September Exports grow by 6 % for the 1st time during the current fiscal, showing signs ..See Pg. 13 of revival : FIEO Shipping Ministry extends 40% discount on Cargo movement between India and Chabahar Port, Iran for one year ..See Pg. 19 2 Pg. Supplement with Today’s Issue
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Vol. XXVI No. 112 MONDAY 19th OCTOBER 2020
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Shipping Ministry drafts new The Coastal Shipping Bill 2020 NEW DELHI: The Government has drafted a Bill to oversee India’s Coastal Shipping sector, which seeks to give a “legal structure” to the right of first refusal (RoFR) granted to local fleet owners operating their ships between ports in the Country. The Coastal Shipping Bill 2020 has been drafted by carving out chapter 14 of the Merchant Shipping Act 1958, which deals with grant of licences for coasting trade in India. A couple of years ago, the Government exempted Indian vessels from obtaining any kind of licence for coasting trade; their registration was considered as a licence. “Now, there is a thought that we should have a proper coastal shipping strategy. Earlier, the right of first refusal rule was actually an executive order based on Chapter 14, which said that the Directorate General of Shipping (DG Shipping) can set conditions for grant of licence. But those conditions should ideally have been conditions on the vessel but we put it in the business clause, basically saying that you first look at Indian vessels and if Indian vessels are not available only then you can apply for a licence to use foreign ships for coastal trade,” D G Shipping Amitabh Kumar was quoted as saying. Cont’d. Pg. 13
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Exports grow 6% in September, The 2nd India-EU Thought Leadership session to focus on the private sector first rise since February NEW DELHI: Merchandise exports grew 6% year on year in September, the first rise since February, and a contraction in imports narrowed to 19.6% from 26% in the previous month, suggesting a gradual return towards normalcy. Consequently, trade deficit narrowed to just $2.78 billion in September from $6.77 billion in the previous month, showed the quick estimate of the trade data released by the Commerce Ministry. Cont’d. Pg. 6
Yair Seroussi appointed as ZIM’s Chairman of the Board of Directors HAIFA: ZIM Integrated Shipping Services announced the appointment of M r. Ya i r S e r o u s s i a s ZIM’s Chairman of the Board of Directors. Mr. Seroussi’s nomination as a member of ZIM board, was approved in a shareholders meeting held earlier today. He replaces Mr. Aharon Fogel, who is stepping down after serving more Mr. Yair Seroussi than six successful years as the company’s Chairman. Yair Seroussi brings with him vast business experience, having served in various senior positions in both the public and private sectors. Mr. Seroussi served as Chairman of Bank Hapoalim, Israel’s largest bank, in 2009-2016, and was head of Morgan Stanley Israel in 1993-2009. Currently, Mr. Seroussi is, among others, Chairman of Enlight Renewable Energy, a fast-growing company which is active in 10 European markets and is listed on the TASE.
India poised to take advantage of Supply Chain shift : DP World CEO ...See Pg. 4
getting back to business
M U M B A I : Scheduled on the 21st October 2020, Port of Antwerp’s 2nd India-EU thought leadership session will feature two noteworthy leaders, Mr. Dinesh - Managing Director of TVS Supply Chain Solutions, Joint Managing Director of T V Sundram Iyengar & Sons Private Limited and Ms. Luisa Santos – Deputy Director General of the leading European industry body, Business Europe. Cont’d. Pg. 4