MUM-30-06-2023

Maharashtra’s Maritime Development Policy 2023 to be presented for State Cabinet approval soon: Sources

MUMBAI: The Maritime Development Policy 2023 (MDP-2023) is expected to be produced in the Cabinet Meeting very soon, according to reliable sources Gujarathasalotofconcessionsforthecargotransportation activities and they are ahead in maritime operations, informedanofficialfromthePortsDepartment

This prompted the Government to add several firsttime features like concessions on waterfront royalties,

encouragement for waterfront activities etc to the MDP-2023.

The incentives in the policy include land on lease for marinas, ship building-repairing, ship recycling facilities and concessions in tickets for floatels, amphibious buses, houseboats, seaplanes, and dinner cruises. These will in additiontothedevelopmentofroadandrailinfrastructure forprivateports. Cont’d. Pg. 25

Comprehensive radar and camera network over the entire Antwerp Port area

Digised infrastructure for safe and efficient shipping traffic

ANTWERP: Port of AntwerpBruges is taking traffic management to the next level with the launch of an extensive digital radar and camera network.

This advanced equipment scans the entire Antwerp port area and will

become the backbone of safe and efficient shipping traffic. Following therecentlylauncheddronenetwork, this represents another important step towards the realisation of a complete digital nervous system coveringthearea. Cont’d. Pg. 4

Comprehensive radar and camera network over the entire Antwerp Port area

Cont’d. from Pg. 3 Fullcoverage

The vast Antwerp port area covers more than 120 km2 with 11,000 hectares of waterways and quays. More than 300,000 shipping movements take place in the port every year Inordertocontinuouslymonitortheentirearea,aswell as all shipping movements, Port of Antwerp-Bruges has expandedanddigitisedit'scameraandradarinfrastructure.

The 460 cameras and 22 radars are directly connected to the Antwerp Coordination Centre and provide operational services such as Vessel Traffic Services (VTS) and the Harbour Master's Office with a comprehensive view of the port. This allows them to closely monitor shipping and incidents and to manage waterways and moorings more efficiently and safely according to the highest IALA (International Association of Lighthouse Authorities) standards. The images are then viewed and analysed by colleagues with police powers and can also be sharedwithsecurityservicesandotherauthorities.

Future-proof

Withthisnetworklaunchingtoday,theportnowhasone of the most advanced and high-performance systems of any port in the world. Thanks to the digitisation of the entire network, it is also ready to be connected to APICA (Advanced Port Information and Control Assistant), the port's digital twin. This digital copy of the entire port area provides a scan every second to create a real-time picture of what is happening at the port based on thousands of pieces of data from a network of cameras, sensors and drones Operational since 2022, APICA supports port workers to quickly gain visibility into the situation on the ground, and, therefore, to carry out their workmoresafelyandefficiently.

The smart cameras are equipped with specially designed artificial intelligence that allows them to

recognise ships. In combination with detailed radar data, this real-time data will further increase situational awareness in the future in order to evolve towards predictiveandsteeringbehaviour

Rob Smeets, Chief Operations Officer Port of Antwerp-Bruges: “This network is a great asset to our port in terms of safety and operational efficiency. The new sensors form the technological backbone of shipping guidance. In the past, there were a few blind spots in the port area where we had no insight into unexpected shipping movements or incidents. Thanks to the successful cooperation with our concessionaires, we have been able to install radars and cameras in many new locations. There isn't a single centimetre of the terrain that escapesthisextensivenetwork."

Erwin Verstraelen, Chief Digital and Innovation Officer Port of Antwerp-Bruges: “This network is essential for the further rollout of a digital nervous system acrossthephysicalporttosupportasaferandmoresecure port. Integrating this data into the digital twin brings us closer to the goal of having a finger on the pulse of what is happening in the vast port area permanently and everywhere.”

AnnickDeRidder,Vice-MayoroftheCityofAntwerp and President of the Board of Directors of Port of Antwerp-Bruges: "This extensive state-of-the-art radar and camera network is a first in the port world. It's also coming online less than three months after the launch of our unique drone network This shows that our port continues to invest heavily in the very latest technologies and infrastructure. The aim? To make the Antwerp port area with its 11,000 hectares of waterways and quays one of the safest and most efficiently run in the world and to improve and strengthen our service to customer companies."

Interasia Lines - New Branch Opening in Gandhidham, Gujarat

GANDHIDHAM: Interasia Lines, a leading Container Shipping carrier, announces the expansionofitsoperationsinIndiawiththeopeningofits thirdbranchofficeinGandhidham,Gujaraton29thJune, 2023. This strategic move reinforces our commitment to providing reliable and efficient ocean container shipping services throughout Asia and strengthens our position asatrustedpartnerintheregion.

With a rich history dating back to 1967 and a strong reputation for delivering excellence, Interasia Lines has continuously evolved to meet the growing needs of our customers. The new branch in Gandhidham marks a significant milestone in our journey, joining our existing branchofficesinMumbaiandChennai.Weareexcitedto establish a presence in Mundra, India's first private port and largest container port, located on the northern shores of the Gulf of Kutch. This expansion allows us to leverage the strategic advantages of Mundra's state-ofthe-art infrastructure and its status as a multi-product port-basedspecialeconomiczone(SEZ).

Asaleadingplayerinthecontainershippingindustry, Interasia Lines currently operates 38 services connecting major trade routes across the Far East sector.Ourextensivenetworkspanskeymarketssuchas Japan, Korea, China, Hong Kong, Taiwan, Vietnam, Philippines, Thailand, Malaysia, Cambodia, Myanmar, Indonesia, India, and Kenya. With our established agency network in Karachi and Colombo, we ensure seamless connections and reliable transportation solutionsforourvaluedcustomers.

India holds immense potential as a land of opportunities, with a robust economy, skilled workforce, and a supportive business environment. At Interasia

Lines, we firmly believe in harnessing the growth potential of India and contributing to its success story. Our expansion into Gandhidham reflects our dedication to serving the Indian market and providing our customers with comprehensive shipping solutions tailoredtotheirneeds.

“Wearedelightedtoannouncetheopeningofournew branch office in Gandhidham," said Mr. Jeff Lo, Executive Vice President of Interasia Lines. "This expansion represents a significant milestone for Interasia Lines as we continue to invest in India's promising market. We are confident that our expanded presence in Gujarat will enable us to better serve our customers and forge strong partnerships within the shippingcommunity."

Interasia Lines remains committed to delivering superior customer experiences and fostering long-term relationships. Our team of dedicated professionals is equipped with extensive industry knowledge and expertisetoprovidepersonalizedsolutionsthatmeetthe uniquerequirementsofourcustomers.

Höegh Autoliners joins the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping as a Mission Ambassador

OSLO: The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (the Center) is an independent, not-for-profit research and development center establishedin2020withfundingfromtheA.P. MøllerFoundation.

The Center works dedicated to accelerating the decarbonization of the global maritime industry. This complex challenge requires unprecedented collaboration across sectors, industries, and geographies. Working with their partners, governments, authorities, public sector bodies, scientists, and organizations across the global maritime industry, they aim to inform, de-risk decision-making, and spark real climateaction.

As a result, they deliver independent analyses of how the transition is progressing and offer clear, data-driven recommendations for accelerating maritime decarbonization. Furthermore, the Center is maturing solutions to the most pressing problems across the maritime value chain, from fuels to onboard solutions, regulations,andfinancing.

This partnership will accelerate our transition towards a more sustainable future by allowing us to collaboratewithlike-mindedorganizations,andleverage the Center’s unique ability to develop and implement breakthroughdecarbonizationprojects.

Chief Strategy and Analytics Officer, Lise Duetoft says the following about our newly formed partnership:

“TogetherwiththeCenter,weseektoaccelerateboth our and the maritime industry’s path to reaching zero. We look forward to both contributing and leveraging the shared knowledge and experience of the Center’s partners.”

NOTICE TO CONSIGNEES

The above vessel is arriving at NHAVA SHEVA (BMCT) on 02/07/2023 with Import Cargo in containers.

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 TERMINAL PVT. LTD.

As Agents :

NORTH

FOR EXPORT LOADING

SCANDINAVIAN, RED SEA & MED. PORTS from NSICT

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

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

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

TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS from NSIGT

TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS from GTI

TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST INDIES PORTS from BMCT

Jebel Ali, Bandar Abbas. Speedy CFS

Cordelia 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

GDL & DRT ICC Line Neptune UAE & Upper Gulf Ports.

Ceekay Parekh Gulf Ports.

GULF PORTS From BMCT

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

PIL India/One(I) —/— 24/0725/07 TBATBA Ever Eagle 173E

07/0808/08 TBATBA TS Kelang 23004E

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

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

CISC Service TS Lines TS Lines (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-2

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

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

BSS Bhavani Shpg. Port Kelang, Singapore, Jakarta, Yangoon, Surabaya, Belawan, Ashte CFS

05/0706/07

TBATBA Northern Decency E2307 P0538 274597-12/06

23/0724/07 TBATBA GFS Giselle E2308

31/0701/08 TBATBA Shanghai Voyager E2305

Global Feeder Sima Marine Port Kelang, Shekou, Shanghai, Ningbo (CSC)

Heung A Line Sinokor India

Dronagiri

Seabird CFS (CSC)

Sinokor Sinokor India

TS Lines TS Lines (I)

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

Blue Water PoseidonShpg. Shanghai, Ningbo, Qingdao. Speedy CFS

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

PORTS from GTI

Wan Hai Lines Port Kelang, Singapore, Kaohsiung, Hongkong, Shekou. Dron-1 & Mul.CFS

12/0713/07 TBATBA Wan Hai 523 E015 P0645 275617-26/06 Evergreen Evergreen Shpg. BalmerLaw.CFSDron.

19/0720/07 TBATBA Navios Domino E152 Hapag/RCL ISS Shpg./RCL Ag. (CIX) ULA-CFS/

26/0727/07 TBATBA Wan Hai 502 E114 TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2

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

In Port 30/06 Interasia Resilience E020 P0561 274840-14/06 Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS

06/0707/07 TBATBA Wan Hai 362 E01 P0625 275380-22/06 COSCO COSCO Shpg. Ningbo, Shekou.

13/0714/07

Wan Hai 311 E224 InterasiaInterasia (CI2) 20/0721/07

HMM Shpg. Port Kelang, Singapore, Hongkong, Kwangyang, Pusan, Shanghai, Ningbo Seabird CFS

Lines Seahorse Ship Port Kelang(N), Hongkong, Qingdao, Shanghai. In Port 01/07 ESL Dachan Bay 2323E P0579

Wan Hai 307 E426

HMM Shpg. Port Kelang, Singapore, Laem Chabang, Caimep, Kaohsiung, Seabird CFS

23/0724/07 TBATBA Hyundai Courage 0107E Maersk Line Maersk India Pusan, Indonesia, Thailand, Vietnam & Other Indland Destination. Maersk CFS

13/0814/08 TBATBA Hyundai Pluto 0031E 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 GTI

TO LOAD FOR AUSTRALIA & NEW ZEALAND PORTS from BMCT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSICT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from NSIGT

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from GTI

TO LOAD FOR EAST, WEST & SOUTH AFRICAN PORTS from BMCT

JAIGARH PORT LIMITED

VESSELS ON BERTH (As on 29-06-2023)

Govt committed to fostering a conducive business environment in PLI sectors: Piyush Goyal

NEW DELHI: Union Minister of Commerce and Industry and Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal said that the Government is committed to fostering a conducive business environment and accelerating growth in Production Linked Incentive (PLI) sectors. While delivering the keynote address at a Workshop on “PLI Schemes” organized by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry yesterday, the Minister encouraged industry’s feedback and collaborative engagement to shape the policies,

procedures and effectiveness of the PLIscheme.

Shri Goyal emphasized on the importance of the industry's concentration on producing highquality products that cater to both the industry's requirements and the consumers' needs. He also urged PLI beneficiaries to take up any procedural challenges/ issues with respective implementing Ministry/ Department so that positive reforms canbebroughtaboutandPLIscheme can be made more efficient and effective. The Minister further added that the Government officials of the implementing Ministry/ Department must hold regular consultation and roundtables with their respective PLI

beneficiary so that the issues may be resolvedpromptly.

Shri Piyush Goyal urged all stakeholders to work together on creating an environment that fosters growth, innovation, and competitiveness in our industries. The objective of the Workshop was aimed to bring all the key stakeholders on a single platform and create a sense of ownership, so that they could exchange their knowledge and experiences to ensure an effective implementation of PLI Schemes under 14 key sectors. The workshop was organised In line with the vision of the Prime Minister, Shri Narendra Modi, to make India a globalhubformanufacturing.

India and Iran are rapidly progressing towards signing a long term contract

NEW DELHI: India and Iran are rapidlyprogressingtowardssigninga long term contract outlining New Delhi’s investments in the strategically located Chabahar port. Most of the nagging issues related to thedevelopmentoftheportthatcame up between India and Iran have been resolved earlier this month after senior officials and diplomats from both sides held intense talks. A few issues, however, remain but these are expected to be ironed out in the coming weeks. Indian officials are likely to visit Iran in the next few weeks with the aim to resolve these remainingissues.

“Things are moving fast, both sides are working towards resolving issues that have stunted work on the project,”asourcewasquotedbyIndia Narrative.

Amid changing geopolitical contours and Chinese advances, India is keen to press the pedal on completion of the port located in southernIranattheearliest.Theport

will also be linked to the International NorthSouthCorridor.

According to the Iranian media, Ali Akbar Safaei, Chief of the Iranian Ports and Maritime Organization, said that talks on existing disputes regardingthedevelopmentoftheport wereheldbetweenJune12and16.

After all issues are resolved, the long term deal aimed at developing theportwillbesigned.Theportwhich is strategically located, provides Mumbaiadirectlinktothelandlocked Central Asian countries. The location of Chabahar Port has an advantage for developing it as a transshipment hub as it lies close to some of the busiesttraderoutesintheworld.

Several issues had come up between the two countries which has resulted in a delay in construction of theport.

“As part of the memorandum of understandingamongIran,India,and Afghanistan, so far, an initial investment worth $25 million has been committed to Iran and will be

usedtodeveloptheport,”Safaeisaid.

Notably, in May National Security Advisor Ajit Doval paid a visit to Tehran and met Iranian President EbrahimRaisi.

Raisi underlined the need to take India-Iran ties to a “new level” especially with a focus on economic andcommercialengagements.

Aftersomehiccups,IndiaandIran are rebooting their ties. Recently, India even sent wheat to Afghanistan through the Chabahar Port. “This reflects the rebooting of ties between IndiaandIran,”ananalystsaid.

Meanwhile, last year, the Reserve Bank of India gave its nod for using the rupee payment mode for the sanctions hit Iran. India had halted imports from Iran in 2019 after the reimpositionofsanctionsbytheUSon theoilrichnation.

“We are looking at a long-term rupee trade not just with Russia but with Iran as well,” Sanjeev Sanyal, Member, Economic Advisory Council tothePrimeMinisterearliersaid.

India's average growth rate likely to be 6.7% till FY27, consumer activity to be lead driver: S&P

NEW YORK: Indian economy is expectedtoclockanaveragegrowthrateof 6.7 per cent till 2026-27 fiscal driven by domestic consumption, S&P Global Ratings Senior Economist (Asia Pacific) Vishrut Rana said recently. He said the economic growth in the current fiscal is expected to come in around 6 per cent, lowerthan7.2percentclockedin2022-23.

"We are seeing some headwinds from the trade side which is affecting activityandthatisoneofthefactorsthat is affecting growth this year," Rana said atawebinar.

The factors that are driving the slowdown from 7.2 per cent growth last fiscalareweakerexternalenvironment, moderation in pent-up demand, and softening private consumption activity, Rana said, adding, with tighter monetary policy there is expected to be someimpactonconsumerdemand.

"We expect 6.7 per cent growth on average over the course of our forecast horizon which extends to FY26-27. This fiscal (2023-24) we expect growth to be 6 per cent," Rana said, adding that consumer activity would be the lead

driverofgrowth.

ReserveBankofIndiahasprojected GDP growth in the current fiscal to be 6.5percent.

Further, Rana said there is a "strong tailwind" coming from the investment side and the investment outlook is lookingsignificantlystronger.

"Inflation is moderating... We do not expect RBI to be in a hurry to cut interest rates," Rana said, adding, the RBI is likely to wait till early 2024 to cut rates till inflation expectations are anchoredfully.

VESSELS

Shpg. Singapore, Humen, Shanghai, Lianyungang.

NOTICE TO CONSIGNEES

m.v “X-PRESS ANGLESEY” Voy- 23004E I.G.M.No. 2347976 Dtd. 29-06-2023

The above vessel is arriving at NHAVA SHEVA (BMCT) on 02-07-2023 with import cargoes from ports BANGKOK, BUSAN NEW PORT, CHANGDE, HAIPHONG, HOCHIMINH, JAKARTA, KOBE, MOJI, NAGOYA, NANJING, NINGBO, OSAKA, PORT KLANG NORTHPORT, SHANGHAI, SHEKOU, SINGAPORE, YOKOHAMA also transshipment cargo of following Ex. Mother vessels:

Consignees are requested to present Original Bills of Lading duly discharged and obtain Delivery Order on payment of all charges as applicable. Detention charges where applicable will be charged as per tariff.

Our Surveyors are M/s. Pinnacle Marine Surveyors Pvt Ltd. Usual Survey conditions shall apply

Consignees are also requested to note that the carriers and/or their Agents are not bound to send individual notifications regarding arrival of the vessel or the goods.

Note : For IGM & ITEM nos. Vessel arrival inquiry, destination charges tariff please visit our site : www.ekmtc.com For KOREA MARINE TRANSPORT CO. LTD.

As Agents :

FIDES

40% of India’s exports may be impacted by US and European economic slowdowns

NEW DELHI: The impending economic slowdown in advanced nations, particularly the US and Eurozone, is expected to have an adverse effect on micro, small, and medium-sized enterprises (MSMEs), whichaccountforabout40%ofIndia’s exports. This is because nearly onethird of India’s total exports are to thesetworegions.

As a result, one out of every five MSMEsisanticipatedtohaveadelayin itsworkingcapitaldays.TheseMSMEs operate in industries where a lot of operatingcapitalisalreadyneeded.

MSMEs that produce dyes and pigments, insecticides, and pharmaceuticals are particularly prevalent in the Ahmedabad cluster. The working capital stretch is anticipated as a result of a stockpile following producer dumps in China, the recent earthquake in Turkey, and a slowdown in the US. According to a study by CRISIL MI&A Research, these three make up 20–25 percent of all exports of pharmaceuticals,

insecticides,anddyesandpigments.

Surat is the origin of 90% of India’s diamond exports. More than half of India’s gem and jewellery exports are diamonds, and the biggest export market’ssharpdecreaseindemandis having a big impact. This is having an impact on receivable days, which are increasing working capital days from 140 prior to the pandemic to over 200thisfiscalyear.

The lack of anticipated capex last fiscal year, which was intended to reduce the fiscal deficit, has made it harder for developers in the construction-roads sector to meet workingcapitaldemandsinthefaceof rising commodity prices. As a result, their working capital cycle has lengthenedbymorethan100daysthis fiscalyearcomparedtopre-pandemic levels.

The entire amount of loan required by the MSME sector is also projectedtobeoverRs100lakhcrore. The formal financial institutions cannot, however, meet the entire

demand since some businesses are either not commercially viable or choose to forego formal financial services. High credit risk, a lack of collateral, regulatory restrictions, and other issues make it difficult to get finance. The cost of capital is therefore very high because around 70% of the debt comes from unofficial sources.

The MSME sector’s growth and development are being hampered by a substantial credit gap, according to the RBI, which suggests that around 80% of India’s MSME sector debt is in the high-risk category and the numberofnon-performingassetshas significantlyincreased.

With new initiatives including priority sector lending criteria, cluster-based lending, and government programmes, there have been improvements in MSMEs’ ability to access finance. The MSME sector and its finance requirements do, however, require more supportive policiesandinfrastructure.

Iran imports from India impacted with fall in Rupee reserves

NEW DELHI: India faces the possibility of losing one of its largest markets for basmati rice exports, Iran, following the depletion of rupee reserves held by the West Asian nation in recent weeks, people familiarwiththemattersaidrecently.

Theissuehasalsohittheexportof other commodities such as tea and pharmaceuticals to Iran, the people added. Iran has been paying for imports by using rupee reserves built up from oil exports to India, before New Delhi stopped buying Iranian crude in mid-2019 because of US sanctionsonTehran.

While the Iranian side has been working on ways to resume basmati rice imports from India, importers in thatcountryhavebegunexploringthe option of increasing rice procurements from other producers such as Pakistan, Turkey and Thailand,thepeoplesaid.

Iran imported almost a million tonnesofthearomaticricefromIndia

in 2022-23, 20.35% of the total basmati exports of 4.5 million tonnes from the country.

Two persons, who spoke on condition of anonymity, said India-Iran trade has fallen sharply since 2019-20 after New Delhi stopped buying Iranian crude in May 2019. Till then, Iranwasamongthetopthreesuppliers of energy to the country, along with Saudi Arabia and Iraq. “It seems Iran has exhausted all its rupee reserves, andtherebytradeinlocalcurrenciesof the respective countries is not possible,”onepersonsaid.

A second person, an expert on India’s currency management, said: “AsfarasIknow,theremaynotbeany trade in local currencies (rupee-rial trade).”

The Iranian side flagged the issue to the Indian side in several recent meetings and offered to resume oil exports as a way to build up rupee reserves held in India, the people said. The Iranian side also pointed to

India’s purchase of Russian crude in the face of Western sanctions and contended New Delhi should adopt a similar approach to resuming procurement of Iranian energy, the peopleadded.

Iran has been either the largest or second-largest importer of Indian basmati since 2014-15, according to government data. It was the largest importer of the commodity in 2017-18, 2018-19, 2019-20 and 2021-22. Iran imported 935,567 metric tonnes of basmati in 2014-15, and the amount peaked in 2018-19 at 1.4 million metric tonnes. The figure for 2022-23 was 998,879 metric tonnes. Iran was the fourth largest buyer of Indian tea during 2022-23, with imports worth $68million.

According to official data, India’s trade with Iran fell sharply in 2019-20, compared to the previous fiscal. Imports, mainly Iranian crude, fell about 90% to $1.4 billion, as compared to$13.53billionin2018-19.

US decision to introduce in-country renewable of H-1B visas to promote India's services exports: SEPC

NEW DELHI: The US announcement to introduce in-country renewable of H-1B visas will help swift movement of Indian IT professionals and promote services exports, SEPCsaidrecently.

Services Export Promotion Council (SEPC) said that the decision would alloweasieron-siteclientengagementby domestic IT professionals. "When Indian

IT professionals can quickly travel to client locations abroad, they can better understand client requirements, build stronger relationships, and deliver tailored solutions. This direct engagement can lead to increased client satisfaction, repeat business, and ultimately, higher IT exports," SEPCChairmanSunilHTalatisaid.

He said that as the US is the major

market for India's IT exports, this development will have a significant positive impact on the export of IT servicesfromIndia.

"TheearlierestimatesforITexports growth have been in the range of 8-12 per cent however with this particularpushtheexportsgrowthinIT can further stride in the range of 13-15percent,"Talatisaid.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 30/06/2023

VESSELS IN PORT & DUE FOR EXPORT LOADING

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

LIQUID CARGO VESSELS

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI INTERNATIONAL CONTAINER TERMINAL (AICT)

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

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

TO LOAD FOR FAR EAST, JAPAN, CHINESE PORTS & AUSTRALIAN PORTS

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO LOAD FOR U.K. NORTH, MED., BLACK SEA, RED SEA, EAST EUROPE & CIS PORTS

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

IMPORTER'S GUIDE

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSFT

NSICT

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

Vessel Name (Voy) Sailing Dt. Next Port

Northern Guard (V-0904) 25-06-2023 Jebel Ali

GFS Sapphire (V-007) 25-06-2023 Jeddah

Sattha Bhum (V-143E) 26-06-2023 AICT

Hyundai Oakland (V-0123E) 26-06-2023 Hazira

Xiang Ying (V-0010) 26-06-2023 Jeddah

Ren Jian 25 (V-2303E) 27-06-2023 Karachi

KMTC Mundra (V-02304E) 27-06-2023 AICT

CSCL Neptune (V-075E) 28-06-2023

B.Pier LMZ Titan Wilhelmsen

B.P. Extn. Hai Phuong Star Parekh Marine

OCT 1 Jervis

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CUSTOM EXCHANGE RATESALLRATES PERUNIT

W. E. F. 16-06-2023

forfor CURRENCY CURRENCY IMPORTIMPORT IMPORT EXPORTEXPORT EXPORT Qatari Riyal 23.30 21.85 Saudi Arabian Riyal 22.30 21.25 Singapore Dollar 62.15 60.15 South African Rand 4.60 4.30 Swedish Kroner 7.75 7.50 Swiss Franc 92.80 89.30 Turkish Lira 3.60 3.40 UAE Dirham 23.10 21.70 US Dollar 83.05 81.35 Japanese Yen 59.20 57.35 Korean Won 6.606.20

FOREIGN EXCHANGE RATES

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

VESSELS DUE/IN PORT FOR IMPORT DISCHARGE AT MUMBAI

PM meets the Board and key leadership of Goldman Sachs

NEW DELHI: The Prime Minister, Shri Narendra Modi met the Board and key leadership of Goldman Sachs. The Prime Minister tweeted : "Had a fruitful discussion with the members of the Board and key leadership of @Goldman Sachs. Highlighted India's vast potential for growth, fuelled by recent reforms and a conducive business environment. Also spoke of how India's offers several opportunities forglobalfirms."

Samudera Shipping Line acquires New Build LPG Vessel

SINGAPORE: The Board of Directors of Samudera Shipping Line Ltd (the “Company”), made reference to the announcement made by the Company on 12 May 2023relatingtotheacquisitionofanew-buildliquefied petroleumgasvessel

(the “LPG vessel”), wishes to announce that the CompanyhastakendeliveryoftheLPGvesselon

27 June 2023. Samudera Tankers Pte Ltd, a subsidiary of the Company, has signed addenda to the

memorandum of agreement (the “MOA”) to novate all obligations and rights under the MOA to Ocean Ships InvestmentPteLtd,asubsidiaryoftheCompany.

TheLPGvesselhasbeenrenamedtoSinarToraja. Theywillserveashubsforfreightaggregationand distribution, enabling efficient movement of goods acrossthecountry.

MMLPs will offer state-of-the-art storage and warehousing solutions, along with value-added services like custom clearances and IT services, to catertothediverseneedsoflogisticsstakeholders.

Maharashtra’s Maritime Development Policy 2023 to be presented for State Cabinet approval soon: Sources

Cont’d. from Pg. 3

It has also proposed to offer priority docking for cruise vessels at ports and jetties, along with a 25% concession on ports charges. There is also a concession of75%onpassengerticketsforcruisesforthreeyears.

As part of its coastal recreation drive, the policy has proposed the development of lighthouses and tourist heritage destinations by helping cruise operators to partner with other operators for activities like water sportsandguidedtoursatonshoresites.

“The Maharashtra Maritime Board (MMB) will encourage the operation of floatels, seaplanes and houseboats along the coastline and water bodies. TheboardwillfinaliseSOPandguidelinesforamphibian buses, fishing vessels, cruises and floating cottages,” thepolicyhasproposed.

While drafting the policy, the Port Department of the State Government has taken stern competition from Gujaratintoconsideration.

“The neighbouring state has a lot of concessions for the cargo transportation activities and they are way ahead in operations though we house the largest port (JNPT) in our State. The policy offers incentives and tax holidays on par with Gujarat. The State Government will provide financial assistance to the operator, who will have to bear only 50% of the cost of the road connectivity to its port. The existing policy mandates the whole onus on the operator. For the railway connectivity the State Government has proposed to help the operators with support from the Central Government,” said an official

fromthePortsdepartment.

It has also proposed the capital assistance of up to 60% of the project cost for setting up skill development centres for private units and to encourage CSR for skill developmenttotideoverthedearthofskilledworkforce.

The policy has proposed to incentivise industries to transport raw materials and finished products through coastal shipping. It also speaks about permitting the development of coastal berths that will handle only non-Exim cargo and passengers. To encourage green channel facilities at ports by encouraging through concession and lease agreements among others. “To optimise the use of jetties owned-operated by police, forest, and tourism departments will be allowed to operate round the clock. The water ambulances will however be permitted to use the existing infrastructure,”theproposedpolicyhasstated.

Toencourageacluster-basedapproachtodeveloping shipbuilding and repairing industries, the MDP2023 proposes a concession/lease period of 21 years with the provision of an extension of further 9 years. The policy has adopted a cluster-based approach to developing shipbuilding and ship-repairing industries. It also proposes to avail suitable locations for developing ship recycling facilities along the coastline. The policy alsoproposesa30-yearleasefortheMarinaprojects,and 15 years for floatels, houseboats and seaplanes. “These projects will get 25% on port charges and 75% concessions on the tickets of floatels, houseboats andseaplanes,”hesaid.