GUJ-20-05-2024

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MUMBAI : (022)22661756 / 1422, 22691407

+ NORTH INDIA

AHMEDABAD : (079) 26569995, E-Mail:dstgujarat@gmail.com

KANDLA : (02836)222665/225790, E-Mail:dstimeskdl@gmail.com

DPA Kandla achieves extraordinary milestone by handling a record-breaking 18.5 MMT of cargo

GANDHIDHAM: Deendayal Port Authority, Kandla has achieved an extraordinary milestone by handling a record-breaking 18.5 million metric tons (MMT) of cargo within the first 45 days of the current fiscal year 2024-25. This remarkable feat represents a 6.81% growth compared to the same period last fiscal year and surpasses the previous record set during FY 2022-23 by 6 38%

The detailed record of traffic volume handled over the

first 45 days of the last five fiscal years is as follows:

2024-25: 18.50 MMT

2023-24: 17.32 MMT

2022-23: 17.39 MMT

2021-22: 16.19 MMT

2020-21: 12.55 MMT

These impressive numbers highlight DPA's consistent growth trajectory and its capacity to handle increasing cargo volumes year after year.

APM Terminals Pipavav launches "Future

Cont’d. Pg. 6

Leaders – Foundation Program"

in Partnership with Maersk Training and Gujarat Maritime University

AHMEDABAD: In a significant stride towards aligning with the Government of India's visionary Skill India mission and strengthening the country's maritime prowess, APM Terminals Pipavav (GPPL), a leading gateway port in India, has taken a pivotal step by launching the intensive "Future Leaders – Foundation Program" in partnership with Maersk Training and Gujarat Maritime University (GMU).

Cont’d. Pg. 6

DPA Kandla achieves extraordinary milestone by handling a record-breaking 18.5 MMT of cargo

Cont’d.

from Pg. 4

Key Growth Drivers

The first 45 days of the current fiscal year have witnessed significant growth in various cargo categories:

Iron Ore Import: There was a phenomenal 168% increase in the volume of iron ore imports, underscoring the growing demand for this critical raw material.

Urea: The volume of urea handled saw a robust growth of 43%, reflecting heightened agricultural activity and fertilizer demand.

Fertilizer Raw Materials (FRM): A substantial 99% growth was observed in FRM, highlighting the strategic importance of the port in supporting agricultural inputs.

Miscellaneous Dry Bulk: This category experienced a 62% increase, indicating a diverse range of commodities contributing to the overall cargo volume.

Edible Oil: There was a steady 12% growth in edible oil volumes, suggesting a stable consumption pattern.

Salt: The port handled 15% more salt compared to the same period last year, emphasizing its role in this essential commodity's supply chain.

Soybean Meal (SBM): SBM volumes increased by 16%, reflecting the growing export and domestic consumption of this protein-rich feed ingredient.

Strategic Implications

The consistent increase in cargo volumes at Deendayal Port Authority is a testament to its strategic initiatives aimed at enhancing port infrastructure, improving operational efficiency and fostering stakeholder collaboration. These efforts have positioned DPA as a pivotal maritime hub, crucial for the economic growth and supply chain management of the region.

The port's robust performance not only highlights its operational capabilities but also its ability to adapt to the dynamic demands of global trade. As DPA continues to innovate and expand, it is well-positioned to maintain its upward trajectory and set new benchmarks in cargo handling.

In conclusion, the record-breaking cargo handling figures for the first 45 days of FY 2024-25 are a clear indication of Deendayal Port Authority's leadership and commitment to excellence in maritime operations.

APM Terminals Pipavav launches "Future Leaders – Foundation Program" in Partnership with Maersk Training and Gujarat Maritime University

Equipping Young Talent for a Sustainable Marime Future in India

Cont’d. from Pg. 4

T h i s g r o u

revolutionizes maritime learning through immersive virtual reality (VR) experiences build upon the Memorandum of Understanding (MoU) signed during the Vibrant Gujarat Summit 2024. Maersk Training will showcase its award-winning - “Best Use of AI/AR/VR in Learning and Upskilling capabilities. This underscores GPPL's unwavering commitment to cultivating a futureproof, highly skilled maritime workforce and propelling India's economic growth and global competitiveness.

The recently concluded event was honored by the presence of several distinguished industry leaders

Among the key dignitaries were Shri Manoj Kumar Das, IAS, Additional Chief Secretary of the Ports & Transport Department and Revenue Department at Sachivalaya, Gandhinagar; Mr. Girish Aggarwal, Managing Director of APM Terminals at Gujarat Pipavav Port; Prof. (Dr.) S. Shanthakumar, Provost (I/C) of Gujarat Maritime University and Director of Gujarat National Law University; and Mr. Vivek Sharma, Country Director of Public Affairs at AP Moller Mærsk Group Their participation significantly enriched the event's proceedings and discussions

Transcending traditional methods, this program offers an immersive learning experience in maritime essentials, including fundamentals, technical skills, sustainability, and real-world case studies. It empowers

participants to contribute to a thriving economy, a sustainable future, and a s t r o n g e r community

By fostering i n n o v a t i o n e x c h a n g e opportunities a c r o s s

Mr. Girish Aggarwal

countries such as the USA, Saudi Arabia, Japan, and Taiwan, the program creates a "network effect" that opens exciting career prospects, job opportunities, and potential future exchange programs for students and participants.

The program equipped aspiring maritime professionals with the following comprehensive skillset across various areas:

Regulations and Safety: Participants mastered MARPOL regulations, ISM code, and ship safety procedures.

Sustainable Practices: Focus on green shipping to improve maritime supply chain sustainability

Logistics Expertise: Gained insights into logistics management through "Farm to Fridge" case studies.

Skills Development: Enhanced communication, teamwork, problem-solving, and leadership skills.

“At APM Terminals Pipavav, we are committed to nurturing the next generation of maritime leaders who will drive India's growth and sustainability agenda," said Girish Aggarwal, Managing Director, APM Terminals Pipavav. The 'Future Leaders – Foundation Program' is a testament to our dedication to skill development and innovation. By leveraging cutting-edge technologies like virtual reality and collaborating with industry pioneers like Maersk Training and Gujarat Maritime University, we aim to provide an unparalleled learning experience. This program will empower young talents with the knowledge and expertise to navigate the complexities of the maritime industry while fostering a sustainable future."

CONCOR – CMD highlights its robust infrastructure to Maritime Stalwarts of Taiwan

TAIWAN/NEW DELHI: Shri

Sanjay Swarup, CMD of Container

C o r p o r a t i o n o f I n d i a L t d (CONCOR), i n t e r a c t e d w i t h representatives from leading S h i p p i n g L i n e s a n d F r e i g h t Forwarders in Taiwan to apprise t h e m o f C O N C O R ’ s r o b u s t infrastructure, which includes 66 terminals, over 375 rakes, and 43,000 containers, as well as state-ofthe-art handling equipment and IT-enabled logistics solutions.

H e a l s o h i g h l i g h t e d t h e company’s comprehensive logistics s e r v i c e s , a i m i n g t o e x p l o r e opportunities for mutually beneficial relationships.

The meetings were held with Mr. Kuang-hui Wu, President of Evergreen Marine Corporation (Taiwan) Ltd., Mr. Bryan Ma, Vice President of Wan Hai Lines Ltd., Mr. Richards Yeh, Executive Director of International Ocean Freight Forwarders & Logistics AssociationTaiwan, and Mr. Jason Kuo, CEO of Panda Logistics Co., Ltd., focused on strengthening collaborations and exploring new opportunities for mutual benefits.

During these interactions, Shri Swarup also provided an

MUMBAI: Allcargo Terminals Ltd has announced its financial results for the quarter ended March 31st, 2024.

Key highlights:

Suresh Kumar R, Managing Director, Allcargo Terminals Limited said, “FY24 was marked by geopolitical events which disrupted the global container trade. Despite this, Allcargo Terminals registered a volume growth of 8 percent over the previous year, keeping us ahead of the industry growth. Our efforts in

MUMBAI: Allcargo Gati Limited (formerly GATI) one of India’s l e a d i n g p r e m i e r E x p r e s s Distribution and Supply Chain Management company, has reported its audited financial results for the quarter ended March 2024. Financial Highlights for Express Business Express business is housed under Gati Express and Supply Chain Pvt. Ltd. (GESCPL), formerly known as Gati KWE (GKEPL).

Commenting on the results, Mr. Pirojshaw (Phil) Sarkari, Managing Director and Chief Executive Ofcer of GESCPL said: “Q4FY24 has recorded the

overview of CONCOR's commitment to green logistics initiatives such as the adoption of LNG trucks. He also spoke about the MoUs signed with p

Indraprastha Gas Ltd, IOCL, and NTPC Vidyut Vyapar Nigam, which are aimed at facilitating the operation of LNG trucks and

Further highlighting CONCOR's role in adopting technology for logistics, Shri Swarup pointed out the introduction of digital solutions to streamline operations These include the launch of a logistics app designed for efficient first/last mile services, a pilot project on AI-based

initiated at ICD Tughlakabad and plans to extend this AI solution to other terminals Other technological advancements mentioned were KYCL (Know Your Container's Location) for real-time container tracking, automated billing for vendors, and the implementation of an e-Office, all contributing to enhanced productivity, customer-centric services and Logistics efficiency

the past year for enhancing service levels through Digital enablement with myCFS portal, App and the new CRM platform are progressing well.”

highest volume for the year on the back of enhanced service. For the full year we have reported a volume growth of 10% as compared to the last year The volume growth is a testament of our efforts towards improving quality and customer experience.

Our quarter performance has registered a 114% EBITDA growth over Q3FY24. This growth has come on the back of our efforts on direct cost rationalisation and yield improvement. We shall continue to focus on cost reduction to enhance profitability for our stakeholders.”

Concor Q4 results: Net profit rises 5.5% to Rs 315 crore

NEW DELHI: Container Corporation of India’s (Concor) March quarter profit jumped 5.5 percent to Rs 315.1 crore from the year-ago period, aided by volume growth and increased market share, the public sector company said on May 16.

Sequentially, profit after tax (PAT) came in lower than Rs 333.67 crore in the December quarter.

Revenue rose 6.4 percent YoY to Rs 2,325.1 crore, due to an 11.24 percent YoY growth in total volumes in the quarter under review

The company reported a revenue of Rs 2,210.57 crore in the December quarter

Concor's board approved an interim dividend of Rs 2.5 a share, amounting to Rs 152.3 crore, subject to shareholders' approval at the company's annual general meeting.

Concor reported an 11.24 percent on year increase in total throughput to 12,44,798 twenty-foot equivalent units (TEUs).

Domestic (DOM) throughput stood at 3,10,740 TEUs,

a growth of 16.05 percent from the year-ago quarter

The export-import throughput grew 9 73 percent to 9,34,058 TEUs.

CONCOR reported EBIDTA of Rs 591 crore, 8.5 percent higher from the year-ago period. The EBITDA margin rose 50 basis points to 25.4 percent from 24.9 percent in Q4 FY23.

CONCOR reported a 8.9 percent on-year growth in revenue from the Export-Import segment to Rs 1,442.1 crore, while profit rose to Rs 326.2 crore, a 2.7 percent growth compared to the same period last year

The earnings before interest and taxes (EBIT) margin from the Export - Import segment fell to 22.6 percent when compared to 24 percent a year ago and 22.26 percent in the December quarter.

Its domestic segment’s revenue was up 2.7 percent at Rs 883 crore from the year-ago period and profit grew 11.2 percent to Rs 83.3 crore.

The EBIT margin from the domestic segment rose to 9.4 percent against 8.7 percent in the year-ago period and 9.65 percent in the December quarter

Port of Antwerp-Bruges launches the World's first methanol-powered tugboat

ANTWERP: Port of Antwerp-Bruges

p r e s e n t e d a w o r l d p r e m i e r : t h e Methatug. This tugboat, which runs on methanol, is part of a greening programme for the port's fleet and an important step in the transition to a climate-neutral port by 2050. The project is being financed by the European research programme Horizon 2020 and is part of the FASTWATER project, which aims to demonstrate the feasibility of methanol as a sustainable fuel for the shipping industry

First methanol-powered tugboat

Methanol is one of the fuels of the future and produces lower emissions, an important factor in the Port of AntwerpBruges' ambition to be climate neutral by 2050. The world's first methanol-powered tugboat, the Methatug, was unveiled in Antwerp Methanol can be produced from renewable sources, is a clean fuel and can be used for both brand-new ships and retrofits because it is liquid under ambient conditions. For the Methatug, the engines from an existing tugboat were converted into ‘dual fuel’ engines, which means that they run on a mixture of methanol and traditional fuel. The 30-metre-long tugboat has a traction force of 50 tons and can store 12.000 litres of methanol, enough for two weeks of tug work.

FASTWATER project

The Methatug is part of the European FASTWATER project, which aims to demonstrate the feasibility of methanol as a sustainable fuel for the shipping industry, and was financed by the European research and innovation programme Horizon 2020. In addition to Port of AntwerpBruges, various other partners from the FASTWATER consortium are involved in this project: the Swedish ship design agency ScandiNAOS, the Belgian engine manufacturer Anglo Belgian Corporation, the German company Heinzmann responsible for the methanol injectors, Ghent University for the emission monitoring programme and the Canadian methanol supplier Methanex during the trials In the FASTWATER project, the conversions to methanol propulsion of a pilot boat in Sweden, a river cruise ship in Germany and a coastguard vessel in Greece are also elaborated. De Wit Bunkering will supply the Methatug with methanol via truck-to-ship bunkering at the Port of Antwerp-Bruges Nautical Operational Cluster (NOC).

Green eet and multi fuel port

This world premier forms part of a comprehensive greening programme for Port of Antwerp-Bruges' own fleet

which strives to systematically integrate the most environmentally friendly technologies available So far, the Hydrotug 1, the first tugboat to run on hydrogen, and energy-efficient RSD tugboats have already been added to the fleet Another electrically powered tugboat will follow later this year, as the first in Europe.

As the fifth largest bunker port in the world, Port of Antwerp-Bruges also aims to become a full-fledged multi-fuel port, in which seagoing and inland vessels will be able to bunker, not only conventional fuels, but also alternative, low-carbon fuels, such as methanol, hydrogen or electricity In early April, the first methanol bunkering with the deepsea vessel

Ane Maersk took place in Antwerp, a new milestone in terms of this ambition.

Jacques Vandermeiren, CEO of Port of AntwerpBruges: "Together with our partners, we are pioneering with innovative technologies for the transition to alternative and renewable energy sources. The Methatug is a new and essential step in our efforts to make our own fleet greener and become climate neutral by 2050. Thanks to projects such as this, we are paving the way and hope to be an example and a source of inspiration for other ports.”

Annick De Ridder, Vice-Mayor of the City of Antwerp and President of the Board of Directors of Port of Antwerp-Bruges: "The fact we are able to announce another world premier today in the field of clean energy is fantastic news for our port and for the shipping industry in general. Just like with the Hydrotug, the world's first hydrogen-powered tugboat, this project confirms our pioneering role in the field of energy transition The ecosystem of our port platform forms an ideal, largescale testing ground for this."

Prof. Sebastian Verhelst, Project Coordinator FASTWATER: “Methanol has everything to become the fuel of the future and play a pioneering role in the greening of the shipping industry Thanks to the expertise and efforts of the different partners from the consortium, we are now able to take important steps with the Methatug to demonstrate its feasibility.”

Methatug specications

• 11 meter width, 29.5 meter length

• Weight of 584 tons

• 50 ton bollard pull

• Storage of 12.000 litres of methanol

• Two ABC 8DAC dual fuel medium-speed engines.

COSCO SHIPPING LINES (INDIA)

CI1 Service

NORTH WEST INDIA SERVICES

CHINA / INDIA EXPRESS

Service

PAKISTAN AND MUNDRA EXPRESS SERVICE

ASX Service

ARABIAN SEA EXPRESS

SOUTH INDIA SERVICES

TCX Service THAILAND CHENNAI EXPRESS

FCS Service FAR EAST CHENNAI SERVICE

IEX Service INDIA EUROPE EXPRESS SERVICE

Head Office - Mumbai :

Unit 802, B Wing, 8th Floor, Godrej Two, Pirojsha Nagar, Eastern Express Highway, Vikhroli (E), Mumbai, 400079, India

Tel: +91 022 61247300, Fax: +91 022 26665780

Delhi Office : 238, 3rd Floor Okhla Industrial Estate, Phase-3 New Delhi-110020, India

Tel: +91 011 66266627 / 66266625, 66266609, 66266628, 66266608 , 66266618

Mundra Office :

Second Floor, Plot No. 86, Sector 1A, Near Hero Motorcycle Showroom, Gandhidham – 370 201

Mumbai Sales - Mr. Kaushik Valecha 9769963483 kaushik.valecha@coscon.com

Mumbai Customer Service - Ms. Minal Bharati 9869082992 minal.bharati@coscon.com

Mundra Sales - Mr. Vicky Bhatia 9879843963 vicky.bhatia@coscon.com

Mundra Customer Service - Ms. Rupal Thacker 9429814071 rupal.thacker@coscon.com New

rohit.dixit@coscon.com

9654282457 anuradha.sharma@coscon.com

SHIPPING MOVEMENTS AT GUJARAT PORTS

VESSELS IN PORT & DUE FOR EXPORT

Stream

Cargo Steamer's Agent's ETD

Jetty Name Name

CJ-I Nord Vind Interocean 22/05

CJ-II Ima Glory DBC 22/05

CJ-III Binnur C ACT Infra 23/05

CJ-IV Loa Fortune Krishna Shpg 21/05

CJ-V VACANT

CJ-VI Zhe Hai 1 DBC 26/05

CJ-VII Beauty Peony Dariya Shpg. 22/05

CJ-VIII VACANT

CJ-IX Golden Glory Benline 24/05

CJ-X Aruna Hulya Seascape 21/05

CJ-XI VACANT

CJ-XII VACANT

CJ-XIII Dubai Sun Cross Trade 27/05

CJ-XIV VACANT

CJ-XV Star Tyche Mitsutor Shpg. 26/05

CJ-XVA Yangtze Brightness JMBaxi 22/05

CJ-XVI VACANT

TUNA VESSEL'S NAME AGENT'S NAME ETD

Bulk Spencer Vishva Bandhan Aditya Marine 22/05

OIL JETTY VESSEL'S NAME AGENT'S NAME ETD

OJ-I VACANT

OJ-II Rhine

OJ-III Southern Quokka GAC Shpg. 21/05

OJ-IV Jag Pankhi

OJ-V Al Jabirah Kanoo Shpg. 21/05

OJ-VI GW Fortune Interocean 21/05

OJ-VII Boxer Interocean 21/05

CS Calla 17/05 Visakhapatnam

Olivia 17/05

TCI Express 18/05 Manglore/ Cochin/Tuticorin

Glovis Mermaid 18/05 China

Theotokos 18/05 Future ID 18/05 Sudan

19/05 Bangladesh

20/05

Aruna Hulya Seascape

Coal In Bulk 2024051201 CJ-VII Beauty Peony Dariya Shpg.

Stream Diamond Inayat Cargo Porbandar

Stream DL Tulip Synergy

CJ-XIII

Stream Ocean Tiannbo Taurus

Stream Maran Mariner Taurus

2024051186

2024051082

2024051195

T. S. Coal In Bulk 2024041413 Tuna Vishva Bandhan Aditya Marine Visakhapatnam 54,747 T.I.Ore Fines & Lumps In Bulk 2024051187

CJ-XVA Yangtze Brightness J M Baxi

CJ-VI Zhe

2024051072 T. HRC/S.Plates/S.Pipes/ CRC/Drill MCH./Excavator/ Iron Box/Ball Crusher

JAS Aus Logs 2024051094

LIQUID CARGO VESSELS

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

DP WORLD MUNDRA

Port —/— Maersk Cardiff 420W 4051655 Maersk Line Maersk India Tema, Lome, Abidjan (MW2 MEWA)

24/05 23/05-PM Marathopolis 421S 4041657 Maerssk Line Maersk India Port

CHINESE PORTS & AUSTRALIAN PORTS

In Port —/— Terataki 2407 4041471 Asyad Line Seabridge Marine Haiphong, Laem Chabang, Jakarta (FEX)

21/05 21/05-AM Interasia Enhance 34E 4041628 Heung A / WHL Samsara / WHL Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Hongkong (C16)

24/05-AM Inter Sydney 156 Interworld Efficient Marine China (BMM) 25/05

26/05 25/05-PM Buxwave 421E X-Press Feeder Sea Consortium Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 27/05 Maersk Line Maersk India Ningbo, Tanjung, Pelepas, Port Kelang (NWX)

TBA Asyad Line Seabridge Marine Haiphong, Shekou, Laem Chabang, Port Kelang (FEX1) TO LOAD FOR INDIAN SUB CONTINENT

In Port —/— Maersk Cardiff 420W 4051655 Maersk Line Maersk India Tema, Lome, Abidjan (MW2 MEWA)

27/05 27/05-PM Beijing Bridge 2403 4051860 Global Feeder Sima Marine Karachi (CSC)

TBA Asyad Line Seabridge Marine Karachi (REX)

CONTAINER VESSELS DUE

In Port Maersk Cardiff (V-420W) 4051655 Maersk India Nhava Sheva 20/05 Cap San Vincent (V-419W) 4041653 Maersk India Jebel Ali 21/05 Interasia Enhance (V-34E) 4041628 Wan Hai Line Nhava

AT BERTH

PORT FOR IMPORT DISCHARGE

MBK Logistix Nhava Sheva

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

Ningbo, Shekou, Singapore, Shanghai (PMX)

21/05-PM TS Keelung 2401E 2401831 One/X-Press Feeder OneIndia / SC-SPL Port Kelang, HongKong, Shanghai, Ningbo, Shekou. (CWX) 22/05 KMTC /TS Line KMTC India/TS Line (I) Port Kelang, Hongkong, Sanghai, Ningbo. (CWX)

21/05-PM ESL Busan 2417E 2401785 Interasia/GSL Aissa M./Star Shpg Port Kelang,Singapore, Tanjung Pelepas, Xingang, Qingdao, 23/05 Evergreen/KMTCEvergreen/KMTC (FIVE) 24/05 20/05-PM Ever Utile 184E 2401715 FeedertechFeedertech Port Kelang,

In Port —/— Belita OMXJFW2400865 Hapag Lloyd ISS Shipping Colombo (IMEX)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

PIPAVAV PORT

24/05 23/05-1800 Maersk Denver 420W 24165 Maersk Line Maersk India Algeciras

31/05 30/05-1800 Maersk Seletar 421W 24179

TO LOAD FOR FAR EAST, CHINA, JAPAN, AUSTRALIA, NEW ZEALAND AND PACIFIC ISLANDS

20/05 20/05-1400 Xin Da Yang Zhou 093E 24157 COSCO / OOCL COSCO Shpg./OOCL(I) Port Kelang, Singapore, Hong Kong, Shanghai, Xiamen, Shekou. 21/05 23/05 22/05-1900 Torrance 27E 24172 Gold Star / RCL Star Shpg/RCL Ag. (CIXA)

30/05 29/05-1800 Aka Bhum 021E 24175

22/05 21/05-2000 Bux Wave 421E 24167 Maersk Line Maersk India Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 23/05

29/05 29/05-0500 GSL Nicoletta 422E 24176 X-Press Feeders Merchant Shpg. Ningbo, Tanjung Pelepas. (NWX) 30/05

05/06 05/06-0500 AP Moller 423E Sinokor / Heung A Sinokor India Port kelang, Singapore, Qindao, Xingang, Pusan 06/06

23/05 23/05-1700 Cap Andreas 011E 24164 X-Press Feeders Merchant Shpg. Port Kelang, Singapore, Laem Chabang. 24/05

29/05 29/05-0230 San Francisco Bridge 072E 24177 ONE ONE (India) (TIP) 30/05 24/05 23/05-2200 Xin Hongkong 070E 24148 COSCO COSCO Shpg. Singapor Cai Mep,Hongkong, Shanghai,Ningbo,Shekou, Nansha (CI1) 25/05

27/05 27/05-0500 One Hangzhou Bay 055E 24170 ONE ONE (India) Port Kelang, Singapore, Haiphong, Cai Mep, Pusan, Shahghai, 28/05 02/06 02/06-1400 MOL Creation 092E 24178 HMM / YML HMM(I) / YML(I) Ningbo, Shekou (PS3) 03/06 TO LOAD FOR WEST ASIA GULF, RED SEA & EAST AFRICAN PORTS

21/05 21/05-0300 Seaspan Jakarta 420E 24168 Maersk/GFS Maersk India/GFS Jabel Ali, Dammam (SHAEX)

24/05 23/05-1800 Maersk Denver 420W 24165 Maersk Line Maersk India Salallah, Port Said, Djibouti, Jebel Ali, Port Qasim. (MECL) 25/05 TO LOAD FOR INDIAN SUB CONTINENT PORTS & COASTAL SERVICE

20/05 20/05-1400 Xin Da Yang Zhou 093E 24157 COSCO/OOCL COSCO Shpg./OOCL(I) Colombo. (CIXA)

22/05 21/05-1800 SSL Godavari 027 24174 SLSSLS Hazira, Cohin, Mangalore, Tuticorin, Mundra. (PIC 1) 23/05

22/05 21/05-2000 Bux Wave 421E 24167 Maersk Line Maersk India Colombo. (NWX)

23/05 23/05-0100 SCI Chennai 2404 24161 SCI J M Baxi Mundra, Cochin, Tuticorine. (SMILE)

23/05 23/05-1700 Cap Andreas 011E 24164 X-Press Feeders Merchant Shpg. Muhammad Bin Qasim, Karachi, Colombo.

29/05 29/05-0230 San Francisco Bridge 072E 24177 ONE ONE (India) (TIP)

24/05 23/05-2200 Xin Hongkong 070E 24148 COSCO COSCO Shpg. Karachi, Colombo (CI1)

24/05 24/05-0600 Mogral 0082 24173 CCG Sima Marine Hazira, Mangalore, Cochin, Colombo, Katupalli, Vishakhapatanam, 25/05 Krishnapatanam, Cochin, Mundra. (CCG) TO LOAD

FOR US & CANADA WEST COAST

23/05 23/05-1700 Cap Andreas 011E 24164 X-Press Feeders Merchant Shpg Seattle, Vancouver, Long Beach, Los Angeles, New York, 24/05 29/05 29/05-0230 San Francisco Bridge 072E 24177 ONE

24/05 23/05-1800 Maersk Denver 420W 24165 Maersk Line Maersk Line India Newark, Charleston, Savannah, Houston, Norfolk.

Seletar

One Hangzhou Bay 055E 24170

SHIPPING MOVEMENTS AT ADANI HAZIRA

ETA/Berth Vessel’s Name Voy VCN Line Agents Will Load For

21/05 Maersk Virginia 421W 2400520 Maersk Line Maersk India Mediterranean, Europe,

23/05 SSL Visakhapatnam 188A 2400549 Hapag/CMA CGM

22/05 Terataki 2407E 2400528 Asyad

2420W

PORT

Adani Ports’ revenue projected at Rs 50,000 crore in next four years

AHMEDABAD: Adani Ports and Special Economic Zone Ltd. surpassed its guidance for cargo, revenue, and Ebitda in fiscal year 2024. These metrics continued to grow in the fourth quarter, with net profit rising by 76.87% to Rs 2,014.8 crore in the January-March quarter. The revenue target for financial year 2025 appears to be attainable, given the increasing volumes A look at how the company has beat its own growth guidance and expansion plans.

Geographical Exposure

The company currently operates 15 ports, with the share of Mundra previously accounting for the majority of volumes—decreasing from 89% to 44% of total cargo volumes.

This shift has brought about parity in the WestEast coast share, with the East’s contribution rising from zero in 2014 to 43%.

The recently acquired Gopalpur Port will further boost revenue from the East Coast.

Five-Year Performance Review

In fiscal 2021, the port operator projected cargo volumes of 500 million metric tonnes and revenue of Rs 30,000 crore by the end of FY25.

By fiscal 2024, its revenue had already reached Rs 26,700 crore, surpassing expectations. Meanwhile, cargo volumes stood at 398 MMT in 2023, representing a higher growth rate than initially projected at the start of FY21—cargo volumes grew by 20% compared to the anticipated 17% CAGR. Similarly, the revenue achieved a compounded annual growth rate (CAGR) of 29%, outpacing the estimated 24%.

Furthermore, this exceptional performance was accompanied by strong operational results, with Ebitda margins reaching 59%.

2030 Target

The company aims for robust cargo volume growth, targeting 1,000 MMT by 2030. As per its investor presentation, this goal is projected to drive revenue to Rs 50,000 crore by FY29, growing at a CAGR of 16% from FY24—doubling the current levels. The growth will be fueled by Ebitda, with targeted margins reaching an impressive 64%.

Currently approaching 400 MMT, the company operates at a capacity of 627 MMT, allowing for incremental capacity expansion at its own pace. Adani Ports anticipates cash flow generation of Rs 34,500 crore by FY29, achieving an 18% CAGR.

International Operations

In recent years, the company has strategically expanded its international operations. It oversees Israel’s largest port, Haifa Port, in partnership with the Gadot Group—a significant venture established in 2022 that holds strategic importance for India. In July 2022, the company secured a tender to privatize Haifa Port for NIS 4.1 billion (approximately $1.18 billion), with Adani Ports holding a 70% stake and Gadot retaining the remaining 30% under a concession period until 2054.

Additionally, the company holds operations and maintenance contracts in Australia and Tanzania. In Australia, it manages the Abbot Point Coal Terminal in Queensland through a 99-year lease.

The company’s latest international project

involves constructing a container terminal in Colombo, Sri Lanka. This agreement, signed in 2022, includes partners John Keells (34% stake) and the Sri Lanka Port Authority (15% stake). During its recent earnings call, the company noted that operations in Sri Lanka will commence this year, although initial volumes are expected to be modest.

India’s Largest Port Operator

The company is India’s largest port operator, commanding a market share of 27% in cargo volumes, a significant increase from 10% in 2013. Growth has been fueled by operational excellence, cargo diversification, and business model transformation, according to company statements.

The company plans to enhance capacity across all ports, especially those acquired in recent years, and is focused on commissioning the Vizhinjam Port in India.

Logistics Business

The ports business contributes 85% to the company’s EBITDA, while the logistics business is also experiencing significant growth.

The company’s current assets include a rail track network, trains, grain silos, warehousing, trucking, and more. It has demonstrated substantial growth across these assets and has set ambitious goals for eight-fold growth in these verticals.

In fiscal year 2024, revenue from the logistics vertical reached Rs 2,100 crore, up from Rs 600 crore in Fy19. EBITDA has increased from Rs 100 crore to Rs 500 crore, with a margin of 23%. The company anticipates achieving a 45% CAGR in revenue and EBITDA by FY29.

Debt And Credit Rating

The current net operating cash flows exceed a n n u a l l o a n r e p a y m e

. The objective is to reduce the current foreign debt of Rs 6,135 crore to a negligible level by FY27 and then increase it thereafter This strategy will significantly boost return ratios until FY27 and beyond, as projected, with net operating cash flow from operations expected to surpass debt levels until FY41.

Since March 2022, the average maturity has decreased by seven years to 4.6 years by the end of FY24, and the fund from operations to gross debt ratio has risen from 18% to 28%. Similarly, the FFO/interest coverage has improved from 4.5 times to 5.6 times during the same period.

The net debt/Ebitda ratio has decreased from 3.3 times in fiscal year 2021 to 2.3 times in FY24.

CARE Ratings assigned an ‘AAA’ rating to the company—the highest credit rating in India—making it the first private corporate infrastructure developer to achieve this rating. Additionally, S&P and ICRA upgraded the company’s outlook from ‘negative’ to ‘stable’ during the year

India poised to benet from US tariff hikes on Chinese products, feel Experts

NEW DELHI: US President Joe Biden‘s plan to levy high tariffs on a host of Chinese products, including electric vehicles (Evs), batteries, and medical supplies, will likely benefit Indian exporters, government officials and trade experts believe.

Higher duties on Chinese face masks, syringes, needles, medical gloves and natural graphite could aid Indian exports of these products. By scaling up production and exports of these sough-after products, India stands to boost its presence in the US market, they said.

The White House recently hiked tariffs on Chinese EVs from 25% to 100%, the doubled levies on solar cells from 25% to 50%, and tripled the duty on certain steel and aluminium products from 7.5% or less to 25%.

Washington has reportedly said that these tariffs will hit an estimated $18 billion worth of imports from China.

“It will certainly open gates for Indian products in the markets of developed economies,” said a senior government official, who wished not to be named.

“The US is one of the major export markets for most Indian goods, such as diamonds, medical appliances and accessories, agricultural products, refined petroleum, rice, textiles, and apparel, among others.”

That said, experts also cautioned about the possible dumping of Chinese goods in India. With the US and EU facing reduced imports of Chinese EVs due to tariff hikes, Beijing might divert these products to other markets, including India.

Opportunities for India

“Certain medical products, including PPE kits, syringes, gloves, and others, will enter the US market. India’s position as the second-largest producer of PPE kits, masks, face masks, syringes, needles, and medical gloves will give us a significant advantage, allowing us to benefit from this

opportunity,” said Mr. Ajay Sahai, Director General of the Federation of Indian Export Organizations (FIEO).

To be sure, India is not a leading manufacturer of every Chinese item now facing a tariff hike – China, for instance, is the world’s largest manufacturer of EVs, whereas Indian EV production is negligible. However, the story may be slightly different for some other items. In March 2024, exports of medical plastics, including syringes, catheters, cannulae, and spectacle lenses, surged by 10.4%, reaching $48.7 million from $44.1 million in March 2023.

India has the potential to ramp up its manufacturing capacities in certain segments to tap into opportunities resulting from the high tariffs imposed by the US on Chinese products, making them less competitive, Mr Sahai said.

He also added there were potential export opportunities in aluminium and steel.

In FY24, Indian exports to the US saw a marginal decrease of 1.32%, totalling $77.5 billion compared to $78.54 billion in 2022-23. Simultaneously, imports from the US declined approximately 20%, amounting to $40.8 billion, according to data from the commerce ministry Implications of US-China trade tensions

“These proposed increases are a part of the US’s broader strategy under Section 301 of the Trade Act of 1974, aimed at combating what it deems as unfair trade practices by China,” said Mr. Ajay Srivastava, the founder of Global Trade Research Initiative (GTRI).

Katherine Tai, the US Trade Representative, emphasized that these measures are necessary to counter the flooding of global markets with low-cost Chinese products.

In 2023, the US imported goods worth $427 billion from China and exported $148 billion, highlighting a significant trade imbalance.

Indian Container cargo to grow at 8% in FY25 : CareEdge Ratings

India’s coal cargo throughput at ports is esmated to grow at a CAGR of 3-4 per cent from FY24 to FY26, despiteanancipateddeclineincoalimportsby2-3percent,CareEdgeRangsprojectedinitsrecentreport.

MUMBAI: Container volume is expected to grow by 8 per cent at 342 MMT in FY25, amid the risk of a prolonged Red Sea crisis, according to CareEdge Ratings The slated connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, alongside capacity additions by ports, is expected to drive growth in container volumes over the medium term.

Going forward, significant adverse movement in charter rates impacting cargo volumes and vessels addition by shipping lines shall be key monitorable. CareEdge Ratings expects coal cargo throughput at ports to grow at a CAGR of 3-4 per cent from FY24 to FY26, despite an anticipated decline in coal imports by 2-3 per cent due to increased domestic coal production. The share of coastal cargo is expected to rise from 33 per cent in FY24 to 42 per cent by FY26, as per CareEdge Ratings report. “This growth will primarily be driven by the coastal movement of coal along the easter n coast, complemented by added capacities and synergistic benefits The Government of India's focus on b u i l d i n g a g g l o m e r a t i o n infrastructure for specific sectors like steel and cement and enhancing multimodal connectivity under the Maritime Amrit Kal 2047 vision, also supports the expected increase in coastal movements at ports,” said Maulesh Desai, Director, CareEdge Ratings. Coal throughput witnessed healthy growth from 292 MMT in F Y 2 2 t o 3 6 7 M M T i n F Y 2 3 representing growth of approx 26 per cent. The growth in throughput was supported by increased power generation from thermal plants by 6

per cent to 1059.9 billion units. Against this, the imported coal volume registered a y-o-y growth of 18 per cent to 249 MMT in FY23. However, the volume growth was also driven by increased coastal volumes of coal. Coastal volumes have rose from 80 MMT in FY22 to 118 MMT in FY23 registering strong growth of 47 per cent. During FY24, y-o-y growth in coal throughput was approx 9 per cent which mirrored the increase in thermal power generation by 9 per cent. This support the increase in domestic coal production and continued coastal coal volumes on a high base of FY23. Coastal throughput is expected to increase from 60 MMT in FY21 to 131 MMT in FY24 reflecting a healthy CAGR of around 30 per cent. The same was largely driven by an increase in cargo movement on the eastern coast with the ramp-up of o v e r a l l v o l u m e s a t Pa r a d i p , Gangavaram, Krishnapatnam, D h a m r a a n d G o p a l p u r p o r t s Contribution of coal cargo of the overall coastal volumes has increased from 22 per cent in FY21 to 33 per cent in FY24. “The Red Sea crisis has led to an increase in voyage span by 15-20 days, in addition to higher freight rates. However, the capacity liners' readiness to expand container c a p a c i t y o w i n g t o h e a l t h y profitability by chartering additional vessels, cascading capacity from other regions and accelerating fleet renewal bodes well for mitigating t h e i n c r e a s e d t r a n s i t t i m e s The impact on cargo will primarily a f f e c t f o o d g r a i n s a n d o t h e r perishable items, along with freightsensitive or low-value cargo, which is estimated at 10-15% of container volumes. Going forward, significant

adverse movement in charter rates impacting cargo volumes and vessels addition by shipping lines shall be key monitorable,” Desai added India relies on the Suez Canal route for its trade with European countries, North Africa and the Americas, which collectively account for about 35 per cent of India's total foreign trade, primarily in the container segment However, the impact on cargo will primarily affect food grains and other perishable items, along with freight-sensitive or low-value cargo, which together constitute 10-15 per cent of the total volumes. I n d i a ’ s m a r i t i m e s e c t o r i s represented by the 12 major ports and more than 200 non-major ports along the 7,500 km of coastal line. Overall, cargo throughput at Indian ports is at its all-time peak at 1539 MMT (Million Metric Tonne) for the financial year ended 31 March 2024, i e FY24 representing almost 7 per cent growth over FY23. Cargo throughput for FY21-FY24 was also healthy marked by a compounded annual g r o w t h r a t e ( C A G R ) o f 7 per cent Resilient economic activity, increasing demand & consumption of major commodities, declining shipping freights and traffic recover y post covid were the prominent growth drivers. Cargo at Indian ports is dominated by 3Cs. i.e. Crude Oil (termed as Petroleum Oil Lu b r i c a n t s ( P O L ) ) , C o a l a n d Containers. These three commodities represent 74-75 per cent of total cargo throughput handled by ports. Over the past 3 years ended FY24, POL witnessed a moderate CAGR of 4 per cent while coal and container volumes witnessed healthy CAGR of 13 and 9 per cent respectively.

Centre’s capex cut logistics cost for businesses : FM Sitharaman

N E W D E L H I : T h e C e n t r a l Government has allocated Rs. 43.5 trillion for building infrastructure in the last 10 years, which boosted the economy through a multiplier effect, while lowering logistics cost for businesses, Finance Minister Smt Nirmala Sitharaman said recently She said in a social media post that better road connectivity attracts investments and boosts local businesses by improving market access and reducing logistics costs. Infrastructure spend

“Due to better roads, there is a significant potential savings of Rs. 2.4 trillion to Rs. 4.8 trillion annually in logistics costs,” the Minister said.

Sitharaman said the gross

budgetary support allocated for capital expenditure since 2014 is a 3.72-fold increase compared to that of the period from 2004 to 2014 The Minister’s comments about the government’s strategy of scaling up infrastructure expenditure comes in the wake of both the ruling Bharatiya Janata Party and the opposition Congress party highlighting the economic and fiscal performance of their terms in office, during the ongoing national elections.

“Spending on infrastructure not only boosts gross domestic product (GDP) growth through its multiplier

e f f e c t s o n c o n s u m p t i o n a n d investment but also improves the long-term efficiency of the economy

by reducing logistical constraints,” the minister said in the post, quoting a study by the National Institute of Public Finance and Policy (NIPFP) which said Rs. 1 spent on capital expenditure in the country increases economic output by Rs. 4.80.

“Our Government significantly increased the outlay for capex. As a proportion of total expenditure, capex rose to over 21% in 2023-24, compared to just 12% in 2013-14,” the minister said Since 2014, the National D e m o c r a t i c A l l i a n c e ( N D A ) Government has allocated Rs. 43.53 trillion in Gross Budgetary Support (GBS) capital expenditure, an increase of 3.72 times compared to 2004-14.

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m.v. “MSC SILVIA” Voy : IU419A

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India’s increased trade with Russia not temporary: S Jaishankar

NEW DELHI: India’s increased bilateral trade and new areas of cooperation with Russia is not a temporary phenomenon, Minister of External Affairs S Jaishankar has said recently

“We have long looked at Russia f r o m a p o l i t i c a l o r s e c u r i t y perspective. As that country turns e a s t w a r d s , f r e s h e c o n o m i c o p p o r t u n i t i e s a r e p r e s e n t i n g themselves. The spike in our trade and the new areas of cooperation s h o u l d n o t b e r e g a r d e d a s a t e m p o r a r y p h e n o m e n o n , ” Jaishankar said speaking at the CII Annual Business Summit 2024 held recently.

Russia climbed past the UAE and the US to become India’s secondlargest import source in 2023-24

I n d i a ’ s i m p o r t s f r o m Ru s s i a

increased 32.93 percent to $61.43 billion, propelled mostly by oil.

More partnerships

A n e c o n o m y w i t h I n d i a ’ s prospects has to look at accessing global resources more seriously if it is to fuel its growth, the Minister said. “Many other recent partnerships also offer such possibilities, such as those with Australia and with Latin America, in addition to established ones like Indonesia, Africa and West Asia,” he added.

Indian embassies will also continue extending their fullest support to our economic and employment interests abroad

“On my part, I can certainly assure that the business delegations will continue to accompany me on travels abroad and that, we, in MEA, will facilitate B2B2G events,” he said.

With geopolitical instability, including the Russia-Ukraine war and crisis in the Middle East, rocking the global economy, for India, the task was to mitigate its impact on itself and contribute to stabilising the world to the extent possible, the Minister said. The time has now come for India to start re-engineering the logistical map of the world, Jaishankar Some steps have already been taken, such as the International North-South Transport Corridor that also involves the Chabahar port. “A more ambitious project is on the anvil in the form of the India-Middle East-Europe Economic Corridor (IMEC), which was agreed to during the G20 Summit last September One has the goal of taking us all the way to the Baltic and the other, takes us all the way to the Atlantic,” he said.

Visakhapatnam Port handles highest Material in FY 2024-25

VISAKHAPATNAM:

The Visakhapatnam Port Authority (VPA) has set a new record by handling 10 million metric tonnes (MMTs) of cargo in just 45 days in the present financial year 2024-25.

This achievement surpasses the previous record of 10 MMTs handled

in 47 days during the previous financial year 2023-24.

VPA Chairperson M Angamuthu congratulated traffic manager GRV Prasada Rao and his team for this remarkable accomplishment He commended their dedication and e

instrumental in achieving this

milestone. Chairperson highlighted the significant progress and the port’s c o m m

benchmarks in cargo handling. He further encouraged the team to sustain their excellent performance, aiming to reach a target of 90 MMTs of cargo volume in the current financial year 2024-2025.

Centre to reform Logistics Infrastructure for faster payment and distribution of foodgrains

NEW DELHI: The Centre is planning to introduce logistics reforms for faster payment and distribution of foodgrains, said Union Food and Public Distribution Secretary Sanjeev Choprainaninterview

T h e p l a n i s p a r t o f t h e govenment’s 100-day agenda fixed in a meeting last month between Prime Minister Shri Narendra Modi and the Council of Ministers. In the meeting Modi said the economic momentum should not stop, and that the new government would have to start working from the very next day after taking the oath.

The first 100 days represent a critical window for a new Government to set the tone of Governance and policy direction.

“The 100-day agenda will be f i n a l i z e d a t t h e l e v e l o f t h e G

Government is formed. Once the new Government takes over, broadly it is expected to bring reforms in the payment process and distribution processes. It will be more of a logistic reform in terms of bulk movement of foodgrains and bulk storage of foodgrains,” Chopra said.

Chopra clarified, “We are not thinking of restructuring the fair price shops (FPS) in our 100-day agenda because ration shops are something which have been continuing for the past many years. There have been technological advances.

In terms of data and services, nothing much has really changed because they are run by private dealers who work for a few days and after the distribution,theyclosetheshops ” “ S o , w e a r e e x p l o

possibilities of how to make them more vibrant organizations tapping and leveraging their existence in the area for the past many years. People have some degree of confidence in these FPS. We are focusing on how we can leverage their stature and presence in the area for so long to increase the range of activities they do. We are working on a plan and will come up with it,” Chopra added.

On export curbs on several commodities, including rice and wheat, Chopra said the government has been closely monitoring prices of essential commodities and will take a call depending on the demand-supply situation.

“As of now, there is no proposal for reviewing export curbs on any essential commodities,” the Food Secretary said.

US knows Chabahar Port’s importance : MEA over Iran deal

NEW DELHI : After the US said India’s signing of a 10-year deal with Iran for the operation of Chabahar Port carries “potential risk” of sanctions, the Ministry of External Affairs (MEA) remarked Friday that Washington is aware of the port’s importance, especially with respect to providing

humanitarian aid to the Taliban-ruled Afghanistan. Underscoring that the p o r t a g r e e m e n t i s a “ m a j o r achievement” for India, MEA spokesperson Randhir Jaiswal said:

“The United States understands the importance of Chabahar port for continued humanitarian supplies to

Afghanistan and to provide it with economic alternatives.” He added that the deal signed between India and Tehran reflects India’s commitment towards realising its potential as a “connectivity hub” for Afghanistan and other landlocked countries in the region.

m.v. “KMTC

V - 2416E (KCIS - KMT), IGM NO.: 2377008 DTD. 15-05-2024

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EPIRCHNCWA257793

13

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EPIRCHNQGA251998

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12

EPIRCHNNBO253291

EPIRCHNQGA252108 22

23

HLSC24040039

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FIEO pegs FY25 goods exports at $500-510 Bn; suggest measures to boost shipment

NEW DELHI: The Federation of Indian Export Organisations (FIEO) expects India’s merchandise exports increase around 14% to $500-510 billion in FY25 from $437 billion in 2023-24, led by technology driven sectors of exports such as machinery, electrical and electronic, automobile, pharma and biotechnology which have received a fillip from the production-linked incentive schemes.

It has pushed for Social Media Marketing and exploring the potential of social media like Facebook and Instagram for promoting e-commerce exports.

“The export prospects are better for FY25…We are looking at merchandise exports between $500-510 billion in 2024-25. In services, we expect exports to be around $ 390-400 billion for the current fiscal,” said FIEO President Ashwini Kumar, adding that India’s traditional markets such as the US and Europe and utilisation of India’s free trade agreements with Australia, the UAE and EFTA will boost exports.

Among services, management consultancy and medical tourism are seen growing.

The apex exporters body also hasn’t ruled out dumping of Chinese goods in the wake of the US imposing high duties on goods such as EVs, batteries and high end technology products.

“Dumping isn’t ruled out because China is sitting on overcapacity and one of its large markets may close its doors to it,” he said.

Exporters have sought visas for Chinese technicians and engineers who are required to visit India for setting up factories or machinery here.

“Workers from Taiwan come at four times the price and those from Vietnam are not as expert as the Chinese workers,” said an exporter.

FIEO highlighted the concerns with regard to labourintensive sector of exports like knitted and woven garments, made-ups, footwear, gem and jewellery, in which the country lost market to its competitors.

Red Sea crisis

Moreover, sea freight has risen to $3,700 from $700 due to

the conflict in the Middle East which also added to the transit time.

On the Red Sea crisis, it said that it is having a “significant negative impact on both sea freight and air freight, which is in turn affecting Indian exports”

Rerouting ships has impacted the bottom lines of exporting companies which is especially harsh for products having large volume low value like commodities, where costs have reportedly gone down.

“The longer routes caused by rerouting mean extended shipping times. This has led to disrupt delivery schedules and lead to spoilage of perishable goods,” it said.

As some goods traditionally shipped by sea are being diverted to air due to the crisis, there is a rise in air freight demand which has pushed air cargo costs upwards, with some reports suggesting a jump of over 300% for routes like India to Europe.

“Overall, the Red Sea crisis is creating a challenging situation for Indian exporters,” FIEO said, adding that India has lost few orders due to high freight rates particularly in metal and commodities. Besides reduced competitiveness, delays and higher costs can disrupt the smooth flow of Indian exports, leading to potential order cancellations and reputational damage.

He said that due to the crisis, near sourcing is happening in the affected countries and clients are cautious on how much stocks they should hold.

Ajay Sahai, Director General, FIEO said that now while negotiating contracts, both the exporter and importer take the hit of increased prices. Sahai said that countries are looking at India for long term supply

FIEO has suggested the government to setup an export development fund to support MSMEs with a budgetary outlay of 1% of last year’s exports, higher share of export credit in the net bank credit and a subtarget for exports within overall target for the priority sector lending.

It also pushed for a linkage between FDI and tariff policy coupled with standards and quality control.

India eyes more Chabahar-like pacts: Shipping Minister Sarbananda Sonowal

NEW DELHI: India aims to replicate the Chabahar port model in other strategic locations in the region to gain access to more such assets, said Mr. Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways. India is actively exploring opportunities to enhance its maritime presence and trade connectivity, he was quoted as saying in an interview recently

Mr Sonowal has signed a 10-year pact with Iranian authorities for a longterm bilateral contract to operate Chabahar port. The project was first proposed during former Prime Minister Atal Bihari Vajpayee’s regime.

The project is seen as India’s regional strategic response to Gwadar port in Pakistan being developed under China’s Belt and Road Initiative (BRI) Under the agreement, India will procure, install, and operate key equipment at Chabahar, thefirstoverseasporttobeoperatedbythecountry

According to Sonowal, infrastructure upgrade is a key focus area for the government led by Prime Minister Narendra Modi and the sector has seen significant transformation.

India is currently implementing a Rs 5.8 lakh crore Sagarmala port upgrade plan to modernise ports, improve connectivity, and develop inland waterways.

According to official estimates, there are 839 projects under this initiative, of which 262 have been completed, 217 are under implementation and the remaining 360 projects at the development stage.

“Our ports have seen huge improvement in capacity,

operation and efficiency during the last 10 years,” he said. Sonowal acknowledged regional tensions could have some impact on Chabahar port’s operations but steps can be taken to mitigate the risks — “measures such as strengthening port security and collaborating with regional partners to ensure safe and secure operations.”

PROMOTING STABILITY

The Minister said India will continue to engage diplomatically with regional stakeholders to manage tensions and promote stability.

“We will be implementing comprehensive risk management strategies to anticipate and mitigate potential disruptions,” he said The Minister said Chabahar would be complementary to the India-Middle East-Europe Economic Corridor (IMEC) that New Delhi proposed at the G20 summit in the capital last year IMEC offers alternative routes to stakeholdersinsteadoftheconventionalSuezCanalcourse.

“By leveraging the infrastructure and logistical capabilities of Chabahar port, India can efficiently facilitate the flow of goods and materials, contributing to the success and viability of the IMEC project,” he said. Chabahar port’s strategic location reduces dependence on traditional transit points, he said.

On Sittwe port in Myanmar, Mr Sonowal said significant progress had been made in the development of facilities. The Ministry of External Affairs (MEA) had in April approved a proposal by India Ports Global Ltd (IPGL) to take over operations at the port in the Bay of Bengal.