GANDHIDHAM: The northern cargo jetties of Deendayal Port witnessed an unprecedented milestone w i t h t h e b e r t h i n g o f M.V. CSSC IMMINGHAM at CJ-09, carrying a recordbreaking 1,05,307 MT of US Coal in bulk. Dr. Pramod Sant
Cont’d. Pg. 6
+ NORTH
N A V I M U M B A I : Jawaharlal Nehru Port
A u t h o r i t y - I n d i a ’ s Best Per for ming Port, has signed a Memorandum of Understanding (MoU) for the construction of the Vadhvan Port Project Ltd Cont’d. Pg. 21
Deendayal Port Authority achieves Record-Breaking milestone
Cont’d. from Pg. 4
This marks the largest parcel size ever berthed in the Northern Region of the cargo jetties, cementing Deendayal Port's status as a leader in handling highvolume cargo efficiently
The vessel berthed at CJ-09 on 22nd December 2024, at 09:06 Hrs, after lighterage of 6,000 MT in the midstream. Operations began swiftly at 10:45 Hrs, utilizing 6 Harbour Mobile Cranes (HMCs) and a Floating Crane, complemented by robust onshore equipment comprising 12 excavators and 60 dumpers.
In just 20.25 hours, the vessel discharged an astounding 65,114 MT of cargo by 07:00 Hrs on 23rd December 2024, achieving an exceptional productivity rate of 77,817 Metric Tons Per Day (MTPD). This feat not only reflects the operational excellence of Deendayal Port but also sets a benchmark for productivity in the maritime industry
The vessel completed a 46-day voyage from its load port in Baltimore, USA, carrying a total of 1,11,307 MT of cargo shipped by Consol Pennsylvania Coal Company LLC and received by UltraTech Cement Ltd.
O n b o a r d o p e r a t i o n s w e r e p o w e r e d b y 6 Harbour Mobile Cranes (HMCs), 1 Floating Crane, and 12 Excavators, while the onshore logistics were seamlessly executed with the support of 12 Excavators and 60 Dumpers.
Steamer agency services were expertly handled by M/s James Mackintosh, with efficient stevedoring
services provided by Rishi Shipping (India) Pvt. Ltd.
This landmark achievement highlights the unwavering commitment of Deendayal Port Authority to operational excellence, multimodal efficiency, and customer satisfaction By setting new records and raising the bar for maritime operations, Deendayal Port continues to play a pivotal role in global trade and logistics.
Shri Sushil Kumar Singh, IRSME, Chairman, DPA, congratulates the team & reaffirms confidence in DPA exceeding 150 MMT this fiscal, reclaiming its Numero Uno position in India.
India sets export priorities, readies for US Prez Donald Trump’s trade retaliation with all options open
NEW DELHI: India is finalising its trade strategy with the United States as Donald Tr ump prepares to return to office as President
The government is consulting with industry to identify export priorities, referred to as ‘offensive asks’, while keeping all options open, including a potential mini-trade deal a n d a r e s p o n s e t o Tr u m p ’ s anticipated trade retaliation.
“We have asked the industry how they view trade with the US and the p o s s i b l e i m p a c t o f Tr u m p ’ s pronouncements Their inputs will h e l p u s e v a l u a t e i s s u e s a n d determine offensive interests,” said an unidentified official as cited in the report Offensive asks, which represent proactive demands to expand India’s market access in the US, are being considered as a part of
India’s negotiation strategy
The focus comes amid Trump’s threats of imposing reciprocal taxes on Indian exports, a move seen as retaliation for what he perceives as high tariffs on certain US goods. The commerce and industry ministry is reviewing the contours of the minitrade deal negotiated during Trump’s earlier tenure while preparing to counter any adverse measures “ N e g o t i a t i o n s , d i s c u s s i o n s , retaliation, disputes, or the minitrade deal—nothing is off or on the cards,” the official said.
The US is India’s second-largest trading partner, with Indian goods exports of $53 billion and imports of $30 billion recorded between April and November FY25 US imports from India grew at a compound annual rate of 10.48 percent between
2001 and 2023, far outpacing the 4.76 percent growth in overall imports.
India’s approach, including the feasibility of a mini-trade deal and its response to Trump’s retaliatory measures, will be finalised as his administration makes key policy announcements.
Donald Trump’s re-election as President of the United States is expected to bring a return to his signature protectionist trade policies. These include imposing tariffs,
administration’s trade approach often focused on reciprocal taxes and aggressive measures against trading partners, raising concerns about potential trade wars and economic ripple effects worldwide.
Over 80% of US goods exported to India attract less than 20% tariff
NEW DELHI: The United States’ push to get India to reduce import duties may not yield much for the country, as less than 4 percent of the products from the North American country attract tariffs of over 30 percent, according to a market analysis.
US Ambassador to India Eric Garcetti called for tariffs to be lowered on December 20. Speaking at the US India Business Council event, Garcetti noted the need to make trade “fair and equal” by reducing tariffs.
Garcetti’s statements follow those of President-elect Donald Trump, who last week noted that India charges high tariffs and that the US will follow a reciprocal approach.
The President-elect, who will take the oath of office in January, has already threatened tariffs on China, Mexico, and Canada and called for
retaliatory measures if the BRICS nations move to finalise a currency.
Analysis of 3,638 tariff lines for which data is available for 2023-24 shows that 63.5 percent of categories attract less than 10 percent tariff, while another 17 9 percent, or 651 items, attract 10-20 percent tariff.
Just 20 items attract a tariff of over 100 percent, the chief among them being cars and motorcycles imported from the United States.
Harley-Davidson became a point of contention during Trump’s last term in office. Tesla has been eyeing India. Elon Musk, founder of Tesla, is part of Trump administration.
Evs from the US, at present, attract a 125 percent tariff, as per World Bank data.
The maximum tariff of 150 percent is applicable to wines, whiskies, rum and other alcohol.
Another 42 products attract 60-100 percent tariff and 1.9 percent between 30-60 tariff.
In terms of value, these categories account for just 0 4 percent of the trade to India in 2023-24.
Of the over $40 billion of imports to India, 81 8 percent was within categories that attracted 10 percent or less tariffs, while 15 percent is within categories that attracted 10-20 percent tariffs.
Analysis shows that reducing duties in these categories may not yield much either and could only increase US imports to India by $5 billion, even if it corners the entire market.
India’s total imports in items, which attract over 40 percent tariff from the US was $5.12 billion, while the US contributed only $160 million in 2023-24.
Exporting MSMEs Up from 52849 in 2020-21 to 1,73,350 in 2024-25: Centre
NEW DELHI: The total number of exporting micro, small and medium enterprises (MSMEs) increased considerably from 52,849 in 2020-21 to 1,73,350 in 2024-25, the government said on Monday.
MSMEs exports have witnessed a remarkable rise, increasing from Rs 3.95 lakh crore in 2020-21 to Rs 12.39 lakh crore in 2024-25, underscoring their critical role in boosting India’s economy and strengthening global trade.
M S M E s d e m o n s t r a t e d a n e x e m p l a r y g r o w t h t r a j e c t o r y, contributing 45.73 per cent to exports in 2023-24, which increased to 4 5 7 9 p e r c e n t b y M a y 2 0 2 4 , highlighting their growing impact on India’s trade performance. Notably, the gross value added
(GVA) by MSMEs in India’s GDP was 29.7 per cent in 2017-18 which rose to 30.1 per cent in 2022-23.
Even amid the unprecedented challenges posed by the COVID-19 pandemic, the sector sustained a contribution of 27.3 per cent in 2020-21, rebounding to 29.6 per cent in 2021-22.
These figures highlight the sector's pivotal role in driving economic growth and stability, reflecting its enduring strength and importance to the Indian economy, said the Ministry of Micro, Small and Medium Enterprises. Between July 1, 2020, and July 24, 2024, a significant number of enterprises transitioned to medium enterprises.
During the financial year 2020-21 to 2021-22, 714 micro enterprises scaled
up to medium and 3,701 small enterprises were upgraded to medium enterprises,informedtheministry
This number increased steadily with the financial year 2023-24 to 2024-25 witnessing further growth, with 2,372 micro enterprises and 17,745 smallenterprisesscaleuptomedium
“As India strives to position itself as a global economic powerhouse, the MSME sector undoubtedly plays a central role, fostering innovation, g e n e r a t i n g e m p l o y m e n t , a n d enhancing export competitiveness,” the ministry noted.
MSME’s are the backbone of India's economic landscape, pivotal in e m p l o y m e n t g e n e r a t i o n , entrepreneurship promotion, and economic development.
SHIPPING MOVEMENTS AT GUJARAT PORTS DEENDAYAL PORT
Stream African Quail Mihir & Co.
Stream Atlantis DBC
CJ-IV Bomustafa O DBC
Stream CS Sarafina ACT Infra
Stream Ding Heng 45 Samudra
Stream DM Bea Samudra
Stream Dragon Malara Shpg.
Stream East Wind I Anline Shpg.
CJ-XV Gift Benline
Stream Glamor Anline Shpg.
Stream Haj Mohamad DBC
Stream HPC Future Jeel Kandla
CJ-XVA Maple Harbour Cross Trade
CJ-II Mars J DBC
Stream Mercury J DBC
Stream Mohsen Ilyas Seacoast Sudan
CJ-XIII Nalinee Naree Trueblue
CJ-I Propel Glory Cross Trade 30/12
CJ-II Mars J DBC 28/12
CJ-III Haj Ali DBC 29/12
CJ-IV Bomustafa O DBC 31/12
CJ-V Spinnaker SW DBC 27/12
CJ-VI Chitral Synergy Seaport 28/12
CJ-VII Ise DBC 29/12
CJ-VIII Navios Venus Benline 30/12
CJ-IX Imke Selmer Benline 27/12
CJ-X Vishva Malhar Aditya Marine 28/12
CJ-XI Vacant
CJ-XII AS Alexandria J M Baxi 27/12
CJ-XIII Nalinee Naree Trueblue Shipping 28/12
CJ-XIV Sofia Shantilal Shpg. 29/12
CJ-XV Gift Benline 30/12
CJ-XVA Maple Harbour Cross Trade 29/12
CJ-XVI Zhong Xin Fa Zhan Chowgule Bros 28/12
TUNA VESSEL'S
Stream NJ Sun B S
Stream Pegasus 02 DBC
Stream Pioneer Elite Ocean
Stream Royal O DBC
Stream Sofia II DBC
Stream Soul Mercy Anline Shpg.
Stream Spring Oasis Seavision Shpg.
05/01 True Harmony DBC Brazil
CJ-XVI Zhong Xin Fa Zhan Chowgule
VESSELS IN PORT & DUE FOR IMPORT DISCHARGE
GENERAL CARGO VESSELS
OJ-III M Regina Scorpio Shpg. 27/12
OJ-IV Tethis 7 V Ocean 27/12
OJ-V Saehan Nuria
OJ-VI Dawn Mansarovar Malara Shpg. 27/12
OJ-VII Gemini Pearl
Haj Abdullah T 23/12 Yemen
Baoshun Glory 23/12 China
AC Renhe 23/12
Eraclea 23/12
Gautam Rehansh 23/12
Gautam Kavya 23/12
Humbergratch 23/12 Germany
Kiran Carribean 23/12 China
Tulsi Sagar 23/12
SCI Chennai 23/12 Pipavav-CochinTuticorin-Kattupalli
Safeen Power 23/12 Nhava Sheva-Jebel Ali-DammamShuiba-Umm Qasr Vishva Ekta 24/12
ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)
PIPAVAV PORT
27/12 26/12-1800 Maersk Pittsburgh 451W 24407 Maersk Line Maersk India Algeciras
03/01 02/01-1800 Maersk Chicago 452W 25008
10/01 09/01-1800 Maersk Pittsburgh 501W 25009
LOAD FOR
EAST, CHINA, JAPAN, AUSTRALIA, NEW ZEALAND AND PACIFIC ISLANDS
In Port —/— X-Press Odyssey 452E 24408 Maersk Line Maersk India Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 26/12 01/01 31/12-1900 X-Press Carina 501E 25007 X-Press Feeders Merchant Shpg. Ningbo. (NWX) 02/01 09/01 08/01-1900 X-Press Cassiopeia 24054E Sinokor/Heung A Sinokor India Port kelang, Singapore, Qindao, Xingang, Pusan. 10/01 27/12 26/12-1900 Dimitris Y 250E 25003 X-Press Feeders Merchant Shpg. Port Kelang, Singapore, Laem Chabang. 27/12 07/01 07/01-1000 X-Press Anglesey 24035E ONE ONE (India) (TIP) 08/01 30/12 30/12-0600 OOCL Hamburg 154E 24410 COSCO / OOCL COSCO Shpg./OOCL(I) Port Kelang, Singapore, Hong Kong, Shanghai, Xiamen, Shekou. 31/12 08/01 08/01-1200 OOCL Luxembourg 114E 25006 Gold Star / RCL Star Shpg/RCL Ag. Nansha New Port (CIXA)
15/01 12/01-0600 Stratford 134E 25013
30/12 29/12-2359 BLPL Trust 1412E BLPL Transworld GLS Far East 31/12 02/01 02/01-1000 Seaspan Adonis 077E 25004 ONE ONE (India) Port Kelang, Singapore, Haiphong, Cai Mep, Pusan, Shahghai, 02/01 11/01 11/01-1000 One Altair 067E HMM / YML HMM(I) / YML(I) Ningbo, Shekou (PS3)
13/01 13/01-1600 Xin Shanghai 151E 25012 COSCO COSCO Shpg. Singapor Cai Mep, Hongkong, Shanghai, Ningbo, Shekou, 13/01 Nansha, Port Kelang (CI1) TO
LOAD FOR WEST ASIA GULF, RED SEA
&
EAST AFRICAN PORTS
27/12 26/12-1800 Maersk Pittsburgh 451W 24407 Maersk Line Maersk India Salallah, Port Said, Djibouti, Jebel Ali, Port Qasim. (MECL) 28/12 31/12 31/12-0300 Seaspan Jakarta 0452 25005 Maersk/GFS Maersk India/GFS Jabel Ali, Dammam (SHAEX)
07/01 06/01-0300 SM Neyyar 0453
TO LOAD FOR
In Port —/— X-Press Odyssey 452E 24408 Maersk Line Maersk India Colombo. (NWX)
27/12 26/12-1900 Dimitris Y 250E 25003 X-Press Feeders Merchant Shpg. Muhammad Bin Qasim,
Dimitris
SHIPPING MOVEMENTS AT ADANI HAZIRA PORT
VOC Port handles 29.70 million tonne cargo, sets eyes on becoming gateway of South India
THOOTHUKUDI:
Iconic Thoothukudi VO Chidambaranar
Port has registered a n e w l a n d m a r k handling a cargo volume of 29 70 million tonnes, including 5.62 lakh TEUs of containers, till December 19 during this financial year 2024-25.
The hub of economic activity in south Tamil Nadu, the port’s handling of cargo has seen a marked increase of 1.87% in cargo volume and 6.74% in TEUs. With the ever-increasing trend in cargo handling, the port has initiated several strategic capacity augmentation and cargo evacuation initiatives to increase throughput, enhance handling efficiency and expand its market share in the region.
S u s a n t a K u m a r P u r o h i t , Chairperson, VOC Port Authority, stated that ‘with the advantages of being the all-weather port and strategic location close to east-west
Kamarajar
International sea route, it has an immense potential to become g a t e w a y p o r t o f s o u t h I n d i a . The lowest turnaround time of container ships, well-established logistics support systems, seamless road and rail connectivity, upcoming industries and capacity augmentation initiatives, are an added advantage, he said.
The port’s 3rd Container Terminal ‘Tuticorin International Container Terminal’, became operational with a draft of 14.20 metres and LOA of 370 metres to give a fillip to the container trade. The terminal has commenced its operations with a capacity to handle six lakh TUEs per annum.
To augment the capacity of the bulk cargo handling at the port, the north cargo berth-III (NCB-3) with a Length Overall (LOA) of 306 metres will be dredged by the port in February 2025 to handle vessels up to
14.20 metres draft.
The dredging will also be done parallel to the entrance channel, approach channel and turning circle area of the port The interim operations of the terminal on c o m p l e t i o n o f d r e d g i n g w i l l commence using two harbour mobile cranes with a capacity of 100 – 120 tonnes by the end of January 2025.
The NCB-3 will be mechanised by December 2026 with shore unloaders capable of discharging seven million tonnes per annum.
In order to accommodate ships with a beam of 49 metres and LOA of 366, widening of the port’s entrance channel from 152 40 metres to 230 metres has also been taken up.
The port has also initiated a proposal for the construction of berth ten at an approximate cost of Rs 80 crore. The berth already has a draft of 10.70 metres and will be dredged to 14.50 metres in the near future.
Port set to become a Mega Port with major upgrades
CHENNAI: Kamarajar Port (KPL), about 24 km north of Chennai, has completed 25 years since it was incorporated as Ennore Port in Oct 1999. It has developed a cargo h a n d l i n g c a p a c i t y o f a r o u n d 57.5 million tonnes per annum (MTPA) over the past 25 years and is targeting increase in capacity to 254.5 MTPA in the next 25 years (by 2047).
Mr Sunil Paliwal, Chairman, KPL, recently highlighted about the plans to transform the 12th major port in India into a mega port. KPL has taken u p s e v e r a l p r o j e c t s t o b o o s t infrastructure, enhance capacity and i m p r o v e l o g i s t i c s a n d t r a d e connectivity. These include southern port access road, doubling of the southern rail connectivity and c o n s t r u c t i o n o f a u t o m o b i l e export/import terminal-II. Several more facilities are in the pipeline For instance, Indian Oil Corporation’s
captive jetty with a capacity of three MTPA at an investment of 9.21 billion would be ready by end of this month. Another rail link to the port from the northern side of Minjur railway station will be established. Primarily, KPL is an energy port, wherein 65%70% of the cargo comprises petroleum oil and lubricants, LPG, LNG and coal. Container cargo has a share of 25%. The rest is contributed by gypsum, barytes and limestone under the bulk cargo category, besides automobiles. In the past 6-8 months, we are targeting ‘Project Cargo’ Components are being brought to our port and assembled in a dedicated space earmarked for the purpose. It is mainly for over-sized cargo such as big mining trucks that cannot be directly brought to the port by road. In 2023-2024, the port handled 6,71,000 TEUs (twenty-foot equivalent units) of container cargo compared to
5,50,151 TEUs the previous year, he said. With increasing demand for containerised cargo in India and the need for efficient port infrastructure, KPL is poised to experience growth in container cargo volumes. The port has nine operational terminals with 57.5 MTPA capacity, of which 34 MTPA is energy cargo and 15 4 MTPA is container cargo To align with the goals of Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, KPL aims to reach a cargo handling capacity of 254.5 MTPA by 2047 with 27 berths. Of this, energy cargo handling capacity will be 89 MTPA, container cargo capacity will be 123.5 MTPA and other cargo including bulk and roll-on/roll-off (RO-RO) will be 42 MTPA These developments will transform KPL into a ‘mega port’, and the leading eastern gateway port of India, Mr. Paliwal emphasised.
Cold weather cuts Indian banana exports by 30%, causing $24 million in losses
MUMBAI: India, a leading force in the global banana market, is currently grappling with a critical challenge as extreme cold weather impacts its major b a n a n a - p r o d u c i n g s t a t e s Temperatures in Maharashtra, Uttar P radesh, Andhra P radesh, and Kar nataka have dropped below 12 degrees Celsius, causing severe chilling injuries to bananas This is expected to reduce exports by 30%, resulting in an estimated financial loss of approximately $24 million, according to the Agricultural and Processed Food P r o d u c t s E x p o r t D e v e l o p m e n t Authority (APEDA).
Kaustubh Bhamare of Pinnacle
Agrotech reported a drastic drop in banana purchasing rates by traders, from $0.29-$0.34 per kg to $0.10-$0.17 per kg, due to the appearance of red spots on the fruit’s skin. This significant price drop has caused considerable distress among farmers and adversely affected the quality of exports.
The situation is particularly challenging for exporters who had secured new orders from Russia and Iran, demonstrating sustained demand for Indian bananas despite geopolitical tensions However, this shortfall presents an opportunity for competitors like Ecuador and the Philippines to capture market share.
I n r e s p o n s e , f a r m e r s i n Maharashtra’s Jalna and Sholapur districts are adjusting their planting schedules to mitigate future cold d a m a g e H o w e v e r, t h e l i m i t e d availability of tissue-cultured banana plants poses a challenge to recovery e f f o r t s . A j a y K u m a r o f K e d i a Commodities suggests that early planting and harvesting could help avoid the adverse effects of cold weather on the banana industry This crisis in the Indian banana export sector underscores the need for innovative strategies and resilient approaches to maintain its leading position in the global market.
“MSC ODESSA V”
The above vessel is arriving at MDPT (MUNDRA) with Import cargo from NINGBO, QINGDAO,
Please note the item Nos. against the B/L Nos. for MDPT (MUNDRA) delivery.
IFC and NDR InvIT launch India’s first sustainability-linked bond for Warehousing sector
NEW DELHI: In a groundbreaking move for India’s warehousing and logistics sector, International Finance Corporation (IFC) has invested $75 million (INR 6,300 million) in a Sustainability-Linked Bond (SLB)
i s s u e d b y N D R I n v I T , a n Infrastructure Investment Trust sponsored by NDR Warehousing Private Limited This SLB, the first of its kind by a warehousing InvIT in India, and the inaugural SLB issuance b y a n y I n v I T i n t h e c o u n t r y, underscores a significant milestone in sustainableinvestment
The funds raised through the SLB will enable:
•Expansion of NDR InvIT’s warehousing operations.
•A c h i e v e m e n t o f E D G E (Excellence in Design for Greater Efficiencies) Certification, an internationally recognized green building standard by IFC.
•Reduction in greenhouse gas emissions and water consumption at warehouse facilities.
•Enhanced infrastructure quality to meet the demands of a growing
supply chain ecosystem.
Catalyzing Growth in India’s Warehousing Sector
India’s warehousing and logistics sector is witnessing rapid growth, f u e l e d b y t
e-commerce and manufacturing The country’s warehouse space is projected to grow from 300 million square feet in FY23 to 500 million square feet by 2030, presenting a unique opportunity to modernize the sector and incorporate sustainable practices.
This investment aims to address c h a l l
infrastructure and rising costs while fostering resource-efficient growth. Additionally, it seeks to inspire other warehouse developers to adopt s u s t a i n a b
m e a s u r e s , strengthening India’s commitment to achieving its climate targets.
Leaders’ Perspectives
Amrutesh Reddy, Director of NDR InvIT Managers, highlighted the significance of this milestone:
“We are proud to issue India’s first sustainability-linked bond by an
InvIT, setting a new benchmark for sustainable investments This partnership with IFC reflects our d
sustainability while supporting the
By integrating EDGE Certification and resource-efficient operations, we are aligning with India’s climate goals and driving economic growth.”
IFC’s Regional Director for S o u t h A s i a , I m a d
h o u r y, emphasized the transformative potential of this collaboration: “India’s warehousing sector is pivotal for economic growth, supporting e-commerce, manufacturing, and seamless goods movement across industries. This SLB issuance is not only a step toward strengthening m
attracting global capital but also a commitment to shaping a sustainable future for India’s infrastructure By championing green solutions, we aim to build a robust and resilient logistics sector that aligns with India’s climate ambitions
Performance of Global Shipping Segments to Diverge in 2025 : Fitch Ratings
N E W Y O R K : Performance in tankers and dry bulk is likely to remain sound in 2025, with tankers making above-average profits, supported by high tonnem i l e d e m a n d , w h i l e oversupply and easing of disruptions in the Red Sea will put pressure on global container shipping, Fitch Ratings says
We expect demand to grow in oil tankers and dry bulk in 2025, although more slowly than in 2024.
The International Energy
Agency forecasts oil demand to increase by 1 million barrels per day in 2025, which will be mostly met by supply growth from outside OPEC+ Increased tonnemiles related to oil exports from Russia will support overall demand. Easing of geopolitical tensions and the Red Sea disruptions could affect demand growth.
We expect dry bulk volumes to grow by about 1% in 2025 compared to 2.7% in 2024. This is driven by reduced global iron ore and coal demand and
trade tensions. Grain exports will continue to provide some upside We expect broadly flat shipping rates in these segments in 2025, after some improvements in 2024.
We expect container transport volumes to increase by about 3% in 2025; this will be outstripped by supply growth of 5%. The orderbook, at 26% of the existing fleet, has remained high despite new deliveries. This reflects continuing new order intakes to replace ageing vessels and upgrade
capability to address
o n targets Average sailing speeds increased in 2024, driven by the Red Sea disruptions. There is therefore some leeway for speeds to come down in 2025 and absorb capacity, as we highlighted in our Global Shipping Outlook 2025.
We expect container shipping rates to continue declining in 2025. Rates increased in early 2024 d u e t o t h e R e d S e a disruptions that resulted in sailing around the Cape of Good Hope. However, rates have been declining since August, and we expect this to conti
pacity absorption is progressively offset by new deliveries. While this is likely to reduce the industry’s profitability, the contracted portion of revenues (most contracts are for less than one year) will partially offset the impact of spot
performance Faster-than-expected easing of disruptions could lead to quicker spot rate declines.
Indian Register of Shipping reects on 2024 and sets Ambitious Goals for 2025
MUMBAI: Indian Register of Shipping (IRS) concludes 2024 with remarkable achievements across sustainability, innovation, and maritime safety, making its Golden Jubilee year a testament to its legacy and vision. From spearheading decarbonisation projects to reviving India’s maritime heritage, IRS has reinforced its leadership role in the global maritime sector.
In line with global sustainability goals, IRS achieved significant milestones in decarbonisation and technology. It classed a nextgeneration electric ferry, furthering the push for cleaner maritime transport. A landmark collaboration with Mazagon Dock Shipbuilders saw the successful demonstration of an Autonomous Navigation System with d u a l n a v i g a t i o n c a p a b i l i t i e s , signalling a step forward in maritime i n n o v a t i o n . A d d i t i o n a l l y, I R S partnered with IIT Bombay to develop a ship trajectory prediction tool aimed at improving navigational safety In another significant move, IRS joined forces with Cochin Shipyard Limited on the ambitious “Swayat” project, towards the development of India’s f i r s t i n d i g e n o u s l y d e s i g n e d autonomous vessel. T
transformative for IRS, marking a significant rise in classification and allied technical services for Indian Defence and Paramilitary forces. Key milestones include the launch of four shallow-water Anti-Submarine Wa r f a r
C
v e t t e s , a S e m iSubmersible Pontoon, two Pollution Control Vessels, and the delivery of a Survey Vessel (Large).
IRS has expanded its scope to c o m p l e x p r o j e c t s , i n c l u d i n g six New Generation Missile Vessels at Cochin Shipyard, five Fleet Support Ships at Hindustan Shipyard, and 11 New Generation Offshore Patrol Vessels at GRSE and GSL. Additionally, six Next Generation Offshore Patrol Vessels, a Cadet Training Ship, and 14 Fast Patrol Vessels will be built at Mazagon Dock, Mumbai. Notably, IRS provided third-party inspection services for a submarine undergoing r e f i t a t H S L , a f i r s t f o r a n y classification society in India.
A new leadership in 2024, with Mr. P.K. Mishra assuming the role of Managing Director and Mr T K Sahu stepping in as Joint Managing Director signals the organisation’s renewed drive to the next phase of growth and innovation.
As it entered its Golden Jubilee year, IRS organised a series of commemorative events, highlighting its five-decade-long contributions to the maritime industr y. These initiatives celebrate its legacy while setting the stage for a promising future.
Looking ahead to 2025, IRS is committed to building on the
sustainability and innovation. With a sharp focus on green technologies, alternative fuels, and autonomous systems, the organisation is poised to lead the way in creating a more efficient and sustainable maritime ecosystem. Additionally, IRS is f
strengthening global outreach to cater to a broader clientele and foster international collaboration.
“With a strong legacy of five decades and a forward-thinking approach, IRS is ready to navigate the challenges and opportunities of 2025. Our goal is to continue advancing maritime excellence while fostering sustainability, and innovation,” said Mr. Arun Sharma, Executive Chairman of IRS.
m.v.
“MANZANILLO BRIDGE” V-IW450A
I. G. M. NO. 2395462 Dtd. 23-12-24
The above vessel has arrived on 24-12-2024 at MDPT (MUNDRA) with Import cargo from BUSAN, CAUCEDO, DALIAN, LAEM CHABANG, MANILA NORTH HARBOUR, NAGOYA JAPAN, NANSHA, NINGBO, PORT KLANG (PELABUHAN KLANG), QINGDAO, QINZHOU, SEMARANG, SHANGHAI, SHEKOU, TIANJINXINGANG, XIAMEN.
Please note the item Nos. against the B/L Nos. for MDPT (MUNDRA) delivery.
Shanghai Port : 1st in World to cross annual throughput of 50 million TEUs
SHANGHAI: Shanghai Port became the first in the World to see the annual container throughput exceed 50 million 20-foot equivalent units (TEUs).
The port has ranked first globally for 14 consecutive years in terms of annual container throughput.
A c c o r d i n g t o Ya n g Ya n b i n , Deputy General Manager of the production and business department of the Shanghai International Port (Group) Co., Ltd (SIPG).
Yang noted that the growth in container throughput at Shanghai Port was driven not only by the rise in
export-heavy containers but also by an increase in international transfer containers and ship-to-ship transfer volumes.
“The port’s robust functionality and high-quality services attract large cargo ships from around the world,” he said, adding that the proportion of shipto-ship transfers at the port is expected to reach a record 60 percent in 2024, which highlights the continued enhancement of Shanghai Port’s role as a global hub.
At present, the Shanghai Port boasts nearly 350 international ship routes
reaching more than 700 ports in over 200 countries and regions around the world.
The development of Shanghai Port reflects the broader transformation of Shanghai as a whole
The Eastern Chinese metropolis has once again secured third place in the 2024 Xinhua-Baltic International Shipping Center Development Index Report.
According to Shanghai Customs, the daily import and export value of goods handled by Shanghai Port averages 29.8 billion yuan (about 4 billion U.S. dollars), about 1.24 billion yuan per hour
India-Indonesia Bilateral Trade hits USD 29.4 Billion in 2024: Report
NEW DELHI : The bilateral trade between India and Indonesia reached U S D 2 9 4 b i l l i o n i n F Y 2 0 2 3 - 2 4 , with Indonesia ranking as India’s eighth largest trading partner India is Indonesia’s second-largest buyer of coal and crude palm oil, highlighting the s t r a t e g i c i m p o r t a n c e o f t h i s partnership, according to a report by Rubix Data Sciences.
India’s exports to Indonesia totalled
USD 5 99 billion in FY2024, with mineral fuels and vehicles among the top traded goods Notably, Indonesia’s investments in India, cumulatively valued at USD 653 83 million, span sectors such as automotive, pharmaceuticals, and banking
A c c o r d i n g t o t h e r e p o r t , “Collaborative initiatives, including energy and technology agreements, further deepen ties, paving the way for mutual growth. The report identified
Indonesia as a land of unparalleled opportunity From its burgeoning EV sector to policy reforms fostering foreign investment, businesses can capitalise on Indonesia’s strategic initiatives to expand their global footprint. “Indonesia’s economic evolution is a story of resilience, agility, and strategic policy”, said Mohan Ramaswamy, Co-founder and CEO of Rubix Data Sciences.
JNPA signs an MoU with Terminal Investment Limited Sàrl for the Vadhvan Port Project Ltd.
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. . . e s t a b l i s h i n g a n
important collaboration with Terminal Investment Limited Sàrl (TIL) on Monday, December 23, 2024 This partnership demonstrates JNPA's dedication to improving port infrastructure in India and turning Vadhvan Port into a world-class port of the future. It was exchanged by Shri Unmesh Sharad Wagh, IRS, Chairman, JNPA and CMD, VPPL, and Capt. Deepak Tewari, in the presence of Dhananjay Javdekar and Karan Tewari.
According to the Memorandum of Understanding TIL has proposed to invest an estimated Rs. 20,000 crore for the development of the Vadhvan Port and the surrounding ecosystem With, Terminal Investment Limited Sàrl is demonstrating its strong commitment to India's marine development. TIL, based out of Switzerland, has a diverse portfolio of container terminals, strategically located at key ports on the world's major shipping routes, providing access to key mature and developing markets.
Speaking on the occasion, Shri Unmesh Sharad Wagh, IRS, Chairman, JNPA and CMD, VPPL, said, “The MoU with Terminal Investment Limited Sàrl marks a significant step in our vision for the Vadhvan Port, which is poised to redefine port infrastructure in India. This partnership not only reflects the confidence of global investors in India’s maritime sector but also ensures the integration of cutting-edge technology, sustainable practices, and world-class infrastructure. Together, we aim to create a port ecosystem that sets
new benchmarks in efficiency and innovation.”
VPPL also recently launched the Vadhvan Port Skilling Program, which is designed for the youth of the Vadhvan region. MoUs have been signed between DG Shipping and JNPA to provide skill development training through selected Maritime Training Institutes (MTIs).
Historic rail connectivity established at CONCOR’s GCT-Varnama
NEW DELHI: In a landmark development for India’s logistics and freight sector, Container Corporation of India Limited (CONCOR) has established rail connectivity for the Gati Shakti Multi-Modal Cargo Terminal (GCT) at Varnama with the Western Dedicated Freight Corridor (WDFC) at New Makarpura Yard. This milestone was marked by the arrival of the first double-stack container train from CONCOR’s Multi-Modal Logistics Parks at Khatuwas and Dadri, setting the stage foranewerainefficientandsustainablecargomovement First Double-Stack Train Marks Commencement of Operations
The inaugural double-stack train, which arrived at GCT-Varnama on December 21, 2024, carried JNPTbound containerised export cargo. These containers will continue their journey to Jawaharlal Nehru Port (JNPT) in single-stack formation. In return, single-stack trains carrying import containers from JNPT destined for Northern India’s Inland Container Depots (ICDs) will be converted to double-stack at GCT-Varnama and moved efficiently on the WDFC to destinations like Khatuwas, Dadri, Moradabad, and Tughlakabad.
Strategic Benets of the DFCC
The integration of GCT-Varnama with the WDFC offers transformative benefits for India’s logistics ecosystem:
•Enhanced Efciency: Dedicated freight corridors allow seamless and faster movement of goods, reducing transit times significantly
•Increased Capacity: Double-stacking increases container handling capacity, optimizing the use of rolling stock and infrastructure.
•Environmental Sustainability: Electrified freight corridors contribute to reduced carbon emissions
compared to road-based logistics.
Impact on Vadodara’s Trade and Industry
The establishment of this rail link is set to be a gamechanger for importers and exporters in the Vadodara region With improved connectivity to major ports like MundraandJNPT, the Trade at large will benefit from:
•Faster Turnaround Times: Reduced transit durations for export and import cargo, enhancing supply chain efficiency
•Seamless Port Connectivity: Direct access to major ports enables timely delivery of goods, crucial for time-sensitive exports.
•Economic Growth: Strengthened logistics infrastructure supports the growth of industries in and around Vadodara, fostering regional economic development.
Pioneering Modern Logistics
O n t h i s o c c a s i o n , S h r i S a n j a y S w a r u p CMD/CONCOR stated that this achievement underscores India’s commitment to modernizing its logistics and transportation infrastructure under the Gati Shakti initiative. By leveraging the capabilities of the DFCC and strategic multi-modal terminals like GCTVarnama, the country is poised to strengthen its position as a global trade hub
