MUM-10-08-2023

Eastern Dedicated Freight Corridor commissioning likely by this year end: Railway Board official

NEW DELHI: Indian Railways is planning to operationalise over 1,300 route km of the Eastern Dedicated Freight Corridor by the end of this year, a senior Railway Board member aware of the developments told.

O n A u g u s t 2 , t h e R a i l w a y s completed track linking work on the Sonnagar – Ludhiana stretch, and as per Railway officials over 77 per cent of the project has been commissioned by June-end.

Track linking and commissioning of small parts of the Eastern Dedicated Freight Corridor are already underway.

The current 1,337 route km, that is being developed by the Railways, passes by Sahnewal in Punjab, crosses through two other states –Uttar Pradesh and Haryana – and terminates at Sonnagar in Bihar.

Another part of 538 route km – also a part of the Eastern Dedicated Freight Corridor – between Sonnagar and West Bengal’s Dankuni was proposed to be developed under a PPP model.

The Eastern Dedicated Freight

Corridor originally had a route length of over 1,850 km, traversing through six states – Punjab (89 km), Haryana (72 km), UP (1078 km), Bihar (239 km), Jharkhand (195 km) and West Bengal (203 km) and consists of two distinct segments

an electrified double-track segment of 1,409kmbetweenDankuniinWestBengal and Khurja in Uttar Pradesh, and an electrified single-track segment of 447 km across Ludhiana (Dhandarikalan) –Khurja – Dadri in the state of Punjab, HaryanaandUttarPradesh

Due to non-availability of space near important city centers and industrial townships, the alignment of the corridor takes a detour to bypass densely populated towns such as DDU (Deen Dayal Upadhyay), Allahabad, Kanpur, Etawah, Ferozabad, Tundla, Barhan, Hathras, Aligarh, Hapur, Meerut, Saharanpur, Ambala, Rajpura, Sirhind, Doraha and Sanehwal.

The Eastern Corridor is targeted at coal-bearing regions, movement of finished steel, food grains, cement, fertilisers, limestone from Rajasthan to

steel plants in the east, and general goods. It is expected to bring down costs substantially

“The Dedicated Freight Corridor alignment, except a stretch between JNPT (Jawahar Nehru Port Trust) and Vaitarna, is expected to be operational by this year-end,” the official said adding that with land issues along the stretch now being resolved, “it should take another year for this segment to be operational”.

The Eastern Dedicated Freight Corridor will meet the Western Dedicated Freight Corridor at Dadri in Uttar Pradesh.

The official said, 1,046 km of Western Dedicated Freight Corridor and 1,150 km of Eastern Dedicated Freight Corridor (total 2,196 km) have already been commissioned. The Western leg of this Dedicated Freight Corridor will connect Dadri in Uttar Pradesh to JNPT port in Mumbai and will pass through Haryana (177 km), Rajasthan (565 km), Gujarat (565 km) and Maharashtra (177 km), in addition to UP

Industrial, logistics leasing jumps 35% across 8 cities in Jan-June: Report

MUMBAI: Leasing activity in India’s industrial & logistics sector surged to 19.1 million sq. ft. across eight major cities during the first half of 2023 (Jan-Jun), marking a substantial 35% year-on-year increase, according to a report by CBRE South Asia Pvt. Ltd.

Leasing activity was led by DelhiN C R , M u m b a i , a n d C h e n n a i , accounting for a collective 60% share in total leasing during January-June Notably, all cities, except Bengaluru, exhibited a discernible upswing in I&L leasing as compared to the same period in the previous year

The report suggests that festival season sales are likely to contribute to sustained leasing activity during July-December

The supply side also witnessed impressive growth, recording a s u b s t a n t i a l 7 8 % Yo Y i n c r e a s e , culminating at 17 7 million sq ft during Jan-Jun This surge was attributed to the culmination of pent-up supply in select cities Key contributors to this growth were Chennai, Kolkata, and Mumbai, collectively accounting for more than half of the total project completions Major developers, backed by institutional funds, played a crucial role in this supply surge, contributing approximately 39% to the overall supply during the same period

P r o j e c t c o m p l e t i o n s w e r e predominantly observed in DelhiNCR, followed by Chennai and Hyderabad, collectively representing

over two-thirds of project finalizations.

The report also underscored the dominance of third-party logistics (3PL) players in leasing activity, capturing a substantial 43% share during Jan-Jun. This trend was attributed to the outsourcing of supply chain processes b y e - c o m m e r c e , r e t a i l , a n d manufacturing entities to 3PL firms, enabling them to optimize storage needs, enhance flexibility, and curtail operational costs.

E-commerce and retail sectors collectively accounted for a 9% share each in leasing activity, while other sectors such as auto & ancillary (7%), FMCG (6%), and electronics and electricals (5%) also contributed to the overall leasing landscape.

See Pg. 13

APM Terminals Pipavav consolidated net profit rises 14% to INR 678.26 million in Q1FY24 (INR 593.39 million Q1FY23)

India-Vietnam agree to explore direct shipping services, collaboration in freight movement

See Back Pg. See Pg. 4

MANSA pays tributes to Maritime Icon Rustom Sorabji on his demise

MUMBAI: As a pioneer in the maritime sector, the late Mr. Cooper saw the growth of India’s shipping and logistics sector from close quarters and held senior positions in the liner and tramp sector with Patvolk, JM Baxi Group, among others.

Even in his 90s, he was active as a committee member of Container Shipping Lines Association and as a Member of I n d i a n C o u n c i l o f A r b i t r a t i o n a s Commercial Arbitrator in shipping disputes. He was also practicing as a Maritime Lawyer besides being a Trustee

of Bombay Port Trust for several years. He was the oldest living first-class c r i c k e t e r i n t h e w o r l d , h a v i n g represented Bombay (1943–44 and 1944–45) in the Ranji Trophy with the Stellar knock of 52 and 104 in the 1944-45, against Holkar He also played for the Parsees in the Pent-angular (1941-42 to 1944-45) and played county cricket for Middlesex (1949-51) in England

The Shipping Fraternity will miss this guiding beacon and cherish his fond memory for ever

CAG asks Finance Ministry to put in place online Customs refund system

NEW DELHI: The Comptroller and Auditor General (CAG) has asked the Finance Ministry to consider having an online system for processing customs refunds along the lines of the GSTN system to make it more efficient. The official auditor has also flagged "inordinate delays" in the implementation of the module for daily updation of exchange rate and asked to make the system operational at the earliest.

Drewry : Reefer shipping remains resilient despite 2022 trade contraction

LONDON: Reefer container freight rates continue to outperform the dry cargo trade, despite an unprecedented contraction in reefer seaborne trade last year, and this divergence is forecast to continue over the next few years, according to Drewry’s recently published Reefer Shipping Annual Review and Forecast report. Cont’d. Pg. 5

Mr. Rustom Sorabji Cooper

India-Vietnam agree to explore direct shipping services, collaboration in freight movement

NEW DELHI: The 5th meeting of India-Vietnam Joint Trade SubCommission (JTSC) was held in New Delhi. The meeting was co-chaired b y t h e A d d i t i o n a l S e c r e t a r y, Department of Commerce, Ministry of Commerce & Industry, Shri Rajesh Agrawal from the Indian side and Deputy Minister, Ministry of Industry and Trade, Ms. Phan Thi Thang from the Vietnam side. This meeting was held after a gap of more than four years since 4th JTSC meeting held in January 2019, on account of COVID-19 pandemic and other factors.

Vietnam is the 23rd largest global trade partner of India and the 5th largest among ASEAN countries with bilateral trade of USD 14.70 Bn during 2022-23. Vietnam accounts for 11.2% of India’s total trade with ASEAN. Vietnam is an important destination for

India’s iron & steel and agricultural and animal products mainly meat products, animal fodder, cereals and marine products.

Both sides reviewed the progress on b i l a t e r a l t r a d e a n d e c o n o m i c cooperation and discussed ways to unlock the vast untapped potential in bilateral trade to enable the business communities from the two sides to benefit from the partnership of two of the fastest growing economies.

Both sides identified potential sectors such as agriculture, fisheries, textiles, footwear, pharmaceuticals, chemicals, fertilizers, machinery and equipment, consumer products, energy and automobile industry, for expanding trade cooperation and agreed to work together to resolve market access issues and technical barriers faced by the exporters through regular and

sustained bilateral discussions.

The Indian side raised the issues of pending registration of Indian fishery and meat establishments for export, restricted market access in public procurement of drugs for Indian pharmaceutical companies and high anti-dumping duties imposed on Indian polyster filament yarn products and sorbitol.

The Indian side highlighted the potential in service sector cooperation and suggested cooperation in IT, financial services, education sector, tourism, healthcare, tele-medicine, m e d i c a l t o u r i s m a n d s t a r t - u p ecosystem The Indian side also s u g g e s t e d M u t u a l R e c o g n i t i o n Agreements (MRAs) on professional services, internationalization of RuPay card, QR based payment system, and domestic currency trade settlement.

India exported Ayush, Herbal products

1,240.6 million dollars in 2 two years

NEW DELHI: India has exported a total of 1,240.6 million dollar Ayush and Herbal products in last two years (20212 0 2 2 t o 2 0 2 2 - 2 3 ) , t h e C e n t r a l government told the Rajya Sabha.

A total of 612.1 million dollar Ayush and Herbal products were exported in 2021-2022 while 628 25 million dollar Ayush and Herbal products were exported in 2022-2023, Union Minister for Ayush Sarbananda Sonowal informed through a written reply in the Upper House while responding to the query of a member.

Citing the data provided by ExportImport Bank of India, the Minister said Ayush and Herbal products are

exported in different dosage forms such as tablets, powder, gel, ghee, paste, pills, eye drops, nasal drops, body lotions, skin and hair care products.

The Minister also said that “India’s exports of Ayush and herbal products have witnessed an increased growth during the last few years.”

Ministry of Ayush has signed 24 Country-to-Country MoUs, 46 Institute level MoUs, 15 Chair MoUs with different countries and has established 39 Ayush Information Cells in 35 foreign nations to enhance the export of Ayush and herbal products, he said.

“Ministry of Ayush and other Ministries such as the Department of

worth

C o m m e r c e , D e p a r t m e n t o f Pharmaceuticals and Ministry of Health and Family Welfare all are engaged in bilateral and multilateral dialogue with different countries and forums like G20, SCO, and ASEAN,” the Minister said.

The Ayush Export Promotion Council (AYUSHEXCIL) has been registered under section 8(4) of the Companies Act 2013 on January 4 last year under the Ministry of Ayush in support of the Ministry of Corporate Affairs to tackle the obstacles for registration of Ayush products abroad, undertaking of market studies and research activities abroad.

CAG asks Finance Ministry to put in place online Customs refund system

Cont’d. from Pg. 3

Under the Customs Act, refunds can be claimed in cases where the imported goods are found to be defective or not in conformity with the specification agreed upon, when the goods are exported after payment of the export duty/cess and the exported goods are returned to the exporter

A refund can also be claimed by a person who has paid duty on assessment of imported goods and applies for refund of duty consequent on remission /abatement of duty due to pilferage/damage of goods.

"The Ministry may consider having an online workflow for capturing and processing refunds on the lines of the GSTN System so that the Department is able to electronically keep track of BEs against which refund has been applied for. This would make the monitoring of refund cases more efficient, effective and transparent," CAG said.

The CAG observed that the Central Board of Indirect Taxes and Customs in February 2014 stated that testing of

a module for daily update of exchange rate through message exchange with State Bank of India (SBI) had been completed and commissioning of the same can be decided only after the technical issues with SBI get resolved.

Subsequently, the module has been redesigned and the final 'Go-Live' prerequisites are being completed by SBI.

The CBIC determines the rate of exchange of conversion of major transactional foreign currencies generally after every 14 days on a regular basis and issues Notifications (Non-Tariff).

If import and export are made at rates other than the foreign currencies mentioned in the notification, then the importer/exporter has to produce a certificate of exchange rate on the day of filing of bills of entry/ Shipping Bills from the SBI.

The CAG said implementation of a system which captures daily fluctuation in the exchange rate, will minimise the undue benefit or loss to importers and exporters and correspondingly to the Department.

Drewry : Reefer shipping remains resilient despite 2022 trade contraction

Cont’d. from Pg. 3

The normalisation of the reefer trade and resultant freight rate correction has proved more gradual than for wider container shipping, and reefer cargo demand has been steadily recovering since the start of the year, demonstrating the resilience of the trade.

Drewry estimates that total worldwide seaborne reefer cargo declined to 137 5 million tonnes last year, representing a fall of almost 1%, the first time in over 20 years and compared to flatlining trade for dry cargo. Supply chain disruptions, rising input costs and normalisation in perishables cargo demand after the peaks of 2021, all contributed to the decline Key reefer commodities such as m e a t , b a n a n a s a n d f r e s h vegetables all took a hit in 2022 as a result.

Containerised reefer trade contracted 0.7% in 2022, as the continued decline in specialised reefer ship carryings cushioned the blow of weaker cargo demand, and broadly matched the fall in overall containerised liftings in the year.

Despite such adversity, reefer shipping trade is recovering through 2023, supported by steady demand from a growing world population and the recovery of Asian economies, particularly the reopening of China. These positive developments have driven a return to yearon-year growth on every key reefer-intensive trade route so far this year, with seaborne volumes projected to rise 1.5% by the end of the year However, containerised reefer trade is forecast to expand at 2.3%, fast outpacing flatlining wider container shipping cargo demand.

Reefer container freight rates have been declining since their peak of 3Q22 but at a more measured pace than for dry freight. This is because reefer’s peak was less pronounced due to the greater prevalence of annual contracts, while the stronger resilience of the less overtonnaged North-South trade routes, on which the

majority of reefer cargo moves, has also helped Drewry’s Global Reefer Container Freight Rate Index, a weighted average of pricing across the top 15 reefer intensive deepsea trades, declined 22% to $4,840 per 40ft in the year to 2Q23. And initial indications show that the fall will have accelerated to 31% by the third quarter. But despite such corrections, reefer container freight rates remain some 60% above pre-pandemic levels, while pricing for dry cargo has reached parity

One of the factors driving the superior performance of reefer container freight rates has been the mode’s continued gains in market share. This trend has continued supported by the normalisation in container equipment availability and port congestion, which have driven greater reefer volumes into containers from ageing specialised reefer ships However, the decline in the size of the specialised fleet has slowed of late, thanks to last year’s capacity constraints, and a wave of large-sized newbuilds scheduled for delivery over the next three years will mitigate some of the decline.

Looking ahead, reefer shipping is positioned to outperform the broader dry cargo trade with a projected average annual growth of 3.6% for containerised reefer trade over the years to 2027. As a result, the anticipated fall in reefer container freight rates will continue to be more measured than for dry freight, still leaving them above prepandemic levels next year

Evolution of reefer container freight rates compared with dry rates y-o-y

MSC Saudi streamlines Intermodal Services in the Region with Saudi Arabia Railways Partnership Agreement

GENEVA: MSC Saudi has signed a new contract with Saudi Arabia Railways (SAR) to increase container volumes between King Abdulaziz Port in Dammam and the Dry Port in Riyadh.

SAR is a specialized company for railways, owned by the Public Investment Fund (PIF), and built to connect the north of the Kingdom with its eastern and central regions. The company operates the railways and all its facilities and management with the necessary efficiency which accordance with economic operating and international standards in performance and safety

As a leading company, MSC will contribute to further increasing operational efficiency in collaboration with SAR to provide better rail transport services as well as facilitate the movement of cargo to meet and support the needs of the Saudi market. Additionally, the partnership between MSC and SAR, will not only provide safe and reliable transport solutions, but also will support and showcase the importance of MEDLOG Saudi role in the regional supply chain.

Furthermore, as a part of MSC Saudi's social and environmental commitments, and following MSC's aim to lower its carbon footprint and foster the development of resilient supply chains, MSC Saudi signed the contract with SAR as a step towards fulfilling these objectives on both a global and regional level.

“This strategic contract falls in line with MSC Saudi responsibility to improve and enrich the customer

experience through implementing latest digital solutions and services that address the needs of Saudi market. Also, it will support identifying future initiatives between MSC Saudi and SAR to support as much as possible the incoming and outgoing goods movement between Dammam port and Riyadh Dry port through providing best-in-class services.” said Hisham Alansari –MSC Saudi CEO.

In addition, the close relationship and continuous cooperation between MSC Saudi and SAR will contribute to shaping the future of the rail transport and logistics sector as well as contribute to Saudi Arabia's pivotal role in enabling economic development across the wider region.

APM Terminals : Rail freight on track for record volumes

THE HAGUE: Rail is acknowledged as the most fuel-efficient way to move freight over land, with a gallon of fuel stretching an average of 500 miles, according to the Association of American Railroads (aar.org). In July this year the United States Environmental Protection Agency (EPA) endorsed the push for freight railroads, stating that the transport mode can play a key role in the solution to climate change.

That assessment is something that APM Terminals has been fully on board with for some time. We're committed to raising the standards of responsibility by offering low or zero carbon solutions for customers and consumers through our decarbonisation efforts and increasing rail transport options.

Record loads in India

Take for example APM Terminals Pipavav, which has taken nearly 50,000 containers off the road to substantially reduce traffic congestion and pollution. Just last month the port handled 206 trains – the highest number this year so far, pulling significantly ahead of its previous loading record of 157 double stack trains in a month in 2020.

Carbon-conscious in the US Pipavav is not an exception. A few months ago, our operations in Mobile Alabama announced a bumper $60 million rail expansion in response to demand from increasingly carbon-conscious customers.

According to EPA data, freight railroads account for just 0.5% of total US emissions and only 1.7% of transportation-related greenhouse gas emissions (GHG). Added to this, the Association of American Railroads (AAR) states: “Moving freight by rail instead of truck lowers GHG emissions by up to 75%, on average”.

Sustainability with speed

The benefits of rail extend even beyond important net zero targets, as APM Terminals Americas Head, Leo Huisman acknowledges: “Our customers are looking for expanded options for their supply chains so we are focusing on faster connections to rail providers into inland markets.” The APM Terminals Mobile rail facility will therefore enable faster rail loading and departures.

Eyes trained on the future

Customer demand for sustainable and fast transport in the US and India is mirrored in Europe, where our colleague Homam Mansour is keeping his sights on the future of intermodal transport in his role as Rail Planner in our Gothenburg terminal, Sweden. Under his watch, Gothenburg has set an ambition to never refuse extra trains. Says Mansour: “We kept this promise throughout 2022, receiving and handling 84 extra trains requested by our customers at short notice”.

The commitment to rail has seen the volume of containers transported by rail via APM Terminals Gothenburg increase by 13% this year compared to 2021. More than 55% of all goods now reach the port by rail.

At APM Terminals globally, we train our sights on customer-focused, environment-friendly, and speedy supply chain solutions, and those priorities will continue to gain momentum.

COSCO Shpg.

Indial Shpg.

Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre

North Cont., Scandinavian, Red Sea & Med. Ports.

North Cont., Scandinavian, Red Sea & Med. Ports.

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

North Continent, Red Sea & Med. Ports. Team Global Team Global Log.

North Continent & Scandinavian Ports. Pun.Conware

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

& Scandinavian Ports. Pun.Conware

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

SCANDINAVIAN, RED SEA & MED. PORTS from BMCT

TO

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 NSIGT

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

LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH

& WEST INDIES PORTS

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

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

Emirates Emirates Shpg. Jebel Ali, Sohar.

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

LMR 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

ICC Line Neptune UAE & Upper Gulf Ports.

Ceekay Parekh Gulf Ports.

Team Leader Team Leader Dubai, Jebel Ali

Lines Team Global Log. Gulf

TO LOAD FOR WEST ASIA GULF PORTS From BMCT

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

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

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

Shimin 15E P0934

Evergreen Evergreen Shpg. P.Kelang, Tanjun, Pelepas, Singapore, Xingang, Balmer Law. CFS Dron.

Unifeeder Feedertech/TSA Qingdao, Shanghai, Ningbo. Dronagiri

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

Ever Eagle 174E

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

06/0907/09 TBATBA Wan Hai 507 E215 TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2

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

In Port 11/08 Interasia Resilience E022 P0885 277635-24/07 Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS

17/0818/08 TBATBA Wan Hai 362 E002 P0891

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,

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

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

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

APSEZ : Record Quarterly Cargo, Revenue & EBITDA

Zone Ltd (“APSEZ”), announced its results for the first quarter ended 30 June 2023.

APSEZ delivered its strongest e v e r q u a r t e r l y o p e r a t i n g performance during Q1 FY24, with highest ever quarterly cargo volumes, revenue, EBITDA and around 200bps jump in domestic market share, despite over 50% of the company’s total port capacity being adversely impacted for around 6 days due to the cyclone Biparjoy, said Mr. Karan Adani, CEO and Whole Time Director of Adani Ports and Special Economic Zone.

Our continuous efforts on improving operational efficiencies have resulted in domestic ports business EBITDA margin of 72% and logistics business EBITDA margin of 28%, which is higher than the reported margins of listed peers from India. Our newly acquired assets, Haifa Port and Karaikal Port, have ramped up well with monthly cargo volumes now touching 1 MMT mark at the two ports. With our cargo volumes crossing 100 MMT during the quarter, we are well on course to achieve our FY24 cargo volume guidance of 370-390 MMT.” added Mr Karan Adani.

Operational Milestones:

• APSEZ recorded its highest-ever quarterly port cargo volumes at 101.4 MMT in Q1 FY24, reflecting a healthy 12% Y-o-Y jump

• APSEZ’s domestic cargo volumes recorded 8% Y-o-Y increase, which is ~3x India’s cargo volume growth rate in the same period

• APSEZ’s market share in India increases to 26% in Q1 FY24, a jump of 200bps

• Mundra handled 1.72 Mn TEUs in Q1 FY24, which is 12% higher than its closest competitor

• Krishnapatnam Port recorded strong volumes by handling 5 MMT cargo volumes in all the three months of the quarter.

APSEZ transforming India’s port sector: With industry leading average turnaround time (TAT) for ships at ~0.7 days, APSEZ has been a benchmark for other Indian ports and have driven the improvement in the TAT of major ports from ~5 days in 2011 to ~2 days currently

Guidance for FY24: Cargo volumes expected at 370-390 MMT resulting in a revenue of Rs 24,000-25,000 Cr and EBITDA of Rs 14,500-15,000 Cr Total capex during the year is expected to be Rs 4,000-4,500 Cr

KEY BUSINESS HIGHLIGHTS – Q1 FY24 (YoY)

Operational Highlights

Ports Business

• Growth in cargo volume was led by containers (+15%), dry cargo (+10%) and liquids excl. crude (+7%). The automobile segment, though a small proportion of overall volumes, saw an 54% jump in volumes

• The non-Mundra domestic ports volumes grew at 17% Y-o-Y while Mundra volumes were down 2% due to cyclone ‘Biparjoy’

• The share of non-Mundra domestic ports increased to 58% in the cargo basket from 53% during Q1 FY23

Logistics Business

• Logistics rail volumes recorded a growth of 18% Y-o-Y to 131,420 TEUs

• GPWIS cargo volumes grew by 40% Y-o-Y to 4.35 MMT

• Total Rakes during the quarter increased to 95 (Container – 43, GPWIS – 42, Agri – 7, AFTO - 3) vs. 93 as of end March

Other Updates

• APSEZ concluded acquisition of Karaikal Port, and sale of Myanmar asset

• India’s largest transshipment port at Vizinjham to become operational by the year end

• At Mundra, container capacity expansion of 0.8 MTEUs to be completed by Q3 FY24, and five new railway handling lines being added to augment the container handling capacity by 30%

• MMLP count to increase to 12 in FY24 with additions of Loni ICD, Valvada ICD, and commissioning of Virochannagar MMLP

• Cyclone Biparjoy made landfall on the evening of 15th June and from 17th June the Mundra Port was back in operation, reflecting the resilience and preparedness of the port to withstand such extreme weather events

Financial Highlights

• Consolidated operating revenue grew by 24% Y-o-Y to Rs 6,248 Cr

• Consolidated EBITDA including forex impact grew by 80% Y-o-Y to Rs 3,765 Cr. Excluding forex impact consolidated EBITDA is Rs 3,754 Cr

• Ports business EBITDA margin expanded by ~150 bps to 72% with improved realization and operating efficiencies

• Logistics business EBIDTA margin expanded by ~150 bps to 28% aided by increase in cargo volumes and sweating of assets

Guidance for FY2024

• Cargo volumes during the period to be 370-390 MMT

• Revenue for the period to be Rs 24,000-25,000 Cr

• EBIDTA for the period to be Rs 14,500-15,000 Cr

• Net Debt to EBITDA to be reduced to ~2.5x

• Capex for the period to be Rs 4,000-4,500 Cr

ESG Highlights and Awards

• Intensity improvements: As of Q1 FY24, emission intensity reduction of 47% and water intensity reduction of 47% from the base year (Fy2016). The renewable electricity share of electricity in Q1 FY24 is around 14%.

• Carbon offsetting: APSEZ has completed mangrove plantation on ~4,000 Ha against its 2025 target of 5,000 Ha.

• Net-zero planning process: We are ready with net zero plan for submission to the Science Based Target Initiative (SBTi).

• Award: APSEZ recognized amongst the top 50 sustainable companies in India by the Business World.

Mr. Karan Adani

VESSELS DUE AT MUMBAI FOR EXPORT LOADING

TO LOAD FOR UK, NORTH CONT, SCAN, BLACK SEA, EAST EUROPE

TO LOAD FOR MED / RED SEA & WEST ASIA GULF

TO LOAD FOR KARACHI, COLOMBO, YANGOON AND BANGLADESH PORTS TO LOAD FOR USA, CANADA, ATLANTIC & PACIFIC, SOUTH-CENTRAL AMERICA & WEST

TO LOAD FOR FAR EAST / EAST, WEST & SOUTH AFRICA / AUSTRALIA & NEW ZEALAND PORTS

NOTICE TO CONSIGNEES

ZIM

m.v. “X-PRESS ANGLESEY” V-23005E (ZIM VOY : HV1 19E)

The above vessel is arriving at BMCT on 13/08/2023 with Import Cargo in containers.

Consignees are requested to obtain the DELIVERY ORDERS on presentation of ORIGINAL BILLS OF LADING and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS movement due to port congestion Line/Agent are not responsible for the same.

Consignees will please note that the Carriers and/or their Agents are not bound to send individual notifications regarding the arrival of the vessel or the goods. For detailed information on cargo availability please contact our office.

For any charges enquiries, Please contact on our Import Hotline No. : 4252 4444 Container Movement to OCEANGATE CONTAINER TERMINAL PVT. LTD.

As Agents

ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.

Raheja Centre-Point, 3rd Floor, 294, C.S.T. Road, Near Mumbai University, Kalina, Santacruz (East), Mumbai - 400 098. Maharashtra, India. Tel : 91-22-4252 4301 Fax : 91-22-4252 4142

NOTICE TO CONSIGNEES

m.v. “X-PRESS ANGLESEY” V-23005E (ZIM VOY : HV1 19E)

The above vessel is arriving at (BMCT) on 13/08/2023 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS on presentation of ORIGINAL BILLS of LADING and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS movement due to port congestion Line/Agent are not responsible for the same.

Consignees will please note that the Carriers and/or their Agents are not bound to send Individual Notifications regarding the arrival of the vessel or the goods.

For detailed information on cargo availability please contact our office.

For any charges enquiries, Please contact on our Import Hotline No. : 4252 4444

SHIPPING MOVEMENTS AT DEENDAYAL PORT

VESSELS IN PORT & DUE FOR EXPORT

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

VESSELS IN PORT & DUE FOR

GENERAL CARGO VESSELS

DISCHARGE

SHIPS NOT READY FOR BERTH

LIQUID CARGO VESSELS

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

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

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

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

ADANI MUNDRA AUTOMOBILE TERMINAL

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO

FOR EAST, SOUTH & WEST AFRICAN PORTS

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

OTHER PORTS OF GUJARAT

JAMNAGAR (BEDI) PORT

(As on 10-08-2023)

MULDWARKA PORT

(As on 10-08-2023)

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 ommission, inaccuracy or printing error occur in the data published in this daily, the Management of Daily Shipping Times is not responsible or liable.

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSFT

NSICT

NSIGT

BMCT

IMPORTER'S GUIDE

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

W. E. F. 04-08-2023

TT Buying Rates Bill Buying

TT Selling Rates Bill Selling

for Clean Rates for for Clean Rates for

´´ ´ 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

APM Terminals Pipavav consolidated net profit rises 14% to INR 678.26 million in Q1FY24 (INR 593.39 million Q1FY23)

• Revenue from operaons stood at INR 2,149.18 million, higher by 4% as compared to INR 2,065.53 million in Q1FY23

• Consolidated EBITDA at INR 1,058.42 million, lower by 5% against INR 1,116.43 million in Q1FY23

• Net profit for the quarter ended June 30th 2023 is INR 678.26 million, up 14% compared to INR 593.39 million

Pipavav Port Ltd), one of the leading gateway ports in Western India reported 14% rise in consolidated net profit at INR 678 26 million for the first quarter ended on 30th June 2023, compared to INR 593.39 million in the corresponding period of last year

Revenue from operations for the first quarter under consideration stood at INR 2,149.18 million as against

INR 2,065.53 million in the corresponding period of last year EBITDA for the quarter is at INR 1,058.42 million as against INR 1,116.43 million in Q1FY23. EBIDTA margin stood at 49.25% in Q1FY24 as against 54.05% in Q1FY23. The container volume grew 7% to 199,000 TEUs; dry bulk volume fell 28% to 0.67 million MT; liquid volume grew 29% to 0.26 million MT and volume under Ro-Ro grew 118% to 14,000 units against 6,000 units in the corresponding period of last year Container trains handled during the quarter rose 10.6% to 523 from 473 in Q1 FY23

OOCL receives the Fourth 24,188 TEU Mega Container Vessel, Named “OOCL Felixstowe”

HONG KONG: Orient Overseas Container Line Ltd. (“OOCL”) is pleased to further strengthen the company’s fleet structure by introducing one more 24,188 TEU mega vessel.

C O S C O

s s

i s n a m e d “OOCL Felixstowe” at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) shipyard.

OOCL invited a number of distinguished guests, partners and customers to witness the important moment when the vessel was named by Ms. HE Lijun.

Mr YANG Zhijian, Chief Executive Officer of OOCL, said at the ceremony: “We ordered this series of ultra large container vessels not only to provide better services to our customers, but also to enhance our cost competitiveness and to seize the initiative for future development. I firmly believe that, with leadership from

S H I P P I N G Group, support f r o m a l l stakeholders and the power of synergy, OOCL will certainly reach new heights of creating greater value for customers, partners, shareholders, and indeed society at large.”

OOCL Felixstowe is the fourth eco-friendly 24,188 TEU vessel to be received by OOCL in a series of twelve, and will be serving the Asia-Europe LL3 service with her three sister vessels.

Her port rotation is: Shanghai / Xiamen / Nansha / Hong Kong / Yantian / Cai Mep / Singapore / Piraeus / Hamburg / Rotterdam / Zeebrugge / Valencia / Piraeus / Abu Dhabi / Singapore / Shanghai.

Hapag-Lloyd partners with DB Schenker to decarbonise supply chains

HAMBURG: Hapag-Lloyd has entered into a partnership with DB Schenker for the purpose of decarbonising supply chains Following the launch of “Ship Green” in May, the renowned logistics provider has selected Hapag-Lloyd’s sustainable transport solution as part of its sustainability initiatives.

DB Schenker and Hapag-Lloyd have signed an a g r e e m e n t f o r e m i s s i o n - r e d u c e d c o n t a i n e r transports with a waste- and residue-based biofuel By end of 2023, DB Schenker plans to claim approximately 3,000 metric tonnes of carbon dioxide equivalent (CO2e) emissions avoidance. This is based on at least 1,000 tonnes of pure biofuel

“We are excited about this new partnership with DB Schenker as we share the common goal of making logistics more sustainable. Collaborations like these set a clear signal in the industry and are another example of a step-by-step approach to further decarbonise supply chains”, said Henrik Schilling, Managing Director Global Commercial Development at Hapag-Lloyd.

“I am very pleased that together with Hapag-Lloyd we are setting another example for sustainability in our industry. This partnership further enlarges our global biofuel offer in ocean freight With this commitment we are one step closer to our goal of becoming carbon-neutral", said Thorsten Meincke, Global Board Member for Air & Ocean Freight at DB Schenker

Hapag-Lloyd has launched the Ship Green product to offer its customers emission-reduced ocean transports. Based on biofuel, customers of Hapag-Lloyd can add Ship Green as an additional service to their existing bookings – thereby avoiding CO2e emissions Using the so-called “Book & Claim” chain of custody, Hapag-Lloyd can attribute avoided emissions to all ocean-leg transports, regardless of the vessel and route used. Ship Green is available for all shipments containing standard, hardtop or tank equipment. By offering Ship Green, Hapag-Lloyd is continuing along its path towards achieving climateneutral fleet operations by 2045.