DST-MUM-02-04-2024

APSEZ handles 420 MMT cargo

Globally, Domestic Ports handle over 408 MMT

• APSEZ handled its highest ever monthly cargo volumes of over 38 MMT in March 2024

• Eight ports - 84% of the porolio by volume - delivered double digit growth

• 100% broad cargo types – dry, container and liquid – recorded double digit growth

• Mundra Port alone handled more than 7.4 million TEUs, which is over a third of India’s container carg

AHMEDABAD: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company, has handled 420 MMT (+24% Y-o-Y) cargo in FY24 (including international ports), with domestic ports contributing Over 408 MMT cargo It has also handled its highest ever monthly cargo volumes (incl. international ports) of over 38 MMT in March 2024. Ten of our ports

and terminals handled record cargo volumes: Mundra 180 MMT, Tuna 10 MMT, Hazira 26 MMT, Mormugao 5 MMT, Karaikal 12 MMT, Ennore 13 MMT, Kattupalli 12 MMT, Krishnapatnam 59 MMT, Gangavaram 37 MMT and Dhamra 43 MMT

During FY24, more than one-fourth of all India cargo volumes was routed through APSEZ Ports.

Cont’d Pg. 15

Paradip Port Authority becomes No. 1 among Major Ports in cargo throughput in 2023-24

PARADIP: Paradip Port Authority becomes No 1 among Indian Major Ports in cargo throughput by clocking 145 38 MMT cargo throughput in FY 2023-24. For the first time in the 56 years history of operation, PPA has surpassed record set by Deendayal Port, Kandla

Shri P.L. Haranadh, Chairman, PPA congratulated the entire team comprising of Exporters & Importers, employees , Staff Unions, PPP Operators, Stevedores, Shipping Agents, Union & State Administration etc. whose combined effort has resulted in this stupendous achievement.

Mr. Karan Adani

CMA CGM and GTS Logistic establish JV for decarbonized transportation and logistics services

MARSEILLE: CMA CGM-the French logistics major and GTS General Transport Service, a leading Italian intermodal company, announced the establishment of a joint venture to offer reliable, affordable and decarbonised transportation and logistics services in Italy and in Europe.

“The joint venture, European Container Network, will combine the expertise and resources of both companies to provide innovative and sustainable transportation solutions to any containerised business in Italy and Europe,” says a release from CMA CGM.

By leveraging GTS’s assets, expertise and network across Italy and now in other European countries, along CMA CGM’s global shipping capabilities, the joint venture will offer integrated door-to-door transportation services to the entire market, enhancing efficiency and reducing carbon emissions, the release added.

“The joint venture will focus on expanding multimodal transportation options, optimising supply chain processes, and driving innovation in the transportation industry With a commitment to sustainability, the partnership will prioritise eco-friendly practices and technologies to minimise environmental impact.”

Alessio Muciaccia, CEO, GTS says: “We are excited to

embark on this journey with CMA CGM. By combining our strengths in intermodal rail transportation with CMA CGM’s expertise in shipping and logistics, we will create a seamless and sustainable solution that meets the evolving needs of our customers.”

Christine Cabau Woehrel, Executive Vice President, Assets and Operations, CMA CGM adds: “We see tremendous potential in this partnership with GTS. Together, we will unlock new opportunities for all JV’s customers, offering them innovative and decarbonised solutions if they wish to switch to rail.”

Initially focused on the Italian market, GTS and CMA CGM are poised to deliver value-added services that set new standards for excellence in the industry, the release added.

COSCO SHIPPING Specialized Carriers 2024 Global Partner

Conference held, aimed to share a Smarter and Greener Future

GUANGZHOU: On March 28, 2024

C O S C O S H I P P I N G S p e c i a l i z e d

Carriers Global Partner Conference took place in Guangzhou. With the theme of “Navigated by Smarter Feature, Share a Greener Future”, the conference aims to collaborate with global partners in effectively addressing the new wave of industrial transformation, exploring future trends in the shipping logistics industry, fostering new quality productive forces, and accelerating digitalization, sustainability, and low-carbon transition.

At the morning session, Executive Vice President of COSCO SHIPPING Mr Lin Ji stressed in his speech that the world is currently witnessing a period of great changes unseen in a century As a foundational and supportive industry for global economic prosperity, shipping logistics must follow future trends, take initiative, and demonstrate its responsibility towards the times. He called on global partners to uphold the new banner of mutual benefit and win-win cooperation, fostering a new pattern of collaborative product innovation, taking concerted efforts to stabilize supply chains, creating a business ecosystem featuring

resource co-construction, and expanding the application of green science and technology to embark on a shared journey of success.

In his keynote address, President of COSCO SHIPPING Specialized Mr. Huang Nan highlighted the company’s accomplishments over the past year in enhancing full-chain collaboration, hastening the digital, intelligent, green, and low-carbon transformation, and propelling the shipping industry’s sustainable development. He expressed anticipation for further deepening collaboration with partners along the global industrial chain, advancing digital, intelligent, and green transformation and development, jointly building an innovative partner ecosystem, and shaping a new shipping and logistics ecosystem.

COSCO SHIPPING Specialized, in collaboration with its partners, proposed the Green and Low-Carbon Development Initiative, a collective endeavor aimed at fostering green and low-carbon development

The initiative advocates for the establishment of a sustainable shipping system by all stakeholders, as well as a collaborative effort to drive the green transformation across the industrial chain.

Maersk Line Maersk India Djibouti, King Abdullah, Jeddah (Blue Nile) Maersk CFS 10/04 11/04 TBATBA Maersk Virginia 415W P2904 293597-18/03

16/0417/04 TBATBA Wadi Duka 2407W Asyad Line Seabridge Jeddah, Al Sokhna (Via Jeddah).

TO LOAD FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from NSIGT

04/0405/04 03/04 1000 MSC Pamela IU413A P2898 294007-22/03 MSC MSC Agency Haifa. (INDUS) Hind Terminals

04/0405/04 03/04 1600 MSC Irene IS412A

MSC MSC Agency U.K., North Cont., Scandinavian, Red Sea & Med Ports. Hind Terminals

13/0414/04 13/04 1100 MSC Aries IS413A Q0017 294628-04/01 SCI CMT Barcelona,Felixstowe,Hamburg,Rotterdam,Gioia Tauro, 17/0418/04 17/04 1100 MSC Renee IS414A

U. K. North Continent & Other Mediterranean Ports.

Himalaya Express

NBCL Axis Shpg. Felixstowe, Rotterdam, Hamburg, Antwerp & All Inland Desti. Dronagiri-1 Service

Allcargo Allcargo Log. U.K., North Cont., Scandinavian & Med. Ports. Dron. 2 & Mul.

ICC Line Neptune Felixstowe, Hamburg,Rotterdam & other Inland Dest. GDL-3 & Dron-3

GLS Global Log. U.K., North Continent & Scandinavian Ports. JWR

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genoa.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware

05/0406/04 04/04 1600 MSC Heidi IP414A P2943 1087398-27/03 MSC MSC Agency Antwerp, Le Havre, Rotterdam, Dunkirk, Felixstowe, Southampton, Hind Terminals

12/0413/04 12/04 0900 MSC United VIII IP415A Q0015 294624-04/01 Helsingborg, Gothenburg & Red Sea, Med, Gioia Tauro (D).

19/0420/04 19/04 0900 MSC Vilda X IP416A

SCI CMT Southampton, Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre (EPIC / IPAK)

COSCO COSCO Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports.

Indial Indial Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports.

Seahorse Ship U.K., North Continent, Scandinavian Ports & Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos.

Globelink Globelink WW U.K., North Continent, Scandinavian Ports & Ashdod, Piraeus, Thessaloniki, Athens.

TSS L'Global Ag. U.K., North Continent & Scandinavian Ports. Dronagiri-2

AMI Intl. AMI Global U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Dronagiri-3

Kalko Faredeal U.K., North Continent & Scandinavian Ports. Dronagiri-3

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genova.

Safewater Safewater Lines U.K., North Continent, Red Sea & Med. Ports.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware 06/0407/04 05/04 1200

U.K., North Cont., Scandinavian, Red Sea & Med.Ports. ULA CFS 16/0417/04 TBATBA Frankfurt Express 4312W

Scandinavian,

Iquique, 17/0418/04 17/04 1100 MSC Renee IS414A

Valparaiso,Cartagena,Coronel,San Antonio,Santiago De Cuba,Mariel (Himalaya Express)

Globelink Globelink WW USA, East & West Coast.

05/0406/04 04/04 1600 MSC Heidi IP414A P2943 1087398-27/03 MSC MSC Agency Boston, Philadelphia, Miami, Coronel, Guayaquil, Cartagena, Hind Terminals

12/0413/04 12/04 0900 MSC United VIII IP415A Q0015 294624-04/01 Indial Indial Shpg. San Antonio,Arica,Buenaventura,Callao,La Guaira,Paita, 19/0420/04 19/04 0900 MSC Vilda X IP416A

Globelink Globelink WW USA,Canada,Atlantic & Pacific,South American & West Indies Ports.

Puerto Cabello, Puerto Angamos, Iquique Santiago De Cuba, Mariel (EPIC / IPAK)

AMI Intl. AMI Global South

2414W P2888 294253-27/03 Aladin Line ALX Shpg. Sohar, Sharjah, Hamax, Bahrain, Dammam. (GIX)

05/0406/04 TBATBA Inter Sydney 0153 P2854 293671-18/03 Interworld Efficient Marine Bandar Abbas, Chabahar (BMM)

Alligator Shpg. Aiyer Shpg. Bandar Abbas, Chabahar.

06/0407/04 TBATBA Maersk Kensington 413W P2882 Maersk Line Maersk India Salallah. (MECL) Maersk CFS

06/0407/04 06/04 0600 Abrao Cochin 016W P2783 293057-09/03 SeaLead SeaLead Shpg. Sohar, Jebel Ali. (GIX)

Blue Water Lines PoseidonShpg. Sohar, Jebel Ali, Dammam. Speedy CFS

07/0408/04 TBATBA Maersk Cape Town 415S P2883 293571-18/03 Maersk Line Maersk India Port Qasim, Salallah. (MWE SERVICE) Maersk CFS

10/0411/04 TBATBA AS Clarita 2406W P2893 293918-21/03 Asyad Line Seabridge Sohar, Jebel Ali, Hamad, Dammam. (IEX)

10/0411/04 TBATBA Celsius New Orleans 925W P2869 293830-20/03 ONE Line ONE (India) Jebel Ali.

16/0417/04 TBATBA As Sicilia 933W UnifeederUnifeeder Jebel Ali. (MJI) Dronagiri

15/0416/04 TBATBA Tessa 2402W P2936 294266-27/03 Emirates Emirates Shpg. Jebel Ali, Damman, Sohar. (West Bound)

19/0420/04 TBATBA RDO Favour 02365W P2945 294436-28/03 RCL/CUL Line RCL/Seahorse

21/0422/04 TBATBA ESL Kabir 02414W KMTC KMTC (India) Dronagiri-3

02/0503/05 TBATBA Zhong Gu

TO LOAD FOR WEST ASIA GULF PORTS From GTI

05/0406/04

06/0407/04

10/0411/04 TBATBA Palermo 24013

QNL/Milaha PoseidonShpg. Jebel Ali, Bandar Abbas. Speedy CFS (IMX)

Emirates Emirates Shpg. Jebel Ali, Sohar.

X-Press Feeders Sea Consortium Jebel Ali, Bandar Abbas. Dronagiri

Cordelia Cordelia Cont. Jebel Ali, Sharjah, Abu Dhabi, Ajman, Dammam, Jubail, Hamad, Bahrin, Shuaiba, Shuwaikh, Sohar, Umm Qasr.

Alligator Shpg. Aiyer Shpg. Jebel Ali.

BSS Bhavani

In Port 02/04

04/0405/04

FOR FAR EAST, CHINA & JAPAN PORTS from NSFT

TO LOAD FOR FAR EAST, CHINA & JAPAN PORTS from NSICT

Evergreen Evergreen Shpg. P.Kelang, Tanjun, Pelepas, Singapore, Xingang, Balmer Law. CFS Dron. 09/0411/04

TBATBA TS Ningbo 24002E P2837 293578-18/03 UnifeederUnifeeder Qingdao, Shanghai, Ningbo. Dronagiri 15/0416/04 TBATBA Ever Excel 173E

PIL/ONE PIL India/One(I) —/— 22/0423/04 TBATBA Ever Ethic 167E

Hapag ISS Shpg. P.Kelang, Singapore, Xiangang, Qingdao, Shanghai, Ningbo, Da Chan Bay. ULA CFS 29/0430/04

TBATBA Seattle Bridge 090E

KMTC KMTC (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-3 06/0507/05

TBATBA Shimin 20E

TS Lines TS Lines (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-2 (CISC Service)

HMM HMM Shpg. P.Kelang(S), Singapore, Xiangang,Qingdao, Kaohsiung. Seabird CFS Samudera Samudera Shpg. P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri

CU Lines Seahorse Ship Port Kelang, Singapore, Haiphong, Qingdao, Shanghai, Ningbo.

05/0406/04

06/0407/04

06/0407/04

Cordelia

16/0417/04

16/0417/04 TBATBA Wan Hai 521 E022

Hapag/RCL ISS Shpg./RCL Ag. ULA-CFS/ 23/0424/04 TBATBA Argolikos E160 TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2

30/0401/05 TBATBA Wan Hai 502 E122 (CIX)

03/0405/04 04/04 0900 Wide Alpha 245E P2812 293327-13/03 ONE Line ONE (India) Port Kelang, Singapore, Laem Chabang, 08/0410/04 TBATBA Clemens Schulte 031E P2872

18/0420/04 TBATBA Cap Andreas 010E

21/0423/04 TBATBA San Francisco Bridge 071E

28/0429/04 TBATBA X-Press Bardsey 24003E

04/0405/04 TBATBA Torrance 26E P2937

X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang.

Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri

RCL RCL Ag. Port Kelang, Singapore, Laem Chabang. (TIP Service)

HMM HMM Shpg. Port Kelang(N), Port Kelang(W), Singapore. Seabird CFS

OOCL(I)/RCL Ag Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo, GDL/Dron-1

18/0420/04 TBATBA OOCL Hamburg 149E P2928 294197-26/03 APL CMA CGM Ag. Dron.-3 & Mul.

23/0425/04 TBATBA OOCLLuxembourg 109E ONE Line ONE (India) Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo.

06/0507/05 TBATBA Seamax Startford 129E COSCO COSCO Shpg. Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo.

14/0515/05 TBATBA Xin Da Yang Zhou 093E

Gold Star Star Ship Singapore, Hong Kong, Shanghai.

21/0522/05 TBATBA Zim Haifa 27E ANL CMA CGM Ag. Port Kelang, Singapore (CIX-3) Dron.-3 & Mul.

28/0529/05 TBATBA Aka Bhum 021E

TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2

05/0407/04 05/04 0800 Wan Hai 512 E104 P2880 293861-21/03 Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS

12/0414/04 TBATBA Wan Hai 501 E246 COSCO COSCO Shpg. Ningbo, Shekou.

19/0421/04 TBATBA Interasia Progress E082 InterasiaInterasia (CI2)

26/0428/04 TBATBA Wan Hai 515 E090

HMM HMM Shpg. Port Kelang, Singapore, Hongkong, Kwangyang, Pusan, Shanghai, Ningbo Seabird CFS

03/0505/05 TBATBA Wan Hai 513 E092 CU Lines Seahorse Ship Port Kelang(N), Hongkong, Qingdao, Shanghai.

08/0409/04 TBATBA One Altair 064E P2916 294060-23/03 ONE Line ONE (India) Port Kelang, Singapore, Leme Chabang, Kaimep,

14/0416/04 TBATBA One Arcadia 0068E

Yang Ming Yang Ming(I) Shanghai, Ningbo, Shekou. Contl.War.Corpn.

18/0420/04 TBATBA Conti Conquest 0027E HMM HMM Shpg. Seabird CFS

25/0427/04 TBATBA Conti Crystal 0136E

Samudera Samudera Shpg. Dronagiri (PS3 Service) Gold Star Star Ship Port Kelang, Singapore, Hong Kong, Ningbo, Shanghai Ocean Gate 08/0409/04 TBATBA GSL Nicoletta 415E P2906 293606-18/03 Maersk Line Maersk India Port Kelang, Tanjung Pelepas, Singapore, Hongkong, Maersk CFS 15/0416/04 TBATBA Tina I 416E X-Press Feeders Sea Consortium Kwangyang, Pusan, Hakata, Shanghai. (NWX/FI-3) Sinokor/Heung A Sinokor India Port Kelang, Singapore, Qingdao, Xingang, Pusan Seabird CFS

TBA 0900 MSC Lagos X GA414R P2948 294379-28/03 Vung Tau, Da Chan Bay, Shekou (SENTOSA SHIKRA)

04/0405/04 03/04 1800 Synergy Keelung 011E P2809 293308-13/03 RCL/PIL RCL Ag./PIL Port Kelang, Haophong, Nansha, Shekou.

07/0408/04 TBATBA Kota Layang 094E P2909 294036-23/03 CU Lines Seahorse Ship

12/0413/04 TBATBA API Bhum 007E Evergreen Evergreen Shpg. BalmerLaw.CFSDron.

21/0422/04 TBATBA Kota Loceng 145E InterasiaInterasia (RWA / CIX 4)

28/0429/04 TBATBA SM Tianjin 2414E Emirates Emirates Shpg.

04/0405/04 04/04 1400 Ian H 02410E P2850 293628-18/03 KMTC KMTC (India) Port Kelang(W), Hongkong, Qingdao, Kwangyang, Dronagiri-3

10/0411/04 TBATBA Zhong Gu Ji Nan 24002E P2839 293574-18/03 TS Lines TS Lines (I) Pusan, Ningbo, Shekou, Singapore. Dronagiri-2

15/0417/04 TBATBA KMTC Manila 2402E P2938 294277-27/03 COSCO COSCO Shpg. (AIS SERVICE)

21/0422/04 TBATBA Xin Pu Dong 273E

07/0408/04

Emirates Emirates Shpg. Port Kelang, Hongkong, Qingdao, Kwangyang, Pusan,Ningbo, Shekou, Singapore. Dronagiri-2

TBATBA Interasia Enhance E033 P2853 293657-18/03 Sinokor Sinokor India Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Seabird CFS

10/0411/04 TBATBA Wan Hai 317 E218

16/0418/04 TBATBA Northern Guard E922

Heung A Line Sinokor India Hongkong

Wan Hai Wan Hai Lines (CI6)

23/0425/04 TBATBA Wan Hai 332 E007 InterasiaInterasia

08/0409/04

09/0410/04

Dron-1 & Mul CFS

Feedertech Feedertech/TSA Dronagiri

13/0415/04

30/03/24

The above vessel has arrived at NHAVA SHEVA (NSICT), INDIA on 01-04-2024 with import cargoes from ports BUSAN NEW PORT, CAI MEP (BA RIA VUNG TAU), JAKARTA, LAEM CHABANG, PORT KLANG WESTPORT also transshipment cargo of following Ex. Mother vessels:

to send individual notifications regarding arrival of the vessel or the goods.

Note

APSEZ handles 420 MMT cargo Globally, Domestic Ports handle over 408 MMT

• APSEZ handled its highest ever monthly cargo volumes of over 38 MMT in March 2024

• Eight ports - 84% of the porolio by volume - delivered double digit growth

• 100% broad cargo types – dry, container and liquid – recorded double digit growth

• Mundra Port alone handled more than 7.4 million TEUs, which is over a third of India’s container carg

Cont’d from Pg. 3

This significant contribution by APSEZ underscores its active role in driving India’s growth trajectory It also shows that India’s largest port operator comfortably surpassed its cargo volume guidance of 370 MMT390 MMT provided at the start of the financial year

Mr Karan Adani, Managing Director, APSEZ, said, “While it took 14 years for the company to achieve the first 100 MMT of annual cargo throughput, the second and third 100 MMT throughputs were achieved in 5 years and 3 years. The latest 100 MMT mark has been achieved in less than two years. This is a testament to our ongoing commitment and efforts towards enhancing operational efficiencies and maintaining our position as a top port operator in the industry.”

APSEZ achieved this phenomenal growth by putting customers at the forefront of all its decisions Its approach of strategic partnerships with customers has ensured longt e r m a s s o c i a t i o n s w i t h k e y s t a k e h o l d e r s S u p p o r t e d b y i n v e s t m e n t i n w o r l d - c l a s s infrastructure that has delivered a

high level of operating efficiency and a business model focused on providing an end-to-end solution through last mile connectivity, APSEZ has m a n a g e d t o s u c c e s s f u l l y w i n customers and improve its market share.

W h a t m a k e s t h e s e accomplishments noteworthy is that they were achieved despite multiple challenges, such as the global trade disruptions caused by the Red Sea crisis, the Russia-Ukraine conflict and issues at the Panama Canal, and disruption of operations due to Cyclone Biparjoy and Cyclone Michaung.

This year saw APSEZ achieving various new operational milestones. Its flagship port Mundra became the first in India to handle 16 MMT cargo in a single month (October 2023). Its container terminal CT-3 achieved a milestone of becoming the first in India to handle 3 million TEUs during the year and around 3 lakh TEUs in a single month (November 2023) It berthed the largest-ever vessel at any Indian port (around 399 m-long and 54 m-wide) and handled the highest number of TEUs (16,569) on a single ship, MV MSC Livorno, surpassing

the national best of 16,400 TEUs. It handled over 4,300 vessels, crossing its previous record of 3,938 vessels.

In the container segment, the ports at Mundra, Hazira, Kattupalli and Ennore handled record volumes. Around 44% of the containerised seaborne cargo in India moves through APSEZ ports.

Its container volumes have grown by 2X of India’s container growth (~11% as compared to the all-India growth of ~5%) in the last 5 years. M u n d r a p o r t h a n d l e d r e c o r d container volumes by rail of 1 9 MTEUs, a growth of 12% over last year Till February 2024, the double s t a c k c o e f f i c i e n t w a s 5 9 % a s compared to last year’s 54%.

In the dry cargo segment, ports such as Tuna, Mormugao, Karaikal, Krishnapatnam, Gangavaram and Dhamra handled record volumes this financial year Dhamra berthed its first LNG-powered cape-sized vessel, M V U b u n t u U n i t y , w h i l e Krishnapatnam berthed its largestever vessel with dimensions of LOA 335.9 m and beam 42.9 m. With regard to liquid cargo, Mundra, Kattupalli, Krishnapatnam and Dhamra handled record volumes.

"Just the trailer.." PM Modi heaps praises on the RBI for transforming India in the last 10 years

NEW DELHI/MUMBAI: The Reserve Bank of India has played an appreciation-worthy role in the transformation of India's banking system and the economy in the last ten years, Prime Minister Modi said while speaking at the central bank's 90th anniversary event in Mumbai on Monday, 1st April 2024.

"When I attended RBI's 80th birthday in 2014, the situation was completely different," said Modi

pointing to India's twin balancesheet crisis, banking turmoil.

"India's banking sector was troubled with challenges and problems, be it NPA, stability of the system and its future, everyone was filled with doubts. The situation was so bad that the PSBs weren't able to give Indian economy the required push," Modi reminisced.

However, he said, today the situation has evolved for the better

"The banking system which was on the verge of going bust, is today seeing profits and is setting records when it comes to providing credit. A change like this is just 10 years was not easy it happened because our policies, intentions and decisions were clear," Modi said.

Going ahead, the RBI must think differently, Modi said "Shaktikanta Das is an expert in this regard," the PM said.

India’s GDP set to grow 8% or more in Jan-March quarter : Finance Minister

MUMBAI: India’s gross domestic product (GDP) is on track to grow by 8% or more in the quarter ending March 31, Finance Minister Nirmala Sitharaman said recently The economy is expected to show the same rate of year-on-year expansion for the 2023/24 financial year, Sitharaman added, citing the impact

of improved inflation management and mac

“Hopefully the fourth quarter will also have (growth) of 8% or above 8% resulting in 2023/24 having an average growth in GDP of 8% or over 8%,” Sitharaman said during an event in the financial hub of Mumbai.

Jan-Marchquarterisduetobereleased on May 31. Asia’s third-largest economy grew 8.4% in the October-December quarter year-on-year, outpacing the 7.6% growth recorded for the previous quarter. India’s economy is projected to grow at 7.6% in the current fiscal year to March 31, according to the latest Government estimates.

Logistics sector to grow in Medium term, Global headwinds to impact margins in FY24

MUMBAI: Growth in the logistics sector during F Y 2 4 w a s d r i v e n b y increased mobility amidst s t a b l e d o m e s t i c consumption and buoyant investment demand.

Improved e-commerce s a l e s , g o v e r n m e n t ’ s thrust on infrastructure projects, and expansion of the rural market provided a fillip to the demand for road logistics.

However, high inflation, rising interest rates, and an uncertain global demand scenario impacted domestic demand partly. Owing to their strong linkage to economic activity they acted as headwinds. The operator’s ability to complete the pass-through of operating costs was also affected amid stiff competition, according to industry experts.

Suprio Banerjee, Vice President and Sector Head – Corporate Ratings, ICRA Limited, said, “Due to normalisation of businesses postcovid, and sticky retail diesel prices (though brent crude is down from highs of 2023), companies are unable to raise rates automatically linked to diesel rates, which has impacted the margins for the players in FY2024, since other costs have gone up Cost rationalization measures undertaken have gradually come back to normal, which has resulted in lower margins forthesector”

Over the medium term, he is certain that the logistics sector growth would continue to be driven by demand from varied segments including ecommerce, FMCG, retail, chemicals, pharmaceuticals, and industrial goods, coupled with an industry paradigm shift towards organized logistics players, post GST, and e-way bill implementation.

Role of technology

Technologies can help optimize r o u t e s , v e h i c l e l o a d i n g , a n d s c h e d u l i n g , r e d u c i n g f u e l consumption and delivery times thereby enabling the logistics players to maximize efficiency and respond quickly to the market.

Artificial intelligence (AI) can predict demand patterns, allowing companies to adjust inventory levels and distribution strategies by analyzing historical data and realtime information. It can also monitor and manage the entire supply chain by identifying bottlenecks, mitigating r i s k s , a n d e n s u r i n g s m o o t h operations from procurement to

delivery. Robotics and autonomous vehicles are also streamlining warehouse operations, order picking, and transportation, reducing labor costs and human errors.

“AI-driven optimization, IoTenabled tracking, and blockchainbased transparency can help reduce costs and optimize the operations,” V a r u n G a d a , D i r e c t o r , LP Logiscience, was quoted as saying recently

Government policies

The government policies like PM Gati Shakti and National Logistics Policy (NLP) are aimed at improving the transportation sector’s overall efficiency by integrating road, rail, and sea networks. The Dedicated Freight Corridor (DFC) project also targets to increase the saturation of I n d i a ’ s r a i l w a y n e t w o r k a n d congestion on its road network while keeping pace with its growing freight requirement The policy aims to reduce the logistics costs from the current 12%-14% of the GDP to less than 10%.

The industry suggests that other initiatives like Universal Logistics Interface Platform (ULIP) , and the Open Network for Digital Commerce (ONDC) have the potential to boost trade within and outside the country.

Road ahead

F u e l l e d b y f a c t o r s l i k e urbanization, rising consumer demand, improving infrastructure and reducing spending gap between rural and urban India, Tier2 and 3 c i t i e s i n I n d i a a r e b e c o m i n g increasingly important for the logistics industry

Industry leaders suggest that skill development and support for micro, small, and medium enterprises (MSMEs) are also crucial for the growth of the sector.

ICRA noted that one of the major challenges is the development of infrastructure in India, with an investment in roads, ports, railways, and airports to improve connectivity A well-defined regulatory framework

r e l a t e d t o t a x a t i o n , permits, and licensing to promote transparency is essential Banerjee suggests that proper regulations and processes across states can eliminate barriers to interstate movement of goods, reduce transit t i m e s , a n d e n h a n c e operational efficiency Policies supporting the adoption of technology, such as AI, IoT, and digital platforms, can drive efficiency gains and improve overall productivity.

While efforts have been made to p r o m o t e i n t e r m o d a l f r e i g h t transportation, there are still challenges related to coordination between different modes of transport and regulatory inconsistencies Policy interventions to facilitate seamless intermodal connectivity w o u l d e n h a n c e e f f i c i e n c y and reduce logistics costs, Gada of LP Logiscience said.

While there is a push for green logistics initiatives, compliance with environmental regulations and adoption of sustainable practices can p o s e c h a l l e n g e s f o r l o g i s t i c s companies, particularly smaller players Clear guidelines and i n c e n t i v e s f o r a d o p t i n g environmentally friendly practices w o u l d s u p p o r t i n d u s t r y - w i d e sustainability efforts.

Talking on similar lines, Anand Mimani, CEO, GreenLine Mobility Solutions, was quoted as suggesting t o f o s t e r p u b l i c - p r i v a t e partnerships for infrastructure development projects can help bridge funding gaps and accelerate progress.

“The sector faces challenges related to supply-demand dynamics, fluctuating interest rates, and the difficulty in passing on increased costs to customers To effectively navigate these challenges, logistics operators need to closely monitor market dynamics and adjust pricing strategies to offset rising input costs, thereby maintaining profitability and competitiveness in the industry,” he added.

Addressing these regulatory challenges and implementing appropriate policy interventions will be crucial for unlocking the full potential of the Indian logistics sector and supporting the countr y ’s e c o n o m i c g r o w t h a n d competitiveness.

Indian exporters urge Govt for relief from the 45-day payment rule from MSEs’ purchase

NEW DELHI: Indian exporters sought the government and requested an exemption from the 45-day payment rule for goods purchased from MSEs, emphasising that the norm will impact their businesses. The chiefs of major Export Promotion Councils and Fe d e r a t i o n o f I n d i a n E x p o r t Organisations sent an appeal to Prime Minister Shri Narendra Modi via a letter and urged the government to exempt the exporting firms from Section 43B(h) of the Income Tax law

The new rule, Section 43B(h) of the Income Tax Act, introduced in the Finance Act 2023, is designed to make sure small businesses get paid on time. It allows companies to get tax breaks if they pay their small business suppliers within the time limits set by the MSMED (Micro, Small and Medium Enterprises Development) Act, 2006.

Especially, companies must pay within 45 days if there is an agreement, and within 15 days in the absence of such a pact. If they do not meet these deadlines, they can not deduct these expenses for tax purposes.

“Our humble request is to consider the export community separately for domestic supplies as our challenges and situations are very different. Exporters who receive supplies from micro and small units have been affected as it has impacted their liquidity,” according to the letter dated February 16.

It said that for exports, payment is received with an average time lag of 120

days, although the RBI allows a ninemonth period to realise export proceeds assometimesittakesevenlonger.

“The average lead time for an export consignment is about 90 days compared to a maximum of 14 days for domestic consignments within India Buyers generally pay after receiving the goods, which, with an additional 30 days, makes it 120 days for exports,” the exporting community argued.

Exporters generally maintain larger inventories due to economic and demand factors in the destination market. This has increased further due t o t h e c u r r e n t g e o p o l i t i c a l uncertainties, according to the letter.

“In view of this, we humbly request that in order to provide a level playing field to our exporters compared to exporters from other countries, this provision should not apply to exports. Therefore, the supply of goods from the micro and small units to exporting units, either for manufacturing of export products or for the further exports, should be exempted from this , ” it added.

If the government would not exempt them, the 45 days should be increased to 120 days, it noted.

Exporters said the exporting community supports the move, but the government should consider giving exemptions at least for a few years.

Sharing similar views, the economic think tank Global Trade Research Initiative (GTRI) said that Section 43B(h) is an effort on the part of the

government to support MSE’s financial stability and operational success, but the rule is likely to increase compliance efforts and financial strain for companies.

GTRI founder Ajay Srivastava suggested exempting exporters from the provision altogether

He said the RBI allows nine months for realising money from foreign buyers. China allows long credit lines to its buyers The current provision will immediately start hurting India’s exports from small firms and weaken India’s export story and targets.

“GTRI requests a reconsideration of Section 43B(h), advocating for exemptions for exporters, a nonretrospective application from April 1, 2024, and an inclusive approach that encompasses medium enterprises Let’s ensure our tax policies promote growth, sustainability, and the global c o m p e t i t i v e n e s s o f a l l I n d i a n enterprises,” Srivastava said.

Micro-enterprise is a unit having investment in plant and machinery or equipment not exceeding Rs 10 million and turnover not exceeding Rs 50 million A small enterprise is a unit having investment in plant and machinery or equipment not exceeding Rs 100 million and turnover not exceeding Rs 500 million.

Units having investment in plant and machinery or equipment not exceeding Rs 500 million and turnover not exceeding Rs 2,500 million are medium enterprises.

Dedicated freight corridor looks to ramp-up truck-on-train services

NEW DELHI: The Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) under the Indian Railways is looking to ramp-up its truckon-train services after successful trial runs with both perishables (like milk) a n d n o n - p e r i s h a b l e s ( a u t o components).

At present, the DFC offers truck-ontrain services on both the Eastern and Western Dedicated Freight Corridors.

According to officials of the Dedicated Freight Corridor (DFC), the truck-on-train service is open for all “feasible” goods and products.

“So far we have successfully carried out trials for auto-components, while t h e r e a r e r e g u l a r s e r v i c e s f o r perishables such as milk and cattle feed. Depending on demand, we would like to ramp up services,” a DFCCIL official told.

The truck-on-train service is one where loaded trucks are directly carried to their destinations on railway wagons. This ‘Roll on Roll off’ (Ro-Ro) service that combines road and rail transport, carries trucks on Railway wagons from origin to destination, or on a section of the journey.

Milk trains

According to the official, the milk and cattle feed service was launched in June 2023 The service began with 25 loaded trucks daily oneither side

The trucks carried milk tankers from Gujarat to the National Capital Region, and cattle feed for farmers and milk unions on the return.

For 25 trucks, the earnings are estimated at Rs 8,00,000 per trip.

“At present two trains (with milk a n d c a t t l e f e e d ) r u n o n D F C , with truck-on-train services between New Palanpur-New Rewari and New Rewari-New Palanpur,” the official added

It was found that the transit time for Millennium (milk) trains for Banas Dairy via DFC’s New Palanpur station in Gujarat to Palwal in Haryana, covering a distance of approximately 855 km, was reduced to 14.49 hours, from the previous 23.29 hour

“ T h i s r e s u l t e d i n a n e a r 40 per cent reduction in travel time Now, the milk trains originate from New Palanpur (WDFC) and run on WDFC up to New Prithla in Haryana. From here, they move on the Indian

R a i l w a y s a l i g n m e n t , b e f o r e terminating at Hind Terminals Multi Modal Logistics Park in Palwal,” the official added

Auto-component transport

According to the official, the truckon-train ser vice for auto -parts transportation “is open for all routes of DFC.”

However, at present, the demand does not convert into train load. As of now, auto-ancillaries are transported through truck-on-train trains.

The truck-on-train service for auto components was initiated with three trucks travelling from Gurgaon and Manesar to Gujarat’s Mehsana, with Maruti auto parts. A distance of 700 km was covered in 12 hrs, which typically takes a day by road.

The Rewari station has the capacity to send such trains every three hours and around 250 trucks in a day. And the plan is to expand it to 1,000, another official said.

“We expect this segment to pick up over the years The truck operator saves money on multiple fronts, while t h e i n i t i a t i v e r e d u c e s c a r b o n emissions,” the official said.

CJ-I

CJ-II

CJ-III VACANT

CJ-IV Nord Stark Interocean

CJ-VI

CJ-VII VACANT

CJ-VIII Hoihow Arnav Shpg. 05/04

CJ-IX VACANT

CJ-X VACANT

CJ-XI VACANT

CJ-XII TCI Anand TCI Seaways 03/04

CJ-XIII Seastar Viking Synergy 06/04

CJ-XIV Eva Bristol Chowgule Bros. 04/04

CJ-XV APJ Kais Chowgule Bros. 05/04

CJ-XVA BBG Leader J M Baxi 04/04

CJ-XVI TBC Purpose Mihir & Co. 03/04

TUNA VESSEL'S

Sigma Dariya Shpg. 04/04

OIL JETTY VESSEL'S NAME AGENT'S NAME ETD

OJ-I

OJ-II VACANT OJ-III

OJ-IV

OJ-VI

OJ-VII

GENERAL CARGO VESSELS VESSELS

DUE FOR IMPORT DISCHARGE

SHIPS

LIQUID CARGO VESSELS

SHIPS

WITH EXPORT

CANADA WEST COAST

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSICT

NSIGT

Palermo (V-24011W)

Daphane (V-862W)

Norderney (V-083W)

Kyparissia (V-414S) Maersk India 2372847 29/03

X-Press Mekong (V-24003W)

MSC Rowan (V-IW412A)

Maersk Florence (V-414E) Maersk India 2372886 30/03

CMA CGM Mercantour (V-0FFB81) CMA CGM Ag. (I) 2372891 30/03

Tonsberg (V-OYS11W1) CMA CGM Ag. (I) 2372893 30/03

MSC Floriana VI (V-IB412A) MSC Agency 2372918 31/03

Express Argentina (V-2412W) ISS Shipping 2372922 31/03

CMA CGM Pegasus (V-OPE8RW1) CMA CGM Ag. (I) 2372926 31/03

CMA CGM Lekki (V-OMSIJW1) CMA CGM Ag. (I) 2372927 31/03

Vessel

BMCT

MSC Mexico V (V-IV413A) 30-03-2024 Mundra

Neshat (V-1116S)(NSDT) 30-03-2024 Mombasa

Wadi Duka (V-2405W) 29-03-2024 Mundra

Maersk Sentosa (V-412W) 31-03-2024 Salalah

Norderney (V-083W) 01-04-2024 Jebel Ali

Kyparissia (V-414S) 01-04-2024 Port Qasim

Tonsberg (V-OYS11W1) 02-04-2024 Jebel Ali

Ever Sigma (V-125E)

MSC Mundra VIII (V-IU412A) 28-03-2024 AICT MSC Ilenia (V-FD407E)

Colombo

MSC Maeva (V-IP413A) 30-03-2024 Hazira

MSC Thais (V-IS411A) 31-03-2024 Mundra

MSC Rene (V - XA414A) 01-04-2024 Mundra

MSC Floriana VI (V-IB412A) 02-04-2024 Colombo

SC Mara (V-24012) 29-03-2024 Jebel Ali

Cap San Juan (V-412W) 30-03-2024 Salalah

Wan Hai 311 (V-E231) 30-03-2024 Cochin

X-Press Bardsey (V-24002E) 31-03-2024 Colombo

Seaspan Adonis (V-074E) 01-04-2024 Pipavav

Maersk Florence (V-414E) 01-04-2024 Pipavav

Majd (V-24007W) 26-03-2024 MICT

MSC Bremen (V-JU412R) 26-03-2024 Sohar

Taichung (V-24011W) 26-03-2024 Mundra

Jeju Isand (V-E402) 28-03-2024 MICT

CMA CGM Gemini (V-OPE8VW1) 28-03-2024 ACMT

Advance (V-050W) 28-03-2024 Khalifa

Xin Hongkong (V-069E) 29-03-2024 Pipavav

Hyundai Brave (V-110W) 29-03-2024 AICT

Maersk Cadiz (V-413W) 29-03-2024 Mundra

Ever Ulysses (V-158E) 30-03-2024 AICT

(V-862W)

MSC

SSF

19/20 Darya Jamuna Interocean

21 Adasun Sai Maritime

B.Pier W Huang Pu J. M. Baxi

B.P. Extn. Philippos Wilhelmensen

OCT 1 Staragzer Wilhelmensen

OCT 2 Rosalia Parekh Marine

NSDT/COASTAL/NSDT/COASTAL/ NSDT/COASTAL/NSDT/COASTAL/ NSDT/COASTAL/LIQUIDBERTHLIQUIDBERTH LIQUIDBERTHLIQUIDBERTH LIQUID BERTH

NSD-3 Adinath J M Baxi

LB-1 North Bow Panther GAC

LB-1 South Stolt Suisen Interocean

LB-2 Dawn Haridwar Samsara

LB-3 TTC Vishaka J M Baxi

´´

W. E. F. 27-03-2024

ON 28-03-2024 ´ ´ ´ ´ FOREIGN EXCHANGE RATES

´´ ´´ ´ We are not responsible for any mistake. ALL RATES ARE PROVISIONAL. The rates in this column are only meant for guidance. NAME

US East Coast Ports face challenge of diverted Baltimore cargo : Drewry

LONDON: Maritime industry consultancy Drewry flags potential challenges for the US East Coast ports due to the diversion of Baltimore’s container volumes combined with expected market growth in 2024.

The Port of Baltimore is the busiest in the U S for handling cars and light trucks, processing nearly 850,000 units in 2023 It also managed around half a million passengers, 11 7 million tonnes of general cargo, and a record 1.1 million TEUs of containers last year

With access to the Port of Baltimore cut off by the collapsed Francis Scott Key Bridge, cargo is expected to be diverted to nearby ports, including the ports of Virginia and New York/New Jersey

In terms of container traffic, New York/New Jersey leads the northern part of the US East Coast with 59% of the throughput, according to Drewry. Virginia’s Hampton Roads terminals, primarily Norfolk International Terminal and Virginia International Gateway, handle about 25%, followed by Baltimore at 9%, and Philadelphia at 6%. The remaining traffic goes to

Boston, Wilmington (Delaware), and other smaller terminals.

Drewry’s recent Port Throughput Forecast for North America shows a potential growth of +10.6% YoY for 2024. If Baltimore’s capacity is removed and its container volume is allocated across NY/NJ, Philadelphia, and Hampton Roads terminals, the average utilization rates in 2024 could reach as high as 79%. This high utilization, if sustained, could lead to terminal congestion, especially if the increase in utilization happens within a short period, Drewry says.

Moreover, Drewry says pre-berthing waiting times, an indicator of overall terminal congestion, suggest that supply chains in this market may come under strain. In 2023, despite additional capacity and reduced volumes, waiting times in Baltimore and New York ports have only recently been controlled, averaging 0.2 day in February 2024. Meanwhile, in the Hampton Roads terminals, which had the highest utilization in 2023, waiting times remain at 0.5 day The upcoming months may see these gateways put to the test.

FTAs and new markets will increase India's export to USD 1 trillion by 2030

NEW DELHI: Despite global trade uncertainties, India's exports are charting a new course, bilateral agreements, free trade agreement (FTA) and venturing into uncharted territories like Africa, Latin America, and Central Asia have led to all time high export of USD.

With these new initiatives, India has seen a surprising surge in exports of precious metals, minerals, automobiles, electronics, pharmaceuticals, organic chemicals, textiles, spices and defence equipment.

Exports from India soared 11.9 per cent year-on-year to USD 41.4 billion in February 2024, the highest level since March 2023, boosted by sales of drugs and pharmaceuticals, engineering and electrical goods.

Exports to new markets like Africa, Latin America and Central Asia, have witnessed a significant influx of USD 234 million worth of goods, including cars, two- and three-wheelers, and precious metals, during the April-December 2023 period.

This translates to a 5 per cent growth in exports for key sectors.

FIEO DG Ajay Sahai said, "The medium- to long-term prospects of Indian exports are very encouraging. We are on course to reach the target of USD 1 trillion each in goods and services exports by 2030. However, in the first quarter of the next financial year, some challenges may be faced due to high inflation and geopolitical uncertainties. We expect the US Fed to start reducing the key rates in its next review, which will signal other countries central banks, thus pushing demands."

The focus on new markets, bilateral trade pacts, and FTA's extends beyond value, it will reduce dependence on the traditional export items and foster stronger trade partnerships and economic cooperation across continents.

Sahai said, "The strategy to push FTAs with complimentary economies is showing good results It is win-win situation as while domestic manufacturing gets a boost with duty free imports of raw materials and intermediates while our exports get better market access."

He added, "While we require a minimum 3-5year time frame to assess any FTA, in a very short period we are

seeing growth in the bilateral trade with partner countries of UAE and Australia and exports growth to such countries growing much faster than overall exports. We expect to sign FTA with UK, Oman and Eurasian countries by the next financial year."

India's main export partners are: United States with 15 percent of the total exports, United Arab Emirates, 11 percent, Hong Kong 5 percent, China and Singapore 4 percent each and United Kingdom 3 percent.

Trade with UAE has surged post free trade agreement between the two countries.

FTA talks with the UK are at an advanced stage and a trade pact is likely to be signed after the formation of the new government. India has signed 14 FTA's in 2024, including a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) on March 10, 2024. The EFTA consists of Iceland, Liechtenstein, Norway, and Switzerland

The ongoing Red Sea crisis, which has disrupted traditional shipping routes, is a new challenge to trade. But, India has cleverly turned this adversity into an opportunity. By embracing longer routes via the Cape of Good Hope, new markets in Africa and the Americas are being unlocked.

Sahai said, "While the Red Sea crisis has affected the bottom line of exporters, our top line has not been affected much However, some commodities and low-value, high-volume products have taken a hit Most contracts are not coming for renewal and we have to see if existing buyers are willing to factor in high freight prices. The trend so far suggests that in most of the cases, both sides are mutually settling and agreeing to absorb a part of the high freight."

India's export trajectory is in a positive zone The proactive market diversification strategy, coupled with a focus on innovation and adaptability, positions India as a strong contender in the global trade arena.

With a shrinking trade gap, rising exports, and a growing global presence, India's export story transcends mere economic figures It embodies resilience, strategic foresight, and the potential to reshape the global trade landscape in the years to come.