MUM-02-03-2023

Global Logistics Solutions India launches Feeder Service linking Chennai to Pondicherry Port

CHENNAI : Global Logistics

Solutions India is proud to announce the launch of latest offering Feeder Service

HOPESEVENlinkingChennaiPorttoPondicherryPort.

This latest service will ensure QUICK DIRECT TRANSIT to the terminal at Chennai and Pondicherry while reducing costs, portcongestion,andpollutionontheroads.

Mr Sunil Paliwal, IAS, Chairman, Chennai Port Trust, who flagged off the vessel shared during the press meet, “This service willreducetransittimefrom2-3daysto12hours.

Adani Ports cross 300 MT Cargo volumes to beat its own milestone

AHMEDABAD : Adani Ports & Special Economic Zone, a part of the diversified Adani Group, crossed 300 million tonne of cargo handling, therebybeatingitsownmilestone.

It took 329 days to reach the milestone, as compared to last year’s 354 days. The ports business of Adani Goup has registered growth since it started operations over two decades

ago & continues to outperform all India cargo volume growth, with its market sharerisingrapidly.

Mr Naveen Prakash, Mr Jiss Mathew, and Mr Asif Mujawar

Global Logistics Solutions India launches Feeder Service linking Chennai to Pondicherry Port

Cont’d from Pg.2

This step is the start of many possibilities which opens the pathway tootherinitiatives.”

Leading this project, Mr Jude Vallabadas, CEO (Projects), Global Logistics Solutions, highlighted that the project will save nearly 30% cost. He shared, “With a cargo capacity of 106 TEUs, this service will help reroute cargo currently taking the road route. The introduction of this feeder ship service will greatly aid in saving time, costsandinreducingpollution.”

Global Logistics Directors’, Mr Jiss Mathew, Mr Naveen Prakash, and Mr Asif Mujawar, signaled this initiative as the start of industrial growth in the Union Territory of Puducherry under the Indian government’s Sagarmala programme focused on encouraging coastal shipping for economic growth. They said, “This service is expected to greatly benefit the Pondicherry and Cuddalore Industrial clusters. Since water transport emits less CO2 than road, the added advantage of this service is the reduction in Green House Gas emission in alignment withtheUnitedNationssustainabilitygoals.”

WeareproudtoseecontainershipHOPESEVENset sail on its maiden voyage. This service will offer twice weekly transhippment service from Chennai Port to PondicherryPortonaregularbasis.

Adani Ports cross 300 MT Cargo volumes to beat its own milestone

Cont’d from Pg.2

“The improvement in cargo volumes is testimony to the faith that our customers have in us,” said KaranAdani,CEO&WholeTimeDirectorofAdaniPorts.

“It shows our commitment to using improved efficiencies and technological integrations to drive and achieve customer satisfaction. The APSEZ’s flagship port, Mundra, is outpacing all its closest rivals by comfortable margins and continues to be the largest port inthenationintermsofvolumeshandled.”

Karan Adani added its infrastructure at Mundra port meetsworldstandardsandprovidesservicelevelsonpar withthoseofitsglobalcompetitors.

Almost 95 per cent of the trade volumes in India are carried through maritime route and world-class mega portsisimperativefortheIndiancoastline,itsaid.

Notably, this year also saw growth in agricultural exports due to India’s record high foodgrain production and the Russia-Ukraine conflict that

openedupopportunitiesforfarmexports.

At a time when the country’s electricity demand is at an all-time high, Adani ports have risen to the occasion and handled the sudden surge of imported coal volumes flowingtoIndia.

“In line with the Government’s vision of RSR (Rail-Sea-Rail) movement of domestic coal, APSEZ) has begun offering coastal coal export solutions to TANGEDCO through its Gangavaram Port. Similarly, it has been supporting the coastal coal movement to NTPC Khudgi by commencement of coastal coal handlingatitsMormugaoTerminal,”itsaid.

Not just business expansion, APSEZ said it has also metitssustainabilitycommitments.

Energy and emission intensity, it said, has been reduced by around 41% and water intensity by 56 per cent from 2016 levels. With its plan to install 250 mega watt of renewable capacity on a captive basis, APSEZ is moving closertoitsgoalofbecomingcarbonneutralby2025.

“The Global nature of Trade will prevail,” says MSC CEO

GENEVA : Speaking for the first time at this year’s Transpacific Maritime Conference known as TPM23, MSC CEO Soren Toft gave a detailed overview of the company’s continued growth, expectations for economic recovery, and efforts to realizesustainableshipping.

Taking place in Long Beach, California, the annual TPM conference is one of the largest and most consequential events for the supply chain and logistics industry. It was the first full-scale physical-only gatheringforTPMsincetheCOVIDoutbreak.

“The world has seen through the supply chain crunch just how important the logistics and shipping industry really is – we keep global trade moving,” Soren said in an interview with the Journal of Commerce’s Peter Tirschwell. “It has really displayed the fundamental role that we have, and customers are now thinking about how to make their supply chain as resilientforthefuture.”

On the back of the pandemic – which Tirschwell declaredtobe“over”asheopenedthisyear’seventtoa record 3500 participants – supply chains and the freight market have normalized and the global economy shouldseesomeimprovementsinthesecondhalfofthe year,accordingtoSoren.

Container shipping will serve as the bedrock for the growth of international trade and commerce, and “global trade will prevail” despite the disruptions of COVID and geopolitical factors, Soren remarked. “The world will continue to be globalized, but with a moredistributedsupplychain,”hesaid.

MSC has invested significantly in renewing its fleet in recent years and will keep on injecting billions of dollars to ensure it can continue to be a long-term partner for customers, Soren said. As “first and foremost” a shipping company, MSC prefers to operate its own ships and will likely see the proportion of chartered tonnage in its fleet decline in the coming months, as well as sending some older shipstoberecycled.

Overall, the impact of improving the operational efficiency of the fleet to comply with the UN IMO’s Carbon Intensity Indicator (CII) may absorb 7-10 percent of the world’s container shipping fleet capacity,hesaid.

When asked about the company’s future plans, Soren acknowledged that MSC’s desire to serve the wholemarketdiffersfromthestatedstrategyofsome other carriers. “We define ourselves on what the customer wants, not on what we want to offer,” he said. The company remains committed to long-term partnerships, and investments that look far into the future, he added, declining to disclose specific details ofthecompany’sstrategy.

“We are a family company, so we think really long term,” Soren remarked. “For us, it is about how we can build the next 53 years of history and not just the next quarter.” This means realizing investments that will ensure the company’s growth, enhancing the fleet and developing productive container terminals. Where customers seek digital solutions, or services via rail, barge, truck and air, MSC can also deliver these,dependingonthecustomer’sneed.

The interview also focused on the urgent task of achieving decarbon-ization across the supply chain. As the world’s largest ocean carrier, MSC endeavours to be a steward of the world’s oceans and to this end has invested substantially in cutting-edge technologies and digital applications to improve energy efficiency. It has also pioneered the use of responsibly sourced blended biofuels and will soon start using liquefied natural gas (LNG) as part of the transition towards net decarbonizationby2050.

Soren lamented the lack of a global carbon price or global research and development (R&D) fund that would have incentivized companies to develop green solutions. He also called on energy companies that are in the process of producing viable alternative green fuels to accelerate the transition and called for further cross-industrycollaborationtoachievethis.

MSC is looking at a multi-pronged approach, deploying several types of net-zero energy sources such as synthetic LNG, green methanol and ammonia, to propel the MSC fleet of the future when these fuels become available at scale. Whatever the solution, a net zero future will add costs to the supply chain and these costs will ultimately be passed on to the consumer, he pointedout.

“Decarbonization is something that we must solve," he said. “This is not something that we maybe should fix, this is something that we absolutely must fix, and I’msurewewill.”

Drivers’ Health and Safety Awareness Programme organised at CONCOR ICD Khodiyar

A Collaborave efforts by CONCOR, TCI Express, ACBA and CILTIndia

AHMEDABAD : With the collaborative efforts of Container Corporation of India Ltd (CONCOR), Transport Corporation of India (TCI), Ahmedabad Customs Brokers’ Association (ACBA) and Chartered Institute of Logistics and Transport (CILT), an event on Road Safety, Drivers’Health,Roadetiquettes,drivers’welfare,Swatch Bharat (Clean India) for the Drivers visiting CONCOR ICDKhodiyarwasconductedon27thFebruary2023.

This was an excellent eye-opening programme for the Truck, Trailer and other handling equipment Drivers by TCI Safe Safar. TCI, a logistics company aims through its ‘TCI Safe Safar’ programme, creating awareness about health&safetyamongstmillions.

The Programme’s main attraction was a specially fabricated eco-friendly truck to engage with its key audience i.e. the truck drivers and members of the transport community. The programme comprised of various skits “Nukkad Natak” about avoiding alcohol during driving, avoiding single use plastic, Avoiding Mobilephonesduringdriving,Roadsafety,Roadetiquette, etc. In addition, all present Drivers, workers and invitees from ACBA, TCI, CONCOR and CILT Members have takenpledgeonHealth&Safetywhiledriving.

The event was graced by Mr. Minaz Nizami, Dy. Commissioner of Customs, Mrs. Vimal Shah Patel, Dy. Commissioner of Customs, Mr. Vishal Patil, Chief Manager,CONCORICDKhodiyar,Dr.DarshanMashroo, Hon. Secretary, ACBA, CILT Members Mr. Vaibhav Shah, Ms. Rachna Gangawar, Mr. Chetan Malkan, Mr.AjayNair,Mr.PradeepSharma,Asst.VicePresident, TCI, Mr. Anand Pandey, Terminal Manager, and Mr. Sunil Kumar, AM/C&O, ICD Khodiyar and senior trademembersandpressmedia.

About 1,55,000 lives are lost and 4,03,000 are injured on Indian roads in 2022, due to road accidents and numbers are almost similar every year. That’s the price India pays everyyear.

Safety is the utmost priority of every organisation and such event will strengthen the safety mission across the country. The message through such awareness programmewillleavedeepimpactonthedriverfraternity &willdefinitelyhelpthemimprovetheirdrivingetiquettes. Theprogrammeaimsto:

? Encouragepeopletofollowhealth&safetynorms

? Create and enhance a safe working environment for everyone

? Make India’s roads safer, every single kilometer atatime

The programme was concluded with distribution of Safety Jackets, Medical and Hygiene kits to the Truck and other handling equipment Drivers and lightrefreshmentbyACBA. The programme was enjoyed by the Drivers/ workers present at the event and well praised by the Customs senior officers, CONCOR officers, Members from ACBA and CILT members who graced the event and encouraged thetruckingcommunity.

l l l NHAVA SHEVA : Tel:27471601/05, Fax:27246415

Continuous Carting at Balmer Lawrie CFS, N.Sheva

Accepting Cargoes from ICD Delhi, ICD Ahmedabad

Accepting Reefer/Chilled Cargoes

Marathon Nextgen, Innova ‘A ’-G01, Opp. Peninsula Corporate Park, Off Ganpatrao Kadam Marg, Lower Parel (W), Mumbai- 400 013. Board Tel. No.: 022-61657900, Fax : 022-61857297, E-mail: info@evergreen-shipping.co.in

COCHIN : Tel:0484-3983999, Fax:0484-3983998

TUTICORIN : Tel:0461-3984999, Fax:0461-3984997/8

E-mail:nxvexp@evergreen-shipping.co.in

CHENNAI : Tel:044-39849999, Fax:044-39849998

E-mail:cenbiz@evergreen-shipping.co.in

E-mail:cokbiz@evergreen-shipping.co.in

E-mail:tutbiz@evergreen-shipping.co.in

NEW DELHI : Tel:011-39849999 (Hunting), Fax:011-39849997/98

E-mail:ndimgt@evergreen-shipping.co.in

AHMEDABAD : Tel:079-39849700,Fax:079-39849998

E-mail:zhdbiz@evergreen-shipping.co.in

BANGALORE : Tel: 080-30542700, Fax:080-30542998, E-mail: icbbiz@evergreen-shipping.co.in

KOLKATA : Tel:033-39829999, Fax:033-39829998

E-mail:ccubiz@evergreen-shipping.co.in

“Service details are subject to change without notice”

“IAN H” V- 31E

The above vessel is arriving at MUNDRA PORT on 07-03-2023 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 :

LALA LAURELNURELN URELNURELN UREL NAA AA AVIGAVIGA VIGAVIGA VIGATIONTION TIONTION TION

Indian importers hedge less, assured by RBI's rupee support, data suggests

NEW DELHI - Indian importers are taking less insurance against foreign exchange fluctuations, data indicates, on expectations that the central bank will continue to intervene to keep the rupee above the key psychological levelof83perU.S.dollar.

Dollar purchases by importers for delivery beyond the spot date dropped in February, according to Reuters calculations based on data by the Clearing Corporation of India.

Importers bought about $1.24 billion daily, on average, in the forward markets this month, down from $1.50 billion in January and from $1.54 billion in the October-December quarter.

"With the RBI active, importers are eyeing the 83 level

and waiting. Instead of forwards, they are looking at options," said Abhishek Goenka, Chief Executive of IFA Global, which manages or advises on over $20 billion worth ofIndiancompanies' forexexposure.

Large importers are looking at the USD/INR call spread option structures, Goenka said. Call spreads protect importers up to a certain price, but cost less than anoutright calloption.

India's trade deficit narrowed to a 12-month low in January, while its service surplus unexpectedly reached arecordhigh.

The country's imports of $50.6 billion in January was less than December's $58.2 billion, November's $56.7 billionandOctober's $58.2billion.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

SHIPS NOT READY FOR BERTH

LIQUID CARGO VESSELS

TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

CONTAINER VESSELS

DUE / IN PORT FOR IMPORT DISCHARGE

ADANI CMA MUNDRA CONTAINER TERMINAL PVT LTD (ACMTPL), MUNDRA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

BLACK SEA, RED SEA, EAST EUROPE & CIS PORTS

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

PORT

NB The data in this Daily pertaining to Ports Information is received by us, sometimes even at the eleventh hour by telephonic messages from the concerned Steamer Agents. Therefore, there is every likelihood of last minute change in the data published the Management of Daily Shipping Times exercise every necessary care & attention in collecting every data & getting it published accurately Inspite of this, if any ommission, inaccuracy or printing error occur in the data published in this daily, the Management of Daily Shipping Times is not responsible or liable.

m.v. “MSC JOANNA” Voy :IP308A

I.G.M. NO. 2336486 Dtd. 25-02-2023

Exch Rate 85.09

The above vessel has arrived on 28-02-2023 at MUNDRA PORT with Import cargo from HOUSTON. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

MUNDRA PORT SEZ

The above vessel has arrived on 28-02-2023 at MUNDRA PORT with Import cargo from BOSTON, HOUSTON. Please note the item Nos. against the B/L Nos. for MUNDRA delivery

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 28-02-2023 at MUNDRA PORT with Import cargo from JACKSONVILLE. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

RELIANCE-SEZ/JAMNAGAR

The above vessel has arrived on 28-02-2023 at MUNDRA PORT with Import cargo from HALIFAX, CAUCEDO, PORT AU PRINCE, ALTAMIRA, BOSTON, CHARLESTON, HOUSTON, JACKSONVILLE, MIAMI, NEW ORLEANS, NEW YORK, PORT EVERGLADES. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

MUNDRA

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 As Agents :

Gandhidham : Siddhi Vinayak Complex, Plot No. 1, Office No. 201-208, 2nd Floor, Ward - 6, Near Rotary Circle, Gandhidham - Kutch 370 201 Gujarat India. Tel : +91-2836-619100 to 616100 (Board)

E-mail : jatin.hadiya@msc.com, niraj.raval@msc.com, operator.gandhidham@msc.com H. O. & Regd. Office : MSC House, Andheri Kurla Road, Andheri (East), Mumbai - 400 059

: +91-22-66378000, Fax : +91-22-66378192, E-mail : IN363-comm.mumbai@msc.com • www.msc.com

Negotiations regarding long-term contract with Chabahar Port in full swing : Sarbananda Sonowal

NEW DELHI : UnionMinister ofPorts,Shipping and Waterways, Sarbananda Sonowal said that India and Iran are negotiating terms of the main contract on longterm usage of Chabahar Port and would look at finalising thesame“asquickly aspossible”.

Chabahar is India’s first overseas port project and the long-term agreement, valid for a period of 10 years and to be extended automatically, is meant to replace an initial pact which covers India’s operations at the Shahid Beheshti terminal in Chabahar port. The initial pact is renewed onanannualbasis.

“We are working on the long-term contract and it will be signed soon,” Sonowal told, but did not mention a timeline within which the contract would be firmed up. “There is no timeline as such for signing the contract. But, we are on the same page on most of the issues. We are in discussions with the Iranian Government,” headded.

Officials in the know said, the long-term contract had previously figured in discussions that took place during Sonowal’s visittoIraninAugustlastyear.

Jurisdiction forarbitrationofdifferences

The issue holding up the long-term agreement relates “only” to jurisdiction for arbitration of differences. Under Iran’s Constitution, such arbitration cannot be referred to foreign courts, and a proposal under the agreement would require a constitutional amendment. Iran reportedly is in favourofremoval oftheInternational Arbitration Clause.

India took up the development of the Shahid Beheshti Terminal under a tripartite agreement on Chabahar signed with Iran and Afghanistan in May 2016. Afghanistan

is effectively no longer part of the arrangements since the takeover of the country by the Taliban last year. India had pledged it would invest $85 million in the terminal and has so far supplied cranes and other equipments worth a few millions.

India continues to equip and operate the container and multi-purpose terminals at Chabahar Port as per the existing arrangements and had recently handed over six mobile harbour cranes to Indian Ports Global Chabahar FreeTradeZone(IPGCFTZ) attheport.

“Also discussed was the need for increased investments. for hinterland development in context of trade corridor through Chabahar from the Iranian authority ,”aministryofficial said.

Budgetallocation

The Union Budget has earmarked100 crore for Chabahar port for FY24. Over the last two years, FY22 and FY23,theoutlayhasbeen100crore,eachyear.

Located in the Sistan-Baluchistan province on Iran’s south eastern coast (outside the Persian Gulf), Chabahar portgives Indiaseaandlandaccess toAfghanistan andthe Central Asian region, bypassing Pakistan. The port is also being built as a gateway to the east and west of the Caspian sea as part of the International North South Transport Corridor.

Earlier in September, the first inter-modal digital International Road Transports (TIR)-based pilot transport between India and Iran through the INSTC corridor was flagged off from Jawaharlal Nehru Port. This facilitates seamless and paperless cross-border transit of goods,underthecustoms guarantee oftheTIRsystem.

MMLP at Indore awarded, to be developed in an area of 255.17 acre near Pithampur in Madhya Pradesh

NEW DELHI - Indore is known as the Commercial capital of Madhya Pradesh due to rich ecosystem, fertile soil and high-quality workforce. MMLP at Indore is being developed in an area of 255.17 acre near Pithampur in Dhar district in Madhya Pradesh. The site is strategically located, near to Pithampur industrial area, Apparel and Pharma cluster and abutting the Indore Tihi- Dahod rail line as well as proposed Mhow ring road, at 30 kms from Indore Airport and Indore city. The estimated total project cost is Rs 1110.58 Crore. The Project is proposed to be developed in PPP (DBFOT) mode wherein a Developer will be appointed with a Concession Period of 45 years for developing and operating the MMLP with an estimated cost of Rs 758.10 Crore. The Project has been awarded to M/SGRInfraprojects Limited.

A Government SPV is being formed amongst National Highways Logistics Management Limited (NHI-ML), Rail Vikas Nigam Limited (RVNL) and Madhya Pradesh Industrial Development Corporation (MPIDC). SPV will provide land for the MMLP, external rail, road connectivity as well as Water and Power supply etc. The MMLP is being provided with 4 lane access from Mhow - Neemach four lane state highway and rail siding of length -6.5 Km from SagoreRailwaystation.

The MMLP will be developed in three phases and target completion of Phase-I is 2 years i.e., by 2025 leading

to commercial operations. MMLP will cater to -12.79 million Metric Tonne (MMT) cargo in the horizon period of 45 years and will give huge boost to the industrial zones in the catchment region such as Indore, Ujjain, Dewas, Dhar, Pithampur, Khandwa and Barwani. It will create lot of employment opportunities and bring in economic development intheregion.

As an outcome of Logistics Efficiency Enhancement Programme study (LEEP), MoRTH in partnership with other line Ministries and State Governments is developing Multi Modal Logistics Parks at 35 strategic locations across the country under the Bharatmala Pariyojana. MMLP is a key solution theme for lowering the logistics cost as percentage of GDP at par with developed countries.

Multi Modal Logistics Park (MMLP) is an integrated facility within which all activities relating to logistics and the distribution of goods, both for national and international transit can be carried out across multiple modes of transport. MMLPs lower transportation cost by enabling a seamless modal shift from road to rail and vice versa, lower handling costs due to presence of best in class modern and mechanized handling infrastructure, reduce secondary freight costs by co-location of container yard, warehouses, silos, cold storages and value-added services alongwithcustomfacility.

India to become 3rd largest economy in the next five years : Piyush Goyal

PUNE : India would become the third largest economy in the world in the next five years and by 2047 could be at the level the United States of America is at present, Union Minister Shri Piyush Goyal said recently.

He also called the Regional Comprehensive Economic Partnership trade deal as a “disaster in the making” and it “was music to my ears” when Prime Minister Shri Narendra Modi said the Country would not bejoiningit.

The Union Minister of Commerce and Industry was speaking at the Asia Economic Dialogue 2023 event in Pune.

“I think in the next four to five years, India will be the third largest economy in the world (from fifth position at present).By2047,wewillbeatthelevelthattheUnitedStatesof Americaistoday.The1.4billionpeopleofIndiaaregoingtomake oureconomyaUSD30-40trillionone,”hesaid.

On India not joining the Regional Comprehensive Economic Partnership trade deal, Mr Goyal said, “It was disaster in the making as we were entering a free trade agreement without a court of appeal, no democracy or rule of law. Except a handful of people, I don’t remember anyone sayingweshouldjoinRCEP,”hesaid.

India was the outlier in the RCEP mechanism as, of the 15 nations in it, India had free trade agreements with 10 ASEAN nations as well as Japan and Korea, and also due to “geopoliticaltensionswithChina”,headded.

In November, 2019, Prime Minister Narendra Modi had announcedthatIndiawouldnotjointheRCEPtradedeal.

Speaking at the RCEP Summit in Thailand, the PM had said negotiations had failed to address India’s outstanding issuesandconcerns.

The RCEP was to comprise 10 ASEAN nations and six of its free trade agreement partners, namely India, China,

Japan,SouthKorea,AustraliaandNewZealand.

Indiaoptedout,withoneofthefearsbeingthefloodingof its markets with cheap Chinese agricultural and industrial products.

Speaking on trade with China, Mr Goyal said the mechanism envisaged at the time would have severely impactedmanufacturinginIndia.

“My own experience is China blocks the door for imports from India, while we here have become weaker and started enjoying low cost, low quality goods (from there). Its somewhere like opium,” he said.

“Between 2004-2014, out trade deficit with China rose from USD 500 million to USD 48 billion. We allowed everything to come in from China while they stopped products from India. Therefore, it was music to my ears when PM Modi said we would not join the RCEPtradedeal,”heasserted.

Every segment of society, the industrial and agricultural sectors, welcomed the PM’s decision on RECP, Mr Goyal said.

National Logistics Policy will bring ease of logistics, says Teamlease Regtech

MUMBAI - The logistics sector is a vital component of any country’s economy. In India, the logistics industry plays a critical role in driving the manufacturing sector. However, dealing with numerous compliances has been a significant issue for the sector, whichhampersitsgrowthpotential.

Recently, the Indian government introduced the National Logistics Policy (NLP) to tackle the challenges faced by the logistics sector. The policy aims to streamline various aspects of logistics, including transportation, warehousing, and inventory management.ThegoaloftheNationalLogisticsPolicyistobring ease of logistics, which will positively impact the sector’s growth andenhancethecountry’seconomicgrowth.

According to Rishi Agrawal, CEO and Co-Founder of Teamlease Regtech, the logistics sector will significantly benefit fromtheNationalLogisticsPolicy.

He noted that the country is already starting to see the policy’s benefits. “The NLP will comprise four major steps including integration of digital systems (IDS), unified logistics interface platform (ULIP) and ease of logistics along with the systems of improvement goods. So some of the work is already gettingdone,thecountryisalreadystartingtoseesomebenefitof it,”hesaid.

Agrawal explained that a single entity has to deal with

multiple compliances in India, which makes it challenging to conduct business efficiently. However, with the National LogisticsPolicy’sintroduction,thelogisticssectorcanexpecta more streamlined process, and the compliance burden will reduce.

The logistics industry is the backbone of India’s manufacturingsector.

“This industry is the backbone of the country’s manufacturing,”hesaid.

It enables the seamless movement of goods across the country and helps industries meet their demand and supply requirements.

Many industries, such as automotive, retail, and ecommerce, are heavily dependent on the logistics sector. Therefore, the National Logistics Policy’s positive impact will have a ripple effect on various industries and further strengthenIndia’seconomicgrowth.

Agrawal believes that if the compliance burden on the logistics sector reduces, the contribution of the logistics sector to the country’s gross domestic product (GDP) will positively increase. This increase will be a result of reduced operational costs and better efficiencies, making the logistics sectormorecompetitiveglobally.

FIATA calls for reasonable free time for Container usage

GENEVA - FIATA International Federation of Freight Forwarders Associations, urges shipping lines to review and reinstate the current free time periods back to no less than feasible, pre-pandemic levels. Whilst the decision to reduce the free time periods was one-sided, market conditions have in the meantime changed, and justifications for status quo no longer remain valid.

Demurrage and detention charges are an important tool for supply chain stakeholders to ensure the efficient use of their container stock which represents a substantial investment. Understanding the need for maintaining the velocity of cargo, containers need to be turned around as fast as possible. Consequently, merchants who use containers for longer periods should be discouraged from this practice. Best practices on this topic can be found in FIATA’s Toolkit on Detention and Demurrage and the Best Practice Guide on Container Shipping and Quality of Containers Vol 2.

FIATA notes that it is the obligation of shipping lines to provide a reasonable free period to allow the merchant sufficient time for:

• the loading and delivery of the container for an export; and

• the pick-up, unloading and return of the empty container for an import.

During the last few years, free time periods for containers have been reduced and tariffs for demurrage and detention have increased considerably. Shipping lines justified shorter free time periods noting that it will increase fluidity and help to ease congestion.Thedecisionforcedmerchantstomakeconsiderable effortstomeetfreetimewindows,leadingtolandsidecongestion, and above all, traffic jams around major ports and terminals. However, merchants have been charged detention and demurrage fees even in situations where they had no control

over the container turnaround time, despite their best efforts, due to congestion at ports.

With reduced volumes shipped, the strain on supply chain bottlenecks came down, and congestion has since eased substantially. The idle capacity of containers that were stuck in congestion are now also coming back into circulation. Industry feedback notes that the combination of older equipment having beenkeptinservice,andproductionofnewcontainersatrecord levels, would lead to a period where the available container fleet outweighsdemandforitsuse.

Need for timely response to changed market environment

A supply chain is stronger when there is dialogue and coordination between stakeholders. No one stakeholder should impose onerous requirements on the others. In this context, the current free time periods limit the scope for proper compliance with the:

•ConventionforSafeContainer(CSC);

• Code of Practice for Packing of Cargo Transport Units as approvedbyIMO/ILO/UNECE

Inaddition,FIATA(andco-sponsors)encouragesshipping linestotakeaseriouslookintothequalityoftheequipmentto:

• retire equipment that is beyond its natural economical lifecircleandmaynotbe“fitforpurpose”;and

• use the period to pro-actively review equipment, to maintain and repair it and ensure that it complies with appropriatestandardsforcontainerquality.

FIATA calls for detention and demurrage practices to be in line with the velocity principle, with multi-stakeholder coordination to respond to market needs in a timely manner to strengthen supply chain resilience. Now is the time to act to optimisecontainermovementsandimprovecontainerquality for future use.

New Shipping service links Dammam Port with India & Iraq

RIYADH : A new shipping service has been added to Dammam’s King Abdulaziz Port linking it with India and Iraq,theSaudiPortsAuthoritysaidrecently.

The India-Saudi-Iraq service was added by the BengalTigerLine,aSingapore-basedcompany,itadded.

The addition affirms the authority’s goal to “improve the maritime navigation network’s connectivity index withinternationalshippingservicesandshippinglines.”

This also aligns with the goals and objectives of the NationalStrategyforTransportandLogisticsServicesto consolidate the Kingdom’s position as a global logistics centerandaconnectinghubforthethreecontinents.

The ISI connects the King Abdulaziz Port with the Indian port Mundra and the Iraqi port Umm Qasr, with a

carryingcapacityof929standardcontainers.

In January, the ports authority approved five new shippingserviceslinkingtheKingdomwithasmanyas43 internationalports.

The five new services are projected to support commercial traffic, strengthen the national imports and exports system, as well as provide alternatives for importers,exporters,andshippingagents.

In addition, the new services will enable the authority to back the logistics system and upgrade the services of importers,exporters,andshippingagents.

The five new services are dispersed across three Saudi ports — Jeddah Islamic Port, King Abdulaziz Port inDammam,andJubailCommercialPort.

RCL reports record prot for 2022

THAILAND : Regional Container Lines (RCL) credits strict cost control and the sale of five vessels for a record profit in 2022 despite freight rates falling to “normalpre-covid”levelsbythefourthquarter.

Thai-listed RCL reported a net profit of THB 24.6bn in 2022 up 37% over the previous year. Revenues were alsoup37%year-on-yearatTHB53.2bnin2022.

The line noted that for the year as a whole freight rates were up 24%, however, volumes grew by just 1.4%. Although the year average freight was up, rates had fallen from their highs in the second quarter of last year to“normalpre-covid”levelsbythefourthquarter.

The container shipping market was also impacted by high bunker prices, inflation, high-interest rates, a looming recession and disruption in supply chains, as

wellasgeopoliticalconflicts.

Nevertheless,theCompanyhasbeenabletomaintain the profits with strict cost control practices as well as improved the fleet profile effectively by selling the five retired vessels in 2022, in which THB900 million has been includedasanextragain,”RCLsaid.

Looking ahead the company commented: “As the container shipping industry’s performance mainly depends on freight rate and total lifting, the company continues to carefully monitor and manage its business strategies to be in line with the downtrend in freight rate as well as continues to put efforts to manage its services networkalongwithfleetoptimisation.”

RCL owns a fleet of 42 container vessels with a total capacityof87,450TEU.