MUM-24-08-2023

Shantanu Thakur asks stakeholders to join and participate in Global Maritime India Summit 2023

NEW DELHI: As part of series of roadshows under the guidance and direction of Ministry of Ports, Shipping & Waterways for inviting and attracting clients and various stakeholders to participate actively in forthcoming Global Maritime India Summit scheduled to be held in October in New Delhi, Indian Port Rail & Ropeway Corporation Limited (IPRCL) organized a virtual roadshow recently. This had a pan India presence involving corporate and regional & site offices of IPRCL across various States in India. Representatives from Zonal Railways, State Maritime Boards, MoRTH, Major Ports, major Government sector units like Coal India Ltd., NICDC, NTPC, OMC, NALCO participated in the roadshow

will be an enlightening experience, focused on providing stakeholders with comprehensive insights into forthcoming GMIS-23 involving global participation Summarizing business opportunities in the GMIS-23, ShriGuptaexplainedthatbyattendingthisevent,clientswill gain access to a wealth of knowledge, expert perspectives, opportunity to collaborate and build a wider network.

A presentation was shown to all clients highlighting the professional profile of IPRCL and essential information about GMIS-23. Presentation widely covered the success

Various industrial bodies and corporate units like JSW, Vedanta, Tata Steel, Jindal Power, Thriveni, Pipava Port, Rungta Mines, Legacy Warehouse, Ennore Tank Terminal, URC and various other units were active participants in the roadshow. More than 190 participants were available in the roadshow consisting of Central and State Government agencies, Railways, Ports, Maritime Boards and various officials from different corporate and industrial units related to maritime, infrastructure, logistics and other sectors.

The Minister of State for Ports, Shipping & Waterways (MoPSW) Shri Shantanu Thakur virtually graced the occasion inspiring the stakeholders to join and participate in GMIS – 23 He said that GMIS-23 will provide viable opportunity to connect with industry leaders, innovators and business experts in maritime sector around the world and to collaborate and discuss He further highlighted that the summit will also offer an unparallel opportunity to showcase talent and forge new partnership for gaining insights into national and global port related industrial, infrastructure and logistics opportunities He mentioned that this event is inspired by our Prime Minister Shri Narendra Modi Ji’s inspiring vision of making Indian maritime sector as a leading blue economy of the world.

In his inaugural speech Managing Director, IPRCL

Shri Anil Kumar Gupta emphasized that the roadshow

journey of Indian Maritime sector and the growth trajectory since last decade in various areas of maritime industry The smart port, green shipping, capacity enhancement through automation, ship building & recycling, maritime tourism, inland waterways grids, maritime safety & security were deliberated for the knowledge of clients. Corporate video of GMIS was also presented to enlighten clients about business opportunities in GMIS. Shri Anang Pal Malik, Director Works and Shri R.K. Lal, CGM Business Development, IPRCL interacted with clients flagging advantages for business growth and collaboration by participating in Global Maritime India Summit 2023.

Senior officers from South-Eastern Coalfields Ltd. and JNPA represented their companies as Guest speakers and highlighted business opportunities which companies will gain during GMIS-23.

MSC : Sentosa Service returns to Southeast Asia and India

GENEVA: MSC has informed in its recent statement that, “as part of our continuous efforts to satisfy market demand and offer competitive transit times, MSC is revising the rotation of its Sentosa service.”

Enhanced Security: Introducing 2-Party OTP Authentication for Delivery Order

MUMBAI: In an era of rapidly advancing digitization, the need for stringent security measures has become paramount. Taking significant strides towards enhancing security in the shipping industry, Econship Tech Pvt Ltd has launched its latest innovation–2-Party OTP Authentication for releasing Delivery Orders. Aimed at safeguarding sensitive cargo data ...

Cont’d. Pg. 6

Advance preparation by Exporters, Govt must comply with EU's carbon tax: GTRI

NEW DELHI: Government and exporters have to take urgent steps like devising mechanisms for monitoring emissions data, and providing incentives for the adoption of greener technologies to deal with the European Union's carbon tax as it would impact exports of sectors like metals, a report said.

Suggesting a nine-step action plan, the report by Global Trade Research Initiative (GTRI) said that Indian firms have less than 40 days to prepare for the CBAM (carbon border adjustment mechanism) transition

The CBAM or carbon tax (a kind of import duty) will come into effect from January 1, 2026, but from October 1 this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, a l u m i n i u m a n d h y d r o c a r b o n products, will have to share data with regard to carbon emissions with the EU.

"The CBAM tax will start from January 2026, but there are penalties on not reporting, negligent reporting or mis-reporting of data from October 1, 2023, onwards," GTRI Co-Founder Ajay Srivastava said.

He said that the transition period for the tax, starting October 1,

brings extensive data compliance requirements for Indian exporters.

The GTRI suggestions assume significance as the EU on August 17 notified compliance requirements for t h e C B A M t r a n s i t i o n p e r i o d , which starts from October 1 this year

"The CBAM documents exceed 800 pages of complex legal, technical texts, necessitating thorough understanding by the Government and industry," he added.

The CBAM will translate into a 20-35 per cent tax on select imports into the EU starting January 1, 2026.

India's 26.6 per cent of exports of iron ore pellets, iron, steel, and aluminium products go to the EU. These products will be hit by CBAM. India exported these goods worth $7.4 billion in 2023 to the EU.

"CBAM imposes massive data compliance requirements on Indian exporters. For every consignment, exporters have to share hundreds of 1000 data points, explanations, and methods used with EU counterparts. Neglect or misreporting leads to stiff penalties," Srivastava said.

He said that with low level of domestic data capture, Indian firms need to set up systems first before reporting data.

"Small firms will suffer more from penalties than tax burden," he cautioned.

The nine steps include awareness and education; data collection and management; compliance strategy; r e p o r t i n g a n d s u b m i s s i o n ; risk mitigation; long-term planning; monitoring and review; and industryacademia collaboration.

Further for long-term planning, the report recommended industries to invest in research and innovation to reduce emissions and improve energy efficiency; and asked the government to provide incentives, grants, or subsidies to companies that adopt greener technologies.

To strengthen industry-academia collaboration, it asked academic institutions to offer specialized courses and training programmes on carbon emissions reporting and management.

"By systematically following the action plan, the government and industries can prepare for the challenges posed by the CBAM, ensure smooth compliance, and minimize the risk of penalties while positioning themselves for a m o r e s u s t a i n a b l e f u t u r e , " it added.

CWC to double revenues in 2 years, plans massive capacity expansion : MD, Amit Kumar Singh

NEW DELHI: Public warehouse o p e r a t o r C e n t r a l Wa r e h o u s i n g Corporation (CWC) is planning to double its revenues in the next two years through capacity expansion in the warehousing space and a bigger play in third-party logistics (3PL) and domestic container business The company posted annual revenues of Rs. 2,175 crore in FY23.

The country’s largest warehouse player by reach and land bank, CWC has about 115 lakh MT (metric tonne) capacity across warehouses in 465 locations across the country today While 45% of the space (and revenues) are from the storage of agriculture products/food grains, the e-commerce sector accounts for another 20%. The rest is industrial products.

“We have a massive capacity expansion plan for this year and next year We are adding about 47 lakh sq ft of capacity, which will be the double of what we have added in the last two years. This is through our own capex We have earmarked about Rs 1000 crores for this This will be all Grade A (industrial capacity)” says Mr. Amit Kumar Singh, Managing Director, CWC.

The corporation is also looking at adding capacity through public-private partnerships (PPP). “We have identified about 85 locations, where we will be going for modernisation, and the creation of facilities through private participation. And we are expecting the p r i v a t e s e c t o r t o i n v e s t a b o u t Rs 1500 crore in the next two years for these PPPs, which will see the addition of about 120 lakh sq ft Grade A warehouse capacity”, Singh says.

The Corporation is also planning to create a network of cold storages, with value-added services in the PPP mode. Singh says that CWC has identified 180 locations for this purpose. These locations are either production centres or consumption centres of perishable goods as the country doesn’t have an efficient cold storage network and there is a huge loss which takes place in fruits and vegetables.

“We have done a preliminary study, and we are now going for a detailed study now We will be providing the basic infrastructure, land, and civil structure (in all these locations) The private players who want to come in will just have to retrofit it. They invest, and they

operate it for a certain number of years. It will see another Rs 800 crore to 900 crore of investment from the private sector”, Singh adds

In addition to value-added services for agri-business, the end-to-end solutions for big players in agri, and industrial warehousing, CWC is also getting into the 3PL business. “We are also acquiring container rakes We have already placed the orders for the rail logistics. The current business mix will change The industrial pie (in terms of business and revenues) w i l l i n c r e a s e D e m a n d w i l l b e c o m i n g t h r o u g h 3 P L p l a y e r s , the aggregators These are the demand drivers we are looking at in the coming years”, Singh said.

Incidentally, the Government is also planning to convert CWC into a c o m p a n y b y a m e n d i n g t h e Wa r e h o u s i n g C o r p o r a t i o n A c t , the statute under which CWC operates at the moment. The change in legal structure is expected to empower the company’s board and provide more flexibility in its mandate to face i n c r e a s i n g c o m p e t i t i o n i n t h e warehousing and logistics space

DGFT amends export policy of Non-Basmati White Rice

NEW DELHI: The Directorate General of Foreign Trade (DGFT) vide Trade Notice no. 23/2023 issued on 18th August 2023 has notified the amendment of export policy of nonbasmati white rice. The Export Policy f o r N o n - b a s m a t i w h i t e r i c e (Semi-milled or wholly milled rice, whether polished or glazed: Other) categorised under HS code 1006 30 90 has been changed from ‘Free’ to ‘Prohibited’ as per Notification No. 20/2023 dated 20.07.2023.

The provisions outlined in Paragraph 1.05 of the Foreign Trade Policy, 2023, concerning transitional

arrangements, were not extended. Nonetheless, shipments of Nonbasmati rice were permitted for export under the subsequent c o n d i t i o n s : w h e r e l o a d i n g o f Non-basmati rice on the ship has commenced before this Notification; where the shipping bill is filed and vessels have already berthed or arrived and anchored in Indian ports and their rotation number has been allocated before this Notification; The approval of loading in such vessels will be issued only after confirmation by the concerned Port Authorities regarding anchoring/berthing of the

ship for loading of Non-basmati rice prior to the Notification; where Non-basmati rice consignment has been handed over to the Customs / custodian before this Notification and is registered in their systems/ where Non-basmati rice consignment has entered the Customs station for exportation before this Notification and is registered in the electronic systems of the concerned custodian of the Customs station with verifiable evidence of date and time stamping of these commodities having entered the Customs Station prior to 20.07.2023.

Customs to clear stranded non-basmati rice cargoes till August 31

NEW DELHI: The exporters whose rice shipments were stuck at ports following export bans may get some relief.

The centre has directed Indian customs to allow shipments of non-basmati rice for export where the shipment has commenced where shipping bills were filed and where vessels arrived and anchored in Indian ports before ban notification.

The Customs has instructed its field formations to allow exports till

August 31, in such cases.

India imposed an export curb on non-basmati white rice, including semi-milled, wholly-milled, polished and glazed varieties on July 20 to meet the domestic demand.

'The approval of loading in such vessels will be issued only after confirmation by the concerned Port Authorities,' the instruction said.

N o n - b a s m a t i w h i t e r i c e constituted about 25% of total rice exported from the Country

However a large number of cargoes which had already arrived at the port ahead of the notification and according to industry estimates, about 2 lakh tonnes of rice cargoes were stranded at the port.

The Customs officials had sought clarity from the Directorate General of Foreign Trade (DGFT).

The DGFT on August 18 issued a clarification that such cargoes arriving at the port ahead of the July 20 order must be cleared for export.

Enhanced Security: Introducing 2-Party OTP Authentication for Delivery Order

Cont’d. from Pg. 3 a n d t h w a r t i n g unauthorised access, the new feature introduces an additional layer of verification making cargo -related transactions substantially more secure.

“At Econship Tech Pvt Ltd, we prioritise the security of cargo data, so this innovative feature reflects our commitment to u p h o l d i n g t h e h i g h e s t standards of protection," states Mr. Rakesh Nair, Senior Manager of Design Thinking.

“ T h r o u g h 2 - Pa r t y O T P A u t h e n t i c a t i o n , w e a r e establishing an extra layer of defence, thereby reinforcing the authenticity and reliability of our online shipping processes," states Mr. Rakesh Nair, Senior Manager of Design Thinking. Here's how the unique 2-party process works.

Upon Bill of Lading issuance, the shipper receives an OTP (One-Time Password) via email.

The shipper then shares this OTP with their consignee—who is required to present the OTP to the shipping line's agent for the release of

MSC : Sentosa Service returns to Southeast Asia and India

Cont’d. from Pg. 3

“The service will now include port calls at Port Klang, Singapore and Busan, as well as reinstating its India connections, providing MSC customers with improved interconnectivity and transit times between Southeast Asia, China and the U.S. West Coast.”

The new rotation of the service will be as follows:

Port Klang – Singapore – Laem Chabang –Vung Tau – Busan – Long Beach – Oakland – Busan –Qingdao – Shanghai – Ningbo – Shekou – Singapore –Colombo – Mundra – Nhava Sheva – Colombo –Port Klang. Haiphong will no longer feature in the rotation, but will continue to connect to the Sentosa service via Busan and offer rapid transit times via our intra-Asia network. Transit times will be Busan to Long Beach in 12 Days, Mundra to Long Beach in 40 days.

The first vessel on this new rotation will be MSCFRANCESCA,VoyagenumberFV336A,due to arrive in Port Klang on 5 September 2023.

their Delivery Order No OTP, no Delivery Order.

The OTP acts as a secure code to facilitate the release and delivery of cargo, ensuring that only authorised parties gain access. In so doing, the cuttingedge security feature safeguards t h e i n t e g r i t y o f c a r g o documentation and assures stakeholders that their cargo information remains confidential.

With the rollout of its latest security measure, Econship Tech Pvt Ltd continues to honour its mission of delivering industryleading solutions that empower s t a k e h o l d e r s w h i l e s i m u l t a n e o u s l y e n s u r i n g t h e s e c u r i t y o f c a r g or e l a t e d o p e r a t i o n s A n achievement which stands as a t e s t a m e n t t o i t s o n g o i n g commitment to excellence in the maritime and shipping sector. For more information about 2-Party OTP Authentication for Delivery Order, please visit www.econshipping.com or contact Mr. Rakesh Nair, Senior Manager of Design Thinking, at rakesh@econshipping.com.

& 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. Pun.Conware 30/08

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

TO

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

from BMCT

TO LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from NSICT

TO LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from NSIGT

TO

TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH

& WEST INDIES PORTS from BMCT

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

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

Emirates Shpg. Jebel Ali, Sohar.

Feeders Sea Consortium Jebel Ali, Bandar Abbas.

LMR Logistic Ser. Jebel Ali, Bandar Abbas.

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 Parekh Gulf Ports.

TO LOAD FOR WEST ASIA GULF PORTS From BMCT

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

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

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

PORTS from GTI

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

Caimep, Kaohsiung, Pusan, Seabird CFS Maersk

Maersk India 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.

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

TO LOAD FOR AUSTRALIA & NEW ZEALAND PORTS from BMCT

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

RBI nudges banks to settle UAE trades in Rupee and Dirham

NEW DELHI: India’s Central Bank is nudging local banks to ask their clients to settle trade between the United Arab Emirates and India using the Dirham (AED) or Indian Rupee (INR) to reduce U S -dollar-based transactions,fivesourcestoldReuters.

The move is part of the Reserve Bank of India‘s broader aim of promoting settlement in local currencies with countries with which India has a trade deficit, with the knock-on effect of boosting the rupee’s global reach, three banking sources said.

India’s trade deficit with the UAE was $21.62 billion in 2022/23, or 8.2% of its total deficit, government data shows In July, the two countries agreed to facilitate trade in rupees instead of dollars.

The idea, a government source said, was to reduce the outflow of dollars on account of this trade deficit.

“The RBI has asked banks to

encourage clients and corporates to initiate INR-AED trades gradually, instead of using the dollar,” said a treasury official at a private bank.

An RBI official communicated this message verbally to foreign exchange dealers at a seminar this month, four sources said This communication has not been previously reported.

None of the sources wished to be n a m e d b e c a u s e t h e y a r e n o t authorised to speak to the media The RBI and trade ministry did not respond to a Reuters email seeking comment.

The RBI may consider setting internal targets for the quantum of India-UAE trade it would like to see moved away from dollars, said the government source.

The central bank is “keen that volumes of such trades go up” and “has assured the market that they will be ready to support banks with INR-AED trades,” this banker said.

While data on such cross-currency trade volumes is not publicly available, at least three bankers said the current volume is low and may act as a hurdle for corporates to pay for the entire import in dirhams.

Indeed, earlier this month, Indian Oil Corp paid Abu Dhabi National Oil Co (ADNOC) in rupees to buy a million barrels of oil.

“The RBI is telling banks to first e n c o u r a g e l a r g e c l i e n t s a n d corporates to start INR-AED trades because their balance sheets are relatively stronger,” another banker said.

But large corporates have, so far, been reluctant in engaging in nondollar-denominated deals, said a banker with a state-run firm.

With smaller companies, on the other hand, bankers have pushed for such transactions by offering discounted service charges as an incentive, the banker said.

Asia's largest onion market stops trade indefinitely to protest against Centre's 40% export duty

N A S H I K : T h e A g r i c u l t u r e Produce Market Committee (APMC) of Lasalgaon in Nashik, which is A s i a ' s l a r g e s t o n i o n m a r k e t , has stopped the trading of the bulb indefinitely to protest against the Centre's imposition of 40 percent export duty on the kitchen staple.

Along with the market based in Lasalgaon, other APMCs in Nashik district have also boycotted the sale of onion.

The All India Kisan Sabha (AIKS), the farmers' body linked to the C o m m u n i s t P a r t y o f I n d i a ,

has appealed to all APMCs across Maharashtra to halt the trading of onions. "Not only in Nashik, but across Maharashtra, farmers will come out to protest against the government's move to impose export duty on onions," AIKS General Secretary Ajit Nawale said.

"The central government has continuously adopted anti-farmer policies First,byfacilitatingtheimport of tomatoes and milk products, and now by placing export duty on onions, the government has damaged the interests of farmers To protest against

this, farmers across Maharashtra will boycott the sale of onions at the APMCs Kisan Sabha will support their agitation,"Nawaleadded.

The move to impose the export duty was announced on August 19, a m i d a s u r g e i n t h e o n i o n p r i c e s a c r o s s t h e c o u n t r y. The maximum price for onion crossed Rs 67 per kilogram, as per the Department of Consumer Affairs The modal price across India remains Rs 31 per kilogram, which is higher as against the modal price of Rs 27.34 a month back and Rs 24 a year ago.

Rating Agency ICRA projecting 8.5% growth in Q1FY24

MUMBAI: The Indian GDP may surpass the latest Reserve Bank of India projections for the first quarter of the current financial year (Q1FY24) as per a latest report released by credit rating agency, ICRA In its last policy, the RBI Monetary Policy Committee (MPC) had left its growth forecast unchanged at 8.0% for the first quarter while ICRA is projecting a 8 5% growth in this period. The reason? As many as 11 of the 14 high-frequency indicators

pertaining to the services sector recordedaYoYgrowthinQ1FY2024

“Economic activity in Q1 FY2024 was boosted by a continued catch-up in services demand and improved investment activity, particularly a w e l c o m e f r o n t - l o a d i n g i n Government capital expenditure Moreover, sharply lower prices of various commodities on a YoY basis supported margins in some sectors,” said Aditi Nayar, Chief Economist,

Head-Research & Outreach, ICRA.

The report also states that the GVA (gross value added) growth is seen at 8.1% in Q1 FY2024 (+6.5% in Q4 FY2023), driven by the recovery in the services sector (+9.7% vs. +6.9%), even as improved margins are likely to have shielded the industry (+7.3% vs. +6.3%) from weak external demand, with a relatively lower growth foreseen in agriculture (+4.0% vs. +5.5%).

India eyes stronger ties with Federation of Saudi Chambers

RIDAYH: India seeks to improve its long-standing trade ties with Saudi Arabia, with its embassy in the K

r cooperation with the Council of the Federation of Saudi Chambers.

To this end, a meeting was held at

the Qassim Chamber of Commerce and Industry’s headquarters in Buraidah

It was attended by Muhammad AlHanaya, secretary-general of the chamber, and Suhel Ajaz Khan, IndianambassadortoSaudiArabia.

The envoy said the volume of trade

and partnership between India and the Kingdom as well as the promising a n d s u s t a i n a b l e i n v e s t m e n t opportunities, reflect the depth of the two countries’ relations and confirm the importance of shared visions on many global issues.

India Inc feels optimistic for Q3 2023; expects hike in net profits and order books: Dun & Bradstreet survey

MUMBAI: Businesses in India are hoping for improved results for the upcoming Q3 of FY2023 as compared to the same quarter last year, revealed the Dun & Bradstreet Composite Business Optimism Index by Dun & Bradstreet which showed that the index stands at 70, 0.2 per cent higher than Q3 2022.

Based on the survey of the analytical firm for Q3, 55 per cent of respondents hope to observe a rise in their orders in Q3 2023, 15 percentage points higher than Q3 2022.

When it comes to profit, 42 per cent of the businesses who were part of the

survey are expecting a hike in net profits in Q3 2023 compared to 34 per cent in Q3 2022, which is almost an increase of seven percentage points However, 11 per cent of the respondents do feel that they can expect a fall in their net profits.

“Business optimism has come out marginally positive in Q3 2023, which is indicativeoftheresiliencewithintheIndian economy amid recessionary headwinds in the global economy The growth momentum in the economy is cushioned with sufficient domestic demand and stronger than expected investment

resulting in positive sentiments, anticipating order book expansion,” said ArunSingh,GlobalChiefEconomist,Dun& Bradstreetonfirm’srecentreport

The report also revealed that businesses in India are hesitant to increase the selling price of their products. Almost 32 per cent of the respondents expect the selling price of their products to increase during Q3 2023, lowest in nine quarters.

“ D e s p i t e t h e i n f l a t i o n a r y environment,firmsarehesitanttopasson the cost burden to end consumers due to highercompetition,” said Singh.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

VESSELS IN PORT & DUE FOR

LOADING

China

SSL Bharat 24/08 Chenn./ Vishakha./Haldia

Articulate 24/08 Brazil

VESSELS IN PORT & DUE FOR IMPORT

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

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 VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

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

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

AUTOMOBILE TERMINAL

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

JAMNAGAR (BEDI) PORT

(As on 23-08-2023)

MULDWARKA PORT

NB The data in this Daily pertaining to Ports Information is received by us, sometimes even at the eleventh hour by telephonic messages from the concerned Steamer Agents. Therefore, there is every likelihood of last minute change in the data published the Management of Daily Shipping Times exercise every necessary care & attention in collecting every data & getting it published accurately Inspite of this, if any ommission, inaccuracy or printing error occur in the data published in this daily, the Management of Daily Shipping Times is not responsible or liable.

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSICT

Pipavav

Wadi Bani Khalid (V-2311E) 20-08-2023 Mundra

Wide Juliet (V-032E) 21-08-2023 Colombo

OOCL Luxembourg (V-104E) 22-08-2023 Pipavav

Argolikos (V-E0153) 23-08-2023 Port Kelang

Wan Hai 362 (V-3002) 18-08-2023 Tuticorin

ESL Dachan Bay (V-02330E) 18-08-2023 AMCT

Xin Hongkong (V-064E) 19-08-2023 Pipavav

Guard (V-004E)

Pu Dong (V-0268E)

Ningbo (V-23006E)

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

IMPORTER'S GUIDE

17 18

19/20

21 Argos M J M Baxi

B.Pier Delina Samsara

B.P. Extn. Xin Hai Tong 20 Mitsutor

OCT 1 OCT 2

JNPJNP JNPCT/COASTAL/CT/COASTAL/ CT/COASTAL/CT/COASTAL/ CT/COASTAL/LIQUIDBERTHLIQUIDBERTH LIQUIDBERTHLIQUIDBERTH LIQUID BERTH

SB-2 Sanghi

Wan Hai Lines (I)

BMCT-3 Maersk Guatemala Maersk India

W. E. F. 18-08-2023

TT Buying Rates Bill Buying TT Selling Rates Bill Selling

for Clean Rates for for Clean Rates for

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

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DP World announces Resilient 1H2023 results with Adjusted EBITDA of $2.6 billion

DUBAI: DP World Limited has announced resilient financial results for the first six months to 30 June 2023. On a reported basis, revenue grew by 13.9% to $9,037 million and adjusted EBITDA grew by 7.0% to $2,611 million with adjusted EBITDA margin of 28.9%.

Results Highlights

Revenue increased by 13.9% to $9,037 million

Revenue growth of 13.9% is mainly attributable to the full six months consolidation of Imperial Logistics (2022 – 4 months).

Like-for-like growth driven mainly from strong performance of Imperial Logistics in Africa and Drydocks World in UAE.

Adjusted EBITDA increases 7.0% to $2,611 million

Adjusted EBITDA grew 7.0% on higher revenue growth and EBITDA margin for the year stood at 28 9% Like-for-like adjusted EBITDA margin stood at 30.8%.

Cash generation remains robust, Balance sheet strong

Net cash generated from operating activities stood at $1,951 million 1H 2023 (compared to $1,931 million in 1H 2022)

Leverage (Net debt to adjusted EBITDA) on a pre-IFRS16 basis stands at 2.8x (FY2022: 2.7x). On a post-IFRS16 basis, net leverage stands at 3.2 times compared to 3.0 times in FY2022. DPWorldcreditratingimprovestoBBB+withStableOutlook

DP World’s credit rating improved by two notches by Fitch to BBB+ with Stable Outlook and one notch by Moody’s to Baa2 with Stable Outlook on improved financial performance and a stronger balance sheet.

DP World is committed to a strong investment grade rating in the medium term.

Resilient 1H 2023 performance, outlook remains uncertain

Solid 1H 2023 performance but outlook remains uncertain due to geopolitics, inflationary environment, higher interest rates and currency fluctuations.

DP World remains positive on the medium to long-term outlook for global trade and is focused on delivering integrated supply chain solutions to cargo owners to drive sustainable returns.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented: “We are pleased to share a resilient set of results for the first half of 2023, with our adjusted EBITDA enhancing by 7 0% to surpass $2 6 billion Despite facing a softer container market and weakened freight rates amid challenging economic conditions, our focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results This strategy has not only been effective during these challenging times but also lays the foundationforoursustainablelong-termgrowthandreturns

Our logistics vertical has demonstrated robustness in this demanding economic landscape, attracting more cargo owners to our platform. The positive feedback to our end-to-end product emphasis the value of our customised solutions enables c u s t o m e r s t o c o n d u c t t r a d e m o r e e f f e c t i v e l y Strategic investments in high-growth sectors enable us to provide value-added solutions, and we remain committed to continuously enhancing our logistics platform. This includes addressing supply chain inefficiencies and enhancing connectivity in crucial trade lanes to serve cargo owners better

Notably, we continue to make substantial progress towards our 2050 net zero carbon target. Our recent investment in renewable energy through the I-REC programme has significantly cut DP World UAE business carbon emissions by 47%. We are confident of achieving our goal to cut CO2 emissions by 700k tonnes which accounts for approximately 22% of our total emission within the next five years.

In summary, our balance sheet remains robust, and we continue to generate high levels of cash flow, which provides us the flexibility to invest in the growth of our existing portfolio and new investment opportunities when they arise. While the near-term trade outlook may be uncertain due to macroeconomic and geopolitical factors, the solid financial performance of the first six months positions us well to deliver a steady set of full-year results. We remain optimistic about the medium to long-term prospects of the industry and DP World’s capacity to consistently generate sustainable returns.”