MUM-09-08-2023

Calcutta Customs House Agents Association hosts 15th FFFAI EC Meeting in Kolkata; Northeast India remains focus area

Cont’d. from Pg. 3 T h e E C Meeting was a t t e n d e d b y t h e O f f i c e Bearers and a large number of EC members of FFFAI consisting of 30 Member Associations from across the country.

Significantly, for the first time some leading Customs Brokers from Guwahati and Shillong of Northeast region were also invited to attend the FFFAI EC meeting to exchange ideas on the potential of this region from the interest of Export Import trade, Customs Brokers, Freight Forwarding and logistics industry According to Mr Shankar Shinde, Chairman, FFFAI, considering the huge importance of the untapped Northeast Region, the Federation would expand its network and strengthen activities in this region to facilitate the Export Import trade, in line with the endeavour of the present Government by creating conducive policies and setting up of required infrastructure for multimodal logistics operations.

In this meeting FFFAI members also put special emphasis on the strategic location of Northeastern Region from multimodal logistics industry’s point of view as well as connecting with neighboring Southeast Asian countries and Bangladesh, Bhutan & Nepal utilizing cost-effective land/multimodal transportation routes

In this regard, opportunities and challenges of utilization of Inland Waterways and Surface Transports have also been discussed. A special session was organized during the EC meeting inviting Mr Aditya Mishra, IPS, Chairman, Land Port Authority of India and Mr. Arvind Kumar, Director, Inland Waterways Authority of India as guest speakers to elaborate on recent developments on land ports and Inland Waterways respectively

Other major topics discussed in the 15th EC Meeting of FFFAI were related to Customs, GST, Ports & Sea Freight, Airport & Airfreight, ICDs, etc. Dissemination of information through various media/channels was also discussed with adequate emphasis. With this objective, the April-June issue of FFFAI Bulletin was released by the office Bearers of FFFAI on this occasion.

Express Business’ profitability bounces back sequentially; Bengaluru hub to come online in August

Volume growth of 5% YoY despite a strong base

HYDERABAD: Gati Limited (GATI) one of India’s leading premier Express Distribution and Supply Chain Management company, has reported its unaudited financial results for the quarter ended June 2023.

Financial Highlights for Express Business

few players. We expect the positive sales momentum to continue in the coming months and to augment our infrastructure build-up efforts, Gati will launch its Bangalore hub in the week of August 15th.

On the technology front as well, Gati continues to take large strides. We recently signed a LoI with a large domestic IT Company to build best-in-class Gati Enterprise management System (GEMS 2.0) on a micro services platform.

Our express business is housed under Gati Express and Supply Chain Pvt. Ltd. (GESCPL), formerly known as Gati KWE (GKEPL).

For Q1FY24, consolidated revenue declined 1% YoY and the EBITDA declined 13% YoY.

Commenting on the results, Mr. Pirojshaw (Phil) Sarkari, MD and CEO of GESCPL said: “Our express business continues to deliver a resilient performance driven by positive momentum in volumes. Q1FY24 volumes were up 5% YoY despite a strong base quarter The base quarter (Q1FY23) benefited from exceptional volumes driven by industry consolidation that benefited

C o n t i n u i n g o u r s a l e s a c c e l e r a t i o n e f f o r t s , w e a p p o i n t e d R a j e s h Gowrinath as Vice President Sales. Rajesh comes with 20+ years of experience across large logistics companies like DHL and BlueDart. We also started a nation-wide GA training program to create an image of our Gati Associates as brand ambassador of the Company.

With this background, we are happy to report a rebound in our profitability sequentially, clocking an EBITDA of Rs 18 crores for our express business The volume outlook appears supportive of our growth plans as we saw pickup in orders from large customers as preparations for upcoming festive season gather pace.“

Indian Register of Shipping and MPUVNL sign MOU towards classification and certification of Solar Boats

MUMBAI: Indian Register of Shipping (IRS), an International ship classification society and Madhya Pradesh Urja Vikas Nigam Ltd (MPUVNL), have signed an MOU t o w a r d s c l a s s i f i c a t i o n a n d certification of Solar-Electric boats thus providing the requisite fillip in the promotion of Government of India’s vision of ‘Atma Nirbhar B h a r a t ’ T h i s i n i t i a t i v e w i l l strengthen the use of renewables with a n o v e r a l l a i m t o p r o m o t e sustainability.

Madhya Pradesh Urja Vikas N i g a m L t d i s a c o r p o r a t i o n established by the Government of Madhya Pradesh as the nodal agency for implementing various programs

and policies of the Government of India as well as State Government in renewable energy sector

The Scope of the MOU covers technical review of the specifications, inspection during construction and certification of material, components, and equipment. IRS will also provide other technical services including review of documents as well as training to MPUVNL personnel.

C h a i r m a n o f M P U V N L Shri. Giriraj Dandotiya stated ‘The partnership will benefit us immensely drawing from subject m a t t e r e x p e r t i s e o f I R S , o u r trustworthy partners, in successful completion of all planned project’.

Shri Vijay Arora, Managing

Director of IRS said: “We are pleased to partner with MPUVNL with an aim to provide high quality technical services to enhance the use of renewable energy We sincerely thank and appreciate the efforts of Chairman – MPUVNL, Shri. Giriraj Dandotiya who was instrumental in t h i s c o l l a b o r a t i o n f r o m conceptualisation to finalisation of the M O U W e a l s o t h a n k f u l l y acknowledge contributions from all senior officials at MPUVNL.”

Managing Director of MPUVNL, Shri. Karamveer Sharma, IAS, said “Through this MOU we will be able to achieve the desired solar potential using the services of a highly reputed technical body such as IRS ’

MOL joins GCMD as Impact Partner to Accelerate Decarbonisation in Maritime Industry

SINGAPORE: The Global Centre for Maritime Decarbonisation (GCMD) and Mitsui O.S.K. Lines, Ltd. (MOL) announced today the signing of a five-year Impact Partnership agreement. On the same day, both parties held a signing ceremony at the GCMD office in Singapore.

Decarbonisation in the maritime industry is a challenge that needs to be achieved through accelerating collaboration and increasing investment by shipping companies, their customers, ports, energy suppliers and public sector actors As an Impact Partner of GCMD, MOL will utilise its expertise developed over their long history and make various contributions and collaborations through its participation in GCMD's projects, including providing access to vessels, operating data and evaluation reports so that internal learnings can be shared publicly and used for future trials.

MOL is one of the world's leaders in the maritime industry and has been leading worldwide discussions on achieving decarbonisation The carbon budget concept imposes a ceiling to the cumulative amount of greenhouse gas (GHG) that can be emitted globally in order to limit global temperature rise to 1 5 degree Celsius by 2050 Intermediate targets to reduce emissions, in addition to a net-zero target, are necessary. While plans are in place to adopt low or zero emissions vessels in the future, it is important to deploy measures to reduce emissions now Such measures include the use of low-carbon and transition fuels that are available today, and deploying energy savings devices onboard vessels MOL will bring its extensive capabilities and experience to bear as it joins GCMD and existing partners to accelerate international shipping's decarbonisation.

TRANSHIPMENT AT COLOMBO TRANSHIPMENT AT PORT KLANG WEST

TRANSHIPMENT AT SINGAPORE

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

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

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

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

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

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

TO LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from NSICT

LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from NSIGT

TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS from GTI

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

Logistic Ser. Jebel Ali, Bandar Abbas.

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.

Bay Line Freight Conn. Port Sudan & Al Sokhna

TO LOAD FOR WEST ASIA GULF PORTS From BMCT

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

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

TO LOAD FOR FAR EAST, CHINA

PORTS from NSICT

TBATBA Ever Ethic 162E P0923 278054-31/07 Evergreen Evergreen Shpg. P.Kelang, Tanjun, Pelepas, Singapore, Xingang, Balmer Law. CFS Dron.

28/0829/08 TBATBA Shimin 15E P0934 278239-03/08 Unifeeder Feedertech/TSA Qingdao, Shanghai, Ningbo. Dronagiri

02/0905/09 TBATBA Wide Alpha 238E

11/0912/09

TBATBA Ever Eagle 174E

PIL/ONE PIL India/One(I) —/—

Hapag ISS Shpg. P.Kelang, Singapore, Xiangang, Qingdao, Shanghai, Ningbo, Da Chan Bay. ULA CFS CISC Service KMTC KMTC (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-3

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

HMM HMM Shpg. P.Kelang(S), Singapore, Xiangang,Qingdao, Kaohsiung. Seabird CFS

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

BSS Bhavani Shpg. Port Kelang, Singapore, Jakarta, Yangoon, Surabaya, Belawan, Ashte CFS

VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT FOR EXPORT LOADING

PORTS from GTI

Star Ship Singapore, Hong Kong, Shanghai.

ANL CMA CGM Ag. Port Kelang, Singapore Dron.-3 & Mul. TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2

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

Fiammetta QS332R

278094-01/08 MSC MSC Agency Port kelang, Singapore, Tanjung Pelepas, Laem Chabang, Hind Terminal

Pusan, Shanghai,Ningbo, Shekou & South East Asia

Far East & China Ports. China India Express Service (CIX/ICX)

Gold Star Star Ship Singapore, Kwangyang, Pusan, Shanghai, Ningbo Ocean Gate Sinokor Sinokor India Port Kelang, Singapore, Hong Kong, Kwangyang,

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSICT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSIGT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from GTI

India poised to become a Global hub for automotive component manufacturing

NEW DELHI: The Indian Auto Component Inc.’s cumulative growth in the last five years has touched 4.1 percent, with the rate of growth (5.7%) in exports being double that of imports, thereby helping reduce the trade deficit, which, in FY19 was pegged at US$ 2.5 billion.

However, with the aggressive push of global automakers to de-risk their supplies and look for alternative sourcing destinations beyond China, broadly termed as the industry’s ‘China+1’ strategy, India is gaining strong momentum in witnessing a heightened interest in demand for Made-in-India components, and as result, is poised to become the global hub in automotive component manufacturing for the world.

Addressing the media at the

announcement of the automotive component industry’s FY23 results, Sunjay Kapur, President, ACMA, said, “The industry has had a great year, and with domestic sales in Europe and the US growing by 3 and 8 percent, respectively, there has been little impact of the looming recession in these regions, therefore driving the exports of components from India.

“ T h e ‘ C h i n a + 1 ’ d e - r i s k i n g strategy of OEMs augurs well for the c o u n t r y t o b e c o m e a g l o b a l manufacturing hub for automotive c o m p o n e n t s T h e t e c h n o l o g y implementation in manufacturing in terms of automation, and Industry 4.0 solutions will strengthen the industry from catering to the demand for the global markets,” he said.

The India Auto Components Inc’s

FY23 exports turnover was pegged at US$ 20.1 billion, up from US$ 19.1 billion a year ago. While the US and European Union, at around 32 percent contribution each, remained the top destinations for components exports from India, robust growth of 27 percent was also witnessed in e x p o r t s o f c o m p o n e n t s t o Latin America. In terms of parts, Indian auto components Inc exports drive and transmission, steering, and engine components among others.

“The industry has had a great year, and with domestic sales in Europe and the US growing by 3 and 8 percent, respectively, there has been little impact of the looming recession in these regions, therefore driving the exports of components from India,” Kapur said.

Exporters seek amnesty scheme on IGST refund issues

Cont’d. from Pg. 3

As per the letter, several exporters received recovery notices flagging their ineligibility in case of exports made on payment of IGST, leading to litigation.

“Hence, validity and legality of Rule 96(10) of the CGST Rules was challenged before the various high

courts,”‘ it said, adding that several grounds for challenge to constitutional validity remain open and the issue is sub-judicebeforevarioushighcourts

This is hindering exporters’ ability to “conduct business with certainty and efficiency” and any delay in providing relief would have a “critical and continuous impact on several

industries in India”, it argued.

“Exporter community is up for a long drawn legal battle. The lack of clarity and retrospective amendments in Rule 96(10) have created irreparable damage of the Indian exporter community,” said PHD Chamber of Commerce and Industry CEO and Secretary General SaurabhSanyalintheletter.

India’s Rice export ban sparks concern that Sugar may be next

NEW DELHI: After India banned some rice exports to control domestic prices, traders are worried another foodstaplecouldbevulnerable:sugar

T h e w o r l d h a s b e c o m e increasingly dependent on sugar exports from the South Asian nation as global supplies tighten Uneven rainfall across India’s agricultural belts has stoked concern that sugar production will fall short, potentially dropping for a second straight year in the season starting October

This may limit the country’s ability to export The government has already restricted overseas sale of wheat and some rice varieties to protect domestic supplies and cool prices, adding to stresses on global food markets that have already been

roiled by bad weather and the worsening conflict in Ukraine.

The rice export ban is a clear signal the government is concerned about food security and inflation, said Henrique Akamine, Head of Sugar and Ethanol at Tropical Research Services. “The worry now is that the government will probably follow suit and do something similar regarding sugar,” he added.

Sugar cane fields in the main producing regions of Maharashtra and Karnataka didn’t get adequate rain in June, leading to crop stress, according to Aditya Jhunjhunwala, President of the Indian Sugar Mills Association. The group expects sugar output to drop 3.4% from a year ago to 31.7 million tons in 2023-24.

Still, Jhunjhunwala said supplies can meet domestic demand.

Meanwhile, India is set to use m o r e s u g a r f o r b i o f u e l The association sees mills diverting 4 5 million tons to make ethanol, up 9.8% from a year earlier

“At this production level, India might not release any export,” said Bruno Lima, head of sugar and ethanol at StoneX “We’ll have to follow closely if the ethanol diversion will be done in full.”

I n d i a ’ s Fo o d S e c r e t a r y Sanjeev Chopra recently criticized ISMA’s assessment of lower sugar production, saying it’s highly premature and has created panic of a shortage in the country, the Press Trust of India reported.

Growth remains elusive in CTS 1H23 scorecard : Drewry

LONDON: The half-year report for loaded container v o l u m e s , m a d e possible by the release of June’s loaded container traffic data by Container Trades Statistics Limited (CTS), shows that the year-on-year deficit is definitely narrowing, but that growth remains tantalisingly out of reach.

According to CTS data, worldwide loaded volumes were down by 1.5% YoY i n J u n e a t 1 5 1 m i l l i o n T E U

The crumb of comfort is that June’s annual decline was the smallest since July 2022 (-0.2% YoY), indicating that growth may arrive shortly.

After six months of the year, CTS’ initial count of world container traffic –not including empties or transhipment –was down by 4.3%.

The last few years have seen significant volatility in growth rates, which can give a distorted view of the overall strength (or lack of) of the market To try and put things in perspective, the trade slowdown this year has brough CTS’ average monthly year-to-date world total down below that of pre-pandemic 2019, by 1 4%, or roughly 200,000 TEU.

CTS’ free regional data pinpoints where the issues are (see other charts) The three big import and export hubs – Asia, North America and Europe – all showed hefty contractions in 1H23 The worst, from a growth perspective, being North American imports at -16.3%.

A g a i n , s o m e p e r s p e c t i v e i s necessary as North American imports only look so bad now because they were

so high in the corresponding period. The region’s monthly 2023 YTD imports were actually 1.1% higher than the 2019 average, beating the global average performance.

Stronger global volumes are expected in the second half of the year to bring the end-year total closer to that of 2022. Drewry recently downgraded its forecast for 2023 total port throughput –w h i c h i n c l u d e s e m p t i e s a n d transhipped boxes as well as laden volumes – down to 0.8%, as per the July monthly update of the Container Forecaster

After all of the dramatic highs and lows of the past few years there can be no doubt that without Covid and Russia’s War in Ukraine the container market’s growth trajectory would have been so much better

Bhutan reaches out for rice amid export ban, India likely to offer it

THIMPHU: Bhutan has requested India to allow rice export to the country after India banned overseas shipments of non-basmati rice, causing global rice prices to rise Bhutan has made a diplomatic request for rice shipments of up to 90,000 tonnes. India’s rice ban allows for exemptions for export under Government-to-Government deals and i n c a s e s o f r e q u e s t s m a d e b y “friendly countries” with genuine foodsecurity needs. India’s share in global rice exports is nearly 40%.

Bhutan has requested India to allow rice export to the Himalayan

kingdom, following India’s July 20 ban on overseas shipments of nonbasmati varieties of the grain, a person aware of the matter has said India’s decision has sent global rice prices soaring

The world’s biggest rice exporter imposed the ban over growing concerns of El Nino, a weather pattern whose effects ripple around the globe, affecting the Indian monsoon and hitting rice output, and Russia’s blockade of Ukraine’sgrainshipments

Bhutan has made a diplomatic request to India for rice shipments of up

to 90,000 tonnes, the person said. Global prices have hit a 12-year high following India’s ban. The FAO’s All-Rice Price Index leapt 129.7 points in July 2023, up 19.6% from a year ago. India’s share in global rice exports is nearly 40%.

I n d i a ’ s r i c e b a n a l l o w s f o r exemptions for export under conditional government-to-government deals and in case of requests made by “friendly countries” which have genuine foodsecurity needs, the person cited above said The same relaxations also apply to the wheat-export ban instituted in May 2022.

m.v.“MSC SONIA” Voy : IW324B

I.G.M. NO. 2351386 Dtd. 07-08-2023 Exch Rate 85.22

The above vessel has arrived on 08-08-2023 at NHAVA SHEVA (BMCT) with import cargo to NHAVA SHEVA from ABU DHABI, COTONOU, SAN-PEDRO, DOUALA, TAKORADI, CONAKRY, UMM QASR PT, SHUAIBA, SHUWAIKH, ONNE, TINCAN/LAGOS, JUBAIL, FREETOWN, LOME, CAPE TOWN, DURBAN, COEGA.

Please note the item Nos. against the B/L Nos. for NHAVA SHEVA (BMCT) 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, Sector11, 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. (IVRS No.) 8169256872

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

Indian economy to grow at 6.7% for next 8 years: S&P Global

NEW DELHI: S&P Global expects India to grow at 6.7 per cent per year from fiscal 2023-24 to fiscal 2030-31, catapulting gross domestic product (GDP) to $6.7 trillion from $3.4 trillion in fiscal 2023. Per capita GDP will rise to about $4,500.

The macro challenge for India in the next decade is to turn traditionally uneven growth into a high and stable trend, S&P Global recently said.

India needs to follow its own unique path due to str uctural differences with East Asian nations, it commented in an article Capital a c c u m u l a t i o n a n d d i g i t a l infrastructure will be growth drivers.

Success will depend on India’s ability to reap its demographic dividend: increase labour force participation, including upskilling; boost private investment, with structural reforms in land, logistics a

competitiveness, driven by foreign

direct investment, S&P Global noted.

G

considerable tailwinds, it cautioned.

Capital accumulation will be the

Investment as a proportion of GDP reached a 10-year high of 34 per cent in fiscal 2022-23. S&P Global expects the Indian private sector to gradually increase investments given healthy corporate balance sheets.

It expects capital to contribute 53 per cent of India’s 6.7 per cent average GDP growth through the end of the decade. That dwarfs a 17 per cent contribution from labour, the other main factor of production. Increases in productivity will generate 30 per cent of GDP growth.

The growth contribution from productivity will be higher than in previous periods Even with India recalibrating toward manufacturing, services will maintain a strong role in the economy, S&P Global noted.

The Indian consumer market will more than double by 2031, surging to $5.2 trillion from $2.3 trillion in 2022, according to S&P Global Market Intelligence’s Global Consumer Markets Service.

Services will remain India’s export growth engine. The sector’s share of total exports has already risen to 42 per cent in fiscal 2022-23 from about 30 per cent in fiscal 201112. S&P Global expects this trend to continue.

India is, however, failing to take full advantage of its large and growing w o r k i n g - a g e p o p u l a t i o n a n d manufacturing’s share of GDP has only risen to about 18 per cent from 15 per cent over the past two decades. By contrast, services’ share has leapt to 55 per cent from 45 per cent.

Manufacturing has been held back by stringent labour laws, subpar logistics and poor infrastructure, S&P added.

Amazon India signs pact with Gujarat Govt, EDII to help boost exports

GANDHINAGAR: Amazon India announced that it has signed a Memorandum of Understanding (MoU) on Monday, 7th August with the Entrepreneurship Development Institute of India (EDII) and the Cottage and Rural Industries Department, Government of Gujarat, to help drive e-commerce exports from the state. Amazon will focus on bringing weavers, artisans and other micro, small and medium enterprises (MSMEs) from Gujarat on Amazon Global Selling, the e-commerce exports programme.

Gujarat Minister for MSMEs, Cottage, Khadi and Rural Industries Shri Balwantsinh Rajput said: “One of our key priorities has been to boost exports from Gujarat and through this partnership with Amazon, we aim to empower lakhs of MSMEs in Gujarat to embrace e-commerce exports.”

The Cottage and Rural Industries Department will identify about 1,000 artisans in handloom and handicrafts through its Hastkala Setu Yojana programme.

Amazon and EDII will conduct

hybrid (in-person and online) training sessions and workshops on B2C e-commerce exports, educating the artisans on registering and listing their products to sell on more t h a n 1 8 A m a z o n G l o b a l Marketplaces and tools for making exports easier.

Director of Global Trade at Amazon India Bhupen Wakankar said the collaboration is a key step towards helping lakhs of MSMEs, weavers and artisans across the state grow their b u s i n e s s g l o b a l l y t h r o u g h ecommerce exports.

APEDA facilitates export of first trial shipment of fresh pomegranate to USA via air

NEW DELHI: In a major boost to fruits exports prospects, Agricultural and Processed Food Products Export Development Authority (APEDA), which works under the aegis of Ministry of Commerce and Industry, has facilitated the export of the first trial shipment of fresh pomegranate to the USA through air route. The first export consignment of pomegranate to USA was initiated by APEDA in collaboration with National Plant Protection Organization (NPPO) of India, the US’s Animal & Plant Health Inspection Service (US-APHIS), Maharashtra State Agricultural Marketing Board (MSAMB), ICARNational Research Centre on P

r (NRC-Solapur) and others.

Shri Abhishek Dev said that the increase in pomegranate exports to the USA would result in higher price realisation and increase in farmers' income. There has been encouraging response from the importers of the pomegranate shipment.

The trial shipment of pomegranate was carried out by the APEDA registered ‘INI Farms’, which is amongst the top exporters of fruits and vegetables from India. It has built a valuechainofbananaandpomegranate by working directly with farmers. As a part of Agrostar group, complete services from agronomy, agri-inputs and off-take is provided to farmers with the produce exported to over 35 countries across the world As the long-distance market and high cost was prohibitive in commencing commercial

operations, the export of trial shipment of pomegranate would help in building capacities amongst Indian exporters and US importers by ensuring that qualityfruitsareexported

In 2022-23, 62,280 metric tonne of pomegranate worth USD 58 36 million was exported to the countries including United Arab Emirates (UAE), Bangladesh, Nepal, Netherlands, Saudi Arabia, Sri Lanka, Thailand, Bahrain, Oman. India is the second largest producer of horticulture crops In 202122, India recorded a total 333.20 million metric tonne (MMT) production of horticulture crops out of which the share of fruits and vegetables is 90% The total production of fruits during 2 0 2 1 - 2 2 w a s 1 0 7 1 0 M M T a n d pomegranate accounted for around 3 MMT

SHIPPING MOVEMENTS AT DEENDAYAL PORT

VESSELS IN PORT & DUE FOR

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

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

TO LOAD FOR U.S.A, CANADA, ATLANTIC, PACIFIC & SOUTHERN AMERICA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

OTHER PORTS OF GUJARAT

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSFT

NSICT

NSIGT

BMCT

18

19/20

21 Jiu Feng Ling M N K Shipping

B.Pier Argos M J M Baxi

B.P. Extn. T Symphony Sea Link

OCT 1 Da Hong 16 Mitsutor

OCT 2

JNPJNP JNPCT/COASTAL/CT/COASTAL/ CT/COASTAL/CT/COASTAL/ CT/COASTAL/LIQUIDBERTHLIQUIDBERTH LIQUIDBERTHLIQUIDBERTH LIQUID BERTH

SB-2 Agrasen Marine Links

SB-3 Sea Delta

Coastal Advaita J M

´´

W. E. F. 04-08-2023

FOREIGN EXCHANGE RATES

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

VESSELS DUE/IN PORT FOR IMPORT DISCHARGE AT MUMBAI

´´

MSC acquires majority stake in AlisCargo Airlines

GENEVA: MSC has acquired the majority stake of AlisCargo Airlines, a Milan-based air freight carrier; the parties confirmed that the transaction is a first step towards the acquisition of 100% of AlisCargo Airlines by MSC, expected to happen at the beginning of 2024, once AlisCargo Airlines will restart operations with the delivery of a Boeing 777F This transaction is yet another step to further developing MSC Air Cargo operations and creates a European gateway and transit point for MSC’s air cargo solutions Furthermore, the deal complements MSC Air Cargo’s aim to expand its existing trade lane network with better coverage and increased flexibility

MSC Air Cargo Senior Vice President Jannie Davel stated: “The acquisition of a majority share in AlisCargo Airlines is a step towards expanding MSC’s Air Cargo solution capabilities, and ultimately providing our customers with a quality and consistent offering. I am equally proud that we have found a partner that shares a common vision with us and has built a strong foundation for which we hope to further develop.”

The majority selling party is represented by the Leali Group, led by Mr. Domenico Alcide Leali who, after the successwithAirDolomitistartedAlisCargoAirlinesin2019

Mr. Giacomo Manzon, General Manager of A l i s C a r g o A i r l i n e s b r i e f l y c o m m e n t e d : “I am proud to see a group like MSC entering as a major shareholder of AlisCargo Airlines and developing further the project that Leali Group has initiated. I am thankful

for MSC’s trust in us, and we will work hard together to make it a success story.”

MSC Air Cargo has been building up its air cargo offering through numerous strategic partnerships with sales agents and software providers. MSC Air Cargo provides a complementary solution to MSC’s core shipping services and operates two aircraft managed by Atlas Air Worldwide between Europe, Central America and Asia and will add two more in the next 6 months. Fo l l o w i n g t h e c o m p l e t i o n o f t h e o p e r a t i o n , MSC Air Cargo will have a new operating license and a fleet of 5 wide-body aircraft within the next 12 months.

Banca Finint acted as financial advisor to Leali Group. Gianni & Origoni acted as legal advisor to MSC and Leali Group, with two separate teams of lawyers from its Milan and Padua offices, respectively.

COSCO SHIPPING Bulk collaborates with Customer to launch 1st Blockchain-Powered eBL for Bulk Cargo

BEIJING: On August 1, COSCO SHIPPING Bulk collaborated with its customer to successfully issue the first electronic bill of lading (eBL) for bulk cargo through the Global Shipping Business Network (GSBN) in Hainan Province. This achievement was made possible by utilizing blockchain technology and digital tools, which have significantly expedited the safe and efficient cross-border trade of bulk cargo. Moreover, it signifies the implementation of the IQAX eBL system in real business scenarios for dry bulk transportation.

This eBL pertained to 75,000 tons of coal transported by the Panamax carrier JIN XIA FENG, which is owned by COSCO SHIPPING Bulk. The ship embarked on its journey from the Port of Newcastle in Australia, destined for China. Once the eBL was issued by COSCO SHIPPING Bulk, it was transferred and verified online by various partners involved in the business chain, including Yancoal Australia, Shandong Energy (Hainan) Intelligent International Technology, Xiamen ITG Energy, Dalian Hexin Zhongli Energy, branches of Bank of China in Sydney, Hainan, and Hong Kong, as well as the Hainan New International Trade Service Platform This development has revolutionized the entire trade process by connecting miners, traders, end users, and banks, thereby providing more efficient solutions for cross-border bulk cargo transportation. In addition, the adoption of eBLs has not only decreased the legal and commercial risks associated with the use of letters of guarantee, but it has also facilitated faster delivery and more efficient processing Furthermore, eBLs have contributed to reducing carbon emissions by minimizing the need for paper documents, saving costs in trade

transactions, accelerating trade speed, and supporting environmentally-friendly trade practices.

The utilization of the IQAX eBL system, with the authorization of trade participants, has effectively connected trade, logistics, and other relevant data with banks and ports. This integration has been instrumental in promoting the development of the Hainan New International Trade Service Platform Moreover, verifying the authenticity of cross-border trade in Hainan Province has reduced banks' risk control expenses in verifying the legitimacy of bills of lading. Consequently, this has stimulated the growth of trade finance and offered improved data support to small and mediumsized enterprises (SMEs) in securing financing and credit for their development.

In2018,COSCOSHIPPINGinitiatedtheGlobalShipping Business Network (GSBN) to revolutionize the shipping industry through blockchain technology GSBN has developed a range of blockchain-powered products to optimize processes, establish trust, improve trade efficiency, and enhance collaboration within the supply chain The goal is to drive the digital transformation of the shipping industry and create a smart supply chain that supports efficient services and seamless trade across logistics and supply chain operations In late 2020, COSCO SHIPPING collaborated with the Bank of China to release the industry's first blockchain-based eBL on GSBN This milestone played a crucial role in facilitating trade through shipping by providing a secure and efficient digital solution The issuance of eBL for bulk cargo is another successful step towards promoting digital, low-carbon, and intelligent tradedevelopmentamongvariouscollaboratingparties.