GUJ-05-06-2023

Allcargo Group Announces Key Appointments in Senior Leadership

Positions Post Recent Demerger

KEY APPOINTMENTS:

•Mr. Shashi Kiran Shey has been redesignated as Execuve Chairman of Allcargo Logiscs Limited

•Mr. Adarsh Hegde as the Managing Director of Allcargo Logiscs Limited

•Mr. Suresh Kumar as the Managing Director of Allcargo Terminals Limited

•Mr. Pirojshaw Sarkari as the Managing Director & CEO of Ga KWE and the Managing Director of Allcargo Supply Chain Limited

•Mr. Jan Chokshi as the Managing Director of TransIndia Real Estate Limited

•Mr. Kaiwan Kalyaniwalla as the Chairman of Allcargo Terminals Limited

•Mr. Mohinder Bansal as the Chairman of TransIndia Real Estate Limited

MU MB AI : Allcargo Group, the Indian-born global logistics conglomerate, is de li gh te d to announce several significantappointmentsinkeyleadershippositionswithinthe organisation. These strategic appointments post demerger, reinforce for growth. These appointments exemplify Allcargo Group's commitment to driving expansion and enhancing its presenceinthedynamiclogisticsindustry.

Mr. Shashi Kiran Shey Mr. Adarsh Hegde

Allcargo Group Announces Key Appointments in Senior Leadership Positions Post Recent Demerger

Cont’d. from Pg. 3

Mr. Adarsh Hegde, who is the Joint Managing Director, based out of Mumbai has been with the organization for over 30 years, has now been promoted to the position of Managing Director. The day-to-day operations of the company is managed by the CEO and group of CXOs based in different parts of the world. Adarsh will provide the strategic leadership, functional management and value creation opportunities together with helping the group implement technology anddigitalinitiatives.

Mr. Suresh Kumar is another senior professional with diverse experience in managing businesses and has been with the group for nearly three years. He has led the group’s CFS-ICD business as CEO and will now join the board of the newly demerged company, Allcargo Terminals Limited and take on the role of Managing Director. He will be responsible for value creation by driving growth in the CFS and ICD business and other potential opportunities in port sector, terminals, Multimodal Logistics Parks (MMLPs), Special Economic Zones (SEZ), and other related businesses. Suresh will continue to lead the group’s ESG initiatives and the marketing&communicationfunction.

Mr. Pirojshaw Sarkari (Phil), has been appointed as the Managing Director & CEO of Gati-KWE as well as the Managing Director of Allcargo Supply Chain. Phil has joined the boards of both companies and will spearhead the express distribution and contract logistics business. Allcargo has recently acquired 30% stake in Gati KWE and the balance 30% stake is already owned by our listed subsidiary Gati. Allcargo now owns 100% of contract

logistics business, which we believe is also a very high growth business. Phil is an industry veteran and will drive the synergyandgrowthinthesebusinesses.

Mr. Jatin Chokshi, who has been associated with Allcargo Group for over two decades and worked in various capacities, most recently leading the real estate business and earlier as CFO and CEO of a business vertical, will join the board of TransIndiaRealEstateLimitedasitsManagingDirector.

Mr. Kaiwan Kalyaniwalla, a highly accomplished senior solicitor and well regarded in the country, will serve as the ChairmanofAllcargoTerminalsLimited.

Mr. Mohinder Bansal, who is an entrepreneur par excellence and a veteran in financial and strategic managementconsultingforover35years,andhasheldsenior corporate roles in large Indian and multinational companies, has been appointed as Chairman of TransIndia Real Estate Limited.

Mr. Shashi Kiran Shetty, Founder & Chairman of AllcargoGroup, said,“Iextendmyheartfeltcongratulationsto these exceptional leaders, and I am confident that the entire group joins me in this celebration. This significant milestone marks a new chapter in the illustrious history of the Allcargo Group, as we embark on a journey of professionalising our operations while cherishing our accomplishments as India's largest logistics company and a prominent player in the top20globallogisticscompanies.Iconveymybestwishestothe entire team and eagerly anticipate working even more closely witheachandeveryoneofthem."

These appointments reflect Allcargo Group's commitment to strengthening its leadership team and driving excellence across all business verticals. The group remains dedicated to delivering superior logistics solutions andunlockingnewopportunitiesforgrowth.

Yang Ming orders 5 LNG-fuelled Boxships

KEELUNG:YangMing Marine Transport and Hyundai Heavy Industries (HHI) have signed a new shipbuilding contract for five 15,500 TEULNGdual-fuelcontainervessels.

These new vessels are scheduled to be delivered in 2026, aspartofYangMing’smid-longtermfleetplan.

“In response to the maritime net zero carbon emission target by 2050, Yang Ming is continuously building a green and energy-saving fleet. On top of implementing energyefficiency retrofits and management on the existing fleet, a dedicated desk has been set up to monitor energy efficiency andthedevelopmentoffuturemarinefuels,“saidYangMing.

“These five 15,500 TEU vessels, to be built by Hyundai Heavy Industries, will be equipped with high-pressure LNG dual fuel main engine and ballast water treatment system to meet the latest environmental regulations. In addition, these vessels will feature an advanced integrated system for navigational information and operation monitoring, as well as broadband maritime satellite system. These technologies are integral for collecting navigational bigdataandenhancingthesafetyofthevessels,”itadded.

Yang Ming currently operates a fleet comprising 94vessels,withacapacityofapproximately715,000TEU.

DPA Kandla reached another milestone by berthing Oil Tanker with record draft of 12.8 mtrs

GANDHIDHAM : Deendayal Port Authority, Kandla reached another milestone on Wednesday by berthing of MT STI MIGHTY at Oil Jetty 07 with the draft of 12.8 mtrs. This is the record draft for berthing of an Oil Tanker at Kandla. This tanker carried 35277 MT of CDSBO(CrudeDegummedSoyabeanOil).

The tanker with overall length of 183.07 Mtrs safely piloted by Capt. Nitin Nanda. By berthing of such deep draft tankers, DPA will achieve new cargo handling heights which will ultimately enhance Nation’s Economy.

GTI (APMT Mumbai) appoints Kumar Divya as CCO

MUMBAI :

Gateway Terminals India

(APMT Mumbai) announce the appointment of Mr. Kumar Divya as Chief Commercial Officer [CCO] of GTI effective June 1, 2023. In his enhanced role, Mr. Kumar will lead the commercial team of GTI [APM Terminals Mumbai] and willcontinuetoengagewithcustomers.

Mr. Kumar joined APM Terminals

Pipavav in April 2018 as General Manager, Commercial (Bulk & RORO) and then moved to head the Customer Care function of APM Terminals India. Prior to joining APM Terminals, he had a strong tenure with Tata Steel as Sr. Manager Contract Administration and two stints in Business Development with the ports of Dhamra and Karaikal. He began his career as a marine engineer onboard merchant vessels. Kumar will continue to be based out of GTI atNhavasheva.

APM Terminals Pipavav Update – Impact on Port operations and Vessel Schedule

COPENHAGEN: As the strong winds had hit Gujarat coast on Monday 29th May 2023, we have seen a major impact on Port operations and delays in the Vessel schedules as the strong winds uprooted the power transmissiontowersofGujaratElectricityTransmission Company Limited (GETCO) which resulted in the disruption of the grid power supply, informs a statement fromMaersk.

“While the situation is being monitored closely by us, we would like to share the detailed update on the port disruptions and the Vessel Schedule as on June 2nd 2023.”

PortOperations

• Port operations are impacted owing to the power failure at the port. On 29th May 2023 evening strong winds uprooted the power transmission towers of Gujarat Electricity Transmission Company Limited (GETCO) outside the port area resulting into disruptionofthegridpowersupply.

• As per GETCO, the complete restoration of grid power supply is likely to take place by 8th June. Meanwhile, the port has commenced partial operations through its captive power plant and the DGsets

• Rail side operation is partially started with Reach Stacker. Main ICD Operation is halted due to inactive RMGC.Duetothis,ForthecontainerslyingatRMGC Yard, Import Loaded Containers Delivery & Empty Containers Delivery is stuck. Manual Reach Stacker OperationisnotpossibleduetoRailwayTracksetup.

• Owing to the current situation, the container berth

willremainnon-operationaltill2359hoursof5thJune 2023.

• The port may handle the container vessel earliest by 8thJune2023subjecttoregularizingpowersupply. ImpactonourServices:

• SHAHEEN Vessel S3R GFS PRESTIGE 321E - 322W 336-F4INPPVETA02-06-2023omittingPipavavcall.

• MECL Vessel Q4B MAERSK ATLANTA 315E - 321W 600 - M3 INPPV ETA 02-06-2023 omitting Pipavav call and calling Mundra on 02-06-2023. Imports will be discharged for movement to ICD`s and local Pipavav containers will be loaded on next week`s Shaheen ExpresstodischargeatPipavav

• FM-3VesselR8LSOFIAI319W-322E309-F5INPPV ETA 04-06-2023 omitting Pipavav call and calling Mundra on 06-06-2023. Imports will be discharged for movementtoICD`sandlocalPipavavcontainerswill be loaded on next week`s Shaheen Express to dischargeatPipavav.

• Jade Vessel D6D EM ASTORIA 322S - 322S 305F5INPPVETA04-06-2023omittingPipavavcall.

ImpactontheExportcontainersatportorICD`s:

• Efforts are being made to move the containers at respective ICD`s to be moved to Mundra for further sailingandwillkeepyouposted.

• We are exploring the option to move the containers lying at Pipavav port to Mundra, discussions ongoing with authorities to allow movement. You shall hear moresooner.

• Movement of containers for Pipavav load port are currentlystrandedtillfurthernotice.

Mr. Kumar Divya

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 05/06/2023

Cargo Steamer's Agent's ETD Jetty Name Name CJ-I Theotokos Chowgule Bros. 07/06 CJ-II First Bridge Ocean Harmony 06/06 CJ-III Teacher O DBC 06/06 CJ-IV Charbel Trueblue Shpg. 06/06 CJ-V VACANT CJ-VI Izanagi Harmony Rishi Shpg. 08/06 CJ-VII Black Pearl Chowgule Bros. 07/06 CJ-VIII Gramba Dariya Shipping 08/06 CJ-IX Abram Schulte Seascape 06/06 CJ-X Clara Insignia Interocean 07/06 CJ-XI VACANT CJ-XII SCI Mumbai JMBaxi 06/06 CJ-XIII Yara J DBC 08/06 CJ-XIV Ocean Tianbao Mystic Shpg. 06/06 CJ-XV Kang Yao Cross Trade 07/06 CJ-XVA Bulk Guatemala ACT Infra 07/06 CJ-XVI Meghna Harmony BS Shpg. 07/06 Tuna Tekra Steamer's Name Agent's Name ETD Harvest Xin Bin Hai Dariya Shpg. 06/06 Oil Jetty Steamer's Name Agent's Name ETD OJ-I Jag Vikram ISS Shpg. 06/06 OJ-II Global EOS JMBaxi 06/06 OJ-III Meghna Pride OJ-IV Penna Samudra 06/06 OJ-V VACANT OJ-VI VACANT OJ-VII Bougainville Interocean 06/06

SHIPS SAILED WITH NEXT

VESSELS IN PORT & DUE FOR EXPORT LOADING

NOT READY FOR BERTH

Nos.

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

ETA Vessels Name Agent To Cargo Details VCN No. Manual IGM EDI IGM

GENERAL 06/06 Akij Star Cross Trade 42,750 T. Salt In Bulk Stream Algrace Delta Waterways 12,000 T. Clay In Bulk 2023051204 CJ-IV Charbel Trueblue Shpg. 25,500 T. Rice In Bags 2023051442 05/06 Desert Pioneer Samsara 46,000 T. Millscale In Bulk 2023051414 CJ-II First Bridge Ocean Harmony Hazira 13,000 T. Sugar In Bags 2023051291 06/06 Happy Diamond JMBaxi Houston 274 T. P. Cargo 2023051450 (31 Pkgs. / 2,225 CBM) CJ-XV Kang Yao Cross Trade 51,000 T. Salt In Bulk 2023051371 CJ-XVI Meghna Harmony BS Shpg. 54,100 T. Salt In Bulk 2023051371 CJ-XIV Ocean Tianbao Mystic Shpg. 839 T. Windmill Blade 2023051401 (24 Nos./37,509 CBM) 05/06 Pegasus 02 DBC Sudan 8,200 T.Sugar/Rice/Wheat Flour In Bags 2023051381 05/06 Suvari Kaptan DBC Sudan 9,000/500 T.Sugar/Rice In Bags 2023051403 CJ-III Teacher O DBC Yemen 10,000 T. Rice Bags (25 Kgs) 2023051383 CJ-I Theotokos Chowgule Bros. China 52,300 T. Slat In Bulk 2023051398 CJ-XIII Yara J DBC Sudan 33,000 T.Sugar In Bags (50 Kgs) 2023051390 CJ-XII SCI Mumbai JMBaxi Jebel Ali I/E 1.500 TEUs 2023051171 10/06 SCI Chennai I/E 1.500 TEUs 2023051334 Stream Aysan Armita Shpg. Bandar Abbas I/E 700/600 TEUs. 378 2344360 Stream Elyana I/E 600/600 TEUs. 2023051408 06/06 Arzin I/E 800/800 TEUs. 2023051409 TBA (PIC-I) Transworld Coch./Tuticorin/Mang. I/E TEUs. TBA (PIC-II) Chenn./Vishakha./ I/E TEUs. TBA Haldia I/E TEUs. 10/06 TCI Anand 007 TCI Seaways Manglore/Cochin/ I/E TEUs. 05/06 TCI Express 007 /Tuticorin I/E TEUs. 05/06 GFS Precious ULSSL I/E 500 TEUs. 2023051412

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

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

TO LOAD FOR U. K. NORTH CONTINENT, MEDITERRANEAN, BLACK SEA, RED SEA, EAST EUROPE & CIS PORT

GUJARAT + NORTH INDIA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

LOAD FOR U.K. NORTH, MED., BLACK SEA, RED SEA, EAST EUROPE & CIS PORTS

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

OTHER PORTS OF GUJARAT

JAMNAGAR (BEDI) PORT

(As on 05-06-2023)

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.

HH H We are not responsible for any mistake. ALL RATES ARE PROVISIONAL. The rates in this column are only meant for guidance.

NOTICE TO CONSIGNEES

The above vessel has arrived on 02-06-2023 at MUNDRA PORT with Import cargo from SHUWAIKH. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 02-06-2023 at MUNDRA PORT with Import cargo from VARNA, DAMIETTA, SHUAIBA, SHUWAIKH, MESAIEED, JUBAIL, ANTALYA, SAMSUN

Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

Item No. B/L No.

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

m.v. “MSC FLAVIA” Voy : IS322A

I.G.M. NO. 2345417 Dtd. 01-06-2023

Exch Rate 85.32

The above vessel has arrived on 03-06-2023 at MUNDRA PORT with Import cargo from FELIXSTOWE, LIVERPOOL. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

GANDHIDHAM

The above vessel has arrived on 03-06-2023 at MUNDRA PORT with Import cargo from ANTWERP, LA SPEZIA, ROTTERDAM.

Please note the item Nos. against the B/L Nos. for MUNDRA delivery

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 03-06-2023 at MUNDRA PORT with Import cargo from ANTWERP, HAMBURG, LUBECK, SOKHNA PORT, BARCELONA, HELSINKI, RAUMA, FELIXSTOWE, GREENOCK, LIVERPOOL, TEESPORT, LA SPEZIA, ROTTERDAM, GAVLE, HALMSTAD.

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

PM Modi inaugurates UP’s first land port in presence of Nepalese PM

NEW DELHI : PM Narendra Modi recently virtually inaugurated Uttar Pradesh’s first land port, also called an integrated check post, at Rupaidiha in Bahraich district in the presence of Nepal PM Pushpa Kamal Dahal Prachanda. Soon after the inauguration, a truck from the Nepal side was sent to the Indian Land Port Authority of India, while a truck from the Indian side was sent to Nepal InternationalTransportLandPortofNepal.

The check post, established with a cost of Rs 200 crore, will further strengthen the business relationship between IndiaandNepalasthevolumeoftradeisexpectedtogoup significantly with the number of trucks passing through thisborderdailysettoincreasefrom200toatleast300.

passenger and cargo terminals, quarantine blocks, warehouse, washrooms, canteen, sewage treatment plant andundergroundwatertank.

Nepal Intermodal Transport Development Board will operatetheportinNepalwhileLandPortsAuthorityofIndia will manage it on the Indian side, said Sandeep Gupta, Manager of Land Port Authority of India. The port has

A2.2-kmlongfeederroutewilllinktheportwithNH-927 which connects Barabanki to Rupaidiha border The Bhumi Pujan of the land port to be built on Sonauli border of Maharajganj district was also conducted simultaneously.Officersofboththecountrieswerepresent on the occasion. District magistrate Monika Rani and superintendent of police Prashant Verma of Bahraich district were present at Rupaidiha border.. The Sashastra Seema Bal personnel will guard the land port and CCTV camerashavebeeninstalledaroundit.

Huge opportunities to open up when exports touch $2 trn by 2030: Piyush Goyal

NEW DELHI: Commerce and Industry Minister

Piyush Goyal recently said huge opportunities for people and businesses will be opened up when the country’s goodsandservicesexportstouchUSD2trillionby2030.

In the last two years, he said the country’s exports jumpedfromUSD500billiontoUSD767billionin2022-23.

India is a USD 3.5 trillion-economy today and will become at least USD 35 trillion- economy by 2047 and “imagine what opportunities it will open up for all the peopleofIndia,”hesaid.

According to him, by 2030, “we will see USD 2 trillion of exports from India, imagine the opportunities that it will openup”.

KOCHI : Cochin Port continues to be on the growth trajectory by registering record cargo traffic of 35.255 million tonnes in FY23, which is the highest cargo traffic recorded.

In spite of an overall strain in the exim trade through the hinterland, the traffic volume registered a modest growth of 2.04 per cent over the previous fiscal. Mr. Vikas Narwal, Deputy Chairman, said the growth was due to the higher traffic of liquid bulk cargo (21.80milliontonnes)primarilydrivenbycrude,petroleum productsandLNG.

The principal dry bulk cargo (2.33 million tonnes) includes cement, fertilizer and salt whereas alumina, steel coils and defence cargo are the major break bulk commodities handled at the port. Of the total traffic of 35.255 million tonnes, he said 34 per cent was coastal trade andtheremaining66percentwasforeigntrade.

Referring to revenue-wise growth, Narwal said for the first time, the port clocked 6 per cent growth in gross revenue at Rs. 800 crore. The revenue last year was

At a Event, the Minister also said the country’s economy is growing at a faster pace and it is clearly reflectedfromthe7.2percentGDPgrowthin2022-23.

“India is in the mode of stability with a proactive government strengthening every element of the economy in a manner which will hold us in good stead in our pursuit to make India a developed nation by 2047,” he said, adding that“thisistheworkinprogress”.

India’sexportscontractedby12.7percent,thirdmonth in a row, to USD 34.66 billion in April due to the global demand slowdown even as the trade deficit reduced to a 20-month low of USD 15.24 billion, according to the governmentdata.

Rs.761crore.Theportcontinuestogenerate40-45percent operating profit. However, higher fuel cost made a dent on dredging cost, which went up to Rs. 125 crore against Rs.85crorelastyear.

“The total container traffic was 695,230 TEUs during the fiscal compared to 735,577 TEUs during 2021-22. The drop of 5.49 per cent in the container traffic was due to the diversion of coastal containerised cargo to the rail mode owing to lower rail freight compared to higher sea freight. However, this trend will be arrested with the introduction ofnewlinerservices”,hesaid.

Of these, 35,7928 TEUs were exim boxes (51 per cent) and 33,7302 TEUs coastal traffic (49 per cent). Thetransshipmentvolumesstoodat104,666TEUs.

After a hiatus of two years of Covid disruption, the port witnessedasurgeinthecruisebusiness,hosting16foreign cruises and 15 domestic cruises. There is a 29 per cent increase in the average passenger in the domestic cruise calls which is indicative of the growing interest among the massestowardscruisetourism,hesaid.

Cochin Port achieves record cargo traffic of 35.255 mt in FY23

JPMorgan raises 2024 economic outlook for India, but remains cautious of Global headwinds

MUMBAI: JPMorgan increased its 2024 economic forecast for India — but only marginally — saying the country’s growth will be affected by a slowdown in global growth momentum.

The investment bank raised its 2024 growth forecast from 5% to 5.5%. The revision follows the latest gross domestic product data this week which showed the Indian economy accelerated 6.1% in the January to March quarter, an increase from 4.5%thepreviousquarter.

Theeconomystartedtheyearona “very strong note as growth came in much faster, or much higher, than what market consensus were,” DBS Bank Senior Economist RadhikaRao said.

The South Asian nation’s strong

growth was driven by a pick up in domestic demand for goods and servicesaswellasstrongexports.

“Wehavebeenflaggingthecontinued strength of India’s service exports and how goods exports were also doing cyclically better than had been expected,”JPMorgansaidinanote.

Economies that are heavily dependent on trade are losing momentum, she said, but those like India that have been focused on “organic drivers” of growth are faring better. However, JPMorgan still remains cautious on the country’s growthprospectsnextyear.

Although the government has announcedaboostincapexspending, it will take time for that to translate into a broader private investment cycle.

Investments from India have not “moved very much” in the last few years, said Jahangir Aziz, Chief of Emerging Market economics at JPMorgan.

“In the last six months, we’ve seen a perceptible drop of foreign direct investments across the world,” Aziz said, adding that FDI in both ChinaandIndiahavedipped.

“Private investments in India have essentially flatlined … And public spending from the government’s investments have flatlined at 7% for the last 10 years,” hehighlighted.

The investment bank also expects exports from India to decrease as global growth slows with more advanced economies heading toward arecession.

Vizag Port Authority creates two records, handled highest throughput and vessels in May 2023

VISAKHAPATNAM: The Visakhapatnam Port Authority (VPA) created two new records in the month of May by handling the highest number of containers ever recorded in a month in its container terminal, surpassingthepreviousrecords.

Visakha Container Terminal Private Limited (VCTPL), the PPP / BOT Operator of Vizag Port, handled

arecordthroughputof61,468 TEUsin the month of May 2023, which is the highest TEU record in a month surpassing the previous best of 56,578 TEUsinMarch2023.Thelengthofthe ContainerTerminalis390meters,and aBeamof42meters,withaDraftof16 meters,depth.

VCTPL also achieved another record by handling 49 vessels in the

same month of May, which is the highest number of vessels handled record in a month surpassing 42vesselshandledinApril2023.

The VPA Chairperson Dr M Angamuthu appreciated the officials and the Terminal Operator in achieving the new record. He also advised the port employees to do teamworktoscalenewrecords.

India’s April finished steel imports from China hit five-year high

NEW DELHI: India’s finished steelpurchasesfromChinatoucheda five-year high in April and the country’s overall imports of the alloy reachedafour-yearhigh,accordingto provisionalgovernmentdata.

In April, China emerged as the second-biggeststeelexportertoIndia by shipping out 0.1 million tonnes, up 79 per cent year on year. Imports from China accounted for nearly a quarter of India’s overall finished steelimportsinApril.

India imported 0.5 million tonnes of finished steel in April – the highest since 2019 – up 38.2 per cent from a yearearlier,thedatashowed.

China, the world’s largest steel

producer, exported mostly cold-rolled sheets – used in the automobile, white goods and consumer durable sectors. India also imported electrical sheets andpipesfromChina,thedatashowed.

In April, South Korea was the top exporter of finished steel by shipping out 0.2 million tonnes, accounting for 32percentofIndia’soverallimports.

However, India, the world’s second-biggest crude steel producer, was a net exporter of finished steel in April, with 0.9 million tonnes sold to top buyers such as Italy, Spain, Vietnam, Nepal and the United Arab Emirates,thedatashowed.

In April, India’s steel exports to Italy reached their highest

levelinsixyears.

Europe is a crucial market for India’s steel, and Indian steelmakers are concerned over the European Union’s plans to impose a levy on high-carbon goods imports from 2026, targeting imports of steel and a few othercommodities.

Domestically, India’s crude steel production stood at 10.7 million tonnes in April, up 3.2 per cent from a yearearlier.

India’s steel consumption is expected to grow by 7.5 per cent during the current fiscal year to March2024,boostedbyrisingdemand from the domestic construction, railwayandcapitalgoodssectors.

Dhanbad division Tops among 58 divisions in Freight loading in first 2 months of FY24

NEW DELHI: Dhanbad rail division under the East Central Railway (ECR) has again set a new record in freight loading and earning in the first two months of the current financial year, an officialsaidonFriday.

The Divisional Railway Manager (DRM) of Dhanbad Division, Kamal KishoreSinha,saiditisthehighestamong 58raildivisionsacrossthecountry.

InAprilandMayoftheongoingfiscal,

Dhanbad Division registered a freight loading of 31.18 million tonne, which is 9.13percenthigherthanthelastfiscal,he said. The division had achieved a freight loading of 28.57 million tonne in the first twomonthsof2022-23.

The Dhanbad division has earned Rs 4,143. 56 crore from freight loading in the first two months of the current financial year which is 13.7 per cent more than April-May of the previous

financialyear,headded.

In the 2022-23 fiscal also, the division had set a record in freight loading and revenue earning among all 58 divisions inthecountry.

The division had registered freight loading of 171.32 million tonne and earned a revenue of Rs 23,006 crore in the previous fiscal, which was also the highest among all the rail divisions of theCountry.

Inter-Ministerial consultation on for New Industrial Policy: DPIIT Secy

NEWDELHI:AnInter-Ministerial consultation is going on for formulation of a new industrial policy, whichwouldaimatbuildingaglobally competitive business environment to increase manufacturing and exports, a Top Government official has said. This would be the third industrial policy after the first in 1956 and the secondin1991.

It is likely to replace the industrial policy of 1991 which was prepared against the backdrop of the balance of paymentcrisis.

“The policy is in the process of Inter-Ministerial consultation…It will focus on newer set of industries that has now come,” Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said recently.

The proposed policy is likely to

suggestreformstofosterandcreatea globally progressive, innovative and competitiveindustrialecosystem.

The six core objectives of the policy may include focus on competitiveness and capability; economic integration and moving up the global value chain; promoting India as an attractive investment destination in the world; nurturing innovation and entrepreneurship; and circular and sustainable ecosystem.

After the completion of the consultations, the Department is likely to approach the Union Cabinet foritsapproval.

Whenaskedabouttheprogresson revisingWholesalePriceIndex(WPI) base year from 2011-12 to 2017-18, Singh said it is also in the process of inter-ministerialconsultation.

Revising the base year would help

in presenting a more realistic picture ofthepricesituationintheCountry.

The Department in June 2021 had issued a draft technical report of a working group, which suggested revising the base year and addition of about 480 items such as medicinal plants, pen drive, lifts, gymnasium equipment, and certain motorcycle enginesinthenewseries.

At present, the index has a total of 697 items, including primary articles (117), fuel and power (16) and manufacturedproducts(564).

WPI revision is a periodic exercise. The current revision process of WPI base year has been undertaken to incorporate the structuralchangesintheeconomy.

Two major indices are used for tracking price movement — Wholesale Price Index (WPI) and ConsumerPriceIndex(CPI).

MSRDC to set up 5 Logistics hubs along Pune ring road

PUNE: The Maharashtra State Road Development Corporation (MSRDC)planstoestablishaminimum of five logistics hubs along the 172km Pune ring road as it connects eight nationalhighways/expressways.

The agriculture and manufacturing sectors would greatly

benefit from these logistics hubs, which will be situated along the expressways throughout the state. Most highways across the country incorporate multi-modal logistics parksinthehubandspokemodel.

Currently, MSRDC has officially designated18locationsonSamruddhi

Mahamarg for logistics hubs, townships, and Krishi Samruddhi Kendras. Similarly, the Mumbai Metropolitan Region Development Authority has notified nine townships along the multi-modal corridor. The Pune ring road will follow the same approach.

Paradip Port touches new highs during 9 years of Modi Govt

PARADIP: Commemorating the occasion of the Modi Government’s nine years in office, Paradip Port Authority (PPA) Chairman PL Haranadh recently highlighted the growth saga of Indian Major Ports and especially that of Paradip Port whileinteractingwiththelocalmedia.

Under the “Sagarmala” Programme announced by Prime Minister Narendra Modi in March 2025, Paradip Port has implemented several capacity expansion projects on BOT basis with a total investment of Rs. 3260 crore in the last nine years, informed the PPA Chairman.

PPA invested Rs 430 crore for Clean Cargo & Container Berth of 5 MMTPA capacity, Rs 740 crore for development of new Iron Ore Terminalof10MMTPA,Rs.1440crore in mechanization of 3 existing berths (EQ) of 30 MMTPA to handle coal exports, and Rs 650 crore for development of a New Coal Import Berth of 10 MMTPA capacity, Haranadhelaborated.

The 82-km long HaridaspurParadip Railway line connecting Paradip Port and the rich Iron Ore

mining hinterland in the Keonjhar area has been completed at a cost of Rs. 3200 crore, reducing the distance from Paradip to Kalinganagarclusterofsteel plantsandIronOremines.

The PPA Chairman further said that by leveraging port-led industrialization, Paradip Port has successfully attracted investmentsworthRs8,754croreforthe development of 769 acres of portland. Thisstrategicinitiativewillfacilitatethe establishment of industrial facilities with a combined capacity of 50.6 million metric tons per annum (mtpa) and generateemploymentopportunitiesfor over3,700individuals,headded.

Paradip Port has planned 99 initiatives under the Maritime India Vision 2023, at an investment of Rs.16,743 crore, out of which around 42 initiatives have already been completed,Haranadhsaid.

The Major Port Authority Act 2021 has provided requisite dynamism and flexibility to improve competitiveness and efficiency under the current competitiveenvironment,headded.

Paradip Port is emerging as a Mega Major Port on the east coast of India to handle the export-import Traffic of its hinterland with high standards of productivity and low logisticcosts.

The capacity of the Paradip Port has been augmented by 55 million metric tonnes per annum (MMTPA) toapresentcapacityof289.5MMTPA. The overall Output per Ship Berthday (OSBD) has improved from 18,179 Metric Tonnes to 31,050 Metric Tonnes. The Turn-Round-Time (TRT) has improved from 111 hours to 47.9 hours. Similarly, there has been reduction in Handling Cost from Rs. 62.39 per tonne to Rs. 57.60 pertonneresultinginimprovementof Operating Ratio from 60.1 per cent to 38percent,thePPAChairmansaid.

Nitin Gadkari inaugurates two National Highway projects in Vadodara, Gujarat worth 48 crore

VADODARA: Union Minister for Road Transport and Highways

Shri Nitin Gadkari inaugurated two National Highway projects in Vadodara, Gujarat on Friday built at a cost of Rs. 48 crore the, Bhumi Pujan of these projects was done a year and a half ago on the birthday of Hon’ble Prime Minister

Shri Gadkari said improvement work has been done near Dumad Chowkdi of Ahmedabad-Vadodara section of National Highway 48 He said this project of about 3 km length has been inaugurated at a cost of Rs 27.01 crore. The Minister said in this, n e w s e r v i c e r o a d s , v e h i c u l a r underpasses and RCC crash barriers have been built, which will solve the problem of traffic jam and make the journeymoresafe.

Shri Gadkari said the length of t h e s e c o n d project costing Rs 17 crore to be dedicated to the nation is about 1 km He said in t h i s p r o j e c t , underpass and serviceroadhave been constructed near National Highway 48 Dena Junction of Vadodara TheMinistersaidunderthisproject,solar powered street lights have been used for the first time on National Highway 48 PolymerModifiedBitumenhasbeenused intheunderpassandserviceroadsurface which will give it greater strength and betterresistancetocracks,headded

Shri Gadkari informed that for the first time in this construction, a 3-lane service road has been constructed. He said the projects will provide better connectivity to Dena, Harini, Virod villages, making this accident prone area safer for traffic and movement from industrial areas will be more accessible.

CGST Kutch Commissionerate Collects Highest Ever Revenue

Of Rs. 387.92 Crores In March, 2023

K U T C H : C G S T K u t c h Commissionerate said it has moped up Rs273.51 crores in May compared to the Rs171.47 crores in the corresponding month a year ago, achieving the highest ever growth rate of 59.51 percent in the financialyearthatbeganinApril.

The revenue collection for April and May is Rs558.21 crores against revenue collection of Rs374 57 crores for the corresponding period last y e a r, r e s u l t i n g i n g r o w t h o f Rs 183 64 crores and a growth rate of 49 03 percent

The CGST Kutch Commissionerate furthersaidthatmorethan95percentof top taxpaying units, who contribute more than 90 percent of the revenue of the commissionerate, have filed returns within three or four days of the due date offilingreturnsi.e.20.05.2023.

In fact, 80 percent of them have filed returns on the due date of filing returns i.e.20.05.2023.

CGST Kutch Team welcomes this very positive response from the trade and industr y based at Kutch, responding to the request made during

the last outreach programme held on 16Maythisyear.

CGST Kutch Commissioner said he was confident of sustaining the growth ratesfortherestofthefinancialyear

The Commissioner also conveyed that one more outreach programme will be held next week in Bhuj, to transmit the knowledge to the trade and industry, exclusively involved in construction and civil works sector, about the trade facilitation measures along with steps taken to enhance ease of doing business,introducedbyCBIC.

Tanker Cargo demand to rise by up to 2% in 2023-2024 period : BIMCO

DENMARK: We have increased the cargo demand forecast in our base case scenario and now estimate that crude tanker volumes will increase by between 1% and 2% in both 2023 and 2024. This is an increase of 1 percentage point in 2023. For the product tanker market, we similarly increase our 2023 cargo demand growth forecast by 1 percentage point to between 2.5 and 3.5%, while we maintain an estimate of 1%to2%for2024.

We also still expect that an increase in average haul will add 3 percentage pointstodemandgrowthin2023forboth the crude and product tanker market. This represents the estimated impact of the changed trade patterns since the European Union banned imports of Russian oil and oil products. We expect that these sanctions will remain in place throughout 2023 and 2024 even if the war inUkraineshouldcometoanend.

Since our last report, the US Energy Information Administration (EIA) has increased its oil production and consumption estimates. The EIA now

estimates that consumption will increase by 1.6 million barrels per day (mbpd) (1.6%) in 2023 and by another 1.7mbpd(1.7%)in2024.

Consumption in 2023 is expected to reach101.0mbpdandexceed2019levels for the first time since the pandemic.

In 2024, consumption is forecast to hit 102.7 mbpd, a new record high. China (34%), India (16%), USA (16%), and the Middle East (12%) combined account for 81% of the estimated increase in consumptionbetween2022and2024 The end to COVID-19 restrictions in China is obviously a key driver and especially drivesincreaseddemandforjetfuel.

In their base case, the International Monetary Fund (IMF) predicts economic growth of only 2.8% in 2023 and3.0%in2024.

Given the consumption forecasts, developments in China are of particular concern to the tanker market. The Chinese economy grew 4.5% y/y in the first quarter of 2023, slightly behind IMF’s full year growth forecast of 5.2%. Growth is challenged by so far

insufficient domestic demand and a challenging global environment. From a tanker demand perspective it has, however, been very positive to see the resurgence in both ground and air travel.

Overall, we estimate that cargo demand in 2023 could end 1 percentage point lower than our base case if global economic growth ends near IMF’s low case.

However, year-to-date demand in both the dirty and clean tanker trades have developed very favourably Tonne miles in the dirty tanker trade have year-to-date been 9.4% higher than in 2022andthecleantankertradehasseen a7.5%increase.

As expected, the gains have been a combination of an increase in average haul and increased cargo volumes Crude imports to China have been particularly strong due to domestic demand as well as an increase in oil product exports. As expected, Russian exports and EU imports have driven muchoftheincreaseinaveragehaul.

DP World Cochin launches new weekly service to further strengthen trade between India and the Middle East

The new service operated by Unifeeder, a DP World Group company, aims to boost South India’s connectivity and facilitate trade with the Middle East

KOCHI/MUMBAI: DP World, a leading global provider of smart end-to-end supply chain, welcomed their newly launched weekly service ‘PIC2’, at its state-of-the-art International Container Transshipment Terminal (ICTT) in Cochin. With a 2407 TEUs vessel capacity, the new service by Unifeeder Group, willenhancetheconnectivityofthe EastCoast toCochinandultimatelytotheMiddleEast.

Krishnapatanam, Visakhapatnam, Tuticorin, Kandla, Karachi, and Jebel Ali. With this development, DP World Cochin now provides four direct sailing weekly servicesfortheMiddleEastregion.

‘PIC2’ service’s maiden vessel, M.V. SSL Delhi, was inaugurated at DP World’s terminal in Cochin on 17th May 2023. The inaugural call ceremony was attended by Capt. Joseph J. Alapat Deputy Conservator, Malla Srinivasa Rao, Financial Advisor and Chief Accounts Officer of Cochin Port Authority, Praveen Joseph, CEO, DP World Cochin, and members from Unifeeder Group. The new service will provide seamless connectivity between Chennai,

Commenting on this new service, Praveen Joseph, CEO, DP World Cochin said, “With enviable multimodal connectivity and the introduction of the fourth direct service to the Middle East, 'PIC2' service, DP World Cochin positions itself as a gateway for seamless transportation, revolutionizing the way goods are transportedandfosteringgreatertradeefficiency.Withan impressivevesselcapacityof2407TEUs,DPWorldCochin leverages this robust infrastructure to enhance efficiency, reduce transit times, and enable businesses to access global markets with unprecedented ease. DP World Cochin is making significant strides towards shaping the futureoftradeandlogisticsinIndiaandbeyond.”

The port terminal has improved its ability to handle post-panamax ships as of February 2023. Since opening in 2011, the 605-meter-long terminal has successfully handled6millionTEUs,asignificantaccomplishment.

Vizhinjam Port to be fully commissioned by May next year: Karan Adani

AHMEDABAD: The much-delayed international container transhipment port at Vizhinjam near Thiruvananthapuram in Kerala will be fully commissioned by May 2024, Karan Adani, Chief Executive Officer, Adani Ports and Special Economic Zone Ltd (APSEZ), whichisbuildingthenewport,hassaid.

“WeexpectthefirstvesseltoberthinOctoberthisyear, that’s when we expect the first equipment to come. We expect the Phase 1 of the port (400 metre quay) to be commissionedbyMarch2024andthebalancebyMay2024. So, we expect the full commissioning of Vizhinjam Port by May 2024,” Karan Adani said recently after the company announcedthefourthquarterandannualfinancialresults.

The new port is designed to cut India’s dependence on nearbyColombotosendandreceivecontainercargo.

According to the concession agreement signed on August 17, 2015, Vizhinjam port was slated to start operationsonDecember3,2019.

Adani Vizhinjam Port Pvt Ltd (AVPPL), the APSEZ unit developing the port, has blamed force majeure events arising from acts of God such as the Cyclone Ockhi, high waves, a National Green Tribunal order, the pandemic, Cyclone Tauktae and reasons attributable to Kerala Government authorities for the delay in achieving the

scheduled commercial operation date (COD) set by the concessionagreementfortheproject.

The delay and the reasons behind it are currently being heardbyanarbitrationpanel.

The Vizhinjam project is entitled to receive a viability grant funding/equity support grant of Rs1,635 crore to be shared by the Centre (Rs 818 crore) and the Kerala government (Rs 817 crore) to boost its viability, making it the first and only port project to be offered such a grant. Of this, Rs1,227 crore will be given during the construction phase and the balance during the operation period spanning 40yearsextendablebyanother20years.

ViabilityGrantFunding(VGF)isaone-timegrantgivenby the Central government for supporting public-privatepartnership (PPP) projects in infrastructure that are economicallyjustifiedbutfallshortoffinancialviability.

The VGF was the basis on which the bid was awarded to Adani Ports and Special Economic Zone Ltd (APSEZ), which quotedtheleastgrantofRs1,635croreinanauctionin2015.

The “in-principle” approval for granting VGF to the Vizhinjam port project was accorded by the Centre in February2015.

Adani Vizhinjam Port has secured “final approval” from the Union Finance Ministry’s Department of Economic Affairs in October 2022 for the construction phase VGF of Rs1,227crore.

MOL Group is the First Overseas Partner of Hong Kong Government-backed-e-Smart Port Platform Prototype Project

TOKYO: Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that MOL, along with its logistics group companies in Hong Kong, has been selected as the first overseas company to be a partner of the e-Smart Port Platform Prototype Project (Note 1), a Hong Kong Government initiative to develop Hong Kong's logistics functions and port community integrative platform. On May 30 in Hong Kong, MOL signed a memorandum of understanding (MoU) with the Logistics and Supply Chain MultiTech R&D Centre (LSCM), a Hong Kong government-subsidized technology research organizationimplementingthisproject.

MOL Group has set out to develop and expand new nonshipping businesses, including logistics, in both the portfolio and regional strategies of the "BLUE ACTION 2035" management plan. The group companies are developing their businesses to meet the various logistics needs of customers, and in this project, the following group companies will provide information on actual logistics conditions and other data in Hong Kong to LSCM under the supervision of MOL The project aims to study and enhance the operational efficiency of the logistics industry in Hong Kong by leveraging the MOL Group's comprehensive strengths, which were highly evaluatedasapartner