MUM-31-07-2023

Sarbananda Sonowal updates on capacity of Major Ports

NEW DELHI: The Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal recently informed the Parliament that, infrastructure development in the Port Sector is a continuous process The process inter-alia involves the construction of new berths and terminals, mechanization of existing berths and terminals, capital dredging for deepening drafts for attracting large vessels in port channels, development of road and rail connectivity etc., help in increasing the capacity of Major Ports. As a result, the cargo handling capacity of the Major Ports has been steadily going up The cargo handling capacity of Major Ports as on 31.03.2023 is 1617 MTPA, which is sufficient to handle the existing cargo traffic at the Major ports.

Under PM Gati Shakti, DPIIT prepared a Comprehensive Port Connectivity Plan (CPCP) in consultation with Ministry of Ports, Shipping and Waterways, Ministry of Railways, Ministry of Road Transport & Highways and State Maritime Boards in September, 2022. CPCP incorporates 298 connectivity projects of which 191 projects (101 road and 90 rail). These projects are aimed at enhancing last mile and hinterland connectivity of ports, which in turn will enhance the port efficiency, enabling the ports to handle morecargo.

These road and rail infrastructure gap projects are primarily undertaken by the Ministry of Railways and MinistryofRoadTransport&Highwaysonapriority.

WTO members facilitate Imports, reduce trade restrictions, but Food Export curbs persist

GENEVA: The Director-General’s mid-year report on trade-related developments shows that WTO members continued to facilitate imports and generally exercise restraint in the use of trade-restrictive measures from midOctober2022tomid-May2023.However,whilethenumberof export restrictions on food, feed and fertilizers has come downsubstantially,manysuchmeasuresremainedinplace, contributing to supply uncertainty and price volatility.

Director-General Ngozi Okonjo-Iweala urged members to worktogethertodeliverresultsatthe

13th Ministerial Conference (MC13) that strengthen the WTOandensuretradecontinuestofostergrowth,resilience andprosperity.

Speaking at the launch of the report, DG Okonjo-Iweala said:

“The fact that WTO members have been taking more steps to facilitate imports illustrates how trade is a valuable tool for pushing back against inflationary pressures.”

Pointing to the introduction of export restrictions on food, feed and fertilizers since the start of the war in Ukraine in

February 2022, DG Okonjo-Iweala noted that several such restrictionshavebeenphasedout.

During the review period, WTO members introduced 182 new trade-facilitating and 110 trade-restrictive measures on goods unrelated to the pandemic. Most tradefacilitating measures were import measures and most trade-restrictive measures were export measures. For the third time since the beginning of the Trade Monitoring Exercise in 2009, the number of new export restrictions has outpacedthatofimportrestrictions.

The trade coverage of trade-facilitating measures introduced during the review period was estimated at USD 703.7 billion (down from USD 1,160.5 billion in the last report) and that of trade-restrictive measures at USD110.5billion(downfromUSD278.0billion).

The stockpile of import restrictions in force remained important, with no sign of any meaningful roll-back of existingmeasures.Bytheendof2022,9.2%ofglobalimports wereaffectedbyimportrestrictionsimplementedsince2009 andwhicharestillinforce.

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

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,

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.

FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from GTI

TO LOAD FOR U.K., NORTH CONT., SCANDINAVIAN, RED SEA & MED. PORTS from BMCT

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

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

TO

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

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

TO LOAD FOR WEST ASIA GULF PORTS From NSICT

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.

LMT Orchid Gulf Ports.

Line Freight Conn. Port Sudan & Al Sokhna

ICC Line Neptune UAE & Upper Gulf

FOR

ASIA GULF PORTS From NSIGT

GULF PORTS From BMCT

TO LOAD FOR INDIAN SUB CONTINENT from BMCT

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

TO LOAD FOR

PORTS from NSICT

21/0822/08

TBATBA Ever Ethic 162E

28/0829/08 TBATBA Shimin 15E

02/0905/09 TBATBA Wide Alpha 238E

11/0912/09

Ever Eagle 174E

CISC Service

Unifeeder Feedertech/TSA Qingdao, Shanghai, Ningbo.

Balmer Law. CFS Dron.

Dronagiri

PIL/ONE PIL India/One(I) —/—

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

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

RCL/Global Fdr. RCL Ag./Sima Marine Port Kelang, Ho Chi Minh City, Laem Chabang 17/0818/08

Pearl 2329E P0783

Lines/KMTC Seahorse/KMTC(I) (VGX)

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

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

Pluto 0031E P0821 277206-18/07 HMM HMM Shpg. Port Kelang, Singapore, Laem Chabang, Caimep, Kaohsiung, Seabird CFS

21/0822/08 TBATBA Hyundai Oakland 0124E

27/0828/08 TBATBA Hyundai Singapore 0139E

Maersk Line Maersk India Pusan, Indonesia, Thailand, Vietnam & Other Indland Destination. Maersk CFS

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)

Singapore, Kwangyang, Pusan, Shanghai, Ningbo Ocean Gate Sinokor Sinokor India Port Kelang, Singapore, Hong Kong, Kwangyang, Seabird CFS Busan, Shanghai, Ningbo & Other Inland Destination.

Gold Star Star Ship

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

TO LOAD FOR AUSTRALIA & NEW ZEALAND PORTS from GTI

PORTS from NSFT

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

UP Inland Waterways Authority to be formed for expansion of Water Transport : CM Adityanath Yogi

LUCKNOW: Stressing that waterways transport will be expanded in the state, Uttar Pradesh Chief Minister Yogi Adityanath recently said an inland waterways authoritywouldbesetupintheStatefor thepurpose.

The Chief Minister discussed the development of waterways in the state at a high-level meeting and also gave necessary directions regarding the setting up of Uttar Pradesh Inland Waterways Authority, an official release issuedheresaid.

Theexpansionofwaterwaystransport in Uttar Pradesh is progressing rapidly and the National Waterway from Prayagraj to Haldia is operational, Adityanath said. There are immense possibilitiesforbothpassengerandcargo transportation in inland waterways in the state,whichneedstobeexpandedfurther, theChiefMinistersaid.

Adityanath said UP is a land of perennial rivers, with most rivers having sufficient water throughout the year. The formation of the inland waterways authority in the state

should study the functioning of the National Waterway Authority and similar systems in other states and presentrelevantproposals,hesaid.

Theauthoritywillfunctionasanodal authority coordinating with the Indian Inland Waterways Authority and it will regulate all activities related to it, the CM said. The Transport Commissioner of the state should be designated as the CEO of the authority and officials from departmentsrelatedtofinance,culture, irrigation, and forestry, among others, shouldbeincludedasmembers,hesaid.

India will consider PLI Scheme for chemicals and petrochemicals : FM Nirmala Sitharaman

NEW DELHI: The Indian Government will consider introducing a production-linked incentive (PLI) Scheme for chemicals and petrochemicals to encourage domestic manufacturing of these products, Finance Minister Smt Nirmala Sitharaman said.

“We are in favour of having India becoming a manufacturing hub and, of course, we’ll consider the PLI also for chemicals and petrochemicals,” Sitharaman said at the Summit on

Global

Chemicals and Petrochemicals

Manufacturing Hubs in India organised by the Department of Chemicals & Petrochemicals with the Federation of Indian Chambers of Commerce and IndustryonJuly27.

Exports,Imports

The Government has so far announced 14 PLI schemes – aimed at encouraging local manufacturing and cutting imports – for sectors including telecommunications, electronics, white goods,textilesandpharmaceuticals.

India’s combined exports of chemical and petrochemicals rose 2 percent to $9 billion in FY23 (till September 2022), the Minister said. Imports in this sector increased to $13.33billion.

The Minister said that the importance of the chemicals and petrochemicals sector can be gauged from the fact that it manufactures 80,000 products that directly impact many sectors including construction, packaging,textilesandagriculture.

Ports to clock 4%-5% volume growth in FY24 amid multiple headwinds : India Ratings

Cont’d. from Pg. 3

Notably, India’s overall Logistics Performance Index (LPI) rank improved significantly in 2023 despite disruptions in global shipping supply chains due to the COVID-19 pandemic. The LPI ranking climbed to 38 from the previous survey’s rank of 44 in 2018. Ind-Ra credits this achievementtostrategicinvestments in infrastructure, supply chain digitalization, containerization of cargo, and efficient rail and road connections linking major ports on bothcoasts.

Theaveragedwelltime,indicating the time containers spend in Indian ports between May and October 2022,

was recorded at an impressive three days, equivalent to Singapore, the top-ranked country in the LPI Index. These measures have considerably enhanced the efficiency of Indian ports and bolstered their performanceinglobaltrade.

As trade lines have been re-established, container freight ratesreturnedtopre-pandemiclevels in the second half of FY23. Ind-Ra’s FY24Outlook:Logisticssuggeststhat normalization is likely to continue in the third and fourth quarters of FY24. The stability in freight rates is expected to bolster foreign trade, resulting in higher cargo volume growth and improved earnings and

profitabilityforIndianportoperators.

DuringFY23,India’smerchandise exports recorded a notable growth of 6.9% year-on-year, amounting to $451 billion. However, total export volumes fell 13% year-on-year, reaching 16.1 billion tonne. The signs of slowdown in the EU and US economies mirror the deceleration in theirforeigntradewithIndia.

In FY23, the combined EU and US trade formed 33% and 15% of India’s total export value and import value in USD terms, respectively. A prolonged slowdown or a potential recession in these geographies might present challenges for India’s cargo volume growth,particularlyintermsofexports.

India-US trade likely to rise 60 % to USD 300 bn by 2026-27: PHDCCI report

NEW DELHI: The trade between India and the US is likely to touch USD 300 billion in 2026-27 from USD 188 billion in 2022-23, with about 60 per cent rise in value, according to a report by industry body PHDCCI. The report titled The India-US Bilateral Relations: Steady Strides into the Future” was produced by the ResearchBureauofPHDCCI.

The volume of exports

(merchandise and services combined) from India to the US has increased from USD 82 billion in the financial year 2018-19 to USD 111 Billion in 2022-23.The volume of imports (merchandise and services) from India to the US has increased from USD 58 Billion in 2018-19 to USD 76 Billion in 2022-23, stated the industrybodyinthereport.

India and the US, the two largest

democracies, are not only collaborating closely in trade but also possess common interests in promoting global economic prosperity which is evident from the strong bilateral cooperation between them in forums like G20, Quad, and IPEF (Indo-Pacific Economic Framework for Prosperity), said Saket Dalmia, President, PHD Chamber of CommerceandIndustry.

A SWIFT system tailored to push Rupee trade globally on cards

NEW DELHI: India is looking to set up its own international financing messaging system along the lines of SWIFT (Society for Worldwide Interbank Financial Telecommunications), the channel used worldwide to transfer funds and securitiesacrossborders.

The proposal is a part of the Government's bigger plan to internationalise the Indian currency. The system will help settle bilateral tradeinrupees.

Anexpertcommitteeofbankersis exploring options and is expected to submitfindingstotheGovernmentby August,accordingtoofficialsawareof the matter. The committee members are drawn from the State Bank of India, Bank of Baroda, Bank of India and Central Bank of India among others.

An official said the committee will look at the RBI's existing platform, the Structured Financial Messaging System,orSFMS.

Indiannancialnetwork

'We have to explore how we can scalethisup,'hesaid.

Built on the lines of SWIFT, the SFMS can be used for secure communications within and between banks. In its 2022 Vision Document, the RBI also made a case for expandingtheambitoftheSFMS.

'The feasibility of providing membership/technology of Infinet to other jurisdictions shall be explored,' it noted. 'Further, it shall be explored to expand the framework of SFMS to provide a domestic payment system platform to other jurisdictions. This could be expected to provide faster, convenient, and cost-effective

direct payment channels with other jurisdictions.'

The Indian Financial Network (Infinet)isamembership-onlyClosed User Group network that comprises the RBI, CPS (Centralised Payment System) member banks and financial institutions. It provides financial messaging services through its member interface application to all RTGS (Real Time Gross Settlement) participants.

The Government has been pushing banks to conduct outreach programmes with the international trading community to promote trade using special rupee vostro accounts (SRVAs).

So far, 20 banks from 22 countries have opened 92 such accounts, including Bangladesh, Germany andRussia.

m.v. “COSCO THAILAND” V-094 (ODJ - 38/E)

The above vessel has arriving at BMCT on 01/08/2023 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.

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m.v. “SYNERGY OAKLAND” Voy- 15E I.G.M. No. 2350622 Dtd. 28-07-2023

The above vessel is arriving at NHAVA SHEVA (BMCT) on 31-07-2023 with import cargoes from ports BUSAN, HOCHIMINH, INCHEON, JAKARTA, KOBE, NAGOYA, NINGBO, OSAKA, SHANGHAI, SHEKOU, SINGAPORE, TOKYO, YOKOHAMA, ZHANGJIAGANG also transshipment cargo of following Ex. Mother vessels:

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GatiShakti is well-developed Logistics and Supply Chain network to boost India's economy: MoS Commerce

NEW DELHI : PM GatiShakti aims to build a well-developed logistics and supply chain network, which will allow goods to flow seamlessly across borders and increase access to global markets, said Mr. Shri Som Parkash, Union Minister of State for Commerce & Industry at the National Conference on Gati ShaktiBoosting connectivity for New India: Logistics – Warehousing - Supply Chain" organised by the Associated Chambers of Commerce and Industry of India(ASSOCHAM).

While addressing the conference Mr.ShriSomParkash, Union Minister of State for Commerce & Industry, Government of India said that states/ Union Territories of the country are extensively using the PM GatiShakti approach for planning connectivity to Industrial Regions; for deciding on location of social infrastructure assets, such asschools,hospitals,etc.

ShriParkashcomplementedPMGatiShaktiNMP,National Logistics Policy that aims to bring efficiency in logistics services and human resources. The Policy aims to reduce the cost of logistics, improve India’s ranking in Logistics Performance Index, enabling data-driven decision support mechanismforanefficientlogisticsecosystem.

This is a strong indicator of India’s global positioning, with this development being powered by our government’s laser focus on reforms for improving logistics infrastructure through PM GatiShakti and National Logistics Policy,” he said.

Mr Rajesh Pandit, Managing Director, GWS India, PM - India, Middle East, Southeast Asia and North Africa, CBRE said "As the Gati Shakti Master Plan unfolds, its core focus on enhancing logistical efficiency and strengthening connectivity is expected to drive strategic growth nationwide. Subsequently, as logistics infrastructure improves, there will be a surge in demand for warehousing, distribution centers, and industrial parks, presenting compelling opportunities for mixed-use developments and retail spaces. The plan's concerted efforts to enhance

multi-model connectivity will unlock the untapped potential, fostering inclusive economic growth and propelling India towardsapromisingfuture.

Beyond its transformative impact on infrastructure and logistics, the Gati Shakti Master Plan also holds the potential to significantly increase employment opportunities across the country. As the plan forges ahead, CBRE, wholeheartedly supports the Government's Gati Shakti initiative and iscommittedtocontributingtoitsresoundingsuccess”.

ShriYuvrajSharma,ClusterHead–Sales&Marketing India, Sri Lanka and Maldives, Kuehne+Nagel Group stated Indian logistics market is expected to be close to $425 million and a growth with 8.5% rate in the next 17 years. He highlighted that the Biggest superpower under GatiShaktiarevisibilityofcargoandwaterwaynavigation.

Lt. Col. Jitender Yadav, Founder, Pragati Group said India has risen 6 points in world logistics performance index. Point of concern of the logistic course is that it is 15% higher comparatively to a developed nation with 7-8 %. Warehousing sector development faces problems like land acquisition and landcosts.

Mr. Christian Kapfensteiner, Director, Sustainable Urban and Industrial Development, Deutsche Gesellschaft für technische Zusammenarbeit (GIZ) GmbH, India said multi model connectivity should be implemented to develop infrastructure to reduce logistics cost. Larger focus should be on Digitalization, Connectivity, Delivery Time, Tax incentives, and Skill development to sustainthesector.

A joint Knowledge report was released by ASSOCHAM and CBRE by eminent dignitaries and industrialists on the themeGatiShakti:BoostingConnectivityforNewIndia.

Cont’d. from Pg. 3

Addressing the ‘FICCI Warehousing and Supply Chain Summit’, Ms Dawra stated that the logistics and warehousing industry will have to play a pivotal role to help achieve the larger objective of the PMGS-NMP which is focussed on making India a developed economy by 2047. “Better warehousing not only makes the manufacturing sector more efficient but also brings more investments, makes supply chain more resilient and generates more economicvalue,”sheadded.

Ms Dawra also alluded to various Government initiatives like PM Gatishakti, digitalization, big data analytics and multimodal logistics parks to support the industryinitsendeavourtobegloballeader.

Citing the example of Jogighopa multimodal logistics park (MMLP) situated at the banks of Brahmaputra in Assam, Ms Dawra talked about how different forms of transport i.e., railways, highways and waterways are being utilized in bringing efficiency in logistics, reduce travel time andsavecosts.

MrAmitKumarSingh,ManagingDirector&Director (M&CP), Central Warehousing Corporation said, "Cost effectiveness, reliability, resilience and sustainability arethefoundingstonesofanyefficientsupplychain.Indiahas done a fairly good job in creating warehouses for foodgrains; however, we still lag in developing warehousing for other sectors. The domestic warehousing sector is scattered and therefore it is very difficult to bring any standardization. There is a huge opportunity of consolidation and standardizationinthedomesticcargoindustry.”

Mr T K Manoj Kumar, Chairman, Warehousing Development and Regulatory Authority (WDRA) said, "Standardization and digitalization will carve out definitive solutions most of the problems faced by the warehousing industry in the country. The logistics policy of the Government of India has clearly defined the goals for the industry. WDRA is gradually working towards bringing uniformity and digitalization in the Indian warehousing industry.”

Mr Sachin Bhanushali, Advisor, FICCI Logistics Committee & Former CEO Gateway Distriparks Ltd said, “The cost of logistics is a huge concern for the Indian industry;however,thereliabilityofthelogisticsisanequally bigconcern.Railwayscanplayanimportantroleinbringing down the logistics costs in the country. It is time to adopt transformative approach to do the logistics and warehousingbusinessinthecountry”,headded.

"Logistics managers are concerned about the reliability inthedeliveryoftherawmaterialsandgoods.AlthoughGST has practically removed the interstate borders in terms of taxation,somemorechangesarerequiredontheregulatory side and the methodology in which the industry operates,” headded.

During the event, FICCI-Grant Thornton Knowledge Report titled Evolving Landscape of Warehousing and Logistics in India: A road to becoming third-largest economy by 2027 was released. The report assesses various logistics and warehousing market trends and key policies thatarehelpingtodefinetheindustryandthedevelopments anticipatedintheforthcomingperiod.

Warehousing & Logistics will play key role in making India a developed economy: Special Secretary (Logistics), DPIIT

m.v. “CMA CGM NORMA” V-0FF9AE1MA (ZIM VOY: RNQ 2E)

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India becomes 2nd largest exporter of Agrochemicals

NEW DELHI: The stellar performance on the export front is due mainly to Indian industry’s innovative technical capability to quickly introduce post-patent products at competitive prices in the market – domestic and global. Our scientists and engineers are amongthebestintheworld.

The Indian agrochemical industry fetches valuable trade surplus every year. The trade surplus sharply increased from Rs. 8,030 crores in 2017-18 to Rs. 28,908 crores in the last fiscal.

The USA is the largest buyer of Indian made agrochemicals followed by Brazil and Japan. This is a testimonytothehighqualityofIndian made agrochemicals which are used inover140countriesworldwide.

Globally the agrochemicals

market is estimated to be US$78 bn, almost 75% of this is of post-patent products. India is fast emerging as a preferred global hub for sourcing the post-patentagrochemicals.

In order to boost domestic production and to curtail imports, CropCareFederationofIndia(CCFI) has recommended certain measures to the Government of India to discourage import of ready to use pesticide formulations. “The association is of the firm opinion that the custom duty needs to be revised to 20% on technical and 30% andimportofformulationstomaintain adeltaofatleast10%betweenthetwo custom tariffs,” Harish Mehta, SeniorAdvisor, CCFIsaid.

Referring to India’s on-going discussions on Free Trade Agreements (FTAs) with the EU, UK

and others, Deepak Shah, Chairman, CropCareFederationofIndia(CCFI) cautioned against granting any TRIPs plus measures such as data exclusivity to the western MNCs as it would adversely affect the growth of India’s export-oriented agrochemical andpharmaceuticalindustryaswell.

Shah further said that Indian companieshaveinrecentyearsmade significant investments in establishing larger and new production facilities to cater to the domestic and global markets. Backward integration, capacity expansion and new registrations would foster the growth of Indian agrochemical industry. With favourable policy facilitations, the Indian agrochemical industry is confident of doubling exports in the nextthreeyears.

Ship Leasing sets sail from GIFT IFSC, First Ship leased

Ripley Shipping India leases first vessel from GIFT IFSC

GANDHINAGAR: Ripley

Shipping India IFSC Private Limited (‘RSIIPL’), which received acertificateofregistrationfromthe International Financial Services Centres Authority (IFSCA) in March 2023 to operate from the International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City), has recently imported andleasedthefirstship/vesselfrom its IFSC unit. MV Ripley Pride is a Bulk Carrier (Panamax) that was built in 2003 in Japan with carrying capacity of approx. 76,858 DWT. Thelengthoverall(LOA)ofthevessel is 225 meters and the width is 32.26 meters. This is the first ship/vessel cleared through GIFTIFSC.

Mr. Tapan Ray, MD and Group CEO of GIFT City, said, “The successful leasing of the first ship from GIFT IFSC exemplifies a pivotal breakthrough for the ship

leasinglandscapeinIndia.Thisevent highlights the immense potential for growth and investment in the maritime sector from Indian shores, positioningGIFTCityasadestination of choice for both domestic and international players seeking to capitalise on India’s ship leasing and financingopportunities.”

Shoumik Bose, Promoter and CEOofRipleyGroup, said, “We are pleased to embark on this journey from GIFT IFSC with the first ship leased.Weareveryexcitedaboutthe

trade-friendly regulations and the red carpet welcome by IFSCA, which was well-supported by SAFAL committee recommendations. The fast-track approvals from the SEZ Department and GIFT City authorities have ensured the timely completionoftheentiretransaction. We are thankful to the authorities and everyone at GIFT SEZ and IFSCA for all the support accorded to us. We are looking for more vessels/ships to be leased/chartered fromourGIFTIFSCunit.”

Ripley Group has a presence in various parts of the world, including India,UAE,andSingapore.

Each year, India is estimated to payaboutUSD75billionforseaborne freighttoforeignshippingcompanies. With the promotion of ship leasing and financing business from GIFT IFSC, India is poised to set a new benchmark in this segment inthetimetocome.

India and Iran are expecting to sign long-term deal on Chabahar Port

NEW DELHI: India and Iran are expected to sign a long-term deal for the development of Iran’s Chabahar Port by September before the Global Maritime India Summit 2023 scheduledinNewDelhiinOctober,two peoplefamiliarwiththemattersaid.

After years of negotiations, Delhi and Tehran are expected to sign a multi-year deal, allowing India to develop the Shahid Beheshti Terminal in the Chabahar port. In2016,IndiaPortsGlobalLtd(IPGL) and Arya Banader of Iran had signed acontracttodeveloptheport.

However, an official of the Ports Ministrysaidthecontoursofthelongtermdealwillbefinalizednextmonth, andanagreementwilllikelybesigned inSeptember.

Currently, India and Iran sign one-year contract extensions for developing and running the terminal at Chabahar Port. However, Indiahas been urging Tehran to commit to a longer-term pact, providing certainty for investment and development plans for the port designed by India. Along-termcontractfor10yearsmay alsoprovideforautomaticrenewal.

Negotiations on the long-term contract were earlier held up due to disagreements over the arbitration clause in the deal. Iran was earlier uncomfortable with clauses on international arbitration, given constitutional restrictions on taking disputes to foreign courts. However, both sides are set to reach a compromisesolutionallowingcasesto be taken to international arbitration courts in neutral locations such as SingaporeandDubai.Indiahadearlier suggested arbitration matters be takenupeitherinDubaiorMumbai.

SHIPPING MOVEMENTS AT DEENDAYAL PORT

TODAY’S TIDE 31/07/2023

VESSELS IN PORT & DUE FOR EXPORT

VESSELS IN PORT & DUE FOR IMPORT DISCHARGE

GENERAL CARGO VESSELS

SHIPS SAILED WITH NEXT EXPORT CARGOS DESTN.

LIQUID CARGO VESSELS

SHIPPING MOVEMENTS AT ADANI PORT

ADANI PORTS & SEZ LTD. (APSEZ) MUNDRA

SHIPS SAILED WITH EXPORT CARGO

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

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

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI INTERNATIONAL CONTAINER TERMINAL PVT LTD. (AICT)

TO LOAD FOR EAST, SOUTH & WEST AFRICAN PORTS

SHIPPING MOVEMENTS AT GUJARAT PORTS PORT PIPAVAV

OTHER PORTS OF GUJARAT

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSICT

MARSEILLE: The Board of Directors of the CMA CGM Group, a Global player in Sea, Land, Air and Logistics solutions, met recently under the Chairmanship of Rodolphe Saadé, Chairman and ChiefExecutiveOfcer, toreviewthe financial statements for the second quarterof2023.

Commenting on the results for the period, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said:“Asexpected,ourindustrycontinuedtonormalize in the second quarter and, despite difficult market conditions, our performance remains robust. In recent years, we have significantly strengthened our two strategic pillars: transport and logistics. On that basis, our Group will pursue its transformation, as it continues to expand and to integrate recently acquired subsidiaries, while stepping up investments to decarbonizeitsactivities”.

First-quarter 2023 trends remained at play in the second quarter of 2023, with deteriorated market conditionsinthetransportandlogisticsindustry.

Despite a rebound in demand for transport in the second quarter of 2023 compared with the previous quarter, driven by a degree of macroeconomic resilience and lower energy prices, the transport and logisticsmarketremainsdepressed.

Revenue stood at USD 12.3 billion in the second quarter of 2023, driven mostly by the Group’s shipping business. EBITDA came to USD 2.6 billion, 73% lower than in second-quarter 2022. EBITDA margin came in at 21.1%, down 28.1 points. Net income, Group share amounted to USD 1.3 billion. Financial resources net of debt totaled USD 3.8 billion at June 30, 2023, down USD 1,852millionfromDecember31,2022.

The Group continues to invest in supporting the energytransitionfortransportandlogistics:

- by maintaining its assertive investments to diversifytheenergymixwiththeaimofachieving

Net Zero Carbon by 2050, with over USD 14 billion invested in a fleet representing more than 100 LNGandmethanol-poweredships;

- by creating CMA CGM’s Fund for Energies with a budget of €1.5 billion over five years. Outlays of €430millionhavealreadybeencommittedtoaccelerate the energy transition across the Group’s worldwide sea,land,airandlogisticsactivities.

Shipping

Consolidated revenue from shipping operations amounted to USD 8.4 billion, down 47.9% from secondquarter2022.EBITDAtotaledUSD2.2billion,76%lower thanintheprior-yearperiod.EBITDAmargincameinat 26.2%, down 30.7 points. Average revenue per TEU amountedtoUSD1,491,down10.3%yearonyear.

Volumes remained buoyant on the North-South lines, but the Transpacific and Asia-Europe lines were hit by the slowdown in household consumption and dealerinventorydrawdowns.

In second-quarter 2023, the Group carried 5.60 million TEUs, down 0.3% on the second quarter of 2022 despite an 11.5% rebound compared with the first quarteroftheyear,reflectingtheseasonalnatureofthe businessbutalsoanupturnindemand.

Logistics

Revenue from logistics operations totaled USD 3.8 billion in the second quarter of the year. EBITDA stood at USD 356 million, a 4.7% increase on second-quarter2022.

The stability of the logistics business, in a context of declining trade, reflects both the slowdown in freight markets and the strengthening of the end-to-end supply chain services offered to CMA CGM Group customers through the acquisitions made since second-quarter 2022 of Ingram CLS, Gefco and ColisPrivé.

Freight management activities are impacted by the declining market. Contract logistics activities are recovering in Europe but remain generally affected by the weakness of the e-commerce segment, particularly in the United States. Finished Vehicle Logistics are performing well supported by favourable market dynamics due to the combination of persistent supply chaindisruptionsandstrongdemand.

During the second-quarter 2023 the CMA CGM Group submitted an offer to acquire Bolloré Group’s freight forwarding and logistics operations, which will strengthen CMA CGM’s logistics expertise in a wide range of high value-added sectors. CMA CGM’s logistics operations are set to rank among the world’s topfiveplayersintransportandlogistics.

OtherActivities

Revenue from other activities, which include port terminals and CMA CGM Air Cargo, fell to USD 474 million. EBITDA was USD 50 million, down 61.9%, mainly due to lower volumes in port terminalsandalessbuoyantairtransportmarket.

Outlook

Macroeconomic and geopolitical uncertainties and deterioratingtransportmarkets

Late2022trendscontinuedtoprevailinthefirsthalf of 2023, with deteriorated market conditions in the transport and logistics industry. Macroeconomic forecasts for the second half of 2023 anticipate sluggish global growth given the persistent inflationary pressures weighing on consumer spending as well as the measures taken by central banks in response, and geopolitical uncertainties. In light of uncertain demand, new capacity arriving on the market is likely to weigh on freight rates in shipping, particularly on East-Westlines.

The Group’s financial results continue to return to normal as indicated in the previous quarter. The Group is confident in its ability to weather the cycle thanks to its combined transport and logistics strategy and its financial strength. Given the inflationary environment, we are being particularly vigilant about keeping operating costs under control.

CMA CGM - Revenue stood at USD 12.3 billion in the second quarter of 2023