GUJ-29-05-2023

APM Terminals Pipavav consolidated net profit rises 31% to INR 981.34

million in Q4FY23 (INR 750.89 million

PIPAVAV: APM Terminals

Pipavav (Gujarat Pipavav Port Ltd), one of the leading gateway ports in Western India reported 31% rise in consolidated net profit at INR 981.34 million for the fourth quarter of the year ended March 31, 2023 compared to INR 750.89 million in the corresponding period of last year. Revenue from operations for the fourth quarter under consideration stood at INR 2,347.28 million asagainstINR2,196.74millioninthecorrespondingperiod

MAWANI : Dammam added to MSC’s India to South Africa Service

RIYADH: The Saudi Ports Authority (Mawani) has announced the inclusion of Dammam to the India to South Africa freight route runbycontainergiantMSC.

The new weekly rotation, which kicked off in early May from King Abdulaziz Port, links Dammam to major hubs that include Mundra, Hazira, Nhava Sheva, Colombo, Port Louis, Durban, Khalifa, Jebel Ali, and Khalifa bin Salman on board five vessels with an average holding capacityof6,000TEUs. Cont’d. Pg. 23

Adani Group exploring $3-billion investment in Vietnam

HANOI:TheVietnamGovernmenthassaidAdaniGroup is exploring $3-billion investment in the country’s seaport ecosystemandwindandsolarenergyprojects Cont’d. Pg. 19

Q4FY22)

of last year. EBITDA for the quarter was at INR 1,299.44 millionasagainstINR 1,279.85 millioninQ4FY22. EBIDTA margin stood at 55.36% in Q4FY23 as against 58.25% in Q4FY22. Cont’d. Pg. 23

SHIPPING MOVEMENTS AT DEENDAYAL PORT

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS

LIQUID CARGO VESSELS

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI INTERNATIONAL CONTAINER TERMINAL (AICT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI CMA MUNDRA

PVT LTD (ACMTPL),

TO LOAD FOR U. K. NORTH CONTINENT, MEDITERRANEAN, BLACK SEA, RED SEA, EAST EUROPE &

CONTAINER

DUE / IN PORT FOR

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

OTHER PORTS OF GUJARAT

India took 60 yrs to become $ 1 Trn economy; can reach next trillion in next 2 yrs : WEF Chief

NEW DELHI: India took 60 years to become a trillion-dollar economy butitmayreachthenexttrillioninthe next two years, President of the World Economic Forum, Borge Brende hassaid.

The goal of reaching a trilliondollar economy has ridden on the back of India’s digitisation, which is a success story for the world, Borge added. He was speaking at a CIIsessioninNewDelhionMay25.

“The budget for digital infra increased by 25 percent from 2022 to 2023. This is on top of the increase in digital budget allocations over the pastseveralyears,”Borgesaid.

This digitisation has led to the creationof77,000startupsandseveral global unicorns, Borge said, adding, it was the Indians who earlier ran SiliconValleyandnowwehaveIndian

startupsinitsplacerulingtheworld.

Borge however cautioned that onlyhavinganopenpredictablepolicy for investments, away from red tape will help the country maintain the growthmomentum.

India was 1/23rd in data consumptionin2016buthasnowleapt to the first position,” Amitabh Kant, G20Sherpasaid.

Talking about India being the fastest-growing economy in the world, Kant added that it is in the last seven years that India built 40 million houses. “We have made 110 million toilets. We have made 230 million pipe-to-water connections. During covid we made 2.5 billion covidvaccines,”hesaid.

“India did in 7 years, what it would have required 50 years to do,” headded.

“If you look around the world, there are 133 countries which don’t have even a fast payment system,” Kant said. It is the digital transformation that has fuelled growthinIndia,hepointedout.

Digital transformation is India’s priority at G20 as well, “We do 46 percent of real-time payments of the world but need to make this more,”Kantsaid.

“G20 is also prioritising growth in the global economy, working on achieving sustainable goals and bringing women to the forefront of thisgrowth“,Kantsaid.

India recognises its responsibility for action against climate change, he said. “India has not contributed to carbonising the world, but we must be first to do our part in de-carbonisingit.”

India’s logistics sector to clock double-digit growth, but challenges galore

NEW DELHI: The logistics sector in India is expected to grow in double digits and reach $350 billion by 2025. The value of the Indian logistics sector was $250 billion in 2021. Growing at an impressive CAGR of 10-12 per cent, it may reach $350billionby2025.

The sector is a very significant source of employment generation, employing 22 million people in 2022, with the number of employees expected to grow by five per cent over the next five years. This was revealed in a concept paper by GS1 India, a standards organisation under the aegis of the Ministry of Commerce and Industry, Government of India, in collaboration with apex trade bodiesandkeyGovernmentagencies.

The concept paper also mentions the critical challenges faced by the Indian logistics sector and the potential for improvement and growth. As per the paper India currently spends 13-14 per cent of its GDP on logistics costs, compared to theglobalaverageofaroundeightper cent of GDP. This has created a competitiveness gap of $180 billion in 2020 that will widen to $500 billion by 2030. India ranked 42 on the Logistics Performance Index (LPI) for 2018, farbehinditsinternationalpeerssuch as Germany, the UK, Japan, Austria, ChinaandtheUnitedStates.

The paper points out that despite the growth and potential there are multiple challenges that confront the logistics sector in the country. Logistics costs in India account for

14 per cent of GDP, with 60 per cent direct costs and 40 per cent indirect costs, compared to an average of 10percentindirectcostsindeveloped countries. Logistics firms in India also face challenges due to a lack of visibility among trading partners and consumers, leading to supply disruptions and delays in the value chain. Besides this India is only in the early stages of process automation, lagging behind global practices that provide transparency and real-time datainsupplychainactivities.

The paper also points out that approximately 60 per cent of cargo is transported via road in India, while rail and water transportation account for a smaller share. This leads to high logistics costs and reduces competitiveness in exports. The Indian logistics segment also has to deal with poor physical infrastructure, including modal and terminal transport, national highways, freight train speeds, and port facilities and in turn hinders the growth of the logistics sector in India. The sector is also dominated by unorganised companies, leading to fragmentation, low margins, limited investments, and challenges in streamlining supply networks. At the same time the retail market is also largely unorganized, affecting the complexityofthesupplychain.

However, interestingly as per the Logistics Ease Across Different States (LEADS ) 2022 survey, states, such as Telangana, Punjab, Haryana, and Madhya Pradesh etc.,

have performed excellently andcould act as role models for other states to imbibe best practices and logistical development models. In terms of the quality of infrastructure, the states of Punjab, Uttar Pradesh, Haryana, and Telangana led the scoreboard. Madhya Pradesh has the largest warehousing capacity in the country while Gujarat and Karnataka lead in theroadinfrastructure.

Off late the government of India has launched the National Logistics Policy to create a trusted, reliable, cost-effective, resilient, and technologically equipped logistics ecosystem in the country for rapid growth and bridging the competition gap with global competitors which is aimed at reducing logistics costs: The policy aims to reduce logistics costs from 14-18 percent of GDP to eight percent by 2030, aligning with global best practices. As per the NLP the aim is to be the among the top 25 countries in the Logistics Performance Index (LPI) by 2030. The policy also aims to create a datadriven decision-support mechanism foranefficientlogisticsecosystem.

GSI recommends that the aim should be to eliminate data inaccuracies and inconsistencies in logistics operations, reduce logistics costs by enabling interoperability, simplifying processes, providing unique identification, harmonising information, reducing duplicity, and standardising information exchange besides implementing the National LogisticsPolicyeffectively.

Adani Group exploring $3-billion investment in Vietnam

Cont’d. from Pg. 4 “AdaniGroupwantstodevelopaseaport ecosystem as well as wind and solar energy projects in Vietnam, with a combined investment of $3 billion,” the Vietnamese governmentsaidinastatement.

Vietnamese Prime Minister Pham Minh Chinh receivedKaranAdani,ChiefExecutiveOfficerofAdani Ports and Special Economic Zons Ltd (APSEZ), in Hanoirecently.

Chinh briefed Karan Adani on Vietnam’s development orientations focused on three strategic breakthroughs, namelyperfectin.

Vietnam creates the best possible conditions for foreignbusinesses,includingthosefromIndia,toinvestin strategic infrastructure such as transport, energy, digital and climate change infrastructure, in the country, he stressed.

He noted that digital transformation to build a digital economy and digital society is an irreversible trend of the world at present, and Vietnam is not an exception. He expressed his hope that Adani Group would expand its investmentstronglyinthisfieldinVietnam.

Karan Adani said Adani Group is the leading economic groupinIndiaoperatinginmultiplefieldssuchasseaport, transportation, logistics, energy, and digital technology in morethan50countriesaroundtheworld.

Following the recent fact-finding tour, he said the conglomerate has decided to pour long-term investments in Vietnam, not only in seaports and logistics, but also in energyanddigitaltechnology.

AdaniGroupwishestobuildagreenseaportecosystem and invest in wind and solar power plants in Vietnam,

withatotalcapitalofabout$3billion,saidKaranAdani.

He assured his host that the conglomerate would soon work alongside relevant ministries and agencies of Vietnam to develop specific cooperation projects.

“Vietnam is willing to create more favourable conditions for India’s large companies, including Adani, to invest and do business in the country,” Chinh told Karan at the meeting, according to thestatement.

Chinh said Vietnam welcomed Adani’s investment, initially in Lien Chieu Port in the central city of Danang,accordingtothestatement.

Karan told Chinh that Adani would soon work with Vietnamese partners and stakeholders on specific investment projects in the country, according to the statement, which said the investment could reach $10billionoverthelongerterm.

Earlier this month, Adani Ports and Special EconomicZoneLtdsaidithascompletedthesaleofits Myanmar port Coastal International Terminals Pte Limitedfor$30million.

COSCO SHIPPING Lines and OOCL Fleets Improve Supply Chain Service Efficiency

BEIJING: The Shanghai Shipping Exchange (SSE) recently released the Global (Main Trades) Carrier & Alliance Schedule Reliability Index for April. The schedule reliability of operation efficiency of COSCOSHIPPINGLinesandOOCL,whicharebrands under COSCO SHIPPING, reached 77% and 71% respectively, ranking No.1 and No.2 among major carriers. Both have maintained their industry-leading positionsinthisindexforseveralmonths.

In recent years, COSCO SHIPPING has given full playtothecoordinationbetweenitscontainershipping and ports business, focusing on improving the direct connection rate and operation efficiency of the two

brandsinitsterminalstoeffectivelyimprovethequalityof theitslinerservice.

COSCOSHIPPINGLineshascontinuedtopromoteits IOP (Improvement of Operation Productivity) project. Through the information interconnection between its container shipping and ports business, it can utilize the system to track the dynamic information of ports and terminals so as to improve the operation efficiency of the fleet in port and the accuracy of berth arrangement. Employing system monitoring and manual support, it can continuously improve the direct arrival rate and ship berthing efficiency, cut the time a ship spends in port, and release more time for navigation to improve the fleet operation efficiency, service stability, and ship schedule reliability.

SMP Kolkata plans to invest Rs 4,000 cr by 2030 to expand capacity : Chairman

KOLKATA: The Kolkata Port, now known as Syama Prasad Mookerjee Port, is planning to invest Rs 4,000 crore by 2030 to expand cargo handlingcapacityto130milliontonne, its Chairman Rathendra Raman said recently The port can now handle 87 million tonne of cargo and hadpreviouslysetatargettorampup the capacity to 110 million tonne by 2030.

“One of my key priorities is to maintain double-digit growth, profitability and transforming the port into a green one To ensure sustainedgrowth,wewillincreasethe total cargo handling capacity to 130 million tonne and will invest Rs4,000crore,”Ramantoldreporters here.

He outlined 11 upcoming projects aimed at modernising and enhancing the infrastructure in phases to

achievethegoal.

During the 2022-23 fiscal, the port handled 65.66 million tonne of cargo and anticipated a 13 per cent growth inthecurrentfinancialyear

Notably,theportachievedarecord net surplus (profit) of Rs 304 crore in FY’23.

In a bid to reduce congestion and pollution in the city, the port has acquired a Rs 450-crore outgate dock facility spread across 300 acre of land in Hooghly district’s Balagarh, situated 85 km upstream on the HooghlyRiver

He said that Rs 98 crore has already been allocated for basic infrastructure development, and the port plans to pursue a public-private partnership (PPP) project with an investortomanageportactivities.

The Balagarh facility is expected to be a mixed-use port, capable of

handling 1.6 million tonne of coal and 85,000containers.

With the successful trial run of a cement cargo to the north-east through Myanmar’s Sittwe Port, Kolkata Port authorities are expecting “better cargo handling” for theNEregiontoNorthEastinfuture.

The cargo was flagged off from Kolkata in May 4 and received at the Sittwe Port on May 9 by Union Shipping Minister Shri Sarbananda SonowalandDeputyPrimeMinister and Union Minister for Transport & Communications of Myanmar, AdmiralTinAungSan.

Theportauthoritieshaveengaged a consultant to conduct a feasibility study for a new tunnel under the Hooghly River for the transportation of vehicles, he said, adding that the under-river tunnel project is still in thenascentstage.

Dedicated Freight Corridor achieves milestone of running 1 lakh trains

NEW DELHI: Dedicated Freight Corridor (EDFC) achieved a milestone of running one lakh trains with Member Operations and Business Development at Railway Board, Jaya Varma Sinha, flagging off the 100,000th train running on the Corridoralignment.

ThefirsttrainontheDFCnetwork was flagged off by Prime Minister NarendraModionDecember12,2020.

Till now 55,332 trains have been operated on the Eastern Dedicated

FreightCorridor(EDFC)while44,658 trains on the Western Dedicated Freight Corridor (WDFC), DFC said inastatement.Asoftoday,2089Route KM — 73.5 per cent of the DFC has been commissioned, it said, while addingthatDFCalignmentexceptfor Jawaharlal Nehru Port Trust (JNPT) connectivity is expected to be commissionedbyDecember2023.

“With the commissioning of the New Dadri – New Rewari section, freight transportation can be

seamlesslydonefromthehinterlands of Uttar Pradesh to the Western ports of India,” the release said. DFC is a vital initiative under the National Logistics Policy and is aimed at reducing the cost of logistics from 15 per cent (approx.) of the country’s GDPto8percentby2030.

The freight infrastructure capacity augmentation by DFC is crucial in achieving the Indian Railways’ target of 3000 million tonne freightloadingby2030.

Largest Container Ship in the World calls on Port of Antwerp-Bruges

ANTWERP: The Container ship MSC Loreto arrived at the port of Antwerp last night to load and unload containers at the MSC PSA European Terminal (MPET) at the Deurganckdock. It is the newest largestcontainershipintheworld.

The ship can carry 24 346 TEU (20-foot containers). It is not only the largestshipevertocallattheport,itis currently the largest container ship in theworld.AtitleitshareswithitssistershipMSCIrina.

The ship started her maiden voyage from Ningbo (China) on 19 April and will depart for Felixstowe (UK) on 28 May. It is 400 metres long, 61 metres wide and has 25 crew members. The ship transports a wide range of goods from raw materials to finished products, such as machinery,plastics&rubber,electronics,furniture...

PortofAntwerp-Brugesisorganisingfivetourstoview the MSC Loreto from the water on Saturday 27 May. All750seatswerebookedinjustafewhours.

Jacques Vandermeiren, CEO, Port of AntwerpBruges: "Calls by record ships at our port continue to capture the imagination. So today we are proud to welcometheMSCLoreto.Thisdemonstratesthatourport can receive the largest container ships. This positions Antwerp well for further increases in scale. It is our ambitionasaporttocontinuetogrowinasustainableway,

with a firm finger on the pulse of the globaleconomicsituation."

AnnickDeRidder,Vice-Mayorof theCityofAntwerpandPresidentof the board of directors of Port of Antwerp-Bruges: "As a world port, our port is the economic engine of Flanders. With a world port comes a world record. With the MSC Loreto welcoming not only the largest ship ever to call at the port, it is currently the largest container ship in the world. With a record ship comes performing infrastructure. We therefore ensure that the largest ships can continue to be handled at the terminals. Record ships also need sufficient container capacity. Additional container capacity Antwerp remains an absolute prioritytokeepplayingatthetoplevelofworldports."

Marc Beerlandt, CEO, MSC Belgium: "The interest in the arrival of the new record ship the MSC Loreto confirms that the activities in the port of Antwerp still capture the imagination of the general public! This pleases MSC enormously and shows that the choice of Antwerp as a European hub is definitely the right one. The commitment of our MSC people, the productivity of the Antwerp dockers, the support of the industrial fabric inside and outside the port area, the excellent cooperation with the Port of AntwerpBruges port authorities create an excellent support base for furtherdevelopmentsofourcompany."

PSA acquires stake in Sotrans Group, A leading Logistics Provider, Forming a strategic partnership with ITL Corporation

SINGAPORE:

PSA International Pte Ltd (“PSA”) has through its fully-owned subsidiary, PSA Cargo Solutions Vietnam Investments Pte Ltd, acquired a strategic minority stakeinSOTRANSGroup(“STG”)alsoknownasSouth Logistics Joint Stock Company from Indo-Trans Logistics(“ITL”).

Established in 1975, STG is a leading logistics provider in Vietnam, well-known for providing reliable and efficient supply chain solutions. STG has 3 main pillars of business within the group, each held by a subsidiary company: (I) ports/inland container depots (ICDs)andbarging;(ii)freightforwardingandcontract logisticsand(iii)transportationofheavyliftandproject cargo.

The partnership between PSA and ITL leverages STG’s strong presence in Vietnam with its local expertiseinlogistics,ports,barging,andprojectcargo, and PSA’s global network of deepsea, rail and inland terminals, affiliated businesses in distriparks, warehouses, logistics and marine services, comprehensive suite of digital solutions as well as globalexpertiseinend-to-endsupplychainservices.

Mr Tan Chong Meng, Group CEO of PSA International, said, “This latest venture into Vietnam strengthensournetworkintheregionandisinlinewith our aspiration to be a global supply chain orchestrator and enabler of sustainable trade. With its strong fundamentals and robust growth potential, Vietnam is poised for further economic expansion and we are glad to be ableto work with like-minded partners to broaden and deepen our involvement in the country with this latest collaboration. It reaffirms our commitment to better service cargo owners in the region through differentiatedandinnovativevalue-addedsupplychain services.”

Mr Ong Kim Pong, Regional CEO Southeast Asia, PSA International, added, “PSA is pleased to partner ITL, a renowned and well-established logistics service provider, as we expand our Node-to-Network strategy in Southeast Asia, with Vietnam being one of our key markets. STG serves as a Port+ differentiator and this strategic collaboration enables both companies to leverage synergies and further strengthen our position to deliver a stronger value proposition to our customers. Together, we can orchestrate resilient and sustainable supplychainsolutionstomeettheirdynamicneeds.”

Mr Zulkifli Bin Baharudin, Executive Chairman of ITL, said, “PSA’s acquisition of a strategic stake in SOTRANS represents confidence in ITL and is an opportunity for us to leverage on PSA's global network to maximise the growth potential of Vietnam's port and maritimeindustry.”

MrBenAnh,CEOofITL, added,“ITLisverypleased to have PSA as a strategic partner with SOTRANS to develop our port and logistics to become the national champion. With this partnership with PSA, a longestablished, leading port operator with strong network in the world, SOTRANS will strengthen its position and we are confident that we can provide better services and connectivityforourcustomersinVietnamtotheworld.”

Union Minister – MoPSW visits Indian Register of Shipping in Mumbai

MUMBAI: Union Minister for Ports, Shipping & Waterways and AYUSH, Shri Sarbananda

Sonowal, visited the Indian Register of Shipping (IRS) Head Office at Mumbai recently and took a reviewoftheorganisation.

Ontheoccasion,heinteractedwith officials at various levels in the organisation. During his discussion with the Rule and Research & Development team of IRS, he tried to understand various aspects of research projects. The green

initiatives taken by IRS in reducing greenhouse gas emissions towards meeting International Maritime Organisation climate goals were appreciated by the Minister.

ShriSonowalalsotookkeeninterestin understanding environmental impact of shipping and how IRS is supporting design and operational methodologies

using advance technologies.

During his address to IRS officials, he laid great stress on adoption of technology,addingacaveat that such advancement should not be at the cost of ecologyandenvironment.

Shri Sonowal further congratulated the IRS team on achieving global recognition and a strong fleet growth. He said that the contribution of IRS in last 48 years is praiseworthy. He also urged IRS to continue to take a greater role in development of maritime ecosystem intheCountry.

India's export share in Global Trade in Pharma, Gems and Jewellery, Footwear dips in 2022: GTRI

NEW DELHI: Share of India's exports in the world trade in sectors such as pharma, gems and jewellery, leather, and footwear declined in 2022 as compared to 2015, according to a report by think tank GTRI. However, there is an increase in the share of electronics, machinery, petroleum, auto parts, iron and steel, and aluminium products' exports during theperiod.

"India's global market share in sectors like apparel, leather, shoes, and marine products has been decreasing, primarily due to concerns over quality rather than pricing issues," Global Trade Research Initiative (GTRI) Co-founder AjaySrivastava said. The report said that the key sectors that witnessed a higher share in global trade are electronics, telecom, mobile phones, and electrical equipment, as well as machinery.

This is noteworthy as these product groups hold substantial importance in world trade, which exceedsUSD6trillion.

India's historically low share in these sectors is gradually but decisivelyimproving,Srivastavasaid.

"In 2022, India's share in global

merchandisetradestoodat1.8percent. However, its share in machinery and electronicswasamere0.75percentand 0.4 per cent, respectively in 2015. Over the course of seven years, there has been a marginal yet significant improvementintheseshares,"itsaid.

The report also stated that quality issues are not limited to pharmaceuticals but also affect Indian aquaculture products, such as shrimp and prawns. Many countries reject these products due to the presence of salmonella (a kind of bacteria), highlighting the need for a robustinternalsystem.

It added that ensuring thorough quality checks within India will prevent rejections in foreign countries, which tarnish the reputation of Indian products and leadtolossoforders.

Quality issues have also impacted Indian tea exports, with reports of countries holding consignments of Indian teas citing phytosanitary issues and presence of pesticides exceedingpermissiblelimits,itsaid.

"The industry must tackle quality challenges across various sectors to regain market share and maintain a positiveperceptionglobally,"itsaid.

Thereportsaidthatthereputation and orders of the pharma industry can be severely impacted by a single instanceofpoor-qualitycoughsyrup.

To maintain its position as the pharmacy of the world, India must prioritize addressing quality issues, it said adding reducing critical dependence on imports of Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs) fromChinaisessential.

ShareofIndia'spharmaexportsin theworldtradedippedto2.25percent in2022asagainst2.79percentin2015.

Share of gems and jewellery dropped to 4.74 per cent in 2022 as against7.47percentin2015.Similarly, theshareoffishandcrustaceans;and leather items dipped to 4.52 per cent and 2.92 per cent in 2022 as against 4.77 per cent and 3.65 per cent, respectivelyin2015,itsaid.

On the other hand, share of India's automobiles and parts' exports in the world trade increased to 1.32 per cent in2022asagainst1.11percentin2015.

Similarly, share of iron and steel; and aluminium products rose to 2.66 per cent and 3.55 per cent in 2022 as against1.98percentand1.69percent, respectivelyin2015,itadded.

Snowman Logistics records annual revenue of INR 417.65 crores

BANGALORE: Snowman Logistics closed FY22-23 on a positive noteasitclockedinannualrevenueof INR 417.65 Crores as against INR 286.17 Crores during the previous year. There was a significant increase in the EBITDA and PAT as well. EBITDA increased to INR 96.07 Crores from INR 73.79 Crores and PAT increased to INR 13.40 Crores from INR 1.68 Crore during the previousyear.

Elated with the performance of the company Sunil Nair, CEO, Snowman Logistics Limited stated

that the company is happy with the results. He further added that the company is looking forward to continuingitsexpansionthisyearand further increasing the share in customerdemand.

Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited commented that the company has witnessed a significant increase in the demand for highquality infrastructure and service providers in the cold chain industry throughout various regions in India. Most of the facilities of the company

areconsistentlyrunningatmaximum capacity. As a response to this growing demand, the company will continue to expand its cold storage capacities,headded.

Snowman Logistics has started offering5PLanddistributionservices to its customers with long-term commitments. Additionally, the company recently inaugurated a new warehouse at Shoolagiri, Tamil Nadu, a 50K sq ft facility that has a pallet holding capacity of 4,500. It is the first dry warehouse of the company dedicatedtothechemicalsegment.

APM Terminals Pipavav consolidated net profit rises 31% to INR 981.34 million in Q4FY23 (INR 750.89 million Q4FY22)

Cont’d. from Pg. 4 For the financial year ended March 31, 2023, the Company reported net profit of INR 3,138.15 million, growth of 59% compared to INR 1,976.85 million in FY22. Revenue for the fiscal year stood at INR 9,169.50 million as against INR 7,413.65 million last year.

The container cargo business for the quarter stood at 199,000 TEUs, showing a robust growth of 22% YoY. Drybulkvolumewas0.69MlnMT;liquidvolumehandled was 0.28 Mln MT; while 14,900 units were handled under RoRo category. The Port handled 489 container trains during the quarter as against 469 handled in Q4FY22. For the full year, container cargo business grew 22% to 764,000TEUs.

MAWANI : Dammam added to MSC’s India to South Africa Service

Cont’d. from Pg. 4

It also marks the twelfth such shipping service to call at the Kingdom’s ports since the beginning of the year, an achievement rooted in Mawani’s endeavorstoboostthecountry’smaritimeconnectivity with the rest of the world besides strengthening the nation’s competitive position as an all-inclusive logistics hub in tandem with the ambitions set by the National Transport and Logistics Strategy (NTLS). AsshippinglinesincreasinglychooseSaudiArabiaasa regularstopfortheircargolinks,theKingdomwasable to secure its highest score to date on UNCTAD’s Liner Shipping Connectivity Index (LSCI) during Q4 2022 at 71.33 points. With the addition of yet another key shipping connection to its network, the Arabian Gulf port continues to consolidate its credentials as a state-of-the-art maritime facility equipped with modern capabilities and cutting-edge technologies.

Freshoffarecord-breaking2022,theDammambasedhub created history once again last March by handling 18,533TEUsaboardasingleship.

biz@nfguj.com