RIYADH: Bahri has recorded solid growth for the first half with a 6% jump in its revenue which soared to SAR5.03 billion (($1.34 billion) supported by better shipping rates in oil and chemicals markets and larger volumes in dry bulk and logistics.
Saudi Arabia’s premier Shipping and Logistics company, Bahri comprises four business units (BUs)oil, chemicals, integrated logistics and dry bulk – as well as a ship management function shared company-wide.
Announcing its financial results for the six-month period ended June 30, 2024, Bahri said the revenue growth was mainly driven by the 24% YoY rise in sales from the Chemicals BU and improved contributions from dry bulk and integrated logistics.
DPIIT promotes green logistics industry balancing economic growth and environment
NEW DELHI: The Government recognizes the importance of sustainable logistics for India's economic growth and environmental well-being. Several initiatives have been taken to promote sustainable Logistics Industry, leveraging technologies including digitalization and automation. The PM GatiShakti National Master Plan (NMP) platform aims at enhancing industrial productivity and helping the country achieve its green logistics and clean energy goals through multi-modal connectivity across highways, railways, ports, airports, logistics infrastructure, and inland waterways with an objective of facilitating sustainable economic activities. Cont’d. Pg. 5
Bahri records solid growth in H1; revenue soars to $1.3bn
For the first six months, the Saudi shipper's net profit surged by 20% to SAR1.19 billion boosted by the EBIDTA margin expansion to 48% in H1 2024 versus 44% last year.
DPIIT promotes green logistics industry balancing economic growth and environment
Cont’d. from Pg. 3
The National Logistics Policy (NLP 2022) through modernization aims to promote the adoption of digital technology. National Industrial Corridor Development Corporation Limited (NICDC) under the Ministry of Commerce and Industry has developed digital platforms like Unified Logistics Interface Platform (ULIP) and Logistics Data Bank (LDB) for digitalized tracking and monitoring of logistics movement in the country
The National Logistics Policy (NLP 2022) aims to create a costefficient, resilient, and sustainable logistics ecosystem. Focus areas in the National Logistics Policy include the Sectoral Plan for Efficient Logistics (SPEL) for major sectors of the economy like Coal, Cement, Fertilizer, Steel, Phar ma etc examining existing supply chain networks and promoting multi-modal t r a n s p o r t , d i g i t a l i z a t i o n a n d automation The recently launched Coal L ogistics Plan proposes a strategic shift towards a railwaybased system in the First Mile C o n n e c t i v i t y p r o j e c t s , t h i s transformative approach is expected to minimize air pollution, alleviate traffic congestion, and reduce carbon
100,000 tonnes per annum. Moreover, a 10% saving in average turnaround time of wagons nationwide.
Considering the sustainability and e
railways, the government aims to boost Indian Railway's freight share from the current 35-36% to 45% by 2030 through several strategic initiatives like National Rail Plan Additionally, A Rail Sagar Corridor program by the Ministry of Railway being developed which aims to increase the Rail and ports-based cargo, improving modal shift for railways and contributing to cleaner ways of freight movement and to accelerate the growth of railways cargo traffic ‘GatiShakti Multi Modal Cargo Terminal (GCT)’ policy has also been launched.
The Freight Greenhouse Gas (GHG) Calculator is developed for calculating and comparing total cost of transportation and GHG emissions between various modes of transport for a fixed Origin-Destination Pair to create awareness and promote sustainability Indian Railway has introduced the concept of assigning “Rail Green Points” to its freight customers which give details of the expected saving of carbon emission.
An E-Handbook on Warehousing Standards has been launched to promote optimization, interoperability, modal-shift, providing guidelines and best practices for optimal warehouse space utilization The warehouse standards prescribed are primarily governing the physical infrastructure of the warehouses including health
The handbook will serve as a guide for
achieving efficiency, cost reduction, attracting investment, adoption of newer technologies and global best practices.
The digital platforms such as PM GatiShakti National Master Plan and the Unified Logistics Interface Platform (ULIP) have facilitated data-driven decision-making. ULIP is enabling the industry players to get secure access to the data related to logistics and resources available with various Ministries At present 37 systems from ten ministries are integrated through 118 APIs covering more than 1800 data fields for usage by the stakeholders.
T
provided by the Union Minister of State for Commerce and Industry, Shri Jitin Prasada in a written reply in the Rajya Sabha.
Largest industrial park among 12 proposed to be set up in Maharashtra : Piyush Goyal
MUMBAI: Union Minister of Commerce and Industry Shri Piyush Goyal said that the Union Budget 2024 is impactful, inclusive and innovative and the country’s largest industrial park will be built in Maharashtra.
At a press conference here, Piyush Goyal, the Lok Sabha MP from Mumbai North constituency, said that the proposed industrial park will be among the total of 12 industrial parks announced by Finance Minister Smt Nirmala Sitharaman in the Budget, presented a ‘financially prudent’ Budget He added that
FM presented a ‘financially prudent’ Budget.
These industrial parks have been sanctioned under the National Industrial Corridor Development Programme (NICDP), which was launched to create employment opportunities and boost economic growth, leading to overall socioeconomic growth.
This proposed development of the 12 industrial parks aligns with the Government’s priority on employment and skilling, infrastructure, and urban development
“The Budget has not fallen prey to trying to get into populism. It has a long-term perspective and ensures that the strength of the Indian economy is respected. It further strengthens the fundamentals of the Indian economy, macroeconomic fundamentals and its base. Unless we have a strong base, we will not be able to build the edifice of Viksit Bharat. Prime Minister Shri Narendra Modi and FM Sitharaman have demonstrated to the world that India continues to be on the path of Amrit Kal, Viksit Bharat,” he added.
Nitin Gadkari stresses MSMEs’ role in innovation and economic growth
N E W D E L H I : S h r i N i t i n G a d k a r i , M i n i s t e r o f R o a d Transport & Highways, spoke about the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in driving innovation and technological advancement in India.
Shri Gadkari highlighted the contributions of MSMEs to the nation’s economy and their potential to significantly reduce imports and
boost exports.
Shri Gadkari praised the ingenuity and entrepreneurial spirit within the MSME sector, stating, “The small peoplewithstartupsandMSMEshavea lot of new inventions and new t e c h n o l o g y . I n n o v a t i o n , entrepreneurship, science, technology, research, scale, and successful practicesarethefuture Theconversion ofknowledgeintowealthiscrucial ”
He detailed the Government’s efforts to support MSMEs through financial provisions without the need for bank guarantees. “We have made a special provision for a Rs. 400 crore l o a n , b a c k e d b y a t r u s t a n d Government funding, to finance MSMEs without requiring collateral guarantees. If there is any issue, the government will cover the liability,” he explained.
Cont’d. from Pg. 3
Bahri records solid growth in H1; revenue soars to $1.3bn
Margin expansion was driven by improvements in cost efficiencies and higher shipping rates for oil and chemicals, partly offset by reduced profitability in dry bulk and integrated logistics, and a lower earnings contribution from equity-accounted affiliates.
Key revenue growth factors for the company were favourable supply-demand price dynamics in oil and chemicals shipping market, larger chemicals and dry bulk volumes transported and increased logistics transactions during the period, it added.
For the second quarter, its net profit grew by 48% on the back of growth in shipped volumes, higher oil and chemicals shipping rates, and improved cost efficiencies compared to the second quarter of 2023.
The Q2 revenue increased 15% YoY to SAR2.71 billion, driven by chemical revenue growth and contributions from dry bulk and integrated logistics, likewise supported by favorable supply-demand dynamics in the oil and chemicals shipping market, and larger chemicals and dry bulk volumes transported, and increased logistics transactionscomparedtothesecondquarteroflastyear.
On a quarter-on-quarter (QoQ) basis, Q2 revenue was higher by 17%, driven by increases across all BUs on the back of higher shipping rates and larger cargo and logistics volumes.
On the solid performance, CEO Engineer Ahmed Ali Al Subaey said: "Bahri had a good first half of this year and delivered commendable operational performance across our divisions Our success was driven by optimized fleet management and route efficiency, supported by improved market conditions for VLCCs and chemical tankers."
"From our solid base, we are focused on valueaccretive growth through strategic fleet expansion and modernization, as well as in strengthening our presence in core and adjacent markets. By pursuing strategic partnerships and leveraging opportunities aligned with Saudi Arabia’s Vision 2030, we aim to support the development of the Kingdom’s maritime ecosystem as Saudi Arabia’s pre-eminent shipping and logistics
champion, he added.
The company continues to strengthen its balance sheet, with its net debt-to-equity ratio at 42% as of endJune 2024, trending down from 43% at end-December 2023 and 56% at end-June 2023, remarked Al Subaey.
End-June 2024 net debt stood at SAR5.69 billion, 15% lower YoY, while net debt-to-ebitda improved to .36x from 1.69x a year ago.
Free cash flow amounted to SAR 227 million in H1 2024 compared to SAR 621 million in H1 2023
The YoY decrease in free cash flow was mainly due to a cyclical rise in cash funding for working capital which offset increased cash generated from earnings, and to a less extent, higher capital expenditures during the current period
Basil Abulhamayel, Chief Financial Ofcer of Bahri, said: "We are happy to report strong earnings of SAR1.19 billion for the first half, 20% higher than in the prior year Our Oil transport business remained resilient despite some softening in revenues to still contribute a 13% ebitda year-on-year growth through improvements in operating efficiencies."
"Our Chemicals business delivered stellar performance, with its ebitda rising 46% from revenue growth of 24%. Integrated Logistics made good progress on its business transformation journey across multiple spaces in the supply chain, while Dry Bulk demonstrated operational flexibility to meet growing customer demand despite tonnage constraints," he stated
At the company level, Bahri has invested SAR1.54 billion in capital expenditures, 12% more than a year ago, mainly for the modernization and expansion of its shipping fleet, even as the group further strengthens its balance sheet, with a net debt-to-equity ratio of 42% at the end of first half 2024 from 56% at end-June 2023.
"We are embarking on an ambitious fleet expansion program, and are actively preparing the groundwork to set up a sustainable capital structure with the flexibility to successfully take advantage of opportunities and navigate market conditions through its peaks and troughs," he added
Rising Freight costs, Container shortages paralyse Global Trade recovery
MUMBAI: The Global Shipping Industry is experiencing disruptions similar to those seen during the Covid-19 pandemic, significantly affecting various sectors. Spot freight rates have surged by approximately 105 per cent in the last three months, and a severe container shortage is impacting industries ranging from agriculture to automotive, according to a media report.
Supply chain issues have been exacerbated by the Red Sea crisis, which has also disrupted food shipments. JSW Infrastructure anticipates some relief from rising freight rates within 4-6 weeks, while Adani Ports and Special Economic Zone (APSEZ) forecasts continued challenges throughout the coming season.
According to Drewry’s World Container Index (WCI), spot freight rates have climbed to $5,806 per 40-foot container as of July 25, although this is still lower than the pandemic peak of $10,377 per 40-foot container in September 2021, the report claimed.
Companies report that the high consumer demand, supply chain disruptions, and equipment shortages are reminiscent of the pandemic The auto sector is particularly affected by the container shortage.
The Shanghai Containerised Freight Index (SCFI), which tracks container freight rates from China to global markets, including India, tripled to around $3,700 per
twenty-foot equivalent unit (TEU) last month from approximately $1,000 per TEU before the Red Sea crisis.
India relies heavily on the Suez Canal for 35 per cent of its foreign trade with Europe, North Africa, and the Americas, predominantly in containers.
The Red Sea crisis has forced ships to reroute around the Cape of Good Hope, increasing freight rates and insurance premiums
The foodgrain and perishable goods sector has also been disr upted, affecting low-value freight, which accounts for 10 per cent-15 per cent of total volumes Maulesh Desai, Director at CareEdge Ratings, predicted an 8 per cent growth in container volumes to 342 million metric tonnes during this financial year. However, he believes that rising shipment costs are further eroding already thin profit margins.
Ajay Sahai, Director General of the Federation of Indian Export Organisations (FIEO), stated that exporters, especially those dealing in fashion apparel, footwear, and high-value perishables, are shifting to air cargo due to the maritime impact. This shift is causing a demand-supply mismatch in the air cargo segment, with insufficient freighters to meet the demand surge and delays in cargo pickup. Companies have different opinions on when the situation will improve
10/0811/08 TBATBA RC Ocean 040 MBK Line MBK Logistics Jeddah, Kumport (India Med Service) MAS Diamond Marine
31/0701/08 TBATBA Maersk Virginia 431W Q0931 301326-16/07 Maersk Line Maersk India Djibouti, King Abdullah, Jeddah (Blue Nile) Maersk CFS
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
31/0701/08 30/07 2200 APL Phoenix 0MXK1W1 Q0943 301433-17/07 Hapag ISS Shpg. Suez, Port Said, La Spezia, Genoa. Fos, Barcelona, ULA CFS 07/0808/08 TBATBA Belita 0MXK3W1 Q1036 1097891-26/07 CMA CGM CMA CGM Ag. Valencia, Cagliari. (IMEX Service) Dron-3 & Mul 14/0815/08 TBATBA Yantian Express 4332W COSCO COSCO Shpg. P Said, La Spezia, Livorno, Genoa, Fos, Barcelona, Valencia, Algeciras 01/0802/08 01/08 1000 UASC Zamzam 429W Q0909 301239-15/07 Maersk Line Maersk India Jeddah, S.Canal, Port Said, Tangier, Algeciras, Valencia, Maersk CFS 03/0804/08
TBATBA Cap San Vincent 430W Q0933 301330-16/07 Geona (ME 2)
TO LOAD FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS
In Port 30/07 Haian West 24024W Q0906 301211-14/07 SeaLead SeaLead Shpg./ Aliaga, Gebze, Gemlik, Istanbul, Mersin, EL Dekheila, Casablanca, 09/0710/07
01/0802/08
TBATBA A Daisen 24025W Q1025
Giga Shpg. Venghazi, Algier, Raves, Constanta, Thessaloniki, Piraeus, Barcelona, Valencia, Misurata (West Asia Red Sea Med - WARM)
TBATBA Sheng Li Ji 0524W Akkon Lines Oasis Shpg Aliaga, Gemlik, Gebze, Ambarli, Felixstowe, Antwerp (TIN)
HMM Shpg. Jeddah, Damietta, Piraeus, Genoa, Valencia, Barcelona, Valencia, Seabird CFS (FIM West Bound) ONE Line ONE (India) Barcelona, Genoa, Piraeus, Damietta, Algeciras
TO LOAD FOR BLACK SEA, EAST EUROPE & C.I.S PORTS from
VESSELS DUE AT
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 01/0802/08 31/07 1000 MSC Silvana IU430A Q0976 1097431-22/07 MSC MSC Agency New York, Charleston, Huston, Freeport. Hind Terminals
07/08
MSC Antonia IU431A Q0144 1098120-29/07 Kotak Global Kotak Global US East, West & Gulf Coast (INDUS)
02/0803/08 02/08 0900 MSC Roma IP431A Q0985 1097528-23/07 MSC MSC Agency Boston, Philadelphia, Miami, Coronel, Guayaquil, Cartagena, Hind Terminals
Puerto Cabello, Puerto Angamos, Iquique Santiago De Cuba, Mariel (EPIC / IPAK)
Globelink Globelink WW USA,Canada,Atlantic & Pacific,South American & West Indies Ports. AMI Intl. AMI Global South American Ports Via Antwerp (Only LCL). Dronagiri-3 Safewater Safewater Line US East Coast, South & Central America
10/0811/08 10/08 1100 MSC Altair IS430A Q0962 1097282-20/07 MSC MSC Agency Baltimore,Boston,Philadelphia,Miami,Arica,Buenaventura, Hind Terminals 14/0815/08 14/08 1100 MSC Renee IS431A Callao, La Guaira, Paita, Puerto Cabello, Puerto Angamos, Iquique, 24/0825/08 24/08 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
In Port 30/07 One Modern 071W Q0903 301168-13/07 ONE Line ONE (India) New York, Jacksonville, Savannah, Charleston, Norfolk 07/0808/08 TBATBA San Diego Bridge 070W Q1016 HMM HMM Shpg. (WIN/IAX) Seabird CFS 31/0701/08 30/07 2200 APL Phoenix 0MXK1W1 Q0943 301433-17/07 CMA CGM CMA CGM Ag. New York, Norfolk, Savannah, Miami, Santos, Dron.-3 & Mul. 07/0808/08 TBATBA Belita 0MXK3W1 Q1036 1097891-26/07 ANL CMA CGM Ag. Itajai & other North American Ports. Dron.-3 & Mul. 14/0815/08 TBATBA Yantian Express 4332W COSCO COSCO Shpg. Hapag ISS Shpg.
OOCL Luxembourg 111E Q0993 1097555-23/07
20/0821/08 TBATBA Stratford 131E Q1009
East Coast & Other Inland Destinations.
RCL Ag
East Coast & Other Inland Destinations. 24/0825/08 TBATBA Xin Da Yang Zhou 095E COSCO COSCO Shpg. US West Coast.
27/0828/08 TBATBA Pusan 33E Yang Ming Yang Ming(I) US West Coast. China India Express III - (CIX-3)
04/0905/09 TBATBA Aka Bhum 023E
Dimitris Y 246E Q0992
TO LOAD FOR USA, CANADA, ATLANTIC, PACIFIC, SOUTH AMERICAN & WEST
VESSELS DUE AT NSFT/NSICT/NSIGT/GTI/BMCT
TO LOAD FOR WEST ASIA GULF PORTS From NSICT
Maersk Virginia 431W Q0931 301326-16/07 Maersk Line
TBATBA EF Emma 967W Q0910 301282-15/07 ONE Line ONE (India) Jebel Ali.
13/0814/08 TBATBA AS Sicilia 936W Q0991 1097550-23/07 UnifeederUnifeeder Jebel Ali. (MJI)
TBATBA X-Press Carina 432E Sinokor/Heung A Sinokor India Port Kelang, Singapore, Qingdao, Xingang, Pusan Seabird CFS
31/0701/07 31/07 1200 Ital Unica 177E Q0847 1096185-06/07 Wan Hai Wan Hai Lines Port Kelang, Singapore, Kaohsiung, Hongkong, Shekou. Dronagiri-1 02/0803/08 02/08 1000 Wan Hai 521 E025 Q0924 301310-15/07 Evergreen Evergreen Shpg. BalmerLaw.CFSDron. 06/0807/08
TBATBA Dimitris Y 246E Q0992 ONE Line ONE (India) Port Kelang, Singapore, Laem Chabang, 18/0819/08
TBATBA One Reliability 006E X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang. 19/0820/08
TBATBA Cap Andreas 013E Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri 25/0826/08
TBATBA X-Press Anglesey 24031E RCL RCL Ag. Port Kelang, Singapore, Laem Chabang. (TIP Service) HMM HMM Shpg. Port Kelang(N), Port Kelang(W), Singapore. Seabird CFS
TO LOAD FOR FAR EAST, CHINA & JAPAN PORTS from BMCT
In Port 30/07 Zhong Gu Nan Ning 2404E Q0868 300934-09/07 ONE Line ONE (India) Port Kelang, Hongkong, Shanghai, Ningbo, Shekou 03/0804/08 TBATBA One Matrix 090E Q0949 301469-17/07 X-Press Feeders SeaConsortium (CWX/CIX5)
TBATBA Pusan 33E TS Lines TS Lines (I) Australian Ports. Dronagiri-2 (CIX-3) Austral Asia MCS (I) Port Lae, Port Moresbay, Madang, Kavieng, Rabaul, Honiara Dronagiri-3 Team Lines Team Global Log. Australia & New Zealand Ports. Conex Terminal
08/0809/08 TBATBA Dimitris Y 246E Q0992 ONE Line ONE (India) Sydney, Melbourne, Fremantle, Adelaide, Brisbane, Auckland, Lyttleton.
Centre zeroes in on 12 spots for new Industrial Hubs along Freight Corridors
NEW DELHI: Gaya, Koparthy and Or vakal may have hogged the limelight due to the focus on packages for Bihar and Andhra Pradesh in the Union budget, but others, including those in opposition-governed states, are part of the Centre’s latest push to create new industrial hubs.
From Punjab and Haryana to U t t a r P r a d e s h , U t t a r a k h a n d , Telangana and Maharashtra, govt has identified 12 locations for new industrial cities along freight and highway corridors, Rajesh Kumar Singh, Secretary for industrial promotion and internal trade, said.
Govt has come under attack from opposition parties for “favouring” Bihar and Andhra, with JDU and TDP as BJP’s coalition partners and ignoring the interests of others –a charge that has been denied by f i n a n c e m i n i s t e r N i r m a l a Sitharaman.
“We will be seeking cabinet clearance for them soon. We are looking at an investment of Rs 10,00012,000 crore for creating trunk infrastructure and will then offer plots t o c o m p a n i e s , ” S i n g h s a i d ,
adding that the model is the same as was followed in earlier cases
W h i l e D h o l e r a ( G u j a r a t ) , Vikram Udyogpuri (MP), Shendra Bidkin (Maharashtra) and Dadri had been taken up in the first phase when the DelhiMumbai industrial corridor w a s c o n c e i v e d 1 5 y e a r s a g o , similar nodes are coming up in Krishnapatnam (Andhra), Tumakuru (Karnataka), Nangal Chaudhary (Haryana) and Greater Noida (UP).
Typically, these projects take 10-15 years to be fully developed, including allotment of land, but Singh said that in several new cases, things will move quickly as they are already around large cities.
But from the initial phase when Dholera and Shendra Bidkin were sought to be developed as completely new cities, the newer projects are seen to be on a smaller scale, focusing on creating logistics hubs or industrial clusters.
Some of the newer projects will be along the Amritsar-Kolkata industrial corridor, which is running woefully behind schedule given that land was not acquired by the West Bengal govt.
Singh also said that govt intends t o c o r r e c t t h e i n v e r t e d d u t y str ucture for sectors such as
department will take up the issue with the revenue department, which handles the import duty. Inverted duty refers to the duty structure where finished products attract lower duty than inputs and r a w
complications for manufacturers
In the budget, Sitharaman has attempted to revise some of the tariffs with inputs sought for further
consultations on the issue will be held soon.
He also said that the abolition of angel tax will boost the startup ecosystem, by helping with funding, and also support foreign direct investment flows into the country
promotion and internal trade is also undertaking a review of the FDI norms and procedures, and Singh said the idea is to ensure that the approvals, wherever required, come quickly
DFCCIL to enhance freight capacity with new Corridors by 2025
NEW DELHI: Ravindra Kumar Jain, Managing Director of the Dedicated Freight Cor ridor
C
o r p o r a t i o n o f I n d i a L t d . (DFCCIL), has announced that detailed project reports (DPRs) for new freight corridors have been submitted to the Railway Board.
The proposed corridors include:
1. The East Coast Freight Corridor from Kharagpur (West Bengal) to Vijayawada (Andhra Pradesh)
2. The East-West Corridor from Kharagpur to Palghar (Maharashtra)
3. The North-South Freight Corridor from Vijayawada to Itarsi (Madhya Pradesh)
Spanning a combined distance of 4,300 kilometers, these projects are expected to cost around Rs 2,00,000 crore. These corridors will cater to specific commodities and cover crucial regions of the country.
Two major multilateral agencies, the Japan International Cooperation Agency (JICA) and the World Bank, have shown interest in funding these projects. Although the railways have sufficient infrastructure funds, additional support from these
agencies remains a viable option.
Jain highlighted the progress of the current Dedicated Freight Corridor (DFC), which is nearly complete at 96.4 percent. This 2,843km corridor spans the Eastern and Western arms, traversing 56 districts in seven states, with a 60 percent increase in traffic over the past year. Jain mentioned that 93.2 percent of the Western Dedicated Freight Cor ridor (WDFC) is finished, including feeder routes to various ports Around 100 km remain incomplete, with 50 percent of this segment already done. The entire stretch is expected to be operational by December 2025, with contracts issued to ensure timely completion.
Currently, over 320 trains run daily on the DFC, with 200 on the Eastern DFC and 120 on the Western DFC. Jain anticipates this number to rise to 400 by year-end The DFCs have created significant line capacity, with 40–50 percent currently utilized and the potential to increase to 150 percent. Each corridor can handle 120 trains in each direction, totaling 480 trains.
DFCCIL is expanding its scope beyond traditional cargo like coal, perishables, and auto parts to include e-commerce and LNG container movement. The organization is also exploring ‘Over Dimensional Cargo’ (ODCs) and plans to start automobile transport along the Western DFC from Surat to Kanpur and beyond. Prime Minister Narendra Modi inaugurated the DFC network on December 12, 2020, calling it a game changer for India in the 21st century and a catalyst for rapid national development.
The DFC project aligns with the National Rail Plan, which aims to increase the railway’s modal share in India from 28 percent to 44 percent by 2051 It also supports the National Logistics Policy, aiming to reduce logistics costs from 15 percent of GDP to 8 percent by 2030.
These Dedicated Freight Corridor projects will unlock economic potential and decongest the saturated road network by promoting a shift to a more efficient rail transport system, significantly reducing highway congestion.
Commerce Secretary : Need for strengthening multilateral trading system
MOSCOW: Commerce Secretary Shri Sunil Barthwal attended the 14th BRICS Trade Ministers’ Meeting held on 26 July 2024 under the BRICS Presidency of Russian Federation The theme of BRICS this year is “Strengthening Multilateralism for Just Global Development”. While congratulating the Russian Presidency for the bringing in proposal on contemporary issues, Shri Sunil Barthwal, welcomed the new members of BRICS (Iran, Egypt, Ethiopia and UAE) and congratulated them on their fruitful participationindiscussions,thisyear
The Commerce Secretary expressed the need for strengthening multilateral trading system with WTO at its core, effective functioning of Joint Value Chains, expanding interaction among MSMEs, India’s successful story on Digitalization and e-commerce and the relevance of cooperation among Special Economic Zones.
The Commerce Secretary also mentioned the importance on MSME related developments and their integration with the Global Value Chains.
While re-iterating the Jaipur call for action for enhancing access to information for MSMEs issued during India’s Presidency in 2023, he lauded the Russian Presidency for carrying forward the initiative by making efforts to compile certain basic information pertaining to MSMEs among the BRICS members. As MSME’s are an integral part of the BRICS Members, Commerce Secretary stressed on the importance of cooperation and collective efforts for outcome oriented support for MSMEs. He expressed the need to focus on key areas like, exploring cooperation in the form of Research and Development, Technology transfers and joint Ventures as well as the Business development opportunities.
In conclusion, Commerce Secretary laid stress upon the importance of collaborative efforts and commitment along with resilience, unity and transparency to face challenges under the principles of compassion, empathy and understanding, for a common brighter future of BRICS countries.
SHIPPING MOVEMENTS AT GUJARAT PORTS
TODAY’S TIDE 30/07/2024
Cargo Steamer's Agent's ETD
Jetty Name Name
CJ-I Imari DBC 01/08
CJ-II MO Joud DBC 31/07
CJ-III Ocean Ambition
CJ-IV Della Synergy Seaport 31/07
CJ-V Al Yasat III
CJ-VI Al Wathba Dariya Shpg. 03/08
CJ-VII Jabal Hafit JMBaxi 02/08
CJ-VIII VACANT
CJ-IX Jabal AR Rawdah GAC Shpg. 01/08
CJ-X Behdokht Genesis 02/08
CJ-XI VACANT
CJ-XII VACANT
CJ-XIII Ince Ilgaz Arnav Shpg. 03/08
CJ-XIV Propel Grace Cross Trade 01/08
CJ-XV Mercurius Arnav Shpg. 31/07
CJ-XVA SW South Wind Synergy Seaport 01/08
CJ-XVI Bao Run Cross Trade 04/08
TUNA VESSEL'S
OJ-I Telendos
OJ-II Ginga Saker GAC Shpg. 31/07
OJ-III Penna JMBaxi 31/07
OJ-IV Soprano Serene
OJ-V VACANT
OJ-VI Regency Malara Shipping 31/07
OJ-VII Seapromise Interocean 31/07
SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.
Sweet Lady III 28/07 Cotonou
Golbon (IIX) 28/07 Bandar Abbas
Asi M 28/07 China
Jin Ji 28/07 China
Cetus Cachalot 29/08 Korea
TCI Express 012 29/08 Manglore/ Cochin/Tuticorin
Artenos 30/07 Bandar Abbas/Jebel Ali/ Constanta/Chabahar
Lila Chennai 30/07
AS Alexandria 30/07 Pipavav/Cochin/ Tuticorin/Kattupalli
Hai Phoung 87 30/07
Eraclea 30/07
Kaptan
Ilyas
VESSELS IN PORT & DUE FOR EXPORT LOADING
Stream ABK Tiger
Stream Adonnis DBC Berbera
Stream African Leopard Aditya Marine USA
CJ-XVI Bao Run Cross
Stream Bow Clipper GAC Shpg.
Stream Cariboo Cross Trade
Stream Common Venture BS Shpg. Cotonou
31/07 Han Yi Parekh Marine Umm Qasr 194 T. Proj Cargo (4 Pkgs)
Stream Gramba Upasana Shpg.
31/07 Jahan Moni Samudra
VESSELS IN PORT & DUE FOR IMPORT DISCHARGE
30/07 African Quail
GENERAL CARGO VESSELS
CJ-X Behdokht Genesis
02/08 Curia Dariya Shpg.
Stream Dina Ocean Mihir & Co.
31/07 Han Yi Parekh Marine
T. Petcoke In Bulk
INIXY124070253
CJ-I Imari DBC Japan 3,062/1,715/38 T CRC/ INIXY124070144 S.BARS/Proj Cargo
CJ-XIII Ince Ilgaz Arnav Shpg. Ukrain 67,959 T. Yellow Maize In Bulk INIXY124070137
CJ-IX Jabal AR Rawdah GAC Shpg. Singapore 59,903 T. Petcoke In Bulk INIXY124070212
CJ-VII Jabal Hafit JMBaxi Indonesia 60,500 T. Petcoke In Bulk INIXY124070181
Stream Lorient GAC Shpg. 77,000 T. Coal INIXY124070242
Stream Maple Tulip Dariya Shpg. 21,114 T. Scrap In Bulk
30/07 Pacific Pride Dariya Shpg. Indonesia 58,300 T. Indo Steam Coal In Bulk
CJ-XIV Propel Grace Cross Trade
31/07 TCLC Quanzhou Dariya Shpg.
01/08 Twinluck SW Benline
CBM Logs INIXY124070003
T. Coal In Bulk
T SteeL Scrap In Bulk INIXY124070252
LIQUID CARGO VESSELS
Stream
OJ-II Ginga Saker GAC Shpg.
Stream GW Dolphin Interocean
30/07 Fortune Jiwon Samudra
30/07 Hafnia Violette JMBaxi
30/07 Moonbeam Marinelinks
30/07
Seaspan Ganges (V-4130) Hapag Llyod Nhava Sheva
Port Kyoto Express (V-4328W) Hapag Llyod Nhava Sheva
TBA Asyad Line Seabridge Marine Haiphong, Shekou, Laem Chabang, Port Kelang (FEX1)
TBA Asyad Line Seabridge Marine Haiphong, Shekou, Laem Chabang, (FEX) TO LOAD FOR INDIAN SUB CONTINENT
In Port —/— GFS Giselle 2408 4072606 Global Feeder Sima Marine Karachi (CSC)
03/08 03/08-AM Maersk Cardiff 429W 4072456 Maersk Line Maersk India Tema, Lome, Abidjan (MW2 MEWA) 04/08
TBA Asyad Line Seabridge Marine Karachi (REX)
CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE
In Port GFS Giselle (V-2408) 4072606 MBK Logistix Nhava Sheva In Port UASC Zamzam (V-429W) 4062450 Maersk India Jebel Ali 30/07 Wan Hai 506 (V-6234E) 4072672 Wan Hai Line Nhava Sheva
