MUM-19-05-2023

Considering extension of PLI scheme to some labour-intensive sectors: DPIIT Secretary

NEW DELHI: The benefits under the production-linked incentive (PLI) schemeareyieldingpositiveresultsand there is an intention to roll out these support measures for more labourintensive sectors such as toys, leather and footwear, a Top Government official saidrecently.TheGovernmentprovides financial incentives under the PLI schemetoasmanyas14sectorssuchas telecommunication, white goods, textilesandpharma.

"PLI scheme is showing significant

dividends across many sectors. The intentionistoalsorolloutthisPLIscheme for more labour-intensive sectors such as toys, leather and footwear and other such sectors where employment benefits will be more significant," Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh saidhereatanindustryinteraction.

He also said that India has attracted significant foreign direct investment (FDI)lastyear.

"Our FDI policy is practically open sky in the sense that except for defence and certain strategic sectors, everything else is open and is automatic,"hesaid.

Singh said that the macroeconomic fundamentals of the country are strong anditisgrowingatahealthyrate.

"We have a stable Government and Regulatory systems are stable and predictable"andduetothis,Indiawould be able to attract investments from acrosstheworld,headded.

Exports unlikely to be impacted by EU deforestation law

NEW DELHI: India's exports to the European Union (EU) are unlikely to getimpactedbyalegislationthatthe27member bloc adopted on Tuesday on deforestation-free products, officials said. However, New Delhi will work on mutual recognition of certification with the EU as India's afforestation performance is better than many countries and its forest cover has risen overtheyears.

The legislation seeks to prohibit products such as palm oil, coffee, cattle, cocoa, rubber, soya, timber,

printing paper and derived products in the EU, that came from land that was deforested after December 31, 2020. The rules cover imports and domestic production.

"Our companies are better compliant with rigorous processes. Our forest cover has also gone up," said an official.

As per India State of Forest Report, 2021, the total forest and tree cover saw anincreaseof15,292sqkmfrom2015.

India's total exports to the EU in FY23 were worth $74.8 billion and

imports were worth $59.8 billion. Coffee, tea and spices exports to the EU were worth$640.9millionlastfiscal.

"We need to work out the process so that value chains and certification don't getimpactedastheyareyettodefineit," the official said, adding this will be important so that India's agricultural and food exports such as coffee do not getimpacted.

Countries need to certify that no primary forests have been diverted in products entering the EU, according to thelaw.

Iraq issues ban on U.S. Dollar transactions ahead of joining BRICS

TEHRAN: The Interior Ministry of Iraq issued a ban on U.S. dollar transactions across the country. Iraq is one among the 24 countries that have shown interest to join the BRICS alliance and accept the new currency for global trade. The Iraqi Government banned entities from initiating business transactions with the U.S. dollar early this week. Iraq aims to control the fluctuatingblackmarketexchangerate, that has been plaguing the country for longenough.

The development is also designed to strengthentheusageoftheIraqiDinarin thenations’Forexmarkets.Theministry aims to lower the difference between the official exchange rate offered by the governmentandtheexchangeratethat’s

thriving in the black markets. The move will reduce dependency on the U.S. dollar and bolster its native currencytheIraqiDinar.

“The dinar is the national currency in Iraq. Your commitment to transact in it instead of foreign currencies boosts the country’s sovereignty and economy,” the statement read. The Ministry also pointed out that failing to do so will lead to criminal offenses with punishable crimes. The law will “hold accountable anyone who attempts to undermine the Iraqi dinarandtheeconomy,”itread.

General Hussein Al Tamimi, who heads the operation directorate explained that offenders will be fined one million Iraqi Dinars. Moreover,

repeat offenders will attract harsher punishments including double the fine withayear’simprisonment.

“If the violator repeats it, he willface an imprisonment penalty of up to one year plus a one-million Iraqi dinar financialfine.Incaseofathirdviolation, that penalty will be doubled and we’ll have the business license turned,” Tamimisaid.

IraqislookingtojointheBRICSbloc in a move to end reliance on the U.S. dollar. The nation is ready to accept the new currency to settle cross-border transactions. The next BRICS summit will be held in Cape Town, South Africa in August 2023. Around 19 countries have both formally and informally requestedtojointhealliance.

APM Terminals Mumbai : Accelerating Terminal's ability to accommodate Larger vessels

MUMBAI: “We're investing in the future, while honouring the past. At APM Terminals Mumbai, the equipment we use is respected – even revered – by the people that commission it, use it and, when the time comes, say farewell to it,” informs a recent statement from APMTerminalsMumbai. Cont’d. Pg. 5

Höegh RoRo App

OSLO: Need the latest vessel schedule or want to co nt ac t a lo ca l Hö eg h Autoliners representative? Have you downloaded the official Höegh Autoliners app, Höegh RoRo? This tool allows quick and easy access to the company’s latest shipping information on your device, informs a recent communique from Höegh Autoliners.

Download app:

This free app - available in Google Play and the Apple App Store - allows customers, agents, employees and otheruserstoaccessthefollowinginformation:

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“Look for the latest up-to-date sailing schedules by portlocationortrade.

Cont’d. Pg. 6

NOTICE TO CONSIGNEES

ZIM INTEGRATED SHIPPING SERVICES

m.v. “CMA CGM FIGARO”

V-OFF8QE1MA

The above vessel is arriving at NHAVA SHEVA (NSFT) on 22/05/2023 with Import Cargo in containers.

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

ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.

Raheja Centre-Point, 3rd Floor, 294, C.S.T. Road, Near Mumbai University, Kalina, Santacruz (East), Mumbai - 400 098. Maharashtra, India. Tel : 91-22-4252 4301 Fax : 91-22-4252 4142

NOTICE TO CONSIGNEES

m.v.

The above vessel is arriving at NHAVA SHEVA (NSFT) on 22/05/2023 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 :

“CMA CGM FIGARO” V-OFF8QE1MA

APM Terminals Mumbai : Accelerating Terminal's ability to accommodate Larger vessels

Cont’d. from Pg. 3

“Our Mumbai terminal – also known as Gateway Terminals India (GTI) – is continuing its major Fit for Future project, which will see the terminal increase capacity by 10%, to 2.18 million TEUs (Twenty Foot Equivalent Unit). Massive infrastructure upgrades will mean the terminal – India's busiest – will have the reach to handle the largest vessels that call Nhava Sheva's Jawaharlal Nehru port with the arrival of 23-containeroutreachcranes.”

Safe to say

“But while we're focused on the future, ‘bringing our hearts and brains to the game’ means that our people care enough about their work to also acknowledge significant achievements – and attachments – formed in thepast.

“That's why, when five quay cranes at GTI were due for decommission, the workforce turned out in droves to say farewell to the infrastructure that has served the company,andourcustomerswell.

End of an era

Sunay Mukerjee, Chief Operating Officer, APM Terminals Mumbai, said the decommissioning was “an emotionalmomentforthefrontlinecolleaguesatGTI.”

InamessagetoAPMTerminalsglobalorganisationhe wrote:“Thismorning,Berth1atGTIclosedforoperations as we start the massive Fit for Future project.” Offline, he confessed that there were few dry eyes on the dock as theShip-to-ShoreCranes1-5performedtheirfinalmoves.

“In Indian tradition, equipment and tools are considered very sacred. Workers revere the machines which bring success and prosperity in professional life,” hesaid.

Saying goodbye to the cranes was akin to

“saying goodbye to a retiring colleague who has been with usthroughoutourjourneytoexcellence,”saidMukerjee. Safe to the core

“The transformation at APM Terminals Mumbai will accelerate the terminal's ability to accommodate larger vesselsandbringeconomiesofscale.

In addition, as Mukerjee points out, “We are making our terminal safer, better, and bigger. We can achieve this in large part because of the dedication of our people, who demonstrate an exemplary work culture to serve our customersandtokeepSafetyatthecoreofouroperations.” Remarkable achievement

“This safety culture is demonstrated by the 500, and counting, incident-free days chalked up at the terminal projectsite.

"This is a remarkable feat considering the nature of the work and dealing with the large equipment and machine at the site,” says Mukerjee. “This is the result of our work culture of taking ownership, following safety protocols & procedures, teamwork, and commitment undertheablesupportofthemanagement."

Theterminalnowembarksonthemostcriticalpartof its Fit for Future project with ongoing dismantling of existing infrastructure and the arrival of new cranes, In the transition periods, expected to take six months, APMMBerth1willremainclosedforvesseloperations. Completion, on schedule for early September, will see theterminalnotonlyincreasecapabilitytohandlebigger vessels, but also increase efficiency allowing us to turnaround our shipping line vessels faster, creating valueforendcustomers.”

APM Terminals Mumbai/Gateway Terminals India (GTI) is a joint venture with CONCOR (26%), APMTerminals(74%).

CBIC : Circular on Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders

NEW DELHI : The CBIC has issued Circular No. 11/2023Customs dated May 17, 2023 regarding the amnesty scheme for one time settlement of default in export obligation by Advance and Export Promotion Capital Goods (“EPCG”) authorization holders vide Notification No.32/2023-Customs datedApril26,2023.

The Ministry has issued Notification No.32/2023-Customs dated April 26, 2023 to amend 13 Customs notifications pertaining to Advance Authorization (AA) and Export Promotion Capital Goods (EPCG) Schemes. This is to implement the Public Notice No. 02 dated April 01, 2023 notified by DGFT that has provided a procedure, under category of regularization of bona fide defaults, in which all pendingcasesofthedefaultinmeetingexportobligation(EO) may be regularized by the authorization holder on payment of applicableCustomsduty,correspondingtotheshortfallinEO. Interest payable is capped at maximum of 100% of such duties exempted on which interest is payable as specified in the said Public Notice dated April 01, 2023. However, no interest is payableontheportionofAdditionalCustomsDutyandSpecial Additional Customs Duty. The authorization holder choosing to avail this procedure must complete the process of payment onorbeforeSeptember30,2023.

The amendments made by the Notification No.32/2023Customs provide that in a case of default in export obligation, when the duty on the goods is paid to regularize the default in termofPublicNoticeNo.02/2023datedApril01,2023notifiedby DGFT,theamountofinteresttobepaidbytheimportershall be

payable as specified in the said Public Notice dated April 01, 2023. No other change is involved.

It may be noted that the cases under any investigation or adjudicated for involving fraud, mis-declaration or un-authorised diversion of material and/or capital goods are not covered in the scheme. Authorization holder shall not claimCENVATCreditorRefund,underanyprovisionoflaw,of any amount on duties paid under this scheme. However, there may be cases of calculation mistakes which are to be dealt on merits. Also, the DGFT PN No. 02/2023 dated April 01, 2023 specifies the necessary procedures which would be required tobefollowed.

The Principal Commissioners / Commissioners are to ensurethattheexportersapproachingforpayingtheduty,etc. are registered with the DGFT in terms of the Public Notice dated April 02, 2023 ibid. These cases under the scheme be monitored and tracked so that there is efficient handling and expeditious closure of these old cases of bona fide EO default in a seamless manner. Suitable mechanism for this should be put in place and closely supervised by the Principal Commissioners/Commissioners.

ThisCircularmaybebroughttothenoticeofallconcerned by way of issuance of standing order/instruction/ trade notice. Difficultiesfaced,ifany,maypleaseimmediatelybebroughtto thenoticeoftheBoard.

The Circular can be accessed at: https://taxinformation.cbic.gov.in/ view-pdf/1003158/ENG/Circulars.

Cont’d. from Pg. 3 Trades

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Asyad Group and The Environment Society of Oman launch Insightful Lecture Series on Climate Change

MUSCAT: Asyad Group and the Environment Society of Oman(ESO)havejoinedforcesto launch an insightful series of lectures that shed light on the challenges facing Oman in its fight to tackle climate change. The lectures and technical seminars are planned to take place from late May2023toearlyJanuary2024.

The global integrated logistics provider partnered with ESO to implement this joint undertaking in line with Asyad’s sustainability strategy and commitment to strengthen cooperation on environment and climate issues between business and civil society organizations acrossOman.

This dedicated series of lectures and workshops will leverage the combined resources and expertise of Asyad and ESO to highlight the urgency of adapting to environmental challenges and the need for impactful transformative action. Local and international experts will join representatives from both organizations to explain how individual, organizational and national action is needed today, more than ever, to achieve the Sultanate’s climate change goals, starting from its nationalobjectiveofnetzeroby2050.

Explaining the value of the joint initiative, Essam Al Sheibany, VP Sustainability at Asyad Group, said: “As a national and global corporate citizen, we are proud to take part in this initiative as one of our many impactful environmental and sustainability programs. Through this awareness-raising series, our group is following throughonitsunwaveringcommitmenttosupportOman in its endeavor to achieve net-zero by 2050 and play our global part in helping realize the UN Sustainable Development Goals related to climate change and sustainability.”

“Raising awareness amongst the general public and professionals on climate issues and inspiring collective

action is instrumental to complement our large-scale initiatives and plans to create a more sustainable logistics sector with a lower carbon footprint,” Al Sheibany added. “Asyad Group is keen on protecting the environment and building a brighter tomorrow, that is why we have undertaken numerous emission-reduction and solar-energy initiatives at our ports and geared up to support Oman’s nascent hydrogen sector, all under our unified strategy to join the world’s fight against climate change.”

Rumaitha Al Busaidi, Middle East Climate Strategist and Executive Board Director at ESO, said: “The Environment Society of Oman has embraced the momentum of a growing and deeper public acknowledgment that we are facing an urgent planetary crisis. We want to encourage more people and entities to joinusintryingtosuccessfullyaverttheworstimpactsof climate change and support the accelerated efforts towards our goals of biodiversity protection and a netzero emissions economy by 2050. It may be a challenge, but it is definitely one worth rising to because it is only through empowerment and collective action that we can secure a better future for our generation and many generationstocome.”

The anticipated ESO-Asyad series will consist of four lectures open to the public, three discussion clinics targeted to specific audience groups, and one white papertohelpprepareforOman’sparticipationinthe28th session of the Conference of Parties (COP28) the annual Climate Change Conference organized by the United Nations.

As a global player in logistics, Asyad Group continues to push forward with its sustainability strategies to create a low-emission logistics ecosystem, mitigate the impact of climate change in Oman and beyond, and transform the Sultanate into a sustainable global logisticshub.

TO

FOR EXPORT LOADING

SCANDINAVIAN, RED SEA & MED. PORTS from NSICT

SCI

Rotterdam,Antwerp,Dunkirk, Felixstowe, Le Havre COSCO COSCO Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Indial Indial Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports.

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.

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

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

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

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

Shpg. Jebel Ali, Sohar.

Feeders Sea Consortium Jebel Ali, Bandar Abbas.

LMR Logistic Ser. Jebel Ali, Bandar Abbas.

QNL/Milaha Poseidon Shpg. Jebel Ali, Bandar Abbas. Speedy CFS

Cordelia Cordelia Cont. Jebel Ali, Sharjah, Abu Dhabi, Ajman, Dammam,Jubail, Hamad, Baharin, Shuaiba, Shuwaikh, Sohar, Umm Qasr

Alligator Shpg. Aiyer Shpg. Jebel Ali.

BSS Bhavani Shpg. Jebel Ali, Doha, Kuwait, Bahrain, Bandar Abbas. Ashte CFS Seahorse Ship Gulf Ports. LMT Orchid Gulf

&

TO LOAD FOR WEST ASIA GULF PORTS From NSIGT

TO LOAD FOR WEST ASIA GULF PORTS From BMCT

COASTAL SERVICE MOVEMENT

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

19/0620/06 TBATBA TS Kelang 23003E

03/0704/07 TBATBA Ever Ethic 161E

CISC Service

24/0525/05 TBATBA Wadi Bani Khalid 2307E

KMTC KMTC (I)

TS Lines TS Lines (I)

P.Kelang, Singapore, Xiangang, Qingdao, Shanghai, Ningbo, Da Chan Bay. ULA CFS

P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-3

P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-2

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

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

BSS Bhavani Shpg. Port Kelang, Singapore, Jakarta, Yangoon, Surabaya, Belawan, Ashte CFS

Line Seabridge Singapore, Port Kelang, Jakarta, Surabaya, Belawan.(IEX)

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

PORTS from GTI

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

Hyundai Integral 0130E P0203 271359-28/04 HMM HMM Shpg. Port Kelang, Singapore, Laem Chabang, Caimep, Kaohsiung, Seabird CFS

04/0605/06 TBATBA Hyundai Brave 0105E

11/0612/06 TBATBA Hyundai Tokyo 0144E

18/0619/06 TBATBA Hyundai Colombo 0132E

01/0602/06

15/0616/06

TBATBA Wan Hai 311 E223 P0325 272499-15/05

TBATBA Wan Hai 307 E425

22/0623/06 TBATBA Jeju Island E020

Maersk Line Maersk India Pusan, Indonesia, Thailand, Vietnam & Other Indland Destination. Maersk CFS

TS Lines TS Lines (I) Singapore, Pusan, Shanghai, Ningbo, Shekou & South East Asia Dronagiri-2

Far East & China Ports. China India Express Service (CIX/ICX)

Gold Star Star Ship Singapore, Kwangyang, Pusan, Shanghai, Ningbo Ocean Gate

Sinokor Sinokor India Port Kelang, Singapore, Hong Kong, Kwangyang, Seabird CFS

Busan, Shanghai, Ningbo & Other Inland Destination.

Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS

COSCO COSCO Shpg. Ningbo, Shekou.

InterasiaInterasia (CI2)

HMM HMM Shpg. Port Kelang, Singapore, Hongkong, Kwangyang, Pusan, Shanghai, Ningbo Seabird CFS

CU Lines Seahorse Ship Port Kelang(N), Hongkong, Qingdao, Shanghai.

FOR EAST, WEST & SOUTH AFRICAN PORTS from NSFT

LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSICT

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

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

LIMITED

Drewry: Dry Bulkers’ earnings potential improved over the past 4 months

LONDON: The Drewry Dry Bulk Equity Index decreased 7.6% YTD, underperforming the S&P 500 which rose 8.1% YTD. The decline can be attributed to macroeconomic weakness caused by rising interest rates, an inflationary environment and contraction in China’s manufacturing sector in April, indicated by a PMI number lower than 50. Additionally, the earnings reported by dry bulk companies so far for 1Q23 are lower than in the previous quarter which is also affecting the performance of dry bulkstocks.

• In April, the Drewry Dry Bulk Equity Index fell 6.9% and underperformed the S&P 500 which rose 1.5% during the same period. Stock pricesdeclinedbecauseofanincreasein interest rates and rising inflation. Pacific Basin’ssharepricefell7.6%,followedbya fall of 5.6% in DS Norden’s stock price. Golden Ocean’s stock fell 3.9% and Star BulkCarrier’sremainedmutedwhereas

DianaShipping’srose1.5%.

• In May (as of May 15), the Drewry Dry Bulk Equity Index fell 10.6% and underperformed the S&P 500 which declined 0.8% during the same period. DS Norden’s stock reduced 17.0% in May – the largest decline, as the company stated that its earnings will be significantly lower in FY23 than in 2022 due to the volatile tanker market and weakdrybulkmarket.

• The stock price of Star Bulk Carriers declined 13.2% in May, followed by Diana Shipping’s and Golden Ocean’s which fell 7.1% and 6.7%, respectively. Pacific Basin’s share price declined 4.6% as the company has substantial forward coverageathealthyrates.

In addition, Time Charter Equivalent (TCE) rates have also been on the rise after contracting in January and February. However, we expect TCE rates to fall in 2023 YoY due to uncertainty over China’s economic recovery and a decline in demand from the US and Europe because of rising fears of a recession and interest rate

hikes. We expect the annual 1-year TCE rate for Capesize vessels to slide 3.4% YoY, but for other vessels, the fall is expected to be steeper; we estimate a drop of 11.4%, 12.9% and 12.1% YoY for Panamax, Supramax and Handysize vessels,respectively.

• Earnings potential of dry bulk vessels improved over the past four monthswhichledtoanincreaseinasset prices in March and April. Specifically, second-hand prices of five-year-old Capesize and Panamax vessels have increased by 9.5% and 7.5%, respectively, during this period. We expect asset prices to recover from the lows of December 2022 as China’s pentup demand stabilises asset prices of dry bulkvessels.

• High vulnerability in the global economy can affect the dry bulk market as the global economy stands at a crucialvantagepointwithrisingfearsof a slowdown. At present, all eyes are on China’s pent-up demand which is perhaps the only hope for reviving the weakdrybulkshippingmarket.

35 % added pressure on US port capacity, says Sea-Intelligence

COPENHAGEN: In the prepandemic period in 2018-2019, the median time spent in port – based on data from United Nations Conference on Trade and Development (UNCTAD) – was relatively stable around 16.5-17 hours. This then increased to 20 hours at its peak during the pandemic in the secondhalfof2021andfirsthalfof2022.

The pandemic disruptions and the increase in volumes, contributed to this rise in the time spent in port. Using a handlingindex(basicallycomparingthe median time spent in port with the number of containers being shipped, with index 100 defined as 2018-1H), what we see is that when taking the global volume into account, the average time spent to load and unload an individual shipped container did increase significantlyduringthepandemic.

TIRUPPUR/NOIDA:Duetoalackof international orders, clothing exporters in Tiruppur and Noida have opted to close their manufacturing facilities for 10 to 15 days per month to decrease operatingcosts.

Post the recovery witnessed in textile exports in March 2023, April saw exports declining sequentially.

According to data from ICICI Securities Ltd., a subsidiary of ICICI Bank Ltd., RMGexportsdeclined17percentQ-o-Q (down 23 per cent Y-o-Y) to US $ 1.2 billion, whereas exports for cotton yarn and home textile declined 13 per cent Qo-Q (down 23 per cent Y-o-Y) with monthly run rate slipping again below theUS$1billionmark(US$0.8billion).

When we correlate this to our measure of capacity absorption i.e., the de facto vessel fleet that is not available to the market due to vessel delays, we see that there is a tight correlation betweenthetwo,andassuch,thesupply chain bottlenecks impacting the container fleet in reality also impacted

In Tirupur, orders are down 40–50 per cent from last year, whereas 80 per cent of units in Noida have a month’s worth of orders in hand. Global brands havenotmadeanysignificantordersfor thenextChristmasseason,accordingto Tirupur’sexporters.

“We are now waiting for springsummer orders for next year which are placed in September,” said Raja Shanmugam, owner of knitwear firm WarsawInternational.

More than half of India’s knitwear exports come from the Tirupur cluster, Asia’s largest textile export centre, and have been impacted by the downturn in important markets including the US and the EU. The Tirupur cluster has

the terminals in the same way. This correlation between the two measures isshowninFigure1.

With the median time spent in port as a base, we can augment it with our measure of capacity absorption to calculate the berth capacity absorption i.e., additional amount of berth capacity removed from the market due to longer port stays. We then tie that in with import and export volume data for North America and arrive at a berth congestionindexforUS.

US ports suffered from a much larger effect than the global average, which means that effective US terminal capacity available to handle vessels was severely impacted during the pandemic, touching 35% at its peak, which, interestingly, was reached in 2022-2H.

30,000 units total, including ancillary ones as well. According to preliminary data, Tirupur’s knitwear exports rose 2.5 per cent annually to Rs. 34,350 crore in 2022–2023. With the exception of the pandemic, the growth rate was not only less than the historical tendency but also less than the nation’s overall knitwear exportincreaseof3.76percent.

In the Noida apparel export cluster, nearly 70 per cent units have just a month’s orders in hand. “Only the big units have good orders in hand but the medium and smaller units are suffering from very few orders. These units are working at 30-40 per cent capacity,” said Lalit Thukral, President of Noida ApparelExportCluster.

Tiruppur and Noida apparel exporters are in plan for periodic shutdowns

VESSELS DUE AT MUMBAI FOR EXPORT LOADING

NOTICE TO CONSIGNEES

m.v “X-PRESS ANGLESEY” V-23003E I.G.M. No. 2344019 Dtd. 17-05-2023

The above vessel is arriving at NHAVA SHEVA (BMCT) on 20-05-2023 with import cargoes from ports CHIBA, CHONGQING (PORT), DAMAIYU, HUANGPU (IN GUANGZHOU), IWAKUNI, KOBE, KWANGYANG, NAGOYA, NANJING, NIIGATA, NINGBO, ONAHAMA, OSAKA, PORT KLANG NORTHPORT, SHANGHAI, SHEKOU, SINGAPORE, TOKYO, TOYOHASHI, YATSUSHIRO also transshipment cargo of following Ex. Mother vessels:

Nos. are as mentioned below :

Consignees are requested to present Original Bills of Lading duly discharged and obtain Delivery Order on payment of all charges as applicable. Detention charges where applicable will be charged as per tariff.

Our Surveyors are M/s. Pinnacle Marine Surveyors Pvt Ltd. Usual Survey conditions shall apply

Consignees are also requested to note that the carriers and/or their Agents are not bound to send individual notifications regarding arrival of the vessel or the goods.

Note : For IGM & ITEM nos. Vessel arrival inquiry, destination charges tariff please visit our site : www.ekmtc.com For KOREA MARINE TRANSPORT CO. LTD.

As Agents :

One International Center, Tower 3, 22nd Floor, 2202, Senapati Bapat Marg, Prabhadevi (West), Mumbai - 400 013, Maharashtra, India. E-mail : mumid@ekmtc.com

m.v

“KMTC COLOMBO”

2303 I.G.M. No. 2344026 Dtd. 17.05.2023

The above vessel is arriving at NHAVA SHEVA (BMCT) on 20-05-2023 with import cargoes from ports AKITA, BUSAN NEW PORT, DALIAN, GAOLAN (IN ZHUHAI), HAIPHONG, HAKATA, HOCHIMINH, HONG KONG, INCHEON, ISHIKARI, JAKARTA, JIANGMEN (GAOSHA TMNL, KANAZAWA, KOBE, KWANGYANG, LAEM CHABANG, MIZUSHIMA, MOJI, NAGOYA, NIIGATA, NINGBO, OITA, ONAHAMA, OSAKA, PORT KLANG WESTPORT, QINGDAO, SHEKOU, SINGAPORE, TOKYO, TOMAKOMAI, TOYAMASHINKO, ULSAN, XIAMEN, XINGANG, YOKOHAMA also transshipment cargo of following Ex. Mother vessels:

Item No. and Bills of lading Nos. are as mentioned below :

m.v “KMTC COLOMBO”

2303 I.G.M. No. 2344026 Dtd. 17.05.2023

The above vessel is arriving at NHAVA SHEVA (BMCT) on 20-05-2023 with import cargoes from ports AKITA, BUSAN NEW PORT, DALIAN, GAOLAN (IN ZHUHAI), HAIPHONG, HAKATA, HOCHIMINH, HONG KONG, INCHEON, ISHIKARI, JAKARTA, JIANGMEN (GAOSHA TMNL, KANAZAWA, KOBE, KWANGYANG, LAEM CHABANG, MIZUSHIMA, MOJI, NAGOYA, NIIGATA, NINGBO, OITA, ONAHAMA, OSAKA, PORT KLANG WESTPORT, QINGDAO, SHEKOU, SINGAPORE, TOKYO, TOMAKOMAI, TOYAMASHINKO, ULSAN, XIAMEN, XINGANG, YOKOHAMA

Consignees are requested to present Original Bills of Lading duly discharged and obtain Delivery Order on payment of all charges as applicable. Detention charges where applicable will be charged as per tariff.

Our Surveyors are M/s. Pinnacle Marine Surveyors Pvt Ltd. Usual Survey conditions shall apply

Consignees are also requested to note that the carriers and/or their Agents are not bound to send individual notifications regarding arrival of the vessel or the goods.

Note : For IGM & ITEM nos. Vessel arrival inquiry, destination charges tariff please visit our site : www.ekmtc.com

For KOREA MARINE TRANSPORT CO. LTD.

As Agents :

M/S. KMTC (INDIA) PVT LTD

One International Center, Tower 3, 22nd Floor, 2202, Senapati Bapat Marg, Prabhadevi (West), Mumbai - 400 013, Maharashtra, India. E-mail : mumid@ekmtc.com

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

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 19/05/2023

VESSELS IN PORT & DUE FOR EXPORT LOADING

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

SHIPS NOT READY FOR BERTH

KANDLA INTERNATIONAL CONTAINER TERMINAL (KICT)

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER TERMINAL (AICT)

CONTAINER VESSELS DUE / IN PORT FOR

ADANI CMA MUNDRA CONTAINER TERMINAL PVT LTD (ACMTPL), MUNDRA

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

(BEDI) PORT

(As on 18-05-2023)

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSFT

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

NSICT

Car.CB-5 Hunsa Bhum

NSIGT

GTI

BMCT

ACMTPL

CMA CGM Ivanhoe (V-3118) 15-05-2023 ACMTPL

MSC Federica (V-JD318R) 16-05-2023 Jebel Ali

AS Emma (V-IA318A) 16-05-2023 Hazira

MSC Judith (V-IV319A) 17-05-2023 Colombo

MSC Silvia (V-IU319A ) 18-05-2023 AICT

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 Wan Hai 502 (V-E112) 18-05-2023 Port Kelang

G. Harmony (V-7INDSTP)

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)

MSC Eva (V-IW319A)

MSC Francesca (V-FV320R)

Colombo

CT/COASTAL/ CT/COASTAL/LIQUID BERTH LIQUID

W. E. F. 05-05-2023

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

Avashya Foundation organizes 5th Annual Mango Festival to promote sustainable farming and environment conservation

MUMBAI: The Avashya Foundation, CSR arm of Allcargo Group, is hosting its annual Mango Festival as part of its Maitree initiative, which works for farmers’ sustainable livelihood and environment conservation. The festival is organized on 18th and 19th May 2023 at Allcargo headquarters in Mumbai. This marks Allcargo’s fifth year of celebration of exquisite flavour, enticing fragrance, and delectable taste of the king of fruits. The annual Mango Festival has been instrumental in promoting sustainable growth and development in the tribal regions of Maharashtra.

Maitree, working to replenish the green cover of our planet, has so far facilitated the planting of over 850,000 fruit-bearing saplings, and aims to plant 1 million saplings by the end of this year. Maitree empowers local farmers by providing them with seedlings of mango, guava, cashew, lemon, and teak. The planting drive has led to significant improvement inproductivityandlivingstandardsofthefarmers.

Dr Nilratan Shende, CSR Head at Allcargo Group, said, "Through Maitree, we have been able to touch the lives of over 90,000 people, providing them with not just sustainable livelihoods but also a sense of empowerment and self-reliance Seeing our farmers prosper and the

environment flourish -- that's the true success of Maitree. And the Mango Festival is a celebration of this spirit of growthandresilience."

For many of the farmers, Maitree provided them a platform for empowerment and to build resilience. Unable to sustain farming due to various factors including climate change, high cost of seed and fertiliser, lack of scientific knowledge, inflation, reduced income on their produce, they faced loss of livelihood and were forced to migrate urban areas to make ends meet. With Maitree, they are now aware of seasonal variations, climate change risks, soil and water conservation. As a part of the initiative, farmers are also being educated on setting up nurseries, and cultivating high-qualitycrops.

The Mango Festival is a testament to the initiative’s success, celebrating the bountiful produce of their sustainable farming. It provides a platform for over 18,000 farmers to showcase and sell their produce, encouragingathrivingfarmingcommunity