India will be a Major Shipping Centre in 25 years, says Sarbananda Sonowal
NEW DELHI: Union Minister Sarbananda Sonowal praised the newly presented Union Budget 2024 for its measures aimed at bolstering the shipping and cruise industry. Speaking to the media, Sonowal outlined the central government’s ambitious vision for the sector over the next quarter-century. “In the budget, various steps have been taken to boost the shipping and the cruise industry ,” Sonowal said.
Global Freight Forwarding market to expand 1.7% in 2024 : Ti Report
F r e i g h t Forwarding 2024 Report
f r o m T i
He said: “It is clear that in the next 25 years, India will be a part of the top five countries in the shipping industry.” The Minister highlighted the budget’s focus on ship repairing and shipbuilding, stating that it will be significant in economic and employment growth.
“The work related to ship repairing and shipbuilding will get a huge boost and lakhs of people will get employment opportunities,” he stated.
Hapag-Lloyd updates South East India-Europe Express
service
Insight – the leading provider of market research to the global logistics industry –shows that the global freight forwarding market continues to normalise, with demand for air and sea freight forwarding services remaining soft.
Challenges arising from a global economic downturn, shifts in consumer behaviour, and an oversupply surpassing demand have led the global freight forwarding market to contract by 1.3% in real terms (holding prices and exchange rates constant) in 2023.
Cont’d. Back Pg L O N D O N : T h e G l o b a l
HAMBURG: Hapag-Lloyd has announced changes in its South E a s t India – Europe Express (IEX) service.
Starting at the end of July, Hapag-Lloyd will stop calling at Le Havre, France and V i s h a k a p a t n a m , I n d i a , will add Valencia, Spain (CSP Terminal) and switch from Gateway to PSA Terminal in Antwerp, Belgium.
The updated service rotation of Hapag-Lloyd’s IEX service will be : Rotterdam (Netherlands) -> London Gateway (UK) -> Hamburg (Germany) -> Antwerp (Belgium) -> Colombo (Sri Lanka) -> Kattupalli (India) -> Colombo -> Kochi (India) -> Valencia (Spain) -> Rotterdam, NL.
Another huge mothership to arrive at Vizhinjam Port
T H I R U V A
: T h e mothership of MSC, the World’s largest shipping company, is likely to arrive at the Vizhinjam International Seaport soon. MSC Roma, headed for Colombo from the port of Le Havre in northern France, is expected to dock at Vizhinjam port, according to sources. Meanwhile, the port company has not confirmed this. The ship, which is travelling at a speed of 18.3 knots, is expected to reach Colombo on July 26. The container ship, built in 2006, is sailing under the flag of Liberia. Her length overall (LOA) is 336.61 meters and her width is 45.63 meters.
The world’s largest motherships can dock at Vizhinjam, the country’s deepest trans-shipment hub Containers unloaded in Vizhinjam can be transported to other parts of the country on small feeder ships. Goods to other countries can also be unloaded here. With that, Vizhinjam will become a global transshipment hub. A port navigation centre running
on software developed by IIT Madras will control ships at Vizhinjam. The automatic navigation centre is modelled after air traffic control. It will ensure safe anchorage and port operations
FM provided enough fuel for India’s current growth ride : Ketan Kulkarni, Chief Growth Officer, Allcargo Group
MUMBAI: Finance Minister Nirmala Sitharaman, provided enough fuel for India’s current growth ride With the budget focussing specially on job creation and skilling, agriculture, infrastructure, research and technology, the ride should gain momentum Without changing the Capex allocation which was significant compared to the revised estimates, increased outlays in many sectors like infra
T h e G o v e r n m e n t h a s a l s o reiterated its determination to pull down the fiscal deficit in the coming years As every sector has something to cheer about in general, logistics also should gain from the overall growth trajectory The positive spurs makes the budget balanced, positive and forward-looking
MSME cluster initiative in budget is a game-changer : Uday
Sharma, Chief Commercial Officer, Allcargo
Gati Limited
MUMBAI: The budget's robust initiatives for the infrastructure, skill development and MSME sector are set to transform possibilities into realities
The Rs 26,000 crore investment in road connectivity projects, including key expansions like the PatnaPurnea expressway and new infrastructure such as the Bodhgaya-Rajgir-Vaishali-Darbhanga route, underscores a major step towards enhancing connectivity and faster transportation of goods.
The MSME cluster initiative announced in the budget is a game-changer for our sector By enhancing access to credit and promoting business growth, it acts as a catalyst for MSMEs, enabling them to expand
operations and thrive. This initiative will not only benefit MSMEs but also have a positive ripple effect on logistics partners like us, facilitating smoother operations and enhanced service delivery to meet growing business demands effectively
T h e e s t a b l i s h m e n t o f e-commerce hubs in PPP mode increases the volume and shipments from MSME Clusters and empowers traditional artisans to access global markets Further the plans for 24 new SIDBI branches serving MSME clusters, this budget reinforces support for inclusive growth
Union Budget 2024 marks a significant course for India's economic growth : Girish Aggarwal, MD – APM Terminals Pipavav
MUMBAI: "The Union
India's economic growth. At APM Terminals Pipavav, we commend Union Finance Minister Nirmala Sitharaman's strategic vision - particularly the emphasis on streamlining the logistics, boosting domestic manufacturing, and export promotion to catalyze India's global competitiveness.
The planned reforms in shipping and the critical mineral mission are poised to generate substantial employment opportunities and fortify India's position in international trade. Moreover, the establishment of innovative E-Commerce Export Hubs through
public-private partnerships, will revolutionize our export ecosystem by offering comprehensive services under one roof. We're especially encouraged by the increased focus on infrastructure spending and investment, which will undoubtedly stimulate economic activity across sectors and regions. These initiatives collectively pave the way for India to reach its ambitious $5 trillion economy goal
This budget provides a transformative step towards positioning India as a global economic powerhouse in the near future." said Girish Aggarwal, MD –APM Terminals Pipavav.
Budget underlines intent to strengthen human capital through employment, education and skilling : Indrani Chatterjee, Group Chief Human Resources Officer (Group CHRO), Allcargo
MUMBAI: The budget underlines the Government's intent to strengthen one of the key pillars of Viksit Bharat, the human capital through employment, education and skilling. Allocation of Rs 1.48 lakh crore for education and employment and skill paves the way for optimising the human capital and leveraging demographic dividend. The introduction of wage subsidies for the businesses recruiting employees for the first time is a welcome move that promises to invigorate our employment landscape.
Moreover, the provision of education loans with interest subvention schemes stands will build a strong future talent pipeline Announcement of Rs 3 trillion for programmes supporting women and girls in terms of setting up w o r k i n g w o m e n h o s t e
crèches is a welcome and timely
and economic progress.
Mr. Uday Sharma
Mr. Ketan Kulkarni
Ms.IndraniChatterjee
Mr.GirishAggarwal
10/0811/08
TBATBA RC Ocean 040 MBK Line MBK Logistics Jeddah, Kumport (India Med Service) MAS Diamond Marine TO
NBCL Axis Shpg. Felixstowe, Rotterdam, Hamburg, Antwerp & All Inland Desti. Dronagiri-1 Service
ICC Line Neptune Felixstowe, Hamburg,Rotterdam & other Inland Dest. GDL-3 & Dron-3 GLS Global Log. U.K., North Continent & Scandinavian Ports. JWR
Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genoa. Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware
TO LOAD FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from GTI
25/0726/07 Dalian Express 4329W Q0854 300810-08/07 Hapag ISS Shpg. Suez, Port Said, La Spezia, Genoa. Fos, Barcelona, ULA CFS 31/0701/08
TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS
In Port 25/07 MSC Ruby IP429A Q0866 1096406-09/07 MSC MSC
Miami, Coronel, Guayaquil, Cartagena,
25/07 1800 MSC Chiara X IP430A Q0913 1096845-15/07 Indial Indial Shpg. San Antonio,Arica,Buenaventura,Callao,La Guaira,Paita,
Terminals
02/0803/08 02/08 0900 MSC Roma IP431A Q0985 1097528-23/07 Puerto Cabello, Puerto Angamos, Iquique Santiago De Cuba, Mariel 09/0810/08 09/08 0900 MSC Branka IP432A Globelink Globelink WW USA,Canada,Atlantic & Pacific,South American & West Indies Ports. (EPIC / IPAK) AMI Intl. AMI Global South American Ports Via Antwerp (Only LCL). Dronagiri-3 Safewater Safewater Line US East Coast, South & Central America 25/0726/07 MSC Rikku IU429A Q0916 1096855-15/07 MSC MSC Agency New York, Charleston, Huston, Freeport. Hind Terminals
01/0802/08 31/07 1000 MSC Silvana IU430A Q0976 1097431-22/07 Kotak Global Kotak Global US East, West & Gulf Coast (INDUS)
28/0729/07 27/07 2300 APL Qingdao OINGWE1 Q0860 300828-08/07 CMA CGM CMA CGM Ag. New York, Norfolk, Charleston, Savannah & Dron.-3 & Mul. 28/0729/07 29/07 0600 Seaspan Ganges 4130 Q0879 300980-10/07 OOCL OOCL(I) Other US East Coast Ports. Dronagiri-2 04/0805/08 TBATBA Athenian 4131 Q0951 301495-18/07 Hapag ISS Shpg. ULA CFS (INDAMEX)
ONE Line ONE (India) India America Express (INDAMEX)
COSCO COSCO Shpg.
Indial Indial Shpg. US East Coast & South America
ICC Line Neptune New York,Norfolk,Charleston,Miami,Baltimore,Houston & Other Ports. GDL/Dron.-3 Team Lines Team Global Log. Norfolk, Charleston. Conex Terminal Pegasus Maritime Noble Shipping US East Coast & West Coast Dronagiri-1 Kotak Global Kotak Global US East, West & Gulf Coast
13/0814/08 13/08 1100 MSC Altair IS430A Q0962 1097282-20/07 MSC MSC Agency Baltimore,Boston,Philadelphia,Miami,Arica,Buenaventura, Hind Terminals 17/0818/08 17/08 1100 MSC Renee IS431A Callao, La Guaira, Paita, Puerto Cabello, Puerto Angamos, Iquique, 19/0820/08 19/08 1100 MSC Danit IS432A Valparaiso,Cartagena,Coronel,San Antonio,Santiago De Cuba,Mariel (Himalaya Express) Globelink Globelink WW USA, East & West Coast. (Himalaya Express)
TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS
from GTI
25/0726/07 Dalian Express 4329W Q0854 300810-08/07 CMA CGM CMA CGM Ag. New York, Norfolk, Savannah, Miami, Santos, Dron.-3 & Mul. 31/0701/08 TBATBA APL Phoenix 0MXK1W1 Q0943 301433-17/07 ANL CMA CGM Ag. Itajai & other North American Ports. Dron.-3 &
07/0808/08 TBATBA Belita 0MXK3W1 COSCO COSCO Shpg. Hapag ISS Shpg. ULA CFS Pegasus Maritime Noble Shipping US East Coast & West Coast Dronagiri-1 India Sub Cont. Med. Express (IMEX)
27/0728/07 27/07 0600 OOCL Hamburg 151E Q0886 301025-23/07 OOCL OOCL(I) USA East Coast & Other Inland Destinations. GDL 01/0802/08 TBATBA OOCL Luxembourg 111E Q0993 1097555-23/07 RCL RCL Ag USA East Coast & Other Inland Destinations. 20/0821/08 TBATBA Stratford 131E COSCO COSCO Shpg. US West Coast.
24/0825/08 TBATBA Xin Da Yang Zhou 095E Yang Ming Yang Ming(I) US West Coast. China India Express III - (CIX-3) Contl.War.Corpn.
27/0828/08 TBATBA Pusan 33E ICC Line Neptune US East, West Coast, Canada, South & Central American Ports. GDL-3 & Dron-3 27/0728/07 27/07 1700 MOL Presence 015E Q0915 301366-16/07 ONE Line ONE (India) USA, East & West Coast, USA, South & Central America 07/0808/08 TBATBA Dimitris Y 246E &
TBATBA Seattle Bridge 091E ONE Line ONE (India) Colombo. (CISC Service) 20/0821/08 TBATBA Ever Sigma 128E CSC Seahorse Colombo. TO LOAD FOR INDIAN SUB CONTINENT from NSIGT
In Port 25/07 Wan Hai 515 E092 Q0841 300668-05/07 Wan Hai Wan Hai Lines Colombo. (CI2)
Hind Terminals
27/0728/07 27/07 0600 OOCL Hamburg 151E Q0886 301025-23/07 OOCL OOCL (I) Colombo. GDL 01/0802/08 TBATBA OOCL Luxembourg 111E Q0993 1097555-23/07 Star Line Asia Seahorse Yangoon.(CIX-3)
Dronagiri-3 27/0728/07 27/07 1700 MOL Presence 015E Q0915 301366-16/07 ONE Line ONE (India) Colombo. 07/0808/08 TBATBA Dimitris Y 246E X-Press Feeders Sea Consortium Colombo. (TIP Service) Dronagiri 17/0818/08
TBATBA One Reliability 006E CSC Seahorse Colombo. 18/0819/08 TBATBA Cap Andreas 013E HMM HMM Shpg. Colombo. Seabird CFS
30/0731/07 30/07 0600 Conti Conquest 028E Q0918 301256-15/07 ONE Line ONE (India) Colombo. 03/0804/08
TBATBA Conti Crystal 137E Q0996 Yang Ming Yang Ming(I)
Contl.War.Corpn. 15/0816/08 TBATBA One Competence 091E Hapag/CSC ISS Shpg/Seahorse ULA CFS/ (PS3 Service) HMM HMM Shpg. Seabird CFS TO LOAD FOR INDIAN SUB CONTINENT from BMCT
29/0730/07
TBATBA Zhong Gu Nan Ning 2404E Q0868 300934-09/07 ONE/KMTC ONE(I)/KMTC(I) Karachi, Colombo
ANL CMA CGM Ag. Port Kelang, Singapore Dron.-3 & Mul. TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2
ONE Line ONE (India)
Port Kelang, Singapore, Laem Chabang, 07/0808/08
TBATBA Dimitris Y 246E
X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang. 17/0818/08
TBATBA One Reliability 006E
Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri 18/0819/08
TBATBA Cap Andreas 013E
RCL RCL Ag. Port Kelang, Singapore, Laem Chabang. (TIP Service)
HMM HMM Shpg. Port Kelang(N), Port Kelang(W), Singapore. Seabird CFS
29/0730/07 29/07 0500 CCNI Angol 430E Q0887 301026-10/07 Maersk Line Maersk India Port Kelang, Tanjung Pelepas, Singapore, Hongkong, Maersk CFS 30/0731/07
TBATBA X-Press Carina 432E Sinokor/Heung A Sinokor India Port Kelang, Singapore, Qingdao, Xingang, Pusan Seabird CFS
TBATBA Ital Unica 177E Q0847 1096185-06/07 Wan Hai Wan Hai Lines Port Kelang, Singapore, Kaohsiung, Hongkong, Shekou. Dronagiri-1 30/0731/07
TBATBA Wan Hai 521 E025 Q0924 301310-15/07 Evergreen Evergreen Shpg. BalmerLaw.CFSDron. 06/0807/08 TBATBA Argolikos E163 Hapag/RCL ISS Shpg./RCL Ag. (CIX) ULA-CFS/ 13/0814/08
TBATBA Wan Hai 502 E125 TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2 30/0731/07 30/07 0600 Conti Conquest 028E Q0918 301256-15/07 ONE Line ONE (India) Port Kelang, Singapore, Leme Chabang, Kaimep, 03/0804/08
TBATBA Conti Crystal 137E Q0996 Yang Ming Yang Ming(I) Shanghai, Ningbo, Shekou. Contl.War.Corpn. 15/0816/08
TBATBA One Competence 091E
HMM HMM Shpg. Seabird CFS (PS3 Service)
Samudera Samudera Shpg. Dronagiri Gold Star Star Ship Port Kelang, Singapore, Hong Kong, Ningbo, Shanghai Ocean Gate
TO LOAD FOR FAR EAST, CHINA & JAPAN PORTS from BMCT
In Port 25/07 Al Rumeila 2414W Q0898 301124-12/07 QNL/Milaha PoseidonShpg. Shanghai, Ningbo, Shekou. Speedy CFS (GIX)
In Port 25/07 KMTC Yokohama E2406 Q0827 300541-03/07 Wan Hai Wan Hai Lines Port Kelang, Jakarta, Surabaya Dronagiri-1 31/0701/08
TBATBA Wan Hai 309 023 Q0926 301308-15/07 KMTC/Interasia KMTC(I)/Interasia Port Kelang, Jakarta, Surabaya (AIS5/SI8 Service) Dronagiri-3/—
TS Lines TS Lines (I) Australian Ports. Dronagiri-2
Austral Asia MCS (I) Port Lae, Port Moresbay, Madang, Kavieng, Rabaul, Honiara Dronagiri-3 (CIX-3) Team Lines Team Global Log. Australia & New Zealand Ports. Conex Terminal
GlobelinkGlobelink West & South African Ports. Safewater Safewater Lines East, South & West African Ports (EPIC / IPAK)
25/0726/07 MSC Rikku IU429A Q0916 1096855-15/07 MSC MSC Agency San Pedro, Monrovia, Dakar, Freetown, Alger, Annaba, Bejaia, Oran, Hind Terminals
01/0802/08 31/07 1000 MSC Silvana IU430A Q0976 1097431-22/07 Casablanca, Nouakchott, Nouadhibou, Cotonou,Tincan/Apapa (INDUS) 29/0730/07 28/07 TBA MSC Monica III IB428A Q0789 1095739-01/07 MSC MSC Agency Port Louis, Durban. (ILANGA EXPRESS) Hind Termina 13/0814/08 13/08 1100 MSC Altair IS430A Q0962 1097282-20/07 MSC MSC Agency Tema, Abidjan, Khoms, Tripoli, Misurata, Tunis Hind Terminals 17/0818/08 17/08 1100 MSC Renee IS431A Team Global Team Global Log. East, West & South African
JAIGARH PORT LIMITED
VESSEL
Govt announces 12 industrial parks around 100 cities
NEW DELHI : The Government announced the development of 'plug and play' industrial parks in or near 100 cities in partnership with states and the private sector to boost manufacturing.
Finance Minister Nirmala Sitharaman said these parks will be developed using town planning schemes in a better way. "Our Government will facilitate development of investment-ready 'plug and play' industrial parks with complete infrastructure in or near 100 cities, in partnership with the states and private sector," she said. Generally in such parks, the government creates trunk infrastructure and provides the land to industry
It helps in facilitating investments into the country by providing quality, reliable, sustainable and resilient
infrastructure for the industries.
Commenting on the announcement, Commerce and Industry Minister Piyush Goyal said 12 such parks would be developed. "People are saying it is only Bihar and Andhra Pradesh. There are 12 industrial parks. They are all over the country. Very often, you announce only one or two as an example but the details will come in due course. I will go to the Cabinet for these 12 industrial parks," Goyal told reporters here.
The finance minister also said that to enhance 'Ease of Doing Business', the Government is working on the Jan Vishwas Bill 2.0.
"
implementation of their Business Reforms Action Plans and digitalisation," she said
New UK Foreign Secretary arrives in Delhi on 1st visit, free trade deal in focus
NEW DELHI: UK Foreign Secretary David Lammy has arrived in New Delhi for a two-day visit to India in the first high-level discussion between the two sides after Keir Starmer's Labour government came to power in the general elections.
"War m welcome to UK Foreign Secretar y David Lammy as he arrives in New Delhi on his first official visit since the assumption of office. The visit will strengthen the Comprehensive Strategic Partnership between the two countries and will make the 'living bridge' between India and the UK stronger," the External Affairs Ministry tweeted
During David Lammy's visit, he will highlight the importance of the new partnership with India with a focus on economic, domestic and global security
The long-pending India-UK Free Trade Agreement (FTA) will feature in the talks between David Lammy and External Affairs Minister S Jaishankar
"India is the emerging superpower of the 21st century,
the largest country in the world with 1.4 billion people and one of the fastest growing economies in the world. Our Free Trade Agreement negotiations are the floor, not the ceiling of our ambitions to unlock our shared potential and deliver growth, from Bengaluru to Birmingham. We have shared interests in the green transition, new technologies, economicsecurityandglobalsecurity," David Lammy said
DBGT enters 4 Million TEUs club
TUTICORIN: DBGT is pleased to inform that it has achieved a remarkable milestone of handling 4 million TEUs recently.
“ T h i s a c h i e v e m e n t i s a testament to the hard work, dedication, and collaboration of our entire Team, Trade partners, and valued customers, informs a recent communique.
Moreover, “DBGT proudly marks a milestone by handling 3,000th vessel on 18 Jun 2024.”
Budget creates long-term roadmap in pursuit of making India, Viksit Bharat: Ashwani Kumar, President, FIEO
NEW DELHI: Hailing the Union Budget, Mr Ashwani Kumar, President, FIEO said that the budget has focused on growth potential of the Indian economy by focusing on farmers, poor, youth and woman It has also created a long-term roadmap in pursuit of not only keeping the country as the fastest growing economy but also developing it as Viksit Bharat Mr Ashwani Kumar said that the Budget theme of employment, skilling, MSMEs and middle class will further give boost to manufacturing and exports besides attempting imports substitution.
FIEO President said that priority to productivity and resilience in a g r i c u l t u r e b y t r a n s f o r m i n g agricultural research is the key to further giving boost to the sector Natural farming along with Shrimp production & export and digital public infrastructure will help in fasttracking growth of rural economy and g e n e r a t i o n o f e m p l o y m e n t opportunities on a large-scale with a budget provision of 1.52 lakh crore for agriculture and allied sector. Scheme for Job Creation in manufacturing will a l s o i n c e n t i v i z e a d d i t i o n a l employment in the manufacturing sector, thereby giving boost to exports, said Mr Kumar
The budget also provides special a t t e n t i o n t o M S M E s a n d manufacturing, particularly labouri n t e n s i v e m a n u f a c t u r i n g b y formulating a package covering financing, regulatory changes and technology support for MSMEs to help them grow and also compete globally Besides, Credit Guarantee Scheme for MSMEs in the manufacturing sector and specially during stress period is yet another initiative announced in the Budget that will help the trade and industry in a big way to come out situation and challenges like Covid-19
pandemic, added FIEO President. Further to facilitate MSMEs to unlock their working capital by converting their trade receivables into cash, proposal to reduce the turnover threshold of buyers for mandatory onboarding on the TReDS platform from 500 crore to 250 crore is a welcome step Besides, financial support for setting up of 50 multiproduct food irradiation units in the MSMEsectorandsettingupof100 food quality and safety testing labs with NABL accreditation is a boon for the businesses,saidMrAshwaniKumar
FIEO Chief reiterated that setting up of E-Commerce Export Hubs under PPP mode will enable MSMEs and traditional artisans to sell their products in international markets and promote trade and export related services under one roof. This will also further help in promoting the Districts as Export Hubs and One District One Product schemes of the government thereby promoting GI products and handicraft goods, showcasing such products for the benefit of artisans, craftsman and farmers increasing their income many folds.
FIEO Chief also said that the proposal for ownership, leasing and flagging reforms, which will be implemented to improve the share of the Indian shipping industry and will generate more employment, is also a
consultation. Purvodaya, for the allround development of the eastern region of the country including Bihar, Jharkhand, West Bengal, Odisha and Andhra Pradesh, which will cover human resource development, infrastructure and generation of economic opportunities will make the region an engine of growth to
attain Viksit Bharat goal.
Mr Ashwani Kumar also said that one of the key announcements in the Budget has been a roadmap for moving the ‘hard to abate’ industries from ‘energy efficiency’ targets to ‘emission targets’ to be formulated s o o n f o r w h i c h a p p r o p r i a t e regulations for transition of these i n d u s t r i e s f r o m t h e c u r r e n t ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode will be put in place An investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic and financial support for shifting them to c l e a n e r f o r m s o f e n e r g y a n d implementation of energy efficiency measures will also be replicated in another 100 clusters in the next phase, thereby making them future ready to tackle CBAM and other environmental norms as proposed by developed world.
FIEO Chief also added that to enhance the competitiveness of exports in the leather and textile sectors, reduction in BCD on real down filling material from duck or goose and making additions to the list of exempted goods for manufacture of leather and textile gar ments, footwear and other leather articles along with simplification and rationalisation of export duty structure on raw hides, skins and leather is another booster for the e x p o r t s s e c t o r d u r i n g s u c h challenging times.
FIEO President further reiterated that the announcements made in the Budget will soon enable our country to be become the third largest economy and will play a key catalyst role in making India, ‘Viksit Bharat’ in times to come ensuring inclusive growth, benefiting every segment of society
Record allocation of Rs. 2,62,200 Crore as Capex for FY 2024-25 for Railways in General Budget
NEW DELHI: Union Minister for R a i l w a y s , I n f o r m a t i o n a n d Broadcasting, electronic & IT, Shri Ashwini Vaishnaw has said that economy is much resilient today and is on a strong footing than in the past. The economy today is a combination of welfare, fiscal prudence, capital investment and investment in manufacturing, he said, adding that the budget presented today by the Finance Minister is a continuation of the economic policies of Prime Minister Shri Narendra Modi focused on inclusive growth that have been the mainstay of this Government in the last ten years
He further said that government has placed a special emphasis on making the Railways world-class Union Minister for Finance and Corporate Affairs Smt. Nirmala
S i t h a r a m a n p r e s e n t e d t h e Union Budget 2024-25 in Parliament today For this FY 2024-25, the government has allocated record Capex to Rs. 2,62,200 Crores for Railways The Gross Budgetary support is Rs 2,52,200 Crores for Railways during 2024-25.
Earlier, the Gross Budgetary Support to Rs. 2,40,200 cr in 2023-24
which was only Rs. 28,174 cr in 201314.The result of infusion of Capex is clearly visible as IR has achieved an all-time high freight loading of 1588 MT in FY 2023-24 up from 1095 MT in 2014-15 and Railway is inching towards the goal of 3,000 MT by 2030. Railways achieved all time high total receipts of Rs. 2,56,093 cr. in 2023-24 and generated a Net Revenue of Rs. 3,260 cr to supplement Capex.
Addressing a press conference later in the day, Shri Ashwini Vaishnaw said, “I thank Hon’ble Prime Minister Shri Narendra Modi and Finance Minister Smt. Nirmala Sitharaman for record allocation of
activities in Railways. In third term of this government, Railways has continued to get a boost.”
Railwayshavealsoachievedseveral milestones in Infrastructure In past 10 years, Railways commissioned 31,180 track kms. The pace of track laying increased from 4 km per day in 2014-15 to 14 54 km per day in 2023-24 During 2014-2024, IR has electrified 41,655 Route Kms (RKMs) as compared to only21,413RouteKmstill2014
In this year's budget, additional funds have been allocated to promote industrial development. These funds w
infrastructure needed to develop industrial clusters at strategic nodes: Kopparthy on the VishakhapatnamC
Bengaluru Industrial Corridor in Andhra Pradesh, and Gaya on the Amritsar-Kolkata Industrial Corridor in Bihar. This initiative aims to catalyze industrial growth in the eastern region of India
Railways have adopted a new
development. Three Economic Railway Corridors- Energy, Mineral and Cement corridors (192 Projects); P
(42 Projects) and High Traffic Density corridors (200 Projects) have been identified under the PM Gati Shakti Mission for enabling Multi-Modal connectivity. Capacity enhancement, d
networks, achieving reduction in l
enhancing Passenger experience and their Safety remains the priority areas for the Government.
GE Shipping inks deal to sell 2005-built medium range product tanker ‘Jag Pranav’
M U M B A I : G r e a t E a s t e r n Shipping Company said that it has entered into a contract to sell its 2005 built Medium Range Product Tanker, J a g P r a n a v o f a b o u t 5 1 , 3 8 3 deadweight tonnage (dwt) to an unaffiliated third party
The vessel will be delivered to the new buyer by Q2/Q3 FY25. IncludingJagPranav,thecompanys
current fleet stands at 43 vessels, comprising29tankers(6crudecarriers, 19 product tankers, 4 LPG carrier) and 14 dry bulk carriers (2 Capesize, 8 Kamsarmax, 4 Supramax) aggregating 3 41milliondwt
“Additionally, we had contracted to sell one MR product tanker in May 2024 and buy one MR product tanker in June 2024, which are due for
deliveries in Q2 FY25, the company said in a statement.
Great Eastern (GE) Shipping Company is India’s largest private sector shipping service provider The company operates in two main businesses: dry bulk carriers and tankers.
currently trade at Rs 1320 on the BSE.
Red Sea crisis reaches peak impact on Box Ships : Linerlytica
LONDON: Almost all of the services from the top 10 container lines have diverted via the Cape of Good Hope and escalation of Houthi attacks would have little impact according analyst Linerlytica.
Of the leading container ship operators only CMA CGM has continued to transit Suez, with an 11-ship service, of between 9,000 and 11,000 TEU, all of which are operated by CMA CGM with its Ocean Alliance
Evergreen taking slots on the service.
“Any further escalation of the Red Sea crisis would have a limited impact on the container markets as only 14% of the ships currently deployed on the Asia- Europe trade are using the Suez Canal,” said Linerlytica. Breaking that down the analyst that in terms of the overall capacity these vessels comprise only 4% of the total 7 48 million TEU deployedontheseservices.
According to Linerlytica only 72 of the 513 ships currently operating on Asia-Europe trades are still using the Suez Canal, and they are mainly smaller operators based in China, Russia, Singapore, Turkey and UAE. The analyst said that increased tensions in the region, after Yemen attacked Tel Aviv with drones and Israel’s retaliation at Hodeidah, has not altered containership movements in the Red Sea region.
India stuns China in Bangladesh, wins rights to operate Terminal of Mongla Port
NEW DELHI: In a major strategic victory over China, India has secured operational rights of a terminal of Bangladesh’s Mongla port in the Indian Ocean. As per experts, it will give a major boost to India’s maritime race to gain quasi-control of foreign ports, especially in its neighbourhood where China has sought to expand its influence. The details of the deal are not out yet It’s India’s third successful bid to run overseas ports in the last years, after Chabahar in Iran and Sittwe in Myanmar.
As per media reports, the terminal at the Mongla port will be managed by Indian Port Global Limited (IPGL).
The Indian Ocean region is key to fulfilling the objectives of China’s Maritime Silk Road initiative.
From Gwadar in Pakistan to Djibouti in EastAfrica,Chinahasmadesubstantial investments in ports, a sector where India still remains a lightweight Fo r i n s t a n c e , n o n e o f t h e Indian ports feature in the World’s top 10 ports based on container traffic.
On the other hand, China has six ports on the list.
According to C Uday Bhaskar, director of the Delhi-based think tank Society for Policy Studies, even development regarding to Chabahar and Sittwe ports has remained unimpressive over the years due to geopolitical and security factors.
“ T h e p r o g r e s s [ b y I n d i a n companies] in Iran and Myanmar has been uneven due to other geopolitical factors, and hopefully Mongla will
allow for speedy execution of the agreement ,” he was quoted as saying by South China Morning Post.
China’s influence in Indian Ocean
As of now, China is actively involved in at least 17 Indian Ocean ports, out of which it’s directly involved in the construction of 13 ports.
Now, India is hoping to boost its influence over key maritime locations on the western and eastern sides of the Indian Ocean and reinforce its role in regional security. “Building and managing ports is a form of ‘port diplomacy’ – a refurbished national power tool – which is acquiring strategic significance and China has pursued th
success,” Bhaskar said.
FDI from China may benet India in short-term but not in long run: GTRI
NEW DELHI: Increasing foreign direct investment (FDI) from China in the domestic market may benefit in t h e s h o r t - t e r m b u t i t r i s k s undermining India's long-term economic security and strategic a u t o n o m y. T h e G l o b a l Tr a d e Research Initiative (GTRI) said that dependence on Chinese firms for key manufacturing capabilities could also expose India to supply chain vulnerabilities and geopolitical risks.
Chinese firms investing in India may prioritise their own supply chain efficiencies, potentially sidelining local industries and reducing opportunities for home-grown companies to thrive, GTRI Founder Ajay Srivastava.
Additionally, he said, there is a risk that the employment generated might not meet expectations if Chinese firms bring in their own
managerial and technical staff, limiting the benefits to the local workforce.
He said it is crucial for India to develop policies that genuinely support local industry and create m e a n i n g f u l e m p l o y m e n t opportunities for its population.
" W h i l e C h i n e s e c o m p a n i e s investing in India and exporting to Wester n markets might seem beneficial in the short term, it risks undermining India's long-term economic security and strategic autonomy," it added.
It also said that China is already the largest import supplier for India in each of the eight industrial product categories.
“Allowing Chinese fir ms to 'Make in India' risks overwhelming domestic industries, potentially leading to the closure of many Indian
businesses," Srivastava said, adding that this could transform India from a manufacturing hub into merely a trading nation, dependent on Chinese firms for critical supplies and economic growth.
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking FDI from Beijing to boost local manufacturing and tap the export market.
The GTRI further mentioned an interesting point in the Economic Survey 2024, Japan is mentioned 20 times, Australia 32 times, Russia 25 times, the United Kingdom 9 times, Europe 44 times, and the US 107 times.
"The country that finds most mentions is China, with 132 mentions. And if one counts the term "Chinese", the tally will reach 156," it said
Global Trade activity Stabilizing amid signs of Two-Speed Recovery : Tradeshift
SINGAPORE: Tradeshift’s Q2 Index of Global Trade Health reveals that the recent recovery in global trade activity is beginning to level off, with notable disparities emerging between regions While trade activity in the US and China c o n t i n u e s t o b u i l d o n r e c e n t momentum, Europe is struggling to keep pace, and the UK is showing ongoing weakness.
To t a l t r a n s a c t i o n v o l u m e s between buyers and suppliers on the
Tradeshift network remained flat compared to the previous quarter, with growth still three points below the anticipated level in Q2 Order volume growth dipped six points below the expected level, having p e a k e d a t f i v e p o i n t s a b o v e expectations at the end of 2023.
“Order volumes have been climbing rapidly over the last six months, but we’re now seeing the rate of acceleration begin to cool,” said James Stirk, CEO at Tradeshift. “This
may well be the first indication that global trade’s recent resurgence is beginning to find its level, which may not necessarily be a negative.”
“We’re already seeing evidence of supply chains struggling to keep pace w i t h h i g h e r d e m a n d . A m o r e measured growth rate can provide suppliers with the breathing space needed to adapt and stabilize, reducing the risk of bottlenecks and disruptions that have plagued the industry in the recent past.”
SHIPPING MOVEMENTS AT GUJARAT PORTS DEENDAYAL PORT
VESSELS IN PORT & DUE FOR EXPORT
26/07 Bow Clipper GAC Shpg.
Cargo Steamer's Agent's ETD
Jetty Name Name
CJ-I SW South Wind Synergy Seaport 27/07
CJ-II Della Synergy Seaport 28/07
CJ-III Sweet Lady III BS Shpg. 29/07
CJ-IV Global Unity Cross Trade 27/07
CJ-V Cariboo Synergy Seaport 31/07
CJ-VI Century Eagle Oceean Harmony 27/07
CJ-VII Propel Grace Cross Trade 03/08
CJ-VIII VACANT
CJ-IX Kouros Glory Dariya Shpg. 27/07
CJ-X Carina Benline 27/07
CJ-XI VACANT
CJ-XII VACANT
CJ-XIII Jin Ji Chowgule S. 28/07
CJ-XIV Asi M Chowgule S. 27/07
CJ-XV Mercurius Arnav Shpg. 31/07
CJ-XVA Woohyun Hope Jeel Kandla 26/07
CJ-XVI Gramba Synergy Seaport 27/07
TUNA VESSEL'S NAME AGENT'S NAME ETD Flag Seaman Taurus 26/07
CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE
ADANI MUNDRA CONTAINER TERMINAL (AMCT)
Interasia KMTC (I) / Interasia 28/07 28/07-AM Wan Hai 625 13E 2402639 Wan Hai Line Wan Hai Lines Port Kleang (W), Hong Kong, Qingdao, Kwangyang, Pusan, 29/07 COSCO/Evergreen COSCO / Evergreen Ningbo, Shekou, Singapore, Shanghai (PMX)
2404E
Zhong Gu Nan
Feeder OneIndia / SC-SPL Port Kelang, HongKong, Shanghai, Ningbo, Shekou. (CWX) 02/08 KMTC /TS Line KMTC India/TS Line (I) Port Kelang, Hongkong, Sanghai, Ningbo. (CWX) 03/08 03/08-AM Zoi 115E 2402545
ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)
TO LOAD FOR WEST ASIA GULF PORT
TO LOAD FOR EAST, SOUTH & WEST AFRICAN PORTS
PIPAVAV PORT
26/07 25/07-1800 W Kithiria 429W 24240 Maersk Line Maersk India Algeciras
02/08 01/08-1800 Maersk Detroit 430W 42253
TO LOAD FOR FAR EAST, CHINA, JAPAN, AUSTRALIA, NEW ZEALAND AND PACIFIC ISLANDS
In Port —/— GSL Nicoletta 425E 24234 Maersk Line Maersk India Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 25/07 31/07 31/07-2000 CCNI Angol 430E 24241 X-Press Feeders Merchant Shpg. Ningbo, Tanjung Pelepas. (NWX) 01/08 02/08 02/08-2000 X-Press Odyssey 24031E 24246 Sinokor / Heung A Sinokor India Port kelang, Singapore, Qindao, Xingang, Pusan. 03/08
29/07 29/07-1500 Conti Conquest 028E 24250 ONE ONE (India) Port Kelang, Singapore, Haiphong, Cai Mep, Pusan, Shahghai, 30/07 05/08 05/08-1600 Conti Crystal 137E HMM / YML HMM(I) / YML(I) Ningbo, Shekou (PS3) 06/08
29/07 28/07-0600 OOCL Hamburg 151E 24245 COSCO / OOCL COSCO Shpg./OOCL(I) Port Kelang, Singapore, Hong Kong, Shanghai, Xiamen, Shekou. 30/07
04/08 04/08-0600 OOCL Luxmbourg 111E 24252 Gold Star / RCL Star Shpg/RCL Ag. (CIXA) 05/08 02/08 02/08-2000 Xin Beijing 146E 24249 COSCO COSCO Shpg. Singapor, Cai Mep, Hongkong, Shanghai, Ningbo, Shekou, 03/08 Nansha, Port Kelang (CI1)
02/08 02/08-0500 Dimitris Y 0246E24251 X-Press Feeders Merchant Shpg. Port Kelang, Singapore, Laem Chabang.
AFRICAN PORTS
26/07 25/07-1800 W Kithiria 429W 24240 Maersk Line Maersk India Salallah, Port Said, Djibouti, Jebel Ali, Port Qasim. (MECL) 27/07 30/07 30/07-0300 Seaspan Jakarta 430W 24247 Maersk/GFS Maersk India/GFS Jabel Ali, Dammam (SHAEX)
02/08 02/08-0300 SM Neyyar 429W 24248
TO LOAD FOR INDIAN SUB CONTINENT PORTS & COASTAL SERVICE
In Port —/— GSL Nicoletta 425E 24234 Maersk Line Maersk India Colombo. (NWX)
25/07 San Pedro (V-042W) COSCO/OOCL COSCO Shipping/OOCL (i)
(V-0427W)
01/08 Seaspan Jakarta (V-0430W)
Bhutan King, PM visit Adani’s 30 GW Renewable Energy site at Khavda & Mundra Port
KHAVDA: Bhutan King
Jigme Khesar Namgyel
Wa n g c h u c k a n d Pr i m e
Minister Dasho Tshering Tobgay recently visited the world’s largest Renewable Energy (RE) site at Khavda in Gujarat which is operated by the Adani Green Energy Limited (AGEL), the country’s largest and one of the world’s leading RE companies.
Later, they also visited the mega port at Mundra, the largest commercial port in India with state-of-the-art infrastructure run by the Adani Ports and Special Economic Zone Limited (APSEZ) the biggest commercial ports operator in India accounting for nearly one-fourth of the cargo movement in the country
“Immensely grateful to His Majesty King Jigme Khesar Namgyel Wangchuck of Bhutan and
Hon. @PMBhutan Dasho Tshering Tobgay for visiting Adani’s 30 GW Renewable Energy site at Khavda and Mundra Port,” Gautam Adani, Chairman of the Adani Group, posted on X.
“Deeply inspired by Bhutan’s vibrant spirit and steadfast commitment to eco-friendly initiatives. We are excited about doing our part to foster collaboration with the Land of the Thunder Dragon for a sustainable and greener future,” he added.
PIL upgrades its electronic Bill of Lading solution for customers
It is partnering WaveBL to provide a user-friendly eBL solu on that will significantly improve efficiency and produc vity for customers.
SINGAPORE: Pacific International Lines (PIL) is partnering with WaveBL, a leading provider of digital trade solutions, to provide a wider range of electronic Bill of Lading (eBL) solutions to its customers.
With a user-friendly interface, the proven eBL solution will significantly improve the ease, security, efficiency, and sustainability of PIL's trade documentation process It will provide a fuss-free experience for customers who will not be required to pre-register, making it a seamless transition to using eBL for shipments. A unique feature of the eBL allows the shipper to be on the platform without the consignee needing to be.
PIL has been embarking on a wide range of digitalisation initiatives focusing on the ease to do business, and joining the WaveBL Network reinforces its commitment to driving connectivity and efficiency across its global operations and enhancing customer satisfaction.
Lionel Chatelet, Chief Commercial Ofcer, PIL, said, "PIL’s digital initiatives are a means to support our customers and their needs as well improve efficiencies. We remain strongly committed to enhancing human interactions and relationships.
“PIL is pleased to partner with WaveBL to offer an advanced eBL solution to our customers to better streamline transactions, reduce costs, improve productivity and contribute to carbon footprint reduction for us and our customers. We are leveraging this partnership with WaveBL to upgrade our internal processes to make sure that the efforts made by our customers to switch to eBL will be translated into an immediate improvement to the way we are managing
their documents and their shipments. We hope that we, along with shipping lines, customers, eBL solution p r o v i d e r s , a n d f i n a n c i a l institutions, will be able to collectively convert more customers to eBL solutions.”
Noam Rosenberg, CEO of WaveBL added, "We are thrilled to welcome PIL to WaveBL's rapidly growing network as our fifth carrier business partner PIL's commitment to sustainability and digital innovation mirrors WaveBL's mission to revolutionize global trade through secure and efficient digital solutions. Together, we aim to drive connectivity and redefine industry standards."
PIL's integration into the WaveBL Network is a positive contribution towards advancing digitalisation within the global shipping industry It underscores the industry's evolution towards more efficient, secure, and sustainable trade practices.
An eBL makes document creation, approval, distribution and tracking easier, helping to cut costs while reducing potential fraud and eliminating the risk of paper documents being lost in transit. Committed to sustainability and digital transformation, PIL recently joined DCSA (Digital Container Shipping Association) to accelerate its digital ambitions and enhance operational efficiencies.
With a user-friendly interface, PIL’s electronic Bill of Lading solution will provide a fuss-free experience and seamless transition to using eBL for shipments for customers.
Global Freight Forwarding market to expand 1.7% in 2024 : Ti Report
Cont’d. from Pg. 2
The performance of the market can be attributed to the weakness in air freight forwarding, which shrank by 2.1% in 2023. However, sea freight forwarding has also had a less than desirable performance, contracting by 0 6% The global economic downturn is the main underlying reason for the disappointing results in the forwarding market.
Thomas Cullen, Chief Analyst at Ti, says: “The market for freight forwarding has reflected the volatility of the wider market for air and sea freight over the past four years For large freight forwarders especially, the years 2020-22 were a boom, with revenues increasing by half and profits doubling. However, 2023 saw results falling ‘backto-earth’ with profits and revenues falling as the markets returned to what might be called some sort of normality. However, the market remains complex with exceptional events, such as the effective obstruction of the Suez Canal exerting effects on the market that have specific effects on different types of providers. In particular the balance between non-asset-based service providers such as freight forwarders and asset owners such as airlines and shippinglineshasexperiencedsignificantinstability” Report highlights
• The global freight forwarding market contracted by 1.3% in real terms (holding prices and exchange rates constant) in 2023, bringing the market value to Rs. 192,730m.
• In nominal terms (holding exchange rates constant only), the global freight forwarding market
contracted by 45.6% in 2023. This significant drop can be attributed to reduced freight rates for air and sea compared to last year.
• The global forwarding market is expected to expand slightly in 2024 (1.7% in real terms).
• The Asia Pacific freight forwarding market experienced the third-largest market contraction compared to the other regions. However, it remains the largest region, accounting for 35% of the global freight forwarding market.
• Ti data shows that the total the global freight forwarding market will see a real CAGR of 3.3% over the five years to 2028
• Ti’s State of Logistics Air and Sea Freight Forwarding Survey 2024 reveals that 91 1% of freight forwarders are currently experiencing increased pressure on margins Rising competition and stronger negotiation by clients continue to be the main reasons for the increased pressure on margins. Targeting highermargin clients and offering more value-added services are likely to be the most successful strategies in pulling backerodingmarginsinthenext12months.
• The exceptional market conditions of the past two years are long gone, and the markets are on a new trajectory, leading to significant downturn in revenue and profits among freight forwarders in 2023 2023 saw results falling ‘back-to-earth’ with profits and revenues falling as the markets returned to what might be called some sort of normality All of the top 20 forwarders saw revenue declines in 2023
