Category Archives: Shipping

Adani Port & Special Economic Zones (APSEZ) has ranked 14th in the global transportation and transportation infrastructure sector and is the only company from India to have been included in this sector. This initiates the presence of APSEZ on the DJSI Emerging Markets Index, one of the most sought-after sustainability indices in the world that represents the top 10 per cent of the largest 800 companies within the world’s 20 emerging markets and is based on long-term Environment, Social and Economic, and Governance criteria. As part of a stringent DJSI rating process all responses by APSEZ were substantiated with internal documentation and real-life examples and audited by an independent third party to verify the accuracy of the information provided. APSEZ was ranked in the top 20 of every single dimension of the three criteria. In all, just 11 Indian companies made it to the DJSI Emerging Markets Index this year. Karan Adani, Chief Executive Officer and Whole Time Director, APSEZ comments “We are pleased to make an entry into the DJSI Index. As the largest multi-port operator and logistics player in one of the fastest growing markets in the world we recognize the complexity that we are confronted with and therefore being able to achieve this high ranking on our debut into the DJSI Index comes as a shot in the arm for us as well as validates our accountability to our investors, customers, and employees. While our Environment, Social and Economic, and Governance criteria scores are a strong validation that we are on the right path, we really see this as just one point along a more ambitious journey we have embarked on to demonstrate our absolute commitment to …

Jebel Ali Free Zone (Jafza), DP World and Etihad Credit Insurance has showcased innovative trade credit and export financing solutions in a joint webinar. During a well-attended webinar titled, ‘Etihad Credit Insurance Collaboration: Trade with Protection’, Jafza-based companies were given a walk-through of ECI’s solutions as part of the Free Zone’s drive to ensure the growth of businesses, while lowering the cost of export, by reducing the risk of non-payments, and funding, by lowering banking pre and post-shipment funding in the current unprecedented economic climate Jafza has introduced ECI’s tailored solutions to support UAE-based businesses and increase trade by providing them with protection against commercial and non-commercial risks. More than 8,000 companies in the free zone are set to directly benefit from the strategic collaboration of Jafza and ECI, giving export businesses a major boost and a competitive edge in the regional and global markets. Jafza believes that Etihad Credit Insurance’s range of export credit, financing and investment insurance products will directly benefit Jafza’s customers, particularly the SMEs. The partnership will be a game-changer for the export of goods and services because ECI’s support increases cash flow, enables trade and contributes towards sustaining growth even as the markets recover. The shared objectives of ECI and Jafza represent the vision of the leadership to establish the UAE as a preferred global hub for exports. The Free Zone is working closely with ECI to take this partnership forward and reinforce their commitment to business continuity with confidence. In addition, ECI has issued more than 1,600 revolving credit guarantees for a total exposure amount of AED1.2 billion in the first half of 2020, which is equivalent to AED4 billion guaranteed non-oil trade coverage. …

APM Terminals Pipavav has announced that the port has reduced terminal handling charges for empty containers by a quarter to help the exporters, facing container shortage for overseas shipments. The charges have been revised downward from November 16 and will remain in effect till December 31, 2020. The move is aimed at supporting exporters in getting easy access to empty containers and reducing the waiting period. APM Terminals Pipavav is taking efforts to facilitate trade and help in reviving the economy amid a considerable imbalance in trade due to severe shortage of containers for exporters. “The Port has reduced the terminal handling charges for empty containers by 25 per cent to enable the exporters who are adversely impacted by the shortage of empty containers due to significant fall in imports,” APM Pipavav Terminals said. The reduction for handling charges on the tariff is effective for vessels sailing from November 16 to December 31. “Looking at the trade cycle adversely affected by the shortage of containers, we decided to assist the trade through a reduction in handling charges of empty containers. I hope this will support exporters in getting easy access to empty containers and reduce the waiting period, thereby addressing the critical issue of container shortage,” said Jakob Friis Sorensen, Managing Director, APM Terminals Pipavav. India’s exports during April-October period of the current financial year fell 19 per cent to US$ 150.14 billion, while imports declined 36.3 per cent to US$ 182.29 billion, citing data from the Ministry of Commerce and Industry. The country is facing a shortage of containers for exports as the containers that come in as imports are shipped out for exports, APM Pipavav Terminals said, adding …

Boxco Logistics along with Allcargo Logistics has successfully executed the first shipment of the IOCL MEG Project at Paradip for L&T Hydrocarbon Engineering (LTHE) who were the EPC contractors for IOCL. The shipment had nine heavy lift packages which were received safely on Boxco’s self-propelled modular trailers. The dimensions of the packages meant that certain modifications were required to be made to PICT which was carried out by Boxco. In addition, other civil modifications were also carried out enroute to the IOCL Site. The major challenge in transporting these packages was the route which passed through a live refinery road, which, was not strong enough for handling packages of this size. Boxco conducted a number of surveys and meetings with IOCL and LTHE personnel with the intention of finding a solution wherein the modification en route had to be minimised and the refinery also continued functioning without any shutdowns. There was another challenge for modification in the port itself for taking out these packages, we convinced the customs and took the permission for breaking the port wall and also made the slope to match the level difference between the port road inside the terminal and outside the road. Boxco made almost 27 major modifications en route to deliver this cargo. Boxco Logistics added this to a long list of complicated movements done in Paradip over the past 20 years. This contract also further strengthened the position of PICT as the terminal in Paradip for heavy lifts and over dimensional cargo the terminal has a strategic advantage because of its location. The state-of-the-art infrastructure makes it a terminal of choice for this type of cargo. The second shipment of this project …

Shankar Shinde, Chairman Elect, Federation of Freight Forwarders Associations in India (FFFAI) has been elected unanimously as Managing Director of the International Federation of Customs Brokers Association (IFCBA). IFCBA enjoys the status of Private Sector Consultative Group (PSCG) representation on World Customs Organisation (WCO).The election of Shinde in IFCBA’s crucial position once again underscores the growing importance of FFFAI and India at large in the international Logistics & Customs Brokers business. Having more than 30 years of experience in Logistics and Customs Broking industry Shinde is very well-known for his huge contribution to the entire industry. Apart from FFFAI and IFCBA, he has also been associated with various industry associations including Nashik Customs House Agents Association as President, International Federation of Freight Forwarders Associations (FIATA) as FFFAI nominated representative, Brihanmumbai Customs Brokers Association, Maharashtra Chamber of Commerce & Agriculture, etc. In addition, from FFFAI Shinde is spearheading the International North South Transport Corridor (INSTC) project collaborating with the Government of India. “The international trade community depends on the work done by Customs Brokers and IFCBA serves Customs Brokers by keeping them at the centre of the international trading system. It is IFCBA’s mission to promote the value and use of Customs Brokers worldwide,” emphasized Shinde while commenting on the importance of IFCBA. IFCBA works to bring about improvements in Customs policies and best practices on a global basis. These improvements benefit both Customs and Customs Brokers for achieving transparency in trade facilitation measures, brainstorming towards innovation for recommendation of seamless cross border customs processes and standardization with use of technology in achieving paperless transaction.

h an aim to help its customers to lighten their environmental footprint and make their cargo carbon neutral, the CMA CGM Group has announced that the group is launching ACT with CMA CGM+, an array of solutions. Available throughout all the Group’s shipping subsidiaries, this new offering consists of four services, enabling its customers to analyse their environmental footprint, use cleaner alternative energy sources and to offset the emissions generated during the transport of their goods. Cleaner Energy LNG and Cleaner Energy Biofuel: Two solutions delivering reductions in environmental footprint CMA CGM made the groundbreaking decision to power 26 of its containerships using liquefied natural gas by 2022, and seven of these are already in service. Thanks to the CLEANER ENERGY LNG offering, customers will be able to choose to transport their goods using LNG, a novel technology that helps to preserve air quality by eliminating almost all atmospheric pollutants. Through its greater energy efficiency and the use of renewable biomethane sources, this offering also delivers a significant reduction in greenhouse gas emissions. CMA CGM was also the first shipping group to successfully use biofuel on its containerships. Thanks to the CLEANER ENERGY BIOFUEL offering, the Group’s customers will be able to opt for a transport solution for their goods using biofuel generated from used cooking oil. These alternative fuel-based solutions can unlock reductions in greenhouse gas emissions of between 15% and 85%, providing CMA CGM’s customers with a wide range of solutions to decarbonize their cargo. Eco Monitor and Positive Offset: Two solutions for analysing and offsetting environmental footprints With Eco Monitor, the CMA CGM Group’s customers will be able to keep track of their environmental footprint in real …

The Central Board of Indirect Tax and Customs (CBIC) has notified revised policy and guidelines for setting up of Container Freight Stations (CFS), Inland Container Deport (ICD) and Airfreight Stations (AFS). The revised policy aims to boost investment in CFS/ICD sector in underdeveloped regions in India, while the approvals in regions where already high concentration is there will be discouraged except in exceptional cases. Commenting on the policy, K Ravichandran, Senior Vice President and Group Head, Corporate Ratings, ICRA, says, “The new policy considers the issues faced by the sector; including regional disparities in concentration of facilities, with high concentration of CFS in Western and Southern regions and the adverse impact of new initiatives like Direct Port Delivery (DPD)/ Direct Port Delivery (DPE) on the CFS sector. While, the impact on volumes due to DPD implementation has stabilised to some extent, the margins have witnessed pressure and with growing investments in warehousing space, only CFS players with larger logistics offerings allowing them to re position their services will be able to continue in the long term. Hence, the zoning and distance rules in the revised policy will aid in more balanced development in the sector and prevent concentration of facilities which will improve the viability of existing/upcoming facilities by reducing competitive pressure.” ICRA notes that the revised policy has factored the developments in the sector in the last two decades, including the growth in volumes during this period; geographical concentration of CFS/ICD; implementation of schemes like DPD/DPE and other automation and efficiency improvement measures; and also, the infrastructure developments like Direct Freight Corridor and inland waterways.

The 10th Asian Logistics, Maritime and Aviation Conference (ALMAC), an annual signature event for the industries jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), opened today, running online for the first time in light of the pandemic. “The year 2020 has been a landmark year in many aspects, perhaps the most challenging year we have faced in our lifetime,” says, Xerrxes Master, Vice President, Association of Multimodal Transport Operators of India. Explaining the nature of Indian logistics industry, he continues, “The size of the Indian logistics industry is US$250 billion; it’s a highly fragmented industry with hardly 10-15 per cent owning by organised players. So, one can imagine the magnitude and sheer scale of industry and what it is really capable of. However, slow but steady the progress has been made at every step. Indian government, in the last five to 10 years, has really supported multi-modalism; one of the prime examples is the development of inland waterways and the coastline which has been neglected all these years and which has really not being used to its full potential. It is estimated that 14500 kms length of rivers are navigable throughout the year. The Inland Water Authority of India (IWAI) has declared five national waterways covering a total of 4,434 kms of inland waterways covering routes on river Ganga , river Brahmaputra , back waters of Kerala, Krishna and Godavari river system along with the Buckingham Canal and Brahmani Mahanadi river system along with East Coast Canal. In 2016 the government of India declared 106 navigable rivers as National Waterways also. India and Bangladesh have agreed upon …

APM Terminals Pipavav (Gujarat Pipavav Port) has reported 23 per cent decline in net profit at Rs 520 million for the second quarter ended September 30, 2020. The company had reported consolidated net profit of Rs 671 million for the corresponding quarter of last year. Revenues for the second quarter stood at Rs 1,827 million as against Rs 1,992 million, lower by 8 per cent. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) fell to Rs. 1,029 million as compared to Rs. 1,267 million in Q2FY20. EBITDA margin stood at 56 per cent in Q2FY21 as against 64 per cent in Q2FY20; while net profit margin was at 28 per cent during July-September quarter as compared to 34 per cent in Q2FY20. For the first half-year ended September 30, 2020, the revenues stood at Rs 3,416 million, lower by 9 per cent compared to first half of FY20. EBIDTA and net profit declined by 13 per cent and 20 per cent respectively to Rs. 1,984 million and Rs. 984 million. The quarter gone by has marked positive signs for the port as the Board of the Company approved investment of Rs 700 crore for the expansion plan. The stated investment will be utilized for upgrading the port’s existing facility to handle bigger ships and eventually expand the container capacity to 1.6 million TEUs.

The CMA CGM Group has embarked on a major program to build a new class of liquefied natural gas-powered vessels, as part of its drive to take the shipping industry’s energy transition to the next level. The CMA CGM JACQUES SAADE has begun its first LNG bunkering operation in Rotterdam. The Port of Rotterdam will play a key role in refueling the Group’s LNG-powered fleet, which operates regular services between Asia and Europe. In November 2017, Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, made the visionary decision to order nine 23,000 TEUs (Twenty-foot Equivalent Units) with an LNG power supply, a first in the history of the shipping industry for vessels of this size. This fleet is the product of seven years of research and development efforts. It will operate on the Group’s iconic French Asia Line (FAL 1) connecting Asia with Europe. The line provides a weekly service comprising 13 calls over 84 days. These nine vessels will be registered on the International French Register (RIF). Following this record order for nine 23,000 TEU containerships, including the CMA CGM JACQUES SAADE and the recently delivered CMA CGM CHAMPS ELYSEES, the CMA CGM Group now operates seven LNG-powered containerships and will have a fleet of 26 containerships of various sizes by 2022. LNG is currently the state-of-the-art industry solution for preserving air quality. It delivers a reduction of 99% in sulfur dioxide and fine particle emissions and of 85% in nitrogen oxide emissions, surpassing the requirements of current regulations. LNG also provides an initial response to the challenge of tackling climate change. An LNG-powered vessel also emits up to 20% less CO2 than fuel-powered systems. This technology …