Mumbai Edition_01-04-2024

JNPA's New Milestone : Highest Throughput of 6.4 Mn

in 2023-24

Total traffic handled during FY 2023-24 is 85.4 MMT

NAVI MUMBAI: Jawaharlal Nehru Port Authority (JNPA), that handles India’s Largest Container Port, created the History when it registered its highest ever Throughput of 6.4 Mn TEUs (till 29th March) in 2023-24

This New Milestone was achieved under the Dynamic Leadership of Shri Unmesh Sharad Wagh, IRS, Chairman-in-Charge JNPA. Cont’d Pg. 29

Asian Box Lines launch joint Southeast Asia – India service

TAIWAN: Wan Hai Lines, Korea Marine Transport Co. and Interasia Lines will launch a new Southeast Asia – India Service VIII on 26 April. Cont’d Pg. 29

Shri Unmesh Sharad Wagh, IRS

from NSIGT

04/0405/04 03/04 1000 MSC Pamela IU413A P2898 294007-22/03 MSC MSC Agency Haifa. (INDUS) Hind Terminals

04/0405/04 04/04 1100 MSC Irene IS412A MSC MSC Agency U.K., North Cont., Scandinavian, Red Sea & Med Ports. Hind Terminals

10/0411/04 10/04 1100 MSC Aries IS413A

SCI CMT Barcelona,Felixstowe,Hamburg,Rotterdam,Gioia Tauro, 27/0418/04 17/04 1100 MSC Renee IS414A

U. K. North Continent & Other Mediterranean Ports.

Himalaya Express

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

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

ICC Line Neptune Felixstowe, Hamburg,Rotterdam & other Inland Dest. GDL-3 & Dron-3

GLS Global Log. U.K., North Continent & Scandinavian Ports. JWR

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genoa.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware

05/0406/04 05/04 0900 MSC Heidi IP414A P2943 1087398-27/03 MSC MSC Agency Antwerp, Le Havre, Rotterdam, Dunkirk, Felixstowe, Southampton, Hind Terminals 12/0413/04 12/04 0900 MSC United VIII IP415A Helsingborg, Gothenburg & Red Sea, Med, Gioia Tauro (D).

19/0420/04 19/04 0900 MSC Vilda X IP416A

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

COSCO COSCO Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports.

Indial Indial Shpg. U.K., North Cont., Scandinavian, Red Sea & Med. Ports.

Seahorse Ship U.K., North Continent, Scandinavian Ports & Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos.

Globelink Globelink WW U.K., North Continent, Scandinavian Ports & Ashdod, Piraeus, Thessaloniki, Athens.

TSS L'Global Ag. U.K., North Continent & Scandinavian Ports. Dronagiri-2

AMI Intl. AMI Global U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Dronagiri-3

Kalko Faredeal U.K., North Continent & Scandinavian Ports. Dronagiri-3

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genova.

Safewater Safewater Lines U.K., North Continent, Red Sea & Med. Ports.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware 06/0407/04

P2862

North Cont., Scandinavian, Red Sea & Med.Ports. (IOS)

ONE Line ONE (India) Hamburg,

04/0405/04 04/04 1100 MSC Irene IS412A

MSC Agency Baltimore,Boston,Philadelphia,Miami,Arica,Buenaventura, Hind Terminals 10/0411/04 10/04 1100 MSC Aries IS413A Callao, La Guaira, Paita, Puerto Cabello, Puerto Angamos, Iquique, 27/0418/04 17/04 1100 MSC Renee IS414A

Valparaiso,Cartagena,Coronel,San Antonio,Santiago De Cuba,Mariel (Himalaya Express) Globelink Globelink WW USA, East & West Coast.

05/0406/04 05/04 0900 MSC Heidi IP414A P2943 1087398-27/03 MSC MSC Agency Boston, Philadelphia, Miami, Coronel, Guayaquil, Cartagena, Hind Terminals

12/0413/04 12/04 0900 MSC United VIII IP415A Indial Indial Shpg. San Antonio,Arica,Buenaventura,Callao,La Guaira,Paita, 19/0420/04 19/04 0900 MSC Vilda X IP416A

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 07/0408/04

LOAD FOR WEST ASIA GULF PORTS From NSICT

Shpg. Bandar Abbas, Chabahar.

06/0407/04 TBATBA Maersk Kensington 413W Maersk Line Maersk India Salallah. (MECL) Maersk CFS

06/0407/04 06/04 0600 Abrao Cochin 016W P2783 293057-09/03 SeaLead SeaLead Shpg. Sohar, Jebel Ali. (GIX) Blue Water Lines PoseidonShpg. Sohar, Jebel Ali, Dammam. Speedy CFS

07/0408/04 TBATBA Maersk Cape Town 415S P2883 293571-18/03 Maersk Line Maersk India Port Qasim, Salallah. (MWE SERVICE) Maersk CFS

08/0409/04 TBATBA AS Clarita 2406W P2893 293918-21/03 Asyad Line Seabridge Sohar, Jebel Ali, Hamad, Dammam. (IEX)

10/0411/04 TBATBA Celsius New Orleans 925W P2869 293830-20/03 ONE Line ONE (India) Jebel Ali. 16/0417/04 TBATBA As Sicilia 933W UnifeederUnifeeder Jebel Ali. (MJI) Dronagiri

TO LOAD FOR WEST ASIA GULF PORTS From NSIGT

TO

FOR WEST ASIA GULF PORTS From GTI

TO LOAD FOR WEST ASIA GULF PORTS From BMCT

03/0404/04

Emirates Emirates Shpg. Jebel Ali, Sohar.

X-Press Feeders Sea Consortium Jebel Ali, Bandar Abbas. Dronagiri

Cordelia Cordelia Cont. Jebel Ali, Sharjah, Abu Dhabi, Ajman, Dammam, Jubail, Hamad, Bahrin, 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. Dronagiri-3

Bay Line Freight Conn. Port Sudan & Al Sokhna CWC, GDL & DRT

ICC Line Neptune UAE & Upper Gulf Ports. GDL-5

FOR FAR EAST, CHINA & JAPAN PORTS from NSFT

P2860 293736-19/03 CMA CGM CMA CGM Ag. Singapore, Qingdao, Shanghai, Ningbo, Shekou Dron-3 & Mul 08/0409/04 TBATBA CMA CGM Musset 0FFBAE1

RCL Ag. (AS 1)

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

04/0405/04 04/04 0100 Celsius Naples 901E P2789 293101-11/03

Evergreen Evergreen Shpg. P.Kelang, Tanjun, Pelepas, Singapore, Xingang, Balmer Law. CFS Dron. 09/0411/04 TBATBA TS Ningbo 24002E P2837 293578-18/03

UnifeederUnifeeder Qingdao, Shanghai, Ningbo. Dronagiri 15/0416/04 TBATBA Ever Excel 173E

PIL/ONE PIL India/One(I) —/— 22/0423/04 TBATBA Ever Ethic 167E

Hapag ISS Shpg. P.Kelang, Singapore, Xiangang, Qingdao, Shanghai, Ningbo, Da Chan Bay. ULA CFS 29/0430/04 TBATBA Seattle Bridge 090E

KMTC KMTC (I) P.Kelang,Singapore,Tanjung Pelepas,Xiangang,Qingdao,Laem Chabang. Dronagiri-3 06/0507/05

TBATBA Shimin 20E

06/0407/04

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

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

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

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

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

08/0409/04 TBATBA GSL Nicoletta 415E P2906 293606-18/03 X-Press Feeders Sea Consortium Kwangyang, Pusan, Hakata, Shanghai.

Hongkong, Maersk CFS

15/0416/04 TBATBA Tina I 416E Sinokor/Heung A Sinokor India Port Kelang, Singapore, Qingdao, Xingang, Pusan Seabird CFS (NWX/FI-3)

02/0403/04 02/04 0400 Zong Gu Chang Sha 2409E P2835 293583-18/03 RCL/Global Fdr. RCL Ag./Sima Marine Port Kelang, Ho Chi Minh City, Laem Chabang, Cai Mep

04/0405/04 TBATBA Tabea 02410E P2892 293920-21/03 CU Lines/KMTC Seahorse/KMTC(I)

13/0414/04 TBATBA Tonsberg OYS12E1 P2935 SeaLead SeaLead Shpg. (VGX)

02/0403/04 02/04 0400 Wan Hai 507 E221 P2875 293860-21/03 Wan Hai Wan Hai Lines Port Kelang, Singapore, Kaohsiung, Hongkong, Shekou. Dronagiri-1

11/0413/04 TBATBA Ever Unity E198 P2923 29413429/03 Evergreen Evergreen Shpg. BalmerLaw.CFSDron. 16/0417/04 TBATBA Wan Hai 521 E022 Hapag/RCL ISS Shpg./RCL Ag. ULA-CFS/ 23/0424/04 TBATBA Argolikos E160 TS Lines TS Lines (I) South East Asia, Far East, China. Dronagiri-2 30/0401/05 TBATBA Wan Hai 502 E122 (CIX)

03/0405/04 04/04 0900 Wide Alpha 245E P2812 293327-13/03 ONE Line ONE (India) Port Kelang, Singapore, Laem Chabang, 08/0410/04 TBATBA Clemens Schulte 031E P2872 X-Press Feeders Sea Consortium Port Kelang, Singapore, Laem Chabang.

18/0420/04 TBATBA Cap Andreas 010E

Samudera Samudera Shpg. Port Kelang, Singapore, Laem Chabang. Dronagiri

21/0423/04 TBATBA San Francisco Bridge 071E RCL RCL Ag. Port Kelang, Singapore, Laem Chabang. (TIP Service)

28/0429/04 TBATBA X-Press Bardsey 24003E HMM HMM Shpg. Port Kelang(N), Port Kelang(W), Singapore. Seabird CFS 04/0405/04 TBATBA Torrance 26E P2937 OOCL/RCL OOCL(I)/RCL Ag Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo, GDL/Dron-1

18/0420/04 TBATBA OOCL Hamburg 149E P2928 294197-26/03 APL CMA CGM Ag. Dron.-3 & Mul.

23/0425/04 TBATBA OOCLLuxembourg 109E

06/0507/05 TBATBA Seamax Startford 129E

14/0515/05 TBATBA Xin Da Yang Zhou 093E

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

COSCO COSCO Shpg. Port Kelang, Singapore, Hong Kong, Shanghai, Ningbo.

Gold Star Star Ship Singapore, Hong Kong, Shanghai.

21/0522/05 TBATBA Zim Haifa 27E ANL CMA CGM Ag. Port Kelang, Singapore (CIX-3) Dron.-3 & Mul.

28/0529/05 TBATBA Aka Bhum 021E

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

05/0407/04 05/04 0800 Wan Hai 512 E104 P2880 293861-21/03 Wan Hai Wan Hai Lines Penang, Port Kelang, Hongkong, Qingdao, Shanghai, Dron-1 & Mul CFS

12/0414/04 TBATBA Wan Hai 501 E246 COSCO COSCO Shpg. Ningbo, Shekou.

19/0421/04 TBATBA Interasia Progress E082 InterasiaInterasia (CI2) 26/0428/04

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

294362-28/03 MSC MSC Agency Port kelang, Singapore, Tanjung Pelepas, Laem Chabang, Hind Terminal 10/0411/04 TBA 0900 MSC Lagos X GA414R P2948 294379-28/03 Vung Tau, Da Chan Bay, Shekou (SENTOSA SHIKRA)

04/0405/04 03/04 1800 Synergy Keelung 011E P2809 293308-13/03 RCL/PIL RCL Ag./PIL Port Kelang, Haophong, Nansha, Shekou.

07/0408/04 TBATBA Kota Layang 094E P2909 294036-23/03 CU Lines Seahorse Ship

12/0413/04 TBATBA API Bhum 007E Evergreen Evergreen Shpg. BalmerLaw.CFSDron.

21/0422/04 TBATBA Kota Loceng 145E InterasiaInterasia (RWA / CIX 4)

28/0429/04 TBATBA SM Tianjin 2414E Emirates Emirates Shpg.

04/0405/04 04/04 1400 Ian H 02410E P2850 293628-18/03 KMTC KMTC (India) Port Kelang(W), Hongkong, Qingdao, Kwangyang, Dronagiri-3

10/0411/04 TBATBA Zhong Gu Ji Nan 24002E P2839 293574-18/03 TS Lines TS Lines (I) Pusan, Ningbo, Shekou, Singapore. Dronagiri-2

15/0417/04 TBATBA KMTC Manila 2402E P2938 294277-27/03 COSCO COSCO Shpg. (AIS SERVICE)

21/0422/04 TBATBA Xin Pu Dong 273E Emirates Emirates Shpg. Port Kelang, Hongkong, Qingdao, Kwangyang, Pusan,Ningbo, Shekou, Singapore. Dronagiri-2

07/0408/04 TBATBA Interasia Enhance E033 P2853 293657-18/03 Sinokor Sinokor India Port Kelang, Shekou, Dalian, Shanghai, Ningbo, Seabird CFS

10/0411/04 TBATBA Wan Hai 317 E218

16/0418/04 TBATBA Northern Guard E922

23/0425/04 TBATBA Wan Hai 332 E007

Heung A Line Sinokor India Hongkong

Wan Hai Wan Hai Lines (CI6) Dron-1 & Mul CFS

InterasiaInterasia

Feedertech Feedertech/TSA Dronagiri

08/0409/04 TBATBA TS Singapore 24002E P2840 293577-18/03 ONE Line ONE (India) Port Kelang, Hongkong, Shanghai, Ningbo, Shekou

09/0410/04

India to Europe Air Cargo rates may remain elevated: Xeneta

NEW DELHI: The India to Europe air cargo market has experienced a surge in volumes since the beginning of this year. This has been largely due to demand in apparel exports from India and Sri Lanka coinciding with disruptions to ocean freight services in the Red Sea region, which saw shippers switch transportationmodetoairforsomeof their cargo, according to the latest updatefromXeneta.

“These increased general air cargo volumes drove overall air cargo demand in the week ending February 25, 2024 to sit 40 percent higher than the 2019 weekly average. While volumes have

dipped slightly since then, in the week ending March 24, they remained 24 percent above the 2019 weeklyaverage.”

With cargo capacity remaining relatively stable, the dynamic load factor from India to Europe climbed to 87 percent in the week ending March 24, which is its highest level since April 2022, the update added

This increasing load factor has alsodistortedtheusualrelationship b e t w e e n w e i g h t b r e a k s Traditionally, larger cargo volumes (more weight) are charged at a cheaper per kg price than smaller volumes (less weight) However, in the week ending March 24,

the general cargo spot rate for +1,000 kg reached $3.50 per kg, above the spot rate for +500 kg which stood at$3.46perkg.

“The last time Xeneta observed this market condition was during the onset of the Covid-19 pandemic when the air cargo market encounteredacapacitysqueeze ” International cargo up 30% in Feb Indian airports reported a 30 percent increase in international air freight at 185,610 tonnes in February 2024, according to the latest data from the Airports Authority of India For the A p r i l - F e b r u a r y p e r i o d , international freight carried was up eightpercentat1.8milliontonnes.

S&P Global Analysis: Baltimore bridge collapse disrupts local trafc, Global Shipping

NEW YORK: On March 26, the Francis Scott Key Bridge in Baltimore collapsed after being struck by containership MV Dali operated by AP Moller Maersk A/S on an internationalroutebetweentheUSeast coast and Asia. The collapse blocks the main access to the port of Baltimoreandtrapssixbulkcarriers andtwonavyvessels.

According to Mr. Chris Rogers, Head of Supply Chain Research, S&PGlobalMarketIntelligence:

“The bridge collapse is the latest challenge for northeast US supply chains, including access to the Red Sea and Panama Canal as well as the prospect of port strikes later in mid2024. Both bridge reconstruction and cargodelaysarelikelytobeextensive. However, some freight across containerized and bulk modes could reroute to nearby ports in

Wilmington, Delaware and Philadelphia,Pennsylvania.

“The port handled around 3% of all USeastandgulfcoastimportsand10% of US northeast imports of containerizedfreightinthe12monthsto Jan.31,2024.Itisparticularlyimportant for the wood (39% of northeast ports’ imports), construction machinery (31%) and steel/aluminum (20%) sectors. Consumer goods exposures including home appliances (16%) andfurniture(9%).

“The port is also one of the largest handlers of specialty wheeled transport shipments (cars and trucks) in the US, though one of the major terminals is located oceanside from the bridge and so may face less disruption.”

Disruptions to 10% of northeast imports:Supplychainimpact

The Port of Baltimore handled

650,897 TEUs of inbound traffic and 272,8590 TEUs of outbound shipments in the 12 months to Jan. 31, 2024, accounting for 2.8% and 3.1% of the US east and Gulf Coast total, respectively, according to S&P Global Market Intelligence data.

Container freight accounted for 75% of volumes handled through the portinthepast12months,withautos and roll-on, roll-off capacity representing another 18%, while bulk shipments of steel and forestry products accounted for much of the remainder.

The port is also one of the largest handlers of specialty wheeled transport shipments (cars and trucks) in the US, though one of the majorterminalsislocatedoceanside from the bridge and so may face less disruption.

GIDB expands scope of assistance to Logistics Projects

AHMEDABAD: The Gujarat Infrastructure Development Board’s (GIDB)governingboardhasokayeda proposal broadening the scope of projects that are covered under the logistics sector. It has sent a proposal to this effect to the state industries and mines department for making necessary changes to the GID Act, 1999.

According to top govt sources, the phrase ‘Logistics Infrastructure and Facilities’ will be added to the list of specific logistics projects which have been mentioned. “With this modification, all sorts of projects related to logistics will get quicker approvals and incentives from govt. Addition of the phrase ‘Logistics Infrastructure and Facilities’ will ensure that private participation in

the sector will get a boost,” officials said. A meeting was held recently in Gandhinagar, where GIDB board members authorized the Chief Executive Officer to the following proposal to the industries and mines department for approval: “Logistics infrastructure and facilities’, including but not limited to integrated logistics park, multi modal logistics park, inland container depot, freight terminal, container freight station, air freight station, air cargo complex, cold chain facility, warehouse, truck terminal, silos, and the like infrastructure.”

Officials said that the addition of the phrase ‘Logistics infrastructure and facilities’ will enable logistics

infrastructure to be included in the priority sector, where govt is entitled to take decisions to expedite projects through incentives. “It will also enable logistics projects to be implemented through the PPP (public private participation) model,” sourcessaid.

Officials said that a number of companies, including those based in Gujarat have shown keen interest in investing in Gujarat’s logistics sector even as the DMIC (Delhi-Mumbai Industrial Corridor) and the DFC (dedicated freight corridor) are passingthroughthestate.

“Govt will now be in a position to provideconcessionstoindustriesthat are interested in taking up projects related to the logistics sector,” officialssaid.

Trade policy calibrated with growth path; aiming for $2trn exports by 2030 : Piyush Goyal

NEWDELHI:India’stradepolicy is calibrated with its economic growth trajectory as it aims to achieve a target of $2 trillion in exports by 2030, Commerce and Industry Minister Piyush Goyal said recently. “Our trade policy is calibratedbasedonourdevelopment journey, yet open for expansion. We will be doing $2 trillion of exports by 2030 and I have no doubt we will achieve it,” the Minister said at a mediaeventinNewDelhi.

Goyal said that India had pulled out of the Regional Comprehensive

Economic Partnership (RCEP) in 2019 due to stakeholder concerns and to protect the Indian market from being flooded by cheap Chinese goods.

He further stated that if India had not withdrawn from the RCEP, the country would not have scripted the growthstoryithasinrecentyears.

The flood of sub-standard, lowquality goods coming in from certain geographies would have killed the investment climate in the country, he added.

Goyal pointed out that even

America and Europe still levy high tariffsonseveralproducts.

At the same time, he said that India needs to internationalize its economyandlookatagreaterdegree of engagement with the world and high growth in exports. The minister cited the recently signed European Free Trade Association (EFTA), in which Iceland, Liechtenstein, Norway, and Switzerland, have committed an investment of $100 billiontocreate1milliondirectjobsin Indiainthenext15yearsinexchange formarketaccess.

Far East-Middle East/India trade booms, as European exporters suffer

MUMBAI: Other than elongated transit times, Asia-Europe container supply chains may be so far largely unscathed by the Red Sea crisis and vessel diversions around the Cape of Good Hope – but for European exporters to the Middle East and Indian subcontinent, it has been a disaster.

Massively increased transit time and sky-rocketing freight rates on both headhaul and backhaul trades have led more and more Indian businesses to turn to Far East suppliers to source materials, according to a new analysis by maritimeconsultancyMSI.

“Following a solid 2023, where it expanded by 11%, the Far EastMiddle East/India trade recorded a massive 34.5% year-on-year expansion in January,” it notes in the March edition of its Horizon Monthly Containershipsreport.

“Indiahasbeentheprimarydriver of this growth since it is by far the region’s largest importer.

The booming Indian economy has led to increased demand for containerisedimports,”itsaid.

In terms of volumes, in Q1 22, the FarEast-MiddleEast/Indiatradewas around twice the size of the EuropeMiddle East/India trade, at 1.89m teu and905,000teu,respectively.

Two years later, it is now around three times the size. MSI’s firstquarter 2024 volume estimates is for Far East-Middle East/India trade to see 2.24m teu, representing year-onyear growth of 16.4%, while the Europe-Middle East/India trade is expected to show an 11.8% year-onyearcontraction,to785,000teu.

During S&P Global’s recent TPM24 conference in Long Beach, Vespucci Maritime’s Lars Jensen reiterated his view that the Indian Ocean Rim would become a major growth market for carriers and freightserviceproviders.

He told delegates: “Partly this is the result of the slow migration of manufacturing from China; India is

where China was 25 years ago, especially in terms of cheap labour. Now it needs the infrastructure to servethat.”

And the new data from MSI would appear to support this, with the primary commodities India now imports from China comprising manufacturing material, rather than theconsumergoodsthatdominatethe Asia-Europeandtranspacifictrades.

“Estimated Indian imports of “container-relevant” products from China have skyrocketed since 2020. In2023,importsgrewbyanestimated 21.6% year on year,” said MSI. “This was driven predominantly by imports ofplastics,machinery,glassproducts, metal,andsemi-finishedtextiles.

“Consumer confidence has also bounded back strongly from the pandemic lows and is rising every quarter. We expect India to continue to record strong import growth from theFarEast,mergingasabrightspot for container carriers,” MSI concluded.

India can achieve 10% growth rate in next decade: RBI Deputy Governor

MUMBAI: India can achieve a growth rate of 10 per cent in the next decade and become the second-largest economyby2032andthelargestby2050, given the energies and transformation driving the nation to overcome its challenges, said RBI Deputy Governor Michael Debabrata Patra. He was delivering a keynote address on The Indian Economy: Opportunities and Challenges at Nomura's 40th Central Bankers Seminar in Kyoto, JapanonMarch25.

India'sgrowthtrendisonthecuspof a post-pandemic upshift, with early signs of it rising above 7 per cent recorded during the 2000s before COVID-19struck,hesaid.

"India's recent growth performance

has surprised many, triggering a flurry of upgrades. For instance, the InternationalMonetaryFund(IMF)has cumulatively revised its forecast for 2023 upwards by 80 basis points between April 2023 and January 2024," Patrasaid.

In its latest update, IMF expects India to contribute 16 per cent of global growth, the second largest share in the world in terms of market exchange rates.

By this metric, India is the fifth largest economy in the world and positioned to overtake Germany and Japanwithintheensuingdecade.

In purchasing power parity (PPP) terms, the Indian economy is already thethirdlargestintheworld.

The tailwinds driving the growth, the deputygovernorsaid,includefavourable demography, the rupee being among the least volatile currencies in 2023, and transformative change leveraged on technology.

"Given the innate strengths, I described and the energies and transformation that are driving the nation to overcome its challenges and achieve its aspirational goals, it is possible to imagine India striking out into the next decade with a growth rate of10percent.

"Ifthisisachieved,Indiawillbecome thesecondlargesteconomyintheworld not by 2045 as shown earlier, but by 2032 and the largest economy by 2050," Patrasaid.

Expert Committee on developing GIFT IFSC as ‘Global Finance and Accounting Hub’ submits report to IFSCA

NEW DELHI: The Expert Committee on developing the Gujarat International Finance Tech-City InternationalFinancialServicesCentre (GIFT IFSC) as ‘Global Finance and Accounting Hub’ has submitted its report to Chairperson, International Financial Services Centre Authority, (IFSCA)on26thMarch,2024.

The Expert Committee was constituted pursuant to the notification issued by Ministry of Finance on 18th January, 2024 wherein book-keeping, accounting, taxation and financial crime compliance were notified as ‘financial

services’underSec3(1)(e)(xiv)ofIFSCA Act, 2019. The Expert Committee was chaired by the President of the Institute ofCharteredAccountantsofIndia(ICAI). The committee comprised of experts from the industry, academia and the Government. The Expert Committee has recommended a comprehensive regulatory regime for undertaking bookkeeping, accounting, taxation and financial crimes compliance services from IFSC in India. Additionally, the Committee has also made several recommendations for the promotion

and development of GIFT IFSC as ‘Global Finance and Accounting Hub’, including measures for enhancing the skills and competencies of the workforce.

In its report, the Committee has highlighted the potential for GIFT IFSC to become a global hub for bookkeeping, accounting, taxation and financial crime compliance services, which would create large employment opportunities for the talented workforce.

The report of the Expert Committee canbeaccessedonIFSCAwebsite.

Vizag Port creates New Record in Cargo handling last scal

VISAKHAPATNAM: The VisakhapatnamPortAuthority(VPA) has set a new cargo handling record by surpassing 80 million metric tonnes per annum (MMTPA) just four days before the end of the financial year 2023-24. This achievement exceeded the previous record of 73.75 MMTPA in 2022-23. The Visakha Container Terminal (VCT) reported a notable 28% increase in container volumes, reaching 665,000 TEUs (Ten EquivalentUnits).

Dr. A. Angamuthu, the Port Chairman, highlighted the growth in various cargo categories, including a 27% increase in POL and crude volumes, 12% in iron ore, and 6% in fertilizers. The port also handled a higher number of baby cape vessels up to 43 meters beam, contributing to a more than 35% increase in the numberofvesselsmanaged.

The Port Chairman commended the team for achieving the milestone

andurgedthemtocontinuestrivingfor excellence. The port’s Key Performance Indicators (KPIs) demonstrated significant improvements, with a 68% enhancement in Pre-berthing detention,10%inTRT&OSBD,and8% inIdletimeatberth.

Notably, the VPA recorded the highesttonnagecargohandlingevery month in May, June, October 2023, and January 2024. Additionally, the portachievedarecordforthehighest daily cargo volume of 403,978 million tonnes on January 19, surpassing the previous record (401,875 MT) set on

June17,2023. During the Global Maritime India Summit(GMIS)2023,theportsigned 19 Memorandums of Understanding (MoUs) to enhance port management practices and explore new trade opportunities. The VPA’s commitment to community development was emphasized by engagingincitizen-centricinitiatives such as park development and road beautification to enhance the quality oflifeforVisakhapatnamresidents.

The VPA’s commitment to sustainable development and the welfare of the local population was further demonstrated by its achievement of first place among all major ports in the Swachchta Pakhwada Awards 2023, which recognizes efforts in cleanliness and hygiene, as announced by the port secretary T Venu Gopal. This award underscores the VPA’s dedication to environmental stewardship and communitywell-being.

Indian exports not to have major impact for the fall in Yen rates : FIEO

NEW DELHI: The recent depreciation seen in Japanese yen is not expected to impact India’s exports to that country as they are not competing with domestic manufacturers, but it could jack up Indian imports of electronics, machinery and auto components, according to Federation of Indian ExportOrganisations.

“India’sexportstoJapanarelargely of goods like apparel and marine products that they (Japanese companies) do not produce locally so these products are not competing with thedomesticmanufacturers.Sodespite the depreciation there would not be any impact even though these products may get costly for consumers there,” Director General and Chief Executive Ofcer of FIEO AjaiSahai said.

Theyendroppedtoitslowestlevelin 34 years early Wednesday, trading near 152 to the dollar. The fresh round of depreciationofyenhasbeensparkedoff bytheBankofJapanendingitsnegative

interestratepolicy.

Sahai, however, said that because of the depreciating yen Japanese exports willgetcheaperandmorecompetitive.

The depreciating yen might see Indian companies increasing their imports of electronics, machinery and auto components from Japan so there could be some shift away from other sources,hesaid.

Chairman of the Engineering Export Promotion Council EEPC Chairman Arun Kumar Garodia also said that there would be no impact on engineering sector exports to Japan duetoyendepreciation.

He said the border impact of the recent developments in Japan would not be felt on larger exports as most of Indian exports are invoices in dollars and euros. Garodia said that though the exports are immune from recent developments in Japan, it will hurt some of the bigger Indian companies who have borrowed abroad in yen.

Withintheengineeringsector,which

accounts for close to 25% of exports, India exported $ 322.24 million worth of electricalmachineryinthelastfinancial year. Exports of iron and steel stood at $268.21millionandaluminiumat$291.59 million.

In 2022-2023, Japan‘s bilateral trade withIndiawas$21.96billion,withJapan exporting $16.49 billion and India importing$5.46billion.

India’s main exports to Japan also include refined petroleum ($379 million), Crustaceans ($332 million), chemicals ($734 million), iron and steel ($268 million), other machinery ($ 430.7 million)andvehicles($405.14million).

India’s imports from Japan are machinery ($2.8 billion), metals (2.1 billion), electrical machinery ($ 1.7 billion)andironandsteel($1.3billion).

India and Japan also have a Comprehensive Economic Partnership Agreement (CEPA) between them which was signed. India is seeking a review of some elements of the agreement as it feels that the pact has benefittedJapanmorethanIndia.

Baltimore bridge: Biden okays $60 mn aid, Guv warns of long road ahead

NEW YORK: Maryland Governor Wes Moore warned recently of a “very long road ahead” to recover from the loss of Baltimore’s Francis Scott Key Bridge as the Biden administration approved $60 million in immediate federalaidafterthedeadlycollapse.

Massive barges carrying cranes streamed toward the site to begin the challenging work of removing twisted

metal and concrete as a first step toward reopening a key shipping route blockedbythewreckageofthespan.

Moore promised that “the best minds in the world” were working on planstoclearthedebris,movethecargo ship that rammed into the bridge from the channel, recover the bodies of the fourremainingworkerspresumeddead andinvestigatewhatwentwrong.

“Government is working hand in hand with industry to investigate the area, including the wreck, and remove the ship,” said Moore, a Democrat, who said quick aid is needed to “lay the foundation for a rapid recovery”. President Joe Biden has pledged the federal government would pay the full cost of rebuilding the bridge.

DPIIT planning to engage consultant to prepare LEADS report for 3 years

NEWDELHI:TheDepartmentfor Promotion of Industry and Internal Trade(DPIIT)isplanningtoengagea research firm to prepare the Logistics Ease Across Different States and Union Territories for the nextthreeyears.

Every year, the department releases a Logistics Ease Across Different State (LEADS) report, ranking states and Union Territories (UTs) on the basis of their logistics ecosystem and highlights the key logistics-related challenges faced by stakeholdersandincludessuggestive recommendations.

The index is an indicator of the efficiency of logistical services necessary for promoting exports and economicgrowth.

The DPIIT has floated a request for proposal for the appointment of

consultantforrankingofstatesonthe basis of their logistics efficiency (LEADS report for 2024, 2025, and 2026).

“The DPIIT intends to engage a research organisation/consulting or market research firm/ academic institution (Consultant) with experience in preparing national/international level reports based on robust data based analysis in the logistics / transport / infrastructure sector for the period of 36monthstoprepare,LEADSreports for 2024, 2025, and 2026,” according to therequestforproposaldocument.

The objective of the current assignment for the consultant is to prepare the reports taking into account the methodology developed inthepreviousversionsofLEADS.

The consultant, it said, is expected

to review the LEADS methodology, identify potential enhancements, and propose a plan for data collection; and conduct perception-based surveys acrossthelogisticsecosysteminIndia, developing a sampling frame, survey instruments,andobjectivedatasets.

It is also expected to analyse collected data using robust statistical methodologies, visualise findings using data tools and derive the LEADS Index; and draft a comprehensive LEADS report for each year, including actionable recommendations tailored for states/UTs.

According to the fifth LEADS 2023 report, Andhra Pradesh, Karnataka, TamilNadu,Gujarat,andChandigarh are among the 13 states and UTs that have again been categorised as “achievers”.

India reduces steel trade decit on the back of better exports, stable imports

NEW DELHI: India’s steel trade deficit has come down to Rs. 10,411 crore ($1,258 million) for the April–February period, down 10 per cent sequentially, on the back of improving exports, and stable imports during February, a report of theSteelMinistry,

TradedeficitwasRs.11,564crorein theApril–Januaryperiodofthefiscal.

Import of finished steel stood at 7.6 million tonnes (mt), and was valued at Rs. 63,432 crore ($7,663 million) while exports were at 6.6 mt and valued at Rs. 53,021 crore ($6,405 million). India was a net importer, with shipments coming-in exceeding outboundshipmentsbynearly1mt.

Importsincreased29percentYoY and remained at January levels (with no significant increase) for February at 0.8 mt. Exports, on the other hand, increasedby78percentYoYandby21

per cent sequentially in February to over1mt,theMinistryreportsaid.

“Volume-wisehotrolledcoil/strip – at 3.4 mt – was the most imported item accounting for 45 per cent share (with China being the largest seller), accountingfor2.5mtoftheshipments comingin,”thereportmentioned.

Hotrolledcoilsandstripswerethe highest exported item accounting for 2.6 mt or nearly 39 per cent of the volumes. Flat product exports increasedby16percentYoYto5.9mt, while non-flat products saw a 7percentYoYdeclineto0.7mt.

According to the Ministry report, Italy, Spain and Belgium were the three top buyers; and Europe accounted for 45 per cent of the exportsfromIndia.

Shipments to Italy — the largest market—stoodat1.5mt,up85percent YoY. Exports in the year-ago-period

were 0.8 mt and valued at $1,228 million,up43percent,YoY.

Exports to Belgium increased 37percentYoYto0.8mtor$646million, up 6 per cent. Shipments made past yearwas0.53mt,thereportmentioned.

The other big buyer, Spain, saw an over 100 per cent increase in exports to 0.63 mt for April–February period, whichwasat0.3mtinthesameperiod last fiscal. Exports were valued at $527million,up65percentYoY.

Other European buyers were France, Germany and Greece, and shipments stood at around 29,000 tonnes, 31,300 tonnes and 42,400 tonnes, respectively, the report showed.

Other major buyers were Nepal and UAE, where exports stood at 0.6 mt, up 14 per cent ($340 million) and 0.5 mt, down 28 per cent ($442million),respectively.

Pod taxis to provide last-mile connectivity in GIFT City

GANDHINAGAR: To provide last mile connectivity to employees and visitors in GIFT City, the government is working on a pilot project for operating pod taxis that will operate on elevated corridors and provide crucial connectivity between high-rise buildings and metro stations within the 1000-acre oddcampusinGujarat.

“The Personal Rapid Transit (PRT) system will be the last mile connectivity between the metro rail and the offices in GIFT City. A proof of concept has been madewheretheprojectwillbeexecutedin asmallportionandlaterscaledup.Aspart of the pilot project we will lay a couple of

kilometers of tracks in the Special EconomicZone(SEZS)foroperatingpod taxis that will begin from the metro station in GIFT City. Consultants have also been appointed to conduct a feasibility study for the project,” aseniorofficialofGIFTCitytold.

Italy-basedM/sRinaConsultingand Ahmedabad-based M/s CASAD Consultants Pvt. Ltd. have been appointed as consultants for carrying out a detailed feasibility study for development of Personal Rapid Transit (PRT) System in GIFT City, sources added. The National Highway Logistics Management Ltd (NHLML) in early

2023 had floated a Request for Proposal (RFP) for carrying out a feasibility study for development of Personal RapidSysteminGIFTCity.NHLMLisa 100 percent owned special purpose vehicle of National Highway Authority ofIndia(NHAI).

“The pod taxis that will run on dedicated tracks,” the official added. The tracks have been proposed to be built on an elevated corridor over utility tunnels that cross GIFT City and connect all the high-rise buildings. The tentative length of the pilot project mentioned in the RFP floated by NHLMLisabout4.6kilometers.

Shipping Containers can make or break the Global economy, feel Experts

LONDON:Theshippingcontainer is a logistics marvel that can affordably move thousands of items fromhundredsofdifferentcompanies allaroundtheglobe.

If there is a slowdown in shippingcontainer circulation, there could be massivesupplychainbottlenecks.

“The skill involved in containerization is moving that container from point A to point B and getting it back to point A as quickly and efficiently as you possibly can,” Simon Heaney, senior manager of container research at Drewry, a maritime research and consulting firm.

Supplychaindisruptions

Disruptions to global trade can have major impacts on shortages and inflation, causing serious ramifications for American householdsandbusinesses.

For example, the Federal Reserve Bank of San Francisco found that supplychaindisruptions“contributed on average about 60% of the run-up of U.S. inflation” in the two years following the coronavirus pandemic outbreak.

“People suddenly realized how important that container is to everybody’s standard of living,” John Fossey, senior analyst of container equipmentatDrewry,told.

Indeed, inflation cooled alongside the bounce back of the supply chain, according to a White House analysis

of the U.S. economy. The study showed more than 80% of recent progress in lowering inflation can be attributedtothesupplychain.

Attacks by Iran-backed Houthi militants on ships traveling through the Red Sea have also led ocean carriers to take longer voyages aroundtheCapeofGoodHope.

“Taking the long way [around] the bottom of Africa, that’s adding about one-third to their voyage distance,” John McCown, nonresident senior fellow at the Center for Maritime Strategy,told.

Longer voyages result in higher fuel costs for ocean carriers and late arrivals of shipments to their planneddestinations,contributingto delays in returning containers to nations like China to be reloaded withexports.

China is a world leader in exports and manufacturing, and accounts for more than 95% of shipping-container production, according to the Federal MaritimeCommission.

“Particularly with the Asian countries, [they] long ago recognized thataverykeypartof[their]economy is exports, and if [they] want to be efficient at exporting products, [they] need to make sure there is a good conveyancesystem,”McCownsaid.

AttacksonshipsintheRedSeaare the latest shock to the global supply chain after Russia’s invasion of Ukraine and the coronavirus

pandemic shook up the logistics industry — including shipping containeravailability.

“During the pandemic, we had the phenomenon that there were not enough containers because many containers were stuck in rail yards or they were stuck in container ports,” GoetzAlebrand,headofoceanfreight for the Americas with DHL Global Forwarding. “There was not the fluiditythatweusuallyhad.”

When shipping-container prices skyrocketed in 2020 and 2021, it became more lucrative for shipping companies and leasing firms to send containers back to Asia as fast as possible.

“Because of the need to replenish and reposition containers back to Asia,” Heaney said, “that container will make another sea journey back, butcompletelyempty.”

That trend resulted in a trade imbalance that hit U.S. exports, including agricultural products. In response,somefarmsdumpedmilkin fields and plowed crops back into the soil.

“Ideally, you would have the most efficient system,” Heaney said. “The only way to make that happen is to have a completely balanced manufacturing ecosystem, and we don’t have that and we’re unlikely to have that. [It’s] an inefficiency born not of container shipping but just of thenatureoftheglobaleconomy”.

Philippines seeks stronger Maritime security cooperation with India

MANILA:ThePhilippinesisseeking strongermaritimesecuritycooperation with India to ensure the safety of seafarers from both nations as the world’s oceans are becoming more dangerous for commercial shipping, PresidentMarcossaid.

During a courtesy call of Indian Minister of External Affairs Subrahmanyam Jaishankar at Malacañang recently, Marcos stressed the importance of working together on maritime security amid concerns in the RedSea,theGulfofAdenandtheIndian Ocean. ‘That kind of partnership, we have just rationalized our –the system, the local system for the

support of our local seafarers because before,ithasbeenalittlebithaphazard, butnowIthinkwehave–wemadesome senseofitandIthinkwewillbegoingto be a little bit to a great advantage,’ MarcostoldJaishankar.

‘Which means we’re ready to join up and if there are opportunities for us to work together. It is at a crisis point of shipping. And maybe we can find something that we can do together to ease the situation at least a little bit until it becomes – the conflict becomes less heated,’ he said. While India and the Philippines are non-traditional partners intermsofmaritimeissues,Marcossaid ‘it serves a purpose for us to start

thinking about that, because the world is likethatalready,verycloselyconnected.’ Marcos highlighted the important contribution of Filipino seafarers manning the world’s merchant ships, whether tankers, cruise ships or other vessels.

Agreeing with Marcos, the Indian official said the two countries should startlookingforwheretheycandomore toworktogether.

In a separate meeting with Foreign Affairs Secretary Enrique Manalo on Tuesday, Jaishankar emphasized India’s readiness to build on its existing maritime partnerships with the Philippines.

BIMCO adopts SHIPMAN 2024

LONDON: The updated version of SHIPMAN, BIMCO’s widely used ship management agreement, was adopted by the Documentary Committee at its meeting on 22 March in Hamburg after a two-year review process involving shipowners, managers, P&I Clubs, insuranceandlegalexperts.

The agreement, which may include

crew, technical and commercial management as well as insurance arrangements in respect of a ship, was last updated in 2009 and the new edition reflects important updates in ship management practices and includes a number of standard clauses, reducing theneedforuserstoaddriderclausesin theagreement.

“Wehavetakengreatcaretoensure that the comprehensive, yet simple and straighforward, nature of SHIPMAN –which has for decades made it the go-to industry standard contract for ship management – is maintained,” says Mr. Ajay Hazari of Anglo-Eastern ShipManagement wholedthedrafting teamrevisingtheform.

CJ-I

CJ-IV Nord Stark Interocean 06/04

CJ-V Nord Yilan Delta Waterways 05/04

CJ-VI VACANT

CJ-VII VACANT

CJ-VIII Hoihow Arnav Shpg. 06/04

CJ-IX VACANT

CJ-X Nazia Jahan Parekh Marine 05/04

CJ-XI Haian Mind ULSSL 02/04

CJ-XII Express Argentina Hapag Llyod 02/04

CJ-XIII Seastar Viking Synergy 06/04

CJ-XIV Eva Bristol Chowgule Bros. 04/04

CJ-XV Ertea Cross Trade 05/04

CJ-XVA Yangze 7 Aditya Marine 02/04

CJ-XVI Prinecss Boa Chowgule Bros. 03/04

TUNA VESSEL'S NAME AGENT'S NAME ETD

VESSELS IN PORT & DUE FOR

OJ-II

OJ-III

OJ-IV

OJ-V VACANT

OJ-VI Swarna Pushp MK Shpg.

OJ-VII VACANT

SB-04

SB-05

/ IN PORT FOR IMPORT DISCHARGE

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSICT

Vessel Name (Voy) Sailing Dt. Next Port

NYK

28-03-2024 AMCT

MSC Mundra VIII (V-IU412A) 28-03-2024 AICT

MSC Ilenia (V-FD407E) 29-03-2024 Colombo

MSC Maeva (V-IP413A) 30-03-2024 Hazira

MSC Thais (V-IS411A) 31-03-2024 Mundra

MSC Rene (V - XA414A) 01-04-2024 Mundra

Wan Hai 502 (V-E121) 28-03-2024 Port Kelang

CMA CGM Titus (V-OMXTGW1) 29-03-2024 AICT

SC Mara (V-24012) 29-03-2024 Jebel Ali

Cap San Juan (V-412W) 30-03-2024 Salalah

Wan Hai 311 (V-E231) 30-03-2024 Cochin

X-Press Bardsey (V-24002E) 31-03-2024 Colombo

26-03-2024 MICT

Majd (V-24007W)

MSC Bremen (V-JU412R) 26-03-2024 Sohar

Taichung (V-24011W) 26-03-2024 Mundra

Jeju Isand (V-E402) 28-03-2024 MICT

CMA CGM Gemini (V-OPE8VW1) 28-03-2024 ACMT

Advance (V-050W) 28-03-2024 Khalifa

Xin Hongkong (V-069E) 29-03-2024 Pipavav

Hyundai Brave (V-110W) 29-03-2024 AICT

Maersk Cadiz (V-413W) 29-03-2024 Mundra

Ever Ulysses (V-158E) 30-03-2024 AICT

Daphane (V-862W) 31-03-2024 AMCT

MSC Aurora (V-XA413A) 31-03-2024 Colombo

SSF Dynamic (V-067W) 31-03-2024 Khalifa

Palermo (V-24011W) 31-03-2024 MICT

Cont’d from Pg. 3

JNPA's New Milestone : Highest Throughput of 6.4 Mn TEUs in 2023-24

Total traffic handled during FY 2023-24 is 85.4 MMT

Terminal Wise: BMCT handled 2.02 Mn TEUs, GTI handled 1.56 Mn TEUs, NSICT handled 1.12 Mn TEUs, NSIGT handled 1 10 Mn TEUs and NSFT handled approximately 0.5 Mn TEUs during the last fiscal year 2023-24.

In terms of Total Tonnage, JNPA handled around 85.4 MMT during last fiscal year as against 83 86 MMT during its previous corresponding period

TotalNumberofVesselshandledatJNPAwasaround 2724tillMarch29th2024.

Asian Box Lines launch joint Southeast Asia – India service

Cont’d from Pg. 3

Theservicewillbeoperatedbyfourcontainervessels withanominalcapacityof3,000TEUs.WanHaiLineswill deploy two boxships, while Korea Marine Transport Co. andInterasiaLineswilloperateonevesseleach.

The maiden voyage of the service will commence from Malaysia’s Port Kelang on 26 April and the service

willhavea28-dayfixedroundtripschedule.

The port rotation of the new service will be Jakarta (Indonesia) – Surabaya (Indonesia) – Singapore –PortKelangNorthPort(Malaysia)–Mundra(India)–Nhava Sheva (India) – Port Kelang North Port –Jakarta.

WanHaiLinessaiditisconfidentthatthenewservice willprovidecustomerswithbetterfrequencyandservice coveragebetweenSoutheastAsiaandIndia.

JNPA welcomes Sri Lankan Ports Minister

N AV I M U M B A I : JNPA recently welcomed Hon'ble Mr. Premalal J a y a s e k a r a , S t a t e Minister of Ports & AviationofSriLanka,andesteemeddelegates,informsa recent port communique “Their visit included an insightfultourofourterminals.It'sanhonortohostsuch distinguished guests as we forge stronger ties and explore avenues of cooperation, further adds the communique.

“Mawani”: “Unifeeder” added New service “RGI” to Jeddah Islamic Port, connecting Kingdom to

RIYADH: The Saudi Ports Authority “Mawani” announced that “Unifeeder” added the new shipping service “RGI” to Jeddah Islamic Port, which connects the Kingdom to the ports of India, supporting trade between the two countries and contributing to providing fast and securesolutionsforexportersandsuppliers.

This move reflects investors’ confidence in the Kingdom's ports, contributes to supporting maritime transport and logistics services, and confirms the status of Jeddah Islamic Port and its capabilities and advantages, as it is the Kingdom’s first port for exports and imports, and the first re-export point in the Red Sea, with 62 multi-purpose berths and a capacity of 130milliontons.

Indian Ports

The new shipping service connects Jeddah Islamic Port to the ports of Mundra and Nhava Sheva in India, Jebel Ali in the UAE, and Sokhna in Egypt, through regular weekly trips, with a capacity of up to 2,824TEUs

It is worth noting that Jeddah Islamic Port witnessed the completion of improvement and development works in the port’s North Container Terminal during the current year, with investments amounting to 6.6 billion riyals, enhancing its operational capabilities, increasing its capacity with a developed infrastructure, and improving its logistics services efficiency. This is in line with the objectives of the National Transport and Logistics Strategy (NTLS), to solidify the Kingdom’s standing as a global logistics hub bridging the three continents.