by
Dr. Pramod Sant
Dr.
SantA distinguished Industry Expert Refer Pg. 7
MUMBAI : (022)22661756 / 1422, 22691407
Vol.XXXINo.26
28 MARCH 2024
AHMEDABAD : (079) 26569995, E-Mail:dstgujarat@gmail.com
: (02836)222665/225790, E-Mail:dstimeskdl@gmail.com
• APSEZ has entered into a defini ve agreement to acquire Gopalpur PortLimited(GPL)atanenterprisevalueofINR3,080crore
• Gopalpurisaroad-railconnectedportwithcapacityof20MMTPA andsignificantpoten alforexpansion
• Strategically situated on the east coast, it has significant poten al frommineralrichhinterland
• Acquisi on will drive synergy with our exis ng ports and strengthenAPSEZ'spresenceontheEastCoast
AHMEDABAD: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has entered into a definitive agreement to purchase the 56% stake of the SP Group and 39% of Orissa Stevedores Limited (OSL) in Gopalpur Port Limited (GPL).
Cont’d Pg. 6
R I Y A D H : A s i g n i f i c a n t milestone for Bahri Line was achieved as it proudly welcomed the newest addition to its fleet : Bahri Diriyah This momentous achievement exemplifies unwavering commitment to growth, fostering economic connections, and meeting diverse market demands and shifts, says a recent communique from Bahri Line.
Bahri Line has long been recognized as a key player in the Project Cargo and RORO marine logistics industry, and its journey continues to expand further By venturing into the niche multipurpose segment, company reaffirms its dedication in providing versatile and tailored shipping solutions to the market.
“This noteworthy development marks a new chapter in our commitment to excellence, service, and customer satisfaction. We extend our heartfelt gratitude to all our current and future clients who have been instrumental in our success thus far,” concludes the communique.
• APSEZ has entered into a definitive agreement to acquire Gopalpur Port Limited (GPL) at an enterprise value of INR 3,080 crore
• Gopalpur is a road-rail connected port with capacity of 20 MMTPAand significant potential for expansion
• Strategically situated on the east coast, it has significant potential from mineral rich hinterland
• Acquisition will drive synergy with our existing ports and strengthenAPSEZ's presence on the East Coast
Cont’d from Pg. 4
The acquisition is made at an enterprise value of INR 3,080 crore#, and the transaction is subject to statutory approvals and fulfilment of other conditions precedents.
Gopalpur port is located on the east coast of India and has the capacity to handle 20 MMTPA The Government of Odisha awarded a 30-year concession to GPL in 2006, with the provision of two extensions of 10 years each.
As a deep draft, multi-cargo port, Gopalpur handles a diverse mix of dry bulk cargo, including iron ore, coal, limestone, ilmenite, and alumina The port plays an important role in supporting the growth of mineral-based industries in its hinterland, like iron & steel, alumina and others. The concessionaire has full flexibility to design and expand the port as per the market demand. GPL has received more than 500 acres of land on lease for development, with an option to receive additional land on lease to meet future capacity expansions.
The port is well connected with its hinterland through the national Highway NH16 and a dedicated railway line
connects the port with the Chennai-Howrah main line # In addition to the enterprise value stated above there is a contingent consideration of INR 270 crores estimated to be payable after 5 5 years, subject to fulfilment of certain conditions as agreed with the sellers
Mr. Karan Adani, Managing Director of APSEZ, said, “The acquisition of Gopalpur Port will allow us to deliver more integrated and enhanced solutions to our customers. Its location will allow us unprecedented access to the mining hubs of Odisha and neighboring states and allow us to expand our hinterland logistics footprint. GPL will add to the Adani Group’s pan-India port network, significantly enhance overall cargo volume, and strengthen APSEZ’s integrated logistics approach.”
In FY’24, GPL is estimated to handle about 11.3 MMT cargo (YoY growth - 52%) and earn a revenue of INR 520 cr (YoY growth - 39%) and achieve EBITDA of INR 232 cr (YoY growth - 65%). In our view, the Gopalpur Port is all set for strong growth and margin expansion in FY’25 with opportunities already identified for achieving higher operational efficiencies and infra debottlenecking, implying further value accretion for APSEZ shareholders.
are increasingly taking action to eliminate greenhouse gas (GHG) emissions from their logistics. The latest numbers of Maersk’s ECO Delivery Ocean product are a strong proof for this trend. After 480,000 standard containers (TEU) in 2022, Maersk transported more than 660,000 TEU on green fuels* last year 212 customers opted for ECO Delivery Ocean for their seaborne cargo in 2023 and saved over 683,000 tonnes of greenhouse gases from being emitted into the atmosphere.
“We’re continually exploring sustainability opportunities across our supply chain and our overall business, as we work towards becoming a climate-neutral company by 2040, By switching to renewable fuel, we have achieved an immediate reduction in fossil CO₂ emissions from intercontinental ocean freight by at least 84% compared to fossil fuel. This initiative shows that we can act now and implement solutions that achieve significant results We all have a responsibility to act,” said Javier Varela, Chief Operating Ofcer
The Deputy CEO at Volvo Cars last July when announcing their partnership with Maersk to use ECO Delivery Ocean on large scale said, “Especially for the seaborne cargo, Maersk ECO Delivery Ocean is a well-established and independently certified product to reduce the GHG emissions ofanoceantransportbymorethan80% ”
“In the beginning, we have had many customers giving ECO Delivery Ocean a first try for some of their cargo volumes. After they realized how well it is working, more and more customers either increased the cargo volume or committed themselves even to ship 100% of their seaborne cargo under Maersk care with ECO Delivery Ocean. These 100% contracts put really big smiles on the faces of me and my team members as we knew: this is the breakthrough of something that makes a real change for our climate,”said, Maja Nyvold Head of Surcharges, Value Adding Services and Energy in the Ocean business segment at Maersk.
Maja’s team developed the product together with other Maersk experts back in 2017/18 and introduced it as from 2019. “The increasing number of these 100% commitments is an amazing trend and commitment of our customers since green fuels are significantly more expensive than fossil fuels.” Trendsetters for the 100% commitment have been global brands such as Nestlé, Inditex, Novo Nordisk (100% of their Maersk outbound logistics on ECO Delivery)
or Volvo Cars (100% of their inbound logistics on ECO Delivery) as well as regional brands like the successful Danish and Norwegian retail companies Flying Tiger Copenhagen and Europris.
The success story continues with several new customers who have signed up for ECO Delivery Ocean in the new year Among them are large retail chains like Action from the Netherlands (with 100% of their ocean volume), ICA from Sweden (with 100% of their long-haul shipments) or the chemical company Borregard from Norway with 100% of their ocean volume. Borregard is also taking the next step to piloting an e-truck solution for low emission* landside transports together with Maersk.
In a nutshell, Maersk ECO Delivery Ocean product replaces fossil fuels with green fuels such as bio diesel and green methanol. The bio diesel is solely sourced from waste streams and lead to GHG emission reductions of above 80% on a well-to-wake basis. With the deployment and naming of the world’s first methanol enabled container vessel in September 2023, Maersk introduced also green methanol as a low emission fuel in container shipping. Up to now, the green methanol’s GHG reduction lies still below the figures of bio-fuels, but with the start of the scalable production of e-methanol, the emission reductions should go up to above 90% once the processes are all optimized. These significant GHG reductions of both fuel types take even emissions into account from procuring, producing, and transporting the ingredients and the green fuels – a so-called life cycle calculation.
Almost 60% of Maersk’s top 200 customers have committed to, or set science-based targets for their journey to net-zero. Maersk’s Emission Dashboard is a solution for shippers to get a comprehensive overview of the emissions across all carriers and transport modes. The consolidated data facilitates best and most impactful measures to reduce GHG emissions in a next step. Finally, the overall reporting requirements in this field are another important aspect for customers, knows Kaisa: “Nowadays, a logistics partner needs to be able to provide cargo owners with reliable and robust emission data.”
Some of Maersk’s ECO Delivery Ocean customers are shipping volumes of +50,000 containers and more per year on green fuels already. The good news: Maersk has enough green fuel available to serve all customers' increasing ambitions to decarbonise their ocean transports.
The above vessel is arriving at MUNDRA PORT on 03-04-2024 with Import Cargo in containers.
ZIMUNYC9069903 —1
ZIMUNYC9070068 —2
ZIMUORF1107542 —2
ZIMUORF968617 1— ZIMUORF969211 1— ZIMUTRT927279 —1
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 :
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. Vijay Anand - 9824504315 Email : anand.vijay@zim.com
Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com
m.v. “MSC WASHINGTON” Voy : FY407R
I.G.M. NO. 2372396 Dtd. 26-03-24 Exch rate 85.5
The above vessel has arrived on 27-03-2024 at MUNDRA PORT with Import cargo from COTONOU, SAN-PEDRO, LIBREVILLE, TAKORADI, TINCAN/LAGOS, FREETOWN, LOME.
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
CHENNAI: It’s been over 100 days since the start of the Red Sea crisis as commercial ships avoided the critical Suez Canal and were diverted via the Cape of Good Hope in southern Africa to avoid attacks by the Houthi rebels of Yemen The trade continues to bear the brunt of the diversion with delay in shipment reaching the destination in Europe and the US on time and sea freight increasing steadily. For instance, freight by sea to Europe and the US from India has increased over $1,000 per box in the last couple of months to Europe and the US and by air the freight has more than doubled.
Some of the urgent shipments are being sent by air but at a premium as space is a constraint with the slow diversion of cargo from sea to air
Nearly 90 per cent of the global trade is moved via sea The Red Sea connecting Asia and Europe via the
Suez Canal handles nearly 12 per cent of the global trade with large ships carrying everything, right from electronics goods to machinery, oil and gas to automobiles.
In the last three months, the Houthi rebels have been targetting ships in the Bab el-Mandeb strait between Dijibouti and Yemen in the southern end of the narrow strait – 20 miles wide – of the Red Sea.
Due to the disruption in the Red Sea, the pressure is slowly building up on the global supply chain as inventory in the consumingmarketsaregettingoverfast.
In a month or two, the pressure will build up on the suppliers in India for delivering the products An effective supply chain action management plan will be required going forward, said an official incharge of logistics at a large leather company in Chennai.
At present, the delay to send the
cargo to Europe or the US is around 20 days due to the diversion via the Cape of Good Hope However, if the delay continues for over a month, there will be increased pressure from the clients to deliver the goods on time
Many clients work on Fee on Board basis wherein they take care of the entire logistics and also the freight. While this could be a short term relief for the supplier, the client, who need to bear the additional cost, in future will ask suppliers to reduce their price, the official said.
Suppliers delivering goods on Cost, Insurance and Freight basis are under tremendous pressure to immediately absorb the increase in freight and also responsible to send the cargo on time, said an official of a leading Custom House Agency While they would like to increase the cost of the goods, the clients are not willing to pay, he said.
m.v. “MSC BENEDETTA XIII” Voy : XA406R
I.G.M. NO. 2372193 Dtd. 22-03-24 Exch rate 85.34
The above vessel has arrived on 24-03-2024 at MUNDRA PORT with Import cargo from VARNA, HALIFAX, MONTREAL, BARCELONA, VALENCIA, POTI, THESSALONIKI, RIJEKA, TRIESTE, AL 'AQABAH, KLAIPEDA, JEDDAH, KING ABDULLAH PORT, KOPER, LATTAKIA, ALIAGA, ANTALYA, DERINCE, GEMLIK, ISKENDERUN, MERSIN, SAMSUN, TEKIRDAG (ASYAPORT), TRABZON, CHARLESTON, HOUSTON, NEW YORK, SAVANNAH.
Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
72 MEDUPX173727
73 MEDUU8420041
74 MEDUDM659113
75 MEDUJ4119536
76 MEDUJ4115989
77 MEDUJ4117993
78 MEDUJ4119312
79 MEDUJ4119601
8 MEDUIH530475
80 MEDUJ4118207
81 MEDUJ4119544
82 MEDUJ4119593
83 MEDUJ4119197
84 MEDUUG534081
85 MEDUDY118223
86 MEDUDY116094
87 MEDUDY116375
88 MEDULT060380
89 KNY2312028512
9 MEDUIH525475
90 MEDUU8613058
91 MEDUU8621853
92 MEDUU8621408
93 MEDUU8621671
94 MEDUU8620913
95 MEDUU8624360
96 MEDUU8619964
97 MEDUU8616382
98 MEDUU8624865
99 MEDUU8622562
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
CJ-IIIA
Ocean Harmony 29/03
CJ-IV Thrasyvoulos V Interocean 01/04
CJ-V VACANT
CJ-VI VACANT
CJ-VII Western Singapore Genesis 28/03
CJ-VIII VACANT
CJ-IX Senorita Interocean 31/03
CJ-X VACANT
CJ-XI VACANT
CJ-XII Artam Armita India 29/03
CJ-XIII Seastar Viking Synergy
CJ-XIV VACANT
CJ-XV VACANT
CJ-XVAVACANT
CJ-XVI Bentley Cross Trade 30/03
OJ-V VACANT
OJ-VI VACANT
NEW DELHI: The Department for Promotion of Industry and Internal Trade (DPIIT) hosted a stakeholder consultation at Vanijya Bhawan, New Delhi on “Enabling Women Workforce Participation in Logistics Sector” recently It was aimed to catalyze the participation of women in the logistics sector, a critical component ofthenation’sViksitBharatvision2047.
The event featured a keynote address by Shri Rajeev Singh Thakur, Additional Secretary, DPIIT, who highlighted the importance of gender d i v e r s i t y f o r t h e g r o w t h a n d innovation of the logistics industry His address set the tone for the day’s deliberations, focusing on actionable insights and collaborative efforts.
The consultation brought together over 50 professionals from a diverse group which included Industry
Enterprises, Skill training institutes, academia, Bi-lateral and Multilateral institutes to discuss and strategize the way forward for gender inclusivity in logistics. The event underscored
encourages and facilitates the involvement of women at all levels of the logistics chain.
The discussion dissected various challenges hindering women’s entry and retention in the logistics workforce Topics ranged from infrastructural barriers to the need
for policy reforms that prioritise women’s safety, training, and professional growth.
The discussions also shed light on the untapped potential of women in driving innovation and efficiency in logistics Success stories and best practices from around the globe, illustrating the transformative impact of women’s increased involvement in the sector were also shared
Going forward, the study will undertake extensive feedback from all the relevant stakeholders to prepare a roadmap for creating an enabling environment for increasing women workforce participation in the logistics sector.
N E W D E L H I : T h e U K Government’s decision to replace the popular Generalised Scheme of Preferences (GSP) programme, w h i c h o f f e r e d i m p o r t d u t y concessions to developing nations and LDCs for certain items, with the “simpler and more generous” Developing Countries Trading Scheme (DCTS) has resulted in some inadvertent confusion for Indian exporters as product description under the new scheme is different from one used by India for exports, sources have said.
E f f o r t s a r e n o w o n b y t h e exporters’ body Federation of Indian Export Organisations (FIEO) to match the products by drawing equivalents so that there is clarity for exporters on the items being referred to under the new scheme, a source tracking the matter told.
“It is important for Indian exporters to sort out technical i s s u e s r e l a t e d t o p r o d u c t identification under the DCTS as India’s exports worth an estimated $2 5 billion annually were entitled for the GSP benefit in the UK,” the source said
The scheme is intended to benefit labour-intensive sectors such as leather, carpets, chemicals, iron and steel and textiles.
Chairperson, VPA has issued Letter of Award on 23 02 2024 to EVERSUN Marine Trade Private Limited, Visakhapatnam for the PPP Project for the work “Development and Mechanization of existing East Quay – 6 Berth in the Inner Harbour of Visakhapatnam Port for handling all types of Cargos on DBFOT basis” in the presence of Heads of Departments and Head of Project Monitoring Unit. Chairperson, VPA, informed that this
The DCTS, which is described by the UK government as a simpler and more generous preferential trading scheme designed to boost trade with developing countries, offers import duty cuts similar to the GSP scheme, but the origin declaration process for exporters for their goods to claim benefits was changed.
“The Directorate General of Foreign Trade has recently issued a notification on the changed origin declaration requirements under the UK DCTS which replaced the GSP But the products were not notified. The UK website gives the product description with HS 12-digit codes but I n d i a u s e s H S 8 - d i g i t c o d e s Now somebody has to find out the equivalent 8-digit code as that is what is used by Indian exporters. FIEO has stepped in to do so and hopefully, the matter will be sorted out soon,” the source said.
HS classication
The Harmonised System (HS) classification is an international customs classification system which allocates a unique 6-digit HS code to each group of products which lays down the chapter, heading and sub-heading under which a given item is classified to determine what tariffs they attract. The HS codes are further subdivided into 7 to 12- digit items or
more depending on the country for a finer classification of items.
“In international trade, the HS classification nomenclature varies from country to country. But there is no change in the HS 6-digit code which is strictly according to the World Customs Organisation classification
So if products get identified at the HS 6-digit level then concurrence between the subgroups at the higher levels of classification can be worked out. Exporters can do the matching,” agovernmentofficialsaid
“Starting from January 1, 2024, Indian exporters to the UK are required to adhere to the new rules under DCTS to avail concessions on their exports to the UK,” the trade notice issued by the DGFT last week noted.
Goods that meet the UK DCTS Rules of Origin (ROO) requirements w o u l d b e e l i g i b l e t o c l a i m a concessional rate of import duty for exports to the UK.
“Consequently, the origin criteria necessary for satisfying the ROO to avail tariff concessions on exports from India to the UK must be filled in through self-certification,” it added.
Indian exporters must, therefore, use origin declaration wording under the DCTS scheme, in place of origin declaration wording under GSP
facility would add more throughputs to the Port of Visakhapatnam.
The proposed facility is a Semimechanization of the existing EQ-6 Berth with Berth length of 255Mtrs, which involves installing new Harbour Mobile Crane (HMC) with 1500TPH and Mobile Hopper of 150 T along with other
handling equipments i e Cranes, Loaders, Trucks, Fork lifts etc. with an investment of Rs. 66.12 Crores, which can handle all types of cargos with handling capacity of 2.62MMTPA
The facility developed is envisaged for handling vessels upto 50,000 DWT, maximum LoA of 200Mtrs. with beam of 32 Mtrs. at a draft of 11.50 Mtrs. The entire construction work including installation of new HMC and other project facilities is likely to complete within 15 months from the date award of concession The total Concession Period is 30 years. The proposed facility is likely to generate employment to atleast 100 direct and indirect employments to locals and shall be with State of Art technology.
Morgan Stanley raises India's GDP growth expectation for FY25 to 6.8%
MUMBAI: Global Brokerage firm Morgan Stanley has raised India's GDP g r o w t h e s t i m a t e s f o r F Y 2 5 t o 6.8 per cent from 6.5 per cent earlier on the back on continued traction in industrial and capex activity
The forecast for FY24 GDP stood at 7 9 per cent "We expect GDP growth to track at around 7 per cent in
QE Mar-24 with GVA growth of 6.3 per cent and thus F2024e GDP growth of 7 9 per cent," the company said in its report
Furthermore, it said that the growth us expected to be broad-based and the gaps between rural-urban consumption and private-public capex will be narrow in the next fiscal i.e. FY25.
"The cycle will have more years of s t e a d y e x p a n s i o n d r i v e n b y improvement in productivity growth, which will ensure macro stability remains benign. Indeed, we expect CPI inflation to track at 4 5 per cent in F2025e and F2026e and current account deficit at 1 per cent of GDP in F2025e and F2026e," it further stated.
The above vessel has arrived on 26-03-2024 at MUNDRA PORT with Import cargo from BEIRA. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
Item No. B/L No.
1
MEDUEB117798
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
The above vessel is arriving at PIPAVAV PORT on 05-04-2024 with Import Cargo in containers.
GOSUHKG83476897
GOSUHKG83476899
GOSUHKG83477001
GOSUHKG83477065
GOSUHKG83477066
GOSUHKG83477082
GOSUHKG83477097
GOSUNNJ2002312
GOSUSHS9530180 1—
GOSUSHS9530183 1—
GOSUSHS9530184 1—
GOSUSHS9530185 1—
GOSUSHS9530186 1—
GOSUSIN8144632 1—
GOSUSIN8144818 —1
GOSUSIN8144987 —2
GOSUSNH1825200 1—
GOSUSNH1825201 1—
GOSUSNH20948220 5—
Consignees are requested to obtain
Consignees are requested to note that the
notification regarding the arrival of the cargo vessel or their goods.
As
GOSUSNH20948222 1—
GOSUSNH20948223 2—
GOSUSNH20948229 —1
GOSUSNH8437971 6—
GOSUSNH8459333 3—
GOSUSNH8462932 1—
GOSUSNH8462960 4—
GOSUSNH8462961 3—
GOSUSNH8462962 3—
GOSUXIA8366050 1—
GOSUXIA8366634 1—
below
NEW DELHI: The Red Sea crisis is expected to adversely impact trade volumes in a substantial way in 2024, said a report by GTRI, adding that rising shipping, and insurance costs, delayed arrival of shipments will continue to disrupt global value chains, squeeze margins and make exports of many low margin products unviable from current locations
Countries like Asia, Africa and Europe will face the most disruption across industries. Started in a major way on October 19, 2023, the Red Sea crisis is in its fifth month now
Trade disruptions due to Red Sea crisis
The Red Sea shipping crisis has disrupted global trade and supply chains, particularly affecting routes through the Suez Canal, which handles about 30 per cent of global container trade. With ships now detouring around Africa’s Cape of Good Hope, transit times have gone up by 30 per cent and the global container shipping capacity too has dropped by about 9 per cent, said GTRI. This detour delays shipments from Asian producers to European consumers by up to 20 days.
Additionally, container freight rates also spiked by $500 in the last week of December 2023, with c o m p a n i e s l i k e H a p a g - L l o y d significantly raising their rates for s h i p m e n t s f r o m t h e I n d i a n subcontinent to North Europe
Maersk too is diverting all container vessels from Red Sea routes, warning customers to prepare for significant disruption.
According to data shared by the IMF, the volume of trade that passed through the Suez Canal dropped by 50 per cent year-on-year in the first two months of the year, and the volume of trade transiting around the Cape of Good Hope surged by an estimated 74 per cent in comparison to the last year’s level. By mid February 2024, approximately 621 container ships had changed their usual routes in order to avoid the crisis zone.
Now this necessary rerouting, GTRI added, is causing congestion in key ports like Cape Town, Ngqura, Richards Bay, and Durban in South Africa, leading to delays in loading and unloading cargo, which could exacerbate supply chain challenges and potentially lead to shortages.
Impact on India
The impact of the ongoing crisis impacted Indian trade, especially with the Middle East, Africa, and Europe. Approximately 65 per cent of India’s crude oil imports in FY2023, valued at $105 billion, from countries like Iraq, Saudi Arabia and others, passed through the Suez Canal Further,
p e r t h e r e p o r t , f o r o v e r a l l merchandise trade with Europe and North Africa, about 50 per cent of imports and 60 per cent of exports, totaling $113 billion, might have used this route. “This conflict is leading to i n c r e a s e d s h i p p i n g c o s t s (40-60 per cent) and delays due to rerouting (upto 20 days more), higher insurance premiums (15-20 per cent), and potential cargo loss from piracy and attacks,” the report said.
Shipping costs for all container goods, including cars and electronics are also up Confectionery companies are hit by high cocoa prices and shortages due to late deliveries from Africa, which has ultimately reduced profits Further, textile and leather industries, which operate on thin margins, are renegotiating shipping costswithbuyers,impactingearnings What can India do to mitigate these challenges
To avoid high costs of oil imports, India might look to diversify its sources of crude oil and LNG, and explore alternative trade routes to reduce dependency on the conflictprone Red Sea passage. “While India is implementing measures to ensure the safety of its ships in the Red Sea, the effectiveness may be limited as most Indian cargo is carried by global shipping firms,” GTRI said. Further, India can also rely on ports outside conflict zones, like Oman and Djibouti, for transshipment and regional trade.
G T R I a l s o s t a t e d t h a t t h e government can offer financial support and insurance schemes to Indian companies affected by trade disruptions, while also strengthening partnerships with regional players like Saudi Arabia and the UAE to encourage economic cooperation and stability
Meanwhile, Indian firms are scrambling to avoid disruption to shipments due to attacks in the Red Sea. They are negotiating costs with logistics providers, insurance c o m p a n i e s , a n d c o n s i d e r i n g alternative ports to ensure the timely delivery of goods. “Firms are adopting strategies like multiple sourcing for less complex components to maintain supply continuity and cost efficiency For more complex and critical products, companies are exploring strategic sourcing options including o n s h o r i n g , n e a r s h o r i n g , a n d friendshoring to reduce geopolitical risks and ensure supply chain resilience,” it said.
Trade disruption in Europe and Africa
As a result of the Red Sea crisis, countries around the world, including those in Europe, Asia, and the Americas, are also seeing price
increases in a variety of products, from food to electronics, which ultimately contributes to inflation and impacts consumer spending power
European Countries: European countries, heavily reliant on the Suez Canal for Asian imports, are grappling with higher shipping costs and potential goods reception delays, impacting a broad spectrum of industries from food to manufactured items. Countries in Northern Europe like Germany, the Netherlands, the UK, Belgium, and France are particularly vulnerable to these delays and cost increases.
Africa and the Middle East (including Egypt, Sudan, Yemen): These regions are particularly vulnerable due to their reliance on grain imports of wheat, corn, and rice through the Red Sea. Countries like Egypt, Sudan, and Yemen, already facing food insecurity, could see worsening conditions if grain shipments are delayed or become more expensive.
Russia: Crude oil exports to India, transiting through the Suez Canal, are impacted by the need for longer transit routes, affecting supply dynamics, costs and decreasing trade volumes.
A comprehensive international collaboration
With such drastic impact, the crisis underscores how geopolitical conflicts can swiftly destabilize global shipping routes, leading to increased shipping c o s t s a n d s i g n i f i c a n t d e l a y s across multiple sectors and regions. The crisis also underscores the importance of exploring alternative maritime and land based trade routes. This, GTRI said, includes potential investment in the Northern Sea Route a n d e x p a n d e d l a n d t r a n s p o r t infrastructure India-Middle EastEurope Economic Corridor (IMEC) becomes important in this context. IMEC, a key alternative to Suez route to export to Europe
I n d i a h a s p r o p o s e d t h e development of the India-Middle EastEurope Economic Corridor (IMEC) and it is facing delays due to the 2023 Israel-Hamas war Launched in September 2023, the IMEC was announced at the G20 Summit in New Delhi with backing from the US, India, European Union, and several M i d d l e E a s t e r n c o u n t r i e s It comprises rail, road, and sea routes across two main corridors: The East Corridor links India to the Arabian Gulf. The Northern Corridor connects the Gulf to Europe. Despite the delays, the IMEC is seen as an initiative that could significantly boost trade and economic development across three continents when realized.
I.G.M. NO. 2372542 DT 27-MAR-24 Exch rate 85.39
The above vessel is arriving on 29-03-2024 at MUNDRA PORT with Import cargo from ABU DHABI, JUBAIL.
Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
The above vessel is arriving on 29-03-2024 at MUNDRA PORT with Import cargo from MESAIEED, AD DAMMAM, JUBAIL.
Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
The above vessel is arriving on 29-03-2024 at MUNDRA PORT with Import cargo from ABU DHABI, JEBEL ALI, MESAIEED, AD DAMMAM, JUBAIL.
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
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NEW DELHI: India’s foreign trade is likely to push the country’s gross domestic product (GDP) growth by about 0.3-0.4 percentage points (pps) in Q4 FY24, after being a drag for three consecutive past quarters, economists reckon.
“For the first time this fiscal, we anticipate foreign trade to contribute positively to the March quarter’s GDP , with exports of goods and services being valued higher than the imports,” said a note by the Centre of Monitoring Indian Economy (CMIE).
In Q1, Q2 and Q3 of the current fiscal, n e t e x p o r t s c o n t r i b u t i o n t o GDP growth was (-)5.5 pps, (-)1.8 pps, and (-)1.2 pps, respectively
Typically, India maintains a merchandise trade deficit, while services trade is in surplus. On a net basis, the country’s foreign trade in both goods and services turn out to be surplus in some quarters and deficit in others. Inflation and the value of the rupee are key determinants too.
I n J a n u a r y - Fe b r u a r y, t h e country’s overall trade deficit –including merchandise and services –
stood at $2.7 billion, much lower than $8 billion in the comparable period of FY23. Overall exports in the first two months of March quarter rose 11.7% on year, while imports grew just 7.2%.
Even though CMIE has not the estimated net exports print for March, it expects “net exports to be in surplus in the March 2024 quarter”. This means, March may witness significant trade surplus.
The National Statistical Office (NSO), however, has projected net exports to contribute negatively to GDP growth by 1 percentage point in Q4 FY24 According to the second advance estimates (SAE), India’s GDP is seen growing 5 9% in Q4, which is sharply lower than the projections of several economists, and also the Reserve Bank of India (RBI).
According to the RBI’s nowcast model India’s economy is expected to grow 7.2% in Q4, which will take the full year’s growth to 8%, much higher than the 7.6% growth projected by the NSO. CMIE sees the Q4 growth at 6.7%.
“NSO has already accounted for improvement in trade balance in the current quarter, even as some further upside is difficult to rule out,” said A b h i s h e k U p a d h y a y, S e n i o r Economist, ICICI Securities Primary Dealership. Upadhyay, however, didn’t give any estimate as he said that “extrapolating monthly trade data to assess impact on real GDP growth is complicated by the role of deflators that are difficult to get a handle on.”
Swati Arora, Economist, HDFC Bank says that going by the SAE, net exports are likely to be “less” of a drag on GDP in Q4 IDFC FIRST Bank Economist Gaura Sen Gupta s a i d t h a t b a s e d o n J a n u a r yFe b r u a r y o v e r a l l t r a d e d a t a , “the drag from net imports should be less with a surge in services surplus on a Y-o-Y basis ”
Meanwhile, even as there is a possibility that overall GDP growth may be better than implied by the NSO, it is more likely to be a result of stronger consumption demand rather than trade balance, say economists.
KOLKATA: India’s engineering exports to Russia doubled to USD 1.22 billion till February during the 2023-24 fiscal, Engineering Export Promotion Council (EEPC) of India said recently. The shipments to the country stood at USD 616.68 million in the previous fiscal, it said.
The exports to the US dipped seven per cent year-on-year to USD 15.95 billion during this period, EEPC said in a statement. In case of China, engineering shipments to that country saw a marginal decline to
USD 2.38 billion from USD 2.40 billion in the period under review, it said. Exports to the UAE and Australia, with which India had signed an FTA, remained positive.
Till February, shipments to the UAE rose 16 per cent on-year to USD 5.22 billion, while those to Australia was higher by five per cent at USD 1.30 billion. Cumulative engineering exports during April-February (2023-24) stood at USD 98.03 billion as against USD 96.84 billion in the corresponding period a year ago, the
statement said “In the last few months, engineering exports from India have been on a steady growth path. The remarkable performance of the sector in the last three months made it possible for the cumulative exports to record high growth.
“As India’s current economic performance stabilises, we are hopeful that with the positive turn of tide in global trade, India’s exporting community will be able to lift exports to a new high,” EEPC India Chairman Arun Kumar Garodia said
NEW DELHI: The Indian Navy, which has deployed more than 10 warships in the region, has thwarted several piracy attempts in and around Arabian Sea during the last 100 days
Not a single Indian-flagged vessel has been targeted in and around Red Sea by Iran-backed Houthi rebels, who have mostly attacked ships linked to Israel and western nations after tensions escalated in the region following the Israel-Hamas conflict that began on October 7, 2023, but the situation in the western Indian Ocean is volatile and the Indian Navy will remain deployed there till normalcy returns, Indian Navy Chief Admiral R Hari Kumar said recently.
“The Houthis have been targeting vessels linked to Israel and ships sailing under the flags of some Western countries. The situation is volatile. It may not worsen but it is
likely to stay the way it is as it is linked to the Israel-Hamas conflict…We will ensure that things do not escalate.”
His comments came during a media briefing to mark 100 days of maritime security operations in the region where merchant vessels have faced a barrage of missile and drone attacks by the Houthis, and hijacking attempts by Somali pirates.
His briefing came days after the navy apprehended 35 Somali pirates and ensured safe evacuation of 17 crew members of hijacked vessel Ruen after a 40-hour operation that involved the elite marine commandos being air-dropped from C-17 aircraft around 1,400 nautical miles (2,600 km) f r o m t h
The mission involved INS Kolkata, which intercepted the pirate ship, I N S S u
remotely piloted aircraft and P8-I
maritime patrol aircraft.
The 35 pirates were handed over to the Mumbai police recently
In the last 100 days, 21 Indian warships have been deployed for operations in the region, accounting for around 5,000 naval personnel being at sea, and 900 hours of flying by the maritime surveillance aircraft, according to Indian Navy data. The navy has carried out almost 1,000 boarding operations on the high seas It is conducting maritime security operations in three areas — in and around Gulf of Aden, the Arabian Sea and off the Somali coast.
The developments in the region have led to insurance costs going up by around 35% and container costs increasing from $500 to $2,000, w i t h 4 0 % - 5 0 % s h i p p i n g f i r m s re-routing their ships around the Cape of Good Hope, Navy Chief said.
NEW DELHI: India's proposed free trade agreements (FTAs) with the UK and Oman are expected to figure in the Commerce Ministry's 100-day agenda roadmap for the new Government, an official said. The Ministry will also focus on issues pertaining to the exporting c o m m u n i t y w i t h a v i e w t o promoting the country's outbound shipments.
Further talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a c o m p r e h e n s i v e e c o n o m i c cooperation agreement (CECA) are also progressing at a healthy rate The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officialsof their respective Ministries to discuss how the agenda for the first 100 days and the next five years canbebetterimplemented.
The official said that these two FTAs are in their final stages as talks on most of the issues have been concluded.
"The majority of difficult matters in India-UK FTA negotiations are moving towards resolution, and both sides are actively engaged for a fair and equitable deal," the official said.
According to a report by the think tank GTRI (Global Trade Research Institute), the overall gains for India in the trade deal will be limited because most of the goods from here are already entering the UK at low or zero tariffs (import or customs duties).
In 2022-23, India's merchandise exports to the UK were valued at USD 11.41 billion and out of this, USD 6 billion worth of goods such as petroleum products, medicines, d i a m o n d s , m a c h i n e p a r t s , airplanes, and wooden furniture entered Britain at zero levies, it has said.
However, there will be gains from reducing duties for Indian exports worth USD 5 billion and those items include textiles, apparel (shirts, trousers, women's dresses, bed linen), footwear, carpets, cars, marine products, grapes and mangoes, the report has noted.
On the proposed free trade agreement between India and Oman, the official said that this will be concluded "very" soon.
For India, Oman is the third largest export destination among the Gulf Cooperation Council (GCC) countries. India has already implemented a trade pact with another key GCC member - the UAE.
The bilateral trade between I n d i a a n d O m a n s t o o d a t USD 12.39 billion in 2022-23 as against USD 10 billion in 2021-22. India's exports have increased to USD 4 48 billion in 2022-23, while imports rose to about USD 8 billion in the last fiscal year.
LONDON: The Gemini cooperation agreement between Maersk and Hapag-Lloyd will rely heavily on a small number of transhipment hubs to support its new network, according to the latest update by Drewry.
“The operational performance of several of the terminals is assessed to be world-class in terms of intensity of asset use but Drewry highlights that strong performance will be essential if the hub-and-spoke strategy is to succeed.”
T h e G e m i n i c o o p e r a t i o n agreement covers seven trades –Asia/USWC, Asia/USEC, Asia/ Middle East, Asia/Mediterranean, Asia/North Europe, Middle EastIndia/Europe and Transatlantic The network comprises 26 mainline
services supported by 32 dedicated shuttle routes.
“ T h e p l a n n e d n e t w o r k streamlines the number of port calls in each region with the aim of reducing disruption. As a result, the loops are focussed heavily on ‘hub & s p o k e ’ t r a n s h i p m e n t h u b s s u p p o r t e d b y h i g h - c a p a c i t y dedicated shuttle loops that link the regional hubs with other gateway ports. In total, the mainline services will call at only 56 ports with a further 29 ports served by dedicated shuttles.”
The services operated under t h e G e m i n i c o o p e r a t i o n agreement will make extensive u s e o f 1 5 h u b p o r t s . A P M T operates terminals in eight of the selected ports with Hapag Lloyd having operational terminals in
two of the ports while investing in a third, the update added.
“The high level of ownership across the hub port network provides the partners with a greater degree of c o n t r o l o v e r o p e r a t i o n a l management and investment plans –bothofwhichwillbekeytothesuccess of the hub-and-spoke strategy the partnershipwillemploy
“Several of the selected hub ports are already world leaders in terms of operational performance – APMT’s facilities in Tanger Med are both handling over 2,000 TEU per metre of quay and more than 200,000 TEU per c r a n e , a s i s A P M T S a l a l a h . Tanjung Pelepas, Singapore, East Port Said and Algeciras – all of which handle high levels of transhipment –also rank highly in Drewry’s annual surveyofterminal performance.”
MUMBAI: S&P Global Ratings on Tuesday raised India's growth forecast for the next financial year to 6.8 per cent, but flagged restrictive interest rates as a dampener for economic growth.
The Indian economy is estimated to have clocked a growth of 7.6 per cent in the current fiscal.
In November, last year, the USbased agency had projected India's growth to be 6.4 per cent in 2024-25
fiscal on robust domestic momentum.
"For Asian emerging market (EM) economies, we generally project robust growth, with India, Indonesia, the Philippines, and Vietnam in the lead," S&P said in its Economic Outlook for the Asia Pacific.
In largely domestic demand-led economies such as India, Japan, and Australia, the impact of higher interest rates and inflation on household spending power reduced
sequential GDP growth in the second half, S&P said.
"We expect India's real GDP growth to moderate to 6.8 per cent in fiscal year 2025 (ending March2025)," S&P said.
Restrictive interest rates are likely to weigh on demand next fiscal year, while regulatory actions to tame unsecured lending will affect credit growth. A lower fiscal deficit will also dampen growth, it added.
MARSEILLE: Effective from April 2024, CMA CGM will operate NRX (North Red Sea Express), a joint upgraded service connecting Saudi Arabia Jeddah Islamic Port to NEOM, North Red Sea ports of Sokhna in Egypt, Aqaba in Jordan and Yanbu in Saudi Arabia, expanding logistic capabilities in the North Red Sea and reinforcing Saudi Arabia's growing strategic position as a global logistics hub.
This service will be operated in partnership with Folk Maritime, Saudi Arabia’s pioneering independent feeder and short-sea shipping operator
The weekly service will provide two vessels catering to cargo transshipping from both Jeddah Islamic Port Terminals Red Sea Gate Terminal (RSGT) and DP World Jeddah (DPW Jeddah). It aims to facilitate the growing market and trade needs of the region, whilst simultaneously ensuring the smooth handling of cargo and seamless delivery to local organizations.
NRX will cater to the needs of customers who seek
growth within these key regional ports. It will also help to reduce carbon emission by offering reliable and effective alternative sea solution between Jeddah, NEOM and Yanbu.
The first sailing of the NRX service will take place from Jeddah on April 9th, 2024 by M/V JIN SHUN HE.
“CMA CGM is pleased to partner with Folk Maritime in this upgraded service connecting Jeddah ports to the growing market needs of NEOM and other key ports in the North Red Sea. This service will not only contribute to Saudi Arabia expansion of its logistic capabilities in the North Red Sea, but also serve our customers with a better offering in this key region where CMA CGM Group has been pioneering direct calls to the port of NEOM since March 2023,” says Olivier NIVOIX Executive Vice-President CMA CGM Group Lines.
Rotation will be the following: Jeddah RSGT –Jeddah DPW – NEOM – Sokhna - Aqaba – Yanbu –Jeddah RSGT.
AMSTERDAM: It is exciting to see the industry recognising the value of digitalisation. The chemical supply chain event encouraged companies to adapt their “workforce, systems and resources to foster end-to-end supply chain connectivity” and “harness the power of master data integration” for “real-time visibility and risk mitigation.”This requires a transformation, and there are challenges to face which supply chain partners must work together to overcome. Digitalising operations is no small undertaking, not least because the chemical industry must also navigate geopolitics, regulation and security considerations.Yet, companies recognise that collaboration and interoperability will help them leverage data insights more effectively and use them to improve supply chain management They want to improve agility, sustainability processes and reduce costs They acknowledge the challenge isn’t only to improve information exchange with external partners; they also must streamline internal communication. Supply chain and logistics, procurement, compliance and other teams can only collaborate fully and effectively when they have the right data and resources. In this, as with their external environment, they are finding new ways to partner and work together
Standards for bidirectional data
Standards for bidirectional data are very important for reliable, fast access to information. DCSA’s message at the event was that standardising data can help the chemical supply chain achieve interoperability, efficiencies and reduced costs. The workshop was an opportunity to explain DCSA’s role in container shipping, build awareness of digital standards, discuss how they can support strategies in the supply chain, understand industry goals and unpack obstacles to implementation. Understandably, manufacturers want to know what is in it for them. Like all cargo owners and freight forwarders they suffer from inadequate access to accurate, timely digital data. This increases operational costs by creating inefficiency, uncertainty and waste. On-demand access to shipping data and documents
They need a fully interoperable global trade
ecosystem, in which all stakeholders have on-demand access to accurate, timely digital shipping data and documents. DCSA’s standards align data, processes and technology so trade participants can automatically exchange critical information in real-time. This improves container visibility into the end-to-end cargo journey as stakeholders progressively eliminate manual processes.By adopting DCSA standards, chemical manufacturers equip their logistics teams to make more effective business decisions and improve resource utilisation, but they also want to be more flexible and able to respond rapidly to changing events. This fuels their appetite to work on new business methods.Added to this, chemical manufacturers supply automotive and pharmaceuticals, industries that must be transparent, are heavily regulated, and have sustainability aims These customers demand their suppliers help them achieve these goals, and that spurs the chemical industry still further to pursue every opportunity to sharpen practices, improve processes and work smarter.In this, software solutions providers, also in attendance at LogiChem 2024, play a key role. Their solutions facilitate the exchange of shipping data and documentation between cargo owners, terminals, banks and other stakeholders. With DCSA’s digital standards, solutions providers can create channels for this data exchange to be seamless, by using interoperable data models and Application Programming Interfaces (APIs) This enables more effective collaboration and reduces the resources required to develop solutions that maximise value.
Taking the next step
The chemical supply chain recognises that collaboration is key to addressing its challenges to align and harmonise data in the internal and external environments. The technology and data are there to support a digital transformation that will enable interoperability, boost efficiency, improve the customer experience and support sustainability objectives At LogiChem EU, we saw a willingness for change and the talent to make progress happen.
