GUJ-22-06-2023

Milaha : Successfully moves Full Rake with 90 TEUs between Mundra Port & ICD Morbi

DOHA: Milaha announced the successful initiation of Full Rake operation, transporting 90 TEUs between MundraandMorbi.

On June 1st, 2023, Milaha accomplished the movement of 90x20ft empty containers as a single Rail Rake from Mundra Port to ICD Morbi. This service will now facilitate the transportation of fully loaded units back to MundraforloadingontoMilahavessels.

This service will cater to the needs of Tiles and Agricultural related Customers located in and around Morbi, providing them with a convenient round-trip solution. It is worth emphasizing that Milaha is the pioneering Shipping Line to introduce this service to our valued customers, informed a recent communiquefromMilaha.

APM Terminals Pipavav gets maiden call of CCG service; connects Gujarat with the rest of India through coastal route

PIPAVAV: APM Terminals

Pipavav, one of the leading gateway ports in Western India, welcomed the first call of CCG(ColomboCochinGulf)servicelastweek...

Cont’d. Pg. 6

APM Terminals Pipavav gets maiden call of CCG service; connects Gujarat with the rest of India through coastal route

Cont’d. from Pg. 4

...When vessel SM Manali berthed at the port on June 10. CCG service is the flagship coastal service offered by Sima Marine India Pvt. Ltd., a subsidiary of Global Feeder Shipping, a prominent container feeder service company based in Dubai.

The CCG service has been designed under the aegis of Sagarmala, a Government of India’s initiative to unlock the potential of waterways and the coastline through port-led development. The service rotation includes Mundra, Pipavav, Mangalore, Cochin, Colombo, Katupalli, Vizag, Krishnapatnam,Katupalli,Colombo,Cochin,andMundra.

Commenting on the berth, Mr. Girish Aggarwal, MD, APM Terminals Pipavav said "We are delighted to welcome CCG service at APM Terminals Pipavav. This marks an important milestone for us as the service helps in strengthening our connectivity with the rest of India. We are committed to providing efficient and reliable services to our customers, and this partnership with Sima Marine India Pvt Ltd reinforces our commitment to facilitateseamlesstradethroughcoastalandExportImport

sectors. We look forward to a successful collaboration and themutualbenefitsitbringstothetrade."

Mr. Mike Hilton, Vice President of Sima Marine India Pvt Ltd, also expressed his thoughts on the call-"WebelievethattheCCGservicewilleffectivelycaterto the needs of top corporates in the region and facilitate the continuous movement of commodities like soda ash, wheat, tiles, and cotton. By offering competitive rates and supporting the Indian Government's initiative to promote containercoastalmovement,weaimtobeanintegralpartof India's success story. Our goal is to attract more coastal cargo movement and serve pan-India through the sea route."

The CCG service marks the second offering by Global Feeder Shipping to call APM Terminals Pipavav, with the first being the MPG [Mundra Pipavav Gulf] service that commenced regular weekly calls in December 2022.

A.P. Moller – Maersk to revolutionise eCommerce in India with a ‘One Country, One Price’ fulfilment solution

The new eCommerce fulfilment soluon will provide single window access to the enre logiscs ecosystem for brands selling their goods online, including eCommerce system integraon, warehousing, country-wide distribuon and returns at a flat rate of INR 80 / USD 1 per order.

MUMBAI: A.P. Moller – Maersk (Maersk) has announced a revolutionary eCommerce fulfilment solutioninIndiawithwhichallelements ofaneCommercefulfilmentsolutionwill be available through a single window at a flat rate of INR 80 per order. This solutionhasprimarilybeentargetedata typical small or medium eCommerce business in India that relies on multiple logistics partners for different activities. With this solution, Maersk is taking the complexities out of its customers’ supply chains by providing single-window access to all required solutions, such as storage in warehouses, last-mile deliveries and executing return orders, all while providing end-to-end visibilityatunifiedpricing.

Vikash Agarwal, Managing Director, Maersk South Asia, said, “India’s eCommerce business has great growth potential. But the highly fragmented market and supply chain complexity are hurdles to many businesses' growth. Withournewsolution,wewanttostaytruetoourpurposeof improving life for all by integrating the world.” He added, “With our ‘One Country, one Price’ solution, we will take complexities out of our customers’ supply chains and grow withthemastheyfocusonwhattheydothebest.”

Boosting trade in a digital Bharat

The recent India e-Conomy Report 2023 shows that in India, the average hours spent per day per user are 6.5 as compared to 5.5 in China and 7 in the USA. However, when it comes to digital payments, the number of real-time transactions per capita per year is 65 in India as compared to 12 in China and 8 in the USA. India had 220 million online shoppers between May 2022 and May 2023.

Further, the report shows there are 700 million internet users in the country, of which 350 million use digital payments. These staggering statistics prove the potential the eCommerce sectorholdsinIndia.

The Integrated Solution

In a typical fulfilment solution for an eCommerce business, multiple interfaces are involved that take care of different elements oflogistics.Itallstartswithpickingupfinishedgoodsfroma manufacturing facility or origin and moving them to a warehouse. Then comes the element of receiving orders through an online eCommerce platform and connecting that order for further processing at a warehouse before it is delivered to the end consumer. All these solutions are managed by more than one logistics partner in India. With the new eCommerce fulfilment solution, all these logistics requirements will be available to the eCommerce business through Maersk as a single partner. The enablers for Maersk to deploy such a solution include multiple warehousingfacilitiesinmultiplecities.

One Country, One Price

The prevalent fragmented logistics solutions are also responsibleforfragmentedbilling.ECommercebusinesses are charged differently and separately for each logistics service rendered, making for extremely complex billing. With its ‘One Country, One Price’ solution, Maersk is bringing all the services under a single charge of INR80/USD1perorder.Thiswillinclude60daysofstorage, delivery across India covering 18000 pin codes in 48 hours, 20%returnstoorigin(RTO)andatnofixedmonthlycostsor nominimumorders.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 22/06/2023

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

LIQUID CARGO VESSELS

SHIPS NOT READY FOR BERTH

KANDLA INTERNATIONAL CONTAINER TERMINAL

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

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

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

TO LOAD FOR FAR EAST, JAPAN, CHINESE PORTS & AUSTRALIAN PORTS

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

& CIS PORTS

TO

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

OTHER PORTS OF GUJARAT

JAMNAGAR (BEDI) PORT

(As on 21-06-2023)

of last minute change in the data published the Management of Daily Shipping Times exercise every necessary care & attention in collecting every data & getting it published accurately Inspite of this, if any ommission, inaccuracy or printing error occur in the data published in this daily, the Management of Daily Shipping Times is not responsible or liable.

CBIC is looking at reducing average release time to one hour by 2047” - Chairman, CBIC

NEW DELHI: “CBIC is looking at reducing average release time to one hour by 2047, while focusing on the threemostimportantaspectsoftrade facilitation, which are regulatory framework, technology, and infrastructure”, said Shri Vivek Johri, Chairman, CBIC, MinistryofFinance,Governmentof India in his address at the Inaugural SessionofCIINationalConferenceon TradeFacilitationinNewDelhi.

Shri Johri further added that WTO’s Trade Facilitation Agreement has provided a great thrust to improving the trading across borders environment in India. He informed that 80-100% consignments are already meeting the release time targets envisioned under the Action Plan. CBIC is also looking at Mutual Recognition Agreements (MRAs) for enhancing effectiveness of the AEO Programme and would also be working on self-certification of origin which is a major expectation from all stakeholders.

He also mentioned that CBIC is working on challenges and opportunities arising from Ecommerce. Further, he talked about a majorimprovementinreleasetimeat

Petrapole Port. In sum, he said trade facilitation has trickled down in Government and is yet to trickle up in privatesector.

Mr Rajiv Talwar, Member (Customs), CBIC, Ministry of Finance, Govt of India while addressing the Session on Streamlining and Expediting the Clearances stated that all the participants of the ecosystem that is importers/exporters, port authorities and regulatory bodies among others must understand their role in operations and strive to achieve it effectively. He emphasized on the importance of the Authorized Economic Operator (AEO) Programme which has helped in significant reduction in dwell time in both seaports and air cargo complexes.

MsVRamaMathew,Member(IT, Taxpayer Services & Technology), CBIC, Ministry of Finance, Govt of India while addressing the session on Leveraging technology for Trade Facilitation highlighted that several dynamic reforms are in pipeline such as SWIFT 2.0 which will greatly rationalize the documentation procedure for PGAs. She stated that

there is a lot of focus on Artificial Intelligence and Blockchain Technology to facilitate smooth auto population of data and ensure data integrityaswellasauthenticity.

Mr Sanjay Budhia, Chairman, CII National Committee on Export-Import and Managing Director, Patton Group in his address stated that continued focus on creating a paperless trading ecosystem by measures like Faceless Assessment, Risk Management System and Direct Port Delivery have started showing results at the ground level with India’s score moving up from 78.49% in 2019 to 90.32% in 2021 in the UN Global Survey on Digital and SustainableTradeFacilitation.

Mr M Ponnuswami, Co-Chairman, CII MSME Council and Chairman and Managing Director, Pon Pure Chemicals appreciated the efforts undertaken by CBICin recent years that have significantlyimprovedtheeaseofdoing business in India and facilitated smoother trade. He also insisted that there is an urgent need to spread awarenessamongstindustrymembers abouttradefacilitationreforms.

US share in India's Merchandise Exports up despite diversification move

NEW DELHI: Notwithstanding India’s efforts to diversify its merchandise exports, the country’s dependence on the US for its outbound shipments has increased overthepast12yearsby7percentage points to touch 17.4 per cent share in 2022-23(FY23).

In contrast, the share of the US in

India’s total exports has continuously declinedfromahighof21.7percentin 1998-99toalowof10.1percentin201011, reveals India’s Department of Commerce data. During the pandemic years of 2020-21 and 202122, the export share of the US was evenhigherthantheFY23levels.

In its vision statement released

during the mid-term review of the 2015-2020 foreign trade policy in 2017, the Ministry of Commerce said the policy of market diversification that has stood India in good stead during the global economic downturn will continue to be a key determinant of the country’s trade policy, together withproductdiversification.

UAE to take over Karachi Port Terminals

LAHORE: Pakistan has constituted a negotiation committee to finalise a deal with the United Arab Emirates (UAE) for handing over the Karachiportterminals.

This move may mark the first intergovernmentaltransactionunder a law enacted last year to raise emergency funds, The Express Tribunereported.

Finance Minister Ishaq Dar chaired the meeting of the Cabinet Committee on Inter-Governmental CommercialTransactions.

The Cabinet Committee decided to set up a committee to negotiate a commercial agreement between the Karachi Port Trust (KPT) and the

UAE Government, according to the decision.

The negotiation committee has also been permitted to finalise a draft operation, maintenance, investment, and development agreement under the governmentto-government arrangements with a nominated agency of the UAE for handing over the Karachi port terminals.

The negotiation committee set up to finalise a framework agreement will be headed by the Minister for Maritime Affairs, FaisalSabzwari.

The committee members include the additional secretaries of Finance

and Foreign Affairs, the special assistant to PM Jehanzeb Khan, the Chairman of the Karachi Port Terminal (KPT), and the general managersoftheKPT.

Pakistan aims to reach a deal to handovertheterminalstoAbuDhabi Ports (ADP), a subsidiary of the Abu DhabiPortsGroup.

The UAE Government had shown interest in acquiring the Karachi port terminals that were under the administrativecontrolofthePakistan International Containers Terminals (PICT)lastyear.

Abu Dhabi Ports, part of AD Ports Group, owns or operates 10 ports and terminalsintheUAE.

Tighter origin norms likely to check cheap imports

NEWDELHI:Indiaisconsidering tighter origin rules to check imports of cheap and substandard shipments fromthirdcountriestakingadvantage of New Delhi’s Free Trade Agreements(FTAs).

The Commerce and Industry Ministry is exploring certain criteria which have been used in the trade pactsinkedbydevelopedcountries.

“The terminologies used in the rules of origin are evolving rapidly

UP exports up

and we are looking at those which are being used frequently, especially by developed countries. The idea is to check circumvention and cheap imports,”saidanofficial.

Conditions such as minimal operations, de-minimise or tolerance, accumulation, accounting segregation, transitional arrangements and absorption or roll over principles are being considered, some of which are alreadyinIndia’sFTAs.

Accounting segregation can be a criterion for products that are of the same kind, commercial quality, and technical and physical characteristics, and which cannot be distinguished from one another for origin purposes. The absorption or roll-up principle allows intermediate productstomaintaintheiroriginating status when they are used for subsequent manufacturing operations.

100% in 6 years;

a

Rs 84,000 crore to Rs 174k crore

LUCKNOW: An assessment undertaken by the UP State Export Promotion bureau has noted that exports from the state have gone up over100%inthepastsixyears.

Data from the department indicated that UP undertook exports to the tune of Rs 84,000 crore in 201617. The corresponding figure for the 2022-23yearwasRs174,000crore.The department is eying to make exports cross Rs 200,000 crore in the present financialyear.

Details indicated that the top 10 buyers of goods from UP are USA, UAE, Nepal, UK, Germany, Vietnam, the Netherland, France, China and Egypt. Together they contribute to 60%ofUttarPradesh'sexports.

Among the products which are driving up the state’s exports are

telecom instruments, buffalo meat, RMG cotton, including accessories, RMG manmade fibre, leather footwear, saddlery and harness, aluminum and aluminum products, silk and handmade carpets, machinery and engineering goods, wheat, rice, sugar, iron and steel, handicraftsetc.

Mr. Nand Gopal Gupta Nandi, Minister for Industries, Export Promotion, NRI and Investment Promotionsaid:'Theplanforthe202324 financial year includes widening the export basket and increasing the number of exporters in the state, capacity building on export processes, unlocking the export potential of ODOP and geographical indication, leveraging e-commerce for exports growth, hand holding

rise

from

expertise at ground level, facilitate product development among other things.'

Earlier, as per an assessment by Federation of India Exports Organisation (FIEO), the reasons for UP’s growth have been the export promotion schemes of the state government. If an exporter is registered with the export promotion bureau,theywillbehelpedwith60%of thestallchargesatforeignfairs,upto a maximum of Rs 2 lakh, 60% of economy air fare up to a maximum of Rs1lakh,60%ofthetotalexpenditure on publicity up to a maximum of Rs 75,000 annually, 75% of the cost of sendingsamplestoaforeignbuyer,up toamaximumofRs1lakhperannum and 50% of the cost of certification, up toamaximumofRs2lakhperannum.

India to cross Rs 1,20,000 cr in mobile exports in FY24, Apple to surpass 50% share: ICEA

NEW DELHI: India is set to cross Rs 1,20,000 crore in mobile phone exports in the current fiscal year drivenbytechgiantAppleontheback of friendly Government policies and production-linked incentive (PLI) scheme, the country's top electronics industrybodytoldnewsagencyIANS.

India Cellular and Electronics Association (ICEA) said that mobile phone exports have already registered a massive 128 per cent

growth in the months of April-May thisyear.

Pankaj Mohindroo, Chairman, ICEA said, "Mobile phone exports growth in 2023-24 have bucked the trend of falling exports with a growth of 128 per cent in the first two months of2023-24."

"We are confident of crossing Rs 120,000 crore in this financial year comparedtoRs90,000croreinthelast financial year which was a

phenomenal 90 per cent growth," Mohindrooadded.

According to the ICEA, Apple's share is set to exceed 50 per cent in FY24.InMay,iPhoneexportsreached a record Rs 10,000 crore, pushing the total mobile shipments from the countrytoRs12,000crore.

The Country surpassed a remarkable Rs 90,000 crore worth of smartphone exports in the fiscal year 2022-2023.

Reliance Industries resumes vessel operation at Sikka Port

JAMNAGAR : India’s Reliance Industries, operator of world’s biggest refining complex, has resumedvesseloperationsattheport of Sikka in Jamnagar, Gujarat, industrysourcessaid,asthecoastline recovered from the impact of Cyclone Biparjoy.

“AnyvesselcallingtheSikkaPorts &TerminalsLtd(STPL)canenterthe Gulf of Kutch,” sources who received anoticefromthecompanysaid.

The company had restricted entryofvesselsat theportlastweek “due to unavailability anchorage position.”

Atleast13-21tankerswerewaiting to discharge crude oil at port, an industry source said and ship-tracking data showed recently. Several ports in Gujarat had suspended cargo operations last week due to unsafe weather conditionsatsea.

About 2.74 million metric tons (20.12 million barrels) onboard 21 oil tankers were waiting to discharge, oneofthesourcessaid,whileRefinitiv ship-tracking data showed 12.87 million barrels onboard 13 tankers werewaitingtounloadatSikkaport.

Meanwhile, the Astro Chloe discharged 1.9 million barrels of crude oil on Sunday at the port of Vadinar, the source added and Kpler datashowed.

India’s Exports likely to touch USD 1000 bn by 2024-2025: PHD Chamber

High growth export desnaons and commodies to enhance India’s Exports to new highs

NEW DELHI: Amidst the slowdown in the global demand, India’s exports are likely to touch US $1000 billion by 2024-25, said an analysisconductedbyPHDResearch Bureau,PHDChamberofCommerce andIndustry.

The dynamic policy environment provided by the government along with efforts of the exporters to connect with global value chains will enhance the export volumes in the coming times, said Mr. Saket Dalmia, President, PHD Chamber of Commerce and Industry, inapressstatementissuedhere.

Though some slowdown is seen in the short-term, till September 2023, due to the uncertainties and recessionary headwinds in some of the advanced economies, exports are expected to pick up significantly from the month of October 2023, said the industrybodyPHDCCI

The emerging high growth destinations such as Togo, Netherlands, Brazil, Israel, Indonesia, Turkey, Australia, South Africa,SaudiArabiaandBelgiumand highgrowthexportcommoditiessuch as Sugar and confectionary, Mineral fuel and oils, aluminum and articles, inorganic chemicals, ships, boats and floatingstructure,rubberandarticles and optical, photographic, medical apparatus would enhance India’s export growth to new highs, said the industrybodyPHDCCI.

The top 10 highly growing export destinations have shown a consistent growth during the last five years (FY 2019 to FY 2023 average) including Togo (73%), the Netherlands (36%), Brazil (28%), Israel (27%), Indonesia (24%), Turkey (22%), Australia (20%), South Africa (19%), Saudi Arabia (16%)andBelgium(13%).

Exports to these countries have grown at high growth rate amidst the global economic slowdown. These countries are emerging major growth destinations for India’s exports though the volumes have to pick up in the coming times, said Mr.SaketDalmia.

The top 10 highly growing export commoditieshaveshownaconsistent high growth during the last five years (FY 2019 to FY 2023 average) including Sugar and confectionary (43%), Mineral fuel and oils (36%), Electricalmachineryandparts(27%), aluminum and articles (18%), inorganic chemicals, precious and rare- earth metals (16%) miscellaneous chemical products (16%), Cereals (14%), iron and steel (12%), ships, boats and floating structures (11%), rubber and articles (11%) and optical, photographic, medicalapparatus(10%).

The high growth-high volume export commodities have significant potential to enhance India’s exports growthtonewhighssaidMrDalmia.

India’s exports have increased from US $498 Billion in 2020-21 to US $770Billionin2022-23,saidMr.Dalmia

The growth of services during the last two years at 24% (average) is commendable as our services have shown a great resilience and price competitiveness in the global markets,saidMr.SaketDalmia.

The growth of services exports will also be a major growth driver to achieve the ambitious targets of USD 1 trillion by 2024-25 and USD 2 trillion by2029-30.

The launch of India’s new Foreign Trade Policy (FTP) 2023 with its five keyelementsofDuration,Dynamism, Decentralisation, Direction and Disaster proofing, is aimed at creating an enabling ecosystem for exporters. It shall bolster India’s export quantum while considering the size of the Indian economy and its manufacturing and service sector base,saidMr.SaketDalmia.

The FTP 2023 aims to increase India’s competitiveness in the global marketsbypromotinganddeveloping each state to be able to integrate with theglobaltradewhichisamoveinline with India’s vision of becoming “Atmanirbhar” (self-reliant), said Mr.Dalmia.

Going forward, ease of doing exports with calibrated reforms by the government will be crucial to achieve the target of USD 2 trillion by 2030,saidMr.SaketDalmia.

Review committee set to clear Rs 41,000 crore Nicobar Port project

KOLKATA: A high-powered committee (HPC) formed to scrutinise the environmental clearance (EC) given to the Centre’s ambitious Great Nicobar transshipment port project is likely to give its all-clear to the proposed project, which has been halted since April, multiple senior officials told .

On April 3, the Kolkata Bench of the NationalGreenTribunal(NGT)puta two-month stay on any further work in the EC granted to the project. The Rs 41,000 crore project would be on hold until the NGT-appointed committee scrutinises the green approvalgrantedbytheCentre,read theorder.

The committee was given two months to scrutinise “unanswered deficiencies” in the EC, which allegedly failed to address severe environmental and regulatory concerns related to the development of the mega port, which the Centre aims at building in a public-private partnershipmode.

Mango Exports to US double, realisation high

MUMBAI: Mango exports to the US have crossed 2,000 tonne in the current season, up from 891 tonne in the 2022-23 season. The exports of Banganpalli and Kesar varieties have commenced this season to South Korea, another high value market. Exports to the United Kingdom is currentlybeingundertaken.

Exporters said that Alphonso and Kesar varieties have been sold in the US market at a premium of $ 9/a kg and$7/akgrespectively.

Trade sources said that one of the factors behind the spike in mango exportstotheUSandtheUKthisyear

has been the low cost of air freight rates, which rose sharply in the last few years because of the pandemic, has‘normalised’sincethen.

“The price gap between an Indian mango and those sourced from South American countries has reduced and because Indian mangoes are sent through air freight, its aroma and freshness is preserved while mangoes from South America is transported through road to the USA,” Kaushal Khakhar, CEO, Kay Bee Exports, one of the leading Mango Exporter from Maharashtrasaid.

Officials said that the irradiation facility at Gujarat Agro Industries Corporation, Ahmedabad, along with similar facilities at Vashi (Navi Mumbai), Nasik and Bengaluru has helped expand mango exports to a high value market such as the United States. The Agricultural and Processed Food Products DevelopmentAuthority(APEDA)has assisted state government agencies in setting up vapour heat treatment facilities in Saharanpur (Uttar Pradesh), Vashi (Maharashtra), Nuzvid and Tirupati(AndhraPradesh).

Air-conditioned cabins for trucks will soon be made mandatory: Gadkari

NEW DELHI: Air-conditioned cabins for trucks will soon be made mandatory, Union Minister Shri Nitin Gadkarisaid.

As drivers play a key role in the transport sector, which is one of the most important areas for India as the fastest growing large economy in the world, there is a need to address issues regarding their working conditions and state of mind, the Minister of Road Transport and Highways said here.

He was speaking at an event to

unveil a book — ‘Desh Chaalak’: A bookhonouringIndianDrivers.

Lamentingthattruckdrivershave been forced to work in extreme heat conditions, the minister said that he has been pushing for air-conditioned cabins for truck drivers for a long time.

“Some peopleobjected to itsaying it will increase costs…but before coming here I have signed on the file that henceforth, driver cabins in trucks will be air-conditioned,” Gadkarisaid.

He stressed the need to improve

the working conditions of drivers and also take steps to overcome the shortageofdriversbysettingupmore drivingschools.

Due to the shortage, drivers in India are working 14-16 hours at a stretch while in other countries their working hours are fixed, Gadkari added.

With India emerging as the fastest-growingmajoreconomyinthe world, he said logistics is very important and there is a need to reduce the cost of logistics in order to increaseIndia’sexports.

Transpacific and Asia-Europe rates at Dec 2019 level : Drewry

• Asia-Mediterranean volumes remained strong, gaining more than 20% y-o-y, likely accounng for firmerrateperformanceonthislanethanonothermajortrades.PhotofromCMACGM

• Asia-US and Asia-Europe spot rates are back to December 2019 pre-pandemic level aer last week’s surge,butDrewrysaysratesonothersegmentsandcontractmarketsslldeclining

• Transpacificspotrateshadslid80-84%intheyeartoMay31,butDrewrydismissedthisasacorrecon fromsuper-inflaonarytrendsintheCOVID-19period,notacollapse

• On the transatlanc route, which has different dynamics and vessel sizes from the larger East-West routesconnecngAsia,spotratesaresll62%higherthanpre-pandemiclevels

LONDON: Transpacific and Asia-Europerates on container shipping spot markets have returned to December 2019 pre-pandemic levels following last week’s surge, but Drewry says other segments and contractmarketswillstilldecline.

Rate trackers estimate transpacificspotrateshadslid80-84% intheyeartoMay31,butDrewrysaid this was a correction from superinflationary trends in the COVID-19 period, not a collapse. The factors behind the recent crazy rates –capacity shortages, strong demand andportcongestion–haveallgone,so the rates have returned to previous levels.

To put the 80% year-on-year reduction in perspective, the weekly Drewry World Container Index also provides a comparison, the supply chainadvisorsaid.

“In fact, when compared with December 2019, the latest transpacificspotratesarebroadlythe same!Youcouldsaythatspotrateson thisroutehavefullynormalized,”said Drewry, adding some transpacific spotratesarelowerthanthese.

Drewry said its rate assumptions are using average “all-in rates” including both origin and destination terminal handling charges and fuel surcharges. It cautions the transpacific spot rates comparison does not take into account the inflation many economies have

experienced between 2019. “And now, if you take into account inflation, then spot rates are actually lower than in 2019,”Drewrysaid.

The transatlantic route is different, as it does not follow the trends of the transpacific and AsiaEurope rates, Drewry said. On this route, which has different dynamics and vessel sizes from the larger EastWest routes connecting Asia, spot rates are still 62% higher than prepandemiclevels.

Drewry noted that rates they had dropped 47% in the year to May 2023, but it forecasts that transatlantic westboundrateshavefurthertofall.

“So, if you ship mainly using the spot market, you should consider these findings that transpacific spot rates have now “fully normalized”, and transatlantic rates have only partlynormalized.

Judah Levine, Head of research at Freightos, attributed last week’s rate surge to June general rate increases (GRIs), reduced capacity, some slowdown in West Coast traffic duetodockworkers’actionsbeforelast Friday’s tentative contract agreement between their union and employers, and surcharges for ships passing throughdrought-hitPanamaCanal.

But soft demand for goods continuestoweighonfreightmarkets and keep downward pressure on rates,Levinesaid.

Transpacific ocean rates climbed sharply last week on June GRIs, with Asia-USWestCoastpricesincreasing

$250/FEU or 19%, and rates to the EastCoastclimbing12%.

In Europe, there was a slight rebound in ocean import volumes in April that was attributed by some to a modest start to restocking. AsiaEurope ocean rates remained subdued last week at 11% below 2019 levels,thoughdailyratesforthisweek may show signs of some 10% rebound tostartthemonth,Levinesaid.

Asia-Mediterranean volumes remained strong, up 20% y-o-y, likely accounting for firmer rates on this lane than on other major trades. Prices of $2,364/FEU last week remain 28% higher than in 2019, makingthelane’sbenchmarktheonly elevated relative to pre-pandemic levels.

Drewry’s composite World Container Index had shed 5% to $1,592.25 this week and dropped 79% from the same week last year. The index reached $10,377/FEU September 2021 but is 41% lower than the 10-year average of $2,688, indicating a return to more normal prices, but remains 12% higher than average 2019 (pre-pandemic) rates of $1,420.

Shanghai-Los Angeles and Shanghai-NewYorkratesdropped8% each to $1,746 and $2,733/FEU. Rates on Shanghai-Rotterdam fell 7% to $1,349/FEU. Similarly, RotterdamNewYorkratesslid5%to$3,195/FEU. Rates on Los Angeles-Shanghai and Shanghai-Genoa hovered around the previousweek’slevel.

PSA Mumbai sets new record by handling m.v. MSC Hamburg, India’s Largest Container Vessel Call (399 M LOA)

NAVI MUMBAI:

On 17th June 2023, PSA Mumbai, India’s Premier Container Terminal, achieved a significant milestone in the country's maritime industry by successfully handling MVMSCHamburg,thelargestcontainervesselever tocallanIndianPort.

This remarkable accomplishment highlights PSA India’s exceptional capabilities and commitment to facilitatingGlobaltradeconnections.

Measuringimpressivelengthoverall(LOA)of399meters the MV MSC Hamburg surpassed the previous record heldbytheAPLRaffles,operatedbyCMACGM,withan LOAof397.00metersataNorthwesternportin2022.The MSC Hamburg has a nominal capacity of 16,652 TEUs.

PSA Mumbai recorded a total of 3,221 moves (4,888 TEUs) on MSC Hamburg & completed the vessel operations in 20 hours 44 minutes achieving VR (Vessel Rate) of 155.35 moves/hour & BP (Berth Productivity) of 132.55 moves/hour. This emphasizes the terminal’s operational capabilities which strengthen its competitiveness as a significant player and preferred containerterminalintheentirewesternregionofIndia.

PSA Mumbai’s ability to handle the MV MSC Hamburg not only showcases its world-class infrastructure but also solidifies its position as the preferred terminal for mega-container vessels. The terminal’s strategic location in Mumbai,

amajorcommercialhub,ensuresseamlessconnectivity to global markets, making it an essential gateway for importersandexporters.

With its deep draft and cutting-edge handling capabilities, PSA Mumbai offers unparalleled efficiency and capacity, serving as an indispensable link in the globalsupplychain.

Mr.GobuSelliaya,CEOofPSAIndia, expressedhis appreciation to PSA Mumbai and all stakeholders for their support in achieving this remarkable feat. He also emphasized that the successful completion of Phase 2 would further enhance PSA Mumbai’s capabilities, enabling it to meet the growing demand for in-container transportation and capture the largest share of maritime tradeinthewesternregion.Bythe1stquarterof2025,PSA MumbaiaimstoaddresscapacityconstraintsatJNPAby leveraging its extensive infrastructure and facilities, as well as diverting focus toward inland components for effectiveintegrationwithhinterlandcustomers.

Capt. Madhan Mohan, CEO of PSA Mumbai, commented, “PSA Mumbai continues to attract large-sized ships, solidifying its position as the most preferred gateway for India’s Export-Import cargoes. The handling of MV MSC Hamburg marks an important milestone in the development of the next-generation terminal at PSA Mumbai. With the increasing container traffic year on year, PSA Mumbai is well equipped to accommodatetherisingtrendincontainertrafficacross theentirewesternregion.”

Gati enhances its Direct coverage by increasing 1000 Pin Codes

Commenting on the development, Mr. Pirojshaw

MUMBAI:GatiLtd.,anAllcargo Group company and one of India’s premier express logistics and supply chain solutions providers, has added 1000 Pin codes to its direct delivery coverage network, increasing its direct coverage by 25percent.

With Gati’s unmatched transportation, warehousing, and service delivery capabilities, businesses now can scale up their operations effectively andsustainablyacrossthecountry.

Leveraging Gati’s direct connectivity to the Pincodes,businessescanbolstertheirsupplyefficiency withfaster,safer,andcost-effectivemovements.Withthe expansion of direct delivery to 5140 PIN codes, customers can now benefit from better transit time, and reliabilityandcanscaletheirbusinessestoamuchwider network

Sarkari, Managing Director and Chief Executive Officer of Gati Ltd. said, “With 1000 more direct delivery Pin codes, we have further enhanced the reach of our direct delivery network across the country. This shall be a continuous endeavor at Gati to give fast and direct access to its customers. By building a robust network, we are not only driving efficiencies for large enterprises but also strengthening small and medium-sized businesses, thuscontributingtoeconomicgrowth.”

Gati has a massive service network of rapid and reliable transportation services across 19800 Pin codes covering735districtsoutof739districtsinIndia.

As part of the Allcargo family, this increased direct reach also strengthens Gati’s position as an end-to-end integrated logistics service provider, offering its customers access to a network operating in 180countries.