MUM-22-02-2023

Empty Containers pile up at Global Ports as trade slows

SHANGHAI : Empty containers are piling up at major ports around the world as slowing economies weigh on shipping demand.

In the week of Feb. 5, the CAx (Container Availability Index) rose to 0.64, according to container monitoring platform Container xChange. It was the 11th consecutive week the index was above 0.6. CAx values above 0.5 mean that more containers enteredaportthanleftit.

The CAx compares the number of full containers that were importedwiththenumberexported.ACAxvalueof0.5meansthat the same number of containers leave and enter a port in the same week.

The docks in Shanghai port are filled with empty containers, and many must be moved to nearby Taicang port, a dock operator at Shanghai was quoted as saying recently. “We haven’t seen suchasceneforyears,” hesaid.

During COVID-related lockdowns early last year, containers piled up on the docks and caused months of backlog in Shanghai,theworld’sbiggest containerport.

In recent months at export hubs including Shanghai and Qingdao, the CAx readings for 40-foot containers have held in the range of 0.6 to 0.7, while the indexes at the major import hubs of Antwerp in Belgium and Los Angeles in North America have been above 0.8, said Xu Kai, chief information officer of the Shanghai InternationalShippingInstitute.

Since the fourth quarter of 2022, the return flow of empty containers has been generally higher than the export volume of filled containers, leading to widespread pressure on empty container stockpiles at China’s major ports, a large freight forwardertoldtheaChinesemedia.

Idle containers globally account for about 6% of total capacity, and some idle ships are also filled with empty containers, the freightforwardersaid.

A.P. Moller-Maersk A/S, which handles about one-sixth of the world’s containers, said last week that 2023 demand in the container shipping industry is set to fall as much as 2.5% but may rise0.5%.

The Copenhagen-based container giant said the company turned some idle medium-size container vessels into floating empty container platforms, which can be used to store empty containers to reduce costs and facilitate the transfer of empty containersbetweenports.

An oversupply of containers also contributed to the pileup of empty containers at ports. In 2021, ocean carriers ordered a record number of containers while retiring fewer aging units. The global stock of shipping containers increased by 13% to almost 50 million twenty-foot equivalent units (TEUs) in 2021. That was three times the previous growth trend, according to maritime researchconsultancyDrewry.

Drewry estimated that as many as 6 million TEUs of surplus containersnowexistintheglobalequipmentpool.

Shipping consultancy Clarkson projected that container shipping volume will total 201 million TEUs in 2023, down 3.1% fromlastyear.

As shipping demand slows, freight prices have also declined. Since the second half of 2022, the Shanghai Export Container Freight Index, which reflects spot market rates, fell by about 80%. On Friday, the spot shipping rate for a 20-foot container from Shanghai to Europe fell to $925, down 88% from the 2022 high, while the rate for a 40-foot container from Shanghai to the U.S. West Coast fell to $1,293, down 84% from the 2022 high, data from ShanghaiShippingExchangeshowed.

Generally, the container shipping market gradually rebounds 45daysafterLunarNewYear,whichfellinlateJanuarythisyear,a senior freight forwarder told. But this year the recovery may take atleast60days,hesaid.

India evaluating US’ green subsidy package to seek level playing field for its exports

NEW DELHI - India is evaluating the US’ green subsidy package—which offers over $400 billion worth of tax incentives, grants, and loan incentives to domestic manufacturers of green technology products—and examining possible arrangements that could be entered into with Washington to make Indian exports of similar items cheaper and create a level playing field, according to officials. The green subsidies, being provided under the US Inflation Reduction Act (IRA) signed in August 2022, are expected to benefit local manufacturers in a range of sectors, including clean electricity and transmission, and clean transportation,suchaselectricvehicles(Evs).

“The Government has convened a study to look at the sectors that stand to benefit in the US under IRA and short-list products where India could seek favourable treatment. Industry bodies are also being consulted by the Commerce Department for their commentsandsuggestions,”anofficialtrackingthemattersaid.

While India has to argue against the favourable treatment for domestic producers under the IRA on the basis of WTO principles , as some subsidies are dependent on the use of domestic goods and domestic production, bilaterally too it needs to be seen if a

compromisecanbeworkedout,theofficialsaid.

Bilateraldiscussions

“IftheUS’objectiveistocontrolinflationanditistryingtogive subsidies to make certain domestically manufactured items cheaper, then the same logic should apply for imports. Inflation reduction should go both ways. How that can be done needs to be worked out. We have already started some discussions bilaterally, but we will firm up our arguments and negotiate once the implications of the IRA are more clear in terms of product coverage,” the official said. The EU was one of the first WTO members to raise concerns about the IRA and its impact on competitors from the EU in the subsidised sectors, including automotives.ItisalsoinbilateraltalkswiththeUSonthematter.

Last month, the EU announced its intention to put forward a newNet-ZeroIndustryAct,whichsomeexpertssayisinresponse to the IRA. “The aim will be to focus investment on strategic projects along the entire supply chain. We will especially look at how to simplify and fast-track permitting for new clean tech production sites,” according to European Commission President, UrsulavonderLeyen.

JNPA

welcomes

MoPSW

Secretary Sudhansh Pant on his maiden visit

NAVI MUMBAI : The Jawaharlal Nehru Port Authority (JNPA), the Premier Container handling port, accounting for around 50% of the total Containerized cargo volume recently welcomed Shri Sudhansh Pant, IAS, Secretary, Ministry of Ports, ShippingandWaterways, onhismaidenvisittoPortforareviewmeeting. He was welcomed by Shri. Sanjay Sethi, IAS, Chairman, JNPA in the presence of Shri Unmesh Sharad Wagh, IRS, Dy. Chairman, JNPA, andotherofficials.

Sanjam Sahi Gupta of Sitara Shipping named Top 100 Women in Shipping by All About Shipping for 2022

MUMBAI : All About Shipping UK in their annual list of top 100 women in shipping, was pleased to announce that 100womenoutof1,350from almost all sectors of the entireShippingspectrum, On number 43 is India’s Sanjam Sahi Gupta, Director of Sitara Shipping Ltd. She is also the founder of Maritime SheEO and an advocate for diversity.

Merchandise exporters have to pay 18% GST on shipping costs : GST Council

NEW DELHI : Merchandise exporters will have to pay 18% goods and services tax, or GST, on the services of transportation of goods, a move that the industrysayscouldleadtocashflowissues atatimewhenexportsaredeclining.

This follows a recommendation of the GST Council that the place of supply of transportation of goods must be determined on the location of the service receiver, rather than on the basis of destinationofgoods.

Government officials said the move aimstoprovidetaxparity

Require JUNIOR EXECUTIVE for Customer Service Team at our Ahmedabad Office Candidate must be graduate, having minimum 1 year related experience in Shipping Industry (Fresher can also apply), English conversant & Computer literate can drop cv to : suphrs@evergreen-shipping.co.in

TRANSHIPMENT AT COLOMBO TRANSHIPMENT AT PORT KLANG WEST

JNPA welcomes MoPSW Secretary Sudhansh Pant on his maiden visit

Cont’d from Pg. 3

Currently JNPA operates five Container Terminals: The Jawaharlal NehruPortContainerTerminal(JNPCT),theNhavaSheva InternationalContainerTerminal(NSICT),theGateway Terminals India Pvt. Ltd. (GTIPL), Nhava Sheva

International Gateway Terminal (NSIGT) and the newly commissioned Bharat Mumbai Container Terminals PrivateLimited(BMCTPL).ThePortalsohasaShallow WaterBerthforgeneralcargoandanotherLiquidCargo Terminal which is managed by BPCL-IOCL consortium andnewlyconstructedcoastalberth.

Sanjam Sahi Gupta of Sitara Shipping named Top 100 Women in Shipping by All About Shipping for 2022

Cont’d from Pg. 3

The media house further stated that "Despite the despicable situation we continue to live in as we are in a double recession, despite another anus horribilis given the hidden Coronavirus anathema and its despicable mutations - valiant

and admirable women were once again out there performing service tohumankindand…outperforming.

A real challenge once again for those working mostly from home tackling business, simultaneously caring and looking after children –some very young – and supporting

othersintheirfamilieswhetherfrom onboardorashore…

Onceagainweverymuchbelieve that we can improve a lot of things in possibly the most demanding industry of all, that of Shipping, by pulling together and making diversityaMUST.”

2M Alliance announces rotation changes in Transpacific services

GENEVA : The largest container shipping alliance, the 2M alliance (MaerskandMSC),hasdecidedtoproceedwith severalchangesintwoTranspacificservices.

Firstly, the TP10/Amberjack service will run on the following rotation, effective from May, linking south and central China and South Korea to the east coast of the UnitedStates:

Qingdao (China) – Ningbo (China) – Shanghai (China) – Busan (South Korea) – Panama Canal (Panama)–Kingston(US)–Charleston(US)–Savannah (US) – Norfolk (US) – Kingston (US) – Panama Canal (Panama)–Busan(NorthKorea)–Qingdao(China)

Calls at Jacksonville and Wilmington will be removed and switched to the updated TP16/Emerald service, which will begin on 6 May with the 8,238 TEU vessel MountEverest.

Likewise beginning in May, the TP16/Emerald service will follow a new rotation, dropping Norfolk but adding Jacksonville and Wilmington to compensate for the removal of these ports on the TP10/Amberjack service:

Xiamen (China) – Yantian (China) – Shanghai (China) – Busan (China) – Panama Canal (Panama) –Cristobal (Panama) – Savannah (US) – Jacksonville (US) – Wilmington (US) – New York (US) – Suez Canal (Egypt)–Singapore(Malaysia)–Xiamen(China).

CMA CGM Boxship receives “Windshield” for improved Aerodynamics

MARSEILLE:CMACGMconfirmed, that one of its ships, the “CMA CGM MARCO POLO,” has been fitted with a “windshield”. The change is expected to improvetheship’saerodynamicsandfuelefficiency.

The newly added “windshield” is a curved metal surfaceattachedtotheship’sbow.CMACGMstatedthat it took approximately six months to develop and install the new “windshield” on the “CMA CGM MARCO POLO.” The company also stated that if the test results are positive, the same feature will be applied to all other CMACGMvessels.

More and more carriers are testing out large windshields placed at the bow of their ships in hopes of improvingtheircarbonfootprint,suchasOceanNetwork

Express (ONE), which added them to their ships, the “ONE Trust” and the “ONE Tradition.”

The Japanese liner, Mitsui OSK Lines (MOL), was the first to develop these windshields for use on ships. MOL installed its first windshield on the MOL MARVEL in 2015 and reported a 2% reduction in fuel expenditure.MOLreportedin2017thatithadcompleted a two-year test of an improved version of this windshield andexpectedtosaveasmuchas4%onfuelexpenditure.

OFFICE OF THE COMMISSIONER OF CUSTOMS, (NS-III)

CONTAINER SCANNING DIVISION, CONTAINER SCANNING DIVISION, CONTAINER SCANNING DIVISION, CONTAINER SCANNING DIVISION, SCANNING

JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA.

JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA.

JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA.

JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA.

JAWAHARLAL NEHRU CUSTOM

TAL-URAN, DIST - RAIGAD, MAHARAHTRA - 400707.

F. No.S/V-30/Misc-40/2017-18/CSD/JNCH

PUBLIC NOTICE NO. 18/2023

Dated : 20-02-2023

Sub. :Operationalization of Drive Through Container Scanner Road) at BMCT (Scan code D-INNSA1RSDT02); Procedure to be followed for scanning of containers selected for scanning-reg.

Attention of the Importers, Exporters, General Trade, Port Terminal operator, Shipping Lines / Shipping Agents, CFSs coming under the jurisdiction of JNCH, Nhava Sheva and all other stakeholders is invited to the Public Notice No. 08/2023 dated 31.01.2023 wherein procedure required to be followed for scanning of containers selected for scanning at "Drive Through Scanner "at BMCT (for both DPD importers and non-DPD Importers), JNCH was stipulated.

2. Vide the said Public Notice i.e. 08/2023 dated 09.02.2023, it was stipulated that Drive Through Container Scanner (Road) at BMCT shall be operational during day time only between 8.00 am to 8.00 pm. In partial modification to working hours of DTCS at BMCT, it is envisaged that;

a. Drive Through Container Scanner (Road) at BMCT shall be operational during 24x7 with effect from 22nd February, 2023.

b. In case of PMI (Preventive Maintenance Inspection) or any breakdown, all the containers selected for scanning at DTCS at BMCT will invariably be diverted to MXCS at JNPT/NSICT/APMT or DTCS near PUB as per convenience of trade without any endorsement from Customs.

3. No other modification regarding procedure and other content as stipulated vide Public Notice No. 08/2023 is being envisaged vide this public notice. In case of any difficulty faced in implementing this Public Notice, the specific issue may be brought to the notice of Deputy/Assistant Commissioner in charge of CSD Cell, NS-III (email address: csd.jnch@gov.in)

4. Action to be taken in terms of decisions taken in this Public Notice should be considered as standing order for the purpose of officers and staff.

D.S. GARBYAL Commissioner of Customs, NS III, JNCH

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

Le Havre, Rotterdam, Dunkirk,

CMA CGM Ag. Southampton, Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre, Dron-3 & Mul Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos. SCI/Hapag CMT/ISS Shpg. Southampton, Rotterdam,Antwerp,Dunkirk, Felixstowe, Le Havre —/ULA CFS

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,

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., North Continent, Red Sea & Med. Ports.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports.

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

Team

SCANDINAVIAN, RED SEA & MED. PORTS from BMCT

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 GTI

TO

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

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

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

Group Transworld Shpg. Jebel Ali, Bandar Abbas. (IMX) Emirates Emirates Shpg. Jebel Ali, Sohar.

X-Press Feeders Sea Consortium Jebel Ali, Bandar Abbas.

LMR Logistic Ser. Jebel Ali, Bandar Abbas.

QNL/Milaha PoseidonShpg. 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 Ports.

Bay Line Freight Conn. Port Sudan & Al Sokhna

ICC Line Neptune UAE & Upper Gulf Ports.

Ceekay

LOAD FOR WEST ASIA GULF PORTS From BMCT

TO LOAD FOR INDIAN SUB CONTINENT from GTI

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

TO LOAD FOR

PORTS from NSICT

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

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

TO LOAD FOR AUSTRALIA & NEW ZEALAND PORTS from GTI

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

TO 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 BMCT

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

VESSELS DUE AT MUMBAI FOR EXPORT LOADING

No No & Dt Point

NOTICE TO CONSIGNEES

m.v. “MSC AZOV” V- IV307A I.G.M. No. 2335911 Dt. 20-02-2023 Exch. Rate 85.1

The above vessel is arriving on 22-02-2023 at NHAVA SHEVA (NSIGT) with import cargo to NHAVA SHEVA from JEBEL ALI, FELIXSTOWE, MOMBASA, HAMAD, AD DAMMAM, JUBAIL, BALTIMORE, NEW YORK, NORFOLK, SAVANNAH, COEGA. 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 Agents :

+91-22-66378192, E-mail : IND-info@msc.com; Website : www.msc.com

NHAVA SHEVA

Merchandise exporters have to pay 18% GST on shipping costs : GST Council

Cont’d from Pg. 3 .....between foreign and Indian shipping lines with regard to integrated GST on transportation of goodsbyvesselsfromIndiatooutside Indiaandvice-versa.

Currently, the export freight rate charged by Indian shipping lines to Indian exporters is taxable while freight charged by foreign shipping linestoIndianexportersfortransport of goods to a place outside India is not taxable as it is neither an inter-state noranintra-statesupply.

Experts said while the GST paid would be available as a credit to most

of the exporters as they can claim a refund, this may impact their cash flow.

India’s exports contracted in January on the back of declining demandinadvancedeconomies.

“Therecentchangeintheplaceof supply of transportation of goods will removelastmileconnectivitycostsof overseasexportersandimportersfor whom this GST was in any case not creditable,”saidBipinSapra,partner, indirecttax,EYIndia.

A specific clarification that the default rule is operating rule for POS (place of supply) in case of

not only transportation of goods but also for courier and mail services willhelptheindustrybenefitfromthis change,Saprasaid.

Some experts said it will increase tax burden on certain exporter like those dealing in alcohol, which is outsideambitofGST.

“While the desired principle will provide consistency between services of transportation of goods and courier services, the proposal will lead to applicability of tax for export of goods,” said Abhishek A Rastogi, founder of lawfirmRastogiChambers.

PM GatiShakti Regional Workshop for Western and Central Zone held in Goa

MUMBAI : The first Prime Minister GatiShakti regional workshop for Western and Central Zone was held Goa recently. The workshopfeatureddiscussionsonuse cases of National Master Plan (NMP) adoption by Central Ministries & State Departments for planning and acted as a platform for mutual learning among the States and Central Ministries/Departments. Sumita Dawra, Special Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Union Ministry of Commerce and Industry and senior Government officials from Central Ministries and State Governments of Gujarat, Maharashtra, Goa, Chhattisgarh,andMadhyaPradesh werepresentontheoccasion.

Addressing the workshop via video conference, Secretary, DPIIT Anurag Jain stated that PM GatiShakti will kick start the virtuous cycle of pulling in private investments, increasing production, employment and growth. He added that the GatiShakti NMP was launchedtopropelthenationtowards achieving the goal of Atma Nirbhar Bharat. Hefurthernotedthattheroot cause of many problems faced by the common man is the huge disconnect

between macro level planning and its implementation at the micro level and that the GatiShakti NMP is huge step towards resolving the same. Synergies can be built to ensure integrated planning, synchronized implementation and monitoring of infrastructure, economic and social sector projects/schemes through this platform, added Secretary AnuragJain.

Special Secretary, DPIIT Sumita Dawra observed that sincethelaunchofPMGatiShakti on Oct 13, 2021 by Prime Minister Shri Narendra Modi, several milestonessuchasthelaunchofa National Logistics Policy has been achieved. Tracing the progress made under PM GatiShakti NMP, she added that as of today over 1300 layers have been uploaded. 30 Individual portals of Central Ministries and 36 States/UTs State Master Plan portals havealsobeendeveloped.

Nodal Officers from Union Ministry of Road Transport and Highways, Union Ministry of Railways and Union Ministry of Communications and Information Technology also shared their

improved experiences with PM GatiShakti in project planning. The day further witnessed a range of sessions, including a few on demonstration of use cases and best practices of PM GatiShakti in holistic planning of economic activities and socialsectorplanning,onsignificance of City Logistics Plan in creating sustainable cities and on issues & bottlenecks on major projects of the StatesenlistedinthePMG.

Sri Lankan Government invests US$132 million in port development

COLOMBO : The Sri Lankan Government will spend around US$132 milliononportdevelopmentprojects,as stated by the Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva. According to the Minister, these investments would be made through revenue generated from port

operations.

During an event in Colombo, the capitalcityofSriLanka,NimalSiripala de Silva said the government has allocated over US$100 million for the Eastern Container Terminal and US$32 million for the Jaya Container Terminal. Both terminals are fully

owned subsidiaries of the state-owned SriLankaPortsAuthority.

Nimal Siripala de Silva addedthat apart from the aforementioned investments, the government expects to develop the Trincomalee harbor for bulk cargo operations and the Galle harborforthetourismindustry.

Asia Container Trade: China container trade market struggles with slow market pickup

HAMBURG - The current situation in the global shipping industry is complex, as container rates are experiencing a significant decline, with contract rates moving closer to spot rates. This trend is evident in different regions, such as China and Southeast Asia, despite the decline in container rates, the demand for shipping remains weak due to global inflation and restricteddemand,leadingtoasignificantdropinfreightprices.

The long-term outlook for the shipping industry remains uncertain, as the low consumer demand in North Europe and the slow market pickup in China suggest that the shipping industry will continue to struggle. Container prices in major ports across Asia, such as Ningbo, Shanghai, and Singapore, have fallen sharply in the past year, indicating that the current situation may persistintheforeseeablefuture.

Furthermore, the decline in exports to the US and the EU in 2022, coupled with the increase in trade with Russia, may result in a shift in trade routes and patterns. Although China recorded a trade surplus in 2022, it was largely due to strong export growth in the first quarter of the year, which slowed down as the year progressed. The slow pace of exports and outbound container volumes is expected to continue into the first quarter of 2023, as forecastedbyContainerxChange.

“Container trends are a crucial barometer of economic progress and global trade, and the current market outlook appears bleak. Container prices and leasing rates are plummeting, with the global shipping industry witnessing a freefallincontainerrates.Theblanksailingshavenotbeenableto control the sliding prices, and the mid-term outlook for the industry indicates a slowdown in container trade on Asia to EU and Asia to America trade lane. However, contract rates are closer to spot rates, indicating the lack of demand for long-term commitments, which can be attributed to market uncertainty.”, said Mr. Christian Roeloffs, CEO & Co-Founder, of Container xChange.

“Intra-Asia trade is showing some resilience, with comparatively better demand for containers. Nonetheless, the mid-term outlook does not project demand to rise to the heightenedlevelswitnessedin2020and2021, exceptforapossible inventory replenishment cycle that may bring about some demand for containers. The falling rates and increased availability of containers in certain regions of the world are indicative of weak demand and slower economic growth.”, he added.

In summary, the global shipping industry is facing a complex situation, with a freefall in container rates, weak demand, and a shift in trade routes. While the shipping industry may witness a reboundinthefuture,thecurrentoutlookremainsuncertain.

CHINA(NORTH-EASTASIA)

Chinacontainertrademarketstruggleswithslowmarketpickup

Container volumes and rates remain low after Chinese New

Year, signalling a shift in the shipping industry. By October 2022, an oversupply of containers had led to carriers wanting to offload their inventory. However, due to global inflation and restricted demand, spot rates, contract rates, and container prices have sharply fallen, with one major Asia-US route experiencing an 80% dropinfreightprices.

Additionally, container rates remain low, with Asia-US West Coast rates in January 2023 being 11% lower than in January 2020 and Asia-US East Coast rates in January 2023 being 84% lower thaninJanuary2022.

in addition to Asia-US shipping routes, consumer demand in North Europe is unlikely to improve soon. The average pick-up rates from China to ports in North Europe remain low, with 20ft container rates averaging $861 and 40ft HC rates averaging $823 until January. In January 2022, the average pickup charge for a 40HConthesameroutewasover$3,000.

After comparing the prices of a 20-foot cargo-worthy container in the top three ports of Asia – Ningbo, Shanghai, and Singapore – to their prices in January 2022, we observed a significant decline in all three ports. The average price in Ningbo decreased from $2,460 to $1,290, while in Shanghai it fell from $2,370 to $1,270, and in Singapore it went down from $2,410 to $1,240.

In January 2023, the average cost of a 20-foot container in Northeast Asia was $1,300, while it was $1,250 in Southeast Asia. The graph below indicates the average prices of 40-foot containers. China’s 2022 exports to US and EU weaken, trade with Russiahitsrecord

Despite these challenges, China recorded a trade surplus in 2022, which grew by 29.7% from the previous year. However, this growth was largely due to the strong export growth in the first quarter of the year, which slowed down as the year progressed, particularly after central banks increased interest rates to tackle inflation.

Container xChange predicts that export growth and outbound container volumes will remain low in the first quarter of 2023. While exports to the US and the EU declined in 2022, exports to Russiaincreasedby8.3%.

According to GAC, goods trade between China and Russia reached 1.28 trillion yuan ($190 billion) in 2022, a 30% rise from 2021, largely due to China’s purchases of oil and coal from Russia. ByNovember2022,RussiahadsurpassedSaudiArabiaasChina’s topcrudeoilsupplier.

On our leasing platform, we found that as of January 17, the average pick-up rate for leasing a container from Shanghai to Moscowwas$832.Itwas$2,425inJanuary2022.

In Shanghai, the price of the box itself (all types and conditions) has been steadily dropping. In January, the average price of a cargo worthy 40ft DC was $1,712. And the average price ofthesameinMoscowuntilDecemberwas$1,710.

WCO Secretary General promotes Customs role in fragile and conflict-affected situations

MUNICH : From 17 to 19 February, Dr. Kunio Mikuriya, the Secretary General of the World Customs Organization (WCO), attended the 59th Munich Security Conference (MSC)attheHotelBayerischerHofinMunich,Germany.

This prominent global forum, founded back in 1963, gatheredover850delegates,includingmorethan40Heads of State and Government, over 60 ministers, as well as representatives from academia, think tanks, civil society andbusinesses.

The MSC, under the motto ‘’Peace through Dialogue’’, has traditionally focused on global security and defence matters. However, in an increasingly globalized and interconnected world, security is intertwined with other matters such as global trade, supply chain resilience, economic and human development, and there is a need to addressthesetopicsinamoreholisticmanner.

Secretary General Mikuriya participated in a number of sessions, including a roundtable on the human dimension of critical resources in Africa. This topic is of interest to many WCO Members facing the impact of

mining operations that are out of the government control. This affects not only border security and state revenue, notably through the provision of the source of funding for non-state armed groups, but also leads to other negative effects, such as environmental degradation. Dr. Mikuriya also raised the issue of Customs contribution to resolving the challenges arising from climate change at another roundtablethatincludedtherepresentativesoftheCOP28 Presidency, United Nations Development Programme (UNDP), several think-tanks, and representatives of governments both from the African continent and Europeancountries.

In the margins of the Conference, the Secretary General also met with several Heads of State and Governmentandministers,andheldbilateralmeetingson security matters, including the with Mr. IIkka Salmi, the EU Counter-Terrorism Coordinator. He discussed the challenges surrounding Customs cooperation, and the sharingofintelligencewithmilitarycommunitiesinfragile andconflict-affectedsituations.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 22/02/2023

VESSELS IN PORT & DUE FOR EXPORT

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

KANDLA INTERNATIONAL CONTAINER TERMINAL

SHIPS NOT READY FOR BERTH

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 VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI INTERNATIONAL CONTAINER TERMINAL (AICT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI CMA MUNDRA

TERMINAL PVT LTD (ACMTPL), MUNDRA

TO LOAD FOR U. K. NORTH CONTINENT, MEDITERRANEAN, BLACK SEA, RED SEA, EAST EUROPE & CIS PORT

ETA Cut Off Vessel’s Name Voy No. VCN Line Agents Will Load For ETD TO LOAD FOR MEDITERANEAN PORTS, U.K., NORTH CONTINENT, SCANDINAVIA, BLACK SEA, EAST EUROPEAN & CIS DESTINATIONS

MUNDRA AUTOMOBILE TERMINAL

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO LOAD FOR EAST, SOUTH &

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

SHIPPING MOVEMENTS AT ADANI HAZIRA PORT

JAMNAGAR (BEDI)

OTHER PORTS OF GUJARAT

(As on 22-02-2023)

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSFT

NSICT

NSIGT BMCT

Vessel Name (Voy) Sailing Dt. Next Port

19-02-2023 Mundra

MSC Erminia (V-JD306R) 19-02-2023 Jebel Ali

Wide Juliet (V-027E) 21-02-2023 Colombo

Ever Dainty (V-E169) 21-02-2023 Port Kelang

G H Curia (V-E013) 16-02-2023 MICT

Maersk Gibraltar (V-306W) 17-02-2023 Salallah

Wan Hai 305 (V-E263) 17-02-2023 Tuticorin

Kota Lagu (V-10W)

Bhum (V-114E)

Colombo

VESSELS ON BERTH AT MbPA / NSFT/ NSICT/ NSIGT

W. E. F. 17-02-2023

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

VESSELS DUE/IN PORT FOR IMPORT DISCHARGE AT MUMBAI