NEW CUSTOM EXCHANGE RATES W.E.F. 17-07-2020
YEARS
Vol. LX No. 123 th FRIDAY 17 JULY 2020
..See Pg. 21
E-Mail: dailyshipping@gmail.com
Inland waterways cost-effective multi-modal initiative to connect India and Bangladesh ..See Pg. 11 Export, imports fall for 4th month in June, but trade turns surplus after 18 years ..See Pg. 13
Will Container Shipping reliability ..See Pg. 14 come back?
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PSA Mumbai achieves Record Rail Volumes in June 2020 NAVI MUMBAI: In the month of June, Bharat Mumbai Container Terminals (PSA Mumbai) in India, achieved a new milestone in rail volumes, handling 13,601 TEUs alongside 111 rakes and surpassing the previously set record of 11,450 TEUs and 94 rakes. As a result of the increase in volumes, PSA Mumbai’s rail market share within Jawaharlal Nehru Port Trust (JNPT) terminals increased from an average of 13.5% to 20%. PSA Mumbai’s own throughput rail share also increased from 13% to 22%. PSA Mumbai’s import-driven rail market also saw an increase in exports transported by rail instead of via road for the first time, with rail’s share of transport increasing from an average of 38% to 52% in the month of June. This is consistent with
the trade’s increasing shift from road towards rail in India, which has greater resilience to counter the challenges faced by the supply chain amid the COVID-19 restrictions. Con’t.d Back Pg.
Exporters facing GST refund issues DP World & Virgin Hyperloop brings as invoice matching made Hyperloop systems closer to reality compulsory for input tax credit MUMBAI: Many exporters are facing a working capital crunch as they have run into refund problems after a recent Government Circular said Exporters would not be eligible for input tax credit refunds in cases where they are unable to match invoices from the vendors. This situation is a result of the government waiving off late fees for companies and suppliers to upload certain forms under the goods and service tax, tax experts said. Con’t.d Pg. 11
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DUBAI: DP World has lauded a decision by the US House of Representatives to pass legislation requesting a regulatory framework for the safe deployment of hyperloop systems. The Non-Traditional and Emerging Transportation Technology (NETT) Council in the US is expected to issue guidance within the next six months to help set out a clear regulatory framework for the industry. The Dubai- based provider of worldwide smart end-to-end supply chain logistics launched the ‘DP World Cargospeed’ Con’t.d Back Pg. international brand in 2018.