MUM-13-03-2024

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PM lays foundation stone of projects worth over Rs 1,06,000 cr; Dedicates multiple key sections of Dedicated Freight Corridor

AHMEDABAD: The Prime Minister, Shri Narendra Modi dedicated to the nation and laid the foundation stone of various developmental projects worth over Rs 1,06,000 crores at Dedicated Freight Corridor’s Operation Control Centre in Ahmedabad, Gujarat. The development projects of today encompass multiple sectors including railway infrastructure, connectivity and petrochemicals. He also flagged off 10 new Vande Bharat trains.

Addressing the occasion, the Prime Minister

J M Baxi Heavy: Moving 6700

HAZIRA: J M Baxi Heavy has announced the latest milestone in the realm of heavy transport and load out. Its team has successfully executed the transportation and load out of the TP 13 platform topside module at L&T Hazira yard This colossal achievement not only showcases its expertise but also sets a new benchmark in the industry, informs a communiqué from company

Details of the Project:

The project was driven by an engineering driven solution: involving the transportation and load out of a platform topside module weighing a staggering 6700 tons. Cont’d Pg. 6

acknowledged the lakhs of people connected to the event from more than 200 different places and said that the scale and size of today’s event cannot be matched with any other event in Railways’ history

“In the 75 days of 2024, projects worth more than Rs 11 lakh crores have been inaugurated or foundation stones laid while projects worth Rs 7 lakh crores have been unveiled in the last 10-12 days”, the Prime Minister remarked.

Tons, Setting New Standards

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Tel.: 011-61657900 (Hunting), Fax: 011-66459698 / NDI Fax : 011-66459699, E-mail: ndibiz@evergreen-shipping.co.in

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J M Baxi Heavy: Moving 6700 Tons, Setting New Standards

Cont’d from Pg. 3

To accomplish this feat, we deployed 260 59 MT axle lines (spread across 7 sets of axles) and 12 PPU, totalling 2080 tires, along with 85 ballast pumps. The s h e e r s c a l e o f t h i s o p e r a t i o n d e m a n d e d precision, expertise, and unwavering dedication from our team.

Timelines and Execution:

The transport operation commenced on 7th March at 4:00 PM from the yard., our team navigated with meticulous planning and execution. By 6:45 PM, the module reached the jetty front and was seamlessly aligned to the jetty, showcasing our commitment to safety and efficiency The transfer from land to the barge commenced later that evening, with the first axles crossing onto the barge at 10:40 PM. By 1:05 AM on 8th March 2024, the module was securely positioned on the grillage pre placed on the barge. This precision timing reflects our team's ability to

overcome logistical hurdles and deliver results within stipulated timelines.

Setting New Records:

Notably, this operation marks India's heaviest land move and load out, underscoring our commitment t o p u s h i n g b o u n d a r i e s a n d

redefining industry standards

Our use of advanced equipment, coupled with the expertise of our team, has enabled us to achieve unparalleled success in heavy transport and load out operations.

Jawaharlal Nehru Port Authority embarks on 16 Transformative CSR Projects

NAVI MUMBAI: The Board of the Jawaharlal Nehru Port Authority (JNPA) has announced the approval of 16 impactful projects under Corporate Social Responsibility (CSR) guidelines for Major Ports-2023. These initiatives are designed to address critical needs within the communities surrounding the port, fostering sustainable development and enhancing the well-being of residents.

The approved projects encompass a diverse range of focus areas, including healthcare, education, environment, and community development. Notable initiatives include cancer-related check-ups for underprivileged women, health protection for truck drivers, construction of periphery roads and drainage systems, environmental awareness and skill d e v e l o p m e n t p r o g r a m s , a n d i n f r a s t r u c t u r e improvements in flood and landslide-affected areas.

for healthcare institutions such as KEM Hospital in Mumbai, educational enhancements through Mini Science Centres, and preservation efforts on Elephanta Island. Additionally, vocational training programs for women farmers and infrastructure repairs in various schools further underscore JNPA’s dedication to holistic development.

Commenting on these initiatives, Mr. Unmesh Sharad Wagh, Chair man of JNPA , s t a t e d , “We are committed to making a positive impact on the lives of those living in the vicinity of our port These CSR projects align with our vision of sustainable and inclusive development, addressing the unique needs of the communities we serve ”

The detailed breakdown of projects includes support

“We believe that meaningful change begins with strategic investments in key areas. These projects are a testament to our dedication to fostering a thriving and resilient community,” added Mr Wagh.

The JNPA remains steadfast in its commitment to corporate social responsibility, striving to create a lasting positive impact on the lives of the people in the regions it serves.

YOUR QUERIES - OUR SOLUTION

by Dr. Pramod Sant, A distinguished Industry Expert

QUESTION: What is the Most Favored Nation (MFN) concept? What are the advantages and Disadvantages of MFN? How disadvantages of MFN can be reduced withinthe boundariesofWTORules?

SOLUTION: On the 6 3.2024 issue of Daily Shipping Times (DST), I have covered the answer to the first two parts of the Question and now covered the third part of yourquestion.

How disadvantages of MFN can be reduced within the boundariesofWTORules?

To mitigate the challenge posed by the limited scope for preferential treatment under the Most Favoured Nation (MFN) principle, countries, and trading blocs employ severalstrategies.

1. Bilateral and Regional Trade Agreements: Countries can negotiate bilateral or regional trade agreements with specific countries or groups of countries. These agreements allow for the negotiation of preferential terms, such as lower tariffs or exemptions from certain trade barriers, among participating countries

Example – Various countries including India are using this provision effectively and presently there are around FTA signed across the globe. India has signed with UAE and Australia in 2022 and on Sunday 10 3.24 India signed with thefour-nationEuropeanblocEFTA

2. Plurilateral Agreements: Firstletusunderstandwhatis meant by Plurilateral agreements. Plurilateral trade agreements are agreements negotiated among a subset of WTO member countries that are interested in specificissuesorsectors.

Unlike bilateral and regional agreements, which involve all parties agreeing to the terms, plurilateral agreements are voluntary and open to participation by any interested WTOmember

Participating countries can negotiate preferential treatment in certain sectors or areas of trade, providing flexibility to address their unique economic or strategicinterests.

Example – The goal of ITA is to eliminate tariffs on a wide range of information technology products among participatingWTOmembers.

In 2015, negotiations were conducted to expand the coverage of the ITA to include additional products and to further liberalize trade in the information technology sector

India participated in these negotiations and eventually joinedtheexpandedITAin2019.

3. Special and Differential Treatment: Recognizing the disparities in economic development and capacity among WTO members, special and differential treatment provisions can be incorporated into trade agreements. These provisions allow developing countries and least developed countries (LDCs) to receive more favorable treatment, such as longer implementation periods or technical assistance, to support their integration into the global trading system. This includes

1 ) Longer Implementation Periods 2) Technical Assistance and Capacity Building 3) Transition Measures

4)FlexibilitiesinTradePoliciesetc

Example – India has utilized flexibilities in its trade policies to protect its agricultural sector, particularly small-scale farmers. India has implemented tariff quotas and price support mechanisms for key agricultural commodities to ensure food security and stabilize domestic agricultural markets.

4. Product-Specific Preferences: Instead of granting broad-based preferential treatment, countries can negotiate product-specific preferences within the

framework of trade agreements. This approach allows for targeted concessions on certain goods or sectors of mutual interest while maintaining MFN compliance for otherproducts.

Example – EU's Geographic Indications (GI) Protection :

The EU grants product-specific preferences through its Geographic Indications (GI) protection system. This system provides legal protection to products with specific geographical origins and qualities, such as Champagne from France, Parmigiano Reggiano cheese from Italy, and Scotch whisky from Scotland. These products receive special recognition and protection in international trade, including protection against imitation and unauthorized use of the geographicalindication.

5. Sectoral Initiatives: Countries can pursue sectoral initiatives or agreements focussed on specific industries or sectors where preferential treatment is deemed beneficial. These initiatives allow for deeper integration and cooperation in areas such as agriculture, services, or intellectualpropertyrights.

Example – India's National Solar Mission is a sectoral initiative aimed at promoting solar energy development, reducing greenhouse gas emissions, and enhancing energy security The mission includes targets for solar power generation capacity, financial incentives for solar energy projects, and regulatory measures to support thegrowthofthesolarindustryinIndia.

6. Gradual Liberalization: To address concerns about the limited scope for preferential treatment, countries can adopt a phased approach to trade liberalization Gradual reduction of tariffs and trade barriers over time allowsforadjustmentsandminimizesdisruptions.

Example – Barring some protectionist policies and a few selected items India has implemented gradual liberalization measures as part of its economic reforms agenda and trade agreements. it has also undertaken gradual tariff reductions and trade liberalization measuresovertime.

7. WTO Waivers or Exceptions: In certain circumstances, countries may seek waivers or exceptions from MFN obligations to address specific trade challenges or pursue strategic objectives. WTO members can grant waivers for temporary deviations from MFN treatment, subject to negotiationandapprovalbytheWTOGeneralCouncil.

Example – India’s Public Stockholding for Food Security Purposes India sought a waiver from its WTO commitments under the Agreement on Agriculture to maintain public stockholding programs for food security purposes. India's food security programs involved procuring and distributing food grains to ensure affordable food supplies for vulnerable populations. The WTOGeneralCouncilgrantedatemporarywaivertoIndia. Indiahasusedthisprovisioneffectivelyandisaprominent user of the Agreement on Trade-Related Aspects of Intellectual Property Rights(TRIPS) flexibilities, particularly compulsory licensing, to facilitate access to affordable medicines. Indian companies have produced generic versions of patented drugs, including antiretroviral medications for HIV/AIDS treatment, hepatitis C drugs, and cancer treatments, making them available at significantly lower prices domestically and internationally

This is an important topic and I am glad that you asked thiscriticalquestion

Dr. Pramod Sant

Govt eases import quality rules to help exporters

NEW DELHI: The Government has exempted from imported goods that are used as inputs for exports from stringent quality control norms.

To give a push to e-commerce exports the government has also decided that the Electronic Bank Realisation Certificate (EBRC) will be self-generated from now Earlier EBRC issued by a bank as confirmation that the exporter has received payment from the importer against the export of goods. For issuing EBRC certificate b a n k s c h a r g e a f e e o f a r o u n d Rs 1500. EBRC is an essential document for claiming export benefits.

“This (self generated EBRC) will help small exporters especially e - c o m m e r c e e x p o r t e r s w h o s e shipments are in small volumes and margins are small,” Director General and Chief Executive Ofcer of

Fe d e r a t i o n o f I n d i a n E x p o r t Organisations Ajay Sahai said.

Announcement of both these decisions came after the review m e e t i n g o f e x p o r t s c e n a r i o b y Commerce and Industry Minister Piyush Goyal with different export promotion councils.

The exemption from mandatory quality control orders (QCOs) for imported inputs for exports have been a long-standing demand as it adds to costs.

The QCOs are applicable to products domestically manufactured as well as imported. Every manufacturing unit in and outside India has to comply with the QCOs if they want to sell locally The focus of the government is to bring more and more products under the ambit of QCOs for the development of the quality ecosystem in the country

and to provide the consumers with quality products This also checks imports of poor quality cheap products into the country and provides protection to domestic industry.

Sahai said that despite recent geopolitical disruptions and the crisis in the Red Sea, this year’s goods and services exports will touch last year’s level of $770 billion.

He said despite the Red Crisis the impact on shipments have not been much as an increase in shipping costs has hit India and its competitors in Southeast Asia equally

As the conflict in the Red Sea still continues there has been a further increase in freight rates to the US of another $1000 for a 20-foot container early this month. Now it costs $8000. Rates of transportation of a container to Europe are now $4400.

Multi Modal Logistic Park near Nanjangud to give a boost to export industries

NEW DELHI: The commissioning of the Multi Modal Logistic Park at Kadakola near Nanjangud by Prime Minister Narendra Modi recently is set to give a boost to local export industries besides fulfilment of a demand that was pending for decades.

L ocated in the Thandavpura i n d u s t r i a l a r e a , t h e C o n t a i n e r Corporation of India has invested over 112.75 crore for the project which is spread over 60 acres of land procured from the Karnataka Industrial Area Development Board.

The Divisional Railway Manager Ms. Shilpi Agarwal who shared details of the projects in the Mysuru division told media persons here on Monday that the Gati Shakti Multi Modal Cargo

Terminal (GCT) or the Multi Modal Logistic Park at Kadakola will provide seamless connectivity to major ports like the New Mangalore Port. The new facility will provide efficient rail and road transportation for both domestic and export-import cargo movements.

This initiative, part of the Gati Shakti programme, will revolutionise the logistic infrastructure in Karnataka’s southwest region, fostering economic growth and creating employment opportunities, said Ms.Shilpi Agarwal.

Sharing details of the MMLP at Kadakola, Ms. Shilpi Agarwal said it was equipped with state-of-the-art features and warehousing facilities, loading and unloading platforms, and a n e r g o n o m i c a d m i n i s t r a t i v e

building It has three full-length platforms and stringent security measures including fire-fighting systems and CCTV surveillance to e n s u r e o p e r a t i o n a l s a f e t y a n d security, she added.

The local stakeholders including industrialists have welcomed the commissioning of the MMLP and said that they expect a wide catchment area for the MMLP including Kodagu, and Chikkamagalur from where coffee is e x p o r t e d , a n d t h e m o d e o f transportation can shift from road to rail. Besides, the MMLP will provide a single-window facility for clearing documentation related to export and import making the business less tedious.

IS410A P2794 1086041-11/03 SCI CMT Barcelona,Felixstowe,Hamburg,Rotterdam,Gioia 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

15/0316/03 15/03 0900

Javelin IP411A P2749 292805-06/03 MSC MSC Agency Boston, Philadelphia, Miami, Coronel, Guayaquil, Cartagena, Hind Terminals 22/0323/03 22/03 0900

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. AMI

Lines (I) (RGI) (RGI) UnifeederUnifeeder

13/03 14/03 Maersk Virginia 411W P2643 291705-19/02 Maersk Line Maersk India Jebel Ali, Salallah (Blue Nile) Maersk CFS

14/0315/03 14/03 0300 Zhong Gu Chang Sha 02409W P2672 292285-27/02 Emirates Emirates Shpg. Jebel Ali, Damman, Sohar. (West Bound)

(IIX)

15/0316/03 15/03 1700 Little Warrior 02409W P2597 291887-21/02 Aladin Line ALX Shpg. Sohar, Sharjah, Hamax, Bahrain, Dammam.

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

16/0317/03 16/03 0700 MSC Tampico

From GTI

India 03/0404/04 TBATBA Beijing Bridge 2403E P2769

Sinokor Sinokor India Seabird CFS (CSC)

TS Lines TS Lines (I)

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

Blue Water PoseidonShpg. Shanghai, Ningbo, Qingdao. Speedy CFS 21/0322/03 TBATBA Seattle Bridge 089E P2765

Evergreen Evergreen Shpg. P.Kelang, Tanjun, Pelepas, Singapore, Xingang, Balmer Law. CFS Dron. 25/0326/03

TBATBA Ever Sigma 125E P2770 292916-07/03

UnifeederUnifeeder Qingdao, Shanghai, Ningbo. Dronagiri 01/0402/04

TBATBA Celsius Naples 901E P2789 293101-11/03 PIL/ONE PIL India/One(I) —/— 08/0409/04 TBATBA TS Ningbo 24002E

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 28/0329/03 TBA 0900 MSC Ilenia FD407E

MSC MSC Agency Dalian, Shanghai, Ningbo, Yantian. (DRAGON EB) Hind Terminals 01/0402/04 TBATBA Gregos 2406E

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

Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS 22/0324/03 TBATBA Wan Hai 513 E091 P2775

COSCO COSCO Shpg. Ningbo, Shekou. 29/0331/03 TBATBA Wan Hai 311 E231

InterasiaInterasia (CI2)

15/0317/03 15/03 0600 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, 27/0329/03 TBATBA Seaspan Adonis 074E

Yang Ming Yang Ming(I) Shanghai, Ningbo, Shekou. Contl.War.Corpn. 02/0404/04 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 16/03 1200 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)

19/0320/03 TBATBA ESL Kabir 02408E P2683 292349-28/02 Emirates Emirates Shpg.

SeaLead SeaLead Shpg.

17/0318/03 16/03 2200 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 P2768 292926-07/03 X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang.

29/0330/03 TBATBA Wide Alpha 245E Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri

07/0408/04 TBATBA Clemens Schulte 031E 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 P2798 293161-11/02 APL CMA CGM Ag. Dron.-3 & Mul.

02/0404/04 TBATBA Zim Haifa 26E

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

18/0420/04 TBATBA OOCL Hamburg 149E COSCO COSCO Shpg. Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo. 23/0425/04 TBATBA OOCLLuxembourg 109E

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

In Port 14/03

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

TS Lines TS Lines (I) Pusan, Ningbo, Shekou, Singapore. Dronagiri-2 30/0331/03 TBATBA Ian H 02410E COSCO COSCO Shpg. (AIS SERVICE)

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

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

16/0317/03 16/03 0700 One Matrix 077E P2709 292577-02/03 ONE Line ONE (India) Port Kelang, Hongkong, Shanghai, Ningbo, Shekou

11/0412/04

26/0327/03 TBATBA Ever Ulysses 158E P2732 292729-05/03 CU Lines Seahorse Ship

31/0301/04 TBATBA Synergy Keelung 011E Evergreen Evergreen Shpg. BalmerLaw.CFSDron. 07/0408/04 TBATBA Kota Layang 094E InterasiaInterasia (RWA / CIX 4)

14/0415/04 TBATBA API Bhum 007E Emirates Emirates Shpg.

19/0320/03 TBA 0900 MSC Rania GA411R P2764 292914-07/03 MSC MSC Agency Port kelang, Singapore, Tanjung Pelepas, Laem Chabang, Hind Terminal (SENTOSA SHIKRA) Vung Tau, Da Chan Bay, Shekou

20/0321/03 TBATBA ACX Diamond 323W/E P2755 ONE Line ONE (India) Singapore

21/0322/03 TBATBA Safeen Prism 007W Samudera Samudera Shpg. (SIG) Dronagiri 26/0327/03 TBATBA Xin Hongkong 069E P2774 292958-07/03

In Port 13/03 AS Sicilia 932 P2665 292215-26/02 ONE Line ONE (India) Mombassa, Beira, Maputo. (MJI)

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 SERVICE)

19/0320/03 TBATBA CMA CGM Kribi 0MSIFW1 P2739 Maersk Line Maersk India Durban, Luanda, Pointe Noire, Aapapa, Tincan, Maersk CFS

26/0327/03 TBATBA Maersk Zambezi P2746 CMA CGM CMA CGM Ag. Cotonou (Direct), Port Elizabeth, Port Louis (MESAWA) Dron.-3 & Mul. 23/0324/03 TBATBA Fayston

PM lays foundation stone of projects worth over Rs 1,06,000 cr; Dedicates multiple key sections of Dedicated Freight Corridor

Cont’d from Pg. 3

Noting that today’s organization is a crucial step towards accomplishing the goal of Viksit Bharat, the Prime Minister said that projects worth about Rs 1 lakh crore have been inaugurated or foundation stones laid where projects worth around Rs 85,000 crores are dedicated to railways. He also touched upon laying the foundation Stone of Petrochemicals complex of Petronet LNG at Dahej worth more than Rs 20,000 crores and informed that it will help boost hydrogen production and demand for polypropylene in the country Referring to the foundation stone laying of Ekta Malls in Maharashtra and Gujarat, PM Modi said that it will take India’s cottage industry and handicrafts to every corner of the country, thereby emboldening the government’s mission for Vocal for Local and strengthening the foundations of Viksit Bharat. Reiterating the young demographics of India, the Prime Minister told the nation's youth that today’s inaugurations are for their present and today’s foundation stones guarantee their bright future.

The Prime Minister said that under Gati Shakti Cargo Terminal Policy, construction of Cargo terminal has increased as land leasing policy has been simplified and has been made online leading to transparency He also mentioned the establishment of Gati Shakti University.

The Prime Minister continued with the modernizationrelated initiatives of railway and informed about the project of abolishing unmanned crossing and automatic signaling systems. He said that the country is moving towards 100 percent electrification Solar-powered stations and Jan Aushadhi Kendras are coming up on stations.

The Prime Minister presented Eastern and Western dedicated freight corridors as an example of development in the last 10 years. This separate track for goods trains improves speed and is important for agriculture, industry, export and business. In the last 10 years, this freight corridor, connecting the east and west coasts, has been almost completed. Today about 600 kilometers of freight corridor has been inaugurated, and the Operation Control Center has been inaugurated in Ahmedabad. Due to the efforts of the Government, the speed of goods trains on this corridor has now more than doubled, he said He further said that an industrial corridor is being developed in the entire corridor Today, Railway Goods Shed, Gati Shakti Multimodal Cargo Terminal, Digital Control Station, Railway Workshop, Railway Loco Shed, and Railway Depot have also been inaugurated at many places. This will also have a very positive impact on freight transportation, he added.

DP World Cochin achieves Record Throughput of 75,141 TEUs in February 2024

COCHIN: DP World operated I n t e r n a t i o n a l C o n t a i n e r

Transshipment Terminal (ICTT) at Cochin, scaled another milestone in its journey by handling a record volume of 75,141 TEUs in February 2024, registering a 38% volume growth over February 2023.

The substantial growth of cargo handled by ICTT is a testament to the pivotal role it plays as a preferred gateway and a growing transhipment hub for cargo movement to and from markets in south India. Cochin connects close to 50% of Export Import cargo directly to the Middle east, Far East, Europe, and the Mediterranean through mainline services. The terminal also acts as a key hub for the flow of coastal cargo between the east and west coast of India.

ICTT recently commissioned two state-of-the-art STS (Ship-to-Shore) Mega Max cranes that can handle up to a width of 25 container rows These coupled with the recently added four e-RTGs and yard capacity expansions have enhanced the ability of the terminal to

offer faster vessel turnaround times while offering sustainable movement of cargo These have also strengthened the terminal’s productivity with increased lift capacity and enhanced the handling ability of ULCVs (ultra-large container vessels) at the terminal.

Praveen Joseph, CEO, DP World Cochin said, “The achievement of this important milestone immediately after the expansion of the terminals capacity and operational capabilities is a testament of our customers belief in the value we offer Along with the outstanding support of Cochin Port Authority, we are committed to continuously improve our solutions to meet our customers' evolving needs.”

Since its inception in 2011, ICTT has managed a cumulative volume of 6.9 million TEUs. The terminal is committed to its role of being South India’s most preferred gateway by providing customers with direct service lines to more than 12 ports on both coasts of India, in addition to serving multiple international ports.

DPWorld Cochin Welcomes Two Mega Max Quay Cranes

Customer Vessel at Cochin Terminal

NOTICE

The above vessel is arriving at

also transshipment cargo of following Ex. Mother vessels:

import cargoes from ports

Consignees

Consignees are also requested to note that the carriers

their Agents are not bound to send individual notifications regarding arrival of the vessel or the goods.

Adani Airports has Rs 60,000-crore capex plan for next 10 years : Karan Adani

AHMEDABAD: The Adani Group has lined up Rs 60,000 crore to expand the seven existing airports in its portfolio over the next 5-10 years, Karan Adani, MD of Adani Ports and Special Economic Zone, said.

Adani Airports Holdings (AAHL) ChiefExecutiveOfficerArunBansalsaid Rs 30,000 crore will be spent on the ‘airside’ in the next five years, while the restwillbeallocatedtothe‘cityside’inthe next five to 10 years at its seven existing airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Guwahati, Jaipur and Thiruvananthapuram.

The capital expenditure (capex) of

Rs 60,000 crore does not include the Rs 18,000 crore allocated for the P h a s e - I d e v e l o p m e n t o f t h e Navi Mumbai airport, scheduled to commence operations by March 2025, clarified Bansal.

Both Bansal and Karan Adani were speaking to journalists on the sidelines of the new terminal inauguration at Lucknow Airport on March 10, built at a cost of Rs 2,400 crore. This will be able to handle 80 million passengers a year

“The current capacity of our airports is 10-11 crore passengers annually (CPA). This will be increased

by up to three times. Lucknow has got a new terminal Navi Mumbai will open next (by next March). Then Guwahati airport will get a new terminal. We are planning new terminals for Ahmedabad and Jaipur also. Overall, we are looking at a combined capacity of 25-30 CPA by 2040,” Karan Adani said. He added that these investments will be funded through internal accruals of parent company Adani Enterprises Ltd, and the group has not made any firm plans on listing the airport subsidiary of the company, Adani Airport Holdings Limited, yet.

Govt can withdraw duty concessions if EFTA doesn’t invest $100 billion

NEW DELHI: India will have the option of temporarily withdrawing customs duty concessions on EFTA countr y goods under the trade agreement between the two sides, if the four European nation bloc would not fulfil its $100 billion investment obligations.

Though the investments have to flow in 15 years — $50 billion in the first 10 years (counted after implementation of the pact) and another $5 billion in next five years, the trade deal also provides for a three-year grace period to the EFTA bloc to meet the obligations, a c c o r d i n g t o t h e d o c u m e n t s accompanying the agreement.

India and four-nation European Free Trade Association (EFTA) bloc s i g n e d Tr a d e a n d E c o n o m i c Partnership Agreement (TEPA) on March 10 under which New Delhi received a foreign direct investment commitment of $100 billion in 15 years from the member countries of the grouping.

The EFTA members are Iceland, Liechtenstein,Norway,andSwitzerland

There is a three-stage Governmentto-Government consultation process prescribed in the document for resolution of differences raised in relation to the obligations.

“If, after the consultation period, India is still of the opinion that the EFTA s t a t e s h a v e n o t f u l f i l l e d t h e i r obligations, India may, after a further grace period of three years, suspend concessions The suspension of concessions needs to be proportionate and temporary,” according to the agreement documents posted on EFTA website.

It would take around a year for the agreement to come into force.

The investment promotion and cooperation chapter of the agreement talks about a regular review by a specially appointed sub-committee, and it provides for a three-stage consultation procedure which can be invoked by India if the defined target has not been reached after 15 years

An investment sub-committee would review progress towards the achievement of the shared objectives.

The first review by the committee will be held no later than 5 years after entry into force of this agreement. Similarly, the second review would take place after 10 years.

The final review shall take place 15 years after entry into force of this agreement.

The document, however, stated that in case of occurrence of any unforeseen circumstances like global pandemic, war, geopolitical disruptions, financial c r i s i s o r s u s t a i n e d e c o n o m i c underperformance, which have had a material bearing on the progress to achieve the shared objectives, the two sides will adjust the shared objectives accordingly

To facilitate investments India will have to ensure a favourable investment climate while taking into account the need to identify, assess and mitigate potential risksforsecurityorpublicorder.

As per the documents, all the duty cuts would be carried out over a period of 10 years with different timelines for each category of goods by India for EFTA member countries.

PPA already crosses last fiscal’s Cargo throughput mark

P A R A D I P : T h e commitment & resolve shown by Team PPA saw t h a t P a r a d i p P o r t Authority, clocked highest ever cargo throughput of 135 68 MMT since its inception, 23 days in advance of the current FY 2023-24 Earlier record was 135 36 MMT achieved in FY 2022-23. Paradip port, known for the highest productivity and the lowest tariff is expected to draft a new chapter, in its history of 57 years, by becoming the No 1 cargo handling Major Port of the country, during the current fiscal It is poised to touch historic 145 MMT mark.

Shri P.L. Haranadh, Chairman,

PPA congratulated the Team PPA for this magnificent performance. He has expressed his heartfelt gratitude to H o n ' b l e U n i o n M i n i s t e r Shri Sarbananda Sonowal Ji under whose able leadership & guidance, Team PPA achieved the the enviable record Cargo volume handled by PPA in current fiscal till Februray end exhibited 8.14% stellar growth. Coal handling amounting to 58.78 MMT constitutes about 44 42% of total cargo volume handled at the Port Iron Ore and Pellet cargo has grown by remarkable 48 86% thus by clocking 23 79 MMT Record nos of 2545 vessels made Port of call till 8th March in comparison to 2200 nos. during the

corresponding time period in previous tiscal. The Port has also registered remarkable improvement in the Key Performance Parameters Berth productivity stands at 32751 MT per day per ship, which is the highest among all Major Ports of the country Average Turnround time has improved to 41 85 hrs from last year's 46 77 hrs T h e P o r t ' s c o m m i t m e n t t o operational excellence, coupled with strategic improvements in cargo handling, has positioned it as a key player in catering to the growing needs of the industry Sustainable marketing pitch has brought PPA closer to its Port Users and geared up for more accomplishments in times to come.

Boosting India’s exports potential – Key to a narrower trade deficit

MUMBAI: India’s overall trade deficit during April-December 2023 improved from $108 billion in 2022 to $69 b i l l i o n i n 2 0 2 3 Fu r t h e r m o r e , merchandise trade deficit improved from $212 billion in April-December 2022 to $188 billion in April- December 2023. This narrowing of the deficit has happened due to the reduction in import of crude oil and petroleum products. While the growth in exports during the same period has been modest, the Government is focusing on increasing India’s manufacturing prowess to cater to the rising domestic and international demand.

As per Petroleum Planning and Analysis Cell (PPAC), India’s crude oil imports actually increased in volume to 172 9 million tonnes in the period of April-December 2023, from the 172 3 million tonnes in the same period in FY2023. The net oil and gas import bill fell a significant 21% year-on-year during April-December of FY2024, with the total decreasing to $89 9 billion, primarily due to lower oil prices. 2022 and 2023 observed an escalation in geopolitical conflicts with the onset of the Russia-Ukraine Conflict and the Israel-Hamas Conflict respectively, leading to the rise in prices of crude oil. While the conflict continues, a weak global economic outlook is raising concerns over demand for crude oil. Thus, the average price of Brent Crude Oil has reduced from $99.04/barrel (bbl) in CY2022 to $77.92/bbl in CY2024YTD.

Development of infrastructure has a multiplier effect on demand and efficiency of logistics which increases manufacturing competitiveness, and

i n c r e a s e s c o m m e r c i a l a n d entrepreneurship opportunities.

Fo r s u p p o r t i n g i t s m i s s i o n o f A a t m a n i r b h a r B h a r a t , t h e Government has been stepping up its capex and announcing a slew of supportive policies like conducive tax environment, Production-Linked Incentives (PLI) for different sectors to provide impetus to diversification o f s u p p l y c h a i n o p e r a t i o n s b y multinational companies to India This rise in domestic manufacturing is helping to reduce our import dependency on other countries

Since the pandemic, Government capex has risen sharply, with centre and state capex estimated to rise to ~6% of GDP in FY2024 from 3.6% in FY2020. Investment in assets by listed companies stood at 8.1 lakh crore on a trailing 12-month basis as of Sep-23 –17% higher than Sep-22 levels. These levels are expected to rise over the medium term on the back of PLI, policies around Make in India, low corporate tax, deleverage balance sheets and others.

As per a 2022 report by Bain & Company named “The Trillion-Dollar Manufacturing Exports Opportunity for India” all these megatrends in manufacturing, along with Mergers and A c q u i s i t i o n s a n d P E / V C - l e d investments, are expected to help India to scale up its manufacturing exports to $1 trillion by FY2028 Much of this growth is expected to come from select s e c t o r s l i k e c h e m i c a l s , p h a r m a c e u t i c a l s , e l e c t r o n i c s , automotive, industrial machinery, and textiles.

The recent rise in Services Exports has been driven by continued rise in spends on Information Technology (IT) In the last 3 years, the setup of Global Captive Centres, also known as Global Capability Centres (GCC) have seen significant increase, and has resulted in other business services exports rising to 0.8% of GDP (on TTM basis).

As per EY’s latest “Future of GCCs in India–avision2030”report,itisestimated that the domestic GCC market size will reach $110 billion by the year 2030, with 2,400 GCCs While there are fears of a global economic slowdown, India continues to have, amongst other factors, the availability of a large talent pool, cost advantage, and acceptability of remote working All these factors bode well for the growth of the sector overall, and could help India emerge as the world’s technology and services hub, and potentially give a boost to India’s overall exports.

While the trajectory of the trade deficit remains uncertain due to various factors, the Government continues to focus on boosting India’s exports

For example, initiatives like PLI, PM Gati Shakti Mission and others, are helping electronic products companies to set up their manufacturing units, and raising exports potential while also reducing import of such goods With the increase in domestic manufacturing, India’s mobile exports have been increasing, touching $8 billion in 7MFY2024 (ICEA) –72% of FY2023’s exports of $11.1 billion. Such concerted efforts in other sectors are likely to support the growth of the economy

Railway infra project launch to transform Ludhiana’s freight landscape

NEW DELHI: In a much-needed relief for the industrial hub of the landlocked state, the Railways is gearing up to initiate operations of goods trains on a 401km section from Sahnewal to New Khurja in Uttar Pradesh, part of the Eastern Dedicated Freight Corridor (EDFC).

The commencement of freight train operations on this dedicated corridor is expected to yield substantial reductions in logistics costs and transit time for containers and essential goods The successful trial run conducted by the railways on this corridor in Oct last year has paved the way for this upcoming operational phase, said officials of the Railways.

This 401km long section passes through Punjab, Haryana, and Uttar Pradesh and the entire Eastern Dedicated Freight Corridor (EDFC) enhancing connectivity to the ports of West Bengal, they added.

Surender Kumar, Nodal Officer of the Dedicated Freight Corridor Corporation of India (DFCCIL), said, “The first goods train on this section will depart from Sahnewal railway station at 8 a m o n Tu e s d a y w h e n t h e P M inaugurates and lays foundation stone of several development project of the railway.”

‘Transit time to be reduced by upto 50%‘

Badish Jindal, President of the All

Industries and Trade Forum, said, “The EDFC is likely to reduce transit time of containers by upto 50%. Due to priority to the passengers trains on railway tracks, goods trains take over 10 to 12 days to transport containers to ports. Now, they will take upto six days for the same.”

He added, “Now that we have a dedicated corridor, we are expecting Railways to reduce transportation costs.”

Gurmeet Singh Kular, President of Fe d e r a t i o n o f I n d u s t r i a l a n d Commercial Organisation (Fico), said, “It will be a great push to the local industry. as it will be able to deliver goods on time and save money.”

‘Ore shortage’ hitting steel production, says sponge iron industry, seeks ban on exports

NEW DELHI: The domestic sponge iron manufacturers fear a continuous shortage of iron ore may bring it to the brink of collapse. Sponge iron is used as a raw material to make finished steel in electric-arc or induction furnaces.

India has been the world’s largest sponge iron-producing nation since 2003, and 30% of India’s steel production come via this route. The ore shortage, industry sources feel, is due to the

rampant export of the crucial steelmaking raw material.

Without captive sources, the sector generally buys iron ore from merchant miners, including PSUs, to meet its annual needs of around 80-85 million tonnes (MT). (FY24). The skyrocketing exports, Chhattisgarh Sponge Iron M a n u f a c t u r e r s A s s o c i a t i o n President Anil Nachranai, said, leaves a very minimum quantity available for

use by secondary steel sector players.

“Primary steel producers have also started exporting iron ore in its various forms fines, lumps, and pellets from their captive mines. They are also buying from merchant miners,” Nachrani alleged. He said the sponge iron sector is incurring losses operating at an 80-85% capacity utilisation level due to inadequate availability of iron ore and its higher costs.

CJ-VI

CJ-VIII

CJ-XVA

CJ-XVI Asian Bulker DBC 18/03

PORT

OJ-III

OJ-IV Paramita

OJ-V VACANT

OJ-VI VACANT

OJ-VII VACANT

NSICT

NSIGT

(V-130E) COSCO Shipping 2371081 11/03

Maersk Virginia (V-411W) Maersk India 2371116 11/03

MSC Thais (V-XA410A) MSC Agency 2371120 12/03

X-Press Altair (V-24006W) Sea Consordium 2371123 12/03

Seaspan Oceania (V-039W) COSCO Shipping 2371159 12/03

Zhong Gu Chang Sha (V-2409E) Seahorse 2371183 12/03

Vessel Name (Voy) Sailing Dt.

BMCT

Jebel Ali

APL Cairo (V-OUW21W1) 10-03-2024 Jebel Ali

GFS Giselle (V-24002E) 09-03-2024 MICT

Abrao Cochin (V-014W) 10-03-2024 Sohar

Maersk Pittsburgh (V-409W) 10-03-2024 Salalah

Maersk Cape Town(V-411S) 10-03-2024 Port Qasim

Shimin (V-19E) 12-03-2024 AMCT

Halsted (V-409S) 12-03-2024 Durban

CMA CGM Masai Mara(V-OMSIDW1) 13-03-2024 Pointe Noire

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

MSC Giada III (V-IB409A) 13-03-2024 Colombo

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

Haian East (V-24009) 12-03-2024 AICT

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 AICT

MSC Capella(V-GA410R) 12-03-2024

Seamax Westport (V-093E) 13-03-2024 Pipavav

19/20

GTI-2 Bright Oasis Oasis Shipping

BMCT-1 Wan Hai 332 Wan Hai Lines (I)

BMCT-2 SSF Dream Sima Marine

BMCT-3 COSCO Glory COSCO Shipping

´´ CUSTOM EXCHANGE RATES ALL RATES PER UNIT

W. E. F. 08-03-2024

ON 12-03-2024

´ ´ ´ ´ FOREIGN EXCHANGE RATES

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