Kattupalli Port wins APEX India Greenleaf Award for sustainability

CHENNAI: Marine Infrastructure Developer Private Limited (MIDPL) of Kattupalli Port, part of Adani Ports and Special Economic Zone Limited (APSEZ),has been honored with the prestigious Platinum award in the‘Sustainable’ category at the 12th APEX Greenleaf Awards and Conference on SH&EandExpo.

MIDPL has been awarded for outstanding achievements in the areas of various sustainability initiatives towards combating climate change through reduction in carbon emission, energy conservation measures, energy efficiency projects, water conservation, andbiodiversitypreservation.

Thekeyprojectsimplementedinclude:

• Renewable Energy Installation (Solar Roof Top) of 1MW

• 10.86%reductioninwaterconsumptionduringFY22

• Reduction in carbon emission by complete replacementof51diesel-operatedITVstoe-ITVs

• Effective waste management practices and reuse of wasteforbeneficialuse

• Waterconservationandwaterbodyprotection

This is another major recognition to India's largest private port operator APSEZ’s corporate commitment towards maintaining a healthy and sustainable environment. APSEZ believes in adopting sustainable methods in day-to-day operations and is committed to contributing towards a sustainable future. This award is testimony to

APSEZ’s commitment to sustainable development.

Kattupalliin Tamil Nadu is a modern multi-cargo portthat has vast infrastructure. With deep draft berths and multipurpose terminals, the port efficiently handles thelargestbulkcarriersintheworld.Theporthascovered andopenstorageareaswithenormouscapacity.

The APEX India Foundation provides a forum for presentation, discussion on recent research and promoting other noble initiatives taken by Individuals, corporate,academicsandactivistsallovertheglobe.

Drewry: World Container Index up by 4% last week

LONDON: Drewry’s composite World Container Index increased by 4% to $1,773.58 per 40ft container last week – the firstincreasein15weeks.

Drewry’s detailed assessment for Thursday, 20 April 2023

• The composite index has increased by 4% last week, but has dropped by 77% when compared with the same weeklastyear.

• The latest Drewry WCI composite index of $1,774 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021. It is 34% lower than the 10-year average of $2,688, indicating a return to more normal prices, but remains 25% higher than average 2019 (pre-pandemic) rates of $1,420.

• The composite index increased by 4% to $1,773.58 per 40ftcontainer,butis77%lowerthanthesameweekin2022. Transpacific eastbound rates rose, reflecting the General Rate Increases implemented by carriers from mid-April. Freight rates on Shanghai – New York gained 12% or $297 to $2,849 per feu. Rates on Shanghai – Los Angeles surged 11% or $182 to settle at $1,856 per 40ft box. Rates on Shanghai – Genoa inched up by 1% to $2,268 per 40ft container.However,ratesonNewYork–Rotterdamfell5% to $969 per feu. Rates on Rotterdam – Shanghai and LosAngeles–Shanghaidropped4%eachto$618and$1,009 per 40ft box, respectively. Rates on Rotterdam – New York have now decreased for 19 consecutive weeks and saw a weekly drop of 1% to $4,881 per 40ft container. Rates on Shanghai – Rotterdam hovered around the previous week’s level. Drewry expects East-West spot rates on routes other thanthetransatlantictoriseinthenextfewweeks.