MUM-09-02-2023

RBI MPC increases repo rate by 25 bps, pegs FY24 inflation at 5.3%

Need to see decisive decline in inflaon, core inflaon

NEW DELHI: The Reserve Bank of India’s Monetary Policy Committee has raised the repo rate by 25 basis points to 6.50 per cent in order to bring inflation back towards the central bank’s 4 per cent target, said Governor Shaktikanta Das onWednesday.

Thedecisionwasnotunanimous with four of the six members of the MPC voting in favour of the rate hike. Ashima Goyal and Jayanth Varmavotedagainstit.

The Standing Deposit Facility (SDF) rate now stands at 6.25 per cent while the Marginal Standing Facility (MSF) rate is at 6.75 per cent. The SDF is the lower bound of the interest rate corridor andtheMSFthehigher.

The MPC also retained its stance of withdrawal of accommodation to ensure that inflation remains on target, Das said.Thedecisiononthestancetoo, sawavotingpatternof4-2,hesaid.

Taking into account the latest interest rate decision, the MPC has raised the repo rate by a total of 250 basis points since May 2022. At6.50percent,thereporateisatits highestsinceFebruary2019.

Das said that inflation is likely to remain above 4 per cent in the next financial year with geopolitical factors, non-oil commodity price pressures and volatile crude oil pricesposingrisks.

India’s economic activity is seen holding up well with the previous rate hikes still working their way, Das said. Consequently, further calibrated action was warranted to break the persistence of core inflation and to anchor inflation expectations, he said, emphasising

that the RBI would continue to maintainastrongvigil.

Withinflationseenat5.6percent in the fourth quarter of 2023-24 (April-March), adjusted for inflation, the policy rate still trails pre-pandemiclevels,Dassaid.

Moreover, with liquidity in the banking system still at a considerablesurplus–banksparked a daily average of Rs 1.6 trillion worth of excess funds with the RBI in January–the stance therefore still remains accommodative,Dassaid.

Das reiterated on Wednesday that the stickiness of core inflation wasamatterofconcernandthatthe RBI would need to see a decisive declineininflation.

Headline CPI inflation declined to a one-year low of 5.72 per cent in December 2022, staying within the RBI’s 2-6 per cent tolerance band but core inflation remained above six per cent. Core inflation, which stripsawaythevolatilecomponents offoodandfuel,hasremainedabove 6percentsinceMay2022.

Das pointed out that the reduction in the size of the RBI’s ratehikesprovidesthecentralbank roomtoweighallincomingdataand forecasts.

Bonds weakened slightly after the policy statement as the RBI governor did not provide any firm indications that the central bank may take a pause on rate hikes going ahead. Yield on the 10-yearbenchmarkbondwaslastat 7.33 per cent, two basis points higherthanpreviousclose.

Inflation, growth forecasts

As a result of a steep decline in vegetable prices, headline CPI

showed a moderation of 105 bps fromOctobertoDecember2022and a likely bumper rabi harvest is seen auguring well for food inflation in thenextfinancialyear,Dassaid.

However, risks to inflation include uncertainty surrounding global commodity prices crude oil, and a possible rise in commodity prices due to easing of COVID restrictions in some parts of the world,Dassaid.

Assuming an average price of $95perbarrelforcrudeoil,theMPC sees CPI inflation at 5.3 per cent in the next financial year. Inflation in thefirstquarterisseenat5percent, followed by 5.4 per cent in the second quarter. The inflation in the third quarter is seen at 5.4 per cent, while that in the last quarter of the next financial year is seen at 5.6 per cent,Dassaid.

The inflation for the current financialyearisseenat6.5percent, hesaid.

Commenting on economic growth prospects, Mr. Das said that factors such as higher rabi output, broad-based credit growth, improved capacity utilisation and the government’s thrust on capital spending and infrastructure had improved the outlook. However, protractedgeopoliticaltensionsand slowing external demand were downsideriskstogrowth,hesaid.

For the next financial year, the MPC projects real GDP growth at 6.4 per cent of GDP. First quarter GDP growth is seen at 7.8 per cent, while the second quarter growth is seen at 6.2 per cent. GDP growth in the third quarter is seen at 6 per centandthatinthefourthquarterat 5.8percent.

sll scky, says RBI Governor

A. P. Moller – Maersk reports strong results for 2022

COPENHAGEN: The Year 2022 was an exceptionally strong year for Maersk. The unprecedented financial results were driven by solid performance across all businesses during the abnormal market conditions in the first part of the year. As congestions eased and declining consumer demand led to a significant destockinginallsegments,theexpectednormalizationofthe Oceanmarketkickedinduringthefinalstretchofyear.

2022 was remarkable in more than one way. While we report the best financial result in the history of the company, we have also taken the partnerships with our customerstoanewlevelbysupportingtheirsupplychains endtoendduringhighlydisruptivetimes.

Cont’d. Pg. 6

Global Container Port Congestion to decline through 2023

LONDON: Pre-berth waiting times showed clear signs of improvement towards the end of 2022 despite, increasing disruption due to transport sector strikes, and thistrendisexpectedtocontinuethrough2023.

After more than two years of widespread port congestion,wearebeginningtoseesignsofimprovement, according to the latest findings from Drewry’s Ports and TerminalsInsight.

Cont’d. Pg. 5

OFFICE OF THE PR COMMISSIONER OF CUSTOMS, (NS-I)

APPRAISING MAIN (IMPORT) APPRAISING (IMPORT) APPRAISING MAIN (IMPORT) APPRAISING (IMPORT) APPRAISING (IMPORT) JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA. CUSTOM HOUSE, NHAVA TAL-URAN, DIST - RAIGAD, MAHARAHTRA - 400707.

F. No.CUS/APR/MISC-6089/2022-AM(Z)

DIN No 20230278NW0000722869

PUBLIC NOTICE NO. 11/2023

Dated : 06-02-2023

Sub. : Waiver of Late fees on account of updation of changes vide Budget 2023-24 reg.

Attention of all Importers/Exporters, Custom Brokers, CFSs, Custodians, General Trade, Partner Government Agencies (PGAs), all other stakeholders and all taxpayers is invited to Budget 2022-23 presented on 1st February 2023. As per the ICES Advisory No. 01/2023 dated 30.01.2023, the System was available only after suitable updation to be made in ICES according to budgetary changes. It is observed that some importers could not file the advance Bills of Entry for the consignments in the vessels granted entry inwards on 01.02.2023 due to the shutdown of services of ICEGATE for the purpose of budget updation in ICES.

2. In view of the above, "late fees" imposable in terms of Bill of Entry (Electronic Integration Declaration and Paperless Processing) Regulations, 2018 vide Notification No.36/2018-Customs (N.T.) dated 11.05.2018 is hereby waived off in respect of Bills of Entry, filed belatedly, pertaining to entry inwards on 02.02.2023. One Day late fee waiver for the advance Bills of Entry to be filed latest by 01.02.2023 is hereby allowed. The ICES has been restored after updation and services for filing of Bills of Entry on ICEGATE were enabled fully on 02.02.2023.

3. Difficulty, if any, faced in the implementation of this public notice may be brought to the notice of the Addl. Commissioner of Customs (Appraising Main (Import), JNCH through email at appraisingmain.jnch@gov.in.

4. This Public Notice should be considered as a Standing Order for the purpose of the Officers and Staff of the department. Sd/-

Global Container Port Congestion to decline through 2023

Cont’d. from Pg. 3 Globally, pre-berth waiting time remained significantly above prepandemic levels through 2020-22. In 2019, waiting time accounted for just over 17% of the total port time, but in both 2021 and 2022 pre-berth waiting hadincreasedtomorethan25%ofthe totalporttime.

There were clear signs of improvement in 2H22, despite rising levels of disruption associated with dock labour and other transport sector strikes. But despite this progress, pre-berth waiting time remains elevated above prepandemic levels, leaving much work todo.

By 4Q22, it was only the North America and Oceania regions where pre-berth waiting remained materially (>10%) above 2019 levels. In contrast, pre-berth waiting time in Europe was 16.6% in 4Q23, just 1.2% abovethe2019averageof15.4%.

While some of the improvement acrossourAfricanportsamplecanbe attributedtohighercallsfollowingthe expansion of capacity at Tanger Med, there has been marked improvement atmanyotherportsacrosstheregion.

Drewry expects port waiting time and congestion to return to prepandemic levels over the course of 2023, thanks to reduced cargo demand, due to lower economic growth combined with a resumption of more normal seasonality. Signs of

the latter are clearly evident in the first few weeks of the year which heralds more predictable times, though continued use of blanked sailings will add to average berth times.

Ports and Terminals Insight – Port industryperformanceandtrends

The Ports and Terminal Insight is a quarterly report (PDF) covering the latest developments in the container ports and terminals market, accompanied by a new monthly report (PDF) providing regular port congestion and performance monitoring (powered by Drewry AIS analytics). It looks behind the data and topicalissuestoanswerboththe‘cause’ and ‘effect’ questions that matter most toseniorindustrystakeholders.

MoPSW : Maritime India Vision (MIV) 2030 estimates investments of over 1 Lakh Cr in Port Infrastructure

NEW DELHI : Maritime India

Vision (MIV) 2030 estimates investments of Rs 1,00,000–1,25,000 crore for capacity augmentation and development of world-class infrastructure at Indian Ports, according to the statement of the ministry of ports, shipping and waterways.

The container throughput of Indian ports stood at 17 million TEUs for the period 2020 whereas that for China stood at 245 million TEUs for the same period. The combined container throughput across top 20 major

global ports stood at 357 million TEUsduringtheperiod2020.

To develop global standard ports in India, Maritime India Vision (MIV) 2030 has identified initiatives such as developing world-class Mega Ports, transhipment hubs and infrastructure modernisation of ports at the investments of INR1,00,000–1,25,000crore.

The upcoming ports at Vizhinjam (Kerala) and Vadhavan (Maharashtra) have natural drafts in excess of 18m that would enable ultra-large container and cargo vessels to call on the ports thereby

boosting the efforts to make India the world’s factory by improving the container and cargo throughput.

At present, India is not having landside mega-port and terminal infrastructuretodealwithUltra-large container ships. Ports need a higher draft, several large cranes, better yard management capability, increased automation, larger storage facilities, more inland connectivity and enhanced labour productivity. Ultra-large container ships seek speedy unloading of the large volumestheycarry.

Export Refinance Facility for augment export credit and increase in interest subvention under IES to 5 and 3% respectively for MSMEs & eligible categories need of the hour:

NEW DELHI:

Reacting to the increase in the Repo Rate by 25 basis points with immediate effect to 6.5 percent, FIEO President, Dr A Sakthivel said this increase is in line with the ongoing initiative and effort of the Reserve Bank of India to contain inflation and the flight of capital looking at such a volatile and challenging global scenario. Recently the US Fed also hiked its rate by 25 basis points and the Bank of England by 50 basis points.

The FIEO President said that global foreign trade is passing through a difficult phase owing to rising inflation, reducing the purchasing power, and countries

entering into recession and high volatility in currencies. In the given scenario, we have to ensure that furtherincreaseinexportcreditrates shouldnotbluntourcompetitiveedge as we are losing out to our competitors in countries with reduced rates of interest and deep depreciationoftheircurrencies.

Dr Sakthivel urged the Government to increase interest subvention under the Interest Equalization Scheme (IES) from 3% and 2% respectively to 5% (to all MSME manufacturers) and 3% (to all other eligible categories) as interest rates are at a much higher level than thepre-covidtimesbesidesextending of tenure of Pre-shipment Credit in Foreign Currency (PCFC) from 180 days to 365 days will further provide

President, FIEO

headroom for the exporting community. At the same time, FIEO Chiefhasadvisedtheexporterstoopt for foreign currency denominated credit which is available at LIBOR+150-200 basis points and provideacomfort,duringtheextreme volatility in dollar, without any hedgingcost.

FIEO Chief also requested RBI to extend "Export Refinance Facility" to banks. Under such a mechanism, banks may be encouraged to provide export credit in Rupee to exporters and the same amount can be refinanced by the RBI at the Repo Rate. Such a mechanism will bring down the interest cost for export credit providing much needed competitiveness to our exports amidstglobalheadwinds.

A. P. Moller – Maersk reports strong results for 2022

Cont’d. from Pg. 3

Ourcommitmenttoprovide visibility and truly integrated logisticssolutionscontinuetoresonatestronglywithour customers for whom it is a strategic imperative to make their supply chains more resilient and sustainable As we enter a year with challenging macro-outlook and new types of uncertainties for our customers, we are determined to speed up our business transformation and increase our operational excellence toseizetheuniqueopportunitiesinfrontofus.

Vincent Clerc, CEO of A.P. Moller - Maersk said, “In 2022, Ocean delivered the strongest result on record due to the high freight rates and strong demand, particularly in the first half of the year Ocean revenue was up 33%. Throughout the year, Ocean continued to deliver on the strategic transformation, maintaining a stable level of long-term contracts. Ocean continued to improve on delivery performance over the year as congestion eased and was able to maintain strong margins due to the contractual nature of its customer relationship.

In Logistics & Services, revenue increased by 47%, withanorganiccontributionof21%.Theorganicrevenue growth came primarily from top 200 customers as the business continues to develop integrated solutions to meet end to end supply chain needs Growth was particularly strong in warehousing where the footprint more than doubled to 7.1m sqm with the acquisition of LFLogisticsaloneadding198warehousesor3.1msqm.

In Terminals, EBIT adjusted for the Russia exit reached a record of USD 1.2bn, supported by solid volumes growth and high congestion related storage income. Based on a combination of tariff increases and efficiencies the impact of high global inflation has been mitigated.

Dividends

The Board of Directors proposes a dividend to the shareholders of DKK 4,300 per share of DKK 1,000 (DKK 2,500 per share of DKK 1,000 previous year) The proposed dividend payment represents a dividend yieldof27.5%(10.7%previousyear)basedontheMaersk B share’s closing price of DKK 15,620 as of 30 December 2022 and 37 5% of net underlying profit Payment is

HIGHLIGHTS

In 2022, A.P . Moller – Maersk (Maersk) delivered extraordinary financial performance in line with full-year guidance; Revenue increased by 32% to USD81.5bn,andEBITincreased57%toUSD30.9bn

Maersk has accelerated its business transformation, expanded the integrated logistics capabilities through acquired companies like Pilot, Senator and LF Logistics, and organically grown Logisticswithmorethan20%

Maersk has defined precise roadmaps to reach its commitment to decarbonize logistics across all transport modes. 70% of the top 200 customers have set carbon goals and supporting them in reaching thesegoalsiscoretoMaersk’sESGstrategy

While the slow-down of the global economy will lead to a softer market inparticularinOcean, Maersk will continue to pursue the growth opportunities withintheLogisticsandTerminalsbusinesses

In this context, Maersk gives 2023 full year EBIT guidanceofUSD2-5bn.

expectedtotakeplaceon31March2023aftertheAnnual GeneralMeeting.

Guidancefor2023

Guidance for 2023 is based on the expectation that inventory correction will be complete by the end of the first half leading to a more balanced demand environment. 2023 global GDP growth is expected to be mutedandglobaloceancontainermarketgrowthtobein a range of -2.5% to +0.5%. A.P . Moller-Maersk expects to growin-linewiththemarket.

Based on these assumptions, for the full year 2023, A.P Moller-Maersk expects an underlying EBITDA of USD 8.0-11.0bn, an underlying EBIT of USD 2.0-5.0bn, and free cash flow (FCF) of at least USD 2 0bn The CAPEX guidance for 2022-2023 of USD 9.0-10.0bn is maintained For 2023-2024 the expectation for accumulated CAPEX is USD 10 0-11 0bn, led by investment in our integrator strategy, technology and decarbonisation Without impacting the financial guidanceandinconjunctionwiththerestructuringofour brands an impairment and restructuring charge of USD450misexpectedinQ1.

MSC Belgium launches Pioneering Technology: ID-Based Container Pick-up

GENEVA:MSCMediterraneanShippingCompanyisthe first shipping company in the world to launch ID-based containerpick-up,followingasuccessfultestphasewithVan Moer Logistics and MSC PSA European Terminal (MPET) in 2022. This technology allows MSC containers to be released for transport using ID and biometric data, rather thanaPINcode,improvingsecurityacrossthesupplychain.

ID-basedcontainerpick-up

The ID-based pick-up process is part of the ongoing rollout of Secure Container Release (SCR) at MPET, which allows MSC containers to be collected at the terminal by scanning the haulier’s Alfapass, biometric data and specific Truck Appointment Reference (TAR) code at the In-Gate, instead of using a PIN code. This combined approach makes thepick-upprocessmoresecureandefficient.

Technology experts T-Mining invested more than five years developing and testing the underlying blockchain technology,usedbySCR,whichMSChassuccessfullytested withpartnersVanMoerLogisticsandMPET

MSC was one of the first carriers to pilot T-Mining's SCR technology almost three years ago. The project is now

enteringthefinalphaseofitsrollout,theobjectiveofwhichis to enable a 100% PIN-code-free, secure process for container release. MSC and MPET are currently the only companies to have reached this final stage, whichwillimprovesecurityacrossthesupplychain.

PreparingforSCR

From1June2023,takingoutacontaineratMPETwillno longer be possible with a PIN code. It will therefore be necessary for everyone involved in the supply chain to prepare accordingly and make it possible to transfer the releaseofacontainerviaSCR.

By transferring the container release rights directly, instead of downloading a PIN code, SCR is in line with current harbor police regulation in Antwerp and the ID-based pick-up technology is further future-proofed by integrating biometric information into the collection process.

Integrating this technology will increase security for employees and cargo across the supply chain More information on how to prepare is available here: www.securecontainerrelease.com/nopincodesplease.

FOR EXPORT LOADING

FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from NSICT

(EPIC

Gioia Tauro (D).

ANL CMA CGM Ag. Southampton, Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre, Dron-3 & Mul Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos. SCI/Hapag CMT/ISS Shpg. Southampton, Rotterdam,Antwerp,Dunkirk, Felixstowe, Le Havre —/ULA CFS 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,

Unifeeder Group Unifeeder Ag. U.K., North Continent & Scandinavian Ports. Dron.2 & TLP 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

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

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ASIA GULF PORTS From NSICT

14/0215/02

21/0222/02

TO

FOR WEST ASIA GULF PORTS From NSIGT

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Shpg. Aiyer Shpg. Jebel Ali.

Cordelia Cordelia Cont. West Asia Gulf Ports.

Bay Line Freight Conn. Port Sudan & Al Sokhna

Montpellier 030E N2139 Global Feeder Sima Marine Jebel Ali, Bandar Abbas.

TBATBA X-Press Altair 23005E

(NMG)

Unifeeder Group Transworld Shpg. Jebel Ali, Bandar Abbas.

Emirates Emirates Shpg. Jebel Ali, Sohar.

LMR Logistic Ser. Jebel Ali, Bandar Abbas.

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

Hapag ISS Shpg. ULA CFS

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

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

Alligator Shpg. Aiyer Shpg. Jebel Ali.

BSS Bhavani Shpg. Jebel Ali, Doha, Kuwait, Bahrain, Bandar Abbas. Ashte CFS

Seahorse Ship Gulf Ports.

LMT Orchid Gulf Ports.

Dronagiri-3

Bay Line Freight Conn. Port Sudan & Al Sokhna CWC, GDL & DRT

ICC Line Neptune UAE & Upper Gulf Ports. GDL-5

Ceekay Parekh Gulf Ports.

Team Leader Team Leader Dubai, Jebel Ali

GDL-2

JWR CFS

Team Lines Team Global Log. Gulf Ports. JWR Logistics

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PORTS from GTI

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Port

Hongkong, Qingdao, Kwangyang, Dronagiri-3

17/0218/02 TBATBA KMTC Delhi 2301E N2144 264830-02/02 TS Lines TS Lines (I) Pusan, Ningbo, Shekou, Singapore. Dronagiri-2 24/0225/02 TBATBA Tabea 2305E COSCO COSCO Shpg. (AIS SERVICE)

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

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APSEZ 9M EBITDA grows by 19%

AHMEDABAD: Adani Ports and Special Economic Zone Ltd (“APSEZ”), today announced its results for the third quarter and nine monthsended31December2022.

Withthehighesteverrevenueand EBITDA over a nine-month period, ASPEZ is well placed to achieve the upper end of its full year revenue and EBITDA guidance provided for FY23. The company also concluded the transactions of Haifa Port Company, IOTL,ICDTumb,OceanSparkle,and GangavaramPort,andisprogressing well on transitioning its business model to a transport utility, said Mr. Karan Adani, CEO and WholeTimeDirectorofAdaniPorts andSpecialEconomicZone.

Continuing with our growth journey, APSEZ is targeting FY24 EBITDA of Rs 14,500-15,000 Cr. Besides an estimated capital expenditure of INR 4,000-4,500 Cr, we are considering total loan repaymentandprepaymentofaround Rs 5,000 Cr, which will significantly improve our Net Debt to EBITDA ratio and bring it closer to 2.5x by March24”addedMr.KaranAdani.

Robust Operational

Performance: During 9M FY23, APSEZ handled ~24% of the country’s total cargo and retained its leadership position of being the India’s largest port operator. Port EBITDA grew 20% Y-o-Y to Rs 9562 Cr, on the back of strong improvement in realizations and cargo volume growth. With port EBITDA margin at ~70%, APSEZ continues to be one of the most profitable port companies globally. Given our increased focus of providing supply chain solutions to our customers at their door step our logistics business segment is experiencing a phenomenal growth. EBITDA of logistics business segment jumped 66% Y-o-Y to Rs 354 Cr, supported by margin expansion of 400bps with improved utilization of assets and increased shareoftheGPWISrevenuestream.

Strong Capital Structure: APSEZ’snetdebttoEBITDAratiois well within our guided range of 3-3.5x, while our gearing ratio is below one. The performance across various debt covenants has been better than the desired levels. We have an impeccable track record of fulfilling our debt obligations,

and our internal accruals enable us to meet the scheduled debt repayment for any of the financial yearswithoutanymajorchallenges.

Well positioned for growth with multiplecatalysts:Weareconfidentof continuingourstrongperformancein the coming quarters given the presence of various catalysts, particularly the operational ramp up offacilitiescommissioned/acquiredin thelastfewmonths:

In the port business segment, the new additions include- (i) the Haifa Port Company in Israel (~20 MMT), (ii) new container terminal at Gangavaram (6 lakh TEU), (iii) liquid storage tanks at Katupalli, (iv) 5 MMT LNGterminalatDhamrainApril2023, and (v) Karaikal Port (17.5 MMT), for which APSEZ has received the LoI,subjecttoNCLTapproval.

New assets in the logistics business segment include(i) recently acquired ICD Tumb (one of India’s largest with a capacity of 0.5 MTEUs), (ii) Taloja MMLP, (iii) three agri-silo terminals, (iv) warehousing capacity of 0.6 Mn sq. ft, (v) 12 new trains and (vi) Kila Raipur MMLP, which restartedoperations12monthsback.

China: Ports record increase in freight traffic volumes in 2022

SHANGHAI: China’s ports are seeing a rebound in shipping container traffic with expectations that volumes will continue to grow. Dai Kaiyi reports from one of the country’s busiest inland ports on the YangtzeRiver.

High above the ground, crane operator Li Xianhui is moving full speed ahead to unload the next container.

LI XIANHUI Crane Operator, Yueyang Xingang Co., Hunan Provincial Port Group “Enterprises have resumed work and production aftertheLunarNewYearholiday,and my job is starting to get busier. The workload is full, and I just keep going untilmyshiftends.”

Chenglingji Port, where he works, is located on the Yangtze River. It is a hub for land and water cargo transit, and one of the busiest inland ports in China.Operatingatfullcapacityonce again, it’s seeing more production linesrunningasshipmentsarrive.

The port processed more than one-million containers in 2022, making it the third port along the middle and upper sections of China’s

longest river to reach that mark. Imports and exports surpassed 70 billion yuan, or 10 billion US dollars, duringthesameperiod.

YIN XIANDONG Executive Deputy, General Manager of Hunan Port Group “The port is a barometer of our export-oriented economic development. I think it plays a very good supporting role for the development of Hunan Province and theentirecentralregion.”

Five terminals at Chenglingji Port are designated for vehicle, meat, grain, fruit, and timber imports. The port also connects China’s river systems to the sea through eastern Shanghai Port, linking inland areas with ports in Europe, the United StatesandOceania.

YIN XIANDONG Executive Deputy General Manager, Hunan Port Group “With the promotion of our country’s ‘dual circulation’ system in the economy, our imports will increase significantly. We import thingslikefood,ironoreandcoal,and through a unified domestic market that China is building, seaports and inland ports can connect with each

other to achieve direct river-sea combinedtransportation.”

Transport ministry data shows China’s ports processed 15.7 billion tonsofcargoin2022–closetooneper cent more than the previous year. In the same period, port container throughput increased by 4.7 per cent, to290milliontons.

WANG DONGHUI, Director and Secretary of the Party Committee, Yueyang Customs

“This year, Yueyang Customs will focus on giving full play to Yueyang’s platform advantages of ‘three districts, one port and five docks’, promote the combined customs clearance mode, and the smooth operation of international directshipping,aswellascombined water-rail transport. We will push forward with the deep integration of Yueyang Chenglingji Port into the development of the Yangtze River EconomicBelt.”

Chenglingji Port authorities are aiming to increase the volume of cargo handled by 25 per cent in 2023. Dai Kaiyi, CGTN, in Yueyang, Hunan Province.

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Vietnam,

NOTICE TO CONSIGNEES

m.v. “MSC NOA” V- IU305A I.G.M. No. 2334793 Dt. 07-02-2023 Exch. Rate 84.08

The above vessel has arrived on 09-02-2023 at NHAVA SHEVA (NSIGT) with import cargo to NHAVA SHEVA from ABU DHABI, JEBEL ALI, MONTREAL, PLOCE, HAIFA, ANCONA, RAVENNA, SALERNO, LA SPEZIA, VENICE, ALTAMIRA, VERACRUZ, SAN JUAN, TUNIS, BALTIMORE, BOSTON, HOUSTON, MIAMI, MOBILE. Please note the item Nos. against the B/L Nos. for NHAVA SHEVA (NSIGT) delivery.

Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for Nhava Sheva delivery. Consignees are requested to collect Delivery Order for all imports delivered at Nhava Sheva from our Import Documentation Dept. at Nhava Sheva - DN210 / DN211 / DN212, D-Wing, 2nd Floor, NMSEZ Commercial Complex, Plot No. 6, Sector - 11, Opp. JNPT Township, Dronagiri Node, Navi Mumbai - 400 707 , India and Mumbai - 1st Floor, MSC House, Andheri Kurla Road, Andheri (East), Mumbai - 400059 on presentation of duly discharged Original Bill of Lading and payment of relevant charges.

The container detention charges will be applicable after standard free days from the discharge of containers meant for delivery at Nhava Sheva. The containers meant for movement by road to inland destinations will be dispatched upon receipt of required documents from consignees/receivers and the consignees will be liable for payment of port storage charges in case of delay in submission of these documents. Our Surveyors are M/s. Zircon Marine Services Private Limited. 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. Incase of any query, kindly contact Import Customer Service - (022) 66378123; IN363-imports.mumbai@msc.com

Get IGM No. / ITEM No. /CFS details on our 24hrs computerized helpline No. 8169256872

You can also visit our website: www.msc.com/ind/help-centre/tools/import-general-manifest-information

As Agents :

NHAVA SHEVA

SHIPPING MOVEMENTS AT DEENDAYAL PORT

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

SHIPS SAILED WITH NEXT

LIQUID CARGO VESSELS

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

VESSELS DUE

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

(AICT)

CONTAINER VESSELS DUE / IN PORT FOR

ADANI CMA MUNDRA CONTAINER TERMINAL PVT LTD (ACMTPL), MUNDRA

TO LOAD FOR U. K. NORTH CONTINENT, MEDITERRANEAN, BLACK SEA, RED SEA, EAST EUROPE & CIS PORT

Line

India Cintan Apapa, Tema, Cotonou, Lome, Capetown. (MIDAS-2)

Matadi, Lome, Luanda, Point Noire, Apapa, Apapa,

Abidjan. (MIDAS)

TO LOAD FOR FAR EAST JAPAN, CHINESE PORTS & AUSTRALIAN PORTS

ADANI MUNDRA AUTOMOBILE TERMINAL

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

NB The data in this Daily pertaining to Ports Information is received by us, sometimes even at the eleventh hour by telephonic messages from the concerned Steamer Agents. Therefore, there is every likelihood of last minute change in the data published the Management of Daily Shipping Times exercise every necessary care & attention in collecting every data & getting it published accurately Inspite of this, if any

AAL expands presence in the Middle East in support of Positive Trade Outlook for the region

DUBAI: Since establishing its AAL Middle East representative office in Dubai in early 2015, AAL Shipping’s (AAL) commercial presence in the region has grown to the point that the carrier is operating at least one scheduled multipurpose heavy lift cargo sailing through the region each month (via its Europe, Middle East / India, Asia Liner Service), with additionaltrampsailingsinsupportofcustomerdemand.

Connecting the Middle East with these markets and developing trades with Southeast Asia, the US and Africa, AAL is expanding its local capabilities with the promotion of Karim Smaili to General Manager – Middle East and the appointment of a Cargo Superintendent to oversee its local projectcargooperations.

Karim Smaili, General Manager of AAL Middle East, commented, “The Middle East has witnessed significant economic diversification and expansion of its industrial trade relationsandcapabilitiesoverthepastfewyears.

“The region is not only importing project cargo to meet local need but also exporting steel and locally fabricated projectheavyliftcomponents.

“We are also seeing trade lanes expand and develop with Southeast Asia, Africa, and the US strengthening ties on the back of widespread international reengagement with the region and geo-political uncertainty surrounding other areas oftheworld.

“With our well-established trade routes connecting all these regions, we can provide the global ocean transport solutionsneeded.”

He added, “AAL’s growth within this highly competitive market can be attributed to the regularity of our sailings, dependabilityofservice,andflexibilityofourcargooperations

– especially with the complex cargoes we often carry and the challenges of the market and in-port operations before and duringthepandemic.

“As well as already operating monthly liner sailings on the busy trade route from Europe to Asia via the Middle East and India, we are also looking at westbound sailings from Asia to the Mediterranean and Continent calling India and the PersianGulfenroute.”

AAL’s Managing Director, Christophe Grammare, concluded, “A strong and well-established local presence is important to helping us deliver the service standards that the market has come to expect from AAL – especially considering that the economic outlook for the Middle East and its multipurposecargotradeisverypositive.

“The region will continue to be a beneficiary of inward investment from companies looking for stability in energy costs and availability – so infrastructure is planned to support thatdevelopment.

“There are also power generation, oil and gas and other industrial projects coming into focus and, with Cop28 taking centre stage in the UAE (November 2023), there will be more attention paid to the expansion of renewable energy infrastructureandsustainabilityprojectslikesmartcities.

“These developments, along with ongoing social changes, are indicative of reforms throughout the Middle East to expand and diversify its economy and international trade and AALisincrediblyhappytobeonthefrontlinetosupportthat.”