MUM-17-05-2023

India placed 22nd in International Shipments in 2023 against 44th in 2018 : World Bank

NEW DELHI – The maritime sector is steering the economy to greater heights as India jumps to 22nd place for International Shipments in 2023 from 44 in 2018 accordingtotheWorldBank.

PM Modi's vision & initiatives like Sagarmala & PM GatiShakti, National MasterplanforMultimodalConnectivityarepowering India’sgrowth.

Shipping Ministry to host Chintan Shivir on May 21, 22 in Munnar

NEW DELHI - Munnar will host the next Chintan Shivir organised by the Ministry of Ports, Shipping and Waterways on May 21 and 22, 2023.

The two-day meet, which will be inaugurated by the Union Minister Sarbananda Sonowal in the hill station, will discuss the next six months’ target for each port; evaluation of the completion of various projects of Major Ports to be readied for inauguration by October; ATR (action taken reports) on the achievements of the targets set during the previous Chintan Shivirs, etc.

Cont’d. Pg. 6

Asyad Group : Oman’s Major Ports & free zones see momentous commercial & operational growth in 2022

• 8% of combined growth is achieved by Port of Salalah, Sohar Port and Port of Duqm.

• 1,157 containers are handled daily at Salalah Port with a direct connection between China and Yemen via Al Mazyona Border Crossing

• Sohar Port operates new shipping lines to Mediterranean ports.

MUSCAT - Asyad Group, Oman’s flagship integrated logistics provider, has announced momentous operational growth in the Sultanate's free zones and major ports of Salalah, Sohar and Duqmduring2022.

The ports achieved a combined growth of 8% and handled over 62.3 million tons of general cargo, an increase of 10% from the

• 2022 saw the official inauguration of the Port of Duqm in a prestigious international ceremony.

• Asyad Group’s free zones and economic cities managed to attract USD 600 million of committed investments.

previous year. In addition to the impressive general cargo handling performance, the ports' liquid cargo climbed by 22% from 2021 to more than 23.7 million tons, with almost 5.2 million TEUs handled. The ports also handled more than 1.59 million head of livestock and 71.7 thousand vehicles and equipment and receivedover6,500ships.

Cont’d. Pg. 6

Shri Narendra Modi Prime Minister of India

Shipping Ministry to host Chintan Shivir on May 21, 22 in Munnar

Cont’d. from Pg. 3 There will also be an exclusive interaction between the Minister and HODs of Major Ports onsharingtheirideas;sessionsonlighthousetourism;India becoming a global player in shipbuilding and enhancing its tonnage. The session on May 22 will focus on improving the share of cargo handling by Major Ports; system

improvements for optimising port call procedures; Smart Ports(digitisationandstandardisationofallportdocuments and procedures in major ports for smooth functioning and operation of vessels). Sessions on Inland Waterways and Coastal Shipping for increasing cargo traffic will also be held.

Asyad Group : Oman’s major ports & free zones see momentous commercial & operational growth in 2022

• 8% of combined growth is achieved by Port of Salalah, Sohar Port and Port of Duqm.

• 1,157 containers are handled daily at Salalah Port with a direct connection between China and Yemen via Al Mazyona Border Crossing • Sohar Port operates new shipping lines to Mediterranean ports.

Cont’d. from Pg. 3. In tandem with their exceptional combined performance in 2022, Oman’s ports and free zones showcased monumental individual performance, reflecting Asyad Group’s success in developing a worldclass integrated logistics network through facilities that meet the highest international standards of operational efficiency.

Salalah Port, recognized as the world's second-most efficient container port according to the World Bank's ‘Container Port Performance Index 2021’ report, achieved a record-breaking daily handling of 1,157 containers.

Furthermore, in keeping with Asyad Group’s ambitious expansion strategies, the port reinforced its operational capabilities to meet rising global demand by introducing 16 gantrycranesand3 mobile jib cranes to its general cargo dock and inaugurating the development of the container terminal inQ4of2022.SalalahPortalsoestablishedanewshipping line directly linking China and Yemen through AlMazyona border crossing and signed a global strategic partnership to add bunkering to its list of first-rate services, setting itself up as the region’s bunkering destinationofchoiceforvesseloperators.

In a clear reflection of Asyad Group’s success in operational integration, 2022 featured Sohar Port welcoming the first batch of containers transported via Asyad Line from Singaporean and Malaysian ports, reachinga100%occupancyrateandanticipatingayearly occupancy volume of up to 100,000 TEU through this express line alone. Furthermore, Sohar Port launched a direct line passing through the ports of Saudi Arabia, Egypt, Libya and Greece, in cooperation with CMA CGM and Hutchison Ports. Reinforcing its role as a vital maritime gateway for the industrial sector in Oman, Sohar Port also continued to move forward with its expansion plans by signing agreements to expand storage facilities with C. Steinweg Oman and extend the oil storage terminal operation contract with Advario. Moreover, 2022 marked the official inauguration of the Port of Duqm during a prestigious international ceremony in February. Since then, the port began receiving and operating heavy logistics plan and equipment, including mobile gantry cranes and cargo unloading cranes. Additionally, the port signed a USD 3 billion agreement with Jindal Shadeed to build a green

• 2022 saw the official inauguration of the Port of Duqm in a prestigious international ceremony.

• Asyad Group’s free zones and economic cities managed to attract USD 600 million of committed investments.

ironproductionfactoryonanareaof2squarekilometers and penned a reservation agreement in collaboration withMitsui&Co.andKobeSteeltodevelopalow-carbon dioxideemissionferrousmetalsproject.

On the level of free zones, Asyad Group’s Salalah Free Zone, Sohar Free Zone and Khazaen Economic City managed to attract over OMR 600 million in committed investments in 2022, showcasing the Group’s successful strategy of attracting international investment and cementing Oman’s status as a secure and reliable global investmenthub.

Salalah Free Zone inaugurated two megaprojects in early 2023, OQ’s ammonia production factory and the Felix Pharmaceutical factory, both showcasing world-class logistics and production capabilities. In Sohar, the volume of trade exchange exceeded OMR 1 billion, while Khazaen Economic City began construction of the Central Fruit and Vegetable Market, scheduled to open in 2024.

Ahmed Al Bulushi the Group Chief Asset Management Ofcer at Asyad, praised the outstanding performance of Oman’s ports and free zones, stating: "Asyad's strategy to grow and develop the logistics sector in Oman led to an exceptional performance of the Group’s ports and free zones throughout 2022. Despite the unprecedented challenges that strained the global supply chain, we were able to improve our resource management and optimize operational integration between our business units by capitalizing on our maritime assets, including ports, freezones and economic cities, and Oman’s unique geographic location.”

“As part of our efforts to enhance Oman’s connectivity with the world’s major markets, we managed to leverage our ports, free zones and economic cities to take advantage of global challenges, establishing novel maritime lines and attracting foreign direct investments,” Al Balushi added. Asyad Group continues to successfully deliver on its strategy to reinforce its business units and bolster its integrated logistics offerings, encouraged by the outstanding performance of its ports, free zones, and economic cities in 2022. Fulfilling its role as a trusted global logistics partner and the main driver behind national economic growth, Asyad Group forges ahead in its commitment to affirming Oman’s standing as a global logistics hub and ideal investment destination.

ZIM INTEGRATED

SHIPPING SERVICES

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

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

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

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

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

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

Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Indial Indial Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Seahorse Ship U.K., North Continent, Scandinavian Ports & Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos Globelink Globelink WW U.K., North Continent, Scandinavian Ports & Ashdod, Piraeus, Thessaloniki, Athens, Unifeeder Group Unifeeder Ag. U.K., North Continent & Scandinavian Ports. Dron.2 & TLP

TSS L'Global Ag. U.K., North Continent & Scandinavian Ports. Dronagiri-2

AMI Intl. AMI Global U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Dronagiri-3 Kalko Faredeal U.K., North Continent & Scandinavian Ports. Dronagiri-3

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

Safewater Safewater Lines U.K.,

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

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

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

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

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

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

COASTAL SERVICE MOVEMENT

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

Seahorse Ship

Kelang, Singapore, Haiphong, Qingdao, Shanghai, Ningbo.

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

PORTS from GTI

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

TO LOAD FOR AUSTRALIA & NEW ZEALAND PORTS from NSFT

from GTI

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

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

JAIGARH PORT LIMITED

TO

VESSELS DUE AT MUMBAI FOR EXPORT LOADING

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

TO

FOR MED / RED SEA & WEST ASIA GULF PORTS

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FOR KARACHI, COLOMBO, YANGOON AND BANGLADESH

NOTICE TO CONSIGNEES

m.v. “KMTC DUBAI” ZIM VOY KM8 27/E

I.G.M. NO. 2343802

DTD. 15.05.2023

The above vessel is arriving at NHAVA SHEVA (BMCT) on 18/05/2023 with Import Cargo in containers.

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

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

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

For detailed information on cargo availability please contact our office.

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

Container Movement to : OCEAN GATE CONTAINER TERMINAL PVT. LTD.

As Agents :

Indian exports fall sharply (-13%) due to weak Global demand in April 2023

NEWDELHI-India’sgoodsexportsfellthe steepest in three years in April as weakening global demand and declining commodity prices continued to weigh on outbound shipments. Exports declined by nearly 13% in April to $34.66 billion from $39.70 billion in the year-ago period, commerce ministry data showed. The last steepest decline was in May 2020, when goodsexportsplunged35.52%.

Merchandise imports also fell by 14% to $49.90 billion during the month, from $58.06 billion a year earlier. Consequently, the trade deficit narrowed to $15.24 billion from $18.36 billion in April last year. “Imports have declined; part of it is due to thecoolingdownofcommodityprices,and the second part is due to reduced demand for products considered discretionary spending. So, if you look at the major contributors to our decline in imports, they are gems and jewellery and petroleum. Both also have an export orientation.Petroleumproductsandgems and jewellery are high. So, a reduction in demand for products like gems and jewellery is likely to result in a decline of imports as well as exports,” Director General of Foreign Trade (DGFT) SantoshSarangi said.

The demand scenario does not look good as far as the US and Europe are concerned, at least for the next two to threemonths,headded.“Hopefully,things

willchangefromSeptemberonwards.”

Services exports in April jumped 26% to $30.36 billion compared to $24.05 billion a year earlier, while imports surged 17% to $16.05billionfrom$14.06billionduringthe sameperiod.

“The year-on-year decline in the merchandise trade deficit in April 2023 was primarily driven by non-oil items, with the fall in crude oil prices being partly absorbed by higher volumes. After a seasonal shrinkage to sub-$5 billion in Q4FY23, we expect the current account deficit to print at $8-12 billion in the ongoing quarter,” said Aditi Nayar, Chief Economist and Head of Research and Outreach,IcraLtd.

Barring four countries, exports to all top major destinations declined from 4% to 43% in April this year compared with last year. Driven by petroleum product exports, outbound shipments to the Netherlands, UK, Saudi Arabia, and Italy grew 23.04%, 20.69%, 8.38% and 3.59%,respectively.

Meanwhile, overall petro-product exports slipped by 1.38% amid a sharp decline in crude oil prices. Exports in the category last month stood at $6.48 billion compared to $7.86 billion in April 2022.

The price of crude oil was volatile throughout the last financial year on account of the Ukraine war, ranging from

$75-130perbarrel.

Exporters said shipments could improve beginning in July as fresh orders emerge forthefestivalseasonandnewyear.Other top laggards in terms of exports were gems and jewellery, engineering goods, organic and inorganic chemicals and ready-made garments, as demand in Western countries continued to decline duetohighinflation.

“The apparel and garment industry has been impacted fairly badly. If you look at the Bangladesh economy, it has been severely hit due to reduced demand for readymade garments,” DGFT Sarangi said. On the contrary, exports in electronic goods, drugs and pharma, rice, oil meals, ceramic products, and glassware grew marginally.

“The second half of FY23 was quite challenging, considering weak demand from key markets. We are still not out of the woods considering the ongoing war in Europe, the slowdown in major advanced economies, high interest and geopolitical tensions. These challenges are likely to continue their adverse impact on trade,” said Arun Kumar Garodia, Chairman of Engineering Exports Promotion Council India.

April exports show positive growth, however order bookings for festival and New Year season remains the key for its renewed growth : FIEO

NEW DELHI : Reacting to the April, 2023 overall (goods & services) export figures, FIEO President,DrASakthivel saidthatstartingthenew financial year 2023-24 on a positive note with US$ 65.02 billion is good sign even during such challenging times. This not only shows the determination of the resilient exports sector but also efforts and hard work, which the exporting community is putting together. RussiaUkraine war coupled with emerging geo-politicalscenariohasalsomadethe international scenario much tougher fortheexporters.Withtheexpectations that the US economy would soon start showing signs of improvement and

Chinese exports already showing a growth of 8.5 in April, 2023, we hope to continuewiththisgrowthtrajectory.We further hope that exports will start showing better growth numbers starting July, 2023, as things are expected to improve from Q3 of the Calendar year, with fresh orders or orderbookingsforfestivalandnewyear season beginning to come, added DrASakthivel.

Keysectorswhichhaveshownpositive growth during the month of April 2023, include electronic goods, ceramic products & glassware, food grains, fruits&vegetables,oilmeals,oilseeds, spices, tobacco, rice and coffee. FIEO Chief said that though the decline in imports is a good sign for the country,

however, that has led to de-growth in our key export sectors like petroleum products, gems & jewellery, organic & inorganicchemicalsetc.

FIEO President further reiterated that as exports have now become a national priority, which has helped in providing further momentum to the economy. The need of the hour is to provide marketing support for further promoting Brand India products and services globally, GST exemption on Freight on exports along with 3-6 months transition period may be provided, whenever a major change is notified in the Foreign Trade policy, so that the existing contract can be executed factoring the prevailing benefits.

Govt. asks heavy equipment manufacturers to produce locally to check imports

NEW DELHI - The Government has urged the heavy equipment manufacturers to produce such machinery in the domestic market, which will help reduce the country's imports worth over Rs 3,500 crore annually. Currently, Coal India Limited (CIL) alone imports high-capacity equipment such as electric rope shovel, hydraulic shovel etc. worth around Rs 3,500 crore and pays Rs 1,000 crore as customduty,incurringheavyexpenseon purchasing machinery through importing, the Coal Ministry said in a statement.TheMinistrysaiditismaking continuouseffortstodevelopindigenous manufacturing capabilities in coal mining sector in order to further reduce

India's reliance on import of highcapacity mining equipment and to boost itsdomesticproduction.

To achieve this objective, an interdisciplinary high-level committee was formed, members of which include representativesfromseveralMinistries, private and public companies, and industrybodies.Atareviewmeeting,the Ministry held consultations with the stakeholders to suggest ways to boost domestic manufacturing of heavy earth moving machinery (HEMM) and underground mining equipment like high wall (HW) miners, continuous miners, high capacity miners, hydraulic shovelsanddumpers.

"Ithasbeenplannedtophaseoutimport

over the period of next five to six years by encouraging and developing domestic equipment manufacturers' capabilities. Some of the high-capacity machines are presently under trial procurement from domestic manufacturers,"theCoalMinistrysaid. Promotion of indigenous capabilities of equipment shall also ensure reduction in breakdown period of imported equipment which remain under prolonged breakdown due to nonavailabilityofspares,itsaid.

The Ministry said collaborations and joint ventures with internationally reputed equipment manufacturers need to be encouraged.

India’s exports to EU & US grow but Asia and Africa suffer in FY23

NEW DELHI : India’s Merchandise ShipmentstocertainAsianandAfrican regions contracted in FY23, thus weighingonoverallgrowthinexports. There was growth in exports to the European Union and the US, notwithstanding the economic downturn and heightened geopolitical risks in the developed

world. India’s merchandise exports had risen 6.7 per cent to $450.4 billion inFY23.

According to disaggregated data released by the commerce department, a decline in exports to Northeast Asia, comprising China (27.9 per cent), Hong Kong (-9.9 per cent), South Korea (-17.7 per cent),

30 countries now ready to

SHANGHAI : A growing number of countries are showing interest to join the BRICS Alliance and accept the new currency. BRICS could soon becomeBRICS+astheSouthAfrican Ambassador, Anil Sooklal hinted that the alliance could expand this year. The decision to allow other countries to join the bloc could be taken at the next summit in August in South Africa. Sooklal confirmed that more than a dozen countries have formally andinformallyappliedtojoinBRICS. The alliance would become stronger after expansion as their GDPs would race ahead of the U.S. and other Western powers. This could put the dollarandtheEuroonthebackfootas developing nations might end

Japan (-11.5 per cent), pared India’s overall exports growth. While the “Zero Covid” policy in China for most of FY23 reduced demand for Indian goods, Japan and South Korea slashed imports of diamonds and petroleum products from India, as it sourced such items from the sanctioned-hitRussia.

accept BRICS currency

reliance on the USD. Therefore, BRICS stands in a better position to usher in a new global financial order thanatanytimebefore. According to the latest report, 25 countriesarereadytojoinBRICSand accept the new currency for international trade. The countries that have shown interest to join the BRICS alliance are Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, the United Arab Emirates, Thailand, Tunisia, Turkey, Uruguay, Venezuela, andZimbabwe.

BRICS comprises five countries

Brazil, Russia, India, China, and South Africa. Therefore, a total of 30 countries are now participating to dethrone the U.S. dollar from its globalreservestatus.

If these many countries ditch the dollar and begin cross-border transactions with a new currency, the USD could be hit. The dollar could weaken on a global scale and find no meanstofunditsdeficit.Thesoon-tobe-released BRICS currency could have the power to eliminate the dollar’sdominanceinternationally. The countries that are interested to join BRICS are also oil-rich nations. Therefore, the alliance could force European countries to pay with the newcurrencyforoilandnotthedollar.

Inter-Ministerial group looking at impact of EU’s carbon tax on India’s exports

NEW DELHI - An Inter-Ministerial group is looking into the European Union’s (EU) decision to impose a carbon tax on certain goods like steel andaluminium,asitwouldhavesome impact on India’s exports to that region, a Senior Government official said. Director General of Foreign Trade (DGFT) Santosh Kumar

Sarangi said that there are seven commodities on which the EU has imposedthecarbontariff.

ForIndia,onlytwosectorsofsteeland aluminium are likely to be impacted by the new tax while for the rest the impact is minimal as India does not export those commodities to the EU, he told reporters here. “But it will definitelyimpacttosomedegree.The extent to which it can be mitigated, the extent to which our industry can adapt, the extent to which mutual recognition of the testing and certification agencies can happen,

theseareallareasonwhichtheinterministerial group is coordinating,” he said. Commerce Secretary and many other Secretaries are discussing the ways in which it could be tackled, he added.

In terms of calculating the monetary impact of this decision on India, it is stillbeingassessed,Sarangisaid. Citinganexample,hesaidtheEUhas prescribed different mechanisms for imposing the tax on steel manufactured through the electric arc furnace route and through the blast furnace route. The tax will be differentforbothmechanisms.

So how much steel is being manufactured through these two ways, that segregation will have to be doneandthatwilltakesometime. Another official said how far this is compatible with the norms of the World Trade Organisation (WTO), all this“wearetalking”.

The EU is introducing the carbon border adjustment mechanism (CBAM) from October 1 this year. CBAM will translate into a 20-35 per centtaxonselectimportsintotheEU startingJanuary1,2026.

According to economic think tank the Global Trade Research Initiative (GTRI) from October 1, India’s Iron, steel and aluminium exports to European Union countries will face extrascrutinyunderthemechanism. From January 1, 2026, the EU will startcollectingthecarbontaxoneach consignment of steel, aluminium, cement, fertilizer, hydrogen and electricity. In 2022, India’s 27 per cent exports of iron, steel, and aluminium productsofvalueUSD8.2billionwent totheEU.

Cement, fertilizer, and electrical energy are other affected products, butIndiahasnegligibleexportstothe EUintheseproducts.

Russian reserves in Indian banks not due to trade: DGFT

NEW DELHI - Russia does not have any reserves of Indian currency in the special vostro accounts that have been allowed to beopenedbytheReserveBankofIndiato facilitate international trade in rupees, a senior Commerce Ministry official said recently.

“Under Special Rupee Vostro Accounts they do not have any reserves. Reserves areonlyonaccountofsomeofthedefence procurementandsales,”DirectorGeneral ofForeignTrade(DGFT)toldreporters.

“On that account I would not be knowing what exactly are the reserves and what is the mechanism of dealing with that,” he said.

After the Reserve Bank of India came out with the permission and mechanism to allowtradeinlocalcurrenciesinJuly2022, Foreign Trade Policy was amended to allow for internationaltrade settlement in rupees.

Following change in rules, RBI allowed domestic and foreign banks in 60 cases to

open Special Rupee Vostro Accounts of correspondent banks from 18 countries including Russia, Germany, Singapore, Oman,UK.KenyaandIsrael.

InhisrecentvisittoIndiaRussianForeign Minister Sergey Lavron had said that Russiahasaccumulatedbillionsofrupees inIndianbankswhichitcannotuse.

“That is the conversation (dealing with reserves) Department of Economic AffairsandtheMinistryofDefencewillbe having,”Sarangisaid.

India, Russia settling some non-oil trade in rupees: Top UCO Bank official

MUMBAI - India and Russia have been settling some of their non-oil tradeinrupeessincethebeginningof this year, said a top official at staterunIndianlenderUCOBank,whichis involvedinthetransactions.

Last year, the Reserve Bank of India announced a mechanism to settle foreign trade in rupees, aimed at internationalisingitsuse.

Russiaisalsokeentodomoretradein "national currencies and currencies of friendly countries," its Deputy Prime Minister Denis Manturov said in April, to reduce its reliance on U.S. dollars after Western sanctions over itswarinUkraine.

So far, Russia's Gazprombank is the

only foreign bank that has opened a special rupee vostro account with UCO Bank, UCO Chief Executive Soma Shankara Prasad told Reuters.

Prasad said UCO had received requests from other foreign banks, including some from Russia, to open specialrupeevostroaccounts.

"About 19-20 transactions have happened (in rupees) since January ... All these transactions have been IndianexportstoRussia,"hesaid. PrasadsaidRussiawaspayingIndian exporters in rupees from payments received in Gazprombank's rupee vostro account for a "couple" of transactions with Indian importers,

including the purchase of pollution measuring equipment by an Indian buyer.

"We are happy that two-way trade in rupeehasstarted.Itisataveryearly, nascent stage and we hope that this is going to pick up", he said, adding if both sides want, oil trade could be brought under the rupee mechanism after it is fully establishedandtested.

The arrangement mirrors the mechanism India adopted to settle trade with Iran, where its oil payments to Tehran in rupees were used to supply non-sanctioned goods tothe Islamic nation.UCO Bank was alsoinvolvedinsettlingthattrade.

AEPC promoting sustainable manufacturing practices in garment clusters to boost exports

NEW DELHI - Exporters body AEPC recently said it is promoting sustainable manufacturing practices suchasusageofenvironment-friendly technologies to reduce carbon emissionindifferentgarmentclusters ofthecountrytoboostexports.Apparel Export Promotion Council of India (AEPC) is holding a series of deliberations with all stakeholders, including brands, associations, and industryonthesubject.

The council is informing the industry about adopting sustainability practices such as ways to promote water and energy conservation, waste water management and chemicalmanagement,monitoringof carbon emission, and certification for

greenbuilding.Theexerciseassumes significance as the European Union (EU), a key export destination for India, has decided to impose carbon tax on imported goods if their manufacturing process involves pollutingpractices.

TheEUaccountsforabout18percent of the country’s total exports. In a statement, AEPC said it has initiated AISA (Apparel Industry Sustainability Action) to promote such manufacturing practices. The councilhas“hostedroadshowsinthe five prominent garment clusters in the country…from May 5-12 at Tirupur, Mumbai, Bengaluru, Jaipur andDelhi-NCR(Gurugram),”itsaid.

AEPC Chairman Naren Goenka said

the objective of these road shows was to map the existing sustainability status across clusters and to give them an opportunity to showcase their sustainability measures to reputed brands, document best storiespanIndiatoshowcasethemto globalbuyersandbrands.

“The takeaways of road shows will help us to have a policy dialogue with the government for suitable policy interventions for supporting MSMEs for better preparedness in the changing scenario,” he said. Sudhir Sekhri,ViceChairmanAEPCsaidthe global garment production is expectedtoincreaseby63percentby 2030, with a huge contribution by the Indiangarmentindustry.

India and EU affirm commitment to work together on WTO reforms

NEW DELHI - Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal and Executive Vice-President of the EuropeanCommission responsiblefor an Economy that Works for People, and the European Commissioner for Trade, Mr. Valdis Dombrovskis emphasised on the need for expediting the ongoing India-EU FTA negotiations by finding convergence on all issues. This was discussed during the bilateral meeting betweentheleadersonthesidelinesofthe firstMinisterialmeetingofIndia-European Union Trade and Technology Council (TTC). The meeting was also attended by seniorofficialsfrombothsides.

During the bilateral discussions the leaders recalled the long-standing partnership between the two sides and underlinedtheneedtoworktogetherto deepen the association given their commitment to democracy and rule-

based international systems. They emphasised the need for expediting the ongoing FTA negotiations by finding convergence on all issues after due consideration to mutual sensitivities includingonmarketaccessforbalanced and meaningful outcomes that would support the economies and employmentonbothsides.

Both sides also affirmed their commitment to work together on common priorities for WTO reforms including issues pertaining to dispute resolution mechanism, subsidies on agriculture and fisheries, ecommerce moratorium as well as domestic legislations. Both sides recognised the need to build on their common goals to pursue consensus-based solutions that would support the livelihoods and food security for millions in India as well as in large parts of the developing world. They expressed hope that their joint efforts

would enable finding meaningful solutions in the upcoming WTO MinisterialConference.

Thismeetingwasfollowedbyameeting oftheWorkingGroup3Stakeholderscochaired by Mr. Piyush Goyal and Mr. Valdis Dombrovskis. The meeting included stakeholders representing India and the EU. Working Group 3 focuses on Trade, Investment and Resilient Supply Chains. The EU side had representatives from major European industrial bodies including Business Europe, Digital Europe, Food Drinks Europe, Copa-Cogeca, EFPIA and ACEA. The delegation of Indian business leaders attending the meeting in person represented sectors including Chemicals, metals, textiles, digital infrastructure, and steel while representatives of other sectors like agri-food industry, marine/logistics were present in virtualmode.

... Piyush Goyal and Mr. Dombrovskis co-chair meeting of Working Group 3 on Trade, Investment and Resilient Supply Chains

m.v. “MSC SILVIA” V- IU319A I.G.M. No. 2343896 Dt. 16-05-2023 Exch. Rate 84.14

The above vessel has arrived on 17-05-2023 at NHAVA SHEVA (NSIGT) with import cargo to NHAVA SHEVA from JEBEL ALI, NAVEGANTES, PARANAGUA, SAN-PEDRO, VALPARAISO, DAMIETTA, BARCELONA, VALENCIA, TEMA, ASHDOD, HAIFA, ANCONA, GENOA, RAVENNA, SHUWAIKH, ONNE, TINCAN/LAGOS, SALALAH, HAMAD, MESAIEED, LOME, BALTIMORE, NEW YORK, NORFOLK, SAVANNAH, SEATTLE, CAPE TOWN.

Please note the item Nos. against the B/L Nos. for NHAVA SHEVA (NSIGT) delivery.

Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for Nhava Sheva delivery.

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

The container detention charges will be applicable after standard free days from the discharge of containers meant for delivery at Nhava Sheva. The containers meant for movement by road to inland destinations will be dispatched upon receipt of required documents from consignees/receivers and the consignees will be liable for payment of port storage charges in case of delay in submission of these documents. Our Surveyors are M/s. Zircon Marine Services Private Limited. and usual survey conditions will apply. Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.

Incase of any query, kindly contact Import Customer Service - (022) 66378123; IN363-imports.mumbai@msc.com

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

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

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 17/05/2023

VESSELS IN PORT & DUE FOR EXPORT LOADING

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

I.G.M. Nos. filed at Kandla Customs

LIQUID CARGO VESSELS

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

TERMINAL PVT LTD (ACMTPL), MUNDRA

CONTAINER VESSELS DUE / IN PORT FOR IMPORT

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI

OTHER PORTS OF GUJARAT

NB The data in this Daily pertaining to Ports Information is received by us, sometimes even at the eleventh hour by telephonic messages from the concerned Steamer Agents. Therefore, there is every likelihood of last minute change in the data published the

Times exercise every necessary care & attention in collecting every data & getting it published accurately Inspite of this, if any

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

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

I.G.M. FILED AT JAWAHAR CUSTOMS FOR NSFT/NSICT/NSIGT/BMCT/GTI VESSELS

NSICT

Ever Urban (V-172E)(Sailed)

Vessel Name (Voy) Sailing Dt. Next Port

Colombo

Argolikos (V-E150) 11-05-2023 Port Kelang

One Continuity (V-063E) 13-05-2023 Pipavav

Maersk Gironde (V-319E) 14-05-2023 Pipavav

X-Press Bardsey (V-23004E) 15-05-2023 Colombo

OOCL Luxembourg (V-142E) 16-05-2023 Pipavav

Koi (V-OMXF5W1) 17-05-2023 AICT

Jeju Island (V-E019) 12-05-2023 Tuticorin

Maersk Genoa (V-318W) 12-05-2023 Salallah

ESL Dachan Bay (V-02316E) 13-05-2023 AMCT

G. Harmony (V-7INDSTP) 13-05-2023 Mundra

Hyundai Singapore (V-0135E) 14-05-2023 Hazira

Tongala (V-143W) 14-05-2023 Colombo

Northern Practise (V-0040) 15-05-2023 Jebel Ali

Ren Jian 25 (V-2302E) 15-05-2023 Karachi

MSC Eva (V-IW319A) 15-05-2023 Colombo

MSC Francesca (V-FV320R) 16-05-2023

19/20 Kang Cheng Wilhelmsen

21

B.Pier Global Harvest Mitsutor

B.P. Extn. George Parekh Marine

OCT

JNPJNP JNP JNPCT/COASTAL/ CT/COASTAL/ CT/COASTAL/LIQUID BERTH LIQUID BERTH LIQUID

SB-2 Global Lady Preetika

SB-3 Zheng He 3

Apinya Naree J.M. Baxi LB-1 Anafi Samsara LB-2

CB-1 Ren Jian 20 GIL Shipping

CB-2 NSICT / NSIGT

CB-4 Majd Poseidon

CB-5 Maersk Incheon Maersk India

CB-6 MSC Silvia MSC Agency

GTI TERMINALS

GTI-1 GTI-2 Wan Hai 502 Wan Hai Lines (I)

W. E. F. 05-05-2023

Clean

for

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