Port Regulations in Indian Maritime Environment (PRIME) - Indian Ports Act (IPA)
Capt. M. M. Saggi
Vol. XXVI No. 81 rd WEDNESDAY 5 AUGUST 2020
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by Former Nautical Advisor to Govt. of India See Pg. 4-5-6-7
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SoftLink and ODeX announce collaboration for Seamless Filing of VGM & Form 13 M U M B A I : SoftLink Global and ODeX announced a strategic partnership to help Export-Import trade work more efficiently. The two leading software platforms announced a collaboration enabling Custom Brokers, Freight Forwarders and other logistics service providers to file VGM and Form 13 seamlessly. ODeX provides a digital platform for Documentation and
Payments for Export-Import Trade. SoftLink is the leading Enterprise Solution platform for Freight Forwarders and Custom Brokers. Integrating ODeX’s e-VGM and e-Form 13 modules with SoftLink’s Logisys – saves critical time and effort that was spent in entering and submitting data in multiple systems. It will also eliminate errors due to manual data punching. This integration will be effective over 200+ Shipping Lines and NVOCC’s that accept VGM and Form 13 on ODeX. Cont’d. Back Pg.
ONE Q1 profit soars 3,000% in April-June Quarter owing to cheaper fuel and higher rates SINGAPORE: Ocean Network Express (ONE) has kicked off the quarterly financial results reporting season with a $167m net profit for April-June. Despite seeing liftings slump by about 20% on its Q1 of last year, to 2.67m TEU, the merged carrier’s revenue declined by just 4.8% to $2.74bn, as freight rates spiked in response to tight capacity on the major east-west tradelanes. Additionally boosted by a 20% fall in the price of bunkers, to $348 per tonne, and surcharges levied on shippers for low-sulphur fuel, ONE’s profit for the quarter soared by more than 3,000% over the $5m for the same quarter of 2019. “Liftings largely decreased due to the impact of
Covid-19,” said ONE, but added that its improved profitability was attributed to a “relatively stable short-term market,” cost reductions due to a reduction in its fleet, extra blanked sailings, a “sharp bunker price drop”, reductions in overheads for agency fees and lower IT system costs. From April, the carrier suspended publication of its monthly liftings statistics for Asia-Europe and the transpacific, but has included the quarterly data in its results. For headhaul routes, vessel utilisation was an impressive 96% for both trades. This compares favourably with an average load factor for its previous full-year of 93% for Europe and 91% for North America. Cont’d. Back Pg.