MUM-26-02-2024

PSA Mumbai welcomes mv Maersk Chachai on its maiden call

PSA Mumbai is proud to

CHACHAI as it makes its maiden call at BMCT port on Thursday, 22nd Feb 2024 at 1300 hrs., informs a recent communique from PSA Mumbai. This marks the start of the highly anticipated MEWA service (Middle East West Africa Service), also known as MW2, connecting to the Middle East and West Africa.

Red Sea crisis: Indian traders on edge as exports worth $64 billion at risk, says FIEO survey

NEW DELHI: Indian exports have so far braved the Red Sea crisis with outbound shipments registering a 3.1 percent rise in January, offering consolation that the country may escape the worst of the ongoing tensions at sea, but traders remain on the edge.

PSA Mumbai welcomes mv Maersk Chachai on its maiden call

Milaha’s Board of Directors appoints Fahad Bin Saad Al-Qahtani as a new Group CEO

DOHA: Qatar Navigation Q.P.S.C. ("Milaha") announced the appointment of the Board of Directors of Mr. Fahad Bin Saad Al-Qahtani, as the new Group CEO, marking the inauguration of a new era for the company, which has witnessed and achieved unprecedented achievements during its successful journey Mr Al-Qahtani will assume his new position as the Group CEO after holding senior leadership positions in many institutions and sectors, local and international, among them are SLB (Schlumberger Oilfield Services previously), Qatar Fuel Additives Company (QAFAC), Qatar Foundation for Education, Science and Community Development (QF), and the most recent was the CEO of Mowasalat (Karwa) Through his experience, Mr Al-Qahtani attained developmental achievements and prestigious national projects that provided him with administrative insight and practical experience of more than twenty years in various fields.

Mr Al-Qahtani holds a bachelor’s degree in Engineering Management from the University of Hertfordshire, United Kingdom, and graduated from the Executive Leadership Program at the University of Oxford, United Kingdom.

On the occasion of the appointment of the new Group CEO, His Excellency Sheikh Jassim Bin Hamad Bin

, Chairman of Milaha’s Board of Directors, said: “We are pleased with the joining of Mr. Fahad Bin Saad AlQahtani as a Group CEO of Milaha c o m p a n y, w h i c h c a m e a s a culmination of the efforts and endeavours of the Board to continue the path to success achieved by the company and implement the highest strategies related to modernization of the business sector and shareholders.”

Meanwhile, Mr. Fahad Bin Saad Al-Qahtani said: “I am thankful and appreciative to the Chairman of the Board of Directors and esteemed Board members for their trust in me and for assigning me with this position ” He added: “It is of great honour for me to assume responsibility of such position in a prestigious company as Milaha, that specializes in providing the best maritime and logistic services not only in Qatar,butthroughouttheMiddleEastandtheworld.”

The Board of Directors expressed their thanks to Mr Mohammed Abdulla Swidan Al-Aqeedi for his constructive contributions to the successes achieved by the company during his term as Interim Group CEO

Reliance Industries becomes the first conglomerate to set up ship leasing firm at IFSC Gift city

GANDHINAGAR : Reliance Industries’ (RIL) arm is all set to establish a ship leasing entity at IFSC – GIFT City in Gujarat. The total investment and expenses will be to the tune of Rs. 22,033 crore. Reliance International Leasing IFSC has proposed to set up the leasing entity in GIFT IFSC.

The setting up of the shop is subject to the SEZ committee’s approval.

The proposal made to GIFT SEZ Authority is “for approvals to set up a ship leasing firm to carry on the business of Operating Lease of ships, vessels and voyage charters,” sources said.

“Reliance has approached International Financial Services Centres Authority (IFSCA )for approvals to set up a ship leasing firm to carry on the business of Operating Lease of ships, vessels and voyage charters,” a source said.

On the financial aspect, the information reviewed show that the, “Free on Board (FOB) value for the export of services for a five-year-period is projected at Rs. 10,780.41 crore (Rs. 2,156 crore per annum). The foreign exchange outgo is Rs. 10,397 crore, resulting in a Net Foreign Exchange (NFE) of Rs. 383 crore.”

“IFSC Authority has received application from Reliance International Leasing IFSC Ltd,” said Mr Dipesh Shah, E x e c u t i v e D i r e c t o r ( D e v e l o p m e n t ) , I F S C A . “We are seeing great interest from institutions to set up ship

leasing business from GIFT IFSC Currently, at IFSC, we have authorised seven entities and three in-principle approvals. Already three ships have been leased into India from IFSC,” he added. A total of 35 people will be employed with a NFE of Rs. 38,330 crore in five years.

Ship leasing is the latest addition to the gamut of activities permitted by the regulatory authority IFSC at GIFT city

Incidentally, Ripley Shipping India IFSC Private Ltd was the first company to lease a vessel from the GIFT City The company received a certificate of registration from IFSCA in March 2023 to operate in GIFT City MV Ripley Pride is a bulk carrier (Panamax) that was built in 2003 in Japan with a carrying capacity of about 76,858 deadweight tonne (DWT)

Earlier, Indian entities went to Dubai and Singapore to create a shipping venture, due to want of regulations and tax clarity in India. Setting up a ship leasing entity at GIFT city allows Indian entities to transact in foreign currency This is enabling Indian firms who shifted overseas due to regulations and taxes to come back to IFSC in India, thereby helping to onshore the offshore financial services.

Currently, only Indian flag ships are allowed in IFSC-GIFT city (like in the Domestic Tariff Area) because it comes under the Merchant Shipping Act, 1958.

NOTICE TO CONSIGNEES

The above vessel has arrived on 24-02-2024 at NHAVA SHEVA (NSICT) with import cargo to DURBAN. Please note the item Nos. against the B/L Nos. for NHAVA SHEVA (NSIGT) delivery.

NHAVA SHEVA

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

NBCL Axis Shpg. Felixstowe, Rotterdam, Hamburg, Antwerp & All Inland Desti. Dronagiri-1 Service

Allcargo Allcargo Log. U.K., North Cont., Scandinavian & Med. Ports. Dron. 2 & Mul.

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 01/0302/03 01/03 0900 MSC Lucy IP409A P2624 291835-20/02 MSC MSC Agency Antwerp, Le Havre, Rotterdam, Dunkirk, Felixstowe, Southampton, Hind Terminals 08/0309/03 08/03 0900 MSC Aby IP410A Helsingborg, Gothenburg & Red Sea, Med, Gioia Tauro (D). 15/0316/03 15/03 0900 MSC Shay IP411A

SCI CMT Southampton, Rotterdam, Antwerp, Dunkirk, Felixstowe, Le Havre (EPIC / IPAK)

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.

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 02/0303/03

TBATBA Niledutch Lion 4307W P2603 291684-17/02

CMA CGM CMA CGM Ag.(I) Hamburg, Antwerp, London Gateway, Cagliari, Jeddah, Tangier. Dron-3 & Mul

Seaspan Adonis 074E HMM HMM Shpg. Seabird CFS 02/0303/03 01/03 1200 OOCL Hamburg 148E P2545 291231-12/02 OOCL OOCL (I) Colombo. GDL 04/0305/03 TBATBA OOCLLuxembourg 108E P2630 291909-22/02 Star Line Asia Seahorse Yangoon. (CIX-3) Dronagiri-3 03/0304/03 TBATBA Clemens Schulte 030E P2613 291782-19/02 ONE Line ONE (India) Colombo. 10/0311/03 TBATBA Cap Andreas 009E X-Press Feeders Sea Consortium Colombo. (TIP Service) Dronagiri 17/0318/03 TBATBA San Francisco Bridge 070E CSC Seahorse Colombo. (TIP Service) HMM HMM Shpg. Colombo. Seabird CFS

LOAD FOR INDIAN SUB CONTINENT from BMCT

FOR FAR EAST, CHINA & JAPAN PORTS from NSFT

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

In

291801-20/02 PIL/ONE PIL India/One(I) —/— 18/0319/03 TBATBA Seattle Bridge 089E

Hapag ISS Shpg. P.Kelang, Singapore, Xiangang, Qingdao, Shanghai, Ningbo, Da Chan Bay. ULA CFS 25/0326/03

TBATBA Ever Sigma 125E

KMTC KMTC (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-3 01/0402/04

TBATBA Celsius Naples 901E

TS Lines TS Lines (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-2 08/0409/04

TBATBA TS Ningbo 24002E

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

Samudera Samudera Shpg. P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri

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

BSS Bhavani Shpg. Port Kelang, Singapore, Jakarta, Yangoon, Surabaya, Belawan, Ashte CFS 27/0228/02

28/0229/02

01/0302/03

08/0309/03

27/0328/03 TBATBA Ren Jian 23 2403E

Emirates Emirates Shpg.

Kelang, Qingdao, Shanghai, Ningbo, Shekou (IEX)

Sinokor Sinokor India Seabird CFS (CSC)

Cordelia Cordelia Cont. Port Kelang, Far East & China Ports

Blue Water PoseidonShpg. Shanghai, Ningbo, Qingdao. Speedy CFS 13/03 14/03

06/0307/03 TBATBA X-Press Odyssey 24010E P2594

291585-16/02

19/0320/03 TBATBA X-Press Cassiopeia 2401E

27/0229/02 TBATBA MOL Creation 091E P2552 291270-12/02

Line Maersk India Port Kelang, Tanjung Pelepas, Singapore, Hongkong, Maersk CFS

X-Press Feeders Sea Consortium Kwangyang, Pusan, Hakata, Shanghai. (NWX/FI-3)

Sinokor/Heung A Sinokor India Port Kelang, Singapore, Qingdao, Xingang, Pusan Seabird CFS

ONE Line ONE (India) Port Kelang, Singapore, Leme Chabang, Kaimep, 07/0308/03 TBATBA Conti Contessa 117E

14/0316/03 TBATBA YM Uniformity 071E

24/0325/03 TBATBA Seaspan Adonis 074E

Yang Ming Yang Ming(I) Shanghai, Ningbo, Shekou. Contl.War.Corpn.

HMM HMM Shpg. Seabird CFS

Samudera Samudera Shpg. Dronagiri (PS3 Service)

28/0229/02 27/02 1900 Wan Hai 507 E220 P2592 291574-16/02

Gold Star Star Ship Port Kelang, Singapore, Hong Kong, Ningbo, Shanghai Ocean Gate

Wan Hai Wan Hai Lines Port Kelang, Singapore, Kaohsiung, Hongkong, Shekou. Dronagiri-1

06/0307/03 TBATBA Ever Unity E197 P2612 291758-19/02 Evergreen Evergreen Shpg. BalmerLaw.CFSDron. 13/0314/03 TBATBA Wan Hai 521 E021

Hapag/RCL ISS Shpg./RCL Ag. ULA-CFS/ 20/0321/03 TBATBA Argolikos E159

TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2 (CIX)

02/0303/03 01/03 1200 OOCL Hamburg 148E P2545 291231-12/02 OOCL/RCL OOCL(I)/RCL Ag Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo, GDL/Dron-1 04/0305/03 TBATBA OOCLLuxembourg 108E P2630 291909-22/02 APL CMA CGM Ag. Dron.-3 & Mul.

18/0319/03 TBATBA Seamax Stratford 128E

25/0326/03 TBATBA OOCL Genoa 069E

ONE Line ONE (India) Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo.

COSCO COSCO Shpg. Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo. (CIX-3)

03/0304/03 TBATBA Clemens Schulte 030E P2613 291782-19/02

Gold Star Star Ship Singapore, Hong Kong, Shanghai.

ANL CMA CGM Ag. Port Kelang, Singapore (CIX-3) 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, 10/0311/03 TBATBA Cap Andreas 009E

17/0318/03

TBATBA San Francisco Bridge 070E

X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang.

Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri (TIP Service)

RCL RCL Ag. Port Kelang, Singapore, Laem Chabang.

HMM HMM Shpg. Port Kelang(N), Port Kelang(W), Singapore. Seabird CFS

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

13/0314/03 TBATBA Wan Hai 332 E006

19/0321/03 TBATBA Wan Hai 505 E173

Sinokor Sinokor India Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Seabird CFS

Heung A Line Sinokor India Hongkong

Wan Hai Wan Hai Lines Dron-1 & Mul CFS 26/0328/03 TBATBA Jeju Island E402

InterasiaInterasia (CI6)

Feedertech Feedertech/TSA Dronagiri

29/0201/03 29/02 0600 Ever Envoy 186E P2510 290952-07/02 ONE Line ONE (India) Port Kelang, Hongkong, Shanghai, Ningbo, Shekou 01/0302/03

TBATBA X-Press Pisces 24002E P2611 291760-19/02 X-Press Feeders SeaConsortium

15/0316/03 TBATBA One Matrix 017E

KMTC/TS Lines KMTC(I)/TS Lines(I)

Dron-3/Dron-2 23/0324/03

TBATBA X-Press Capella 24002E

Gold Star Star Ship (CWX/CIX5)

RCL/PIL RCL Ag./PIL India

Blue Water Poseidon Shpg. Shanghai, Ningbo, Qingdao. Speedy CFS 01/0303/03 TBATBA Xin Pu Dong 272E P2577 291531-15/02 KMTC KMTC (India) Port Kelang(W), Hongkong, Qingdao, Kwangyang, Dronagiri-3

09/0310/03 TBATBA KMTC Delhi 2401E P2625 291825-20/02 TS Lines TS Lines (I) Pusan, Ningbo, Shekou, Singapore. Dronagiri-2 14/0315/03

TBATBA ESL Nhava Sheva 2408E

COSCO COSCO Shpg. (AIS SERVICE)

Emirates Emirates Shpg. Port Kelang, Hongkong, Qingdao, Kwangyang, Pusan,Ningbo, Shekou, Singapore. Dronagiri-2

03/0304/03 02/03 1800 API Bhum 006E P2602 291700-19/02

07/0308/03

31/0301/04

03/0304/03

05/0306/03 TBATBA Hedwig Schulte 0MSIBW1 P2621 CMA CGM CMA CGM Ag. Cotonou (Direct), Port Elizabeth, Port Louis (MESAWA) Dron.-3 & Mul. 03/0304/03 TBATBA Kyparissia 410S P2554 291207-12/02 Maersk Line Maersk India Mombasa, Victoria. Maersk CFS 10/0311/03 TBATBA Maersk Cape Town 411S P2580 291456-14/02

The above vessel is arriving at BMCT on

Consignees are requested to obtain DELIVERY ORDERS on presentation of ORIGINAL BILLS of LADING and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS movement due to port congestion Line/Agent are not responsible for the same. Consignees will please note that the Carriers and/or their Agents are not bound to send Individual Notifications regarding the arrival of the vessel or the goods.

For detailed information on cargo availability please contact our office.

For any charges enquiries, Please contact on our Import Hotline No. : 4252 4444

Container Movement to : OCEAN GATE CONTAINER

NOTICE TO CONSIGNEES

The above

are expected has arrived at NSICT/BMCT on above

Consignees are requested to obtain the

dates with

duly discharged on payments of relative charges as applicable within 5 days or else detention charges will be applicable.

Consignees will please note that the carriers of their agents are not bound to send individual notification regarding arrival of the vessel or the goods. For detailed information on cargo availability, please contact our office.

*Note: The importers having AEO status and those who are availing DPD facility for containerized cargo are allowed to pay Terminal Handling Charges (THC) directly to Ports/Terminal through their P.D Accounts. Upon making THC payment importers are requested to submit proof of payment duly stamped and acknowledged by Port/Terminal to Avana Global FZCO for issuance of Delivery Order (DO) without Avana Global FZCO’s THC Invoice and Receipt. Visit our Website : www.avanalogistek.com for Import Vessel arrival & IGM details

PM Modi inaugurates various Green Waterway Initiatives in Varanasi, marks Milestone in Clean Energy and Tourism

VARANASI: Under the visionary leadership of the Prime Minister Shri Narendra Modi and the able guidance of Union Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, India achieved a new milestone in clean energy and responsible tourism. During an event in Varanasi in Uttar Pradesh, Prime Minister Shri Narendra Modi dedicated to the nation two hybrid electric catamaran vessels – MV Guh and MV Nishadraj- built by Cochin Shipyard Limited (CSL) through Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways (MoPSW).

MV Guh will sail on the River Saryu in Ayodhya, and MV Nishadraj on the River Ganga in Varanasi. These state-of-the-art vessels, with a seating capacity of 50 passengers each, are powered by fast-charging batteries and are designed to reduce carbon emissions by 400 MT annually These green vessels will promote religious tourism in the state Indigenously built by Cochin Shipyard Limited, they will now be operated by the Uttar Pradesh Government.

Along with this, Prime Minister Shri Narendra Modi inaugurated four community jetties on the ghats of Varanasi and laid the foundation stone for 13 community jetties along National Waterway 1 (NW 1) in Varanasi and National Waterway 110 in Mathura and Prayagraj in Uttar Pradesh.

The Jal Marg Vikas Project (JMVP) being implemented by the

Inland Waterways Authority of India aims to improve the navigability of the 1390 km stretch of NW1 from Varanasi in Uttar Pradesh to Haldia in West Bengal. Sixty community jetties are being developed under JMVP to i m p r o v e t h e s o c i o - e c o n o m i c condition of people living along NW1 (the Ganga-Bhagirathi-Hooghly river system) These community jetties aim to provide local farmers, traders, industries ease of access to nearby markets, thereby offering better o p p o r t u n i t i e s f o r t r a d e a n d employment, promoting tourism, and improving hinterland connectivity.

Besides this, a Quick Pontoon

O p e n i n g M e c h a n i s m S y s t e m (QPOMS) was also inaugurated.

MoPSW aims to boost the share of Inland Water Transport (IWT) to 5% by 2030 as part of the Maritime India

V i s i o n ( M I V ) , s i g n a l i n g a comprehensive effort towards fostering maritime sector growth and connectivity enhancement.

Under the Maritime Amrit Kaal Vision 2047, 46 initiatives have been outlined, with key measures aimed at enhancing the modal share of coastal shipping and inland water transport. These initiatives include the creation of port-based agglomeration centers a n d c o a s t a l b e r t h s n e a r production/demand centers along the coast. Additionally, there are plans for road, rail, and inland waterway connectivity and expansion projects, as well as efforts to reduce port dues and ter minal charges. Fiscal incentives, such as allowing input tax credit on bunker fuel and spares purchased from various states, along with the reduction of GST for multimodal transportation, are also p r o p o s e d . O p e r a t i o n a l i z i n g 50 waterways by 2047 and introducing low-draft vessel designs, possibly in c o m b i n a t i o n w i t h t u g - b a r g e configurations, are among the strategies aimed at furthering these goals.

Scrubber savings reach 13 billion USD : Sea-Intelligence

COPENHAGEN: To preface this for people who are not familiar with the IMO2020 regulations; these mandated the use of fuel oils with a sulphur content of less than 0.5%, such as Very Low Sulphur Fuel Oil (VLSFO), or an approved equivalent means of compliance such as exhaust gas cleaning systems i e , scrubbers

The latter then allows shipping lines to run fuels oils with a higher sulphur content (IFO380), which is also cheaper A n i n c r e a s e i n s c r u b b e r installations (which is what we are currently seeing) would mean an increasing share of vessels that are capable of the cost savings potential of buying cheaper regular fuel instead of the more expensive lowsulphur VLSFO For reference, the current price premium on VLSFO is 166 USD/ton. Using a model to roughly calculate the per day global fuel consumption across the entire sector, the shipping lines have so far

saved a cumulative 13 billion USD due to the use of scrubbers since the implementation of IMO2020.

This development is an indication that the shipping industry is indeed motivated by regulatory initiatives which costs them money. However, it also shows that the monetary motivation may not always lead to the o u t c o m e s o m e p r o p o n e n t s o f regulation believe Instead of switching to low sulphur fuel, it is more cost-effective to use regular fuel in combination with scr ubbers –a solution that is fully compliant with the regulations.

It then raises the question related to regulations targeted towards CO2 emission reductions. Financially motivated regulations are indeed coming into effect, such as the EU’s ETS carbon taxation on shipping. What remains to be seen, is to which degree the industry will find other ways to abide by the regulation in letter, but not necessarily in spirit.

India’s First Gati Shakti Research Chair established at IIM Shillong; Also signs MoU with MoPSW

Union Minister Shri Sarbananda Sonowal aends MoU signing ceremony between Ministry of Ports, Shipping & Waterways and IIM, Shillong

SHILLONG: The Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush, Shri Sarbananda Sonowal attended the Memorandum of Understanding (MoU) signing ceremony between the MoPSW and the Indian Institute of Management (IIM) to set up India’s first ‘Gati Shakti Research Chair’ here.

The Chair will spearhead high-quality academic research on multimodal logistics with a North-East focus: building knowledge on multimodal logistics development strategies and practice in the North-Eastern region, facilitate knowledge and innovation for logistical capacity building in the region. The chair also aims to foster collaboration with global experts in creating and developing knowledge & expertise while strengthening the links between the multimodal logistics research and capacity-building activities with key stakeholders such as the logistics industry, Government bodies, local authorities, and other partners and associations. The chair will also support the multimodal logistics research activities, capacity building and outputs to enable PM Gati Shakti Masterplan to power the East and North-East Region’s logistical capacity

Speaking on the occasion, Shri Sonowal said, “Today, I feel fortunate to be amongst all my young friends from the prestigious IIM. The aura of Yuva Shakti has energised our resolve to continuously move towards achieving the goal of a Viksit Bharat by the end of Amrit Kaal. The ensuing 25 years are your Kartavya Kaal to continue on the empowerment led development of India. With the establishment of this chair at your prestigious institute, the Northeast is poised to take lead in the research & development of multimodal logistics activities, capacity building and outputs. Students fraternity

will now have an opportunity to hone their skills and build their careers in the field of logistics.”

A Strategic Round Table was also organised to discuss the multimodal logistics development strategy for connecting the North Eastern Region (NER) to the wider national and international regions to strengthen the local economy at the Dr APJ Abdul Kalam Centre for Policy Research and Analysis Indian Institute of Management (IIM), Shillong. The meet attempted at strategising for the development of a collective NER logistics Policy in line with the National Logistic Mission as well as steps for the operationalisation and implementation of the policies related to multimodal logistics in the NER.

Speaking on the scope for logistics sector in the Northeast, the Minister said, “Under Narendra Modi ji, the Northeast region has experienced unprecedented growth and development with sustained peace. The region witnessed revolutionary infrastructural advancements, development in digital connectivity, prolific economic growth, and several other significant accomplishments. The Narendra Modi government has invested over Rs 14 lakh crores in infrastructure development and connectivity of the North east. Only through this commitment and intensive efforts has India’s northeast become front and Centre of New India’s growth story The newly inaugurated Gati Shakti Chair will act as a catalyst to realise the full potential to emerge as a vital logistics hub connecting South Asia with South-East and East Asia.”

Adding further, Shri Sonowal said, “Under the visionary leadership of Prime Minister Shri Narendra Modi, the inertia in the logistics industry, plagued by indecisiveness of previous government, got an overhaul as focussed approach was conceived and implemented to bring speed, efficiency and build economies of scale in logistics sector. Since 2014, a new Logistics Division was created, PM Gati Shakti National Master Plan for Multi-Modal connectivity was launched, a National Logistic Policy was announced, and a Unified Logistics Interface Platform was designed Under Modi ji, the central government’s annual capital expenditure on infrastructure projects such as roads, ports, railways, and airports has grown from less than Rs. 2 lakh crore to more than Rs. 11 lakh crore.Cargo handling capacity at our Ports has doubled, and two new mega green field Ports are in the pipeline With the mission of ‘Transformation via Transportation’, we are on a steady course to ranking in the top 25 in the Logistics Performance Index in the next five years ”

Red Sea crisis: Indian traders on edge as exports worth $64 billion at risk, says FIEO survey

Cont’d from Pg. 3

A survey by the Federation of Indian Export Organisations (FIEO), shows that Indian exports worth $64 billion could be impacted due to the Suez Canal crisis across a range of sectors, including plastic, rice and garments.

According to the FIEO analysis, around 14 percent of India’s total merchandise exports of $447.46 billion, as per FY23-levels, are suffering.

Since the outbreak of the IsraelHamas war in October, the Red Sea has been in the news for periodic attacks by Houthi rebels of Yemen on commercial vessels passing through the Suez Canal, a crucial choke point for global maritime commerce.

For April 2023-January 2024, India’s goods exports stood at $353.92 billion, down nearly 5 percent from the first 10 months of 2022-23. The Red Sea strait is crucial for 30 percent of global container traffic and 12 percent of global trade.

Red ags

The FIEO survey of 170 exporters from across India reveals that the impact of the ongoing crisis is widespread Some of the key merchandise exports that have been adversely affected include sesame oil, rice, coffee, coconuts, frozen buffalo meat, spices, pharmaceuticals, textiles and garments, leather f o o t w e a r a n d a c c e s s o r i e s , engineering goods and plastic packaging items.

The survey showed that the maritime tensions have impacted the flow of Indian goods to countries and blocs such as the UK, the USA, Europe, the Middle East and Africa, among others.

India uses the Red Sea route through the Suez Canal to trade with Europe, North America, North Africa and parts of the Middle East. According to Crisil Ratings, these regions accounted for around 50 percent of the South Asian nation’s exports worth Rs 18 lakh crore and a b o u t 3 0 p e r c e n t o f i m p o r t s amounting to Rs 17 lakh crore last fiscal.

Given that about 30-35 percent of the production of agricultural commodities like Basmati rice is shipped to these regions, exporters are feeling the pressure as rising freight costs have curbed outbound shipments and a part of their

inventory is now being sold in the domestic market, leading to a moderation in realisations, Crisil said in a note on January 25.

“The worst affected are certain food items or agricultural produce since it cannot survive the impact of being at sea for a longer duration,” an official from a trade advisory body said

This person added that the full impact of the Red Sea crisis is likely to be more visible in India’s export figures February onwards.

Uneven impact

However, some sectors are likely to remain unaffected by the delays and disruptions in the Red Sea.

While Basmati rice, grapes and leather exports are expected to be majorly impacted, India’s steel sector, wherein most of the demand is met through domestic supply, is likely to be unfazed.

“In the steel sector, which accounts for the largest pie in the metals sector, 95 percent of the demand is met through domestic supply. Hence, the Red Sea crisis will not have a major impact. Neither will there be much of an impact on the trade front since most imports are from East Asia,” Crisil said in its February 2024 research note.

Unlike FIEO, Crisil sees minimal impact on India’s textiles industry in the near term with about threefourths of the sector oriented towards the domestic market and the crucial festive season behind us.

Another trade body that primarily represents small and medium exporters expects a relatively moderate impact versus FIEO as it sees outbound shipments amounting to $25 billion getting affected due to the disruptions and delays with freight companies taking the longer route around Africa to reach the west, or waiting at nearby ports for safe passage through the Suez Canal.

Even India’s tea sector remained resilient with exports rising 6 92 percent, a three-month high, to $64.90 million in January 2024 despite the Red Sea crisis.

PK Bhattacharjee, Secretary General, Tea Association of India, says this is largely due to the government’s intervention, which led to banks providing maximum credit limits and Export Credit Guarantee Corporation (ECGC) keeping insurance premium rates unchanged despite the spike in shipping costs

Cost crisis

An unanimous impact of the Houthi attacks has been the rise in overall shipping costs.

Rerouting around the Cape of Good Hope due to the Red Sea crisis is delaying shipments by two to four weeks, which is extending delivery window dates and affecting cash flow

In its survey, FIEO revealed that cotton yarn exporters are facing a 50600 percent increase in costs for their shipments to Bangladesh, Europe, and Egypt.

The Drewry World Container Index, which serves as a composite measure of container freight rates, reached $3,786 per 40-foot container in the week up to February 8, up 90 percent when compared with the same week last year, and 167 percent more than average 2019 (prepandemic) rates of $1,420.

Soaring freight and elongated transit times are trapping working capital, thereby increasing the demand for more resources when it comes to storage or inventory The extended cycle, with higher costs and interest outlays, may ultimately reduce demand,” FIEO noted in the survey

For Indian exporters, the threat of order cancellations looms large.

“My company Ceekey Global Trading in Calicut was regularly supplying Basmati rice to a buyer in Glasgow at a normal freight of $1,4001,600 from Mumbai to Felixstowe in the UK. Today the current ocean freight on the route is nearly $3,1003,200. The buyer cancelled this order since he cannot afford the cost,” Munshid Ali, Secretary, Kerala Exporters’ Forum, said.

As attacks on vessels traversing through the Red Sea, which began mid-November 2023, continue, exporters in India fear a prolonged crisis that runs the risk of escalating.

‘Give more support’

Given these concerns, there have been demands from the government to go beyond what has been offered so far in helping exporters manage o p e r a t i o n a l c o s t s , i n c l u d i n g , subsidies and low-interest loans as India faces comparatively higher interest costs than China.

Bhattacharya articulates this fear well.

“Despite the tremendous support from the government, tea exporters are frightened, if the Red Sea crisis, that is Houthi attacks, continues, the situation could worsen,” he said.

CJ-VI VACANT

CJ-VII

CJ-VIII VACANT

CJ-IX

CJ-X

CJ-XI VACANT

CJ-XII VACANT

CJ-XIII Olympia Logger DBC 01/03

CJ-XIV Chintana Naree Mihir & Co. 03/03

CJ-XV Lady Ayana ACT Infra 02/03

CJ-XVA Jin Hai Hua Chowgule Bros 01/03

CJ-XVI VACANT

TUNA VESSEL'S NAME AGENT'S NAME ETD Alice Oldendorff

OIL JETTY VESSEL'S NAME AGENT'S NAME ETD

OJ-I Eagle Ford Lady

OJ-II

OJ-III VACANT

OJ-IV

OJ-V

OJ-VI

OJ-VII

LIQUID CARGO VESSELS

SHIPS

WITH EXPORT

(V-4107) Damietta

(V-02SGN)

(V-408W)

(V-410S)

SB-04

NSICT

(I) 2369248 19/02

Majd (V-24004W) Poseidon 2369256 19/02

Cape Flint (V-24007) Sealead Shipping 2369276 20/02

X-Press Mekong (V-24002W) Sea Consortium 2369289 20/02

APL Minesotta (V-OIX5VW1) CMA CGM Agency (I) 2369327 20/02

CSCL Jupiter (V - 085) COSCO Shipping 2369335 20/02

Interasia Enhance (V-032E) Interasia Shipping 2369338 20/02

Northern Jamboree(V-IU407A) MSC Agency 2369339 20/02

MSC Clorinda (V-IS406A) MSC Agency 2369340 20/02

Aka Bhum (V-019E) RCL Agency 2369351 20/02

Tabea (V-2404E) Emirates Shipping 2369352 20/02

CMA CGM Valparaiso (V-OMTGVW1) CMA CGM Agency (I) 2369355 21/02

TS Dalian (V-24001E) TS Lines India 2369369

NSIGT

Marathopolis (V-409S) Maerks India 2369636 23/02

Wide Alpha (V-244E) One India 2369682 23/02

Tina 1 (V-409E) Maerks India 2369685 23/02

Vessel Name (Voy) Sailing Dt. Next Port

APL Minesotta (V-OIX5VW1)

Cape Flint (V-24007)

Osaka (V-2407W)

Parina (V-2319W)(NSDT)

Green Ace (V-2408)

CMA CGM Valparaiso (V-OMTGVW1) 23-02-2024 Durban

Marianetta (V-IV408A) 24-02-2024 AICT

Tabea (V-2404E) 24-02-2024 Port Kelang

TS Dalian (V-24001E) 24-02-2024 MICT

Irenes Rule (V-2402W) 25-02-2024 MICT

Maersk Boston (V-407W) 25-02-2024 Salalah

Marathopolis (V-409S) 26-02-2024 Port Qasim

Seaspan Beacon (V-4107W)

BMCT

ACMTPL

Northern Jamboree(V-IU407A) 22-02-2024 AICT

MSC Clorinda (V-IS406A) 23-02-2024 AICT

MSC Ellen (V-IP408A) 24-02-2024 Hazira

Seaspan Amazon (V-4309W) 25-02-2024 ACMTPL

Wan Hai 502 (V-E120) 21-02-2024 Port Kelang

Belita (V-OMXHMW1) 22-02-2024 AICT

Maersk Guayaquil (V-407W) 23-02-2024 Salalah

Aka Bhum (V-019E) 24-02-2024 Piapavav

One Hangzhou Bay (V-054E) 25-02-2024 Piapavav

Wide Alpha (V-244E) 26-02-2024 Colombo

MSC Emanuela (V-GA407R) 19-02-2024 Colombo

Zhong Gu Ji Nan (V-024001E) 20-02-2024 AICT

Kota Layang (V-093E) 20-02-2024 AICT

MSC Vittoria (V-IW405A) 20-02-2024 Colombo

TS Singapore (V-24001E) 21-02-2024 Karachi

Majd (V-24004W) 21-02-2024 MICT

X-Press Bardsey (V-24001E) 22-02-2024 Colombo

San Pedro (V-085W) 22-02-2024 Khalifa

Hyundai Jakarta (V-129W) 22-02-2024 AICT

Maersk Chachai (V-408W) 23-02-2024

CSCL Jupiter (V-085) 23-02-2024

Interasia

KMTC

“Atmanirbhar Bharat will become foundation for Viksit Bharat,” PM Modi

VARANASI: Highlighting the difference between the thought processes of the previous and the present government, Prime Minister Shri Narendra Modi on Friday said that ‘Atmanirbhar Bharat’ will become the foundation for Viksit Bharat.’

He emphasized that Atmanirbhar Bharat will become a reality only when the smaller possibilities in the country are reenergized, and the small farmers, pashupalaks, craftsmen and small and medium industries are provided assistance.

Prime Minister said that the call for Vocal for Local is an advertisement for the small players in the market who cannot spend on television and newspaper commercials.

“Modi himself advertises those who produce indigenous goods”, he said, “Modi is the ambassador of every small farmer and industry, be it the promotion of Khadi, toy manufacturers, Make in India, or Dekho Apna Desh.”

The Prime Minister further said that “Uttar Pradesh

has decided to give 100 per cent seats to Modi, t o N D A ( i n L o k S a b h a elections).”

He observed that the impact of such a call can be w i t n e s s e d i n K a s h i i t s e l f where more than

12 crore tourists have visited the city since the rejuvenation of Vishwanath Dham leading to a surge in income and employment opportunities.

Referring to the launch of an electric catamaran vessel provided by Inland Waterways Authority of India (IWAI) for Varanasi and Ayodhya, PM Modi said that it will create a unique experience for those visiting.

Greece is natural entry point for India to tap the European market : Greek PM

N E W D E L H I : G r e e c e a n d I n d i a have a “lot of complementarities” in shipping, pharma and other sectors, G r e e k Pr i m e M i n i s t e r Ky r i a k o s Mitsotakis recently said as he emphasised that his country is the natural entry point for Indian companies to tap the European market.

Addressing the ‘India-Greece Business Forum’, organised by FICCI and Enterprise Greece here, he said Greece and India have a “lot of complementarities” in shipping, pharma, such as defence, drones, agriculture, information and communication technology, tourism.

in 16 years, and his trip is a follow-up to Indian Prime Minister Narendra Modi’s visit to Athens last year, the first by an Indian premier in four decades.

He said “we expect to make concrete announcements very soon regarding the signing of the mobility migration agreement, enabling more Indian labour to come to Greece in an organised manner”.

On a sector-to-sector approach, the prime minister said, “ You will realise that there’s a lot of complementarities between sectors where Greece has a comparative advantage and where India is also quite strong.” “I can see interesting natural synergies emerging in the technology space,” he added.

Mitsotakis is the first Greek premier to travel to India

According to him, drones, sea drones, shipping, pharma, financial services, banking, insurance agriculture, among others, are such areas where Greece sees a lot of complementarities with India.

“We have great people to people, connections, we have a vibrant Indian community in Greece, and we want to foster these connections much further,” he emphasised.

The Prime Minister added that Greece’s location is such that it is the natural entry point for Indian companies to enter the European market.

After Brexit, Indian companies will be looking for a new European anchor to access the European market.

Mumbai-Ahmedabad Bullet Train Project to prove as a corridor of economic prosperity : Ashwini Vaishnaw

NEW DELHI: Railway Minister Shri Ashwini Vaishnaw has said that Mumbai-Ahmedabad Bullet Train Project will prove to be a corridor of economic prosperity, transforming towns and cities along the route and becoming a learning experience for future initiatives.

“Trains will zip through the tunnel at a maximum speed of up to 320 km. Constructing it without disturbing the tall buildings in the area is a challenge,” the railway minister said.

The shaft at the Vikhroli site of the National High Speed Rail Corridor is one among the four to be built for the entire 21-km-long underground stretch of the

Mumbai-Ahmedabad Bullet Train Project.

The shaft-2 will be used t o l a u n c h t w o T B M s — one towards the Bandra-Kurla Complex (BKC) station’s east end and the other towards Sawli in Navi Mumbai.

Vaishnaw also reviewed the progress of construction of the BKC station, which is the starting point of the Mumbai-Ahmedabad bullet train.