GUJ-30-05-2024

GMB : Non-Major Ports mark record-high cargo volumes during 2023-24

GANDHINAGAR: Ships and merchant vessels, that docked at Non-Major Ports in Gujarat, transported a “record” 4,483 lakh tonnes of cargo, during financial year 2023-24 Thisisanincreaseof8percentcomparedtothepreviousyear

Data sourced from Gujarat Maritime Board (GMB), the Gujarat government’s nodal agency for ports, show that previous high was clocked during the pre-Covid era - 2019-20 - when these minor ports in the state registered cargo volumes of over 4,120 lakh tonnes. However, most of this growth in cargo volumes,

emanates from private ports in Gujarat. These private ports which include those located in Mundra, Pipavav, Dahej and Hazira registered a 14.4 per cent growth in cargo volumes A total of 2,475 lakh tonnes of cargo, was handled by private ports during 2023-24. The previous year, these ports handled 2,163 lakh tonnes of cargo.

Exports from private ports grew by 19 per cent to 685 lakh tonnes in 2023-24 from 575 lakh tonnes the previous year Similarly, imports too grew 13 per cent to 1,790 lakh tonnes from the earlier 1,588 lakh tonnes.

APSEZ creates history of berthing largest Containership at Indian Port

MUNDRA: Adani Ports and Special Economic Zone Ltd (APSEZ) has said its flagship Mundra Port has created yet another record by welcoming the largest container ship to call at an Indian port.

The vessel, MSC Anna, docked on May 26 at Mundra Port

MSC Anna is a huge vessel with an overall length of 399.98 m (roughly the length of four football fields) and a staggering capacity of 19,200 TEUs (twenty-foot equivalent units), which makes it the largest container ship by capacity to ever visit an Indian port, APSEZ said in a statement.

Central Govt targets Rs 10,000 crore from monetisation of Ports in FY25

NEW DELHI: With the aim of increasing the share of public-private partnership (PPP) in ports, the Centre will look to monetise assets worth Rs 10,000 crore in 2024-25 (FY25), according to multiple sources familiar with the developments.

The Ministry of Ports, Shipping and Waterways has submitted a monetisation pipeline of Rs 10,000 crore, consisting of five-seven projects, to NITI Aayog - the central thinktankandnodalGovernmentbodyforassetmonetisation - according to a Senior Government Official. Cont’d. Pg. 17

APSEZ creates history of berthing largest Containership at Indian Port

Cont’d. from Pg. 4

Its arrival draft is 16.3 m, which can be accommodated only at Adani Ports, Mundra, as no other port in India is capable of berthing a deep-draft vessel, it added.

In July 2023, Adani Ports, Mundra created a record by berthing MV MSC Hamburg, one of the longest container ships in the world, with overall length of 399 m and

capacity of 16,652 TEUS.

Further, the statement said its container terminal CT-3 reached a significant milestone by becoming the first in India to manage 3 milion TEUS in a year.

The terminal also achieved a monthly handling record of over 3,00,000 TEUS in November, the highest ever by any terminal in India.

Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group.

Allcargo Logistics announces Q4FY24 results; Reports 99 Cr EBITDA

Quarterly revenue grows 6% QoQ to Rs. 3,398 Cr

MUMBAI: Allcargo Logistics Limited has announced its financial results for the quarter ended March 31, 2024.

Key highlights:

• International Supply Chain business is witnessing green shoots of growth expected in second half of 2024. Freight rates have started increasing despite an additional supply of 1 million TEUs in container shipping capacity in 2024.

• ECU Worldwide had a flat quarter compared to the previous quarter and we expect momentum to start building from April leading to the improvements in September and December quarters. LCL volumes reduced marginally QoQ from 2.16 million CBM to 2.12 million CBM, while FCL volumes witnessed a marginal increase from 152K to 156K TEUs.

• Cost reduction is offset by severance costs to an extent, but severance costs will be concluded by

August and hence cost reduction will help manage annual increments to control SG&A and drive bottom-line growth.

• Contract Logistics business remained near flat and the company ASCPL reported an EBITDA of 32 Cr in Q4FY24.

• Express business has seen significant improvement on the back of cost reduction, which has improved every month until March, providing healthy exit rates on operating costs Gati's consolidated EBITDA increased from 11 Cr in Q3 to 14 Cr in Q4FY24 representing 21% increase.

• The focus remains strong on technology projects and GEMS 2 0 is progressing as per schedule in Gati, and various system roll outs are on schedule in ECU Worldwide including new financial ERP.

Port of Antwerp-Bruges : Transforming 88-hectare site into NextGen District

NextGen Demo: first concessionaires

ANTWERP: Port of Antwerp-Bruges is transforming an 88-hectare site in Antwerp into the NextGen District. The ambition is to make it a hotspot for circular economy Global pioneers have already signed up for a concession at the site.

The site itself also includes space for the NextGen Demo. In this cluster in the heart of Antwerp’s industry, demonstrators will be able to test their new technologies and circular demo projects that have outgrown the lab.

Start-ups and scale-ups, spin-off companies and pilot projects can test their projects here on a larger scale before launching them on a commercial footing.

NextGen Demo aims to be an innovation hub that acts as a catalyst for sustainable innovations involving raw materials and the energy transition.

Thanks to the industrial port network of top global players in Antwerp, NextGen Demo, NextGen District and the other companies in the port area can work closely together.

NextGen Demo gets its rst concessionaires

Power to Hydrogen and TripleW were the first to sign up for NextGen Demo. They have chosen to test their innovative circularity and energy transition projects within the port environment and by doing so, these companies are taking an important step in the transition

to a climate-neutral society. NextGen Demo will provide space for 8 to 10 demonstrators.

Power to Hydrogen aims to accelerate the transition to a green hydrogen economy by means of AEM (Anion Exchange Membrane) electrolysis, in the hope of drastically reducing the cost price of producing green hydrogen. The technology has not yet been applied on an industrial scale When they install the electrolysis system for the NextGen Demo Project in the fourth quarter of 2024, it will be the largest of its kind in the world. The project is receiving financial support from global utility companies, including American Electric Power, EDP , E.ON and ESB, as part of the Free Electrons innovation programme for utilities.

TripleW developed an industrial process to produce lactic acid made entirely from food waste. By scaling up this project, the foreign investor, which has been active in Belgium for some time now, has once again chosen Belgium. The high-quality lactic acid serves as a raw material for biodegradable plastics and biochemicals. TripleW’s project in NextGen Demo aims to demonstrate the scalability and adaptability of lactic acid and expand its use to include a wider range of food waste streams and end-products. The project is scheduled to start in the fourth quarter of 2024.

YOUR QUERIES - OUR SOLUTION

by Dr. Pramod Sant, A distinguished Industry Expert

Question: We are new to global commerce, and we wish to understand What is importer of Record? Who can be IOR? Under which situation IOR is used?WhatareIORservices?

SOLUTION: In the world of global trade, there are two terms that play a significant role in ensuring successful cross-border transactions: IOR (Importer of Record) and EOR (Exporter of Record). These terms are essential for maintaining the flow of goods between countries without complications.

This allowed importers to focus on their core business activities while external contractors (IOR) handled customs compliance and logisticscomplexities

Roles and responsibilities of anIOR

Below chart will give complete details of Roles and responsibilitiesofIOR.

In below article I will provide a comprehensive understanding of IOR, their functions, and their importance in facilitating smooth international businessoperations.

Whatisanimporterofrecord?

Importer of Record (IOR) refers to the legal entity or individual that takes legal responsibility for importing goods into destination or importing country In International Trade, the IOR is responsible for complying with all Customs, Taxes, and Import Regulations in the destination / Importing country. IOR is Temporary owner of goods while being imported.

HistoryofIOR?

When International Trade became more complex, and countries began implementing strict customs and regulatory requirements, use of IOR has increased

Dr. Pramod Sant

The Risks of not having IOR? Who can

YOUR QUERIES - OUR SOLUTION

by Dr. Pramod Sant, A

distinguished Industry Expert

Cont’d. from Pg. 7

When youneed IOR?

In global business need of IOR is required under manyscenarios,someofthemare

1. Many companies do not have locally registered entity or even physical presence in Importing (Destinations)Country

2 In cases where local entity is existing in Import Countrybutnotsetupforimports.

3. Localentityhaslimitedpresenceanddonotwant to handle operations and risk associated with Customs and other regulations related with Importing.

4 Laws in Importing Countries are complex and companiesdonotwishtohandlesame.

5. Customer / Consignee in Importing Country refuses / not willing to handle customs formalities.

6 Handling global distribution using regional hub and IOR is better combination when dealing with large number of countries Using hub for warehouse and distribution at Singapore / D u b a i a n d

b u s i n e s s i n

m u l t i p l e countries using IOR.

7 Wish to expand export / trading business in Import countries however not having bandwidth for customs/ regulation handling or marketing Typical exampleisE-Commerce.

Using IORservices

Companies around the world offer various IOR services for a range of industries. Many IOR services

specialize in one aspect of IOR responsibilities. For Examplematerial for clinical trials

Some of them specializes in specific countries (particularly US, Canada etc ) However, there are a few companies that provide end-to- end solution.SomestepstoselectIOR.

a) Needidentification–Country,products,volume

b) Identifyingpotentialsupplier(IOR)

c) AssessmentandselectionofIOR

d) Information sharing – Products, Volume, Countries, Scope, Frequency of Shipments, GoodsCountryofOriginetc

e) Contract and legal documentation – In addition to contract some countries may require Power of Attorneyetc

f) WorkwithIOR,monitorperformanceandreview

g) Continuousimprovements

If you wish to export products in country where you havenoestablishment,youhavefollowingchoices.

Fulfillment By Amazon (FBA) is good example of E-Commerce Export using Amazon selling and IOR. With FBA sellers / exporters are required to ship their products to Amazon warehouses Amazon handles everting in US and delivers the order to the customer.

IhopeyouhavegotanusefulinsightonIOR.

India’s economic momentum to remain strong post-election: S&P Global Market Intelligence

M U M B A I : T h e I n d i a n gover nment's capital spending, recovery in private consumption and investment are expected to help carry forward the economic momentum post-elections, S&P Global Market Intelligence said

The global research firm further noted that policy focus will likely remain on strategic sectors, like renewables, e l e c t r o n i c s , t e x t i l e s , d i g i t a l i n f r a s t r u c t u r e , l o g i s t i c s , f o o d production and services.

“These sectors drive Indian macroeconomic stability and growth, are of relevance to climate policy and energy transition, and support domestic employment. The parties also widely consider further development of these sectors to be beneficial for India’s foreign policy objectives,” it said.

S&P Global Market Intelligence

expects inflation to ease to 5.3% in 2024 from 5.7% in the previous quarter

The firm further pointed out that if the present dispensation (NDA) secures a two-thirds parliamentary majority on June 4, the focus will be to ensure India becomes the third-largest economy by 2030 and bring down its fiscal deficit to 4 5%ofGDPbyFY26

I n i t s i n t e r i m b u d g e t , t h e government set a fiscal deficit target of 5.1% for FY25.

“Expanding the use of technology in government services and across the private sector is also very likely Proposed legislation to regulate the use of personal data and domestic digital infrastructure, and on the use of artificial intelligence (AI) systems, will, therefore, increase in both Modigovernment scenarios,” it said.

S&P Global also noted that the role

of “national champion” firms in strategic sectors is also likely to be emphasised with the likelihood of project-specific ad hoc exemptions increasing.

However, it said that the focus will pivot towards social welfare if NDA falls short of a special majority

“A weaker parliamentary mandate would imply more focus on central g o v e r n m e n t - l e d s o c i a l w e l f a r e provisions,” it noted.

The report also pointed out that cooperation with states will likely increase under such a scenario.

In the case no party can secure a majority by itself, S&P Global predicts policymaking becoming decentralised with chances of a substantial cabinet reshuffle and prolonged negotiations for a 100-day program to drive the agenda of coalition partners.

Dr. Pramod Sant

Cargo Steamer's Agent's ETD

Jetty Name Name

CJ-I Nord Vind Interocean 02/06

CJ-II East Wind Shaan Marine 04/06

CJ-III Arcola Interocean 31/05

CJ-IV Nav Anya Samudra 01/06

CJ-V Kouros Queen Benline 02/06

CJ-VI Gift Genesis 01/06

CJ-VII CSSC Rotterdam James Mackintosh 06/06

CJ-VIII VACANT

CJ-IX Nazia Jahan Arnav Shpg. 31/05

CJ-X DSI Pegasus Taurus 02/06

CJ-XI VACANT

CJ-XII D Queens ULSSL 31/05

CJ-XIII Coresky OL Mihir & Co. 04/06

CJ-XIV Golden Glory Mihir & Co. 03/06

CJ-XV Seacon 8 Interocean 01/06

CJ-XVA Wadi Feran BS Shpg. 02/06

CJ-XVI Xin Hai Tong 35 BS Shpg. 31/05

TUNA VESSEL'S NAME AGENT'S NAME ETD

Anglo Marie Louise Avantika 31/05 One Ocean Avantika Shpg. 31/05

OIL JETTY VESSEL'S NAME AGENT'S NAME ETD

OJ-I VACANT

OJ-II Chem Lithium Samudra 31/05

OJ-III Stolt Larix JMBaxi 31/05

OJ-IV Anikitos Interocean 31/05

OJ-V VACANT

OJ-VI Sanman Sitar Malara Shpg. 31/05

OJ-VII Caroline

SSF Dream (UIG) 27/05 Abu Dhabi

Yasa Sapphire 27/05

TCI Express 28/05 Manglore/ Cochin/Tuticorin

Hasna Europe 28/05 Jebel Ali AS Alexandria 29/05 Jebel Ali Oriental Gerbera 29/05 Rotterdam

VESSELS IN PORT & DUE FOR EXPORT LOADING

02/06 Atriculate DBC

CJ-XIV Golden Glory Mihir &

Stream Ey Haydn Aditya Marine

Stream Haj Abdalllah T DBC

Stolt Larix JMBaxi

Wadi

2024031297

2024051335

02/06 African Egret Synergy Montevideo 32,999 CBM Pine Logs 2024051321

Tuna Anglo Marie Louise Avantika

31/05 Anna Theresa Arnav Shpg.

CJ-III Arcola Interocean Ras Al Khair

Stream BBG Baise Benline

CJ-VII CSSC Rotterdam James Mackintosh USA

CJ-XIII Coresky OL Mihir & Co.

CJ-X DSI Pegasus Taurus

CJ-II East Wind Shaan Marine Russia

CJ-VI Gift Genesis

CJ-V Kouros Queen Benline

Tuna One Ocean Avantika

02/06 Pomone Taurus

CJ-XV Seacon 8 Interocean

Stream Seagull Dariya Shpg. Indonesia

Stream Star Crimson Benline

Stream Star Triumph Dariya Shpg.

CJ-XVI Xin Hai Tong 35 BS

2024051277

T.Dark Dap In Bulk 2024051296

2024051236

2024051269

Pine Logs 2024051306

2024051271

2024051225

2024051283

2024051264

2024051276

2024051307

2024051268

2024051337

2024051220

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

Llyod

In Port Seaspan Amazon (V-4317W) Hapag Llyod Nhava Sheva In Port TS Hongkong (V-24001E) TS Lines Nhava Sheva 01/06 SC Mara (V-24021) X-Press Feeder Sohar

DP WORLD MUNDRA

SOUTH AFRICAN PORTS

LOAD FOR FAR EAST JAPAN, CHINESE PORTS

Nicoletta 422E 4041800 X-Press Feeder Sea Consortium Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 03/06 Maersk Line Maersk India Ningbo, Tanjung, Pelepas, Port Kelang (NWX)

TBA Asyad Line Seabridge Marine Haiphong, Shekou, Laem Chabang, Port Kelang (FEX1)

TBA Asyad Line Seabridge Marine Haiphong, Laem Chabang, Jakarta (FEX) TO LOAD FOR INDIAN SUB CONTINENT

30/05 —/— Maersk Karun 421W 4041797 Maersk Line Maersk India Tema, Lome, Abidjan (MW2 MEWA)

TBA Asyad Line Seabridge Marine Karachi (REX)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

30/05 Maersk Karun (V-421W) 4041797 Maersk India Nhava Sheva

30/05 SM Neyyar (V-421) Maersk India Jebel Ali

30/05 Beijing Bridge (V-2403) 4051860 MBK Logistix Nhava Sheva

4041810 Maersk India Jebel Ali

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL

PIPAVAV PORT

31/05 30/05-1800 Maersk Seletar 421W 24179 Maersk Line Maersk India Algeciras

06/06-1800 Maersk Hartford 422W 24182

Hangzhou Bay 055E 24170 ONE ONE (India) Port Kelang, Singapore, Haiphong, Cai Mep, Pusan, Shahghai, 30/05 06/06 06/06-0700 MOL Creation 092E 24178 HMM / YML HMM(I) / YML(I) Ningbo, Shekou (PS3)

10/06 10/06-1700 One Commitment 065E 24190

01/06 31/05-1800 Aka Bhum 021E 24175 COSCO / OOCL COSCO Shpg./OOCL(I) Port Kelang, Singapore, Hong Kong, Shanghai, Xiamen, Shekou. 02/06 02/06 01/06-1900 Torrance 27E 24172 Gold Star / RCL Star Shpg/RCL Ag. (CIXA) 03/06

13/06 12/06-1800 OOCL Luxemburg 110E 24191

03/06 02/06-2100 San Francisco Bridge 072E 24177 X-Press Feeders Merchant Shpg. Port Kelang, Singapore, Laem Chabang. 04/06 04/06 04/06-0900 X-Press Antlia 24003E 24184 ONE ONE (India) (TIP) 05/06 04/06 04/06-1400 Beijing 102E 24189 COSCO COSCO Shpg. Singapor, Cai Mep,Hongkong, Shanghai,Ningbo,Shekou, Nansha (CI1) 05/06

05/06 05/06-0500 AP Moller 423E 24187 Maersk Line Maersk India Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 06/06 12/06 12/06-0500 X-Press Odyssey 424E X-Press Feeders Merchant Shpg. Ningbo, Tanjung Pelepas. (NWX) 13/06 Sinokor / Heung A Sinokor India Port kelang, Singapore, Qindao, Xingang, Pusan TO LOAD FOR WEST ASIA GULF, RED SEA & EAST AFRICAN PORTS

31/05 30/05-1800 Maersk Seletar 421W 24179 Maersk Line Maersk India Salallah, Port Said, Djibouti, Jebel Ali, Port Qasim. (MECL)

31/05 31/05-1000 SM Neyyar 0421E24180 Maersk/GFS Maersk India/GFS Jabel Ali, Dammam (SHAEX)

04/06 04/06-0300 Seaspan Jakarta 0422E24183

TO LOAD FOR INDIAN SUB CONTINENT PORTS & COASTAL SERVICE

In Port —/— SSL Bharat 155 SLSSLS Hazira, Cohin, Mangalore, Tuticorin, Mundra. (PIC 1)

01/06 31/05-1800 Aka Bhum 021E 24175 COSCO/OOCL COSCO Shpg./OOCL(I) Colombo. (CIXA)

03/06 02/06-2100 San Francisco Bridge 072E 24177 X-Press Feeders Merchant Shpg. Muhammad Bin Qasim, Karachi, Colombo.

24184

03/06 03/06-1200 SCI Chennai 2405 24185 SCI J M Baxi Mundra, Cochin, Tuticorine. (SMILE)

05/06-0500 AP Moller 423E 24187 Maersk Line Maersk India Colombo. (NWX)

06/06 06/06-1700 SM Manali 0042 24186 CCG Sima Marine Hazira, Mangalore, Cochin, Colombo,

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

m.v. “MSC LUCY” Voy : XA421A

I.G.M. NO. 2377953 Dtd. 25-05-24 Exch rate 86.02

The above vessel has arrived on 24-05-2024 at MUNDRA PORT with Import cargo from ANTWERP, HAMBURG, LE HAVRE.

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

MUNDRA PORT SEZ

The above vessel has arrived on 24-05-2024 at MUNDRA PORT with Import cargo from LIVERPOOL.

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

GANDHIDHAM

The above vessel has arrived on 24-05-2024 at MUNDRA PORT with Import cargo from ANTWERP, HAMBURG, LE HAVRE

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

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 24-05-2024 at MUNDRA PORT with Import cargo from ANTWERP, BREMERHAVEN, HAMBURG, LE HAVRE, LONDON GATEWAY PORT, LIVERPOOL, PORTBURY, TEESPORT, DUBLIN, CORK, RIGA.

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

MUNDRA

37 DEDUS0000029828

38 HBL0424005A

39 HBL0424006A

40 MEDUEI767439

41 MEDUEI847199

42 MEDUEI827589

43 MEDUO6620977

44 MEDUAX761417

45 MEDUAX766598

46 MEDUAX734943

47 MEDUAX701751

48 MEDUAX787867

49 MEDUAX600797

50 MEDUAX725545

51 MEDUAX788667

52 MEDUAX717724

53 MEDUAX717849

54 MEDUAX717815

55

85 MEDUEI840152

86 MEDUEI803770

90 MEDUEI707617

95 MEDUEI765714

96 MEDUEI959945

99 MEDUF5174018

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

Central Govt targets Rs 10,000 crore from monetisation of Ports in FY25

Cont’d. from Pg. 4

Shipping Secretary Shri TK Ramachandran recently said that the Centre is looking to increase the share of PPP at government-owned ports to 80 percent by the end of the decade, said the report.

Although newly identified projects make up only a small portion of the

shipping ministry’s FY25 pipeline, with a focus on pending mega projects, it said.

Finance Minister Smt. Nirmala Sitharaman had last October urged the shipping ministry to speed up the monetisation process of identified projects.

“Out of 12 major ports, nine have at

least 31 projects that have been identified and approved for asset monetisation. I would think the ministry should go speedily on these so that those projects can get monetised That is expected to give around Rs 14,483 crore,” Sitharaman said at the Global Maritime India Summit 2023 in Mumbai on October.

India in trade deficit with 9 of Top 10 trading partners in 2023-24

NEW DELHI: India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Ru s s i a , S i n g a p o r e , a n d Ko r e a , in 2023-24, according to official data The data also showed that the deficit with China, Russia, Korea, and Hong Kong increased in the last fiscal compared to 2022-23, while the trade gap with the UAE, Saudi Arabia, Russia, Indonesia, andIraqnarrowed

The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion and Hong Kong to USD 12.2 billion in 2023-24 against USD 83 2 billion, USD 43 billion, USD 14 57 billion and USD 8 38 billion, respectively, in 2022-23

China has emerged as India’s largest trading partner with USD 118.4 billion of two-way commerce in 2023-24, edging past the US.

The bilateral trade between India and the US stood at USD 118.28 billion in

2023-24. Washington was the top trading partner of New Delhi during 2021-22 and 2022-23.

India has a free trade agreement with four of its top trading partners –Singapore, the UAE, Korea and Indonesia (as part of the Asian bloc).

India has a trade surplus of USD 36.74 billion with the US in 2023-24 America is one of the few countries with which India has a trade surplus The surplus is also there with the UK, Belgium, Italy, France and Bangladesh India’s total trade deficit in the last fiscal narrowed to USD 238.3 billion as against USD 264.9 billion in the previous fiscal.

According to trade experts, a deficit is not always bad, if a country is i m

intermediary products to boost manufacturing and exports. However, it puts pressure on the domestic currency.

Economic think tank Global Trade Research Initiative (GTRI) said that a bilateral trade deficit with a country

isn’t a major issue unless it makes us overly reliant on that country’s critical supplies. However, a rising overall trade deficit is harmful to the economy

“A rising trade deficit, even from i m p o r t i n g r a w m a t e r i a l s a n d intermediates, can cause the country’s currency to depreciate because more foreign currency is needed for imports. This depreciation makes imports more expensive, worsening the deficit,” GTRI Founder Ajay Srivastava said.

He said that to cover the growing deficit, the country might need to borrow more from foreign lenders, increasing external debt and this can deplete foreign exchange reserves and signal economic instability to investors, leading to reduced foreign investment.

“Cutting trade deficit requires b o o s t i n g e x p o r t s , r e d u c i n g unnecessary imports, developing domestic industries, and managing currency and debt levels effectively,” Srivastava added.

Adani Ports set to win O&M contract for Container handling at Syama Prasad Mookerjee Port

KOLKATA: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operator, is set to win the rights to handle containers from five berths at Netaji Subhas Dock of S y a m a P r a s a d M o o k e r j e e Po r t Authority (erstwhile Kolkata Port Trust) on operation and maintenance (O&M) contract for five years.

APSEZ, the only bidder to place a price bid for the contract, quoted some Rs 2,100 per twenty-foot equivalent unit (TEU), which is well within the ceiling rate set by the port authority to emerge the successful bidder, multiple sources said, adding that the deal would help the port operator bolster its presence in the e a s t e r n c o a s t p o r t , o n e o f t h e 12 owned by the Union government.

Syama Prasad Mookerjee Port Authority had set a ceiling rate of Rs 2,127 (excluding GST) per loaded TEU Marine Freight Container (in case of berths equipped with mobile harbour cranes) for the project.

The private firm quoting the lowest rate for handling a loaded container within the ceiling rate of Rs 2,127 would win the five-year deal, according to tender terms. This amount will be paid by the port authority to the private operator, per the O&M contract.

“The price bid of APSEZ will be

submitted to the board of the port authority for approval and the tender will be awarded after the model code of conduct for the on-going elections is lifted,” a government official briefed on the tender details, said.

The private operator will have to i n v e s t s o m e R s 5 6 9 8 5 c r o r e (excluding GST) to erect equipment such as 4 Mobile Harbour Cranes (to be available on round the clock basis) and two more MHC’s to be kept as standby, 3 Rubber Tyred Gantry Cranes (RTG), 12 Reach Stackers (RST) and 35 Tractor Trailers (TT)

The port authority will provide 4 berths for MHC operations and 1 nonMHC berth for handling containers from geared vessels. The private operator may also have to operate geared vessels in MHC berths

A P S E Z i s e x p e c t e d t o s t a r t operating the five berths in November after the current ten-year contract run by Bharat Kolkata Container Terminals Pvt Ltd (a wholly owned unit of Singapore’s PSA International Pte Ltd) ends.

While Bharat Kolkata Container Terminals is operating 3, 4, 5, 7 and 8 berths of Netaji Subhas Dock, the new O&M operator will be given 1,2,3,4 and 5 berths of NSD for five years.

Simultaneously, Syama Prasad Mookerjee Port Authority has floated a tender to privatise NSD berths 7 and 8 along with back-up area of 25 acres on public-private-partnership (PPP) model for 30 years, with a capacity to handle some 5 lakh TEUs.

“After the five-year O&M contract ends, the berths 1 to 5, having a capacity to handle about 7 lakh TEUs, will also be privatised on PPP model for 30 years,” the government official said. The O&M deal will be APSEZ’s second terminal in Syama Prasad Mookerjee Port.

In 2023, APSEZ secured a 30-year contract to mechanise berth No 2 at Haldia Dock with an investment of Rs 298.26 crore to handle 3.744 million tons (mt) of dry bulk cargo.

“APSEZ’s footprint in West Bengal is only at Haldia Dock with a dry cargo handling berth which will start operations in 2025. But, in the container space, it doesn’t have a presence Kolkata is a large consuming market and also caters to the container traffic of Nepal, Bangladesh and Bhutan. From the point of view of ports and logistics, APSEZ cannot be a relevant pan India container terminal operator without having a footprint in Syama Prasad Mookerjee Port,” said an industry source.

m.v. “CONTI COURAGE” Voy : IP421A

I.G.M. NO. 2377936 Dtd. 25-MAY-24 Exch rate 85.96

The above vessel has arrived on 28-05-2024 at MUNDRA PORT with Import cargo from CHARLESTON.

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

MUNDRA PORT SEZ

The above vessel has arrived on 28-05-2024 at MUNDRA PORT with Import cargo from BALTIMORE, BOSTON, CHARLESTON, SAVANNAH.

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

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 28-05-2024 at MUNDRA PORT with Import cargo from BALTIMORE

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

The above vessel has arrived on 28-05-2024 at MUNDRA PORT with Import cargo from FREEPORT, GRAND BAHAMA, MONTREAL, CAUCEDO, ALTAMIRA, VERACRUZ, BALTIMORE, BOSTON, CHARLESTON, MIAMI,

NORFOLK, PORT EVERGLADES, SAVANNAH.

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

MEDUVD444786

MEDUVD540971

MEDUVD531186

MEDUVD771097

MEDUVD779348

MEDUQ8706291

MEDUVD566372

54 MEDUVD384230

55 MEDUVD400937 56 MEDUVD442152 57 MEDUVD426825

MEDUX5753223 59 MEDUX5757307

MEDUVD491233

MEDUX5753215

MEDUVD501346

MEDUVD496182

MEDUVD491894

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

AGENCY (INDIA) PRIVATE LIMITED

IWAI hosts Stakeholders’ Interaction in Gujarat

SURAT: Inland Waterways Authority of India under Ministry of Port, Shipping and Waterways organised a Stakeholders’ Meet on 27th May in Surat to discuss the development of National Waterways in the state of Gujarat.

The Interaction was headed by IWAI Chairman Mr. Vijay Kumar, IAS along with other officials of IWAI.

The Meeting concluded with fruitful discussions on ways to develop National Waterways in the state.

IWAI Chairman Mr Vijaykumar, IAS along with other IWAI officials visited Dumas in South Gujarat for identifying the location of jetty needed for Cruise Tourism in NW 100 – Tapi River He also visited AMNS port in Gujarat’s Surat & also inspected RiverTapi –NW 100. AMNS Port handles 80-85% of the total cargo moved on National Waterways 100

Govt deliberates on FTA strategy, SOP for Trade negotiations

NEW DELHI: Department of Commerce holds Chintan Shivir on FTA Strategy and SOP for Trade Negotiations Economic Assessment and Modelling of FTAs, Services and Digital Trade in FTAs, and Leveraging India’s FTAs to address emerging areas like AI, critical minerals discussed.

Department of Commerce, Ministry of Commerce and Industry in collaboration with Centre for Trade and Investment Law (CTIL), Indian Institute of Foreign Trade, New Delhi organised a Chintan Shivir on Free Trade Agreement Strategy and SoP for Trade Negotiations in Rajasthan.

The two-day Chintan Shivir facilitated discussions on various issues related to negotiations of Free Trade Agreements (FTAs) by India, its position and strategy that should be adopted for such negotiations.

The attendees also deliberated on standard operating procedures (SoP) for FTA negotiations, capacity building and resource management for trade negotiations as well as certain contemporary issues under modern FTAs such as

labour, environment and gender

The Chintan Shivir unfolded across six dynamic sessions and one roundtable, each delving into critical themes: Economic Assessment and Modelling of FTAs; addressing New Disciplines into FTAs such as Labour, Environment, Gender, Indigenous Peoples; Services and Digital Trade in FTAs; Standard Operating Procedures for FTA Negotiations including Stakeholder Consultations; Capacity Building and FTA resource management; and Leveraging India’s FTAs.

The shivir addressed emerging areas such as Carbon Border Adjustment Mechanism (CBAM), Supply Chain disruptions, Critical Minerals and Artificial Intelligence.

Commerce Secretary Sunil Barthwal spearheaded the Chintan Shivir, seeking to chart a strategic course for India’s future engagement in FTA negotiations.

The program drew active participation of senior government officials involved in India’s FTA negotiations from various Ministries, Departments, and Agencies of Government of India.

RIL to start construction on India’s first MMLP near Chennai

CHENNAI: India’s first Multimodal Logistics Park at Mappedu near Chennai will see the limelight as Reliance Industries(RIL) starts construction in June, according to multiple sources. The project aims to facilitate efficient, cost-effective and value-added logistics services such as cargo aggregation and disaggregation, distribution, intermodal transfer, sorting, packing, and repacking However, it did not take off due to the poor response from the private sector on issues like connectivity.

In 2022, the Centre awarded the contract to Reliance with Prime Minister Shri Narendra Modi laying the foundation stone on May 26, 2022. However, many issues, including road access to local villages, delayed the start of the construction. All these have been sorted, and the construction is to start in June, they said.

In October 2021, a Memorandum of Understanding was

signed among Tamil Nadu Industrial Development Corporation, National Highways Logistics Management Limited and the Chennai Port Trust.

It is located 52 km from the Chennai Port, 80 km from Ennore Port and 87 km from Kattupalli Port. It will be a focal point of logistics in the southern region. It is estimated to cater to around 7.17 million tonnes (mt) of cargo over 45 years.

According to a pre-feasibility report, the project will also serve as secondary market clusters in Ranipet, Ambur, Tirupur, and Bengaluru, which are home to industries like leather, heavy machinery parts, automobiles, cement, sugar and chemicals.

The project is also near the automobile and electronics manufacturing clusters on the Sriperumbudur-Oragadam industrial belt and near Chennai Peripheral Ring Road.

However, the project’s success will depend on rail connectivity from Mappedu to the ports, said sources.

Goldman Sachs raises India’s GDP growth forecast to 6.7% for 2024

NEW DELHI: Goldman Sachs has raised its GDP growth forecast on account of the bumper dividend by the Reserve Bank of India (RBI) and has also pushed back its expectations of interest rate cut by the central bank.Analysts at Goldman Sachs have revised upwards India’s GDP forecast by 10 basis points (bps) to 6.7% for 2024 as they expect sustained growth momentum with extra fiscal space on the back of massive dividend transfer by the RBI

On domestic growth, high frequency indicators remain strong, with our proprietary consumption index tracking a recovery in Q1 (+7 8% YoY) underpinned by a nascent recovery in rural consumption and a sustained momentum in urban consumption indicators.

“Going forward, we expect investment growth momentum to sustain with extra fiscal space for infrastructure spending given a higher than expected dividend transfer by the RBI. As a result, we recently revised our growth forecasts for CY24 slightly higher by 10 bps to 6.7% YoY,” Goldman Sachs analysts Santanu Sengupta, Arjun Varma and Andrew Tilton said in a note.

India’s growth momentum remains strong and they expect the core inflation will bottom out in April-June 2024 and be around 4.0% – 4.5% in H2CY24.

Meanwhile, the Monetary Policy Committee (MPC) members from the RBI have sounded cautious on sticky food inflation owing to supply side disruptions due to the ongoing hot weather conditions in many parts of India.

m.v. “MSC DIEGO” Voy : XA420A

I.G.M. NO. 2377976 Dtd. 27-MAY-24 Exch rate 85.81

The above vessel has arrived on 23-05-2024 at MUNDRA PORT with Import cargo from BRISBANE.

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

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 23-05-2024 at MUNDRA PORT with Import cargo to MUNDRA from ADELAIDE, BRISBANE, FREMANTLE, MELBOURNE, SYDNEY, VALPARAISO, DJIBOUTI, COPENHAGEN, HELSINKI, BELFAST, GREENOCK, LIVERPOOL, PORTBURY, CORK, TAMATAVE, PORT LOUIS, BLUFF, LYTTELTON, TAURANGA, POINTE DES GALETS, MUKALLA.

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

Chabahar Port : Opportunities and Challenges

CHABAHAR: The recently concluded contract between India and Iran, which gives New Delhi rights to invest in and operate the Shahid-Behesti Ter minal at Chabahar Port for another 10 years, has created many headlines The port remains the crown project anchoring economic relations between the two countries. The deal came at a precarious time in West Asia as the war in Gaza continues unabated, Israel-Iran tensions remain critical, and the passing of Iran’s President and Foreign Minister in a helicopter accident challenges domestic politics in Tehran.

There is no denying that the Chabahar project is an important endeavour for both economic and strategic reasons. At the core of it, Chabahar, for India, represents its thinking from the perspective of an extended neighbourhood, and not necessarily as part of its West Asia outlook. The port is a fulcrum of the I n t e r n a t i o n a l N o r t h – S o u t h Transport Corridor, a project looking towards seamlessly linking India with Central Asia and Russia, bypassing Pakistan. Beyond this, Chabahar is also astutely tuned into the ‘new’ realities of Afghanistan. T h e T a l i b a n - l e d i n t e r i m government in Kabul has also thrown its weight behind the port, offering an investment of $35 million as it looks to secure alternatives and not be economically reliant on Pakistani ports such as Karachi or t h e C h i n a - b a c k e d G w a d a r. In November 2023, Taliban leader Mullah Baradar visited Chabahar, with Shahid-Behesti visible in the background.

Bilaterally for India and Iran, Chabahar is also a symptom of challenges between the two states. While there is a lot of public championing for the project, and for good reasons, if it was not for Chabahar, India-Iran ties today would look extremely dry. The reasons are multifaceted and tied to both country’s views of their national, regional, and geopolitical interests. Instead of expanding projects and economic cooperation beyond Chabahar, many older ones, such as the gas field Farzad-B which was discovered by Indian state-owned enterprise ONGC Videsh, have now been written off. Another old bilateral platform, the IranoHind shipping company, was

dissolved in 2013 because of sanctions Chabahar is a legacy project, which has its foundations going back to 2003. This was an era

abroad. Chabahar in Iran was one, and Sakhalin-I in Russia, was another.

A reection of diplomacy

The geopolitics today that surrounds India’s play in Chabahar, and Iran’s leverages, make for an interesting study. This latest iteration of the deal was signed not too long after both Israel and Iran exchanged missile fire and came critically close to a full-scale conflict. India’s Adani Group, meanwhile, has also invested in a large port project in Israel

The company bought Israel’s Haifa portontheMediterraneanSeafor$1 2 billion This was also made possible in part due to India’s participation in new diplomatic and economic endeavours with the United States, Israel, and Arab partners, such as the I2U2 and India-Middle East-Europe EconomicCorridor.

The fact that India’s buy-in into Haifa was not a constraint for the Chabahar deal to go through is not o n l y a t e s t a m e n t t o I n d i a n diplomacy but also for the U.S. to recognise that this kind of access which New Delhi has is beneficial, and not detrimental, to Washington.

Recent remarks from the U.S. over potential sanctions against Chabahar stand out as myopic. India’s relations with Iran and the c o n t i n u i t y o f C h a b a h a r ’ s development, which offers access to difficult political terrain such as Central Asia, and even Afghanistan, could bring in a significant level of integration and help in building alternatives to China-backed projects. Despite public discourse, China’s heavy financial might and the 2021 strategic deal with Iran, do

not automatically make Tehran subservient to Beijing Iran is a quintessential survivalist state and plays a diverse set of cards in its playbook of geopolitics.

The Biden administration would benefit by not blindly following former U.S. President Barack Obama’s doctrine on how to deal with India-Iran ties, and Chabahar, at its centre. New Delhi burnt its fingers by giving Mr Obama too much room when it completely stopped importing oil from Iran. This took Tehran, consistently among India’s top two suppliers of oil for decades, out of the top 10. Even if India’s thinking was to build influence in Washington around the nuclear deal negotiations, Donald Trump as the U.S. President and the unilateral exit of the U.S. under his w a t c h f r o m t h e J o i n t Comprehensive Plan of Action (JCPOA) in 2018, recalibrated how non-partisanship and the stability of critical U.S. foreign policies were to be viewed thereafter

The bigger picture

Finally, for Chabahar, there are two main points to consider moving forward First, the port project cannot be the singular major play in the bilateral relationship This concentration of interests is volatile. Second, the U.S. must move towards being accommodative on sanctions against Chabahar. Viewing the port as collateral against problematic Iranian policies in West Asia would not be an accurate understanding of the big picture of India’s own outreach t o w a r d s i t s e x t e n d e d neighbourhood which could benefit larger American aims as well.

T h i s i s i m p o r t a n t t o b e considered at a time when the U.S. itself maintains a channel with the Iranians not only through Swiss intermediates but, increasingly, through Oman and Qatar as well.

m.v “WAN

HAI 316

” V- - 216W I G M No. 2377753 Dtd. 23-05-2024

The above vessel has arrived at Mundra on 28-05-2024 as per following details.

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING duly discharged and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS / lCD's movement due to port congestion or any other cause beyond the control of the Shipping Line / Agents are not responsible for the same. Also note that the Shipping Line / or their Agents will not be held responsible for auction by Port / Customs / Custodian of uncleared cargo on expiry of stipulated period as laid down in the byelaws. Consignees are advised that the carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods.

For vessel ETA / IGM- ITEM/ Exchange Rate / Local charges & Detention Charges please contact our office.

Emirates Shipping Agencies (India) Pvt. Ltd

Aura Commercial Building, Ward 6, Plot No. 23 Commercial, Office No. S/3 & 4, 2nd Floor, Aerodrome Road, Opp. Om Cineplex, Gandhidham, Gujarat - 370201. In case of any query kindly contact the below E-mail IDS & Phone Numbers :

IMPORT related : ravi.vaghela@in.emiratesline.com

Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 89809 97977

EXPORT related : hardik.jadeja@in.emiratesline.com

Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 98980 76324

IGM Tracking : http://www.emiratesline.com : 8090/eadmins/igm_main.jsp.

NOTICE TO CONSIGNEES

m.v. “ZHONG GU

JI

NAN ” V - 24003E

The above vessel has arrived at Mundra on 28-05-2024 as per following details.

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING duly discharged and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS / lCD's movement due to port congestion or any other cause beyond the control of the Shipping Line / Agents are not responsible for the same. Also note that the Shipping Line / or their Agents will not be held responsible for auction by Port / Customs / Custodian of uncleared cargo on expiry of stipulated period as laid down in the byelaws.

Consignees are advised that the carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods.

For vessel ETA / IGM- ITEM/ Exchange Rate / Local charges & Detention Charges please contact our office.

Emirates Shipping Agencies (India) Pvt. Ltd

Aura Commercial Building, Ward 6, Plot No. 23 Commercial, Office No. S/3 & 4, 2nd Floor, Aerodrome Road, Opp. Om Cineplex, Gandhidham, Gujarat - 370201. In case of any query kindly contact the below E-mail IDS & Phone Numbers :

IMPORT related : ravi.vaghela@in.emiratesline.com

Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 89809 97977

EXPORT related : hardik.jadeja@in.emiratesline.com

Tel. No. : +91-2836-239378 / 239379 - Mob. : +91 98980 76324

IGM Tracking : http://www.emiratesline.com : 8090/eadmins/igm_main.jsp.

PSA Singapore and PIL Successfully Trial a Low-carbon End-to-End Shipment, Furthering

SINGAPORE: PSA Singapore (PSA) and Pacific International Lines (PIL) announced the completion of their first trial of low-carbon green shipments, in a joint effort to build a more sustainable end-to-end supply chain ecosystem.

This pilot trial is part of the Memorandum of Understanding signed in October last year between the two long-standing partners to collaborate on green and sustainability solutions to decarbonise supply chains. The pilot consists of warehouse-to-warehouse cargo flow from Singapore to Chongqing via the International LandSea Trade Corridor. The containers, bound for Mitsui Chemicals Asia Pacific, Ltd’s beneficial cargo owner, were transported via PIL’s vessel Kota Ratna and PSA’s coastal terminal and rail nodes in Singapore, Qinzhou and Chongqing.

Green levers utilised in this pilot include the use of biofuel on the PIL vessel, Kota Ratna, as well as landside supply chain optimisation by PSA

The biofuel used for this trial, a blend of 24% used cooking oil with very low sulphur fuel oil, abated about 100 tonnes of carbon, equivalent to planting 4000 trees, and reduced the emissions of greenhouse gases (GHG) by 84.1%.

With first-hand data on carbon emissions obtained from this pilot trial, PIL will be better equipped to assess how it can further lower emissions from its vessel operations, not just for its existing ships but also for its eight new LNG dual-fuel container vessels that will be progressively delivered from end 2024.

Supply Chain Decarbonisation

The PSA Port Ecosystem Business Division leveraged container barging, a greener mode of transportation as compared to trucking, to haul cargo from PSA Jurong Island Terminal to Pasir Panjang Terminal for onward shipment towards Chongqing. In addition, the use of container handling equipment powered by electricity and greener alternative fuels at PSA’s ports reduced emissions in the port area.

The collaborative efforts by both partners across the end-to-end supply chain translated to planting one tree for every laden container moved across this value chain.

Mr Philbert Chua, Managing Director, Container Division, PSA Corporation Ltd, said, “The successful completion of this green pilot project with PIL is an important step forward for the maritime and supply chain sector Combating climate change is one of our urgent priorities and PSA is committed to work with likeminded partners to put these words into action. This concerted teamwork illustrates a step-by-step measurable approach to further decarbonise supply chains and has unlocked opportunities for accelerated action to achieve our net zero goal.”

Mr Abhishek Chawla, Chief Marine Ofcer, PIL, said, “PIL is pleased to receive promising results from this low-carbon green shipments pilot trial with PSA With sustainability at the core of PIL’s operations, we are happy to join forces with PSA as we take concrete action to drive a sustainable future The valuable insights obtained from this trial will empower PIL to further reduce our vessel emissions in the future, as part of our goal of achieving net zero by 2050 Working hand in hand with like-minded partners, we can augment each other's sustainability efforts in creating greener shipping and providing a sustainable net zero model to our customers soon ”

AP Moller-Maersk recognised as a Leader in the 2024 Gartner Magic Quadrant™ for third year in a row

COPENHAGEN: AP MollerMaersk has been recognized as a Leader in the 2024 Gartner Magic Quadrant™ for Third-Party Logistics (3PL) report.

It’s the third consecutive year that Maersk has been named a Leader According to Gartner, Leaders execute well against their current vision and are well positioned for tomorrow

The Magic Quadrant for Third-Party Logistics, as explained by Gartner, “evaluates global third-party logistics providers. Supply chain leaders responsible for logistics can use this research to assess these 3PLs when considering outsourcing elements of their logistics operations." Why we believe Maersk was recognised as a Leader

Maersk believes being named a Leader in the 2024 Magic Quadrant for 3PL is recognition of our ability to supply customers with a wide range of quality transportation products and logistical services – from ocean and inland transportation to warehousing, customs management and beyond. As part of our Integrator 2030 strategy, we are developing a fully integrated logistics offering for our customers by offering end-to-end logistics services.

In the last year, Maersk has continued to progress towards delivering that strategy, which will allow customers to either opt for the full suite of logistics services or pick and choose from the full catalogue. For example, throughout 2023, Maersk integrated most of its acquisitions into the Maersk brand, including Hamburg Süd, Sealand, Senator, LF logistics, and Pilot Freight Services. The goal is to

simplify operations and make it easier to deliver end-to-end supply chain value to customers w a n t i n g f u l l y i n t e g r a t e d solutions. At the same time, it will help us improve service quality for customers that are choosing one or more solutions, depending on their business needs.

Global markets are evolving fast, supply chains are increasingly complex, and being equipped to handle disruption is a necessity Maersk is working to offer logistics solutions that connect, protect, and simplify your supply chain This is underpinned by a combination of Maersk’s physical assets, new digital platforms, and insights-driven advice.

“We are proud to have AP Moller-Maersk named as a Leader in the Gartner Magic Quadrant for Third-Party Logistics, Worldwide report for a third year in a row As a trusted supply chain partner, we are working hard to offer our customers quality, sustainable, and innovative transportation products and logistics solutions that connect, protect, and simplify their supply chains. In this world of frequent disruption and complexity, we believe the outcome of the 2024 Magic Quadrant shows how we are constantly evolving our offering to every logistical need. We remain committed to supporting our customers all the way,” said, Narin Phol, Executive Vice President and Chief Product Ofcer – Logistics & Services.

COSCO SHIPPING Development secures World’s First Full-Container Industry Chain Transformation Finance Project

B E

Development and Standard Chartered Bank (China) Limited have entered into a

transforming the container industry chain and fostering sustainable finance, which includes a committed credit line of 3 billion yuan. The signing of this cooperation agreement is set to enhance ongoing information exchange between the two organizations at national, regional, and global scales. It will also deepen their joint efforts in transition financing, liquidity, and risk management, alongside promoting green and sustainable

development initiatives. This move aims to bolster highquality advancements in the ESG field.

Recognized as the world’s first financial project dedicated to the transformation of the entire container industry chain, this initiative seeks to pinpoint the green and low-carbon transformation pathway within the container industry By examining the daily operations of container manufacturing and leasing among other business segments, the project aims to integrate a “transformation finance” solution to support and expedite the green and lowcarbon transformation process for each node within the industry chain.

Hapag-Lloyd christens new LNG dual-fuel 23,600 TEU-Damietta Express

H A M B U R G : G e r m a n shipping heavyweight HapagLloyd has held a christening ceremony for its new liquefied natural gas (LNG) dual-fuel 23,600 TEU containership ‘Damietta Express‘.

As informed, the ceremony took place at Hanwha Ocean’s shipyard in South Korea on May 24, 2024. The 400-meter long vessel is the fifth ship to join the company’s Hamburg Express-class series.

“With her advanced and efficient dual-fuel engines, her energy-efficient design and her many innovative features, the “Damietta Express” has been carefully crafted to meet today’s demands and to help us on our way forward into a challenging future,” Chief Financial Ofcer (CFO) of Hapag-Lloyd Mark Frese

commented. The first boxship in this class, Berlin Express, was named in October last year.

The new class of ships will make an important contribution to Hapag-Lloyd’s efforts to operate its entire fleet in a climate-neutral manner by 2045, according to the shipowner Thanks to their new dual-fuel technology, they will also be able to operate using non-fossil fuels, such as bio-methane and e-methane, and thereby generate hardly any CO2 emissions.

For the time being, liquefied natural gas will be used, which should reduce CO2 emissions by up to 25% and soot emissions by 95%. In addition, advanced components, such as an optimized hull and a highly efficient propeller, will help the vessels to reduce fuel consumption and thereby greenhouse gas emissions.