GUJ-22-05-2023

Adani Ports handles highest-ever

Rail Cargo of over 120 MMT in FY22-23

APSEZ generates a record revenue of Rs 14,000 crore for Indian Railways in FY23

• Adani Ports surpasses the previous best of 98.61 MMT in FY22

• Cargo handled by rail has grown by 22% YoY

• In FY23, Mundra Port handled 15,000 container trains

VISAKHAPATNAM: Adani Ports and Special Economic Zone Limited (APSEZ), a flagship company of the Adani Group, has setanewbenchmarkbyhandlingthehighestever rail cargo of 120.51 MMT in the financial year 2022-23, surpassing the previous best of 98.61 MMT. Cont’d. Pg. 19

ONE Line : AIM Service to add Hazira Call

SINGAPORE: Ocean Network Express (ONE) is pleased to announce that AIM weekly service will change its portrotationasfollows:

CurrentPortRotation:JEA–MUN–NSA–CMB-DUR –TEM–TIN–APP–DUR–JEA

New Port Rotation: JEA – MUN – HZA – NSA –CMB–DUR–TEM–TIN–APP-DUR-JEA

The new rotation will take effect as from M/V BEA SCHULTEv.2323W,arrivinginHazira14June2023(ETA).

By the change, ONE will provide more option of INDIA ports to customers for smooth and better transport solution,statesacommuniquefromONE.

MSC Containership fleet to hit 5mn TEU capacity this month : Alphaliner

LONDON: MSC is set to be the First Container Line to have fleet of 5mn TEU in capacity later this month according to analyst Alphaliner. MSC overtook Maersk to become the World’s Largest container carrier 16 months ago and continued stream of secondhand purchases and newbuildingshasseenitsfleetcontinuetogrowrapidly.

In its weekly newsletter, Alphaliner said MSC’s fleet stood at 4,956,720 TEU across 753 ships as of 16 May and with the newbuildings MSC Michel Cappelini and MSC Gemma set to be delivered from Yangzijiang and CSSC respectively it would cross the 5 mn TEU threshold beforetheendofMay.

Cont’d. Pg. 6

Commerce Ministry seeks Rs. 2.5K cr more to back Exporters

NEW DELHI: The Commerce Ministry has sought an additional Rs. 2,500 crore to settle arrears related to its interest rate equalization scheme that aims to alleviate stress among exporters by compensating them for a portionoftheinteresttheypayonloans.Themoveaimsto mitigate the challenges small exporters face in view of risinginterestratesanddiminishingexports.

Theborrowingrateformostmicro,small,andmedium enterprises (MSMEs) has already crossed the doubledigitmark,exporterssaid.

“We ran out of money for the interest equalization schemeandaskedforanadditionalRs.2,500crorefromthe FinanceMinistry,”saidaGovernmentofficial.

MSC Containership fleet to hit 5mn TEU capacity this month : Alphaliner

Cont’d. from Pg. 4

Putting the size and growth of MSC’s fleet in perspective at 5 mn TEU it would be roughly equal to the entire Global Container shipping fleet at the turn of the millennium.

With a hefty newbuilding orderbook of 127 vessels with a combined capacity of 1.66 mn TEU the 6 mn TEU mark for MSC’s fleet is not much more than a year away. Alphaliner estimated it could reach a fleet size of 6 mn TEU by mid-2024, although the exact timing depends on vesselacquisitionsandsales.

Visakha Container Terminal creates new Milestone

VISAKHAPATNAM: The Visakha Container Terminal recently welcomed the longest and biggest vessel they have handled to date. On 7th of May 2023 vessel M.V. Prague Express, with LOA 336 meters and Beam 43 meters (width), GRT (weight) 93,750 ton having a carrying capacity of 8,750 TEU was handled efficiently. A parcel size of 2,094 TEU was handled with a Gross Crane rate of 34 moves per hour which is testimony to the terminal's excellent operational efficiency and world-class infrastructure.

The 2M Alliance with Maersk officially expires in early 2025 and MSC is seen as having the scale to go it alone outside of major alliances, as it has previously indicateditplanstodo.

“Unlikemostothershippinglineswithinthetop-ten, MSC’s sheer scale will allow the carrier to offer attractive port pairs on all key trade lanes without joining another alliance set-up. Alphaliner nevertheless expects MSC to maintain selected smaller-scale partnerships on a number of trades,” theweeklyreportsaid.

ZIM announces investment in Spinframe, a provider of an Innovative Vehicle Monitoring Platform for Maritime and Land Supply Chains Checkpoints

HAIFA: ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), along with other investors, announced the initial closing of an $8 million financing round in Spinframe. ZIMledthisinvestmentaspartofitsstrategy to invest in early-stage companies involved in the digitalization of supply chains who offer novel cuttingedgeserviceswithhighgrowthpotential.

Spinframe develops vehicle-inspection systems basedonartificialintelligence(AI),computervision,and machine-learning technologies, that create “Digital Twins” for vehicles throughout the supply chain and detect anomalies from the assembly line throughout thevehiclejourneytothedealershipandendcustomer.

Spinframe’s innovative system exhaustively documents vehicles and uses AI to quickly identify defects and external damage. The platform is capable of overseeing a large number of vehicles without human intervention in various locations, such as seaports, transportation and logistics hubs, parking lots, agencies, rentalbranches,andservicecenters.Thecombinationof advanced image processing, damage classification, and data cloud storage allows for immediate vehicle visualizationandstatussharingatanystage,viaaunified interface.

Spinframe’s monitoring platform has already been implemented at a wide range of customers within the automotive industry, including prominent automotive OEMs, such as Volkswagen, car rental companies and dealerships.

The investment funds will be utilized by Spinframe to develop new and unique capabilities of Spinframe’s platform, as well as to deliver a robust pipeline to implement solutions with new customers globally. In particular, the company aims to expand its activities throughout the vehicle maritime transport segment. Recently, Spinframe won an Ashdod Port tender, which will now use its offering to monitor vehicle disembarkmentattheport.

Eli Glickman, ZIM President & CEO, said: “AfterconductingsuccessfulPoCs,wehaveidentifiedthe immense potential of Spinframe’s technology and its applicability to our industry. As part of our overall approach and strategy, we actively seek out and invest in promising young companies as growth engines. This investment represents another successful partnership with a startup that specializes in digital automation solutions for the benefit of our customers. We take pride in supporting and enabling promising companiestoflourishandachievetheirfullpotential.”

Ori Dangur, Spinframe’s CEO, said:“Thispastyear, Spinframe has grown significantly, and we are happy to see customers’ conviction in our technology. We believe that our unique all-encompassing solutions have the potential to significantly improve the automotive supply chainandthroughourcollaborationwithZIM,ourability to execute our strategy has been greatly enhanced. We are confident that with our investors’ trust and ZIM’s cooperation, we will continue to grow and deliver onthepotentialourtechnologyholds.”

Höegh RoRo App

OSLO: Need the latest vessel schedule or want to contact a local Höegh Autoliners representative? Have you downloaded the official Höegh Autoliners app, Höegh RoRo? This tool allows quick and easy access to the company’s latest shipping information on your device, informs a recent communiquefromHöeghAutoliners.

Downloadapp:

This free app - available in Google Play and the Apple App Store - allows customers, agents, employees and otheruserstoaccessthefollowinginformation:

SailingSchedule

“Look for the latest up-to-date sailing schedules by portlocationortrade.

Trades

Viewourglobaltradesystems.

CargoServices

CheckouttheservicesofferedbyHöeghAutoliners.

ContactUs

Find the contact details of Höegh Autoliners offices globally. Simply search for the location (city or country name)toretrievethecontactdetailsforthatoffice.

Map Need to find your closest Höegh Autoliners office or port? This function finds the nearest office or port via your phone's GPS.Asimplemapviewincludingdrivingdirections!

Ports

Search by location (city) and you will get a list of vesselscallingthatportandtheirschedule.

Vessels

Search by vessel name to get all information related to that vessel including the vessel’s main particulars, metrics,andschedule.

TruckerVerification

Check the space allocation on your booking before arrivingattheterminal.

CargoSearch

Track your cargo by entering your VIN, Booking Reference Number or Bill of Lading. Your last searches will be stored for easy reuse. Use your windows username and password to access thissection.

Asyad Group and The Environment Society of Oman launch Insightful Lecture Series on Climate Change

MUSCAT: Asyad Group and the Environment Society of Oman(ESO)havejoinedforcesto launch an insightful series of lecturesthatshedlightonthechallengesfacingOmanin its fight to tackle climate change. The lectures and technical seminars are planned to take place from late May2023toearlyJanuary2024.

The global integrated logistics provider partnered withESOtoimplementthisjointundertakinginlinewith Asyad’s sustainability strategy and commitment to strengthen cooperation on environment and climate issues between business and civil society organizations acrossOman.

This dedicated series of lectures and workshops will leverage the combined resources andexpertise of Asyad and ESO to highlight the urgency of adapting to environmental challenges and the need for impactful transformative action. Local and international experts will join representatives from both organizations to explain how individual, organizational and national action is needed today, more than ever, to achieve the Sultanate’s climate change goals, starting from its nationalobjectiveofnetzeroby2050.

Explaining the value of the joint initiative, Essam Al Sheibany, VP Sustainability at Asyad Group, said: “As a national and global corporate citizen, we are proud to take part in this initiative as one of our many impactful environmental and sustainability programs. Through this awareness-raising series, our group is following throughonitsunwaveringcommitmenttosupportOman in its endeavor to achieve net-zero by 2050 and play our global part in helping realize the UN Sustainable Development Goals related to climate change and sustainability.”

“Raising awareness amongst the general public and professionals on climate issues and inspiring collective

action is instrumental to complement our large-scale initiatives and plans to create a more sustainable logistics sector with a lower carbon footprint,” Al Sheibany added. “Asyad Group is keen on protecting the environment and building a brighter tomorrow, that is why we have undertaken numerous emission-reduction andsolar-energyinitiativesatourportsandgearedupto support Oman’s nascent hydrogen sector, all under our unified strategy to join the world’s fight against climate change.”

Rumaitha Al Busaidi, Middle East Climate Strategist and Executive Board Director at ESO, said: “The Environment Society of Oman has embraced the momentum of a growing and deeper public acknowledgment that we are facing an urgent planetary crisis. We want to encourage more people and entities to joinusintryingtosuccessfullyaverttheworstimpactsof climate change and support the accelerated efforts towards our goals of biodiversity protection and a netzero emissions economy by 2050. It may be a challenge, but it is definitely one worth rising to because it is only through empowerment and collective action that we can secure a better future for our generation and many generationstocome.”

The anticipated ESO-Asyad series will consist of four lectures open to the public, three discussion clinics targeted to specific audience groups, and one white papertohelpprepareforOman’sparticipationinthe28th session of the Conference of Parties (COP28) the annual Climate Change Conference organized by the United Nations.

Asaglobalplayerinlogistics,AsyadGroupcontinues to push forward with its sustainability strategies to create a low-emission logistics ecosystem, mitigate the impact of climate change in Oman and beyond, and transform the Sultanate into a sustainable global logisticshub.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 22/05/2023

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

VTC Dragon 21/05 Bangladesh

Ashico Victoria 21/05

DMC Jupiter 21/05 Arezoo 21/05 Bandar

Tai 22/05 Sweden

22/05

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

/ IN PORT FOR IMPORT DISCHARGE

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

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

GUJARAT + NORTH INDIA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

FOR WEST ASIA GULF, RED SEA & EAST AFRICAN PORTS

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

OTHER PORTS OF GUJARAT

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

The above vessel has arrived on 21-05-2023 at MUNDRA PORT with Import cargo from LIBREVILLE, TEMA, CONAKRY, ONNE, TINCAN/LAGOS, LOME.

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

m.v. “MSC LAUREN” Voy : IS320A

The above vessel has arrived on 20-05-2023 at MUNDRA PORT with Import cargo from ANTWERP, SAN JUAN. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

MUNDRA PORT SEZ

The above vessel has arrived on 20-05-2023 at MUNDRA PORT with Import cargo from ANTWERP. Please note the item Nos. against the B/L Nos. for MUNDRA delivery

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 20-05-2023 at MUNDRA PORT with Import cargo from BRIDGETOWN, ANTWERP, CORONEL, CALDERA, HAMBURG, AARHUS, FREDERICIA, TALLINN, BELFAST, FELIXSTOWE, TEESPORT, DUBLIN, ROTTERDAM, RODMAN, JEDDAH, KING ABDULLAH PORT, GOTEBORG, HALMSTAD, PARAMARIBO.

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

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 :

MSC AGENCY (INDIA) PRIVATE LIMITED

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

Adani Ports handles highest-ever Rail Cargo of over 120 MMT in FY22-23

APSEZ generates a record revenue of Rs 14,000 crore for Indian Railways in FY23

Cont’d. from Pg. 4

APSEZ is committed to providing end-to-end logistics. Under the General Purpose Wagon Investment Scheme (GPWIS) of Indian Railways, cargohandledbyrailhasgrownby62% YoY. Mundra Port handled over 15,000 containertrainsinFY23,cementingits position as India's Export Import gateway. In FY23, APSEZ generated aroundRs14,000croreinrevenuefrom railcargoforIndianRailways.

In FY23, double-stack container trains handled by Mundra Port grew by4.3%YoY.

Doublestackloadingofcontainers ontrainsensurestransportationinan energy efficient and reliable manner, reducing overall per unit cost and improvingcustomersatisfaction.

It demonstrates Mundra Port's commitment to environmentally friendly operations. The use of rail transport reduces the carbon

footprint of freight transport, and the efficient handling of container trains reduces the need for additional truck transport, further reducing carbon emissions.

India’s largest commercial port operator, Adani Ports has been a leader in the development of India's port and logistics infrastructure. This feat is an example of responsible business practices and sustainable development.

Commerce Ministry seeks Rs.2.5K cr more to back Exporters

Cont’d. from Pg. 4

“The plan has received approval fromfinance,butthefinalcallwouldbe takenbythecabinet,”hesaidfurther.

The additional requirement of Rs. 2,500 crore for the scheme in FY23,ifclearedbythecabinet,means thetotalspendingbytheGovernment would be a a record Rs. 4,876 crore, almost double the allocation made for the year. The Government allocated Rs.2,932croreinFY24fortheinterest equalization scheme, up by about a fourth of Rs. 2,376 crore allocated in FY23.

The Reserve Bank of India (RBI) had raised key policy rates six times in a row to tame inflation before it decided to pause in April. The central bank had hiked the repo rate cumulatively by 250 basis points (bps) sinceMay2022to6.5%.

The allocation for the interest equalization scheme was already increased sharply to Rs. 2,376 crore comparedwithRs.1,900croreinFY22 and Rs. 1,600 crore in FY21 as the war

in Ukraine and the covid-19 pandemic drove central banks globally to increase the cost of borrowing to arrestrecord-highinflation.

India’s goods exports fell the steepestinthreeyearsinAprilthanks to weakening global demand and declining commodity prices. Exports declined by nearly 13% in April to $34.66 billion from $39.70 billion in the year-ago period. Besides, merchandise imports also fell by 14% to $49.90 billion during the month, from$58.06billionayearearlier.

Explaining the benefit of the interest equalization scheme, FISME’s Animesh Saxena said that exporters receive a subsidy on interestratesunderthescheme.

“If I have a working capital limit from a bank and if the bank is charging 8% from me and the subsidy is 3%, some banks will charge 8% of whatever I have borrowed and every quarter, they will refund me the 3%. Some banks only charge 5% at the outset after adjusting the subsidy,”

Saxenasaid.

He further added that the scheme is crucial for exporters because, internationally, interest rates are about4-5%.

“Indian companies, when they were borrowing at 8-9%, their goods were becoming expensive. So, to give them some relief, the Government brought this scheme so that Indian exportersdonotfaceabnormallyhigh prices,”hefurtheradded.

Amiddemandforadditionalfunds, Saxena said that this scheme helps exportersremaincompetitive,butthe demand scenario has to improve for India’s exports to grow at a healthy pace.

Barring four countries, exports to all top major destinations declined from 4% to 43% in April this year comparedwithlastyear.

Driven by petroleum product exports, outbound shipments to the Netherlands, UK, Saudi Arabia, and Italy grew 23%, 20.7%, 8.38% and 3.59%,respectively.

Gujarat plans to set up new Industrial Estates in 13 Districts

GANDHINAGAR: Cabinet Minister and Government spokesperson Minister Shri Rushikesh Patel announced that the Gujarat Industrial Development Corporation (GIDC) has received approval for a preliminary feasibility study to establish new industrialestates.

CM Shri Bhupendra Patel’s initiative aims to promote industrial growth and generate employment

opportunities. The GIDC, under the guidance of the CM, has decided to establish GIDCs in 13 districts, including Rajkot, Mehsana, Mahisagar, Bharu-ch, Banaskantha, Patan, Chotaudepur, Girsomnath, Gandhinagar, Kheda, Amreli, Anand, andJunagadh.

The decision follows a comprehensive assessment, including apre-feasibilitystudytodetermineland

availability, demand surveys, local factors,andagriculturalproduction.

At the State Cabinet meeting chaired by CM Bhupendra Patel, Minister Rushikesh Patel emphasized thatrapidindustrialdevelopmentiskey to achieving economic growth. Gujarat, through visionary planning by the CM and PM Shri Narendra Modi, has emerged as a leading state in employmentgeneration.

Freight corridor linking Moscow with Mumbai slowly taking shape

NEW DELHI: The long-planned International North–South Transport Corridor (INSTC) is taking shape connectingMumbaitoMoscow.

The INSTC, a project originally launched by Russia, Iran and India in 2002, is a 7,200 km-long multi-mode network of ship, rail, and road to move freight between India, Iran, Azerbaijan, Russia, Central Asia and Europe. The objective of the corridor is to increase

trade connectivity between major cities such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas and Astrakhan. Russia claims the project could ultimately rival the Suez Canal in terms oftradeflows.

Recently Russian President Vladimir Putin and his Iranian counterpart Ebrahim Raisi signed a deal to finance and build the 162 km Rasht-Astara Iranian railway, a key link

intheemergingfreightcorridor.

The railway along the Caspian Sea coastwillhelpconnectRussianportson the Baltic Sea with Iranian ports in the IndianOceanandtheGulf.

The two leaders have also discussed building ships in Iran which will be dedicated for the Caspian as part of the corridor, with Putin also saying he would be keen to invest in Iranianports.

Waterways used for 1st time for transportation of Heavy Industrial Machinery from Gujarat to Assam

SURAT : In an attempt to enhance Aatma Nirbhar Bharat, two massive reactors weighing about 1,160 Megatonne (MT) and 663 MT have been transported from Surat in Gujarat to Assam’s Numaligarh Refinery via NationalWaterway-2.

Assam CM Shri Himanta Biswa Sarma writes, “This is excellent news. Before 2014, who would have imagined that heavy industrial machinery would be transported from Gujarat to Assam via waterway and nothighway!”

Meanwhile, Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal wrote, “Waterways are becoming the New Highways of #NewIndia. Hon’ble PM Shri @narendramodi ji’s efforts have rejuvenated the sectorandthisisjustthestartofanexcitingfuture.”

Northeast India is set to transform its transportation sector with the opening of the Sittwe Port, according to Sarbananda Sonowal, the Union Minister of Ports, Shipping&WaterwaysandAyush.

The port, built under the Kaladan Multimodal Transit Transport Project (KMTTP) with grant assistance from the Government of India, will provide an alternate route to internationalsearoutesforlandlockedNortheastIndia.

Once operationalised, the Sittwe Port is expected to act as a harbinger of transportation for the region of South Asia, enabling multi-modal transit connectivity with Southeast Asia. This port is likely to unlock huge potential for growth and efficient transportation between the two regions for a transformational rise of prosperity and economicdevelopment,Sonowalsaid.

TheJogighopaProject,developedon 317 acres of land along the Brahmaputra, is being constructed by the National Highways and Infrastructure Development Corporation Limited and will be connected by land, rail, air and waterways. The 154 km project connectivity between Jogighopa and Guwahati will have a 4-lane road, a 3 km railway line connecting Jogighopa station with the multimodal logistics park, and another 3 kmrailwayconnectiontotheinlandwaterway.

The project will also have various advanced facilities like a warehouse, railway siding, cold storage, customs clearance house, yard facility, workshop, petrol pump, truck parking, administrative building, boarding lodging, and water treatment plant. The state-of-the-art park, which is being constructed at a cost of Rs 693.97 crore, will providedirectwaterway,land,railandairconnectivity.

Machilipatnam Port construction works begins today

HYDERABAD: AP Industries and Commerce Department Special Chief Secretary R Karikal Valaven recently claimed that the State Government was ahead in providing robust facilities towards improving Ports and Maritime related wealth compared to other States across theCountry.

Speaking on the occasion, the Special CS said that the first phase of the Machilipatnam port works will be completed in 30 months and added that the port will be spruced up beautifully. This will provide employment to 25,000peopleinKrishnadistrict,headded.

HefurthersaidthattheGovernmentwasalsoimproving transportfacilities(roadandrail)toimproveconnectivityto alltheports.HesaidthattheStatewasmakingrapidstrides towardsindustrialandeconomicdevelopment.

He said that the Chief Minister would start the port works on May 22. He also said that the port would provide employmentopportunitiestoyouthinthedistrict.

The port will have the handling capacity of 80,000 MT. Port Managing Director Vidya Sankar, MEGA projects head Tulasi Das, RDO I Kishore and others accompanied theSpecialChiefSecretary.

UK and US sanction more elements of Russian Shipping

TOKYO: Western leaders starting their three-day G7 Summit in Japan announced a broad new wave of sanctions targeting Russia designed they said to further crippler the Russian economy and limit its ability to finance and pursue the war in Ukraine. While much of the shippinginfrastructurehasbeenundersanctionsformore than a year, new elements are being included in the next wave of sanctions which also increases efforts touching on the energy, metals, defense, transport, finance, and other sectors. The United States is expanding its efforts into

services ranging from architecture to engineering, construction,andmanufacturing.

“Our collective efforts have cut Russia off from key inputs it needs to equip its military and is drastically limiting the revenue the Kremlin receives to fund its war machine,” said Secretary of the Treasury Janet Yellen detailing the U.S. portion of the new initiative. “Today’s actions will further tighten the vise on Putin’s ability to wage his barbaric invasion and will advance our global effortstocutoffRussianattemptstoevadesanctions.”

Drewry: World Container Index down 78% compared to last year

LONDON: Drewry’s composite World Container Index decreasedby1%to$1,719.95per40ftcontainerlastweek. Drewry’sdetailedassessmentforThursday,18May2023

• The composite index has decreased by 1% last week, and has dropped by 78% when compared with the same week lastyear.

• ThelatestDrewryWCIcompositeindexof$1,719per 40-footcontainerisnow83%belowthepeakof$10,377reached in September 2021. It is 36% lower than the 10-year average of $2,688,indicatingareturntomorenormalprices,butremains 21%higherthanaverage2019(pre-pandemic)ratesof$1,420.

• The average composite index for the year-to-date is $1,868 per 40ft container, which is $820 lower than the 10-year

average($2,688mentionedabove).

• The composite index decreased by 1% to $1,719.95 per 40ft container, and is 78% lower than the same week in 2022. Freight rates on New York – Rotterdam fell 6% or $50 to $839 per feu. Rates on Shanghai – Rotterdam slid by 4% to settle at $1,542 per 40ft box. Similarly, rates on Rotterdam –New York contracted by 2% to $4,434 per 40ft container. However,ratesonLosAngeles–Shanghaigained1%to$1,029 per feu. Rates on Shanghai – Los Angeles, Rotterdam –Shanghai, Shanghai – Genoa and Shanghai – New York hovered around the previous week’s level. Drewry expects East-West spot rates on routes other than the transatlantic to bestableinthenextfewweeks.

Major Ports weighs incentives to ships to motivate “green culture”

NEW DELHI: The Ministry of Ports, Shipping, and Waterways is pushing the 12 State-Owned Ports to introduce incentives to ships, terminal operators, and trucks to motivate “green culture” as part of a plan to decarbonise the sector and meetclimatechangegoals.

Ships (export-import and coastal) calling at Major Ports which are using cleaner fuel, as compared to the conventional fossil fuel, and vessels having shore power reception facility to accommodate the full running load at berth, including cargo handling equipment, may be incentivized through queue priority or rebate in berth dues, according to the Green PortGuidelinesissuedbytheMinistry.

Private craft operators at ports using alternate fuel (green fuel) such as methanol, ethanol and hydrogen fuel cell technology may

be offered incentives.

Private operators, stevedores, agents, and exporters-importers runningtheirequipmentandvehicles with green fuel/electric for all its fleet may be identified and recognized through green certification and consideredforincentives.

Truck operators who use green fuels such as CNG/LNG/Hydrogen and its derivative or electric fleet may be identified and incentivized, the guidelinesstated.

Major Ports shall also ensure that green and sustainability aspects are suitably incorporated into the DPR (Detailed Project Report) while formulating PPP (Public Private Partnership)projects.

Major Ports shall devise suitable mechanism(s) to incentivize the existing PPP concessionaires to adopt greener and carbon neutral

designs and procedures in line with the spirit of the Green Port Guidelines,itadded.

Ports are expected to play a key role in contributing towards India’s de-carbonization efforts by adopting green initiatives to meet the pledge made at COP 26 for reaching net-zero emissionby2070.

This will also help in contributing towards moving closer to the UN Sustainable Development Goals (SDG) which includes obligations on developingresilientinfrastructurefor safe,efficient,andsustainableports.

The Ministry’s de-carbonisation plans include promoting use of renewable energy, reducing air emissions, optimizing water usage, improving solid waste management, andreducingcarbonemissionperton ofcargohandledby30percentby2030 and70percentby2047.

India’s exports to EU worth USD 1.3 bn to be impacted by EU’s deforestation regulation : GTRI

NEW DELHI : Indian exports of productslikecoffee,leatherhidesand paperboard worth USD 1.3 billion annually to the European Union will get impacted due to the deforestation regulation adopted by the EU earlier this week, a report by economic think tank GTRI said on Thursday. Within threeweeksofintroducingthecarbon border tax, the European Union Council on May 16 adopted the European Union Deforestation-Free ProductsRegulation(EU-DR).

The Global Trade Research Initiative(GTRI)saidthattheEU-DR appears to prioritise protecting its own agricultural sector and promoting exports, making imports more difficult as it is a trade barrier disguisedasagreenmeasure.

The regulation covers cattle, buffalo, the meat of bovine animals, preparations, Oil cake, soya beans, palm oil, cocoa bean, powder, chocolate, coffee, leather hide, skin, paper, paperboard, wood, wood articles, wood pulp, boards

andwoodfurniture.

The exporters now have to ensure that these products have been grown on land, which has not been deforested after December 31, 2020. Thenewruleswillapplytolargefirms after 18 months and small firms after 24 months. Thus, the timeline for large firms is December 2024 and for smallfirmsisJune2025.

“EU DR will adversely affect India’s exports to the EU of the value of US 1.3 billion (2022 data). The significant products affected and their export value to the EU are Coffee (USD 435.4 million), Leather hides, skin, preparations (USD 83.5 million), Oil cake (USD 174.5 million), Paper, paperboard (USD 250.2 million) and Wood furniture (USD 334.6million),” thereportsaid.

For the products covered under the carbon tax and EU-DR, the EU’s share in India’s global exports is 23.6 per cent, it said, adding the regulation poses challenges for small and medium-sized enterprises,

ascompliancecostsandduediligence requirementsmayexcludethemfrom globalagriculturaltrade.

“Carbon tax would hit trade in industrial products and EUDR would hittradeinagriproducts.Bothplanto cover all products in the near future. EU’s assault on trade is near total,” GTRI Co-Founder Ajay Srivastava said.

The European Union (EU) claims it wants to reduce its contribution to global deforestation by promoting ‘deforestation-free’ products, but this is seen as a deceptive narrative, the reportsaid.

“The EU itself has extensively expanded agricultural land by cutting down primary forests, which now accountforlessthan0.7percentofits total forest area, compared to the global average of 33 per cent. Many other countries, facing the need to convert primary forests into cultivable land to feed growing populations, have a much larger shareofprimaryforest,”itadded.

India's forex reserves edge towards $600 billion, hit near 1-year high

MUMBAI: According to the Reserve Bank of India's (RBI) statistical supplement released, India's foreign exchange reserves grew for a third straight week and reached $599.53 billion for the week ending May 12.

This was their highest level since early June.

India's foreign exchange reserves increased by $7.196 billion to $595.976 billion in the week ending May 5, 2023, bringing them one step closer to the $600 billion

threshold. The reserves would increase for the second straight week. All other indicators, excluding SDRs, advanced during the week under review, with foreign currency assets (FCA) being the main driver.

m.v. “MSC KRITTIKA” Voy : JR319R

I.G.M. NO. 2344077 (EDI) Dtd. 18-MAY-23 Exch Rate 84.22

The above vessel has arrived on 19-05-2023 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 19-05-2023 at MUNDRA PORT with Import cargo from SHUWAIKH, COLOMBO. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

MUNDRA

11 MEDUKW292651

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 :

MSC AGENCY (INDIA) PRIVATE LIMITED

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

NOTICE TO CONSIGNEES

m.v.

“MAJD”

V-02319E IGM NO: 2344027 DATE: 17-05-2023

The above vessel has arrived at Mundra on 19/05/2023 as per following details.

7500139369833

2 7500139349834

3 7500139339835

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING duly discharged and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS / lCD's movement due to port congestion or any other cause beyond the control of the Shipping Line / Agents are not responsible for the same. Also note that the Shipping Line / or their Agents will not be held responsible for auction by Port / Customs / Custodian of uncleared cargo on expiry of stipulated period as laid down in the byelaws.

Consignees are advised that the carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods.

For vessel ETA / IGM- ITEM/ Exchange Rate / Local charges & Detention Charges please contact our office.

Emirates Shipping Agencies (India) Pvt. Ltd

Rajkamal-II, Office No. 103, 1st Floor, Plot No. 342, Ward - 12/B, Gandhidham - 370201. India. In case of any query kindly contact the below E-mail IDS & Phone Numbers : IMPORT related : ravi.vaghela@in.emiratesline.com Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 89809 97977

EXPORT related : benoy.varghese@in.emiratesline.com Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 89800 25092

Tracking : http://www.emiratesline.com : 8090/eadmins/igm_main.jsp.

Japan to help build industrial value chain linking B’desh Port & India’s NorthEast

NEW DELHI: Japan wants to achieve more synergy between its development cooperation in India’s northeastern states and neighbouring Bangladesh, including using the Matarbari Sea Port to create a new industrial value chain, Japanese Ambassador Hiroshi Suzuki saidrecently.

Japan is the largest foreign development partner for both the northeastern states and Bangladesh, and it is playing a key role in the construction of the Matarbari deep seaport in Cox’s Bazar district. In March, the Japan International Cooperation Agency (JICA) extended three infrastructure construction loans worth $1.2 billion for the port project.

“What Prime Minister [Fumio] Kishida wants to achieve is to have more synergy between what Japan is doing in terms of development cooperation in northeast India and

whatJapanisdoinginBangladeshand harnesstheMatarbarideepseaportto create a new industrial value chain,” Suzukisaidinaninterview.

Japan’s efforts in this region will replicate its achievements with the Southern Economic Corridor (SEC), which links Thailand, Cambodia and Vietnam, though the work is expected to be completed in a much shorter time than the nearly three decades it took to create the Southeast Asian corridor. The SEC led to not just connectivity but a new industrial value chain emanating from Bangkok and going through Phnom Phen and HoChiMinhCity,Suzukisaid.

“We want to achieve a similar story by harnessing the Matarbari deep seaport. JICA is now working very hard in Bangladesh to develop this deep seaport [which] can be a game changer. Big container ships can come here and from Matarbari, you can export

anywhereintheworld,”headded.

JICA’s work to build roads and bridges in India’s northeast and in Bangladesh has proceeded so far on separate tracks. “What Prime Minister Kishida wants to do is to connect these two so that India’s northeast can become a natural destination for prospective future investment,”hesaid.

The Matabari seaport is expected to become commercially operational in 2027, and this will also drive investments in the region. Kishida wantstocreateanewindustrialvalue chain to use “these connectivities to the fullest extent possible”. Suzuki recently travelled to Tripura to convene a Track 1.5 conference that was attended by Union Minister for development of northeastern region G Kishan Reddy, Bangladesh’s Maritime Transport Minister, Deputy Foreign Ministers of both countries andtopbusinesspersons.

S&P retains India credit rating; expects sound fundamentals to underpin growth

NEW DELHI: The Indian economy is performing well amid challenging global conditions and sound fundamentals will underpin its growth over the next two to three years, S&P Global Ratings said recently, retaining the country's sovereigncreditrating.

S&P affirmed its 'BBB-' long-term and 'A-3' short-term, unsolicited foreign and local currency sovereign

credit ratings, while retaining the outlook on the long-term rating at stable.

"The stable rating outlook reflects our expectation that India's sound economic fundamentals will be sufficient to offset the government's weak fiscal performance, helping to sustainelevatedGovernmentfunding needsandahighinterestburdenover thenext24months,"analystswrotein

arelease.

S&P expects India's economy to grow by about 6% in 2023/24, with investments and consumer momentumhelpinggrowthprospects overthenextfewyears.

Although India's public finances remainweak,stronggrowthincapital expenditure (capex) allocations booststhequalityofthegovernment's fiscalprograms,S&Psaid.

India Post looks at private sectors to improve supply chain management

NEW DELHI : Indian government is looking at roping in private players for route optimization of the Indian Postal network. The department of posts under the Ministry of Communications is looking at route optimizationofitsnetwork.

It is learnt that the PPP (publicprivate-partnership) option for the endeavour is under discussion and someagreementshavebeenfinalised forboostingorderfulfillment.

A lion’s share of India Post’s revenues comes from the parcels and it wants to optimize that because that’s where they want to maximize the revenues, experts feel.

Globally a lot of postal companies are engaged in optimizing their route network, driver management etc.

It is learnt that the government has developed a framework of this BOT (build-operate-transfer) module. They have also invited comments for public evaluation and the Government has proposed a 30-year moratorium in terms of building the assets and then givingitbacktorailways.

One such partnership is with NimbusPost, for which an initial agreementhasbeensignedwithIndia Post to provide seamless shipping experience for eCommerce sellers andbuyers.

“With this partnership, we aim to expand our countrywide reach by

leveraging the most extensive and robust courier network of India Post. We look forward to adding more value to the Indian eCommerce and shipping industry through this promising collaboration,” said Yash Jain, the Founder and CEO of NimbusPost.

Following the partnership, NimbusPost will integrate its platform with India Post’s APIs to provide end-to-end shipping solutions, including pick-up, packaging, and delivery services. The collaboration will also enable eCommerce sellers to track their shipments in real-time and receive notifications at every stage of the shippingprocess.

NOTICE TO CONSIGNEES

m.v “MOMBASA EXPRESS” V-2320S IGM NO: 2344051 DATE:

17-05-2023

The above vessel has arrived at Mundra on 20/05/2023 as per following details.

Item Nos. B/L NOS. Item Nos. B/L NOS.

4 EPIRTZDBFL000176

5 EPIRTZDBFL000186

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING duly discharged and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS / lCD's movement due to port congestion or any other cause beyond the control of the Shipping Line / Agents are not responsible for the same. Also note that the Shipping Line / or their Agents will not be held responsible for auction by Port / Customs / Custodian of uncleared cargo on expiry of stipulated period as laid down in the byelaws.

Consignees are advised that the carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods.

For vessel ETA / IGM- ITEM/ Exchange Rate / Local charges & Detention Charges please contact our office.

Emirates Shipping Agencies (India) Pvt. Ltd

Rajkamal-II, Office No. 103, 1st Floor, Plot No. 342, Ward - 12/B, Gandhidham - 370201. India. In case of any query kindly contact the below E-mail IDS & Phone Numbers :

IMPORT related : ravi.vaghela@in.emiratesline.com

Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 89809 97977

EXPORT related : benoy.varghese@in.emiratesline.com

Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 89800 25092

IGM Tracking : http://www.emiratesline.com : 8090/eadmins/igm_main.jsp.

on 21-05-2023 as per following details.

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING duly discharged and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS / lCD's movement due to port congestion or any other cause beyond the control of the Shipping Line / Agents are not responsible for the same. Also note that the Shipping Line / or their Agents will not be held responsible for auction by Port / Customs / Custodian of uncleared cargo on expiry of stipulated period as laid down in the byelaws.

Consignees are advised that the carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods.

For vessel ETA / IGM- ITEM/ Exchange Rate / Local charges & Detention Charges please contact our office.

Emirates Shipping Agencies (India) Pvt. Ltd

Rajkamal-II, Office No. 103, 1st Floor, Plot No. 342, Ward - 12/B, Gandhidham - 370201. India. In case of any query kindly contact the below E-mail IDS & Phone Numbers :

IMPORT related : ravi.vaghela@in.emiratesline.com Tel. No. : +91-2836-239378

ZIM INTEGRATED SHIPPING SERVICES

m.v. “VARADA” V-0064

The above vessel is arriving at MUNDRA PORT on 24-05-2023 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges. Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.

First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201

Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433

Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com Mr. Trinath Pal 9824504315 Email:pal.trinath@zim.com

Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com

NOTICE TO CONSIGNEES

m.v. “KMTC COLOMBO” V-2317E (KCIS - KMT) IGM NO: 2344275

DATE: 19-05-2023

The above vessel is arriving at Mundra on 23-05-2023 as per following details.

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING duly discharged and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS / lCD's movement due to port congestion or any other cause beyond the control of the Shipping Line / Agents are not responsible for the same. Also note that the Shipping Line / or their Agents will not be held responsible for auction by Port / Customs / Custodian of uncleared cargo on expiry of stipulated period as laid down in the byelaws.

Consignees are advised that the carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods.

For vessel ETA / IGM- ITEM/ Exchange Rate / Local charges & Detention Charges please contact our office.

Emirates Shipping Agencies (India) Pvt. Ltd

Rajkamal-II, Office No. 103, 1st Floor, Plot No. 342, Ward - 12/B, Gandhidham - 370201. India. In case of any query kindly contact the below E-mail IDS & Phone Numbers :

m.v. “X-PRESS ANGLESEY” V-23003E

The above vessel is arriving at MUNDRA PORT on 25-05-2023 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.

Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

STAR SHIPPING SERVICES (INDIA) PVT. LTD.

First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201

Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433

Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com Mr. Trinath Pal 9824504315 Email:pal.trinath@zim.com

Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com

NOTICE TO CONSIGNEES m.v.

“SEAMAX STRATFORD” V-23E

The above vessel is arriving at PIPAVAV PORT on 25-05-2023 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.

Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

STAR SHIPPING SERVICES (INDIA) PVT. LTD.

First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201

Tel: (0091-2836) 229543 235282 235283 235383,

GATI : Express Business FY23 EBITDA doubled over FY22

Tonnage growth of 17% over FY22

HYDERABAD: Gati Limited (GATI) one of India’s leading premier Express Distribution and Supply Chain Management company, has reported its unaudited financial results for the quarter ended March31,2023.

ForQ4FY23,Fuelstationsrevenuegrewby8.7%Y-o-Y, forFY23thegrowthstoodat11.5%Y-o-Y.

Commenting on the results, Mr. Pirojshaw (Phil) Sarkari, Chief Executive Officer of Gati Limited said: “The company has recorded a revenue of Rs. 1,469 Crores in FY23 for the express business, witnessing a growth of 18% as compared to the last year. This performance reflects company’s focus on volume growth and operational efficiency. The year saw Gati launching its mega surface transhipment hub at Bhiwandi (Mumbai), in addition to hubs at Nagpur and Guwahati. The Mumbai hub is spread over 1.15 lac square feet with 61 bays and dock leveler. We also saw 100%implementationofdigitale-docketsforretailclients and have started a pilot for MSMEs. The gross margin expansionremainsontrack,witnessinganimprovement of 133bps over last year. In the next phase of infrastructure development, we’ll be setting up four surface transhipment hubs in Bengaluru, Hyderabad, IndoreandKolkata.”

The quarter gone by saw weakness in initial months followed by a very strong March. However, overall weakness in consumer durables and automobile sector, notwithstanding the unseasonal rains dampened the sentiment a bit. Despite tough economic scenario, the company has been able to maintain its performance. Our strategy for delivering such performance remains consistentandreliesonourpillarsofdigitalization,sales acceleration, infrastructure, and operational excellence. We mandated GPS in all Linehaul & Feeder vehicles, to enhance visibility, improve performance & optimized productivity via continuous monitoring. The Company alsoimprovisedondashboarddesignstoenablerealtime data visibility and KPI monitoring. Gati aims to enhance customer experience and operational excellence on front-end digitalization that include CRM system for managing customer relationships, sales acceleration with cluster-based approach, data science and digital payments.

Weanticipateimprovementinourperformanceinthe coming quarters as we continue our journey of customer acquisition and infrastructure amplification. The management aims to launch five more hubs in the coming years that will help improve volumes through enhancedautomation,betterloadfactorandproductivity per head. We also remain committed to our ESG journey and aim to convert entire delivery fleet to electric vehicles/alternate fuel by 2025. During the year, we achieved the milestone of plying 100+ electric vehicles(EVs)acrossIndia.WealsosignedanMOUwith Gentari Mobility (Petronas Group) for 500 EVs under VaaS(VehicleasaService)model.