YEARS
Vol. LX No. 138 FRIDAY 7th AUGUST 2020
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Cranes collapse at JNPT due to cyclonic winds NAVI MUMBAI: Three rail mounted quay cranes used for loading and unloading containers at the terminal run by Jawaharlal Nehru Port Trust (JNPT) collapsed in high velocity winds that lashed Mumbai on Wednesday, 5th August. It is learnt that three quay cranes that collapsed were built at South Korea’s Doosan Heavy Industries & Construction Co Ltd. The JNPT-run terminal known as JNPCT has eight rail mounted quay cranes or so-called ship to shore cranes along its 680-metre berth length. Senior official from JNPT said that owing to inclement weather and above normal gusts of wind, there has been damage to three cranes at JNPCT. However, there were no injuries and everyone is safe. The exact damage is being ascertained. Shipping industry sources said that the cranes have fallen in the middle of the berth, which may hamper the operation to some extent for few days.
Railways introduces 5% discount for Container train movement NEW DELHI: To attract more containers to the rail mode, the Indian Railways has notified a discount of five per cent in the freight rates it charges to the container train operators, which will be valid for the remaining part of the fiscal. These discounts, which set in from August 4 this year, will be valid till April 30 next year. This is another step in a series of measures that the Indian Railways has taken to get more freight onto its fold, at a time when India is facing lower demand during Covid-19 pandemic. This also fits into India’s overall scheme to lower the logistics costs. The move, however, does not satiate the private container train operators (CTOs), who had been wanting to waive off of entire haulage charges on movement of empty containers.
The Association of Container Train Operators (ACTO) had sought continuation of waiving off-of haulage charges for moving empty boxes. While welcoming the move, a container train operator told, “Most of the private container train operators are burning cash. This move will lower the extent of cash burn. But there is an export-import imbalance. For every 90 boxes (sized twenty feet equivalent unit) of exports, there are 30 boxes for imports.” Recently, the Indian Railways had said that it would consider introducing more measures to attract goods onto its fold. These steps are being taken in the pandemic year when the Railways is increasingly having to bank on freight movement for its revenues. Cont’d. Pg. 2
DGFT in revamping mode to address Trade issues NEW DELHI: The Directorate General of Foreign Trade (DGFT) is undergoing a revamp to address issues related to trade barriers as well as help build capacities to accelerate exports, said the Oorganisation’s Chief recently. The body is working in consultation with the industry to augment domestic manufacturing and boost exports in several electronics and hardware items, especially those in the healthcare and pharmaceutical sector. The development comes after the government earlier this year had to block exports of crucial devices like ventilators when it was found that there was not enough domestic capacity for these products to allow the industry to meet foreign commitments. The DGFT recently lifted the ban on exports after sufficient capacity had been created and seeing as the case fatality rate in the country was low, which meant less people needed to be on ventilators. According to DGFT Amit Yadav, the body is in an “overhaul” mode and several changes are being introduced to respond to present challenges. “By the end of this year, we hope to complete the overhaul work and many changes will be brought about to address the trade barriers and to ensure ease of doing business,” he said while addressing an interactive webinar organised by the Electronics and Computer Software Export Promotion Cont’d. Pg. 2 Council (ESC).
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