GUJ-29-04-2024

MSC makes $700m takeover bid for Gram Car Carriers

GENEVA: Liner giant Mediterranean Shipping Co (MSC) has moved to take over Gram Car Carriers (GCC) in a potential deal that values the world’s third-largest car carrier tonnage provider at about NOK7 6bn ($700m)

The offer of NOK263.69 per share in cash has been made via MSC subsidiary Shipping Agencies Services (SAS) and represents a premium of 28.3% to GCC’s stock price on April 23.

The board of the Oslo-listed GCC, which reported a revenue backlog of $794m at the end of the first quarter, has unanimously resolved to recommend the shareholders to accept the offer Shareholders, including members of the board and the executive management, who collectively own about 55 85% of the company’s

Working on Infrastructure to achieve $1 Trn exports by 2030 : Commerce Ministry

issued and outstanding share capital, have on certain terms and conditions undertaken to accept the offer.

Gram’s largest shareholders F Laeisz, AL Maritime, Glenrinnes Farms, HM Gram Investment and HM Gram Enterprises, which in aggregate hold around 54 54% of the shares, have given irrevocable undertakings to accept the deal

“Today’s voluntary offer by one of the world’s leading maritime groups, is a validation of the unique position GCC has built as a leading car shipping tonnage provider and the long-term commitment put in by the entire team. The board is satisfied that the offer represents a fair valuation of GCC, as is also reflected in the recommendation to shareholders to accept the offer,” said GCC Chairman Ivar Myklebust

Cont’d Pg. 6

Adani's Vizhinjam Port gets Shipping Ministry nod to run India's 1st Transshipment operations

NEW DELHI: The Commerce Ministry (MoCI) has initiated an exercise to identify required infrastructure needs, potential sectors, and clusters which would help the country achieve the $1 trillion merchandise exports target by 2030, a senior Government official said recently Additional Secretary in the Department of Commerce Mr Anant Swar up sa id t ha t t he Asian Development Bank has been requested to conduct a study in this regard

Cont’d Pg. 19

Cont’d Pg. 19

NEW DELHI: The Adani Group’s Vizhinjam Port has received the Shipping Ministry’s approval for operating as India’s first transshipment port. The recommendation for declaring it a customs-notified port was made earlier last week, according to people aware of the details. Current regulations require the Shipping Ministry’s nod to prevent competing projects from being permitted before capacity at operational ports is saturated.

MSC makes $700m takeover bid for Gram Car Carriers

Cont’d from Pg. 3

The acceptance period will start at the latest on May 31 and remain open for no less than 20 days. The deal is expected to close during the third quarter or, at the latest in the fourth quarter of 2024.

“Car carriers have been amongst shipping’s hottest sectors in recent years,” stated a recent report from Clarksons Research.

Seaborne car trade has been on a remarkable run in recent years, rebounding by 38% across 2021-23 after a 20% Covid-driven decline in 2020. 2023’s estimated deep sea trade total of 24.2m cars stood 15% above pre-covid levels, well ahead of total global seaborne trade more

broadly (+2.3%).

The move by the world’s largest containerline on Gram’s fleet of 18 owned car carriers presents business elements that are familiar to the MSC Group, which already has two 6,700 CEU ships and transports regularly an important volume of cars in containers, the Oslo filing explaining the offer said

“GCC…and its management and operational knowhow will be of great value to the MSC Group going forward, while, at the same time, the contemplated transaction will enable the Group and its customers to benefit from the global logistics expertise and footprint of the MSC Group.”

HMM enhances maritime safety with AI technology

SEOUL: HMM has announced that its adoption of an advanced AI image analysis solution 'Deep Eyes', is aimed at boosting safety management across its fleet.

Developed by GlobeAI, a startup founded by professors from Chung-Ang University, Deep Eyes integrates AI image analysis capabilities into CCTV systems.

The technology is designed to detect emergencies such as fires, smoke, safety gear non-compliance, and falls, subsequently alert the management.

Despite the vast size of very large ships, comparable to 3 to 4 soccer fields, they typically accommodate only 23 to 25 crew members.

Traditionally, shipping companies have relied on standard CCTV to monitor the interiors and exteriors of these vessels.

However, the lack of notification features in existing CCTV systems has posed challenges for effective safety management.

With the deployment of Deep Eyes, HMM anticipates a more rapid response to safety incidents on board and

aims to prevent secondary accidents.

The system will be installed on a 24,000 TEU class container ship, the largest in the world, scheduled for next month.

It will cover 15 critical areas, including the engine room and deck.

Following a period of performance assessment, HMM plans to consider a broader application of the technology across its fleet.

Indian economy stands out with strong show: Finance Ministry

N E W

g e c o n o m i c performance" continues to be backed by resilient growth, robust economic activity indicators, price stability and steady external sector performance, the finance ministry said Thursday However, geopolitical tensions such as those roiling West Asia, remain a concern although risk perceptions over them have softened, offering a potential upside for growth, the ministry said in its monthly economic report for March.

India continues to exhibit a robust economic performance, despite global uncertainties, due to factors such as strong domestic demand, robust investment and sustained manufacturing momentum, the ministry said. External sector

The report said slowing global trade, as suggested by the

United Nations Conference on Trade and Development (UNCTAD), presents a challenge for economies worldwide. However, India's trade deficit will likely ease in the coming years as the production-linked incentive (PLI) schemes are extended to more sectors, the report said. It cited forecasts by the central bank and global agencies that reckon the country's current account deficit may have dropped below 1% in FY24.

Moreover, trade pacts like the India-EFTA Trade and Economic Partnership Agreement (TEPA) signed last month "signal India's commitment to expanding its global trade footprint," the report said.

The external debt-to-GDP ratio also eased, albeit marginally, to 18.7% at the end of December 2023 from 18.8% at the end of September 2023.

Deloitte projects India's FY25 GDP growth at 6.6%

MUMBAI: Deloitte India has said that it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services.

With the expectation that the number of middle-to-highincome segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.

Deloitte has revised India's economic growth prediction

for last fiscal to a range of 7 6 to 7 8 per cent In January, the firm had projected growth for 2023-24 fiscal in the range of 6 9-7 2 per cent The country's GDP growth is estimated to reach around 6.6 per cent in FY 2024-25 and 6.75 per cent in the year after, as markets learn to factor in geopolitical uncertainties in their investment and consumption decisions, Deloittesaidinitsquarterlyupdatetoitseconomicoutlook

"The global economy is expected to witness a synchronous rebound in 2025 as major election uncertainties get sorted out and the central banks of the West may announce a couple of rate cuts later in 2024. India will likely see improved capital flows and a rebound in exports" said Deloitte India Economist Rumki Majumdar.

MSC introduces Upgraded Cargo Cover Solutions

GENEVA: MSC has expanded and upgraded its previous cargo protection offering, known as “Peace of Mind”

i n s u r a n c e , w h i c h i s n o w k n o w n a s

“Cargo Cover Solutions”.

Under this new framework, Cargo Cover Solutions is comprised of two products: MSC Extended Protection (EPR) and MSC Marine Cargo Insurance (MCI).

MSC EPR is a well-recognised protection option in leading markets and a global solution for anyone engaged in international transportation. Where EPR is not available or does not apply, MCI is offered as an alternative; most notably in cases where a letter of credit is involved, or when the cargo is fresh goods or chilled food. With EPR, cargo is also protected against damages directly linked to war risk events at sea, at no extra cost.

Benets of MSC Extended Protection

With MSC EPR, customers benefit from a wide range of coverage options at competitive rates, along with fasttrack claim resolution in case of any incidents.

• One-stop shop convenience: MSC remains the sole interlocutor of the customer from booking to claim resolution - Customers receive prompt quotations and coverage confirmation at booking stage, for potential covered incidents during transport under MSC's contract of carriage (being only BL or Intermodal BL).

• Efcient claim process: Claims are handled directly by MSC, ensuring local support, simplified procedures,

and resolution within 30 working days on average

• Tailored competitive rates: Rates are based on cargo value and are applied per shipment, with transparent pricing manifested on the freight invoice. Customers can pick and choose the value they want to protect, with the opportunity to only partially protect their cargo value.

With the introduction of Cargo Cover Solutions, and the enhanced MSC Extended Protection, MSC is empowering businesses to seize opportunities, mitigate risks, and thrive in today's dynamic business environment. MSC’s efforts are to help them to sustain continued growth and success, despite an increasingly complex trade environment.

MSC collaborates with GSBN to trial Integrated Safe Transportation Certification verification process, Boosting safety of Lithium Battery Shipments

GENEVA: MSC is pleased to announce its collaboration with G l o b a l S h i p p i n g B u s i n e s s Network (GSBN), a neutral, not-forp r o f i t c o n s o r t i u m e n a b l i n g paperless, accessible and sustainable growth in global trade with its data infrastructure and ecosystem of partners, to further enhance safety in transporting lithium battery shipments The collaboration was jointly unveiled by MSC and GSBN during the SMDG’s 78th CDC and Plenary Meeting in Antwerp, Belgium.

The increasing presence of lithium-ion batteries carried on container ships amid rising misdeclarations has become a major concern for the shipping industry given the risk of fire In its collaboration, MSC integrated its lithium battery shipment booking process with GSBN, which has extensive access to China’s top testing laboratories and certificationproviders,includingSICITandPonyTesting

sustainability and mark a new era in

shipping safety

As we look ahead, we aim to extend our collaboration to even more shipping lines and certification providers globally to ensure that every journey safeguards lives."

This means following testing, immutable safe transportation certificates can be shared directly by the laboratories over GSBN’s blockchain network and are seamlessly accessed during booking by MSC This improves the overall customer experience while replacing an often paper-based process in which such certificates are hard to verify and carried risks such as loss, mislabelling as well as fraud. The intention is to extend the collaboration to a wider group of certificates as well as expanding the network of laboratories to increase the coverage for carriers.

B e r t r a n d C h e n , C E O a t G S B N , s a i d , “The unprecedented demand for lithium shipments has introduced new challenges for the industry and those who work in it. Our aim is through these collaborations is to harness technology to support the global effort to

Dirk Van de Velde, Chief Health, Safety, Security and Environment Ofcer at MSC, said, “Our collaboration with GSBN offers the best of both worlds. We can offer customers a more streamlined experience from the point of booking, while ensuring that cargo requiring special handling can be safely transported. This has only been made possible by GSBN’s blockchain network and through it, its access to top testing laboratories and certification providers in China, one of the world’s top exporters of goods with lithium-ion batteries.”

MSC is a world leading container shipping lines and is investigating how to collaborate and join GSBN’s broader efforts to improve the safe transportation certification process through blockchain technology This latest announcement builds upon earlier collaborations with members including COSCO Shipping and OOCL.

Left to Right: Arthur Touzot COSCO Shipping Lines; Captain Yi-Syou Hwang Evergreen; Heiko Hübner COSCO Shipping Lines; Bertrand Chen GSBN; CaptainDirkVandeVeldeMSC;JorgDemeyerMSC

INDIA - MALDIVES SHIPPING SERVICE

SHIPPING MOVEMENTS AT GUJARAT PORTS DEENDAYAL PORT

TODAY’S TIDE 29/04/2024

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

Cargo Steamer's Agent's ETD

SHIPPING MOVEMENTS AT ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA DRY & LIQUID VESSELS AT BERTH

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ETA VESSEL’S NAME

ADANI INTERNATIONAL CONTAINER TERMINAL (AICT)

AT BERTH

VESSEL’S NAME AGENT ETD

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ETA VESSEL’S NAME AGENT

Port MSC Rapallo (V-GA417R) MSC Agency Nhava Sheva

MSC Antonia (V-IV416A) MSC Agency Nhava Sheva

MSC Rikku (V-IP417A) MSC

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

VESSELS AT BERTH

BERTH VESSEL’S NAME AGENT ETD

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

VESSEL’S NAME AGENT FROM

CMA CGM Titan (V-OPE91W) CMA CGM Agency

Maersk Danube (V-417W) Maersk India

DP WORLD MUNDRA

TO LOAD FOR EAST, WEST, NORTH & SOUTH AFRICAN

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

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

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

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

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO LOAD FOR WEST ASIA GULF PORT

TO LOAD FOR EAST, SOUTH & WEST AFRICAN PORTS

TO LOAD FOR U.S.A, CANADA, ATLANTIC, PACIFIC & SOUTHERN AMERICA

TO LOAD FOR FAR EAST, CHINA, JAPAN, AUSTRALIA, NEW ZEALAND

LOAD FOR WEST ASIA GULF, RED SEA & EAST AFRICAN

TO LOAD FOR US & CANADA WEST COAST

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

m.v. “MSC SINGAPORE IV” Voy : OM416A

I.G.M. NO. 2375074 Dtd. 24-04-24 Exch rate 85.77

The above vessel has arrived on 25-04-2024 at MUNDRA PORT with Import cargo from NACALA, DURBAN. Please note the item Nos. against the B/L Nos. for MUNDRA delivery. MUNDRA

Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. and usual survey conditions will apply.Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.

- Charges enquiry on land line - 619100

- IGM No./Item No./Destuffing point enquiries can also be done at our computerized helpline No.(079) 40072804 As Agents :

MSC AGENCY (INDIA) PRIVATE LIMITED

Gandhidham : Siddhi Vinayak Complex, Plot No. 1, Office No. 201-208, 2nd Floor, Ward - 6, Near Rotary Circle, Gandhidham - Kutch 370 201 Gujarat India. Tel : +91-2836-619100 to 616100 (Board) E-mail : jatin.hadiya@msc.com, niraj.raval@msc.com, operator.gandhidham@msc.com

H. O. & Regd. Office : MSC House, Andheri Kurla Road, Andheri (East), Mumbai - 400 059 Tel : +91-22-66378000, Fax : +91-22-66378192, E-mail : IN363-comm.mumbai@msc.com • www.msc.com

NOTICE TO CONSIGNEES

m.v. “MSC TERESA” Voy : FY412B

I.G.M. NO. 2375116 DT 24-APR-24 Exch rate 85.88

The above vessel has arrived on 26-04-2024 at MUNDRA PORT with Import cargo from ABIDJAN, SAN-PEDRO, LIBREVILLE, TEMA, CONAKRY, ONNE, TINCAN/LAGOS, LOME

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

MUNDRA

Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. and usual survey conditions will apply.Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.

- Charges enquiry on land line - 619100

- IGM No./Item No./Destuffing point enquiries can also be done at our computerized helpline No.(079) 40072804 As Agents :

: Siddhi Vinayak Complex, Plot No. 1, Office No. 201-208, 2nd Floor, Ward - 6,

Rotary Circle, Gandhidham - Kutch 370 201 Gujarat India. Tel : +91-2836-619100

: jatin.hadiya@msc.com,

Working on Infrastructure to achieve $1 Trn exports by 2030 : Commerce Ministry

Cont’d from Pg. 3

If the countr y is targeting $1 trillion of exports by 2030, there is a likelihood of about $1 5 trillion of imports, so “do we have enough capacity” to cater to $2.5 trillion of export and import trade, he said. So that is the target on which the department is working, he said.

“The ADB is doing a study for us because what is more important is from where the $1 trillion of exports is going to come from; which are those sectors and clusters from where this $1 trillion of exports is going to come from. That is very critical for us.

“Because unless we know about the clusters, and ports or airports from where this $1 trillion of exports and $1.5 trillion of imports is going to happen, we would not be able to do a baseline study to identify the gaps which exist and then enhance our infrastructure capabilities,” Swarup said.

H e w a s s p e a k i n g a t a C I I conference on resilient export

logistics for trade and connectivity

India’s merchandise exports dipped by 3.11 per cent to $437 billion in 2023-24. Imports too dipped to $677.24 billion in the last fiscal.

He also said that the government is also focusing on ways to push India’s integration into the global supply chains (GVCs) as at present about 70 per cent of the global trade is happening through these chains.

For this, there is a need to increase manufacturing He added that generally exports and imports move in tandem. China’s exports stood at about $3.5 trillion and imports are at $3.2 trillion.

Speaking at the event, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that further infrastructure push is required at ports and airports to increase India’s exports.

Saranagi said that to handle $2.5 trillion of exports and imports, India needs to create a lot of infrastructure.

As per rough calculations,

“we need to create an infrastructure which will support an additional 2,000 million tonnes of goods movement in the ports.

“Similarly in the railways, we need to create an infrastructure which will allow railways to carry on an additional 338 million tonnes of goods by 2030. Airports also need to create an additional 5 million tonnes of facilities for movement of goods

So these are big challenges but not insurmountable challenges,” he said. He also said there is a huge potential to increase exports through e-commerce medium. Last year, the cross-border e-commerce trade was about $800 billion and is estimated to reach $2 trillion by 2030.

“We need to reorient our policies t o f a c i l i t a t e a n e - c o m m e r c e ecosystem and have a larger pie in the e-commerce exports,” Sarangi said, adding that China’s e-commerce exports are about $350 billion, whereas India’s shipments through online medium is only $2 billion.

Adani's Vizhinjam Port gets Shipping Ministry nod to run India's 1st Transshipment operations

Cont’d from Pg. 3

“This approval paves the way for customs to set up an office at Vizhinjam port. It will be India’s first f u l l - f l e d g e d d e e p w a t e r transshipment port. A final nod from the Central Board of Indirect Taxes and Customs (CBIC) is expected in the coming three months,” a senior Government official said.

Adani Ports and Special Economic Zone Ltd (APSEZ) started the i n t e r n a t i o n a l t r a n s s h i p m e n t p r o j e c t i n Vi z h i n j a m , Ke r a l a in December 2015.

A transshipment port is a kind of transit hub where cargo from one ship

is transferred to another ship on the way to its final destination.

The initial goal was to complete the Rs 7,700 crore deepwater seaport project in four years by 2019 It is now expected to start operations in this financial year. The project seeks a share in the Indian cargo totalling more than a million containers which are transshipped annually through foreign ports, such as those in Colombo in Sri Lanka

According to APSEZ, the port offers large-scale automation for quick turnaround of vessels with state-of-the-art infrastructure to

handle Megamax containerships –the largest currently in operation globally

Its capacity in the first phase is to be one million TEUs. Another 6 2 million TEUs will be added in subsequent phases. It is estimated t h a t n e a r l y 7 5 % o f I n d i a ’ s transshipment cargo is handled at ports outside the country. Ports in Colombo, Singapore and Klang handle about 85% of this cargo.

APSEZ will declare its JanuaryMarch 2024 financial results on May 2. In 2023-24, the company handled 420 million metric tonnes cargo globally, up 24% year-on-year.

DGFT allows export of 2,000 tonnes of onions via 3 Ports

NEW DELHI: In a surprise move, the Union Government has partially relaxed the indefinite b a n o n o n i o n e x p o r t s a g a i n , p a v i n g t h e w a y f o r t h e

“ i m m e d i a t e ” e x p o r t o f 2,000 tonnes of white onions, primarily grown in Gujarat, from three designated ports.

A notification issued by the Directorate General of Foreign Trade (DGFT) said that exports of white onions would be permitted

only after Gujarat’s Horticulture Commissioner certifies the item and quantity being exported “Exports of up to an aggregate quantity not exceeding 2,000 MT (tonnes) of white onion has been allowed through the specified ports, taken together, with immediate effect,” it said.

The exports are allowed from Mundra Port, Pipavav Port and Nhava Sheva Port.

Exports of onion a politically

sensitive commodity are banned i n g e n e r a l H o w e v e r , t h e Gover nment allows specified quantities of shipments to friendly nations on their requests DGFT is an arm of the Commerce Ministry, which deals with norms related to imports and exports On December 8 l a s t y e a r, t h e G o v e r n m e n t banned exports of onion with a v i e w t o i n c r e a s e d o m e s t i c availability and to keep prices in check

m.v. “MSC PALATIUM III” Voy : JD415A

I.G.M. NO. 2375267 Dtd. 26-04-24 Exch rate 86.03

The above vessel has arrived on 26-04-2024 at MUNDRA PORT with Import cargo from BAHRAIN, SOHAR. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

MUNDRA

Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. and usual survey conditions will apply.Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.

- Charges enquiry on land line - 619100

- IGM No./Item No./Destuffing point enquiries can also be done at our computerized helpline No.(079) 40072804 As Agents :

MSC AGENCY (INDIA) PRIVATE LIMITED

Gandhidham : Siddhi Vinayak Complex, Plot No. 1, Office No. 201-208, 2nd Floor, Ward - 6, Near Rotary Circle, Gandhidham - Kutch 370 201 Gujarat India. Tel : +91-2836-619100 to 616100 (Board) E-mail : jatin.hadiya@msc.com, niraj.raval@msc.com, operator.gandhidham@msc.com

H. O. & Regd. Office : MSC House, Andheri Kurla Road, Andheri (East), Mumbai - 400 059 Tel : +91-22-66378000, Fax : +91-22-66378192, E-mail : IN363-comm.mumbai@msc.com • www.msc.com

m.v. “MSC ANCHORAGE” Voy : XA414A I.G.M. NO. 2375224 Dtd. 25-04-24 Exch rate 86.03

above vessel has arrived on 26-04-2024 at MUNDRA

note the item Nos. against the B/L Nos.

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

Agents :

Gandhidham : Siddhi Vinayak Complex, Plot No. 1, Office No. 201-208, 2nd Floor,

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

O.

Engineering exports up 10.7% in March, says EEPC India

NEW DELHI: India’s engineering goods including steel and machinery exports rose 10 7% year-on-year in March to $11.28 billion, growing in double digits for the second straight month, despite ongoing supply issues caused by disruption to shipping through the Red Sea, a trade body said.

Engineering goods, which account for one-fourth of merchandise exports, rose 2.13% in the 2023/24 financial year, to $109.3 billion from a y e a r e a r l i e r, E n g i n e e r i n g Export Promotion Council (EEPC), a body affiliated with the Commerce Ministry, said in a statement.

Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the

Red Sea shipping crisis brought on by conflict in the Middle East, exporters said.

Engineering exports to the U.S. declined 5 7% year- on-year to $17.62 billion in 2023/24, India’s merchandise exports fell in the 2023/24 financial year – the first decline since 2020/21 – to $437 billion from $451 billion in the previous year.

Automobile exports declined 5.5% in 2023/24 financial year, hit by a shortage of forex reserves in some markets.

“However, a revival of exports was noted in key markets including North America, EU and North East Asia,” s a i d A r u n K u m a r G a r o d i a , Chairman of EEPC.

North America and the European

Union (EU) remained India’s top destinations for engineering exports with a share of 20% and 19%.

Engineering exports to Russia grew sharply in the fiscal year to $1.35 billion from $733.6 million in the preceding year

The exporters however remain worried about prospects in the coming months.

“The protectionist environmental policies of the EU and slow economic revival in China will continue to create uncertainties for the exporters,” Garodia said.

Engineering exports to China, a key market, remained almost flat at $2.65 billion in 2023/24, compared to $ 2 6 3 b i l l i o n i n t h e p r e v i o u s financial year

AEO status now extended to the Gem & Jewellery sector : GJEPC

N E W D E L H I : T h e G e m & Jewellery Export Promotion Council (GJEPC) is pleased to announce a significant milestone for the gem and jewellery industry in India. Following extensive efforts by the GJEPC in collaboration with the Ministry of Finance, the Authorized Economic Operator (AEO) status is now being extended to the gem and jewellery sector. The AEO programe was introduced as piolet project in 2011

vide Circular No. 37/2011 – Customs dated 23rd August. 2011.

The AEO program, a crucial part of the broader ease of doing business initiative, has been instrumental in simplifying export operations across v a r i o u s s e c t o r s , r e s u l t i n g i n significant time and cost savings for exporters Despite the benefits it offers, the gem & jewellery sector was initially denied participation in the AEO program.

However, through proactive engagement with relevant Ministries, the GJEPC successfully advocated for the inclusion of the gem and jewellery industry in the AEO program. Consequently, the Ministry of Finance has communicated that units within the gem and jewellery industry are now eligible to apply for participation in the AEO program, thereby enabling them to avail associated benefits.

India's services exports grow 11.4% in 2023: UNCTAD

GENEVA: India's services exports jumped 11 4 per cent to USD 345 billion in 2023 despite global economic u n c e r t a i n t i e s , w h i l e C h i n a ' s shipments from the sector contracted by 10.1 per cent to USD 381 billion, according to a UNCTAD report. Sectors that contribute to India's services export growth include travel, transport, medical and hospitality

With an 8.9 per cent annual rise in current dollar value terms, the world services exports surpassed USD 7.9 trillion in 2023, a quarterly bulletin of UNCTAD said.

The leading exporters among developing economies include India,

China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia, it added.

India's services imports, however, dipped marginally by 0.4 per cent to USD 248 billion last year.

"The main driver of the YoY (year-on-year) rise of services exports in Q4 2023 was the ample growth of international travel receipts. In the post-COVID-19recovery,travelreceipts increased by 70 per cent in Asia (YoY)," the report said Commenting on India's services exports, an industry expert said that the export of IT and IT-enabled servicesandtravelisgoingstrong.

B u s i n e s s s e r v i c e s l i k e engineering, architecture, legal and

accounting services and research and management consulting services stand to benefit from leveraging the opportunities presented by the government initiatives.

India's service exports have historically been concentrated in North America and Europe, but there is also significant potential for growth in emerging markets, such as Asia, Africa, and Latin America.

" D i v e r s i f i c a t i o n o f e x p o r t destinations by Indian exporters can help cut dependence on traditional m a r k e t s a n d o p e n u p n e w opportunities for the sector," the expert said.

Russian Chamber of Commerce & Industry opens office in Mumbai amid big interest of Entrepreneurs in India

MUMBAI: Russian Chamber of Commerce and Industry has opened its office in Mumbai to give a boost to the bilateral trade between Russia and India amid big number of Russian entrepreneurs seeking partners in the country

The Honorary Representative of the Chamber of Commerce and Industry (CCI) of Russia on Thursday,

25th April opened the new office in Mumbai.

CCI President, Sergey Katyrin, who is currently heading a Russian delegation of entrepreneurs in India, inaugurated the new office by cutting the ceremonial ribbon alongside prominent Indian officials.

"We are currently overwhelmed w i t h r e q u e s t s f r o m R u s s i a n

entrepreneurs seeking partners in India. This opening (of the new office in Mumbai) doubles, and possibly e v e n m o r e , e x p a n d s o u r opportunities for finding partners, organizing business missions, and participating in exhibitions, and congresses. It is of great significance for us," Katyrin said during the inauguration.

m.v. “MSC RAPALLO” Voy : GA417R

I.G.M. NO. 2375327 Dtd. 26-04-24 Exch rate 86.03

The above vessel is arriving on 30-04-2024 at MUNDRA PORT with Import cargo from PARANAGUA, DALIAN, NINGBO, SHANGHAI, QINGDAO, TIANJINXINGANG, XIAMEN, SEMARANG, BUSAN, MANZANILLO, LONG BEACH, OAKLAND.

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

Item No. B/L No.

Item No. B/L No.

MUNDRA

Item No.

No.

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

- Kutch 370 201 Gujarat India. Tel :

: jatin.hadiya@msc.com,

MoPSW, Cochin Shipyard and IWAI deliberates on ‘Challenges and Prospective Solutions in Inland Waterways and Shipbuilding

KOCHI: Ministry of Ports, Shipping and Waterways (MoPSW), Government of India, along with Cochin Shipyard Limited (CSL) and Inland Waterways Authority of India (IWAI) recently organized a two-day conference in Kochi, Kerala (23-24th April) on ‘Challenges and Prospective Solutions in Inland Waterways and Shipbuilding’, bringing together various state departments, industry experts and stakeholders to delve into pressing issues within the maritime sector. The conference, which featured four insightful sessions, focused on the imperative of decarbonizing the maritime industry and addressed critical challenges in inland water transport and shipbuilding.

Shri R Lakshmanan, Joint Secretary, MoPSW said “The two-day conference at Kochi successfully facilitated enriching discussions encompassing India’s key priorities including Green Transition of Inland Waterways, establishment of a dedicated Sectoral Maritime Development Fund, promoting domestic shipbuilding, etc. This is one among many such meetings being conducted by the Ministry to identify and address the key challenges faced by the maritime stakeholders in achieving the targets set forth in Maritime Amrit Kaal Vision 2047.”

The inaugural session brought to the fore MoPSW’s decarbonization efforts in the Inland Waterways sector being spearheaded by IWAI and CSL.

The afternoon session delved into the pressing financing needs of India's shipping sector, underscoring the mammoth investment requirement of approximately Rs 70-75 Lakh Crore as outlined in the Maritime Amrit

Kaal Vision 2047. Despite this substantial need to support the country's projected trade and economic expansion, there's a notable absence of forthcoming finance sources, including bank credit and foreign investment

The discussion illuminated various financing challenges encountered by Indian maritime stakeholders, particularly in the shipping sector

In response to these challenges, Shri R Lakshmanan, Joint Secretary, MoPSW, shared insights into the Ministry's proactive efforts. The ministry is actively working on establishing a dedicated Maritime Development Fund. Industry stakeholders warmly welcomed this initiative and provided valuable feedback, recognizing its potential to address the pressing financing needs and propel the holistic development of the maritime sector as envisioned in Maritime Amrit Kaal Vision 2047.

The final session of the two-day conference centered on India's shipbuilding capacity, highlighting its current global ranking at 22nd with less than 1% of global share.

2024 FIATA HQ Meeting: The Standardised Path to Digitalisation

GENEVA: FIATA International Federation of Freight Forwarders Associations is proud to share the release of the Key Trade Documents and Data Elements (KTDDE) report, by the International Chamber of Commerce Digital Standards Initiative (ICC DSI), to which FIATA was a key contributor

Released today, the KTDDE report collates 36 key trade documents needed to standardise the international trade ecosystem, identified in the Cross-border Paperless Trade Toolkit published by the World Trade Organization (WTO), the United Nations Commission on International Trade Law (UNCITRAL), and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).

The KTDDE report is the result of a collaborative project between international trade experts under the auspices of the ICC DSI over the course of 18 months. FIATA was a key contributor to the report, providing inputs on key trade documents, such as the FIATA Warehouse Receipt (FWR), the Sea Waybill, and the Shipper’s Letter of Instruction. The report unifies the approach to data across the supply chain and provides a source of reference for all industry stakeholders by creating the foundations for digital trust at scale in the interests of developing common standards based on United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) data model, and fostering interoperability

FIATA, through synergistic industry collaborations and common goals, has positioned itself as a catalyst for digital standardisation across the supply chain and logistics industry, and is leading the way with digitalisation of transport documents with its Digital FIATA Multimodal Transport Bill of Lading (eFBL). As part of its efforts to facilitate interoperability, FIATA cooperates closely with several global stakeholders in the supply chain. Among others, FIATA is an advisory board member of the ICC DSI, which is aimed at fostering a globally harmonised digital

trade environment by addressing manual data cycles and related inefficiencies, as well as recognition by applicable legal systems. In addition, FIATA is a founding member of the Future of International Trade (FIT) Alliance and is participating closely in digitalisation initiatives with the World Customs Organisation (WCO) and projects with shipping lines. With the eFBL already in use worldwide by freight forwarders in their day-to-day operations, FIATA is leading the path to digitalisation and is committed to promoting interoperability through its various industry collaborations.

FIATA also hosted on the second day of its HQ meeting a dedicated session of the FIT Alliance, which unites BIMCO, Digital Container Shipping Association (DCSA), International Chamber of Commerce (ICC), Swift and FIATA The objectives of the FIT Alliance to standardise the digitalisation of international trade were introduced, including its aims to facilitate interoperability, and foster the acceptance and adoption of the electronic Bills of Lading (eBL) by all stakeholders involved in an international trade transaction. The FIT Alliance’s aim to accelerate adoption of a standards-based electronic bill of lading (eBL) across all sectors of the shipping industry is encapsulated in its eBL Declaration, which encourages companies to signal their readiness to drive digitalisation in international trade.

During the session, FIATA Director General, Dr Stéphane Graber, called upon the freight forwarding industry to consider initiatives for the widespread global adoption of the eFBL. FIATA's efforts to globalise the eFBL through its extensive network of FIATA Association Members, enhancing industry value with a trusted network, standardised interoperability, and streamlined business operations were highlighted FIATA continues to work with all stakeholders across the supply chain, including industry actors and governmental authorities, to foster effective and secure data exchangeininternationaltradearoundtheworld