
Further, the Ministry of Ports, Shipping, and Waterways (MoPSW) is implementing a Comprehensive Port Connectivity Plan in coordination with concerned ministries.
The Morgan Stanley report says under the Sagarmala Programme, 220 projects worth Rs 1.12 tn have been completed and 231 projects worth Rs 2.21 tn are under implementation, while 351 projects worth Rs 2.07 tn are at the evaluation stage Development activities have been initiated in the first 13 of the 26 viable National Waterways.
“APL MEXICO CITY” V
The above vessel is arriving at MUNDRA PORT on 10-07-2024 with Import Cargo in containers.
Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.
Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.
As Agents :
STAR SHIPPING SERVICES (INDIA) PVT. LTD.
First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201
Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433
Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com
Mr. Vijay Anand - 9824504315 Email : anand.vijay@zim.com
Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com
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Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.
Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods. As Agents
ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.
Work on India-UAE leg of $20 bn Trade Corridor set to kick off
NEW DELHI: Work on the IndiaU A E l e g o f t h e $ 2 0 b i l l i o n transcontinental India-Middle East Europe Economic Corridor (IMEC), widely viewed as a counter to China’s i n t e r c o n t i n e n t a l B e l t a n d Road Initiative, is set to kick off with a d i g i t a l p l a t f o r m t o e x c h a n g e information between ports of the two countries.
The initiative, aimed at connecting ports of both countries and enhancing trade efficiency, is likely to be operational within the first 100 days of the Modi 3.0.
The digital platform will harmonise vessel, voyage, and cargo-related procedures between the ports on India’s western coast including, Mundra, Kandla, and Nhava Sheva and the UAE including Jebel Ali and Fujairah. The intent is to migrate to a digital platform, as a first step, for exchange of vessel and voyage-related documents between the ports on both sides of this maritime leg. T h i s w i l l i m p r o v e o p e r a t i o n a l efficiencies and simplify compliance requirements thereby facilitating trade and ease of doing business, according to experts.
The IMEC, a proposed 4,800 km long route comprising a railroad, ship-to-rail networks, and road transport routes extending across two corridors, was announced in September 2023 in New Delhi on the sidelines of the G20 Summit. This followed a meeting between the leaders of India, the US, the UAE, Saudi Arabia, Italy, France, G e r m a n y, a n d t h e E u r o p e a n Commission.
The ambitious project intends to increase efficiency, reduce costs, secure regional supply chains, increase trade accessibility, enhance economic
cooperation, generate jobs, and lower greenhouse gas emissions, resulting in a transformative integration of Asia, Europe, and the Middle East.
Strategically, the IMEC is viewed as a counter to China’s BRI, although its scale and scope are relatively limited.
India’s External Affairs Minister Shri S Jaishankar recently said that the delay in implementation of the IMEC because of the current situation in the Middle East was a matter of “concern.” However, he added that all the parties to the agreement had reconfirmed their commitment to it.
A key element of the IMEC strategy is seamless movement of cargo from, say, Mundra to Haifa in Israel which will mean common port and customs documentation across the countries — from India and UAE to Jordan and Israel — and standardised equipment and containers in all ports and dry docks. Once in place, the plan is to ship goods from the Indian ports to Haifa in 48 hours But that will also require construction of missing rail links in parts of Saudi Arabia and Jordan, for which initial assessment is being undertaken.
T h e p r o j e c t i n c l u d e s t h
development of a mega port at Vadhavan in Maharashtra for efficient o
developing a major greenfield port at Vadhavan in Maharashtra as part of the corridor.
Analysts said India and other partners of the IMEC have a lot riding on the project It will be a pity if the project, the estimated cost may be about $20 billion, languishes till the M i d d l e E
i s o v e r. One view is to do as much work as possible on the trade corridor now
The India-UAE leg is the first one that may be worked on
“From a Gulf perspective, the new venture will solidify the region’s historical position as the primary trade route linking Asia, Europe and Africa. By emphasizing energy trade, the project is banking on the region’s comparative advantage in providing cheap and reliable energy to the rest of the world,” Abdel Aziz Aluwaisheg, GCC Assistant Secretary-General for political affairs and negotiation, wrote in a column.
The project holds economic promise for India through its large diaspora in the Middle East, contributing to energy security and serving as a market for Indian goods. It will help position India strategically, fostering influence over the Indian Ocean and expanding reach into Mediterranean, Atlantic regions, according to analysts.
The corridor will unlock sustainable and inclusive economic growth for all stakeholders, including the UAE and S a u d i A r a b i a , b o t h l e a d i n g trade partners of India, and create new trade routes and facilitate increased trade between India, the Middle East, and Europe This would open up opportunities for the UAE and Saudi Arabia to expand their export markets and attract foreign investment.
The IMEC project will have two c o m p o n e n t s : t h e e a s t c o r r
r connecting India to the Arabian Gulf, and the northern corridor connecting the Gulf to Europe with railway lines that, upon completion, will provide reliable and cheaper cross-border shipto-rail transit than existing sea and road transport routes.
WTO’s $648 billion funding helps integrate developing economies into Global Trade
BRUSSELS: The World Trade Organization’s (WTO) Aid for Trade initiative has contributed $648 billion in funding since 2006 to strengthen the e x p o r t p o t e n t i a l o f d e v e l o p i n g economies and least-developed countries (LDCs) This initiative has contributed to the improvement of these economies’ capacity to trade, according to the latest ‘Aid for Trade at a Glance 2024' WTO-OECD report. Disbursements and commitments surge Aid for Trade disbursements and c o m m i t m e n t s s u r g e d i n 2 0 2 2 , surpassing pre-pandemic levels
The WTO’s disbursements reached an all-time high of $51.1 billion, a 14 percent annual increase in real ter ms In addition, commitments increased by 31 percent to reach a peak of $65 billion. Over 55 percent of the Aid for Trade initiative’s funding comes from bilateral
donors who are also member states in the OECD Development Assistance Committee. Multilateral donors like the World Bank and the Asian Development Bank also support the initiative with additional funding.
In 2022, the top donors included Japan, which contributed $11.1 billion or about one-fifth of total Aid for Trade disbursements. Following closely came the World Bank with $7.9 billion and E.U. institutions with $6.8 billion. Africa and Asia receive most of the funding
Africa and Asia are the main geographical destinations that receive Aid for Trade funding, accounting for 70 percent of total flows.
By income level, lower-middleincome economies are the main recipients of Aid for Trade funding, receiving $19 8 billion or 38 percent of total disbursement. Then come least-
developed countries and other lowincome economies, which received $14.1 billionor28percentoffundingin2022.
S i
e d countries have received a total of $189 billion in Aid for Trade.
Transport and storage projects attract most funding
Aid for Trade projects include three main types:
• Economic infrastructure: 54.6 percent of funding in 2022
• Productive capacity building: 43.6 percent of funding in 2022
• Trade policy and regulations: 1.8 percent of funding in 2022
Within these three categories, transport and storage attracted the highest share of funding at 27 percent, followed by energy generation and supply at 23 percent, agriculture at 18 percent, and banking and financial services at 12 percent.
India has a permitted usage of 30% biofuel blends onboard Indian vessels
N E W D E L H I : I n d i a h a s a permitted usage of 30% biofuel blends onboard Indian vessels, for reduction in greenhouse gas emissions from ships & other air pollutants such as Sulphur Oxides. This will accelarate decarbonisation in the shipping industry, as part of our journey to net-
zero by 2070.
The use of biofuel blends is expected to play a crucial role in mitigating environmental impact from maritime activities, aligning with global efforts to transition towards cleaner energy sources. This r
proactive stance in promoting sustainable practices within the maritime sector, ensuring a greener future for maritime transportation This move is part of broader efforts to meet international climate goals and enhance India’s environmental stewardship on the global stage.
Record decline in share of imported coal in last decade : Govt
NEW DELHI: India, endowed with the fifth-largest coal reser ves globally, stands as the second-largest consumer of coal, propelled by a fastgrowing economy
In overall coal consumption spectrum, the unavailability of coking coal and high-grade thermal coal within our reserves necessitates imports to meet the requirements of industries like steel etc However, medium and low-grade thermal coal a r e a b u n d a n t l y a v a i l a b l e domestically, making it imperative for
the country to sufficiently produce to fulfil domestic demand.
Over the past decade, concerted efforts to bolster coal production have yielded a positive trend. Notably, from fiscal year 2004-05 to fiscal year 2013-14, the compound annual growth rate (CAGR) of coal production stood at 4.44% only. While, from fiscal year 2014-15 to fiscal year 2023-24, this figure rose to around 5.63%.
Additionally, CAGR of coal import from fiscal year 2004-05 to fiscal year 2013-14 stood significantly at 21.48%
however, the CAGR of coal import from fiscal year 2014-15 to fiscal year 2023-24 stood at 2.49% only
Moreover, CAGR of imported coal share stood at 13 94% during the period from fiscal year 2004-05 to 2013-14 while the same figure plummeted to around -2.29%.
With strategic focus on optimizing indigenous coal resources and leveraging innovative technological solutions, India continues its journey towards self-reliance or Atmanirbhar in energy security of the nation.
Govt imposes anti-dumping duties on 3 Chinese products
N E W D E L H I : I n d i a n Government imposed anti-dumping duties on three Chinese products including hydraulic rock breakers to protect domestic players from cheap imports
These duties were imposed following a recommendation by the Commerce Ministry’s Directorate G e n e r a l o f Tr a d e R e m e d i e s (DGTR), which has concluded in its probe that the dumping of these
industry.
The DGTR held investigations after complaints were filed by domestic players on the dumping of these goods The Department of Revenue notified these duties in three separate notifications.
On hydraulic rock breakers, the duty ranged between 4 55% and 162 5% of CIF (cost, insurance,
The duty was also imposed on these goods coming from Korea.
These breakers are used in the construction and mining industry for demolition, excavation, mining, and boulder-breaking activities.
“The anti-dumping duty imposed (on these breakers) shall be effective for a period of five years (unless revoked, superseded or amended earlier),” according to one of the notifications.
PSA secures 3 Awards at the 2024 Asian Freight, Logistics & Supply Chain Awards
SINGAPORE: PSA bagged the “Best Global Container Terminal Operator” award for the sixth time at the 2024 Asian Freight, Logistics & Supply Chain (AFLAS) Awards.
I n a d d i t i o n , P S A S i n g a p o r e c l a i m e d t h e “Best Container Terminal – Asia (Over 4m TEUs)” award, and PSA Antwerp in Belgium won the “Best Container Terminal – Europe” award, for the 33rd and sixth time respectively.
PSA International Group CEO Ong Kim Pong said, “These accolades are a testament to the resilience and dedication demonstrated by PSA’s management, staff and unions in the face of continued disruptions in global trade. The affirmation strengthens our resolve to continue our pursuit of service and operational excellence, expand our fabric of ports network and develop world-class port ecosystems. I would like to extend my heartfelt gratitude to our customers, partners and stakeholders for their steadfast support and unwavering confidence in PSA as we continue to collaborate closely towards advancing sustainable trade.”
The awards ceremony was held at Waldorf Astoria Shanghai on the Bund in Shanghai, China on 25 June. The AFLAS Awards, organised by freight and logistics publication Asia Cargo News, is an annual event celebrating service providers within the supply chain industry which demonstrate business excellence and deliver outstanding performance. Winning organisations are voted in by readers, which serves as a true reflection of user opinion.
National Logistics Day acknowledges Role of Logistics in economic development - Ketan Kulkarni, Chief Growth Officer, Allcargo Group
MUMBAI: The National Logistics Day acknowledges the role of the logistics sector in facilitating India's economic development through efficient transportation of goods across the country and beyond borders. At the same time, for the industry, it's a day to take stock of how far the industry has progressed and chart the future roadmap for growth. The policymakers have shown a continued focus on transforming the logistics industry through infrastructure and technology-led reforms. The rollout of the PM Gati Shakti National Master Plan, National Logistics Policy, and Unified Logistics Interface Platform are significant policy moves by the central government. As a result, India has climbed from the 44th to the 38th position out of 139 nations in 2023. The industry is now poised for the next phase of growth. To unlock the potential, the sector requires sustained policy support and increased capex in transport as well as digital infrastructure development in particular, which will pave the way for new-age
technology deployment for better
manufacturing hub and the domestic ecommerce sector is growing at a faster clip, a broadbased distribution network and end-to-end supply chain visibility are crucial to meet the growing logistics transportation demand, both in the domestic and global markets Therefore, the logistics sector must be empowered to innovate and thrive in an increasingly complex logistics and supply chain ecosystem especially in an interconnected world. An efficient and resilient logistics industry with robust multimodal connectivity, new-age digital technology adoption, and effective sustainable practices will increase the demand for India’s logistics sector, contributing to the country’s GDP growth to reach US $6 trillion by 2030.
IRS holds seminar and industry interaction on Analysis and Assessment of Mooring Systems
MUMBAI: Leading classification society Indian Register of Shipping (IRS) hosted a Seminar and Industry Interaction on Analysis and Assessment of Mooring Systems at its Head Office in Mumbai, as part of its efforts to strengthen its initiatives in this field
The meet was well-attended by representatives from design firms, marine warranty service providers, Gover nment authorities and other maritime stakeholders. Several presentations related to Mooring activities covered fundamentals of mooring analysis, analysis and assessment of mooring systems and review of mooring analysis reports.
The seminar was well received by the participants and valuable inputs related to review process were
received from the industry The event saw an engaging and interactive Q&A session towards the end of the presentations.
Dr. Asokendu Samanta, Divisional Head of Research and Development Division s a i d
“Considering the large number of ongoing offshore activities, mooring is one of the important aspects from the safety standpoint of offshore assets and personnel. Our stakeholders and customers were updated on the significance of analysis and assessment of mooring systems. This meet helped us understand the needs and expectations from the industry. We look forward to collaborating with industry partners to work together on related emerging fields”.
Mr. Ketan Kulkarni
