GUJ-14-10-2024

: (079) 26569995,

DPA sets New Benchmarks in Cargo handling and Overall Port Efficiency

KANDLA : (02836)222665/225790, E-Mail:dstimeskdl@gmail.com

voyage

SINOLINES’ historic CIW service at BMCT – Direct, fastest call from India West Coast to China

GANDHIDHAM : In the first 6 months of current fiscal i e 2024-25, t h e t r a d e f r i e n d l y a p p r o a c h a d o p t e d b y D PA h a s s t a r t e d delivering results. The rationalization of cargo and vessel related charges by the port in consultation with the trade and, coordinated efforts by vessel agents, stevedores & other stakeholders have shown up in the form of significant growth in cargo volumes at DPA in Dry and liquid cargoes handled at the Port.

Moreover, these concerted efforts also translated into creation of some single day and monthly records in cargo handling...

MUMBAI: Sinotrans Container Lines Co., Ltd. (abbreviated as Sinolines), a specialized subsidiary of the one and a half century old China Merchants Group, launched the CIW service with its maiden call of AN TONG FU ZHOU at BMCT terminal, Nhava Sheva on 4th October 2024

Cont’d. Pg. 8

Gujarat CM releases Commemorative Stamp on 25 Years of Mundra Port

AHMEDABAD: Mundra Port, the Adani Group’s flagship port and India’s largest commercial port, has been honoured with a special postal stamp marking its silver jubilee year The commemorative stamp, released on World Post Day, celebrates Mundra Port’s remarkable socioeconomic contributions and its transformation into a global maritime powerhouse over the past 25 years.

M

A

The stamp was released by Gujarat Chief Minister

Mr Rajesh Adani, Adani Ports and Special Economic Zone Ltd Managing Director Mr Karan Adani, Gujarat Circle Chief Postmaster General Mr Ganesh V Sawaleshwarkar, HQ Region Postmaster General Mr Krishna Kumar Yadav and other officials. B

visionary Gautam Adani on what was

marsh, Mundra Port has rapidly grown into a key commercial hub and a pivotal gateway for India The port, managed by Adani Ports and Special Economic Zone Ltd, has evolved from a single jetty into a global shipping hub, connecting India to the world while also serving a considerable portion of the nation’s hinterland.

Today, Mundra Port has become a significant driver of economic growth for both Gujarat and India. Since 1998, the port has contributed over INR 2.25 lakh crore to the state a n d

7 5 crore man-days of employment and attracted investments exceeding INR 70,000 crore. Mundra Port now handles nearly 11% of India’s maritime cargo and 33% of the

nation's container traffic. Through the Adani Foundation, the port’s community support initiatives have reached 61 villages, benefiting over 3.5 lakh people.

"This commemorative stamp represents not just the legacy of Mundra Port but also our partnership of trust with the people of Gujarat and the supportive policies of the state government,” said Mr Karan Adani, MD, Adani Ports and Special Economic Zone Ltd (APSEZ). “Together, we have turned a vast wasteland into India’s largest port, reaffirming our humble commitment to driving economic development and creating opportunities for our people, while supporting India’s ambition to be a leader in global trade."

Issued by India Post, the commemorative stamp is titled "25 Years of Progress – Mundra Port" and features a visual

The stamp sheet, which contains 12 stamps, was designed by India Post in collaboration with APSEZ. 5,000 stamp sheets, with a total of 60,000 stamps, have been printed at the Security Printing Press in Hyderabad. The stamps will be available for purchase through India Post’s ePortal.

In addition to the Mundra Port commemorative stamp, India Post has also introduced a special cover and stamp cancellation process. A copy of the stamp sheet will also be permanently displayed at the National Philatelic Museum in New Delhi.

Maiden voyage of SINOLINES’ historic CIW service at BMCT –

Direct, fastest call from India West Coast to China

Cont’d. from Pg. 3

T h e p o r t r o t a t i o n o f

C I W s e r v i c e w i l l b e

N h a v a S h e v a - M u n d r aShanghai-Ningbo-Shekou , with an industry best fastest transit of 17 days to Shanghai and the only direct service to China from Indian West Coast to cater to the Export Import trade.

An inaugural ceremony was held on board to felicitate the vessel Master, Capt Wang Hongjian & the entire crew of the vessel; attended by senior dignitaries of S I N O L I N E S & T R A N S O R I E N T S H I P P I N G (agents of SINOLINES in West India and North India) & BMCT officials.

Mr Patrick Chow, Deputy GM Network Planning Department and a senior functionary of Sinolines graced the occasion and presented a plaque to the vessel Master

Mr R Devi Prasad , Chief Owner’s Representative of Sinolines India and Mr Santosh Namboodiri, Owners’ Representative for West India were also present on board to felicitate the Master and BMCT

In his address to attendees, Mr Patrick Chow thanked BMCT officials and Agents Transorient Shipping Private Limited for all the support extended towards the launch of CIW service He mentioned SINOLINES had last year made entry into East Coast India with its first CIE service calling Chennai & Vizag and now CIW is the next initiative to enter West Coast India market. In future, SINOLINES plans to bring in many more liner services into India and solicited support from all stakeholders

TRANSORIENT SHIPPING PVT LTD, Agents for Sinolines in Wester n India, represented by Mr Glen Fernandes and Mr Hanif Bakshi; presented the Master with a plaque, shawl and congratulated the Master on the historic maiden call, extending their wishes to all stakeholders for a successful run of the service.

BMCT also exchanged souvenirs with the ship’s Master, SINOLINES and TRANSORIENT SHIPPING.

CIW service offers a seamless, comprehensive connectivity to not only China but also gate-way ports in the wider Asia-Pacific rim ; covering ports in Chinese Taiwan, South Korea, Japan, Australia and Philippines

CIW service also accepts cargo for Kaohsiung, Keelung, Taichung in Taiwan,China; Tokyo, Yokohama, Nagoya, Osaka, Kobe, Moji, Hakata in Japan; Busan in South Korea; Melbourne, Sydney, Brisbane in Australia; Manila, Subic Bay in Philippines and various other ports in SEA.

SINOLINES established in 1998 in China offers services to all the main cities and ports in China and coverage across the countries in the wider arc of the Asia-Pacific region.

The China-Japan and China-Chinese Taiwan routes have been established for several decades and SINOLINES is an entrenched, established player in this niche market of the sub-region.

China Merchant Group, with a commanding history of more than one and a half century, is a diversified conglomerate operating from Hong-Kong with established presence in various industries like transport,

finance, cities, industrial parks. Its transport wing owns a port operation group, a nation-wide toll road network, global logistics arm as well as world class cargo ship fleet which SINOLINES belongs to.

TRANSORIENT SHIPPING PRIVATE LIMITED, is trusted by SINOLINES as its agent in WEST and NORTH INDIA for its container shipping and

business.

The CMA CGM Group opens a new state-of-the-art inland depot in Mundra

• A 4 hectares, state-of-the-art and sustainable facility to provide increased productivity with enhanced service quality

• CMA CGM Group, a leading industry player in India, supporting customers’ supply chains through sea, land and logistics solutions.

MUNDRA: On 10th October 2024, Mr. Atit Mahajan, Managing Director of CMA CGM India, along with Mr. Jean Vanmalle, Vice President of CMA CGM Inland Services (CCIS), inaugurated the CMA CGM Group’s new inland depot facility in Mundra, India. The facility is spread over a 4 hectares area and will be compliant with the highest international standards to meet the demand from in and around Mundra Port The inauguration ceremony was attendedby representatives from the CMA CGM Group and CCIS India, Trade bodies and local officials.

A 4 hectares, state-of-the-art and sustainable inland container depot in Mundra

The CMA CGM Group has partnered withShubham Newport LLP (SNLLP) to create this high standard infrastructure. SNLLP is part of Shubham Group which is a third-generation shipping company based in Mundra with interests in various verticals of logistics such as Container Freight Station, Empty Container Depots, Warehousing and logistics.

The newly inaugurated CCIS Mundra depot is expected to handle approximately 155,000 TEUs per year from Mundra, which is one of the largest ports in India with a volume growth rate of 34% in the fiscal year 2023-24. CMA CGM Group, a leading industry player in India, supporting customers’ supply chains through sea, land and logistics solutions

CMA CGM Inland service (CCIS) is the CMA CGM Group’s global inland logistics armand has a presence in more than 30 countries. CCIS started its operations in India in 2016. CCIS is now handling a volume of around 929,000 TEUs annually, holding a strategic network covering 8 strategic locations with 11 inland container depots across

the country and 2 container freight station facilities in Dadri and Pipavav.

“We are very optimistic regarding the Group’s growth in India, which is a strategic country within CMA CGM’s network. With this depot, CCIS will cater to the demand of Mundra Ports with the world class standards of the CMA CGM Group” – said Atit Mahajan, Managing Director of CMA CGM India.

With more than 30 years of market presence in India, the CMA CGM Group is a leading industry player with over 15,000 staff members in India. CMA CGM connects the country to the rest of the world with 18 shipping services making weekly calls. CEVA Logistics, CMA CGM’s logistics arm, is currently present in 105 locations across 31 cities in India with approximately 870,000 square feet of warehouse space With the acquisition of Stellar VCS in 2023, CEVA Logistics strengthened its position as a key player in Indian contract logistics, offering its new diverse customers a wide range of global and local expertise in addition to increased operational efficiency and innovation

CONCOR ICD Kanakpura welcomes Japanese Delegation for exploring Trade opportunities

JAIPUR: The logistics and warehouse facilities

o f C O N C O R I C D Kanakapura was visited b y t h e F r e i g h t Forwarding Company - Nippon

E x p r e s s a n d D e l e g a t i o n o f Gar ment buyer from Japan, followed by a meeting held with the Cluster Head and Terminal Head on 9th Oct, informs a recent communique from CONCOR.

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

ADANI CMA MUNDRA CONTAINER TERMINAL

DP WORLD MUNDRA

17/10-PM Maersk Cairo 442S 4103502

EAST JAPAN, CHINESE PORTS

19/10-PM X-Press Phoenix 442E 4103617 X-Press Feeder Sea Consortium Singapore, Dalian, Xingang, Qingdao, Busan, Kwangyang, 21/10 Maersk Line Maersk India Ningbo, Tanjung, Pelepas, Port Kelang (NWX)

Asyad Line Seabridge Marine Shangai, Ningbo, Shekou (FEX) TBA Asyad Line Seabridge Marine Haiphong, Laem Chaban, Jakarta (IEX) TO LOAD FOR INDIAN SUB CONTINENT

In Port —/— Maersk Karun 441W 4093499 Maersk Line Maersk India Colombo (MW2 MEWA) 15/10 18/10 18/10-AM Marsa Neptune 2410 4103674 Sai ShippingSai Shipping Karachi (JKX)

19/10 19/10-AM Zhong Gu Hang Zhou24003E 4093600 Global Feeder Sima Marine Karachi (CSC)

TBA Asyad Line Seabridge Marine Karachi (REX)

CONTAINER VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

In Port Maersk Karun (V-441W) 4093499 Maersk India Nhava Sheva In Port Dimitra C (V-441W) 4093500 Maersk India Jebel Ali 17/10 Wan Hai 510 (V-182E) 4093659 Wan Hai Line Nhava Sheva

VESSEL’S NAME VCN NO. AGENTS FROM SAILED WITH EXPORT CARGO VESSEL'S NAME NEXT DEST.

CB-1 Maersk Karun (V-441W) Maersk india 15/10 CB-2 Dimitra C (V-441W) Maersk india 15/10

Marathopolis (V-441S) Salalah 11-10-2024 Norderney (V-88) Nhava Sheva 12-10-2024 Wan Hai 316 (V-220W) Nhava Sheva 13-10-2024

ADANI CMA MUNDRA CONTAINER

Global Trade could climb 3% in 2025 if MidEast conicts contained, WTO says

GENEVA: The World Trade Organization has nudged up its forecast for global trade volumes this year and said a further pick up to 3% growth was likely in 2025, assuming Middle East conflicts are kept in check.

Global trade recovered this year from a 2023 slump driven by high inflation and rising interest rates, the WTO report said. In April, the global trade watchdog forecast a 2.6% increase in volumes, which it revised up recently to 2.7%.

"We are expecting a gradual recovery in global trade for 2024, but we remain vigilant of potential setbacks, particularly the potential escalation of regional conflicts like those in the Middle East," said WTO DirectorGeneral Ngozi Okonjo-Iweala in a statement.

"The impact could be most severe for the countries directly involved, but they may also indirectly affect global

energy costs and shipping routes."

Israel's blitz against Lebanon's Hezbollah movement in recent weeks, following a year-long war against Hamas in Gaza, has stoked fears of an inexorable slide towards a pan-Middle Eastern war

The WTO also cited diverging monetary policies among major economies as another downside risk for the forecasts. This "could lead to financial volatility and shifts in capital flows as central banks bring down interest rates," the report said, adding that this would make debt servicing more challenging for poorer countries.

"There is also some limited upside potential to the forecast if interest rate cuts in advanced economies stimulate stronger than expected growth without reigniting inflation," the WTO said.

With 11% YoY growth in RMG of all Textiles

exports, India’s

textiles sector to grow to USD 350 Billion by 2030

PM MITRA Parks, PLI Scheme, and Naonal Technical Texles Mission to aract investment and propel exports

NEW DELHI: India’s textiles sector is set for significant expansion, with an 11% year-on-year growth in Ready-Made Garments (RMG) of all Textiles exports, as per India’s trade data of August 2024, signaling a bright future. The Textiles sector in the country is expected to grow to USD 350 billion by 2030, driven by India’s inherent strengths and a strong policy framework that encourages investment and exports With end-to-end value chain capability, a strong raw material base, a large export footprint and a vibrant and rapidly expanding domestic market, India is a traditional leader in the textiles sector. The encouraging reports of a number of investment decisions in the pipeline are healthy portents for the industry

A number of schemes and policy initiatives as part of the government’s roadmap aim to leverage and catalyse these inherent strengths to help the textile sector achieve the USD 350 billion goal by 2030. While over Rs. 90,000 Crore of investment is expected to flow through PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) Scheme in the next 3-5 years, schemes like the National Technical Textiles Mission are expected to help India acquire leadership position in emerging sectors such as technical textiles.

Last month, Prime Minister Shri Narendra Modi laid the foundation stone of the PM MITRA Park at Amaravati in Maharashtra. This is one of the 7 Parks sanctioned across the country under the flagship PM MITRA Park scheme. With world class infrastructure including plug and play facilities, PM MITRA Parks shall be a major step in realizing the vision of making India a global hub for textile manufacturing investment and exports. Each PM MITRA Park when complete is expected to attract an investment of Rs 10,000 crores and generate nearly 1 lakh direct employment & 2 lakh indirect employment.

PLI Scheme, with a total projected investment of over Rs. 28,000 crore, projected turnover of over Rs. 2,00,000 crore and proposed employment generation of nearly 2 5 lakhs is intended to promote production of MMF Apparel & Fabrics and Technical Textiles products in the country to enable textile industry to achieve size and scale.

The National Technical Textiles Mission is specialized mission with a focus on developing usage of technical textiles in various flagship missions and programmes of the country including strategic sectors. The Mission promotes startups and research projects covering

specialty fibres and composites, geotextiles, agro textiles, protective textiles, medical textiles, defence textiles, sports textiles, and environment friendly textiles.

The supportive policy framework at the central level is supplemented by the policy initiatives of a number of states with a high growth potential in textiles.

"There is also some limited upside potential to the forecast if interest rate cuts in advanced economies stimulate stronger than expected growth without reigniting inflation," the WTO said.

NOTICE TO CONSIGNEES

m.v. “MSC CONAKRY IV” V-OM441A I.G.M.No.

2390389 Dtd. 10-10-24

The above vessel has arrived on 08/10/2024 at MDPT (MUNDRA) with Import cargo from LAEM CHABANG,

NOUMEA, PORT KLANG (PELABUHAN KLANG), SALALAH, SOKHNA PORT, SYDNEY

Please note the item Nos. against the B/L Nos. for MDPT (MUNDRA) delivery

MUNDRA

Consignees are requested to kindly note that the above item nos. are for the B/L Nos. arrived for MUNDRA delivery

Consignees are requested to collect Delivery Order for all imports delivered at MUNDRA from our Import Documentation Dept. at Office N307, 3rd Fl, New Port Users Bldg NO. 5-A-1 Navinal Island,Kutch - 370421on presentation of duly discharged Original Bill of Lading and payment of relevant charges.

The container detention charges will be applicable after standard free days from the discharge of containers meant for delivery at MUNDRA .

The containers meant for movement by road to inland destinations will be dispatched upon receipt of required documents from consignees/receivers and the consignees will be liable for payment of port storage charges in case of delay in submission of these documents. Our Surveyors are M/s. Zircon Marine Services Private Limited. and usual survey conditions will apply. Consignees are also requested to note that the carriers and their agents are not bound to send individual notification regarding the arrival of the vessel or the cargo.

In case of any query, kindly contact Import Customer Service - IN363-comm.mundra@msc.com; Get IGM No. / ITEM No. /CFS details on our 24 hrs computerized helpline No. (IVRS No.) 8169256872

You can also visit our website: msc.com/ind/help-centre/tools/import-general-manifest-information Invoices and Delivery order request must only be done in ODEX portal uploading all supporting documents As Agents :

MSC AGENCY (INDIA) PRIVATE LIMITED

Office N307, 3rd Fl, New Port Users Bldg NO.

JSW Infrastructure receives LOI from MMB for developing

All Weather and Multipurpose Port in Palghar

M U M B A I : J S W

I n f r a s t r u c t u r e announced that it has received has Letter of Intent from Maharashtra Maritime Board (MMB) for “Development, O p e r a t i o n , M a n a g e m e n t a n d Maintenance of an All Weather and Multipurpose Port at village Murbe in Palghar District of Maharashtra” on Public Private Partnership (PPP) basis – Design, Built, Own, Operate and Transfer (DBOOT) Model.

The LOI is valid for the period of 24 months, with a further extension clause. The royalty payable is based on per metric ton which will be

escalated in the block period of 5 years. The remaining terms and condition will be governed as per the Maharashtra Maritime Development Policy-2023 (MMDP 2023).

The contract is contingent on fulfilling the stipulated terms and conditions Upon meeting these conditions, MMB will enter into a concession agreement (CA) for the project, which will be valid for 70 years.

The proposed Murbe port aims to be an all-weather, multi-cargo c

strategically located near major

Highway 8 and Boisar Road, as well as key rail corridors like the Delhi-

Corridor.

This greenfield project aligns with the company’s growth plan for FY2030, aiming to boost capacity from 170 million tonnes per annum (MTPA) to 400 MTPA

JSW Infrastructure, part of the JSW Group, is the second-largest commercial port operator in India in terms of cargo handling capacity and specializes in developing and operating ports and terminals under port concessions.

Center considers creating Seed Funding to set up a Maritime Insurance Entity

NEW DELHI: An inter-ministerial consultation process has been ongoing this year to create the marine insurance entity, with industry representatives’ participation.

Centre is now considering establishing its own funds as preliminary investment for launching shipping insurance entity, as there is delay in creating a protection and indemnity (P&I) entity to insure cargo vessels. This approach would involve private insurers and shippers contributing at a secondary stage.

More than a year after Union F i n a n c e M i n i s t e r N i r m a l a S i t h a r a m a n ’ s u n e x p e c t e d announcement calling for a P&I entity, the lack of regulatory clarity and the nascency of the Indian shipping sector have slowed progress on this key initiative.

The Ministry of Ports, Shipping, and Waterways initially requested insurers and shipping companies in February to provide the first layer of i n s u r a n c e f o r s h i p p e r s a n d shipbuilders, with reinsurance expected to be managed by larger global players in a second layer

According to the Ministry of Ports, Shipping, and Waterways, several rounds of discussions were held regarding this, but the quantum of funds the industry is willing to commit won’t be much. Now the Ministry is exploring options, including the possibility of an initial ‘seed’ fund once legislative provisions are in place.

This could be done directly or through the Maritime Development Fund, but it will need firm structure and clarity from the Department of Financial Services (DFS) before finalising anything, according to officials.

An inter-ministerial consultation process has been ongoing this year to create the marine insurance entity, with industry representatives’ participation.

Officials say the finance ministry is likely to propose an amendment to the Insurance Act, allowing mutual insurance associations — a critical provision that has impeded the formation of a P&I club. For now, the government is Initially, the proposed P&I entity would cover only coastal and riverine vessels, which fall

outside the international P&I framework and carry a lower risk profile.

T h e M i n i s t r y

x p

o

i n g international partnerships to pool funds for the insurance entity, potentially with government-backed funds or other P&I clubs, the official said, adding, but this would occur later, when the entity would be handling export-import cargo.

Indian-owned ships are currently insured in various countries, with premiums substantially higher for vessels navigating volatile regions like West Asia and Russia. The s h i p p

s t r y a n d o t h e r stakeholders want to explore options, possibly a mutual insurance model.

P&I insurance offers shipowners’ coverage against costs in the event of accidents that could impact cargo, human lives, and the environment. This coverage is typically provided through not-for-profit clubs of l i k e - m i n d e d s h i p o w n e r s . T h e International Group, comprising 12 P&I clubs, offers marine liability coverage to approximately 90-95 percent of the world’s sea tonnage.

Kerala Govt to develop catchment area around Vizhinjam Port : Industry Minister

T H I R U VA N A N T H P U R A M : Kerala government plans to establish a catchment area and assembly

c l u s t e r a r o u n d V i z h i n j a m International Seaport, as announced by Kerala Industries Minister Shri P. Rajeeve. He stated that the catchment area will serve as a hub for industrial activities beyond district and state borders. The initiative will i n c l u d e t h e e s

components, assemble them, and export the final products.

Additionally, the Government is considering the creation of logistics parks every 20 kilometers to enhance the port’s capabilities, aligning with the state’s newly released logistics policy One such park by Kinfra is currently under consideration.

Minister Rajeeve also mentioned exploring the potential connection between the industrial smart city in

Palakkad and Vizhinjam, with steps underway to acquire land for industrial developmentthroughlandpooling.

During his visit to the port, he was accompanied by key officials, including Principal Secretary of Industries A.P.M. Mohammed Hanish, KSIDC Managing Director S. Harikishore, Vizhinjam Port MD Divya S. Iyer, A d a n i P o r t s C E O P r a n a v Choudhary, and Adani Vizhinjam PortCEOPradeep Jayaraman.

India re-elected to International Maritime Organisation (IMO) Council

LONDON: India re-elected to the I n t e r n a t i o n a l M a r i t i m e Organisation (IMO) Council with the highest tally, and the term of council will be for the biennium 2024-25 India’s re-election falls under the c a t e g o r y o f 1 0 s t a t e s w i t h “the largest interest in international s e a b o r n e t r a d e ” , a l o n g s i d e Australia, Brazil, Canada, France, Germany, the Netherlands, Spain, Sweden, and the United Arab Emirates (UAE).

Union Minister for Ports, Shipping

and Waterways Sarbananda Sonowal said the highest votes are indicative of the government’s determination to s t r e n g t h e n I n d i a ’ s v a r i e d contributions to international maritime operations.

The council is the executive organ of IMO and is responsible, under the assembly, for supervising the work of the organization.

Between sessions of the assembly, the council performs the functions of the assembly, except that of making recommendations to governments on

maritime safety and pollution prevention.

According to the statement, under t h e M I V 2 0 3 0 t o e n h a n c e representation at IMO, India aims at a p p o i n t i n g p e r m a n e n t representatives at IMO London.

The Indian delegation was led by Secretary, Ministry of Ports, Shipping and waterways, T K Ramachandaran, with members including DG Shipping Shyam Jagannathan, officers of DGS, High Commission of India at London, and industry representatives.

India replaces China in Gaadhoo Transshipment port project in Maldives

NEW DELHI: The transshipment port project at Gaadhoo Island, in Laamu (L.) Atoll, will now go forward with India’s involvement, the Mohamed Muizzu administration has decided.

The Maldives and India, during President Muizzu’s visit to India, agreed to work together to develop the transshipment ports at Gaadhoo and the Ihavandhippolhu region.

A M e m o r a n d u m o f Understanding (MoU) was signed with China CAMC Engineering Company Limited on 11 April to establish an integrated maritime hub at Gaadhoo, with the stateowned Maldives Ports Limited (MPL) taking the lead.

However, while CAMC has been b

r international banks, satellite images

confirm that no practical work has yet been carried out.

The administration has not confirmed whether the awarding of the Gaadhoo project to CAMC has been annulled. As such, it is not clear how the administration intends to m o v e f o r w a r d w i t h I n d i a ’ s involvement-neither the Maldives nor India have provided additional details.

Global demand for Containers and LNG Vessels likely to shrink: VesselsValue

Geopolitical tensions, such as the Houthi attacks in the Bab Al Mandeb Strait, are creating both risks and opportunities for shipping.

LONDON: VesselsValue in its latest report predicted that orders for bulkers and tankers will gain momentum, while demand for containers and LNG/LPG vessels will decline Despite the expected rise in bulker and tanker orders, the overall orderbook will likely shrink due to a surge in deliveries for container and gas vessels.

Geopolitical tensions, such as the Houthi attacks in the Bab Al Mandeb Strait, are creating both risks and o p p o r t u n i t i e s f o r s h i p p i n g The rerouting of vessels has supported various shipping segments, but the volatile nature of the conflict introduces significant uncertainty. A sudden halt in attacks could negatively impact shipping, while prolonged disruptions could offer upside potential.

It expects Russian oil exports to continue to decline, with Europe sourcing from suppliers further afield such as the Middle East and Gulf (MEG), US and Latin America, and this will continue to support ton mile demand and therefore rates going forward.

Tanker ordering activity has continued at a relatively strong pace in 2024, already equaling order activity seen in 2023 at 36 mil DWT, levels not rivalled since 2017. The delivery schedule for 2024 is low, however, will gain pace in 2025 and onwards. The total tanker orderbook to fleet ratio, currently at 12%, has been increasing through 2023 and 2024.

A low orderbook and limited supply

g r o w t h c o n t i n u e t o s u p p o r t a fundamentally strong bulker market

going forward Moderate demand growth is expected as interest rates ease in developing economies, investment in green energy accelerates and changing tradeflowsincreaseton-miles

Bulker values have increased significantly in the last year due to improving sentiment, and despite solid freight rate expectations, the potential upside looks limited due to already elevated levels. Secondhand values are also expected to receive downward pressure from declining newbuilding prices when the ordering activity of container and LNG vessels subside.

Rerouting has been a strong driver of demand growth this year, as longer journeys around the Panama Canal and the Suez Canal have increased sailing distances and ton-miles. The situation in Panama is improving and is expected to normalise in Q4. However, the conflict in the Red Sea remains highly uncertain with no end in sight, and so far this year, bulker transits through Suez have declined 37%.

Additionally, the ongoing war in Ukraine has extended shipping distances, which is expected to keep ton-mile values elevated, as the Western economies’ separation from Russia appears to be a long-term shift.

Despite several stimulus measures initiated by the Chinese government, there has been no sign of improvement in the Chinese real estate sector This will likely continue taking its toll on the C h i n e s e s t e e l p r o d u c t i o n , a s construction activity eases.

With the current conflict in the Red Sea, freight rates have increased

sharply and are expected to stay at high levels throughout 2024. Longer sailing distances, congestion at ports and an earlier than expected peak season have increased demand for goods and supply has not managed to keep up with this pace

Vessel supply growth in our forecast period will at some point outpace demand despite the Red Sea conflict, and this will affect freight rates for all sizes. Net fleet growth was recorded at 5.4% in 2023 which we expect will rise at an average pace of 7.8% between 20242027.

It expects LPG production to grow at a more moderate pace than previous years and forecast a growth of 4.4% in 2024, despite a strong 1Q24 Exports out of the US have been strong so far this year, but with less production growth for the remainder of the year and an expected active hurricane season The VesselsValue forecast anticipates export growthof7%comparedto13.4%in2023. Asian demand for LPG is forecasted to see growth in 2024 for propane dehydrogenation (PDH) plants and domestic consumption The PDH capacity in China is expected to increase with 7 million tons this year, but with muted operating rates, the report does not expect full utilisation. So far this year, there has been a decline for all petrochemical gases as Asian demand is muted and US exports are seeing difficulties with the ongoing hurricane season. From 1Q25, a new ethylene ter minal expansion is expected to go live and boost US ethylene export trade.

DPA sets New Benchmarks in Cargo handling and Overall Port Efficiency

Cont’d. from Pg. 3 which are highlighted below :-

Single Day Records: –

1. DPA created a new 24 hrs. cargo record in handling of U.S. steam coal, when the vessel MV Baby Hercules handled 47910 MTs in 24 hrs. on 11.9.2024 at Tuna tekra berth, by surpassing the previous best handling of 47720 MTs handled on 29.6.2022 at Tuna tekra by the vessel MV Aradne.

2. DPA created a new 24 hrs. cargo record in handling of GSSP fertilizer (dry cargo), when the vessel MV Sea star Ciking exported 26336 MTs in 24 hrs. on 28.9.2024 at Kandla, by surpassing the previous best handling of 24570 MTs handled on 9.5.2023 by the vessel MV Amber Star

3. DPA created a new record in handling of Pet coke, when the vessel MV Idomeneas handled 55700 MTs in 24 hrs. on 18.4.2024 at Kandla, by surpassing the previous best handling of 49655 MTs handled on 29.6.2022 by the vessel MV Greco Libero.

12. DPA created a new monthly handling record in Salt(exports), when it handled 1663618 MTs in June-24 at Kandla, thereby surpassing the previous best handling of 1284545 MTs handled in Jan-24.

4. DPA created a new record in handling of Met coke, when the vessel MV Progress Trader handled 26300 MTs in 24 hrs. on 6.7.2024 at Kandla, by surpassing the previous best handling of 20716 MTs handled on 11.7.2022 by the vessel MV Skopelos.

5. DPA created a new record in handling of salt (exports), when 6 salt vessels (5 at berth & 1 at Mid stream) handled a total of 144515 MTs in 24 hrs. on 22.9.2024, surpassing the previous best of 105602 MTs achieved through 5 vessels in a single day on 2.3.2024.

Monthly records: –

6. DPA created a new monthly handling record in Other Foodgrains (imports) which include Jowar, Bajra, maize, chick peas, yellow peas etc., when it handled 173479 MTs in May-24 at Kandla, thereby surpassing the previous best handling of 135279 MTs handled during Jun-24.

7. DPA created a new monthly handling record in Miscellaneous cargo (imports), when it handled 255480 MTs in Apr-24 at Kandla, thereby surpassing the previous best handling of 251547 MTs handled during July-23.

8. DPA created a new monthly handling record in Total imports, when it handled 9359391 MTS in May-24 at Kandla, thereby surpassing the previous best handling of 9207952 MTs handled during Mar-24.

9. DPA created a new monthly handling record in Liquid Chemicals (imports & exports combined), when it handled 585580 MTs in May-24 at Kandla, thereby surpassing the previous best handling of 553191 MTs handled during Sept-2012.

10. DPA created a new monthly handling record in Edible oil(exports), when it handled 79253 MTs in Apr-24 at Kandla, thereby surpassing the previous best handling of 48237 MTs handled during Nov-23

11. DPA created a new monthly handling record in Other Dry cargo category(exports) consisting of cargoes such as Sugar, Oil extractions, salt, silica sand, RoRo traffic, containers (exports) & other miscellaneous cargoes (exports), when it handled 2595464 MTs in Jun24 at Kandla, thereby surpassing the previous best handling of 2401873 MTs handled during in Feb-23.

Salient Features: –

13. Handling of RoRo cargo officially started (at Gogha / Hazira) during fy 2024-25, after a gap of 86 months. RoRo cargo was last handled at Kandla between Oct-2016 & Apr-2017.

14. In terms of handling ships with a parcel size of 50000 MTs and above, DPA created a new record by handling 507 cargo ships in first 6 months of FY 2024-25 (upto Sept-24) erasing the previous handling record of 459 ships in first 6 months of FY 2022-23.

15. In terms of handling ships with a parcel size of 100000 MTs and above, DPA created a new record by handling 171 cargo ships in first 6 months of FY 2024-25 (upto Sept24) erasing the previous handling record of 157 ships in first 6 months of FY 2021-22

16. DPA rewrote its own history, by registering record fastest times as compared to any of the fiscal years till date, while handling 50 MMT of cargo on 7 8 2024 (11 days before as compared to last fiscal year), 60 MMT on 3 9 2024 (13 days before as compared to last fiscal) & 70 MMT on 28 9 2024 (16 days before as compared to last fiscal)

DPA created a new record in terms of handling maximum number of salt vessels by handling 156 cargo vessels in first 6 months of current fiscal i.e. FY 2024-25 (Upto Sept-24), thereby surpassing the previous best of 89 vessels handled in FY 2022-23 (upto Sept-22).

Shri Sushil Kumar Singh, IRSME, Chairman DPA, extends his sincere appreciation to all port users, stakeholders, trade unions, officials, employees and workers for their steadfast commitment and cooperation over the past six months. Their continuous support and dedication have played a pivotal role in the successful journey of Deendayal Port Authority

Further Chairman DPA also congratulates the Traffic Manager and his entire team for their outstanding performance and tireless efforts over the past six months Their strategic planning, efficient execution and unwavering dedication have been instrumental in achieving consistent growth and operational success at Deendayal Port Authority

The team's commitment to excellence continues to drive DPA forward, setting new benchmarks in cargo handling and overall port efficiency.