MUM-12-03-2024

Econship Bolsters Fleet with Acquisition of 1700 TEU Cellular Vessel

MUMBAI: Econship, a rapidly expanding Non-Vessel Operating C o m m o n C a r r i e r (NVOCC) renowned for its advanced customer service, digitalisation, and technological prowess, acquired its fourth container vessel, MV Photon, on March 8th, 2024, at the Port of Zhoushan in China This strategic move underscores Econship's dedication to innovation and service enhancement within its areas of operation.

Econship successfully completed the acquisition, despite encountering delays attributed to market volatility plus security concerns arising from Houthi attacks on merchantvesselsintheRedSeaandGulfofAden. Cont’d Pg. 6

PPA : Maiden voyage of MSC for Containers commenced

Allcargo Logistics launches LCL Consolidation Services in Gujarat

The company has launched its first Less Than Container Load (LCL) Consolidation Services at the Inland Container Depot (ICD) Ankleshwar

Cont’d Pg. 6

PARADIP: Unlocking Big Success, harnessing the power of sustained marketing strategy, Paradip Port witnessed the Inception of one of its kind ExportImport Container Service at its PICT berth. Recently, the world’s biggest container line i e Mediterranean Shipping Company (MSC) commenced the Paradip shuttle service under SE feeder corridor MV MSC Tiger F made its maiden call at PICT terminal.

MUMBAI: Allcargo Logistics, a global leader in integrated logistics solutions, has launched Less Than Container Load (LCL) consolidation services in collaboration with India’s largest network of ICDs/ CFSs Container Corporation of India Ltd (CONCOR) at the Inland Container Depot (ICD) in Ankleshwar South Gujarat.

Cont’d Pg. 5

Red Sea Disruptions Benet Shipping Companies’ Near-Term Protability : Fitch Ratings

O

D O N : G l o b a l s h i p p i n g companies’ short-term profitability will benefit from increased freight rates, which exceed the costs of re-routing following persistent attacks on commercial vessels in the Red Sea, Fitch Ratings says. We do not expect structural shifts in the shipping sector as a result of these disruptions.

Nearly half of all cargo ships and tankers have been diverted away from the Suez Canal to alternative routes around the Cape of Good Hope following attacks on commercial ships in the Babel-Mandeb Strait. Container freight rates have surged as a result, with the World Container Index rising by 151% since early October 2023. Rates on Asia–Europe routes have increased by 284%, and more than doubled on other main East–West lanes.

which were related to broader supply-chain issues, including port congestions, a pandemic-related decline in port efficiencies, and container dislocations.

Red Sea disruptions have persisted beyond our initial expectations in December 2023, with no sign of abatement. Re-routing around Africa has increased transit time for container movement on the Asia–Europe route by about 50%, absorbing capacity in the container shipping sector. While operators have some flexibility to offset the longer routes by increasing vessel sailing speed, low excess capacity means other measures, such as the use of idled fleet or delaying planned vessel scrapping, have a limited impact on capacity absorption. However, scheduled deliveries of new ships in 2024 will restore overcapacity, according to Maersk. Increased vessel chartering demand will also help maintain schedules.

We do not believe that the Red Sea disruptions, or those in the Panama Canal due to drought, point to a structural shift in the sector, although they could keep freight rates higher for longer Furthermore, operating cost inflation, higher port charges and the rising costs of environmental regulation compliance will support freight rates slightly in the medium and longer term. The impact of shipping disruptions on rates and supply chains seems to have steadied for now. We maintain our view that the nature and implications of these disruptions are significantly different from those in 2021–2022,

The recent container rate hikes exceed the additional costs of re-routing, and will boost near-term profitability for container shipping companies and vessel lessors. We estimate that shipping companies’ operating costs on the affected routes have increased by about 50%, which is significantly lower than the actual rate increases The current spot rates will also affect contract prices, leading to higher average rates for the year and providing temporary relief to container shipping companies fromwhatmighthavebeenaweak2024duetolowerdemandfor goods and eased industrial supply-chain issues. A resolution of the Middle Eastern conflict and a recovery of Suez Canal crossings to pre-conflict levels could reduce freight rates and shippingcompanies’profits

Shipping disruptions underline the vulnerability of global trade to route chokepoints, which could limit the visibility of shipping costs and undermine the reliability of shipping schedules. While industry leaders, such as Maersk, are trying to incorporate reliability into their service offering, some factors remain outside their control.

Maersk and Hapag-Lloyd have recently entered into a new long-term agreement called Gemini Cooperation, effective from February 2025. It aims to reduce the number of port calls per region to strategic hubs and to use a hub-and-spoke model to service smaller ports, therefore shortening voyage times and increasing reliability.

Allcargo Logistics launches LCL Consolidation Services in Gujarat

The

company has launched its first Less Than Container Load (LCL)

Consolidaon Services at the Inland Container Depot (ICD) Ankleshwar

Cont’d from Pg. 3

The introduction of the first ever LCL consolidation services at ICD Ankleshwar marks a significant milestone in Allcargo Logistics’ mission to provide comprehensive logistics solutions to its customers in south west Gujarat.

Leveraging Allcargo’s expertise in freight forwarding and multimodal transportation, Allcargo Logistics aims t o s t r e a m li n e c a r g o m o v e m e n t s f o r M S M E , SMB businesses in Gujarat Industrial Development Corporation (GIDC) spread in around South Gujarat Ankleshwar, Panoli, Jaghadia, Vilayat, Karjan, Dahej, Jambusar and Surat.

With this strategic expansion, customers can now benefit from cost-effective and efficient consolidation of their smaller shipments into full container loads, facilitating seamless international trade.

By offering LCL consolidation ser vices at ICD Ankleshwar, Allcargo aims to enhance international supply chain efficiency by reducing transit time thereby optimizing logistics costs.

Aligning with the growth and extensive reach of GIDC Mr. Venkatesh Rajalu, Terminal Manager at CONCOR

facilitated the association with Allcargo Logistics.

Allcargo’s long-standing relation with CONCOR is truly valued. As a pioneer with 30 years of experience in the Logistics industry, we trust their expertise to facilitate this services, said Mr Venkatesh Rajalu, Terminal Manager, CONCOR.

Commenting on the launch of the LCL services at ICD Ankleshwar, Mr. Natarajan Iyer Vice President, Allcargo Logistics Limited said, “The introduction of LCL consolidation services at ICD Ankleshwar underscores our commitment to delivering innovative logistics solutions that meet the evolving needs of our customers. This expansion not only strengthens our presence in the region but also reinforces our position as a leading provider of end-to-end logistics services."

The launch of the LCL services is in line with the Allcargo Logistics’ vision to drive operational excellence and customer satisfaction through continuous innovation and expansion of its service offerings. The introduction of LCL consolidation services at ICD Ankleshwar is a testament to the company's unwavering commitment to delivering value-added solutions and enhancing the efficiency of global supply chains.

PM to dedicate the Nation-multiple key sections of Dedicated Freight Corridor project Today

NEW DELHI: Prime Minister will visit Gujarat and Rajasthan on 12th March, 2024. At around 9:15 AM, Prime Minister will dedicate to the nation and lay the foundation stone of various developmental projects worth

over Rs. 85,000 crore at Ahmedabad. Prime Minister will also flag off freight trains on Dedicated Freight Corridor from various locations – New Khurja Jn., Sahnewal, New Rewari, New Kishangarh, New Gholvad, and

New Makarpura today. Prime Minister will also dedicate 51 Gati Shakti MultiModal Cargo Terminals to the Nation. These ter minals will promote seamless movement of goods between differentmodesoftransportation

PM Modi opens 3rd Land Port in Tripura along with other projects

NEW DELHI: Prime Minister Narendra Modi virtually opened the third L and Port at Sabroom in South Tripura, facilitating trade of Northeast with South East Asian countries through the Chittagong Sea Port of Bangladesh.

India has already constructed a bridge over the River Feni to connect Tripura with Bangladesh by road, but it is not operational because it does not have a Land Custom Station and immigration facility for the movement of goods and people between the two countries.

Addressing the opening ceremony, the Prime Minister said, “The central government has been working on a mission mode to ensure building houses for every family, free rations, s a f e d r i n k i n g w a t e r, a n d f r e e h e a l t h c a r e , a n d t o p r o v i d e a sustainable internet facility even in the remotest corners of the country. Our aim is to develop Northeastern states

with the rest of the country.”

“Without developing Astha Laxmi in Northeast, the growth of India is not possible, which is why the BJP-led government focus on the Act East P o l i c y, w h i c h r e s u l t e d i n a transformation of the region into the H I R A ( H i g h w a y , I n t e r n e t , Roadways, and Airways) model,” Modi attributed.

Attending the program, Tripura Chief Minister Dr Manik Saha said, “After 2018, the political scenario in Tripura has changed under the leadership of Modi. We are waiting for Maitri Setu—connecting the state with Chittagong sea port at 70 km of operational distance—by which Tripura will become the gateway of Southeast Asia.”

After Akhaura and Srimantapur Integrated Check Post (ICP), Sabroom LP is the biggest one for the region through which Northeast India and other sta

Chittagong port. This is all possible due to Prime Minister Narendra Modi, who worked for the overall development of the region, Dr Saha underlined, adding, “We feel proud of having a guardian who is moving the country forward.”

He stated about Rs 250 Crore spent for Sabroom Land Port, Rs 732.98 Crore for tap water, Rs 48 Crore for Eklavya Model Residential School in Rupaichari and Karbook in Gomati district, Rs 154 51 Cr for rehabilitation and upgradation of road from KailashaharKurti Bridge section on NH-208A, Rs 251 89 Cr for rehabilitation and up-gradation of road from Manu –Lalchara Section on NH-44A.

With the Prime Minister’s vision for the progress of Northeast, Tripura is becoming a new hub of trade and business in this region. A number of r o a d a n d r a i l w a y p r o j e c t s a n d inter national connectivity with Bangladesh have begun to reform this place, Dr Saha added.

Econship Bolsters Fleet with Acquisition of 1700 TEU Cellular Vessel

Cont’d from Pg. 3

vessel with a Gross Registered Tonnage (GRT) of 18,872 and a Deadweight Tonnage (DWT) of 23,635 metric tonnes, was built in Japan and comes fully equipped with 265 Reefer points The acquisition of MV Photon, executed through Econship's associated companies, aligns seamlessly with the company's planned Capital Expenditure (Capex) for 2024.

MV Photon's deployment on the current India, Red Sea, and Mediterranean service is anticipated to significantly enhance service frequency and stability, thereby meeting the evolving needs of its shippers.

The addition of MV Photon serves to strengthen Econship's Mediterranean service, particularly in terms of capacity, frequency, stability, and reefer carrying capacity

With an increasing demand for Econship's direct products on this service, particularly for Over Dimensional Cargo (ODC) and temperaturecontrolled pharmaceutical products as well as fruits like grapes and bananas, the incorporation of

westbound legs, with an additional call to Jeddah on the westbound route

Furthermore, Econship is poised to extend its reach to other Red Sea ports such as Aqaba and Port Sudan from Jeddah, underlining its commitment to expanding its service network to meet the growing needs of Indian shippers and consignees.

As Econship continues to invest in fleet expansion and service optimisation, it cements its position as a leader in the shipping industry, driving innovation and delivering unparalleled value to its customers and stakeholders alike.

PPA : Maiden voyage of MSC for Containers commenced

Cont’d from Pg. 3

I t h a s L O A o f

154.51 Meter and Beam of 25 21 Meter It will be a regular & seamless call for catering Export-Import cargo through Port of Paradip as per planned 3 calls in a month through Paradip – Colombo route. The Ship embarked on its journey to Colombo Port with export Aluminum Cargo of 90 TEU on account of Vedant and 36 TEU on account of Jindal Stainless Limited.

Gracing the occasion, Shri P.L. Haranadh, Chairman, PPA stated, “It is a very special occasion for Paradip Port, as traditionally Paradip Port has been concentrating on Iron Ore, Coal and Crude Oil for the last 57 years since its traffic operation began in 1967. Our approach was only towards improving the coaL, iron ore & crude oil traffic. It is time now to diversify the cargo basket, as An estimated 2 lakh TEU cargo is available in the hinterland of the Paradip Port. The combined efforts of PPA & Govt. of Odisha has yielded successful results in attracting

liners and no container scanning charges to boost container cargo. Henceforth, prospective clients from state of Odisha will be no more dependent on ports outside the state.”

Shri Saswat Mishra, Principal Secretary, MSME Department, GoO said, “This is the momentous occasion, for which the state has been waiting for decades. We have lot of cargo here with Odisha origin. In the line of MSC, soon another VGF agreement with container line RCL for Paradip-Port Klang in Malaysia operation will be signed by the state govt. With these two routes opening up, I think that the much needed infrastructure and logistics support for Odisha industries will open up.”

reputed container liners to PPA Now, we have a world class terminal here at PICT which is no less than any other container terminal of the country and it has a 14.5mtr draft and state of the art machinery to handle contaitner traffic and it has 5 MMT capacity. It is totally under utilized. The Port is offering unparallel discount of 75% in vessel related charges to interested container

Shri Nilabhra Dasgupta, Dy. Chairman, PPA said that with the cooperation of the major shipping lines, the days will nor far, when PPA will be positioning answer as one of the most modern and most competitive container Ports.

Shri G. Edison, T.M, PPA, Shri Rajesh

Naik, PICT Terminal Head were present during the flagging off Ceremony It may be noted that in Industry first scheme of things, Odisha Govt’s will pay $ 200 per 20-foot equivalent Unit (TEU) as viability gap funding (VGF) if the Export-Import traffic volumes during a Ship call at Paradip Port falls below the minimum guaranteed level of 250 TEUs.

India-European Free Trade Association signed a Trade and Economic Partnership Agreement

NEW DELHI: India-European Free Trade Association signed a Trade and Economic Pa r t n e r s h i p A g r e e m e n t ( T E PA ) o n 10th March 2024.

India has been working on a Trade and Economic Partnership Agreement (TEPA) with EFTA countries comprising Switzerland, I c e l a n d , N o r w a y & L i e c h t e n s t e i n . T h e U n i o n C a b i n e t c h a i r e d b y t h e Hon’ble Prime Minister has approved signing of the TEPA with EFTA States. EFTA is an inter-governmental organization set up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member States.

Speaking on the occasion, Shri Piyush Goyal, Minister of Commerce and Industry, Food and Consumer Affairs and Textiles said: "TEPA is a modern and ambitious Trade Agreement. For the first time, India is signing FTA with four developed nationsan important economic bloc in Europe. For the first time in history of FTAs, binding commitment of $100 bn investment and 1 million direct jobs in the next 15 years has been given. The agreement will give a boost to Make in India and provide opportunities to young & talented workforce. The FTA will provide a window to Indian exporters to access large European and global markets."

• TEPA would stimulate our services exports in sectors of our key strength / interest such as IT services, business services, personal, cultural, sporting and recreational services, other education services, audio-visual services etc.

The agreement comprises of 14 chapters with main focus on market access related to goods, rules of origin, trade facilitation, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, investment promotion, market access on services, intellectual property rights, trade and sustainable development and other legal and horizontal provisions.

EFTA is an important regional group, with several growing opportunities for enhancing international trade in goods and services.EFTA is one important economic block out of the three (other two - EU &UK) in Europe. Among EFTA countries, Switzerland is the largest trading partner of India followed by Norway

The highlights of the agreement are:

• EFTA has committed to promote investments with the aim to increase the stock of foreign direct investments by USD 100 billion in India in the next 15 years, and to facilitate the generation of 1 million direct employment in India, through such investments. The investments do not cover foreign portfolio investment.

• For the first ever time in the history of FTAs, a legal commitment is being made about promoting targetoriented investment and creation of jobs.

• EFTA is offering 92.2% of its tariff lines which covers 99.6% of India’s exports. The EFTA’s market access offer covers 100% of non-agri products and tariff concession on Processed Agricultural Products (PAP).

• India is offering 82.7% of its tariff lines which covers 95.3% of EFTA exports of which more than 80% import is Gold The effective duty on Gold remains untouched.Sensitivity related to PLI in sectors such as pharma, medical devices & processed food etc. have been taken while extending offers. Sectors such as dairy, soya, coal and sensitive agricultural products are kept in exclusion list.

• India has offered 105 sub-sectors to the EFTA and secured commitments in 128 sub-sectors from

• Services offers from EFTA include better access through digital delivery of Services (Mode 1), commercial presence (Mode 3) and improved commitments and certainty for entry and temporary stay of key personnel (Mode 4).

• TEPA has provisions for Mutual Recognition Agreements in Professional Services like nursing, chartered accountants, architects etc.

• Commitments related to Intellectual Property Rights in TEPA are at TRIPS level. The IPR chapter with Switzerland, which has high standard for IPR,shows our robust IPR regime.India’s interests in generic medicines and concerns related to evergreening of patents have been fully addressed.

• India signals its commitment to Sustainable development, inclusive growth, social development and environmental protection

• Fosters transparency, efficiency, simplification, harmonization and consistency of trade procedures

• TEPA will empower our exporters access to specialized inputs and create conducive trade and investment environment. This would boost exports of Indian made goods as well as provide opportunities for services sector to access more markets.

• TEPA provides an opportunity to integrate into EU markets Over 40% of Switzerland’s global services exports are to the EU Indian companies can look to Switzerland as a base for extending its market reach to EU

• TEPA will give impetus to “Make in India” and Atmanirbhar Bharat by encouraging domestic manufacturing in sectors such as Infrastructure and C o n n e c t i v i t y, M a n u f a c t u r i n g , M a c h i n e r y, Pharmaceuticals, Chemicals, Food Processing, Transport and Logistics, Banking and Financial Services and Insurance.

• TEPA would accelerate creation of large number of direct jobs for India’s young aspirational workforce in next 15 years in India, including better facilities for vocational and technical training. TEPA also facilitates technology collaboration and access to world leading technologies in precision engineering, health sciences, renewable energy, Innovation and R&D.

Tauro, 29/0330/03 29/03 1100 MSC Thais IS411A U. K. North Continent & Other Mediterranean Ports. Himalaya Express NBCL Axis Shpg. Felixstowe, Rotterdam, Hamburg, Antwerp & All Inland Desti. Dronagiri-1 Service

Allcargo Allcargo Log. U.K., North Cont., Scandinavian & Med. Ports. Dron. 2 & Mul.

ICC Line Neptune Felixstowe, Hamburg,Rotterdam & other Inland Dest. GDL-3 & Dron-3

GLS Global Log. U.K., North Continent & Scandinavian Ports. JWR

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genoa.

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

15/0316/03 15/03 0900 Northern Javelin IP411A P2749 292805-06/03 MSC MSC Agency Antwerp, Le Havre, Rotterdam, Dunkirk, Felixstowe, Southampton, Hind Terminals

22/0323/03 22/03 0900 MSC Shay IP412A P2792 293148-11/03 Helsingborg, Gothenburg & Red Sea, Med, Gioia Tauro (D).

29/0330/03 29/03 0900 MSC Maeva IP413A

SCI CMT Southampton, Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre (EPIC / IPAK)

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.

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

23/0324/03 TBATBA NYK Vesta 084W P2767 CMA CGM CMA CGM Ag.(I) Hamburg, Antwerp, London Gateway, Cagliari, Jeddah, Tangier. Dron-3 & Mul

ISS Shpg. U.K., North Cont., Scandinavian, Red Sea & Med.Ports. ULA CFS

12/0413/04 TBATBA Sofia Express 4311W COSCO COSCO (I) U.K., North Cont., Scandinavian, Red Sea & Med.Ports.

MSC

Agency Boston, Philadelphia, Miami, Coronel, Guayaquil, Cartagena, Hind Terminals 22/0323/03 22/03 0900 MSC Shay IP412A P2792 293148-11/03 Indial Indial Shpg. San Antonio,Arica,Buenaventura,Callao,La Guaira,Paita, 29/0330/03 29/03 0900 MSC Maeva IP413A

Puerto Cabello, Puerto Angamos, Iquique Santiago De Cuba, Mariel (EPIC / IPAK) Globelink Globelink WW USA,Canada,Atlantic & Pacific,South American & West Indies Ports.

Armita India Bandar Abbas, Chabahar. (IIX)

21/0322/03 TBATBA Nordpanther 02408W P2705 108566-01/03 QNL/Milaha PoseidonShpg. Jebel Ali, Bandar Abbas. (GIX) Speedy CFS

16/0317/03 TBATBA Inter Sydney 0151 P2708 292554-01/03 Interworld Efficient Marine Bandar Abbas, Chabahar (BMM) Alligator Shpg. Aiyer

TO LOAD FOR WEST ASIA GULF PORTS From GTI

FOR WEST ASIA GULF PORTS From BMCT

LOAD FOR INDIAN SUB CONTINENT from BMCT

20/0321/03 TBATBA Ren Jian 23 2403E P2682 292347-28/02 Heung A Line Sinokor India

03/0404/04 TBATBA Beijing Bridge 2403E P2769

Sinokor Sinokor India Seabird CFS (CSC)

21/0322/03 TBATBA Seattle Bridge 089E P2765

TS Lines TS Lines (I)

Cordelia Cordelia Cont. Port Kelang, Far East & China Ports

Blue Water PoseidonShpg. Shanghai, Ningbo, Qingdao. Speedy CFS

Evergreen Evergreen Shpg. P.Kelang, Tanjun, Pelepas, Singapore, Xingang, Balmer Law. CFS Dron. 27/0328/03

TBATBA Ever Sigma 125E P2770

UnifeederUnifeeder Qingdao, Shanghai, Ningbo. Dronagiri 01/0402/04 TBATBA Celsius Naples 901E

08/0409/04 TBATBA TS Ningbo 24002E

PIL/ONE PIL India/One(I) —/—

Hapag ISS Shpg. P.Kelang, Singapore, Xiangang, Qingdao, Shanghai, Ningbo, Da Chan Bay. ULA CFS 15/0416/04 TBATBA Ever Excel 173E

KMTC KMTC (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-3 22/0423/04 TBATBA Ever Ethic 167E

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

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

Samudera Samudera Shpg. P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri

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

BSS Bhavani Shpg. Port Kelang, Singapore, Jakarta, Yangoon, Surabaya, Belawan, Ashte CFS 01/0402/04 TBATBA Gregos 2406E

Asyad Line Seabridge Haiphong, Shekou, Laem Chabang, Port Kelang (IEX)

Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS 22/0324/03 TBATBA Wan Hai 513 E091

29/0331/03 TBATBA Wan Hai 311 E231

InterasiaInterasia (CI2)

15/0316/03 TBATBA YM Uniformity 071E P2702 292496-01/03

HMM HMM Shpg. Port Kelang, Singapore, Hongkong, Kwangyang, Pusan, Shanghai, Ningbo Seabird CFS CU Lines Seahorse Ship Port Kelang(N), Hongkong, Qingdao, Shanghai.

ONE Line ONE (India) Port Kelang, Singapore, Leme Chabang, Kaimep, 24/0325/03 TBATBA Seaspan Adonis 074E

Yang Ming Yang Ming(I) Shanghai, Ningbo, Shekou. Contl.War.Corpn. 31/0301/04 TBATBA One Altair 064E

HMM HMM Shpg. Seabird CFS (PS3 Service)

Samudera Samudera Shpg. Dronagiri

Gold Star Star Ship Port Kelang, Singapore, Hong Kong, Ningbo, Shanghai Ocean Gate

16/0317/03 TBATBA Tessa 2401E P2634 291976-22/02 RCL/Global Fdr. RCL Ag./Sima Marine Port Kelang, Ho Chi Minh City, Laem Chabang, Cai Mep

18/0319/03 TBATBA RDO Favour 02359E P2701 292490-01/03 CU Lines/KMTC Seahorse/KMTC(I) (VGX)

20/0321/03

TBATBA ESL Kabir 02408E P2683 292349-28/02

Emirates Emirates Shpg.

SeaLead SeaLead Shpg.

17/0318/03 TBATBA San Francisco Bridge 070E P2737 292759-05/03 ONE Line ONE (India) Port Kelang, Singapore, Laem Chabang, 24/0325/03 TBATBA X-Press Bardsey 24002E

29/0330/03 TBATBA Wide Alpha 245E

07/0408/04 TBATBA Clemens Schulte 031E

X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang.

Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri

RCL RCL Ag. Port Kelang, Singapore, Laem Chabang. (TIP Service) HMM HMM Shpg. Port Kelang(N), Port Kelang(W), Singapore. Seabird CFS

17/0319/03 TBATBA Seamax Stratford 128E P2680 292359-28/02 OOCL/RCL OOCL(I)/RCL Ag Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo, GDL/Dron-1

26/0328/03 TBATBA OOCL Genoa 069E

02/0404/04 TBATBA Zim Haifa 26E

18/0420/04 TBATBA OOCL Hamburg 149E

23/0425/04 TBATBA OOCLLuxembourg 109E

APL CMA CGM Ag. Dron.-3 & Mul.

ONE Line ONE (India) Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo.

COSCO COSCO Shpg. Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo.

Gold Star Star Ship Singapore, Hong Kong, Shanghai. (CIX-3)

ANL CMA CGM Ag. Port Kelang, Singapore (CIX-3) Dron.-3 & Mul.

TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2 20/0322/03 TBATBA X-Press Cassiopeia 24012E P2681 292360-28/02 Maersk Line Maersk India Port Kelang, Tanjung Pelepas, Singapore, Hongkong, Maersk CFS

25/0326/03 TBATBA X-Press Phoenix 24013E P2726 292693-04/03 X-Press Feeders Sea Consortium Kwangyang, Pusan, Hakata, Shanghai. (NWX/FI-3)

01/0402/04 TBATBA Maersk Florence 414E Sinokor/Heung A Sinokor India Port Kelang, Singapore, Qingdao, Xingang, Pusan Seabird CFS 08/0409/04 TBATBA GSL Nicoletta 415E

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

In Port 12/03 MSC Capella GA410R P2654 292176-26/02 MSC MSC Agency Port kelang, Singapore, Tanjung Pelepas, Laem Chabang, Hind Terminal 17/0318/03 TBA 0900 MSC Rania GA411R P2764 292914-07/03 Vung Tau, Da Chan Bay, Shekou (SENTOSA SHIKRA)

In Port 12/03 Seamax Westport 093E P2629 291883-21/02

COSCO Shpg. Singapore, Hongkong, Shanghai, Ningbo, Shekou, 26/0327/03 TBATBA Xin Hongkong 069E P2774 292958-07/03 APL CMA CGM Ag. Nansha, Taichung, Kaohsiung. Dron.-3 & Mul 11/0412/04 TBATBA Xin Beijing 144E

16/0417/04 TBATBA Xin Fei Zhou 093E CU Lines Seahorse Ship Singapore, Shanghai, Ningbo, Hongkong, Taichung, Kaohsiung.

13/0314/03 12/03 1800 Wan Hai 332 E006 P2652 292170-26/02 Sinokor Sinokor India Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Seabird CFS 20/0321/03 TBATBA Wan Hai 505 E173 P2753 292817-06/03 Heung A Line Sinokor India Hongkong 26/0328/03 TBATBA Jeju Island E402 P2731 Wan Hai Wan Hai Lines (CI6) Dron-1 & Mul CFS 02/0404/04 TBATBA Interasia Enchance E033 InterasiaInterasia

09/0411/04 TBATBA Wan Hai 317 E218

Feedertech/TSA

HMM HMM Shpg. Singapore, Da Chan Bay, Busan, Kwangyang, Shanghai Seabird CFS (FIM East Bound) Sinokor Sinokor India Seabird CFS

09/0410/04 TBATBA Zhong Gu Ji Nan 24002E

17/0318/03 16/03 0700

COSCO COSCO Shpg. (AIS SERVICE)

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

One Matrix 017E P2709 292577-02/03 ONE Line ONE (India) Port Kelang, Hongkong, Shanghai, Ningbo, Shekou

26/0327/03 TBATBA X-Press Capella 24002E P2736 292760-05/03 X-Press Feeders SeaConsortium

29/0330/03 TBATBA TS Singapore 24002E KMTC/TS Lines KMTC(I)/TS Lines(I) Dron-3/Dron-2

04/0405/04 TBATBA Ever Envoy 187E

Gold Star Star Ship

11/0412/04 TBATBA X-Press Pisces 24003E RCL/PIL RCL Ag./PIL India (CWX/CIX5)

Blue

17/0318/03

14/0415/04

20/0321/03

07/0408/03 TBATBA TS Kwang Yang 24002W OOCL/TS Lines OOCL(I)/TS Lines(I) (IDEA - INDIA DUBAI EAST AFRICA) GDL/—

In Port 13/03 Halsted 409S P2582

CMA CGM CMA CGM Ag. Reunion, Durban, Pointe Desgalets, Walvis Bay, Luanda, Dron.-3 & Mul.

23/0324/03 TBATBA Fayston Farms 411S P2715 292480-29/02 Maersk Line Maersk India Pointe Noire, Tincan, Apapa, Tema, Cotonou, Lome, Capetown. Maersk CFS DAL Seatrade Durban, Port Elizabeth, Capetown, Maputo, Beira. (MIDAS-2)

12/0313/03 12/03 2000 AS Sicilia 932 P2665 292215-26/02 ONE Line ONE (India) Mombassa, Beira, Maputo. (MJI)

12/0313/03 12/03 1300 CMA CGM Masai Mara 0MSIDW1 P2662 292199-26/02 Maersk Line Maersk India Durban, Luanda, Pointe Noire, Aapapa, Tincan, Maersk CFS

19/0320/03 TBATBA CMA CGM Kribi 0MSIFW1 P2739 CMA CGM CMA CGM Ag. Cotonou (Direct), Port Elizabeth, Port Louis (MESAWA) Dron.-3 & Mul.

13/0314/03 12/03 23:59 Shamim 1114SP2677 292319-27/02 HDASCO Armita India Mombas, Dar-Es-Salaam.

17/0318/03 TBATBA Maersk Cabo Verde 412S P2639 291710-19/02 Maersk Line Maersk India Mombasa, Victoria. Maersk CFS 24/0325/03 TBATBA Marathopolis 413S P2712 292482-29/02 (MWE

Ashwani Kumar unanimously elected as the New President of FIEO, aims to enhance the competitiveness of India’s exports expanding its global footprints

M U M B A I : M r A s h w a n i K u m a r, Partner, Victor Forgings, J a l a n d h a r h a s b e e n unanimously elected as the New President of the Federation of Indian Export Organisations (FIEO) on March 11, 2024.

MrAshwaniKumariswellknownand popular business entrepreneur and exporter from Jalandhar (Punjab), representing the engineering sector of exports. A widely travelled businessman, Mr Kumar has held several key positions in different renowned organizations of the country including FIEO as the Chairman (Northern Region) and Member of the Managing Committee of the Federation; Member of the Governing Body of NIT, Jalandhar; Convenor of Hand Tools Panel (Pan India) and Deputy Regional Chairman (NorthernRegion),EEPCIndia

Besides serving as the Regional Chairman (Northern Region), Mr Ashwani Kumar has also represented various forums of Jalandhar including its Focal Point Industries Association, E f f l u e n t Tr e a t m e n t S o c i e t y, Management Association, Badminton Association, Integrated Association of SMEs, Doaba Airport Association and is also a Trustee of K L Saigal Memorial Trust.

Mr Kumar's extensive experience, acquired through various roles within t h e g o v e r n m e n t a n d m u l t i p l e associations in Punjab, FIEO will undoubtedly enhance the services to the exporting community of the country Under his leadership with deep knowledge and understanding of international trade, combined with his commitment to fostering growth and innovation, the Federation will continue to thrive and navigate the challenges,

seizing the opportuniti es of the g l o b a l m a r k e t . T h e N e w F I E O C h i e f ’ s v i s i o n i s b o t h

inspiring and pragmatic, aiming to enhance the competitiveness of India’s exports sector thereby expanding its global footprint.

Mr Ashwani Kumar, who has taken over the reigns of the Federation at a time when global trade is undergoing a sea change, also envisions to make e x p o r t s a n a t i o n a l p r i o r i t y i n collaboration with all the stakeholders. FIEO, under his leadership, would work s h o u l d e r- t o - s h o u l d e r w i t h t h e Government to achieve this objective.

Mr.Ashwani Kumar

CBIC issues circular to encourage Women participation in logistics and trade

NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) is committed to fostering a gender-inclusive trade environment that empowers women to contribute meaningfully to the global economy CBIC has taken different steps for promoting gender inclusiveness in international trade and work place environment.

Keeping this spirit in mind, a Circular No. 02/2024 dated 8th March, 2024 has been issued by Central Board of Indirect Taxes and Customs, directing its field formations to ensure:

• representation of women in the Permanent Trade Facilitation Committee (PTFC) and Customs Clearance Facilitation Committee (CCFC) meetings

• encourage the Trade bodies/ custodians to establish dedicated help desks and processing mechanisms for women traders and women logistics service providers, and

• to support in upskilling women logistics service providers, freight forwarders and custom brokers by offering relevant trainings for women.

Further, keeping in view the growing participation of women in the logistics sector, a Circular No. 03/2024 dated 8th March, 2024 has also been issued to CBIC field formations to ensure:

• provision of safe and secure working environment to women a n d g e n d e r i n c l u s i v e

infrastructure, including care infrastructure and services, especially creches, sufficient lighting, panic buttons, regular upgradation of facilities from a gender perspective, and

• to spread awareness by holding regular gender sensitisation t r a i n i n g s e s s i o n s f o r a l l concerned staff/ stakeholders.

The above initiatives reflect CBIC’s dedication to promote gender inclusiveness in the realm of work place ecosystem.

PLI Scheme to make Indian companies global champions : Amitabh Kant

N E W D E L H I : T h e P L I performance linked incentive scheme that was launched in 2020 is helping companies in India attain global size and penetrate global markets, which is essential for long term sustained growth of the economy, said India’s G20 Sherpa Amitabh Kant.

“PLI says that we will support you year after year for five years but you keep meeting your production targets. If you don’t do that you don’t get the benefits. But if you get that

size and scale you will become a global player,” said Kant in an event.

“It is giving you a carrot but for achieving a very high production targets and making you a global player. And we are not extending it for more than five years So, w i t h i n t h o s e f i v e y e a r s , y o u become a global champion It’s a s c h e m e f o r m a k i n g I n d i a n companies think big and become global champions to penetrate global markets,” said Kant

This assumes significance as ever since the PLI scheme was launched in March 2020, there have been many economists and industry players that have questioned the utility and the effectiveness of the government scheme.

On a different note, the former head of NITI Aayog said that the country cannot grow only on the back of services and there needs to be participation from the manufacturing and other segments as well.

India rice export rates hit record high

NEW DELHI: India’s rice export prices surged to a record high this week as traders sought clarity over how the export levy is calculated, while those in Thailand awaited fresh supplies to hit the market, reports Reuters.

Top exporter India’s 5 per cent broken parboiled variety was quoted at a record per tonne this week, up from the last week’s $546-$554.

Indian traders are signing few of parboiled rice after customs officials changed the calculation method for the 20 per cent export duty, resulting in a

higher levy, four industry officials said.

“Buyers are not ready to pay record prices. Sellers have limitations since the customs guys have changed the way they calculate duty,” said an exporter based at Kakinada in the southern state of Andhra Pradesh.

Thailand’s 5 per cent broken rice prices rose to $620-$622 per tonne, from $615 quoted last week.

A Bangkok-based trader said that prices climbed because demand was steady, but expected crops to come in the following week.

Vietnam’s 5 per cent broken rice were offered at around $580, down from $600 a week ago but up from $575 earlier this week.

“Many importers are not rushing to buy as they know that Vietnam’s main harvest is peaking,” a trader based in Ho Chi Minh City said.

“Prices, however, are recovering as rice production is still facing the a d v e r s e i m p a c t s o f E l N i n o phenomenon this year,” the trader said, adding that domestic traders are now buying to increase their inventories.

Maharashtra is engine of Indian economy, has highest FDI : Devendra Fadnavis

PUNE: Maharashtra Deputy Chief Minister Devendra Fadnavis said on Saturday that the state is the engine of the country’s economy and it has g a r n e r e d m o r e Fo r e i g n D i r e c t Investment (FDI) than Gujarat, Karnataka or Uttar Pradesh. He was addressing a ‘Viksit Bharat’ (developed India) event at Pune’s Bhandarkar

Oriental Research Institute.

Though late president Dr APJ Abdul Kalam envisaged the ‘Viksit Bharat’ concept, no work was done on it between 2000 and 2014, alleged Fadnavis.

“The actual work started in 2014 and last year we made our mark in the world’s top five economies In the past many years, we witnessed corrupt practices and

many scandals Earlier, FDI inflow was low due to policy paralysis “However, Prime Minister Narendra Modi has started taking the country on the path of progress by emphasising the ‘perform, reform and transform’ model Maharashtra is the engine of the Indian economy and the nation cannot make any development withoutMaharashtra,”heasserted

Gati Shakti Cargo Terminal at Sindi propels Nagpur as key logistics hub

NAGPUR: Nagpur is set to become a crucial logistics hub in India, with the development of a Gati Shakti Cargo Terminal (GCT) at Sindi dry port.

The agreement was signed by Central Railway’s Nagpur division, Jawaharlal Nehru Port Authority, and N a t i o n a l H i g h w a y s L o g i s t i c s Management Limited. This marks the

third Gati Shakti Cargo Terminal in the division, complementing those owned by JSW Steel at Kalmeshwar and MP Birla Cement at Mukutban on Majri-Adilabad section.

India-EFTA Agreement can catalyze the Growth of the Indian Textile Industry in strategic sectors: CITI

NEW DELHI: Confederation of Indian Textile Industry’s (CITI) Chairman, Shri Rakesh Mehra congratulated the Government for signing the Trade and Economic Partnership Agreement with the European Free Trade Association (EFTA) members.

“To have a level playing field against our competitors, the Indian T e x t i l e I n d u s t r y h a d b e e n continuously requesting the signing of FTAs with major Textile & Apparel Market. Textile Industry is happy to note that under the leadership of Hon’ble Union Minister of Commerce & Industries, Shri Piyush Goyal, India has recently signed several trade

agreements including India-UAE CEPA, and India-Australia ECTA

T h e u p c o m i n g I n d i a - E F T A agreement, will further catalyze the growth of the Indian Textile Industry, especially in terms of critical inputs, technology, and product development opportunities,” said Shri Mehra. He further said that while the EFTA members which include Iceland, Liechtenstein, Norway, and Switzerland is an important trade bloc for the Indian Textile Industry, CITI had been requesting the Government to expedite the signing of FTA with Switzerland as both India and Switzerland complement the needs of each other in the T&A space

as India imports Technology and Machines from Switzerland while Switzerland offers itself as a buyer for raw materials and intermediate products, to be converted into highquality and sustainable end products.

He further informed that in this regard CITI and Swiss Textiles, which is one the important National Associations of T&A in Switzerland, signed an MoU in November 2023 intending to promote bilateral trade and investment as also engage for m o r e p r o d u c t - s p e c i f i c B 2 B interactions’ knowledge sharing, & capacity building, etc. based on the respective core competencies of both the countries.

Several countries willing to start trading with India in Rupee

NEW DELHI: In what could be a "very game-changing" development for India's trade with the world, many economies big and small have expressed willingness to start t r a d i n g i n r u p e e w i t h I n d i a , Commerce and Industry Minister Piyush Goyal revealed on March 11. Some of these countries include neighbours like Bangladesh and Sri Lanka as well as nations from the Gulf, the Minister said.

While Bangladesh and Sri Lanka are keen us to start immediately, countries in the Gulf region are also seriously looking at the possibility, Goyal informed At some point, more and more developed countries and countries in the Far East will also join the bandwagon, he said, adding that Singapore is already on board to some extent

More and more countries are realising the advantages of trading in their own domestic currencies a n d a s h i f t t o w a r d s d i r e c t t r a n s a c t i o n s b e t w e e n l o c a l currencies is gaining traction, Goyal said.

By avoiding the need to convert transactions into a third currency, both parties can significantly reduce transaction costs, the Minister said

The UAE was one of the first

e c o n o m i e s t o a c c e p t t h i s mechanism, and it has since gained momentum India's first-ever payment in rupees for crude was from the UAE

Many countries are expressing their interest in initiating direct transactions between their local currencies and the Indian Rupee H o w e v e r, i m p l e m e n t i n g t h i s process might take some time as it requires coordination between the central bankers of both nations and the acceptance of the system by importers and exporters, Goyal said Trade using the Indian Rupee is also advantageous because the currency remains stable against most international currencies This stability has attracted different nations to build trade relations based on rupee trade. Besides, the rupee trade mechanism has proven beneficial for countries experiencing a shortage of US dollars

India has already commenced trade in rupees with neighboring countries like Nepal and Bhutan. Additionally, the rupee has been included in Sri Lanka's list of designated foreign currencies to facilitate trade. India's push for using the rupee globally began with its first-ever payment in rupees for

crude oil purchased from the UAE

This initiative has encouraged the w o r l d ' s t h i r d - l a r g e s t e n e r g y c o n s u m e r t o s e e k s i m i l a r arrangements with other suppliers

To support the use of the Indian Rupee in inter national trade, changes have been made to the Foreign Trade Policy (FTP) These a l t e r a t i o n s a l l o w f o r t r a d e settlement in rupees and aim to establish the INR as a global currency In July 2022, the Reserve Bank of India (RBI) authorised Indian banks to open and maintain special rupee Vostro accounts for partner trading countries' banks These accounts hold the foreign banks' rupee holdings with their Indian counterparts

When an Indian trader needs to make a payment to a foreign trader in rupees, the amount is credited to the Vostro account Similarly, when an Indian trader is owed payment, the amount is deducted from the Vostro account and credited to their regular account HDFC Bank and UCO Bank are among the banks that have already opened special Vo s t r o a c c o u n t s t o f a c i l i t a t e overseas trade in rupees Many countries have shown interest in establishing this arrangement for local currency trade

CJ-II

CJ-X

CJ-XI

CJ-XII VACANT

CJ-XIII Helga Bulker Rishi Shpg. 17/03

CJ-XIV Amis Brave Interocean 17/03

CJ-XV Nimble Nicky Mihir & Co. 15/03

CJ-XVA Yangtze Keeper Synergy 19/03

CJ-XVI Asian Bulker DBC 18/03

TUNA VESSEL'S NAME AGENT'S NAME ETD

Star Interocean 15/03

Sapporo Dariya Shpg. 14/03

OIL JETTY VESSEL'S

LIQUID CARGO VESSELS

NSICT

NSIGT

Vessel Name (Voy) Sailing Dt. Next Port

EXPORT SAILING FROM NSFT

10-03-2024 Jebel Ali

EXPORT SAILING

ESL

GFS

BMCT

MSC Rida (V-IU409A) 07-03-2024 AICT

MSC Camille (V-IS408A) 09-03-2024 Mundra

MSC Aby (V-IP410A) 09-03-2024 Hazira

Colombo Express (V-4306W) 10-03-2024 ACMTPL

Seaspan Ganges (V-4110) 11-03-2024 ACMTPL

Cap San Lazaro (V-409W) 08-03-2024 Salalah

Ever Unity (V-E197) 08-03-2024 P. Kelang

X-Press Odyssey (V-24010E) 09-03-2024 Pipavav

Conti Contessa (V-117E) 10-03-2024 Pipavav

Cap Andreas (V-009E) 11-03-2024 Colombo

Borkum (V-24002W) 11-03-2024 Mundra

MSC Leo VI (V-IW408A) 06-03-2024 Colombo

Xin Beijing (V-143E) 06-03-2024 Pipavav

Haian West (V-24008) 06-03-2024 Mundra

MSC Maria Laura II (V-JU409R) 07-03-2024 Sohar

Advance (V-049W) 07-03-2024 Khalifa

CMA CGM Columba (V-OPE8PW1) 07-03-2024 ACMT

Hyundai Colombo (V-37W) 08-03-2024 AICT

Majd (V-24005W) 08-03-2024 MICT

Monaco (V-203W/E) 08-03-2024 Mundra

X-Press Pisces (V-24002E) 08-03-2024 Karachi Maersk Aras (V-410W) 08-03-2024 Mundra

Kota Loceng (V-144E) 10-03-2024 AICT

MSC Laurence (V-XA410A) 10-03-2024 Colombo

KMTC Delhi (V-2401E) 11-03-2024

19/20

B.Pier Kathy Ocean Mitsutor

B.P.

NSDT/COASTAL/NSDT/COASTAL/ NSDT/COASTAL/NSDT/COASTAL/ NSDT/COASTAL/LIQUIDBERTHLIQUIDBERTH LIQUIDBERTHLIQUIDBERTH LIQUID BERTH

NSD-2 Aadinath J M Baxi

NSD-3 XT Prosperity Samudra

Samsara

LB-2 Regency Samsara

´´

W. E. F. 08-03-2024

´´

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