GUJ-26-02-2024

VPA embarks on modernisation of Inner Harbour’s EQ6 berth for enhancing cargo handling capacity

VISAKHAPATNAM: Visakhapatnam Port Authority has issuedaLetterofAwardtoM/s.EVERSUNMarineTradePrivate Limited, Visakhapatnam, for a PPP project – Development and Mechanisation of East Quay – 6 Berth in the Inner Harbour of Visakhapatnam Port for handling all types of cargos, on DBFOT (design, build, finance, operate & transfer) basis

The proposed facility is a semi-mechanisation of the existing EQ-6 Berth with berth length of 255 metres, which involves installing new Harbour Mobile Crane (HMC) with 1,500 TPH and Mobile Hopper of 150 T along with other

handling equipment cranes, loaders, trucks, fork lifts with an investment of 66.12 crore, in order to handle all types of cargos with a handling capacity of 2.62 MMTPA

The facility is envisaged for handling vessels up to 50,000 DWT, maximum LoA of 200 metres with a beam of 32 metres at a draft of 11.50 metres.

The entire construction work, including installation of new HMC and other project facilities, is likely to be completed within 15 months from the date of award of concession. The total PPP period is 30 years.

The setting up of the shop is subject

committee’s approval.

The proposal made to GIFT SEZ Authority is “for approvals to set up a ship leasing firm to carry on the business of Operating Lease of ships, vessels and voyage charters,” sources said.

SeaLead

Launches

FIX2

Service to boost Trade Links between China and India

SINGAPORE: SeaLead, a fast-growing global shipping line, announced the launch of its latest service, the Far East India Express 2 (FIX2) This service underlines SeaLead's commitment to broadening its network and promoting efficient global trade, particularly at a time when trade relations in the region are witnessing significant growth.

MUNDRA

Customer

E-mail : menka.h@sbmapl.com

Ms. Ishmit Kaur Sikh : Tel: 02836 -269116, E-mail : ishmitkaur.s@sbmapl.com

Sales : Mr. Jitendra : 9558007507, E-mail : jitendra.r@sbmapl.com

Mr. Rohit Bhagia : 8141284340, E-mail : sales.mundra@pmapl.com

LUDHIANA: SCO No. 25, 1st Floor, Sector 32 A, Urban Estate Market, Chandigarh Road, Ludhiana -141 010. (Punjab), Tel : (91-161) 4091101, Fax : (91-161) 4091114

CTC: Mr. Inderpreet : 7837008661, Email: inderpreet.s@sbmapl.com

AHEMEDABAD: B/802, Ratnaakar Nine Square, Opp. Keshavbaug Party Plot, Mansi Circle Road, Vastrapur, Ahmedabad - 380 015, Tel : (079) - 66666201, CTC : Mr. Abhishek Parikh : 9714299003, Email: abhishek.p@sbmapl.com

Sales & Marketing : Mr. Ajeet Sharma : Mob.: 9662296717, Email: ajeet.s@sbmapl.com

Customer Service : Mr. Yagnesh Verav : Tel: 8733965489 E-mail: yagnesh.v@sbmapl.com

Mr. Jitendra Chitnis : Tel: 079-66666210 E-mail : jitendra.c@sbmapl.com

PSA Mumbai welcomes mv Maersk Chachai on its maiden call

NAVI MUMBAI: PSA Mumbai is proud to welcome MV MAERSK CHACHAI as it makes its maiden

Thursday, 22nd Feb 2024 at 1300 hrs., informs a recent communique from PSA Mumbai This marks the start of the highly anticipated MEWA service (Middle East West Africa Service), also known as MW2, connecting to the Middle East and West Africa.

Milaha’s Board of Directors appoints Fahad Bin Saad Al-Qahtani as a new Group CEO

DOHA: Qatar Navigation Q.P.S.C. ("Milaha") announced the appointment of the Board of Directors of Mr. Fahad Bin Saad Al-Qahtani, as the new Group CEO, marking the inauguration of a new era for the company, which has witnessed and achieved unprecedented achievements during its successful journey. Mr. Al-Qahtani will assume his new position as the Group CEO after holding senior leadership positions in many institutions and sectors, local and international, among them are SLB (Schlumberger Oilfield Services previously), Qatar Fuel Additives Company (QAFAC), Qatar Foundation for Education, Science and Community Development (QF), and the most recent was the CEO of Mowasalat (Karwa). Through his experience, Mr. Al-Qahtani attained developmental achievements and prestigious national projects that provided him with administrative insight and practical experience of more than twenty years in various fields.

Mr Al-Qahtani holds a bachelor’s degree in Engineering Management from the University of Hertfordshire, United Kingdom, and graduated from the Executive Leadership Program at the University of Oxford, United Kingdom.

On the occasion of the appointment of the new Group CEO, His Excellency Sheikh Jassim Bin Hamad Bin

Jassim Bin Jaber Al-Thani, Chairman of Milaha’s Board of Directors, said: “We are pleased with the joining of Mr Fahad Bin Saad AlQahtani as a Group CEO of Milaha c o m p a n y, w h i c h c a m e a s a culmination of the efforts and endeavours of the Board to continue the path to success achieved by the company and implement the highest strategies related to modernization of the business sector and shareholders.”

Meanwhile, Mr. Fahad Bin Saad Al-Qahtani said: “I am thankful and appreciative to the Chairman of the Board of Directors and esteemed Board members for their trust in me and for assigning me with this position.” He added: “It is of great honour for me to assume responsibility of such position in a prestigious company as Milaha, that specializes in providing the best maritime and logistic services not only in Qatar, but throughout the Middle East and the world.”

The Board of Directors expressed their thanks to Mr. Mohammed Abdulla Swidan Al-Aqeedi for his constructive contributions to the successes achieved by the company during his term as Interim Group CEO

“Atmanirbhar Bharat will become foundation for Viksit Bharat,” PM Modi

VARANASI: Highlighting the difference between the thought processes of the previous and the present government, Prime Minister Shri Narendra Modi on Friday said that ‘Atmanirbhar Bharat’ will become the foundation for Viksit Bharat.’

He emphasized that Atmanirbhar Bharat will become a reality only when the smaller possibilities in the country are reenergized, and the small farmers, pashupalaks, craftsmen and small and medium industries are provided assistance.

Prime Minister said that the call for Vocal for Local is an advertisement for the small players in the market who cannot spend on television and newspaper commercials.

“Modi himself advertises those who produce indigenous goods”, he said, “Modi is the ambassador of every small farmer and industry, be it the promotion of Khadi, toy manufacturers, Make in India, or Dekho Apna Desh.”

The Prime Minister further said that “Uttar Pradesh

has decided to give 100 per cent seats to Modi, t o N D A ( i n L o k S a b h a elections).”

He observed that the impact of such a call can be w i t n e s s e d i n K a s h i i t s e l f where more than

12 crore tourists have visited the city since the rejuvenation of Vishwanath Dham leading to a surge in income and employment opportunities.

Referring to the launch of an electric catamaran vessel provided by Inland Waterways Authority of India (IWAI) for Varanasi and Ayodhya, PM Modi said that it will create a unique experience for those visiting.

Greece is natural entry point for India to tap the European market : Greek PM

N E W D E L H I : G r e e c e a n d I n d i a have a “lot of complementarities” in shipping, pharma and other sectors, G r e e k Pr i m e M i n i s t e r Ky r i a k o s Mitsotakis recently said as he emphasised that his country is the natural entry point for Indian companies to tap the European market.

Addressing the ‘India-Greece Business Forum’, organised by FICCI and Enterprise Greece here, he said Greece and India have a “lot of complementarities” in shipping, pharma, such as defence, drones, agriculture, information and communication technology, tourism.

in 16 years, and his trip is a follow-up to Indian Prime Minister Narendra Modi’s visit to Athens last year, the first by an Indian premier in four decades.

He said “we expect to make concrete announcements very soon regarding the signing of the mobility migration agreement, enabling more Indian labour to come to Greece in an organised manner”.

On a sector-to-sector approach, the prime minister said, “ You will realise that there’s a lot of complementarities between sectors where Greece has a comparative advantage and where India is also quite strong.” “I can see interesting natural synergies emerging in the technology space,” he added.

Mitsotakis is the first Greek premier to travel to India

According to him, drones, sea drones, shipping, pharma, financial services, banking, insurance agriculture, among others, are such areas where Greece sees a lot of complementarities with India.

“We have great people to people, connections, we have a vibrant Indian community in Greece, and we want to foster these connections much further,” he emphasised.

The Prime Minister added that Greece’s location is such that it is the natural entry point for Indian companies to enter the European market.

After Brexit, Indian companies will be looking for a new European anchor to access the European market.

Mumbai-Ahmedabad Bullet Train Project

to prove as a corridor of economic prosperity : Ashwini Vaishnaw

NEW DELHI: Railway Minister Shri Ashwini Vaishnaw has said that Mumbai-Ahmedabad Bullet Train Project will prove to be a corridor of economic prosperity, transforming towns and cities along the route and becoming a learning experience for future initiatives.

“Trains will zip through the tunnel at a maximum speed of up to 320 km. Constructing it without disturbing the tall buildings in the area is a challenge,” the railway minister said.

The shaft at the Vikhroli site of the National High Speed Rail Corridor is one among the four to be built for the entire 21-km-long underground stretch of the

Mumbai-Ahmedabad Bullet Train Project.

The shaft-2 will be used t o l a u n c h t w o T B M s — one towards the Bandra-Kurla Complex (BKC) station’s east end and the other towards Sawli in Navi Mumbai.

Vaishnaw also reviewed the progress of construction of the BKC station, which is the starting point of the Mumbai-Ahmedabad bullet train.

CJ-VI

CJ-VII

CJ-VIII

CJ-IX

CJ-X Gautam Ananya Ocean Harmony 29/02

CJ-XI VACANT

CJ-XII VACANT

CJ-XIII Olympia Logger DBC 01/03

CJ-XIV Chintana Naree Mihir & Co. 03/03

CJ-XV Lady Ayana ACT Infra 02/03

CJ-XVA Jin Hai Hua Chowgule Bros 01/03

CJ-XVI VACANT

TUNA VESSEL'S NAME AGENT'S NAME ETD Alice Oldendorff

OIL JETTY VESSEL'S NAME AGENT'S NAME ETD

OJ-I

OJ-II

OJ-III VACANT

OJ-IV

OJ-V

OJ-VI

OJ-VII

LIQUID CARGO VESSELS

SHIPS

WITH EXPORT

m.v. “ZOI” V - 112E

The above vessel is arriving at MUNDRA PORT on 03-03-2024 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.

Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.

First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201

Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433

Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com

Mr. Vijay Anand - 9824504315 Email : anand.vijay@zim.com

Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com

NOTICE TO CONSIGNEES

m.v. “MSC VIRGINIA” Voy : FD352E

I.G.M. NO. 2369400 DT 21-02-24 Exch rate 85.43

The above vessel has arrived on 21-02-2024 at MUNDRA PORT with Import cargo from SANTOS, MONTREAL, VALPARAISO, BARCELONA, VALENCIA, THESSALONIKI, MUNDRA, ANCONA, BARI, GIOIA TAURO, NAPLES, RAVENNA, TRIESTE, VENICE, KOPER, ANTALYA, GEMLIK, SAMSUN, LOS ANGELES, OAKLAND, NORFOLK, SEATTLE. Please note the item Nos. against the B/L Nos. for MUNDRA delivery.

MUNDRA

Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. 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.

- Charges enquiry on land line - 619100

No.(079) 40072804

m.v. “MSC VIRGO” Voy : XA407A

I.G.M. NO. 2369442 Dtd. 21-02-24 Exch rate 85.49

The above vessel has arrived on 22-02-2024 at MUNDRA PORT with Import cargo from GENOA.

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

MUNDRA PORT SEZ

The above vessel has arrived on 22-02-2024 at MUNDRA PORT with Import cargo from SANTOS, FELIXSTOWE, LONDON GATEWAY PORT, LIVERPOOL.

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

GANDHIDHAM

The above vessel has arrived on 22-02-2024 at MUNDRA PORT with Import cargo from HAMBURG.

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

KANDLA-SEZ/GANDHIDHAM

The above vessel has arrived on 22-02-2024 at MUNDRA PORT with Import cargo from ANTWERP, COTONOU, ABIDJAN, HAMBURG, VALENCIA, FOS-SUR- MER, FELIXSTOWE, LONDON GATEWAY PORT, LIVERPOOL, CORK, TAMATAVE, ROTTERDAM, SALALAH, SINES, POINTE DES GALETS, ALIAGA,GEMLIK, MUKALLA, CAPE TOWN, COEGA.

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

MUNDRA

74

75

76

77

78

79

8

80

81

82

85

86

87

88

89

9

90

91

92

Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. 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.

-

-

Cont’d from Pg. 4

Reliance Industries becomes the first conglomerate to set up ship leasing firm at IFSC Gift city

“Reliance has approached International Financial Services Centres Authority (IFSCA )for approvals to set up a ship leasing firm to carry on the business of Operating Lease of ships, vessels and voyage charters,” a source said.

O n t h e f i n a n c i a l a s p e c t , the information reviewed show that the, “Free on Board (FOB) value for the export of services for a five-yearperiod is projected at Rs. 10,780.41 crore (Rs. 2,156 crore per annum). The foreign exchange outgo is Rs 10,397 crore, resulting in a Net Foreign Exchange (NFE) of Rs. 383 crore.”

“IFSC Authority has received a p p l i c a t i o n f r o m R e l i a n c e International Leasing IFSC Ltd,” said Mr Dipesh Shah, Executive

PM

Director (Development), IFSCA “We are seeing great interest from institutions to set up ship leasing business from GIFT IFSC. Currently, at IFSC, we have authorised seven entities and three in-principle approvals. Already three ships have been leased into India from IFSC,” he added.

A total of 35 people will be employed with a NFE of Rs. 38,330 crore in five years.

Ship leasing is the latest addition to the gamut of activities permitted by the regulatory authority IFSC at GIFT city

Incidentally, Ripley Shipping India IFSC Private Ltd was the first company to lease a vessel from the GIFT City The company received a certificate of registration from IFSCA in March 2023 to operate in GIFT City

MV Ripley Pride is a bulk carrier (Panamax) that was built in 2003 in Japan with a carrying capacity of about 76,858 deadweight tonne (DWT).

Earlier, Indian entities went to Dubai and Singapore to create a shipping venture, due to want of regulations and tax clarity in India. Setting up a ship leasing entity at GIFT city allows Indian entities to transact in foreign currency This is enabling Indian firms who shifted overseas due to regulations and taxes to come back to IFSC in India, thereby helping to onshore the offshore financial services.

Currently, only Indian flag ships are allowed in IFSC-GIFT city (like in the Domestic Tariff Area) because it comes under the Merchant Shipping Act, 1958.

Modi inaugurates various Green Waterway Initiatives in Varanasi, marks Milestone in Clean Energy and Tourism

VARANASI: Under the visionary leadership of the Prime Minister Shri Narendra Modi and the able guidance of Union Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, India achieved a new milestone in clean energy and responsible tourism. During an event in Varanasi in Uttar Pradesh, Prime Minister Shri Narendra Modi dedicated to the nation two hybrid electric catamaran vessels – MV Guh and MV Nishadraj- built by Cochin Shipyard Limited (CSL) through Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways (MoPSW).

MV Guh will sail on the River Saryu in Ayodhya, and MV Nishadraj on the River Ganga in Varanasi. These state-of-the-art vessels, with a seating capacity of 50 passengers each, are powered by fast-charging batteries and are designed to reduce carbon emissions by 400 MT annually These green vessels will promote religious tourism in the state Indigenously built by Cochin Shipyard Limited, they will now be operated by the Uttar Pradesh Government.

Along with this, Prime Minister Shri Narendra Modi inaugurated four community jetties on the ghats of Varanasi and laid the foundation stone for 13 community jetties along National Waterway 1 (NW 1) in Varanasi and National Waterway 110 in Mathura and Prayagraj in Uttar Pradesh.

The Jal Marg Vikas Project (JMVP) being implemented by the

Inland Waterways Authority of India aims to improve the navigability of the 1390 km stretch of NW1 from Varanasi in Uttar Pradesh to Haldia in West Bengal. Sixty community jetties are being developed under JMVP to i m p r o v e t h e s o c i o - e c o n o m i c condition of people living along NW1 (the Ganga-Bhagirathi-Hooghly river system) These community jetties aim to provide local farmers, traders, industries ease of access to nearby markets, thereby offering better o p p o r t u n i t i e s f o r t r a d e a n d employment, promoting tourism, and improving hinterland connectivity.

Besides this, a Quick Pontoon O p e n i n g M e c h a n i s m S y s t e m (QPOMS) was also inaugurated.

MoPSW aims to boost the share of Inland Water Transport (IWT) to 5% by 2030 as part of the Maritime India V i s i o n ( M I V ) , s i g n a l i n g a comprehensive effort towards fostering maritime sector growth and connectivity enhancement.

Under the Maritime Amrit Kaal Vision 2047, 46 initiatives have been outlined, with key measures aimed at enhancing the modal share of coastal shipping and inland water transport. These initiatives include the creation of port-based agglomeration centers a n d c o a s t a l b e r t h s n e a r production/demand centers along the coast. Additionally, there are plans for road, rail, and inland waterway connectivity and expansion projects, as well as efforts to reduce port dues and ter minal charges Fiscal incentives, such as allowing input tax credit on bunker fuel and spares purchased from various states, along with the reduction of GST for multimodal transportation, are also p r o p o s e d . O p e r a t i o n a l i z i n g 50 waterways by 2047 and introducing low-draft vessel designs, possibly in c o m b i n a t i o n w i t h t u g - b a r g e configurations, are among the strategies aimed at furthering these goals.

ZIM INTEGRATED SHIPPING

m.v. “MOGRAL” V - 0079

The above vessel is arriving at MUNDRA PORT on 28-02-2024 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.

Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

ZIM INTEGRATED SHIPPING SERVICES (INDIA) PVT. LTD.

First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201

Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433

Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com

Mr. Vijay Anand - 9824504315 Email : anand.vijay@zim.com

Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com

The above vessel has arrived on 23-02-2024 at MUNDRA PORT with Import cargo from ABU DHABI, HAMBURG, AD DAMMAM, JUBAIL.

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

MUNDRA

Consignees are requested to kindly note that the above item Nos. are for the B/L Nos.arrived for Mundra Delivery. Separate IGM will be lodged with Kandla Customs for CFS - Gandhidham. Consignees are requested to collect Delivery Order for all imports delivered at Mundra from our Import Documentation Deptt. at Siddhi Vinayak Complex, 2nd Floor, Off. No.201-208, Opp. Reliance Petrol Pump, Nr. Rotary Circle, on Presentation of duly discharged Original Bills of Lading and payment of relevant charges. The container detention charges will be applicable after 5 days from the GLD for containers meant for delivery at Mundra. The containers meant for movement by ROAD to inland destinations will be despatched upon receipt of required documents from consignees/receivers and the consignees will be liable for paymeant of port storage charges in case of delay in submission of these Documents. Our Surveyors are M/s. Master Marine Services Pvt. Ltd. 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.

- Charges enquiry on land line - 619100

- IGM No./Item

Red Sea crisis: Indian traders on edge as exports worth $64 billion at risk, says FIEO survey

N E W D E L H I : Indian exports have so far braved the Red Sea crisis with outbound shipments registering a 3 1 percent rise in January, offering consolation that the country may escape the worst of the ongoing tensions at sea, but traders remain on the edge.

A survey by the Federation of Indian Export Organisations (FIEO), shows that Indian exports worth $64 billion could be impacted due to the Suez Canal crisis across a range of sectors, including plastic, rice and garments.

According to the FIEO analysis, around 14 percent of India’s total merchandise exports of $447 46 billion, as per FY23-levels, are suffering.

Since the outbreak of the IsraelHamas war in October, the Red Sea has been in the news for periodic attacks by Houthi rebels of Yemen on commercial vessels passing through the Suez Canal, a crucial choke point for global maritime commerce.

For April 2023-January 2024, India’s goods exports stood at $353.92 billion, down nearly 5 percent from the first 10 months of 2022-23. The Red Sea strait is crucial for 30 percent of global container traffic and 12 percent of global trade.

Red ags

The FIEO survey of 170 exporters from across India reveals that the impact of the ongoing crisis is widespread Some of the key merchandise exports that have been adversely affected include sesame oil, rice, coffee, coconuts, frozen buffalo meat, spices, pharmaceuticals, textiles and garments, leather f o o t w e a r a n d a c c e s s o r i e s , engineering goods and plastic packaging items.

The survey showed that the maritime tensions have impacted the flow of Indian goods to countries and blocs such as the UK, the USA, Europe, the Middle East and Africa, among others.

India uses the Red Sea route through the Suez Canal to trade with Europe, North America, North Africa and parts of the Middle East

According to Crisil Ratings, these regions accounted for around 50 percent of the South Asian nation’s exports worth Rs 18 lakh crore and a b o u t 3 0 p e r c e n t o f i m p o r t s amounting to Rs 17 lakh crore last fiscal.

Given that about 30-35 percent of the production of agricultural

commodities like Basmati rice is shipped to these regions, exporters are feeling the pressure as rising freight costs have curbed outbound shipments and a part of their inventory is now being sold in the domestic market, leading to a moderation in realisations, Crisil said in a note on January 25.

“The worst affected are certain food items or agricultural produce since it cannot survive the impact of being at sea for a longer duration,” an official from a trade advisory body said

This person added that the full impact of the Red Sea crisis is likely to be more visible in India’s export figures February onwards.

Uneven impact

However, some sectors are likely to remain unaffected by the delays and disruptions in the Red Sea.

While Basmati rice, grapes and leather exports are expected to be majorly impacted, India’s steel sector, wherein most of the demand is met through domestic supply, is likely to be unfazed.

“In the steel sector, which accounts for the largest pie in the metals sector, 95 percent of the demand is met through domestic supply. Hence, the Red Sea crisis will not have a major impact. Neither will there be much of an impact on the trade front since most imports are from East Asia,” Crisil said in its February 2024 research note.

Unlike FIEO, Crisil sees minimal impact on India’s textiles industry in the near term with about threefourths of the sector oriented towards the domestic market and the crucial festive season behind us.

Another trade body that primarily represents small and medium exporters expects a relatively moderate impact versus FIEO as it sees outbound shipments amounting to $25 billion getting affected due to the disruptions and delays with freight companies taking the longer route around Africa to reach the west, or waiting at nearby ports for safe passage through the Suez Canal.

Even India’s tea sector remained resilient with exports rising 6 92 percent, a three-month high, to $64.90 million in January 2024 despite the Red Sea crisis.

PK Bhattacharjee, Secretary General, Tea Association of India, says this is largely due to the government’s intervention, which led to banks providing maximum credit limits and Export Credit Guarantee

insurance premium rates unchanged despite the spike in shipping costs.

Cost crisis

An unanimous impact of the Houthi attacks has been the rise in overall shipping costs.

Rerouting around the Cape of Good Hope due to the Red Sea crisis is delaying shipments by two to four weeks, which is extending delivery window dates and affecting cash flow

In its survey, FIEO revealed that cotton yarn exporters are facing a 50600 percent increase in costs for their shipments to Bangladesh, Europe, and Egypt.

The Drewry World Container Index, which serves as a composite measure of container freight rates, reached $3,786 per 40-foot container in the week up to February 8, up 90 percent when compared with the same week last year, and 167 percent more than average 2019 (prepandemic) rates of $1,420.

Soaring freight and elongated transit times are trapping working capital, thereby increasing the demand for more resources when it comes to storage or inventory. The extended cycle, with higher costs and interest outlays, may ultimately reduce demand,” FIEO noted in the survey

For Indian exporters, the threat of order cancellations looms large.

“My company Ceekey Global Trading in Calicut was regularly supplying Basmati rice to a buyer in Glasgow at a normal freight of $1,4001,600 from Mumbai to Felixstowe in the UK Today the current ocean freight on the route is nearly $3,1003,200. The buyer cancelled this order since he cannot afford the cost,” Munshid Ali, Secretary, Kerala Exporters’ Forum, said.

As attacks on vessels traversing through the Red Sea, which began mid-November 2023, continue, exporters in India fear a prolonged crisis that runs the risk of escalating. ‘Give more support’

Given these concerns, there have been demands from the government to go beyond what has been offered so far in helping exporters manage o p e r a t i o n a l c o s t s , i n c l u d i n g , subsidies and low-interest loans as India faces comparatively higher interest costs than China.

Bhattacharya articulates this fear well.

“Despite the tremendous support from the government, tea exporters are frightened, if the Red Sea crisis, that is Houthi attacks, continues, the situation could worsen,” he said.

NOTICE TO CONSIGNEES

LALA LALA LAURELNURELN URELNURELN UREL NAA AA AVIGAVIGA VIGAVIGA VIGATIONTION TIONTION TION

m.v. “ZOI” V - 112E

The above vessel is arriving at MUNDRA PORT on 03-03-2024 with Import Cargo in containers.

GOSUHCM80380880 —1

GOSUXNG1831184 1—

GOSUNGB1191542 —1

GOSUSNH1839162 —1

GOSUHCM80380344 —1

GOSUSNH20987410 1—

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GOSUYIW821494 —1

GOSUSNH1525302 1—

GOSUSNH1525303 —1

GOSUSHH31170136 1—

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GOSUYIW821518 —1

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GOSUSNH20987535 1—

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GOSUNGB20167345 1—

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GOSUNGB9955918 —2

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GOSUSNH20987544 —2

GOSUSNH8423233 2—

GOSUYIW821471 —1

GOSUYIW821491 —1

GOSUNGB1190386 —1

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GOSUGZH0365556 1—

GOSUGZH0365308 2—

GOSUNGB9955924 1—

GOSUSHH31175199 2—

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GOSUNGB20088907 —2

GOSUSNH1738931 1—

GOSUSNH1738933 1—

GOSUBKK80315536 1—

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GOSUSNH1839723 1—

GOSULOS23000838 6—

GOSUNGB1198534 —1

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GOSUSNH20987486

GOSUSNH20987579

GOSUNGB1191662

GOSUSNH20987340

GOSUSNH20987562

GOSUGZH0367042

GOSUBKK80316361

GOSUSNH20987575

GOSUBKK80315530

GOSUNGB1198541 —1

GOSUGZH0366441

GOSUXNG1831158 8—

GOSUSNH1839437 —1

GOSUSNH1839479 1—

GOSUXNG1820122 1 14

GOSUSHH31166001 —1

GOSUSNH1839678 1—

GOSUYIW821486 —2

GOSUNGB1191575 —1

GOSUNGB20167365 —1

GOSUSNH20987413 1—

GOSUNGB20088930 —1

GOSUNGB1198559 —1

GOSUNGB1198560 —1

GOSUNGB1198561 —1

GOSUYIW821477 —1

GOSUSNH20987487 1—

GOSUSHH31170720 1—

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GOSUJKT8100424 —1

India’s First Gati Shakti Research Chair established at IIM Shillong; Also signs MoU with MoPSW

Union Minister Shri Sarbananda Sonowal aends MoU signing ceremony between Ministry of Ports, Shipping

SHILLONG: The Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush, Shri Sarbananda Sonowal attended the Memorandum of Understanding (MoU) signing ceremony between the MoPSW and the Indian Institute of Management (IIM) to set up India’s first ‘Gati Shakti Research Chair’ here.

The Chair will spearhead high-quality academic research on multimodal logistics with a North-East focus: building knowledge on multimodal logistics development strategies and practice in the North-Eastern region, facilitate knowledge and innovation for logistical capacity building in the region. The chair also aims to foster collaboration with global experts in creating and developing knowledge & expertise while strengthening the links between the multimodal logistics research and capacity-building activities with key stakeholders such as the logistics industry, Government bodies, local authorities, and other partners and associations. The chair will also support the multimodal logistics research activities, capacity building and outputs to enable PM Gati Shakti Masterplan to power the East and North-East Region’s logistical capacity

Speaking on the occasion, Shri Sonowal said, “Today, I feel fortunate to be amongst all my young friends from the prestigious IIM. The aura of Yuva Shakti has energised our resolve to continuously move towards achieving the goal of a Viksit Bharat by the end of Amrit Kaal. The ensuing 25 years are your Kartavya Kaal to continue on the empowerment led development of India. With the establishment of this chair at your prestigious institute, the Northeast is poised to take lead in the research & development of multimodal logistics activities, capacity building and outputs. Students fraternity

& Waterways and IIM, Shillong

will now have an opportunity to hone their skills and build their careers in the field of logistics.”

A Strategic Round Table was also organised to discuss the multimodal logistics development strategy for connecting the North Eastern Region (NER) to the wider national and international regions to strengthen the local economy at the Dr APJ Abdul Kalam Centre for Policy Research and Analysis Indian Institute of Management (IIM), Shillong. The meet attempted at strategising for the development of a collective NER logistics Policy in line with the National Logistic Mission as well as steps for the operationalisation and implementation of the policies related to multimodal logistics in the NER.

Speaking on the scope for logistics sector in the Northeast, the Minister said, “Under Narendra Modi ji, the Northeast region has experienced unprecedented growth and development with sustained peace. The region witnessed revolutionary infrastructural advancements, development in digital connectivity, prolific economic growth, and several other significant accomplishments. The Narendra Modi government has invested over 14 lakh crores in infrastructure development and connectivity of the North east. Only through this commitment and intensive efforts has India’s northeast become front and Centre of New India’s growth story The newly inaugurated Gati Shakti Chair will act as a catalyst to realise the full potential to emerge as a vital logistics hub connecting South Asia with South-East and East Asia.”

Adding further, Shri Sonowal said, “Under the visionary leadership of Prime Minister Shri Narendra Modi, the inertia in the logistics industry, plagued by indecisiveness of previous government, got an overhaul as focussed approach was conceived and implemented to bring speed, efficiency and build economies of scale in logistics sector. Since 2014, a new Logistics Division was created, PM Gati Shakti National Master Plan for Multi-Modal connectivity was launched, a National Logistic Policy was announced, and a Unified Logistics Interface Platform was designed Under Modi ji, the central government’s annual capital expenditure on infrastructure projects such as roads, ports, railways, and airports has grown from less than Rs. 2 lakh crore to more than Rs. 11 lakh crore.Cargo handling capacity at our Ports has doubled, and two new mega green field Ports are in the pipeline With the mission of ‘Transformation via Transportation’, we are on a steady course to ranking in the top 25 in the Logistics Performance Index in the next five years ”

India does not rush into trade negotiations, follows careful and calibrated approach: Piyush Goyal

NEW DELHI: Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal said that the Government does not rush to conclude trade negotiations because Free Trade Agreements (FTAs) impact the country for several years and follows a careful and calibrated approach. During an interaction at the Raisina Dialogue 2024, the Minister said that extensive stakeholder consultations, inter-ministerial meetings, etc. are conducted during FTA negotiations to ensure that FTAs are fair, equitable and balanced.

For the upcoming WTO Ministerial Conference 13 (MC13) to be held this week in Abu Dhabi, UAE, Shri Goyal said that there are attempts to include issues in the WTO that are not part of world trade and India will try to ensure that the guiding principles of WTO are maintained. The Minister highlighted India’s role in the past at the WTO MCs and expressed strong support for making the organisation stronger with the necessary reforms. Shri Goyal said that WTO is important for a fair and robust multilateral trading system.

On the Carbon Border Adjustment Mechanism (CBAM) issue, Shri Goyal said that India is concerned by the tax imposition of the European Union (EU) and will take up the issue within the rules of World Trade Organisation (WTO) and will also look to address the issue bilaterally with the EU. Further, the Minister assured the stakeholders that the Government is conscious of the challenges and will work towards turning this challenge into an opportunity

Shri Goyal said that the Government under the leadership of the Prime Minister, Shri Narendra Modi has undertaken initiatives for food security, healthcare, education, housing, infrastructure, etc for public welfare

The Minister cited multiple initiatives like Make in India, Startup India, Digital India, Production-Linked Incentive (PLI) schemes, etc. that have transformed India into the fastest developing large economy He noted that these initiatives encourage private and public investment in infrastructure and manufacturing which will help India become a developed economy by 2047

Cont’d. from Pg. 22

LALA LALA LAURELNURELN URELNURELN UREL NAA AA AVIGAVIGA VIGAVIGA VIGATIONTION

m.v. “ZOI” V - 112E

The above vessel is arriving at MUNDRA PORT on 03-03-2024 with Import Cargo in containers.

GOSUSNH20987581 —1

GOSUSNH1839417 —1

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GOSUNGB20167381 —1

—1

GOSUYIW821502 —1

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GOSUSNH20987536 —3

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LNLUPKL8129476 26

LNLUPKL8129757 1— LNLUPKL8129493 —1

Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.

Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

STAR SHIPPING SERVICES (INDIA) PVT. LTD.

First Floor, Plot No.86, Sector 1A, Near Quality Enterprises Hero Showroom, Gandhidham - Kutch, Gujarat - 370201

Tel: (0091-2836) 229543 235282 235283 235383, Fax: (0091-2836) 230433

Export Marketing Queries: Mr. Parmar Devendra - 9824413365, E-mail: parmar.devendra@zim.com

Mr. Vijay Anand - 9824504315 Email : anand.vijay@zim.com

Import Marketing Queries : Mr. Mitesh Rajgor - 02836-235282,229543 E-mail: imp@starship-knd.zim.com

NOTICE

HAMBURG” V - 148E

The above vessel is arriving at PIPAVAV PORT on 28-02-2024 with Import Cargo in containers.

GOSUSHH31152871 1—

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GOSUSNH20947975 1—

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1—

GOSUSNH8455754 1—

GOSUSNH8455765 —1

GOSUSNH8462556 1—

GOSUXIA8361284 —2

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GOSUXIA8363604 6—

GOSUXIA8363620 1—

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Consignees are requested to obtain DELIVERY ORDERS from our office address given below on presentation of ORIGINAL BILLS OF LADING, duly discharged and on payment of applicable charges.

Consignees are requested to note that the carrier and or agents are not bound to send further individual notification regarding the arrival of the cargo vessel or their goods.

As Agents :

Cont’d from Pg. 4

SeaLead Launches FIX2 Service to boost Trade Links between China and India

The FIX2 ser vice will commence with the MV Baltrum sailing from Ningbo on 2nd March 2024 and will deploy a fleet of five vessels.

F I X 2 w i l l c o n n e c t k e y p o r t s i n C h i n a (Ningbo, Xiamen, Shekou) to Mundra, and call Port Klang eastbound, before making its return voyage to Ningbo.

This initiative is a direct response to the surging demand for more direct and effective shipping services, aiming to strengthen trade connections and spur economic expansion between China and India. FIX2 also enhances SeaLead's ability to use Mundra as a hub on the westbound leg and offer connections to South Asia, Middle East, Red Sea, Africa and the Mediterranean. The call at Port Klang will also offer the ability to offer connections to other South East Asia destinations.

Mr SC Chan, Acting Head of SeaLead, stated, “With the introduction of the FIX2 ser vice, we're enhancing our service offerings to meet customer needs. The service is tailored to improve trade between China and India, supporting the economic growth of these areas. Our focus is on delivering solutions that are attuned to the commercial realities our customers face, fostering better connectivity and streamlined operations for their businesses.”

With trade between India and China reaching a new high of $136.2 billion in 2023, the FIX2 service gains importance with its goal to provide better connectivity between the two nations. With India’s projected economic growth at 7.3% in 2023-24, the service becomes even more crucial.

Mr. Shiva Mahadevan, Managing Director for South Asia and the Middle East at SeaLead, commented, “As trade between India and China reaches new heights, the launch of FIX2 signifies our commitment to facilitating not only growth but also fostering a more interconnected global economy This service is a testament to our dedication towards enhancing the efficiency and reach of maritime trade routes, ensuring that our clients have access to the most direct and robust shipping solutions available.”

The FIX2 service targets the West Coast of India, while the FIX1 service provides direct routes from China to India's East Coast, offer comprehensive benefits to customers These ser vices ensure seamless connectivity across India's vast market, enhancing trade efficiency, reducing transit times, and facilitating access to key markets.