YEARS
Vol. LX No. 102 th WEDNESDAY 17 JUNE 2020
E-Mail: dailyshipping@gmail.com
‘CIX’ Service East Bound
‘CIX’ 2 Service
‘CIX’ 3 Service
‘PMX’ Service
‘AGI’ Service See Pg. 4 - 5
www.dst.news
Exports bounce back to last year’s levels Exports in May shrank 36.47% to $19.05 billion against a 60% contraction in April, which was largely due to overseas orders' cancellation NEW DELHI: The pace of contraction of India's exports slowed in May as relaxations in the lockdown to contain the Covid-19 pandemic led to some pick up in economic activity. The Government expects the trend to improve in June on the back of some early indications. Exports in May shrank 36.47% to $19.05 billion against a 60% contraction in April, which was largely due to overseas
orders' cancellation. Trade deficit narrowed to $3.15 billion in May as the contraction in imports was sharper. The previous low for trade deficit was March 2016 when it was $2.18 billion. Merchandise exports recovered faster than imports but among major items of export, only rice, spices, iron ore, drugs and pharmaceuticals recorded positive growth in May. Cont’d Pg. 13
Container Shipping Industry hit One Network Enterprises, hard by US lockdown : BIMCO PSA Cargo Solutions inks Strategic Partnership OSLO: The coronavirus pandemic has shutdown much of the US economy for months and even as parts of it reopen, the data is beginning to reveal the extent of the damage that has been done and a slow recovery is taking a tentative shape. The second estimate for GDP in the first quarter shows a 5.0% contraction from the previous quarter, and just 0.2% growth from Q1 2019. With lockdown measures having only come into force in late March, the second quarter of the year will prove even more damaging for the US economy. Cont’d Pg. 15
SINGAPORE: O n e N e t w o r k Enterprises (ONE), a leader in solutions for autonomous supply chain management, and PSA Cargo Solutions, a unit of leading global port group PSA International (PSA), on 15 June announced a strategic partnership to expand ser vices for Global Terminal Operations and Logistics. Cont’d Back Pg.