MU MB AI : Re po rt ed Consolidated quarterly numbers for Total Transport Systems are: Net Sales at Rs 169.04 crore in September 2022 up 21.79% from Rs. 138.80 crore in September2021.
Quarterly Net Profit at Rs 1.70 crore in September 2022 down 24.41% from Rs 2.25 crore in September 2021 EBITDA stands at Rs. 5.18 crore in September 2022 up 21.31% from Rs.4.27croreinSeptember2021.
NEW YORK: The John McCown’s Blue Alpha Capital estimatedcombinedearningsofContainerLines,boththose that publicly report results and privately held, at $58.9bn for thethirdquarteroftheyear Cont’d. Pg. 7
JEBEL ALI: GAC Group has announced the appointment of Pontus Fredriksson as its new Group President effective from January2023.
FredrikssonjoinedGACin2007andhasbeenGroupVice President of GAC’s Americas region since August 2019. He previously held various finance and managerial roles in the Middle East, including Managing Director of GACBahrain.
“His acumen and sound industry knowledge put him in a good position to lead the Group to further successes in a turbulent environment and I look forward to supporting him in his new role,” stated Bengt Ekstrand, Former Group President.
Ekstrand has held the position for the past 10 years and now is going to take on the role of
Executive Co Chairman alongside GAC’s long standing Executive ChairmanBjörnEngblom.
AccordingtoCACGroup,Ekstrand’s tenure began at a time of economic turmoil in the Eurozone and expanding armed conflicts in the Middle East. Sluggish oil prices would soon plunge to lessthanUS$45perbarrel
During that period, Ekstrand launched a wide ranging reform program within GAC known as Delta21 After that, significant structural and operational changes occurred, according to the group, making them more resilient, more efficient,andmoreprofitable.
Ekstrand leaves the position with GAC reporting record resultsinrecentyears.
Cont’d. from Pg. 2
Total Transport EPS has increased to Rs. 1.72 in September 2022 from Rs. 0.58 in September 2021. Total Transport shares closed at 176.35 on November 16, 2022 (NSE) and has given 179.92% returns over the last 6 months and 243.09% over thelast12months.
Total Transport Q2FY23
Earnings
• 21.8% YoY increase in revenue mainly on account of increaseinvolumeforSeaImport LCL and Sea Import FCL which are up by 19% and 4% respectively. Also, doubling of volume of FCL on CIS sector has resultedinincreaseinrevenue.
• 21.9% YoY increase in EBITDA mainly due to volume boostleadingtohigherrevenues.
Commenting on the results, Mr. Makarand Pradhan, MD, Total Transport Systems Ltd. Said, “I am happy to share that in the month of September 2022, our Company acquired 60% stake in R.N. Freight Forwarders Pvt. Ltd. Which is in
the business of Custom House Agents. This helps us diversify and add a new vertical to our current businessoperations.
Our last mile delivery business is taking shape and growing in line with our expectations. This quarter we purchased few e-scooters for smooth and
timely delivery of Amazon orders. We are taking all necessary steps to make sure our business model –Abhilaya reaches newer heights and is well recognizedbye-commerceplayers.”
GENEVA: MSC has taken the next step in developing its Air Cargo solution with the delivery of the first MSC-branded aircraft, built by Boeing and operated by Atlas Air. The B777-200 Freighter will fly on routes betweenChina,theUS,MexicoandEurope.
Jannie Davel, Senior Vice President Air Cargo at MSC, said: “Our customers need the option of air solutions, which is why we’re integrating this transportation mode to complement our extensive maritime and land cargo operations. The delivery of this first aircraft marks the start of our long-term investmentinaircargo.”
Jannie Davel brings extensive air cargo experience, having worked in the sector for many years, most recently heading Delta’s commercial cargooperations,beforejoiningMSCin2022.
He said: “Since I started at MSC, I have spoken to numerous partners and customers right across the market and it is very clear that air cargo can enable a range of companies to meet their logistics needs. Flying adds options, speed, flexibility and reliability to supply chain management, and there are particular benefits for moving perishables, such as fruit and vegetables, pharmaceutical and other healthcare productsandhigh-valuegoods.
We are delighted to see the first of our MSC-branded aircraft take to the skies and we believe that MSC Air Cargo is developing from a solid
foundation thanks to the reliable, ongoing support fromouroperatingpartnerAtlasAir.”
Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings,Inc.(Nasdaq:AAWW),issupportingMSCon an aircraft, crew, maintenance and insurance (ACMI) basis. This aircraft is the first of four B777-200Fs in the pipeline, which are being placed on a long-term basis withMSC,providingdedicatedcapacitytosupportthe ongoingdevelopmentofthebusiness.
The B777-200F twin-engine aircraft has been commendedforitsadvancedfuelefficiencymeasures. It also has low maintenance and operating costs, and, with a range of 4,880 nautical miles (9,038 kilometres), it can fly further than any other aircraft in its class. It also meets quota count standards for maximum accessibility to noise sensitive airports around the globe.
Cont’d. from Pg. 2
The Q3 2022 result was 22.4%, or $10.8bn higher than the $48.1bn profit the sector reported in the same quarter in 2021. It was, however, $4.4bn or 6.6% lower thantheprofitContainerLinesreportedinQ2thisyear
“The small downturn follows seven straight quarters of record net income for the sector driven by significant pricing increases across all container lanes,”thereportsaid.
Looking ahead McCown said: “There will be further declines from Q322 in quarters to come. Aggregate overall pricing in the sector eased slightly in the latest sequential quarterly comparison, but not nearly at the samelevelasvariousspotrateindices.”
The report noted that overall average contract rates remainednearpeaklevelsinQ322withaveragedatafor loadsintotheUSattheirhighesteverinthequarter.
McCown said that taking into account all factors including spot rate trends through to November the forecast for full year 2022 net income for container
shipping was lowered $223.4bn from $244.9bn. He said that no ea rn in gs co ll ap se w as imminent.
The peak in financial results from Container Lines shows roughly nine months – one yearlagtothepeakinspotrateindicesduetothenature oflong-termcontractnegotiationsondifferenttrades.
The sharp falls in spot rates will put carriers under pressure at the next round of contract negotiations with the impact likely to be seen first on Asia – Europe with annual contracts up at year end and in May/June on the Transpacific trade. The extent to which contract rates will in turn determine how quickly container line profitably tails off in the in the coming quarters.
CJ-I MV Alcyone I Chowgule Bros. 02/12
CJ-II MV Sea Champion Aditya Marine 06/12
CJ-III MV Suvari Kaptan DBC 02/12
CJ-IV MV Safeen AL Amal Interocean 01/12
CJ-V MV Bao Shun Rishi Shpg. 04/12
CJ-VI MV Sea Prajna Benline 03/12
CJ-VII MV Berge Snowdown Synergy Seaport 03/12
CJ-VIII VACANT
CJ-IX VACANT
CJ-X MV Jewel Of Sohar
CJ-XI MV TCI Express TCI Seaways 01/12
CJ-XII MV SSL Bharat Transworld 01/12
CJ-XIII MV Aggelos B Rishi Shpg. 03/12
CJ-XIV MV PVT Sapphire Cross Trade 04/12
CJ-XV MV Clipper Barola Chowgule Bros. 05/12
CJ-XVA MV Kapetan Sideris Chowgule Bros. 04/12
CJ-XVI MV Khalejia Ana 5Scorpio Shpg. 03/12
Tuna Tekra Steamer's Name Agent's Name ETD
VACANT
Oil Jetty Steamer's Name Agent's Name ETD
OJ-I LPG Jag Vikram Nationwide 01/12
OJ-II MT Petalouda Interocean 01/12
OJ-III MT Oriental Hibiscus Allied Shpg. 01/12
OJ-IV MT Sea Ambition
OJ-V VACANT
OJ-VI MT APK Prestige
Stream
Stream MV Appaloosa Interocean Sudan 29,090 T. Sugar Bags 2022091338
Stream MV Appolo Bulker Samsara Mundra 11,000 T. SBM 2022111319
CJ-V MV Bao Shun Rishi Shpg. 18,601 CBM Logs 2022111238
Stream MV Chakravati Chowgule Bros. Cotonou 50,000 T. Rice Bags 2022111169
CJ-XV MV Clipper Barola Chowgule Bros. Vietnam 41,000 T. Sugar In Bulk 2022101373
Stream MV Dawai BS Shpg. Chennai 10,000 T. Silica Sand In Bulk 2022101335
OJ-II MT Devashree Samudra 6,000 T. Chem. 2022111299
Stream MV Elisar Ocean Harmony Durban 31,750 T. Sugar Bags 2022111243
30/11 MV Habco Aquila BS Shpg. Bangladesh 44,000 T. Salt 2022111316
Stream MT Hari Anand MK Shpg. 24,000 T. HSD 2022111320
CJ-XVA MV Kapetan Sideris Chowgule Bros. Vietnam 54,000 T. Salt 2022111280
CJ-XVI MV Khalejia Ana 5 Scorpio Shpg. 69,300 T. Laterite 30/11 MV Kosman Arnav Shpg. West Africa 24,500 T. Rice In Bags 2022111274
Stream MV My Lama Interocean Sudan 25,000 T. Sugar Bags 2022111127
Stream MV Obe Heart Interocean 25,000 T. Sugar Bags 2022111247
OJ-III MT Oriental Hibiscus Allied Shpg. Marseille 4,500 T. C. Oil 2022111156 03/12 MV Pac Adhil Tristar Shpg 2,500/1,500 T.M.Chloride/Sulphate & 18 2022111285
Stream MV Pegasus 01 DBC Somalia 8,000 T. Sugar Bags 2022111256
CJ-XIV MV PVT Sapphire Cross Trade 55,000 T. Salt 2022111248
CJ-IV MV Safeen AL Amal Interocean Sudan 33,000 T. Sugar Bags 2022111040
CJ-II MV Sea Champion Aditya Marine West Africa 30,460 T. Rice Bags 2022111178
30/11 MV Shail Al Khor Chowgule Bros. 69,250 T. Salt
Stream MV Stentor Interocean 27,450 T. Sugar In Bags 2022111187
CJ-III MV Suvari Kaptan DBC Somalia 9,500 T. Sugar Bags 2022111148
Stream MV Theotokos BS Shpg. Madgasakar 28,000 T. Rice Bags 2022111268
MV Berge Snowdown Synergy Seaport 36,355 T. CBM Pine Logs 2022111293 Stream MV Fan Zhou 6 Mystic Shpg. 343 (90/251/2 Blades/Access./SOC) 2022111123 30/11 MV Gautam Aarav Ocean Harmony Porbandar 2,097 T. Coal Fines 01/12 MV Iki DBC Japan 2,339 T. Steel 02/12 MV Ise DBC Japan 1,816/1,511/146 T. CRC/Bars/ S Pipes 02/12 MV Jimmy T Tauras 14,388 T. MOP 2022111004 Stream MV Josco Changzhou GAC Shpg. U.S.A. 52,533 T. Petcoke In Bulk CJ-XVI MV Khalejia Ana 5 Scorpio Shpg. 69,200 T. GYPSUM In Bulk 2022111257 05/12 MV Obe Grande Tauras 42,000 T. DAP CJ-VI MV Sea Prajna Benline 21,057/10,442 T. HMS/Sh Scrap 2022111263 07/12 MV Tian He JMBaxi China 5,926/1,244/238HRC/Plates/Wooden 06/12 MV True Courage Tauras 1,28,470 T. Coal Stream MV True Confidence Seascape 27,079 T. Met Coke 2022111125
Rosa 247W 22382
02/12 02/12-AM
Algeciras 02/12 09/12 09/12-AM Maersk Detroit 248W 22381 (MECL) 09/12 TO LOAD FOR FAR EAST, CHINA,
NEW
30/11 30/11-AM One Commitment 057E 22373 ONE ONE (India) West Port Kelang, Singapore, Leam Chabang, Busan, Sanshan, 30/11 08/12 08/12-AM MOL Creation 086E 22385 Ningbo, Sekou, Cai Mep. (PS3) 08/12 01/12 01/12-AM Aka Bhum 010E 22378 APL/OOCL DBC & Sons/OOCL(I) Port Kelang, Singapore, Hong Kong, Xingang, Dalian, Qingdao, 01/12 06/12 03/12-AM OOCL New York 090E 22393 Gold Star Star Shipping Busan (Ex. Pusan), San Pedro, Kwangyang, Chiwan. (CIXA) 06/12 04/12 04/12-AM Grace Bridge 248E 22379 Maersk Line Maersk India Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 04/12 11/12 11/12-AM BSG Bimini 249E 22387 Ningbo, Tanjung Pelepas. (FM3) 11/12 05/12 05/12-AM Wide Juliet 025WE 22390 X-Press Feeders Merchant Shpg. Port Kelang, Singapore, Laem Chabang. 05/12 ONE ONE (India) (TIP) 10/12 10/12-AM Seamax Westport 083 22391 COSCO COSCO Shpg. Singapor, Cai Mep,Hongkong,Shanghai,Ningbo,Schekou,Nansha (CI1) 10/12
30/11 30/11-AM SSL Gujarat 1291A 22396 SLS SLS Hazira, Cohin, Mangalore, Tuticorin, Mundra. (PIC 1) 30/11 02/12 02/12-AM Santa Rosa 247W 22382 Maersk Line Maersk India Salalah, Jebel Ali, Port Qasim. 02/12 09/12 09/12-AM Maersk Detroit 248W 22381 (MECL) 09/12
TBA SCI J. M Baxi Jebel Ali. (SMILE)
TBA X-Press Feeders Merchant Shpg. Jebel Ali, Sohar (NMG)
TBA SLS SLS Mangalore, Kandla, Cochin.(WCC)
01/12 01/12-AM Aka Bhum 010E 22378 OOCL/APL OOCL(I)/DBC Sons Colombo. (CIXA) 01/12 04/12 04/12-AM EM Astoria 248S 22380 Maersk Line Maersk India Colombo, Bin Qasim, Karachi (JADE) 04/12 04/12 04/12-AM Grace Bridge 248E 22379 SCI J. M Baxi Colombo. (FM3) 04/12 05/12 05/12-AM Wide Juliet 025WE 22390 X-Press Feeders Merchant Shpg. Karachi, Muhammad Bin Qasim. 05/12 ONE ONE (India) (TIP) 10/12 10/12-AM Seamax Westport 083 22391 COSCO COSCO Shpg. Karachi, Colombo (CI1) 10/12
30/11 30/11-AM One Commitment 057E 22373 ONE ONE (India) Los Angeles, Oakland. (PS3) 30/11 02/12 02/12-AM Santa Rosa 247W 22382 Maersk Line Maersk Line India Newark, North Charleston, Savannah, Huston, Norfolk. 02/12 09/12 09/12-AM Maersk Detroit 248W 22381 Safmarine Maersk Line India (MECL) 09/12 05/12 05/12-AM Wide Juliet 025WE 22390 X-Press Feeders Merchant Shpg Seattle, Vancouver, Long Beach, Los Angeles, New York, 05/12 ONE ONE (India) Norforlk, Charleston, Halifax. (TIP)
Northern Practise 0029 X-Press Feeders/ONE Sea Consortium/ONE(I) (ASX) 08/12 Hapag / CMA CGM ISS Shpg./CMA CGM Ag. (I) 02/12 Xin Yan Tai 224W Hapag / COSCO ISS Shpg./COSCO Shpg. Jeddah, Tanger, Southampton, Rotterdam, Bremerhaven, Antwerp, 02/12 CMA CGM/OOCL CMA CGM Ag.(I)/OOCL(I) Le Havre, Algeciras (EPIC) 03/12 Green Pole 248E Maersk Line/Hapag Maersk India/ISS Shpg Colombo, Port Klang, Singapore, Tanjug, Pelepas, Jebel Ali, Dammam, 04/12 X-Press Feeders Sea Consortium Doha (Arabian Star) 03/12 MSC Eugenia IP248A MSC MSC Agency Mundra, King Abdullah, Gioia Tauro, Tangier, Southampton, Rotterdam, 04/12 10/12 MSC Lisbon IP249A COSCO COSCO Shpg. Antwerp, Felixstowe, Dunkirk, Le Havre, King Abdullah, Djibouti, 11/12 CMA CGM CMA CGM Ag. (I) Karachi-Port Muhammad Bin Qasim. (IPAK) 05/12 Hyundai Hongkong 0139E HMM HMM Shpg. Singapore, Da Chan Bay, Busan, Kwangyang, Shanghai. (CIX) 05/12 11/12 Hyundai Busan 0141E HMM HMM Shpg. Santos, Paranagua, Buenos Aires, Itajai, Montevideo. (FIL) 11/12
In
In
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33000
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70,000
The above vessel has arrived on 28-11-2022 at MUNDRA PORT with Import cargo from LE HAVRE. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.
The above vessel has arrived on 28-11-2022 at MUNDRA PORT with Import cargo from LE HAVRE, KLAIPEDA. Please note the item Nos. against the B/L Nos. for MUNDRA delivery
Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. and usual survey conditions will apply.Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.
- Charges enquiry on land line - 619100
- IGM No./Item No./Destuffing
GENEVA: Trade growth is likelytoslowintheclosingmonths of 2022 and into 2023, according to the latest WTO Goods Trade Barometer released on 28 November, as the global economy continues to be buffeted by strong headwinds. The current reading of 96.2 is below both the baseline value for the index and the previous reading of 100.0, reflecting cooling demand fortradedgoods.
The Goods Trade Barometer is a composite leading indicatorforworldtrade,providingreal-timeinformationonthe trajectory of merchandise trade relative to recent trends. Values greater than 100 signal above-trend expansion while values less than 100 indicate below-trend growth. The barometer index (represented by the blue line above) has fallen below the merchandise trade volume index (the black line), which shows actual trade developments through the second quarter. The latter should eventually follow the barometer index down once quarterly trade statistics for the second half of 2022 are available. Recent divergence between the indices, as seen in 2021 and 2022, could be explained by delayed shipments of goods stemming from supply chain disruptionssincethepandemic.
The downturn in the goods barometer is consistent with the WTO's trade forecast of 5 October, which predicted merchandise trade volume growth of 3.5% in 2022 and 1.0% in 2023 due to several related shocks including the war in
Ukraine, high energy prices, and monetary tightening in major economies. Merchandise trade posted a 4.7% year on year increase in the second quarter after growing 4.8% in the first quarter. For the forecast to be realised, trade growthwouldhavetoaveragearound2.4%year-on-yearinthe secondhalfof2022.
The barometer index was weighed down by negative readings in sub-indices representing export orders (91.7), air freight (93.3) and electronic components (91.0). Together, these suggest cooling business sentiment and weaker global import demand. The container shipping (99.3) and raw materials (97.6) indices finished only slightly below trend but have lost momentum. The main exception is the automotive productsindex(103.8),whichroseabovetrendduetostronger vehicle sales in the United States and increased exports from Japanassupplyconditionsimprovedandastheyencontinued todepreciate.
UNCTAD’s Review of Mari me Transport 2022, an annual comprehensive review of global mari me transport, warns that the mari me sector will require greater investment in infrastructure and sustainability to weather future supply chain crises.
GENEVA:TheUNConferenceonTradeandDevelopment (UNCTAD)initsflagship"ReviewofMaritimeTransport2022" has called for increased investment in maritime supply chains.Ports,shippingfleetsandhinterlandconnectionsneed to be better prepared for future global crises, climate change andthetransitiontolow-carbonenergy.
Thesupplychaincrisisofthelasttwoyearshasshownthat amismatchbetweendemandandsupplyofmaritimelogistics capacity leads to surges in freight rates, congestion, and critical interruptions to global value chains. Ships carry over 80% of the goods traded globally, with the percentage even higher for most developing countries, hence the urgent need to boost resilience to shocks that disrupt supply chains, fuel inflationandaffectthepoorestthemost.
“We need to learn from the current supply chain crisis and prepare better for future challenges and transitions. This includes enhancing intermodal infrastructure, fleet renewal and improving port performance and trade facilitation,"
UNCTAD Secretary-General Rebeca Grynspan said. "And wemustnotdelaythedecarbonizationofshipping,"sheadded.
Investment is needed in maritime transport systems to strengthenglobalsupplychains
Logistics supply constraints combined with a surge in demand for consumer goods and e-commerce pushed container spot freight rates to five times their pre-pandemic levels in 2021, reaching a historical peak in early 2022 and sharply increasing consumer prices. The rates have dropped since mid-2022 but they remain high for oil and natural gas tankercargoduetotheongoingenergycrisis.
Dry bulk freight rates increased due to the war in Ukraine and related economic measures, as well as the prolonged COVID-19 pandemic and supply chain disruptions. An UNCTAD simulation projects that higher grain prices and dry bulk freight rates can lead to a 1.2% increase in consumer food prices, with higher increases in middle- and low-income countries.
KABUL: The Afghan Ministry of Industry and Commerce (MoIC) said that it has signed a new Air Corridor Agreement withIndiatoenableairtradebetweenthetwocountries.
Trade between the two South Asian neighbours had come to a standstill after the Taliban fighters took over Afghanistan in August 2021 following withdrawal by the American and NATOtroops.
Afghan news agency Ariana News quoted MoIC spokesperson Abdul Salam Jawad as saying that export of “Afghanistan’s commercial commodities to India continues through Wagah port and that in the past year, the country has exported more than 14 billion afghanis via the port”. India is a
bigimporterofsaffron,dryfruitsandasafoetida.
Jawad added that cargo flights between Afghanistan and India will increase exports of fresh and dry fruits, handicrafts and other commercial items, giving a boost to the Afghan economy.
Before the Taliban takeover, the two countries carried out trade through two air routes – Kabul-Delhi and also KabulMumbai. The second route had been opened only in December 2017 for India to import fresh fruits and medicinal plants from Afghanistan. This was started after observing the success of the Kabul-Delhi route inaugurated by then Afghan presidentAshrafGhaniinJune-2017.
NEW DELHI: India will soon be introducing its Logistics cost index that will provide granular data and help investors and policymakers formulate projects and interventions to improve efficiency, informed officials in the Department for Promotion of Industry and Internal Trade (DPIIT). According to the officials, the work on putting a framework for devising a logistics costindexisinthefinalstages.
Under the initiative, multiple indexed data will be provided to capture product-wise as well as region-wide logistics cost movement on a forthrightly or monthly basis on the lines of WPI and CPI, the officials quotedabovesaid.
The DPIIT will also bring annual, all-encompassing, national logistics cost data based on Indian systems to provide a truer picture of the costs involved in moving goods and servicesacrossthecountry.
“The artificial neural network method that is a system used globally to determine logistics cost relies
largely on international data sets of things coming from outside or business trying to happen with India and things that move out from here. So, international estimates on logistics cost in India is largely based on the cost of moving in and out of trading ports in the country that is determined by global shipping lines” said Surendra Ahirwar, Joint Secretary,DPIIT.
“It is here that determination of logistics costs based on the Indian system and involving actual cost within the country will bring out truer estimatesonthiscriticaldatathathas wide-scale ramifications. The cost indexes will further strengthen estimatesonlogistics,”headded.
“We will soon have a consultation meeting with experts from industry, academic, and government on domesticlogisticscostindex.Thereis an internal cost and a domestic cost. Muchofthetransportationcostbythe shipping lines and they are not in any sovereigncontrol.”
The Logistics cost in India is
unorganized and fragmented, leading to high logistics costs estimated as 14-15%ofGDP,against7-8%indeveloped nations such as Singapore and the US, whichleverageittoboostexports.
Launched in September, the National Logistics Policy (NLP) aims to bring down logistics costs and address logistical challenges. The NLP aims to bring down India’s logistics cost to 8% in the next five years.
Due to the fragmented logistics in the country, about 16% of India’s agriproduction is wasted at different stagesofthesupplychainandthenew policy seeks to limit losses incurred while transporting perishable commodities to under 5% by improving the warehouse facilities andcoldchainefficiency.
The PM GatiShakti National Master Plan, aimed at bringing logisticscostsonaparwithdeveloped nations, would save the government Rs. 10 trillion annually, Commerce and Industry Minister Shri Piyush Goyalhassaid.
NEWDELHI:Amonthwiseaction plan will be created for 235 road and highway connectivity projects yet to be awarded with specific focus on maximizing award by December 2022 and March 2023. A review meeting of the PM GatiShakti National Master Plan(NMP)saidthisistoaddressthe criticalinfrastructuregapprojects.
A Transport Ministry order said that these identified projects spread over the Ministries of Steel, Fertilizers, Ports, Shipping and Waterways,andDefence.
The maximum number of roads need to be built for the Defence Ministry with 168 projects being identified.
Ports, Shipping and Waterways Ministry comes next with 61 projects, Steelhasfive,whileFertilizerhasone project. The National Highway Authority of India (NHAI), National Highways & Infrastructure Development Corporation Limited (NHIDCL), and Border Roads Organisation (BRO) need to implement these projects. The status oftheseroadswillalsobetrackedona monthlybasis.
It has also been decided that geotagged data of Automated Testing Stations and Registered Vehicle Scrapping Facilities will be uploaded on the PM GatiShakti NMP Portal. Further,mappingofpotentialsitesfor
thesefacilitieswillalsobeaddedtoit.
Aslowedpaceofroadconstruction this year has prompted the Centre to undertakeacomprehensivereviewto identify the shortcomings and hasten implementation of national highway projects.
According to official data, 4,060 kilometres (KMs) of national highways were constructed during thecurrentfinancialyeartillOctoberend.Thisis10.7%lowerthanthe4,550 KMs built during the same months of fiscal 2021-22. The centre has also awarded 5,007 KMs of highways till October-end, up from 4,913 KMs during the comparable period of the previousyear.
CHENNAI: Despite being the largest producer of bananas in the world, India is ranked 20th in exports and has a meagre 0.6 per cent share in the global banana trade.IfIndiaadoptsanexport-oriented strategy to upgrade the value chain, the country can increase its exports by four-fold and grab a spot among the top tenexporters.
India’s exports of bananas in FY22 was $160.52 million against global exports of $14.5 billion—a share of 0.6 per cent. Even, the world’s fifth largest producer Ecuador has a 24percentshare.
According to K. Unnikrishnan, Joint Director General of the
Federation of Indian Export Organisations, or FIEO, India can reach at least $500 million exports within five years to grab a 3 per cent share in global trade and be one of the top 10 exporters if it improves production, post-harvest handling and phytosanitarystandards.
“Ourresearchinstitutionsandother stakeholders should come forward to provide solutions to increase shelf-life, reduce skin damages and improve technology and infrastructure for preandpost-harvestprocesses,”hesaid.
The government should encourage major retailers and department stores in India to invest in post-harvest channels to procure banana and sell through stores with specified
standards,brandingandpackaging.
“We need branding of bananas and the state governments should come forward to create state-specific brands and promote them in major markets. State governments should also provide support for creating procurement, sorting, packing and processing centres,”hesaid.
Globally, bananas are exported entirely by sea-freight. However, in India, more than 60 per cent is exported through air. This costlier mode restricts marketability of Indian bananas. There is a need for closer association withmajorshippinglines.
The UAE, Iran and Saudi Arabia together contributed 80 per cent of India’sbananaexportsduring2021-22.
MUMBAI: Container freight rates on major trades out of India have hit new lows in November amid falling cargovolumes,accordingtosources.
On the Westbound India-Europe trade, average contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK)orRotterdam(theNetherlands) have plunged to US$2,300 per 20-foot container and US$2,450/40-foot container,fromUS$3,500andU$4,000, respectively, in the last week of October.
For West India-Genoa (the West Mediterranean) cargo, carriers are accepting bookings at US$2,200/20foot box and US$2,500/40-foot box, compared with the October levels of US$3,750/20-footboxandUS$4,100/40footbox.
Eastbound cargo rates for these port pairings have, however, seen no changes month-on-month –continuing to hover at US$1,400/20foot container and US$1,500/40-foot container for bookings from Felixstowe/Rotterdam and at US$1,150/20-foot and US$1,400/40-foot containers to West India
(NhavaSheva/Mundra).
Average short-term contract prices offered by leading liners for Indian cargo moving to the US East Coast (New York) have also crashed significantlyfromtheOctoberlevels–down to US$4,750 per 20-foot box, versus US$6,350, and US$6,350 per 40-foot box, from US$8,350, and at US$3,650/20-foot container, from US$4,500, and US$4,850/40-foot box, down from US$6,050, for shipments to theUSWestCoast(LosAngeles).
For the West India-US Gulf Coast trade, rates have fallen to US$4,750 per 20-foot and US$6,850 per 40-foot container, compared with US$6,900 and US$9,050, respectively, at the end ofOctober.
On the return direction, average contract rates have not changed from the levels maintained by major operators last month – pegged at US$1,075/20-footboxandUS$1,434/40foot box from USEC; at US$2,484/20foot box and US$ 3,193/40-foot box from USWC; and at US$1,770/20-foot and US$1,843/40-foot box from the Gulf Coast, into West India (Nhava Sheva/Mundra).
Intra-Asia trades out of India have
seen sharp declines this month from theOctoberaverages,withdepressed tradevolumes.
Average contract rates offered by major carriers to regular clients for bookings from West India (Nhava Sheva/JNPT or Mundra) to Shanghai (Central China) now stand at US$150 per 20-foot container and at US$250 per 40-foot box, versus US$350 andUS$450,respectively,amonthearlier. For Indian cargo to Tianjin (North China),ratesaredowntoUS$200/20-foot and US$350/40-foot container, from US$350andUS$400inOctober.
For Indian shipments to Hong Kong, average rates are hovering at US$150/20-foot container and US$200/40-foot container, down from US$300 and US$400, according totheanalysis.
Rates on West India-Singapore cargo have collapsed to US$50/20-foot container and US$100/40-foot box, fromUS$150andUS$250lastmonth.
Contract rate levels on the return leg have fallen measurably month on month,withtheslideaveragingabout 30% for bookings from Shanghai/Tianjin to West India, theanalysisshows.
MUMBAI: Welspun One Logistics Parks has committed 100 per cent of its Rs 500 crore corpus across six investments to create a portfolio of Rs2,300crorespanningfivecities–MMR, NCR, Bengaluru, Chennai and Lucknow– aggregating to about 6.6 millionsquarefeetofgrossleasablearea.
Last year, the firm raised India’s first alternative investment fund (AIF) focusing on warehousing development. Ofthe6.6millionsqft,onemillionsqftof area has been delivered and an additionaltwomillionsqftisexpectedto be delivered in the second quarter of calendaryear2023,thecompanysaid.
Fifty per cent of the firm’s funds portfoliowillbedelivered,operationaland rent generating in a little over two years from its first close, said the company.
Notably, about 60 per cent of the portfolio is already pre-leased to a blue-chip roster of tenants such as Delhivery, Flipkart, FM Logistics, Tata Croma, and Ecom Express, with significant scope for leasing of the balanceportfolio.
Welspun One was among the first players in the country to spot an opportunity for domestic capital to invest in India’s growing warehousing sector. While the sector had attracted close to $6 billion in FDI over the past 3-4 years, there was no avenue for domestic investors to participate in this space in a hassle free, transparent and institutionalmanner.
Welspun One provided financialisation of real estate by launching India’s first AIF focussed on
warehousing development. It has also raised Rs 500 crore of capital commitments, from a set of high net worth investors including marquee individualsandfamilyoffices.
Over the next five years, the company expects to develop a portfolio of 20-25 million sq ft across “first mile” and “last mile/city centre” facilities in leading Tier-1 and Tier-2/3 cities panIndia.
India’s warehousing industry continues to show strong growth with an expected CAGR of 18 per cent over thenext3-4years.
The company is an integrated fund and development management platform, which delivers grade-A logistics and industrial parks across India.
NEW DELHI: India bought about 40% of all Urals seaborne export volumes loading in November, outperforming other states as buyers, Reuters calculations based on Refinitiv and traders’ data showed on Monday, 28thNovember.
Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit of oil from Kazakhstan, which is sold as KEBCO,
Reuterscalculationsshowed.
At the same time, shipments of the grade to Europe, which was previously thelargestconsumerofseaborneUrals, in November amounted to slightly less than a quarter. Almost the entire volume was delivered to refineries, in which Russian oil companies hold shares.
The total volume of shipments of Urals oil from the Russian ports in November amounted to 7.5 million
tonnes, excluding the transit volumes of Kazakhstan.
On Dec. 5, the European Union imposes an embargo on the supply of seaborneshipmentsofRussianoil.
According to traders, the volume of supplies of Urals oil to Europe may be further reduced in December, since the embargo involves a ban on the supply of Russian oil even by Russian companies to their remaining refining assets in the EU.
