MUM-03-11-2020

Page 1

YEARS

Vol. LX No. 196 rd TUESDAY 3 NOVEMBER 2020

E-Mail: dailyshipping@gmail.com

Rajiv Jalota appointed New Chairman of Mumbai Port Trust MUMBAI : The Central Gover nment appointed Senior Indian Administrative Service (IAS) ofcial Mr. Rajiv Jalota as new Chairman of Mumbai Port Trust under the Ministry of Shipping for four years. The 1988-batch Maharashtra cadre official, Mr. Jalota, will succeed incumbent IAS official Mr. Sanjay Bhatia, a 1985-batch Maharashtra cadre official. The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal of Ministry of Shipping appointing Mr. Jalota as Chairman of Mumbai Port Trust up to September 30, 2024, the date of his superannuation, or until further orders whichever is earlier, said a Ministry of Personnel order.

Mr. Rajiv Jalota, who is the first G o o d s a n d S e r v i c e s Ta x ( G S T ) Commissioner of the State, is currently the Additional Chief Secretary in higher and technical education department of the State Government. H e f i r s t s e r v e d a s S a l e s Ta x Commissioner and then as GST Commissioner from January 2015 to January 2020. Mr. Jalota has also Mr. Rajiv Jalota ser ved as Additional Municipal Commissioner of the Brihanmumbai Municipal Corporation, collector of Yavatmal and Latur districts among his other postings in various state bodies and departments.

ONE makes giant leap in quarterly prot SINGAPORE: Ocean Network Express (ONE) recently reported that its quarterly profit “significantly increased” — by a whopping 326%. The Singapore-based container carrier said the profit for the second quarter of its 2020 fiscal year was $515 million, a $394 million leap from the $121 million profit in the same period last year. ONE’s fiscal year runs from April 1 to March 31. “This increase is mainly due to the improvements in the short-term freight market following a return to steady cargo demand,” ONE said. “From Q1 and through Q2, the supplyand-demand balance improved for all trades, most notably

Adani Group will handle management of the ECT Colombo Terminal operations COLOMBO: Sri Lanka has decided that India’s Adani Group will handle management of the East Container Terminal (ECT) operations. Sri Lanka Port Authority (SLPA) sources have indicated that authorities have conceptualized the operations of the ECT by handing over management of the terminal to the Indian governmentpreferred Adani Group which will have a 49 per cent stake along with its local partner – John Keells Holdings. SLPA will hold 51 per cent of the stake. Adani Group is also building a port in Vizhingham to act in competition to the Colombo Port at the time they commenced work. A Cabinet decision recently taken by the Sri Lankan Government had been sent down to the SLPA to commence operations at the ECT immediately and in this respect the vessel that had already been in the harbour had been brought into the terminal sans pomp and ceremony, SLPA Chairman Gen. Daya Ratnayaka was quoted as saying. He noted “We were so lucky” to have a vessel to bring in to commence operations adding that it is a huge relief in getting things started. The Colombo Port has been getting congested lately and operationalizing the terminal will be advantageous, port sources said.

No Cartel Behind High Freight By Capt.

P S. Rath

..See Pg. 4

Asia-North America trade liftings recovering to the level of the previous year and other trades also performing steadily.” In an analysis posted on his LinkedIn page recently, SeaIntelligence Consulting CEO Lars Jensen granted that ONE’s results showed “good and solid improvement.” But he went on to say, “Looking a bit further into the data, a few additional details should be noted.” Jensen said ONE’s trans-Pacific volume “increased only 0.9% year-on-year, which is well short of the 11.1% growth reported by OOCL. ONE saw their headhaul rate increase 13.3% versus OOCL’s 6.5% increase.” He noted that OOCL only reports total trans-Pacific Cont’d. Back Pg. volumes with both directions included.


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.