YEARS
Vol. LX No. 68 rd THURSDAY 23 APRIL 2020
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Ministry of Shipping unveils relief package for coronavirus-hit cargo terminal operators at Major Ports NEW DELHI: The Shipping Ministry has allowed firms running cargo terminals at state-owned major ports on the public-private-partnership (PPP) mode to defer their April, May and June months’ revenue share, royalty and equipment hire charges without any interest. This is part of a relief package signed off by the Shipping Minister Mansukh Mandaviya to ease the burden on PPP operators, port users and other stake holders hit by the
outbreak of the coronavirus. The revenue share, royalty and equipment hire charges deferred will have to be paid by the PPP operator after interest free period of three months (reckoned month to month – the charges due in April 2020 shall be paid in month of August 2020). Alternatively, the deferred amount can be paid through six monthly equated instalments at interest rate equal to RBI’s 91-days treasury bill (primary) yield rate (as on the due date
of initially deferred amount) after expiry of interest free period, according to an order issued by the Ministry recently. The 12 ports have been permitted to waive lease rentals, licence fees and similar charges payable by the PPP operator for three months (April, May and June) to the extent of the reduction in the volume of cargo handled at their facilities compared to the monthly average cargo volume of last calendar year – Jan 1, 2019 to Dec 31 2019. Cont’d. Pg. 11
Maersk urges Indian clients to switch from road to rail, during lockdown MUMBAI : Amid Covid-19 and lockdown in the country, Maersk India urged its customers to switch from road to inland rail service for faster and uninterrupted container movement. The lockdown had already caused tremendous damage to Indian logistics and the most affected is road transport which had seen state authorities stopping them trucks at borders, drivers leaving to home states fearing
Covid-19 and even leaving their trucks nowhere in the Country. Major airport and seaports witness cargo congestion and have significantly reduced their cargo movements. Grounding of passenger flights took away capacity from air cargo too. Meanwhile, rail is the only mode of transport that seems to flow freely throughout the Country. Mr. Steve Felder, Managing Director of A.P. Moller-Maersk South Asia noted in his LinkedIn post “Beat the limitations on road transport
during the Covid-19 lockdown in India, by using our inland rail services to deliver your cargo from the port to the nearest ICD and avoid uncertainties of long haul road transport during t h e l o c k d o w n . Mr. Steve Felder Switch from road to rail for faster and uninterrupted container delivery.”