Port Wings Maritime Exim Weekly 24 March 2021 e-paper

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Mar. 24th - 30th, 2021 Issue

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Published from Chennai and Circulated among the trade across the country RNI TNENG/2014/59741

Wednesday, March 24, 2021

8 Pages

Nitin Gadkari Releases Details of Proposed “Vehicle Scrapping Policy” in Parliament New Delhi Port Wings News Network he Minister for Road Transport & Highways, Shri Nitin Gadkari made a Suo Moto Statement in the Parliament on proposed “Vehicle Scrapping Policy” on 18 March.

The statement is as given below--India has 51 lakh Light Motor Vehicles which are older than 20 years and 34 lakh Light Motor Vehicles which are older than 15 years. Around 17 lakh Medium and Heavy Commercial Vehicles are older than 15 years without valid fitness certificate. Older vehicles pollute the environment 10 to 12 times more than fit vehicles and pose a risk to road safety.

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In the interest of a clean environment and rider and pedestrian safety, the Ministry of Road Transport and Highways is introducing the Voluntary VehicleFleet Modernization Program or “Vehicle Scrapping Policy” which is aimed at creating an Eco-System for

phasing out of Unfit and Polluting Vehicles.

The objectives of the policy are to reduce population of old and defective vehicles, achieve reduction in vehicular air pollutants to fulfil India’s climate commitments, improve road and vehicular safety, achieve better fuel efficiency, formalize the currently informal vehicle scrapping industry and boost availability of lowcost raw materials for automotive, steel and electronics industry.

The ecosystem is expected to attract additional investments of around Rs. 10,000 Crore and 35,000 job opportunities. The ministry shall in the next few weeks publish draft notifications, which File Photo shall be in the public domain for a period of 30 days to solicit comments and views of all involved stakeholders.

The criteria for a vehicle to be scrapped is primarily based on the fitness of vehicles through Automated Fitness Centres in case of commercial vehicles and NonRenewal of Registration in case of private vehicles. The criteria has been adapted from international best practices after a comparative study of standards from various countries like Germany, UK, USA

and Japan. A Vehicle failing the fitness test or failing to get a renewal of its registration certificate may be declared as End of Life Vehicle.

Criteria to determine vehicle fitness will be primarily emission tests, braking, safety equipment among many other tests which are as per the Central Motor Vehicle Rules, 1989.

It is proposed that commercial vehicles be de-registered after 15 years in case of failure to get the fitness certificate. As a disincentive measure, increased fees for fitness certificate and fitness test may be applicable for commercial vehicles 15 year onwards from the date of initial registration.

It is proposed that Private Vehicles be de-registered after 20 years if found unfit or in case of a failure to renew registration certificate. As a disincentive measure, increased reregistration fees will be applicable for private vehicles 15 year onwards from the date of initial registration.

It is being proposed that all vehicles of the Central Government, State Government, Municipal Corporation, Panchayats, State Transport Undertakings, Public Sector Undertakings and autonomous bodies with the Union and State Governments may be deregistered and scrapped after 15 years from the date of registration.

The scheme shall provide strong incentives to owners of old vehicles to scrap old and unfit vehicles through registered scrapping centres, which shall provide the owners with a scrapping certificate.

Contd. on page -2

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Wing 7 Feather 32

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Centre Fixes 2021-22 Import Quota for Tur, Moong Chennai

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Port Wings News Network he Centre has permitted imports of 4 lakh tonnes of tur and 1.5 lakh tonnes of moong for the financial year 2021-22, to meet the shortfall in domestic supplies, according to a news report in BusinessLine. In its latest notification, the Ministry of Commerce and Industry has also allowed traders to import these pulses along with the millers and refiners.

“Import shall be allowed to the Millers/ Refiners/ Traders and will be allocated equally to predetermined numbers of applicant through an algorithm based lottery system, as per procedure to be notified by DGFT,” the notification said.

Besides, the Centre has extended the date for the import of 1.5 lakh tonnes of urad for the current financial year from March 31 to April 30, based on the trade request considering the difficulty in importing from Myanmar, where the prevailing political situation has disrupted the supply chain. For the year2021-22, the Centre had recently announced urad import quota of 4 lakh tonnes.

‘Stock up’ fears While the traders are happy about the Centre’s latest move, the dal millers have opposed it. Millers fear that traders would import pulses and stock them to take advantage of

FumiGATiON SeRViCeS pVT LTD.,

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the market situation as the domestic production, impacted by erratic weather pattern, is seen lower this year resulting in a firming trend in prices of urad and tur in recent months. Prices of almost all pulses are ruling firm on improving demand and supply constraints.

“The government’s decision to allow traders to import pulses is not fair and we oppose it,” said Suresh Agarwal, Chairman, All India Dal Mills Association. “Traders import and stock, whereas millers import, process File Photo and sell them. There is a wide d i ff e r e n c e between the way each of them operate.”

T h e I n d i a n Pulses and G r a i n s Association (IPGA), however, has welcomed the government’s move.

Jitu Bheda, chairman, IPGA, in a statement said that the association’s recent suggestion of allocating quota equally to a pre-determined number of applicants through an algorithm based Lottery System has also been approved.

“This will not only control the rising prices but also improve the overall sentiments giving a major boost to the trade. Total imports of 5.5 lakh tonnes will be sufficient for the current situation. This will be over and above the tur import of 2 lakh tonnes from Mozambique as per the MoU between the two governments. Total tur imports would be 6 lakh tonnes,” Bheda added.

Total pulses imports are expected to be over 1.15 million tonnes during 2021-22. According to the Agriculture Minstry’s second advance estimates, pulses production is seen at 24.42 million tonnes for 2020-21 crop year, higher than previous year’s 23.03 million tonnes.

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Inside Panama Calls For IMO To Mediate... Pg-2 GRSE Built Indigenous Warship... Pg-3 MSME Minister Pratap Chandra... Pg-4 How Can Shipping Rates Fall... Pg-5 Vessel Position at Terminals and Ports... Pg-6 Latest Customs Exchange Rates... Pg-7 Indian Register of Shipping... Pg-7 PSA International Handled 86.6... Pg-8

RNI No. TNENG/2014/59741 Postal Registration No. TN/CNIGPO/067/2021-2023 Posted at Pathrika Channel, Egmore, RMS, Chennai-8. Date of Publication - Wednesday, Posted on Tuesday / Wednesday

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Mar. 24th - 30th, 2021 Issue

Nitin Gadkari Releases Details of...

Wednesday, March 24, 2021

Wing 7 Feather 32

Misplaced Reforms Process

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hen Finance Minister Nirmala Sitharaman said in her Budget presentation for 2021-22 that the government intends to privatise two public sector banks, without specifying which ones, it was a part of a larger thrust by the government on roping in the private sector to pick up stakes in government-owned firms in a range of sectors that were to be identified by the Niti Aayog.

The strike by hundreds of thousands of employees in the public banking sector for two days on March 15 and 16, which has disrupted services across the country, is the first major nationwide strike related to bank privatisation plans after they were announced in the Union Budget on February 1 this year.

While the immediate reason for going in for a stake sale in public sector units was the need for revenue at a time when the Covid-19 pandemic had devastated all government calculations for raising funds, it was also seen as a move to fulfil the government’s promise of ‘more governance and less government’, a slogan that the BJP put forward in its 2014 general election campaign.

For fiscal 2021-22, the government plans to raise Rs 1.75 lakh crore through disinvestment of state-owned units, where it has included two public sector banks and a general insurance firm. However, the government’s track record in disinvestment is none too rosy, having garnered only Rs 32,000 crore in 2020-21 though the target was Rs 2.1 lakh crore.

However, as expected, the privatisation move has already run up against a wall of opposition. According to media reports, 1 million bank employees, part of the United Forum of Bank Unions (UFBU) have been protesting for the past month, which has culminated in the twoday nationwide strike.

The strike on Monday and Tuesday has inconvenienced customers as banks were already shut over the weekend of March 13-14.

Except for ATMs, all other services have been affected by the strike.

Members of the UFBU reportedly include the All India Bank Employees Association, the All India Bank Officers’ Confederation, the National Confederation of Bank Employees, the All India Bank Officers’ Association and the Bank Employees Confederation of India.Reports also say that the Niti Aayog, the government think-tank, has kept all public sector banks that were part of the last round of consolidation, and the State Bank of India, the country’s largest public sector bank, out of the privatisation plan.

Effective April 1 last year, ten public sector banks were merged into four in one of the biggest-ever consolidation exercises in this sector.

The four anchor banks into which six others have been merged are Punjab National Bank, Union Bank, Canara Bank and Indian Bank, so these banks will not figure in the privatisation plan. Following the consolidation last year, there are, at present, seven large public sector banks and five smaller ones in India.

The banking staff strike comes at a time when there is much discussion on whether privatisation would be an answer to the woes of the banking sector. Last year, a working group of the Reserve Bank of India (RBI) had recommended allowing large corporate houses to work as bank promoters, after amendments are made to the Banking Regulation Act, 1949, to prevent connected lending and exposures between the banks and other financial and non-financial group entities.

The BJP Government at the Centre is seriously continuing the retrogradeSample reform measures ignoring the real menace in the banking TEXT industry i.e. mounting bad loans and the growing list of Willful defaulters. Willful default by large corporate borrowers, imposed hair-cuts through ill-conceived Insolvency and Bankruptcy Code, has resulted in heap of write offs, making dent on the balance sheet of public sector banks. This has not only affected the profitability of the banks, but has become an alibi to allege inefficiency. The hard work of dedicated bank personnel has been constrained to go in vain.

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SUBSCRIPTION

Continued from page -1 Some of these incentives include: (1) Scrap Value for the old vehicle given by the scrapping centre, which is approximately 4-6% of exshowroom price of a new vehicle.

(2) The state governments may be advised to offer a road- tax rebate of up to 25% for personal vehicles and up to 15% for commercial vehicles (3) The vehicle manufacturers are also advised for providing a discount of 5% on purchase of new vehicle against the scrapping certificate.

(4) In addition, the registration fees may also be waived for purchase of new vehicle against the scrapping certificate.

The Ministry of Road Transport and Highways will promote setting up of Registered Vehicle Scrapping Facility (RVSF) across India and will encourage public and private participation for opening up of such centres. Efforts are also being made to set up Integrated Scrapping

Facilities across India. Some of the identified places include Alang in Gujarat, where it is being planned to develop a highly specialized centre for scrapping among many other potential centres, where different scrapping technologies can be synergized together.

With a simplified registration process through single window, the scrapping facility shall have to comply with environmental and pollution norms and with all applicable acts of law. It shall be ensured that the scrapping centres have adequate parking facility, depollution equipments for air, water and sound pollution and adequate facilities for hazardous waste management and disposal.

Similarly, the Ministry shall promote setting up of Automated Fitness Centres on a PPP model by state government, privatesector, automobile companies etc These centres may have

adequate space for test-lane, IT servers, parking and free movement of vehicles. To avoid conflict of interest, operators of fitness centres shall only provide testing facility and shall not provide repair/sale of spare services. Appointment for fitness centres may be booked online and tests reports shall also be generated in an electronic mode.

Tentative timeline for application of Proposed Scrapping Policy is as follows: 1. Rules for Fitness Tests and Scrapping Centres: 01st October 2021 2. Scrapping of Government and PSU vehicles above 15 years of age: 01st April 2022 3. Mandatory Fitness Testing for Heavy Comm. Vehicles: 01st April 2023 4. Mandatory Fitness-Testing (Phased manner for other categories): 01st June 2024

Panama Calls For IMO To Mediate Crew Change For Ships Caught Off China Chennai

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Port Wings News Network ine months into the standoff between China and Australia over the importation of coal, pressure continues to mount to find a solution at least for the seafarers stuck at sea. The Republic of Panama, as the flag state for many of the stranded ships, is calling on the International Maritime Organization to get involved to mediate the dispute.

While there was a little progress in the situation permitting a few crew changes, many others continue to find themselves waiting on their ships off China’s ports. The Panama Maritime Authority estimates that as many as 74 ships and more than 1,500 crew members of various nationalities are confined to their vessels in the waters of the People’s Republic of China. These vessels are fully loaded with imported coal from Australia that China has refused to accept due to a political dispute between the two countries. Chinese authorities deny those claims citing local port controls as part of the effort to control COVID-19.

In a letter to Kitack Lim, the Secretary-General of the International Maritime Organization, Panama requests that the IMO get involved to mediate and assist seafarers and shipowners caught in this situation. Minister of Maritime Affairs, Arch. Noriel Araúz writes that the IMO’s diplomatic

powers “can help us expose before the competent authorities that due to a commercial disagreement, the human rights and well-being of the crews of these ships are being ignored.”

Panama highlights that in a commercial dispute such as this situation that “crews should not be involved, nor should their disembarkation be prevented, especially if their employment contract has expired.” They are highlighting the IMO’s resolutions in 2020 on facilitating crew changes along with the Maritime Labor Convention that prohibits denying the right of repatriation to any seafarer, due to the financial circumstances of the shipowners or the incapacity or unwillingness to replace a seafarer.

Minister Araúz also writes that it “does not depend on the flag states whether or not to allow the disembarkation of the crew when the ship is in jurisdictional waters or ports of another country.... our main objective is that the wellbeing of the seafarers be taken into consideration. As a Flag State, we trust that, when this note is in the hands of the IMO, we can find a solution to this crisis.”

It is not the first time that the IMO has been called on to intervene in this situation. Last fall, the National Union of Seafarers of India appealed for 10,000 email messages to be sent to the IMO and Chinese authorities

to highlight the humanitarian crisis.

At the time, NUSI was launching a campaign to repatriate Indian sailors who had been waiting on two vessels off China since June and August. With the intervention of the Indian government and repeated diplomatic appeals, crew changes were completed on those ships at the end of 2020. Italy also succeeded with its diplomatic mission to bring home a few Italian citizens from other ships caught in the dispute.

“So long as the trade dispute between the Australian and Chinese governments remains unresolved, bulkers will continue to languish at Chinese anchorages,” says Nick Austin, a partner in the international law firm Reed Smith’s Transportation Industry Group.

He also points to the potential for trade claims to emerge as the situation drags on. “Alongside the regrettable human cost of blocked crew changes, delays of this length could give rise to a range of disputes under the fixtures and in relation to cargo. Not the least of which will be whether owners try to recover additional sums on top of demurrage under their charterparties where the delay causes other types of loss beyond those tied to the vessel’s earning potential. Whether claims of this nature become widespread (and what precisely they cover) remains to be seen, but they can only become more likely as the clock continues to tick for vessels waiting off China.”

Hapag-Lloyd Acquires Africa Specialist NileDutch Chennai

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Port Wings News Network apag-Lloyd and NileDutch have signed a sale and purchase agreement where Hapag-Lloyd acquires all shares of the Dutch container shipping company Nile Dutch Investments B.V. (NileDutch). With over 40 years of expertise, NileDutch is one the leading providers of container services from and to West Africa.

The company is present in 85 locations across the world and has 16 own offices in the Netherlands, Belgium, France, Singapore, China, Angola, Congo and Cameroon. With 10 liner services, around 35,000

TEU of transport capacity and a container fleet of around 80,000 TEU, the company connects Europe, Asia and Latin America with West and South Africa. Headquartered in Rotterdam, NileDutch has some 350 employees worldwide with particular expertise in the African market.

“Africa is an important strategic growth market for Hapag-Lloyd. The acquisition of NileDutch strengthens our position in West Africa and will be an excellent addition to our existing activities on the continent.

Our combined customer base will benefit from a denser network from and to Africa as well as from a much

higher frequency of sailings. We welcome the new colleagues from NileDutch and hope that together we can further develop our business in Africa in the years to come,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Wim van Aalst, President of NileDutch, added: “Hapag-Lloyd and NileDutch are a very good fit and I am happy that we join forces. Combining our business and expertise in West Africa with Hapag-Lloyd´s worldwide network will enable us to make the next step and further develop the Africa business.” The completion of the transaction is subject to the approval of the responsible antitrust authorities.

Mar. 24th - 30th, 2021 Issue

GRSE Built Indigenous Warship, INLCU L58 Commissioned Port Wings News Network N LCU L-58, the 8th and the last ship under Project LCU Mark IV, delivered by the shipyard on 31 Dec 2020 was commissioned on 18 March at Port Blair in the august presence of Lieutenant General Manoj Pande, AVSM, VSM. (CINCAN – Commander-in-Chief Andaman & Nicobar Command).

The ceremony was attended by Rear

house by GRSE as per requirements specified by Indian Navy including a speed of 15 knots. LCU MKIV is an amphibious ship with its primary role being transportation and deployment of Main Battle Tanks, Armored Vehicles, troops and equipment from ship to shore.

The ships are equipped with Bow Ramps to enable loading/unloading of combat equipment and vehicles upon beaching. These are biggest & fastest Landing Craft Utility vessels

Platform Management System (IPMS).

Since its takeover by the Government of India in 1960, GRSE has delivered high end warships ranging from Fast Patrol Vessels, Survey Vessels, Landing Ship Tanks, Landing Craft Utility, Fleet Tanker to Frigates and Missile/ ASW Corvettes. The shipyard has also made significant advancement towards self-reliance in state-of-theart warship design and construction

Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSE and other senior officials of the Indian Navy and GRSE. Over the last 60 years, GRSE has delivered 788 platforms which include 107 warships, of which 70 were for the Indian Navy, 35 for the Indian Coast Guard, 01 for the Government of Mauritius and 01 for Seychelles Coast Guard which is the highest number of warships built & delivered by any shipyard in the country. The yeoman service rendered by the shipyard to enhance the maritime security of our nation is evident from the fact that the maximum number of ships protecting our maritime interests are built by GRSE. The entire design of the 08 Landing Craft Utility (LCU) Mark IV ships has been developed in-

worldwide in its category. The shipyard has once again achieved the distinction of over 90% indigenous equipment fit on these ships. These ships based at the Andaman and Nicobar Command, can be deployed for multirole activities like beaching operations, search and rescue, disaster relief operations, supply and replenishment and evacuation from distant islands. The LCU is 63 m in length and 11 m wide and has a displacement of 830 T with a low draught of 1.7 m. The LCU is designed to accommodate 216 personnel and is equipped with two Indigenous CRN 91 Guns to provide artillery fire support during landing operations. The ship is fitted with state-of-the-art equipment and advanced systems like Integrated Bridge System (IBS) and Integrated

and furthered ‘Atmanirbhar’ Abhiyaan by achieving over 90% indigenous content onboard ASW Corvettes and Landing Craft Utility ships. Having modernized its infrastructure facilities, today GRSE is in a position to construct 20 warships concurrently using Advanced Modular Integrated Shipbuilding Technology in line with the best in the world.

GRSE is currently handling construction of 16 ships as part of four ongoing projects. Three of these projects are for the Indian Navy and one is for the Republic of Guyana. The three projects of the Indian Navy include construction of 03 Advanced Stealth Frigates under the prestigious project 17 A, the Survey Vessels (Large) & ASWShallow Water Crafts.

Kolkata

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February Exports Rose Marginally Mainly on Account of Container Shortages: FIEO Chennai

Port Wings News Network esponding to February 2021 export figures, FIEO President, Mr Sharad Kumar Saraf said that the monthly exports rose marginally by 0.67 percent to USD 27.93 billion, mainly on account of container shortages across the country and limited supply disruptions in the last week of the month due to increasing Covid cases in certain states. All the major sectors of export, which during the previous month were in positive territory, continued with a similar positive growth trend during February also. Mr Saraf said that we continue to see signs of further revival not only in the order booking positions but also in the demand from across the globe, paving way for much better days and months for the sector. However, rising exports from China has led to the shortage of containers in the region as most of the empty containers are available only for exports from China, as the shipping lines and container companies are being paid hefty premiums for bringing empty containers back to China.

FIEO President added that the exports of other cereals along

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with oil meals, iron-ore, jute mfg. including Mr Sharad Kumar Saraf floor covering, FIEO President rice, cereal preparations and miscellaneous processed items, meat, dairy and poultry products, carpet, spices, drugs and pharmaceuticals, handicrafts excl. hand-made carpet, ceramic products and glassware, cotton yarn/fabrics/made-ups, handloom products etc., tobacco, plastic and linoleum, mica, coal and other ores, minerals including process and organic and inorganic chemicals showed either a very high or impressive growth or were in positive territory showing signs of further improvement.

FIEO Chief also said that negative growth in exports of major products including petroleum products, oil seeds, leather and leather manufactures, cashew, gems and jewellery, RMG of all textiles, electronic goods, fruits and vegetables, man-made yarn/fabrics/ made-ups etc, engineering goods, tea, coffee and marine products,

which have major contribution in the country’s exports basket and also related to labour-intensive sector of exports have been of key concern.

Further an increase in February 2021 imports by about 7 percent to USD 40.54 billion compared to the same period during the previous fiscal led to a trade deficit of USD 12.62 billion, which is an increase of 24.14 percent during the month.

FIEO President urges the government to soon notify the RoDTEP rates to remove uncertainty from the minds of the trade and industry thereby forging new contracts with the foreigner buyers. Mr Saraf also reiterated that the government must address some of the key issues including timely announcement of the new FTP, adequate availability of containers, release of the required funds for RoDTEP, MEIS and clarity on SEIS benefits, softening of freight charges, resolving risky exporters’ issues and continuance of seamless refund of IGST. Besides long pending demand for the creation of an Export Development Fund for marketing of Brand India products and various other infrastructure bottlenecks also needs to be looked into to bring back exports on the double-digit growth trajectory.

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MSMEs are at the front and center of government’s policy measures, says Dr. Krishnamurthy Subramanian Mumbai

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Port Wings News Network mpowering ethical wealth creation by private sector marks India’s return to its glorious past says, Dr. Krishnamurthy Subramanian “India can emerge as a dominant economy in the world by pursuing the invisible hand of market economy along with ethical wealth creation by private sector.

The economic reform measures announced since the outbreak of the COVID pandemic can propel India’s economic growth to 7.5% in the coming decade. The growth can reach upto 8% when we implement the simplified labour laws, the proposed Development Finance Institution and other financial sector reforms announced in the Union Budget 2020-21. If the external environment is favourable, India can attain 10% GDP growth in the next decade. In a major shift in the policy mindset of the last 30 years, Government of India decided to empower and enable ethical wealth creation by the private sector.

By empowering private sector wealth creation under the Atma Nirbhar Bharat, India is returning back to its DNA. Historically, Indian economy contributed 1/3rd of the world economic output until1750 AD because of the role of private sector wealth creators.

At the same time, the government does not endorse private sector wealth creation through unethical profiteering,” said Dr. Krishnamurthy Subramanian, Chief Economic Advisor, Ministry of Finance, Government of India at a webinar organised by All India Association of Industries (AIAI).

Speaking about the MSME sector, Dr. Subramanian pointed out, “MSMEs have been the key focal point of the central government’s policy measures. The Rs. 3 lakh crore emergency credit line, revision of MSME definition and simplification of labour laws are aimed at supporting the growth of MSMEs. The consolidation of 29 labour laws into four labour codes is the historic reform announced since 1991. The relationship between MSMEs and the government is similar to that of parent-child. Government should support MSMEs till the infancy and growth stage; once firms attain maturity stage, they should reduce their reliance on government support.”

Sharing views on reforms in the agriculture sector, the Chief Economic Advisor said, “India needs reforms in the agriculture sector by opening market and creating more choice for farmers to sell their produce. Such reform measure will benefit farmers by creating more market opportunities and help us realize the aim of doubling farmers’ income.”

According to him, market reforms in the agriculture sector will not create monopoly and exploitation of farmers at the hands of the corporate sector.

Dr. Subramanian emphasized that Indian industry should compete with the best performers of the world to build their capability and thus pave the way for a Self-Reliant India. He said, “India has around 100 startup enterprises that attained unicorn status of USD 1 billion valuation through technology innovation, without much support from the government.

Dr. Subramanian mentioned that the government has hiked capital investment by 35-40% in the recent budget to increase investment on power, road and railways. This will reduce cost of power and cost of logistics for the industry.

He finally suggested MSMEs to increase their scale of production and create more jobs, so that it will grow the nation’s GDP and tax collection, which can be redistributed for welfare schemes.

Earlier in his welcome address, Mr. Vijay Kalantri, President-All India Association of Industries (AIAI) welcomed the government’s reform measures that facilitated V-shaped recovery and increased GST revenue collection.

At the same time, Mr. Kalantri flagged some of the key challenges of the MSMEs. He said, “MSME is the vibrant sector that contributes 30% to GDP, 40% to exports and manufacturing sector. However, timely access to finance at reasonable interest cost is still a challenge for many MSMEs. Bank credit to MSMEs as a share of total bank credit has declined in recent years. Government and Reserve Bank of India should infuse adequate liquidity in the hands of MSMEs and the general public to support aggregate demand.”

He added, “MSMEs are facing rising cost of steel and other raw materials because of imposition of anti-dumping duty. Therefore, the government should ensure that raw materials are supplied to small enterprises at globally competitive price.”

Mr. Kalantri also suggested the government to review the Insolvency and Bankruptcy law, which has become a take-over code rather than a legal framework for resolution of stressed assets. The insolvency regime should facilitate resolution and rehabilitation of insolvent firms rather than becoming a take-over code.

Finally, Mr. Kalantri recommended the government to provide tax and non-tax incentives to the hospitality and tourism sectors, which have borne the maximum brunt from COVID crisis, as these sectors contribute substantially to employment and GDP. Ms. Sangeeta Jain, Senior Director, AIAI delivered vote of thanks for the event.

The event was attended by senior officials from government, trade & industry, consular corps, consultancy organizations, economists and academicians.

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Mar. 24th - 30th, 2021 Issue

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MSME Minister Pratap Chandra Sarangi Inaugurates INDUSFOOD 2021 New Delhi Port Wings News Network hri Pratap Chandra Sarangi, Minister of State for Micro, Small and Medium Enterprises.

(MSME) and Ministry of Fisheries, Animal Husbandry and Dairying, on 20 March inaugurated IndusFood 2021 (4th Edition) in the presence of Shri D K Sing, Development Commissioner MSME, Shri Mohit Singla Founder Chairman TPCI, Shri Vivek Agrwal, Chairman F&B Committee TPCI, Shri Abhishek Poddar, ViceChairman F&B Committee and global buyers hailing from 52 countries.

Minister Sarangi was the chief guest of the event.

The IndusFood 2021, event was inaugurated at the India Expo Centre Grater Noida.

Speaking at the inauguration, Shri Pratap Sandra Sarangi said, “It is a great pleasure to see the business getting back to normal after pandemic, IndusFood is a great platform where local products will get a global window and connect. Even during pandemic the food and beverages sector have done exceedingly well,” Haling the Prime Minister Modi call for Atamnirbhar Bharat and vocal for local call he said,” India has inherent competencies and potential in food and beverage sector, MSME ministry and the government has done several reforms the need of the time is to work on excellence and focus on quality so that our products gets global recognition and price leading to export growth.”

Further Minister said, “It is heartening to note that we now self-sufficient in pulses production and have reduces the imports of edible oil by more than 25%. I am happy to note that through IndusFood Indian exporters will do a business negotiations of about 1 billion USD” There has been the advent of technology in the agri and food sector however it needs to be eco- sensitive and sustainable, he added.

Address the gathering DC MSME, Shri D K Sign Said, “MSME sector is the second largest employment

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generator after agriculture I am happy to see that such IndusFood has grown to such magnitude in short span, I am delighted to see fair of such a magnitude after pandemic in a physical format this will create enormous business and job opportunities for people in India.

Welcoming the 700 plus global buyers hailing from more than

52 countries Shri Vivek Agrwal, Chairman Food and Beverage Committee, TPCi said, “Recent rise in trade of value added food and beverages products has generated unforeseen opportunities for F&B companies. This has increased the relevance of both global value chain frameworks and production networks in the food processing sector.” Indusfood has emerged as the South Asia’s largest Food & Beverage trade show. This edition will be conducted with strict safety protocols and we are happy to have taken this daring step to set up the fair in physical format despite lingering challenges he added.

Shri Abhishek Poddar, Vice Chairman F&B Sectoral Committee said, “I am happy to share that, the large Business delegations from African countries, EU, Gulf countries, Bangladesh, Belarus, Nepal, Russia, Tajikistan, Turkey, UAE, Uzbekistan and USA; besides prominent supermarket chains such as Nesto (GCC), Grand Hypermarket (GCC), LuLu (GCC), Savings (GCC), West Zone (UAE), Al-Safeer Hypermarket (GCC), Carrefour (GCC & France), X-5 Retail (Russia), Rewe (Germany).

Lidl (Germany), Swapno (Bangladesh), BIM Supermarket (Turkey & Morocco), Finest

Superstore (Afghanistan), and many others from different regions across the world will be participating in ‘IndusFood’ 2021.”

IndusFood 2021 also saw participation from the states of India, which its thematic participation of Industry & MSME Departments of States of Odisha, Haryana and Tamil Nadu. Jammu & Kashmir (UT).

There has been ongoing business sessions and signing of MoU in the side-line of the show.

Ms Ankita Kar, IRAS, Managing Director, Jammu Kashmir Trade promotion Organisation (JKTPO), signed MoU with Shri Mohit Singla, Chairman Trade Promotion Council of India, for Agro and food processing sector and film and tourism sector. TPCI will impart and deliver sectoral knowledge, research-based information, policy advocacy, marketing and developmental activities in the focus sectors.

JKTPO and TPCI will also work together to enhance the outreach to international community.

TPCI inked another MoU with the Indian business council of foreign economic relation board of Turkey (MUSIAD) for strengthening business relations. Both side agreed to facilitate industry leaders to participate in BSM and exchange economic information.

Food and beverages sector is a robust and progressive sector and has been sustainably recording growth despite pandemic. India’s F&B exports during 2020-21 (AprilDecember’2020) have increased at 9.19% yoy. It’s surprising to see global rice buyers queuing to source rice from India, including nonbasmati which might touch a record high of 16 million tonnes. Between 2019-20 April - December the non- basmati exports grew by more than 111%, maize 250%, pulses by almost 34%, processed fruits and vegetables by 19%, Other fresh vegetables by 29%. It is heartening to see that we have now become self- sufficient in pluses and reduced the edible oil imports by more than 25%., which is incredible.

FIEO Launches “Container Demand e-module” to Address Containers Unavailability New Delhi Port Wings News Network o facilitate assessment of containers requirement as well its fulfilment, FIEO has developed a first level marketplace wherein exporters can post their container demands online.

The e-module will help in ground level assessment of containers required in the country while simultaneously enabling the exporting community to negotiate competitive quotes for their requirements. The web link has been made live and exporters across the country have started posting

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their container requirement for various origindestination pairs.

The containers requirement u p l o a d e d through the e-module are also made visible to Shipping lines/ Freight forwarders/others so that they can express their interest to fulfil such demands. This will also help them to better assess the demand of containers in the country so as to meet it with repositioning of containers or bringing empties.

The e-module will also address

the issue of container shortage reported by exporters, affecting their shipments and pulling down country’s exports and claims made by shipping lines that they are fully equipped to provide containers between 1-3 days at all locations for all destinations except for few destinations in Africa as congestions and berthing of ships at these destinations is taking 8-10 days time.

Trade & Industry has welcomed the move calling it the most timely initiative to address biggest supply side disruptions faced by them in the current times.

Ship Recycling Yard In Gujarat Sees A Dip In Business Chennai

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Port Wings News Network he world’s largest ship recycling yard at Alang in Gujarat is experiencing a sudden slump in business over the past couple of months as ship recyclers in neighbouring Pakistan and Bangladesh are offering higher prices for the vessels coming for dismantling, reports The Financial Express.

Since the beginning of 2021, only 26 new vessels have reached Alang Yard, says Ramesh Mendpara, vice president of Alang Ship Recycling Industry Association adding, “On an average 30 to 35 ships arrive at Alang per month. In January 14 ships were bought by Alang based recyclers and in February figure further shrink to only 12. In the current month, domestic recyclers could hardly buy 10 vessels.”

The recyclers in the neighbouring countries are offering as high as $460 to $470 per ton. “Recyclers in India have been mandated to follow green shipbreaking guidelines, which are not being followed in Pakistan and Bangladesh. As a result of it, they can afford to quote higher prices,” claims Mendpara.

Post worldwide lockdown, ship recycling business at Alang attracted good business. From June 2020 onward recycling started recovering amid the Covid-19 pandemic situation as many merchant ships across the world were sent for recycling. Alang based recyclers anticipated huge

business opportunity but the bulk of the business went to neighbouring Pakistan and Bangladesh.

As per the official data of Gujarat Maritime Board (GMB) during the year 2017-18 the yard handled 24.33 MT scrap by dismantling 253 ships.

In the year 2018-19 and 2019-2020 the Alang yard handled 17.73 lakh MT and 16.22 lakh MT through 219 and 202 vessels respectively. During the current financial year, nearly 165 ships have come to Alang for dismantling. With hardly a fortnight remain for the completion of the current fiscal, the total number of ships at Alang wouldn’t cross 175, laments Mendpara.

He says that the state government and GMB needs to think about the reduction of exorbitant tariff and rent because the central government is in the process to double the tonnage capacity of Alang from the existing 50 lakh tonne per annum. For this purpose, Union Finance Minister Nirmala Sitharaman announced Rs 1724 crore corpus, he added.

At present 153 plots (units) are operating at Alang. The yard is blessed with a high tidal range, a long beach with a gentle slope and firm ground facilitating the beaching of ships just at the threshold of the plots.

Since the inception of the yard in the year 1982-83, the highest number of ships (415) came to the yard in the year 2011-12 and 38.5 metric tons (MT) of scrap was handled. The recycling industry is providing direct and indirect employment to nearly five lakh people.

Gangavaram Port: Adani Ports Set To Buy 58.1% Stake From Promoters For Over Rs 3,600 Crore Chennai

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Port Wings News Network dani Ports and Special Economic Zone Ltd (APSEZ) is set to acquire the 58.1 per cent stake held by DVS Raju and family, the promoters of Gangavaram Port Ltd, in a deal worth more than Rs 3,600 crore that helps raise its stake to 89.6 per cent in the port located in Visakhapatnam, reports BusinessLine.

Raju and family own about 30 crore shares in Gangavaram Port Ltd and the deal is said to have been struck at Rs 120 a share, multiple sources said.

On March 3, APSEZ said it has acquired the 31.5 per cent stake held by Windy Lakeside Investment Limited (an affiliate of private equity firm Warburg Pincus LLC) in Gangavaram Port Limited (GPL) at Rs 120 a share for Rs1,954 crore.

APSEZ said it was also in discussions with the port promoter DVS Raju and family to buy their 58.1 per cent stake in GPL, the second largest non-major port in Andhra Pradesh.

“The Adani Group never acquires minority stake in any port,” said a port industry consultant. “They always look for management and operational control. In the case of Gangavaram, it was just a case of sequencing of events,” he added.

APSEZ said it has nothing to say beyond what was mentioned during the March 3 announcement which said it was “in discussions with Raju and family to buy their 58.1 per cent stake”.

Gangavaram Port did not respond to a text message seeking comment.

The deal expands APSEZ port

market share to 30 per cent across 12 locations.

Handling capacity GPL is located in the northern part of Andhra Pradesh next to Centre-owned Visakhapatnam Port Trust with a capacity to handle 64 million tonnes (mt) of cargo.

Gangavaram Port Ltd, the entity that runs Gangavaram port, was awarded the rights by the Andhra Pradesh government to develop and operate the port for an initial period of 30 years beginning 2009 and extendable by two terms of 10 years each till 2059.

GPL is contractually mandated to share 2.1 per cent of its annual gross revenue with the AP government till 2039, 4.2 per cent from 2039 till 2049 and 8.4 per cent between 2049 and 2059.

Gangavaram is an all-weather, deep water, multi-purpose port capable of handling fully laden super capesize vessels of up to 200,000 tonnes. Currently, GPL operates 9 berths and has free hold land of about 1,800 acres. With a master plan capacity for 250 mt with 31 berths, GPL has sufficient headroom to support future growth.

GPL handles a diverse mix of dry and bulk commodities including coal, iron ore, fertilizer, limestone, bauxite, sugar, alumina and steel. GPL is the gateway port for a hinterland spread over 8 states across eastern, western, southern and central India.

In FY20, GPL handled 34.5 mt of cargo, generated revenue of Rs 1,082 crore, EBITDA of Rs 634 crore (margin of 59 per cent) and net profit of Rs 516 crore. GPL is a debt free company with cash balance of over Rs 500 crore.

Mar. 24th - 30th, 2021 Issue

How Can Shipping Rates Fall Below Zero?

Chennai

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Port Wings News Network n the movie “Spinal Tap,” guitarist Nigel Tufnel shows off an amp with a dial that goes from zero to 11. “It’s one louder,” he boasts. When asked why the amp strength for 10 is not simply increased, he replies, “These go to 11.”

In ocean shipping, the dial can swing in the opposite direction.

Reported freight rates are sometimes below zero. Is this just a measurement mirage, à la Tufnel’s amp? Or do rates actually go negative, with shipowners effectively paying to move someone else’s cargo?

NEGATIVE TCE RATES Last week, average time-charter equivalent (TCE) rates for very large crude carriers (VLCCs; tankers that carry 2 million barrels of crude) sank to -$7,400 per day on the Middle EastAsia route. Multiplied by a voyage duration of around 50 days, that’s a net cost of $370,000 to the shipowner delivering a customer’s crude.

Clarksons Platou Securities said the current downturn marked “the lowest VLCC earnings in probably 25 years.”

Dry bulk shipping saw negative rates in Q1 2020. Average TCE rates for Capesizes, bulkers with capacity of around 180,000 deadweight tons, briefly dipped to -$98 per day on the Australia-China route.

TCE RATE CALCULATION Negative rates are not about a shipowner telling an oil trader, “Hey, if you give me this job, I’ll pay you $370,000 for the privilege of bringing your 2 million barrels of crude from Saudi Arabia to China.”

In a spot voyage deal, the shipper pays the vessel operator per ton of cargo. That, of course, is always a positive number. To derive the TCE rate, the dollars-per-ton price is converted to an estimated dollarsper-day rate, based on assumptions on voyage duration and other factors.

The key point is the ship operator pays for the fuel in a spot voyage contract. So, the TCE rate is calculated net of fuel. Negative TCE rates imply that the ship operator paid more for the voyage’s fuel than it pocketed from the cargo shipper for transport. Which raises the question: Why would a shipowner do such a thing when it will lose less money by refusing the deal?

In many cases, the answer is: The shipowner didn’t.

THE PROBLEM WITH RATE ASSUMPTIONS When index providers and brokers estimate TCE rates, they must make assumptions on the price of fuel and average speed of the ship. Reality is different from these estimates.

The fuel price estimate is based on a price in a particular marine bunker fuel hub associated with a particular route on a particular day.

But a ship sailing that route did not load its fuel that day. Also, it often loaded fuel under a long-term contract priced below the reported fuel numbers.

More importantly, ship operators doing spot voyage contracts choose what speed they sail on the ballast (unladen) leg. In a depressed market, there’s no reason for the ship operator to rush back to pick up the next load. And the slower the ship returns, the more it saves on fuel.

As Euronav CEO Hugo De Stoop lamented during a Capital Link virtual event this month, “When we see the average speed computed by some of the brokers — this is a shame. People don’t understand economics.

Consumption is exponential. So, if you reduce your speed by 1 or 2 knots, there is a massive reduction of what you’re going to consume.”

In other words, the ship operator may not really be paying more for fuel than it earns on the voyage.

The TCE rate may not really be negative. The fuel assumptions made by the broker or index creator

may be too high.

THE IMO 2020 FACTOR Another reason why TCE rates may not really be negative involves the IMO 2020 regulation.

Since Jan. 1, 2020, ships have been required to burn more expensive 0.5% sulfur fuel known as very low sulfur fuel oil (VLSFO). However, if they have exhaust gas scrubbers, they can keep burning cheaper 3.5% sulfur fuel called high-sulfur fuel oil (HSFO). Because most ships use VLSFO, virtually all TCE indices (except S&P Global Platts’) and broker assessments are calculated by netting out the price of a voyage’s estimated VLSFO consumption. The same dollarsper-ton transaction would equate to a substantially higher TCE rate for a scrubber-equipped ship, because that ship is paying less for its HSFO. Clarksons estimated earlier this year that 36% of VLCCs and 29% of Capesizes already have scrubbers.

Last week, it cited specific examples of scrubber-fitted VLCCs taking very low rates, creating the illusion of negative TCEs. A side effect of IMO 2020 — a regulation designed to protect the environment — is a lower overall reported rate floor in very depressed tanker and dry bulk markets.

Because now, a sizable portion of the fleet (those with scrubbers) can underbid the ships being used to calculate TCE rate assessments (those without scrubbers).

SOME NEGATIVE RATES ARE REAL Despite the various illusory effects, some rates are actually negative. There are several reasons ship operators might opt to book a voyage that earns less than the fuel cost.

One is repositioning. A tanker or bulker owner may take a negativeTCE-rate cargo on a backhaul run if it’s repositioning the vessel for a future fronthaul. It may also do so if a ship needs to go a certain direction anyway, such as to a yard for work. If you’re paying for fuel to get somewhere, any money for the cargo is better than nothing.

The debate today is about something different. It’s about whether a ship on a major fronthaul route, such as the Middle EastChina VLCC route, would move at a negative TCE rate.

RELUCTANCE TO LAY UP SHIPS One reason this might conceivably happen is that it’s better to keep ships moving for operational and commercial reasons. Ships that stay stationary too long can suffer from hull fouling (marine growth) and other issues that require maintenance work. That’s why tanker operators use their oldest ships for floating storage charters.

When tankers were flirting with negative TCEs back in 2011, several owners did put ships in layup. The orderbook was much higher then and the recovery was thought to be far off. This year, the orderbook is very low and owners believe the recovery could come as soon as the second half. Fearnleys Research reported last week, “Quiet mutterings of warm [VLCC] layups remain mutterings at present.”

Could owners be reluctant to put tankers into layup in order to avoid both re-start costs and the opportunity cost of being “out of the market” when rates rebound? Could they temporarily accept negative TCE rates due to “FOMO,” the fear of missing out?

The debate continues. Clarksons Platou Securities insisted last week that “negative TCE earnings make no sense of course, as owners would be better off standing still.”

Only shipowners know their own fuel bills, and thus, whether sub-zero TCE rates are actually being accepted. And if they are, shipowners would have no reason to admit it.

IT’S WORSE THAN IT LOOKS The punchline is that a sub-zero TCE rate is not the real negative number that matters.

For a VLCC, the all-in breakeven rate — including finance costs as well as operating expenses such as crewing — can be around $22,000$25,000 per day. If a non-scrubber, non-eco-designed VLCC was booked at an actual TCE rate of -$7,400 per day, it could be losing over $32,000 per day. A scrubberequipped, eco-designed VLCC earning a TCE rate of $2,000 per day could actually be losing $20,000 per day or more.

Negative TCE rates garner headlines. They’re terrible for market sentiment. But the earnings dial for tanker and bulker owners is not really set at zero TCE. The real zero is the breakeven number — and commodity shipping rates sink below that threshold all the time.

5

Odisha Govt Reviews Dhamra, Gopalpur Ports Development Chennai

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Port Wings News Network he Odisha State Government has decided to have a master plan for development of an industrial hub and township near the Dharmra port, a report in Daily Pioneer said.

At a high level review meeting held here on Friday, Chief Secretary Suresh Chandra Mahapatra directed to demarcate the high tide line through ground level resurvey of the costal regulation zone for protection of the eco-system of the port area while planning for the development.

The meeting was also joined by Principal Secretary Commerce and Transport Madhusudan Padhi and Chairman and Managing Director IDCO Sanjay Singh among others.

The Chief Secretary directed the district Collector Bhadrak to protect the land adjoining the port for development of industrial hub and townships.

IDCO CMD Sanjay Singh advised to acquire the land and develop the sites for industrial use in coming years. Secretary Electronics and IT and Special Secretary Commerce and Transport Manoj Kumar Mishra appraised that Dhamra port was notified by the East Coast Railway in 2011 as a full rake handling point for both inward and outward traffic.

In the meanwhile, Dhamra Port Company Ltd (DPCL) has developed three new berths taking the total berths to five, he said.

The DPCL has also constructed 62.5 km of rail connectivity from Dhamara to Bhadrakh connecting the main Howrah-Chennai railway line, he added. DPCL Chief Executive Officer Subrat Tripathy apprised that

there has been manifold increase in cargo handling from the Dhamra Port in last eleven years.

The total export and import cargo handling has increased from 5 MMT in the FY 2011-12 to 29.71 MMT in 2019-20. This year, the port has already handled 29.37 MMT cargo

by February, 2021. The total cargo handling during the current FY is expected to cross 30.5 MMT, said Tripathy.

Chief Secretary Mahapatra also reviewed the progress of Goplapur Port on the east coast.

The port has resumed its operation from 2015 after necessary repairs and renovation. The port was severely affected by the cyclone Hudhud in the year 2014.

It has developed a stock yard of 2, 80,000 sqmt. Its berth No-2 is also being mechanised for easy import and export. The CEO of the port apprised that the mechanisation of the berth would be completed by March, 2021.

Presently, it has two operational railway siding. Construction of railway yard with four operational sidings has been expedited.

This would cater to multiple rake handling. Target was fixed to complete this by March, 2021.

The Gopalpur port is now running on operational profit with annual handling of around 5 MMT cargo.

The port authorities were also advised to mobilise port-based industrial houses for developing industrial clusters near the ports.

Sources said these two ports are now providing daily employment to around 4,300 people in port operations, apart from their regular employees.

AstraZeneca Vaccine Halt Could Slow Down Asia’s Economic Recovery, says Economist Chennai

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Port Wings News Network sia’s economic recovery could slow down as more countries suspend the use of the Covid-19 vaccine developed

by AstraZeneca and the University of Oxford, warned the chief AsiaPacific economist of Moody’s Analytics, reports CNBC. “It adds some modest risk to the role that Asia plays in terms of the global economic turnaround,” Steve Cochrane told CNBC’s “Squawk Box Asia” on Tuesday.

Reports of blood clots in some people who received the AstraZeneca-Oxford shot led several countries — many of them in Europe — to temporarily stop using the vaccine. The World Health Organization said there’s no link between the shot and an increased risk of developing blood clots and is investigating.

Vaccine impact on global trade Cochrane said issues surrounding the AstraZeneca-Oxford vaccine could hurt global trade — and that’s bad news for Asia where many economies are dependent on trading activity.

“There’s a possibility it could put a dent in terms of global trade if the vaccine rollout is delayed in Europe and that were to mean that there were some more extensive lockdowns on the economy in Europe — then that

could slow down the pace of global trade,” he explained.

Asian countries have been relatively successful in containing the virus, and that’s helped their economies recover quicker than those in Europe and the U.S. Fortunately, renewed lockdowns in some parts of Europe have not hit manufacturing, said Cochrane. He added that “almost all” of the impact from those lockdowns have affected the services sector.

“So, right now, it’s not that big of an issue and global trade still looks like it’s very, very strong,” said the economist. “The vaccine is a risk, of course. It’s one of the critical risks, we still have to see vaccines roll out over the course of this year for the global economy to get back on its feet.”

Thailand briefly halts AstraZeneca vaccine Thailand briefly halted the use of the AstraZeneca-Oxford vaccine on Friday, but authorities said on Monday they would go ahead with administering the shots.

Thai Prime Minister Prayuth Chan-ocha became the first person in the country to receive the AstraZeneca-Oxford shot on Tuesday, reported Reuters.

Elsewhere in Asia, Indonesia said Monday it will delay the rollout of the AstraZeneca-Oxford vaccine while waiting for the review from WHO, the news agency reported.

6

Vessel Position at Terminals - (24.03.2021 To 31.03.2021)

Mar. 24th - 30th, 2021 Issue

7

CCTL - Chennai ETA

ETD

Service

Vessel Name

24/03

25/03

CI5

27/03

28/03

28/03 25/03

Voy

Agent/Line

Kattupalli

Calling Ports

ETA

ETD

Service

Vessel Name

Voy

Agent/Line

Calling Ports

NORTHERN GUARD

TAO/PUS/SHA/SKU/SIN/PKW/ PKG/MAA/KAT/PKG/SIN/PGU/ SKU/KHH/TAO

24/03

25/03

CCG

MESSINI

112W

EMC

Cochin , Nhava Sheva, Mundra, Jebel Ali, Bandar Abbas, Dammam

PIC-2

SSL GUJARAT

CMB/TUT/COK/JEA/IXY

25/03

26/03

ACS

AS RICARDA

009W

HMM

Nhava Shiva,Mundra, Khor Al Fakkan, Port Klang,Singapore, Shanghai,

29/03

ECH

SSL KUTCH

KAT/HAL/CGP/PRT/KAT/KRI

25/03

26/03

C15

NORTHERN GUARD

048W

GOL

26/06

CCS

CONTSHIP LEX

CMB

26/03

27/03

TCX

MOL GATEWAY

106W

ONE

Port Kelang(North port) – Singapore,Shangha

27/03

28/03

ACS

HYUNDAI PARAMOUNT

060W

HMM

Nhava Shiva,Mundra, Khor Al Fakkan, Port Klang,Singapore, Shanghai,

28/03

29/03

UBB

AS RAFAELA

010N

SCA

CITPL - Chennai ETA

ETD

Service

Vessel Name

Voy

Agent/Line

Calling Ports

24/03

25/03

FME

SUEZ CANAL

21002W

TST

Port Kelang(North port) – Singapore,Shangha

29/03

30/03

FME

ZANTE

085W

RCF

Port Kelang(North port) – Singapore,Shangha

26/03

27/03

TCXNEW

MOL GATEWAY

106

ONE

Port Kelang(North port) – Singapore,Shangha

Kakinada Container Terminal ETA

ETD

Service

Vessel Name

26/03

27/03

KAK>CMB

28/03

29/03

KAK>KRI

Voy

Agent/Line

Calling Ports

RHL AURORA

SAMSARA

Halida,Colombo

SSL SABARIMALAI

SSL SABARIMALAI

Halida,Krishnapatnam

VCTPL, Vizag

DAKSHINBHARATH GATEWAY TERMINAL / Tuticorin 24/03

25/03

CTS

MV.KAPTIAN MASLOV

114S

FAR SHIPPING

COLOMBO, TUTICORIN, COLOMBO

ETA

ETD

Service

Vessel Name

Voy

Agent/Line

25/03

26/03

TUX

MV.OEL SHRAVAN

2118

TWF

COLOMBO, TUTICORIN, COLOMBO

23/03

24/03

CVK

MSC AGATA

XA111A

MSC

26/03

27/03

BOX

MV.XPRESS COTOPAXI 21023S

BTL

COLOMBO, TUTICORIN, COLOMBO

26/03

27/03

CVK

MSC JANIS3

SV111R

MSC

27/03

28/03

IEX

AL MANAMAH

2107E

HLL

FAR SHIPPING

COLOMBO, TUTICORIN, COLOMBO

Colombo,Damietta Piraes Rotterdam, London

27/03

28/03

FME

SUEZ CANAL

2112E

TSL

TWF

COLOMBO, TUTICORIN, COLOMBO

Port Kelang(North port) – Singapore,Shangha

30/03

31/03

CHX

SM NINGBO

111W

MSK

Ennore, Krishnapatnam, Visakhapatnam ,Tanjung Pelepas, Xingang, Qingdao

31/03

1-4

MDM

CAPE MAYOR

22708E

WHL

Colombo

27/03 28/03

28/03 29/03

CTS TUX

MV.KAPTIAN MASLOV MV.OEL SHRAVAN

115S 2119

NSICT - Mumbai ETA

ETD

Service

Vessel Name

Voy

Agent/Line

24/03

25/03

BMM

GEMINI

EMS MSK

24/03

25/03

BLUENILE

MAERSK INNOSHIMA

24/03

25/03

GIX

NORO

PRD

25/03

26/03

CSC

COSCO NAGOYA

PRD

26/03

27/03

MIDAS

AS PATRICIA

MSK

26/03

27/03

IPAK

MSC ESTHI

MSC

27/03

28/03

MWE

MAERSK BROOKLYN

MSK

28/03

29/03

MECL

MAERSK KENSINGON

MSK

29/03

30/03

AS1

CMA CGM FIDELIO

CCA

30/03

31/03

ME2

MAERSK GAINRLOCH

MSK

31/03

01/04

BLUENILE

UNI FORTUNA

MSK

31/03

01/04

MESAWA

MAERSK INDUS

MSK

31/03

1-4

CSC

GUENTHER SCHULTE

SMM

Calling Ports

Cargo Handling of Dhamra Port Expected To Cross 30.5 mt this FY Nhava Sheva, Mundra, Port Qasim, Singapore

Colombo,Damietta Piraes Rotterdam, London

Pipavav,Hazira,JNPT,Jebel Ali,Salalah,Port Said,Mersin,Ambarli Port,Izmlt Korfezi,Novorosslysk

Mundra, Nhava Sheva, Valencia, New York, Norfolk, Charleston, Savannah, Freeport

APM Terminal - Mumbai ETA

ETD

Service

Vessel Name

25/03

26/03

MINA

28/03

29/03

23/03

24/03

27/03

28/03

Voy

Calling Ports

Agent/Line

Calling Ports

NINGBO EXPRESS

HLI

Jebel Ali, Mundra,Hazira,Nhava Sheva

CWX

BARBARA

SEC

NMG

CAPE MORETON

SEC

Pipavav,Port Klang,Singapore, Shangai, Ningbo, Xiamen

MAE

Pipavav,Hazira,JNPT,Jebel Ali,Salalah,Port Said,Mersin,Ambarli Port,Izmlt Korfezi,Novorosslysk

ME3

MAERSK KIEL

MAE

Pipavav,Hazira,JNPT,Jebel Ali,Salalah,Port Said,Mersin,Ambarli Port,Izmlt Korfezi,Novorosslysk

26/03

27/03

FM3

MAERSK EUPHRATES

24/03

25/03

CWI

IKARIA

GLD

Pipavav,Port Klang,Singapore, Shangai, Ningbo, Xiamen

26/03

27/03

ASX

GFS GISELLE

SMM

Jebel Ali, Mundra,Hazira,Nhava Sheva

As the data is received by us, sometimes even at the eleventh hour by telephonic messages from the concerned Steamer Agents, there is every likelihood of last minute changes in the data published for which and also for the printing errors occuring the Management of Port Wings is not responsible or liable.

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Chennai

Port Wings News Network he total cargo handling of Dhamra Port during the current financial year is expected to cross 30.5 million tonne (mt), according to a report in Update Odisha Online. This year, the port has already handled 29.37 mt cargo by February, 2021.

Chief Executive officer of Dhamra Port Company Limited (DPCL) Subrat Tripathy informed that there has been manifold increase in cargo handling from Dhamara port within last eleven years.

The total export and import cargo handling has increased from 5 mt in the financial year 2011-12 to 29.71 mt in 2019-20.

The port envisions enhancing its cargo handling capacity to 300 MMT per year in coming years. The port has paid around Rs 612 crore of State revenue over last ten years.

Reviewing the progress made of the port,

Chief Secretary Suresh Chandra Mahapatra directed the Collector Bhadrakh to protect the land adjoining the ports for development of industrial hub and townships. Mahapatra said, “With quantitative and qualitative growth of Dhamara port, railway and road connectivity and coming in of the LNG Tank near the port, the area is rapidly heading towards a port town.

Master planning of the area and protection of the available land would provide further fillip to the port-led industrial development in the area”.

Chairman and Managing Director IDCO Sanjay Singh, present in the meeting, was advised to acquire the land and develop the sites for industrial use in coming years.

Dhamara Port Company Ltd (DPCL) has developed three new berths taking the total berths to five. DPCL has also constructed 62.5 kms of rail connectivity from Dhamara to Bhadrakh connecting the main HowrahChennai railway line.

Cargo Traffic at 12 Major Ports Falls for 11th Month in February New Delhi Port Wings News Network ndia’s top-12 ports witnessed a considerable decline in cargo traffic for the eleventh straight month in February to 600.62 million tonnes (MT), according to ports’ apex body IPA. According to a news report in Livemint, cargo traffic at 12 major ports that are under the control of the Centre dropped by 6.61% to 600.62 million tonnes (MT) during AprilFebruary this fiscal, compared with 643.10 MT in the year-ago period, the Indian Ports Association (IPA) said in its latest report.

All ports, barring Paradip and Mormugao — which recorded 0.27% and 30.93% increase in cargo handling to 102.90 MT and 19.28 MT respectively, saw negative growth.

Cargo handling at Kamrajar Port (Ennore) nosedived 23.29% during April-February to 22.23 MT, while ports like Mumbai and

I

VO Chidambaranar saw their cargo volumes dropping by over 12% during the said period.

Cochin and Chennai ports suffered a sharp decline of about 10%.

JNPT saw a decline of 8.06% in cargo volumes, while Deendayal Port Trust and Kolkata ports logged an over 6% drop in cargo volume. Cargo handling at New Mangalore and Visakhapatnam slipped 5.30% and 4.87%, respectively.

India has 12 major ports under the control of the central government -- Deendayal (erstwhile Kandla), Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), V. O. Chidambaranar, Visakhapatnam, Paradip and Kolkata (including Haldia).

In the wake of the COVID-19 pandemic, sharp declines were witnessed in the handling of containers, coal and POL (petroleum, oil and lubricant), among other commodities.

Mar. 24th - 30th, 2021 Issue

Indian Register of Shipping Receives Contract for Classification of Indian Army Boats Chennai

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Port Wings News Network ndian Register of Shipping (IRClass), an international ship classification society, has won a contract to provide classification services for a fleet of Fast Patrol Boats & Landing Craft Assault (LCAs) currently under construction for the Indian Army.

The Indian Army placed an order on Goa Shipyard Ltd to build 12 Fast Patrol Boats in January this year. These boats will be deployed for surveillance and patrolling of large water bodies, including those in high altitude areas like Pangong Tso lake in Ladakh. The boats are expected to be delivered by May 2021.

IRClass is also certifying 17 No. high speed Landing Craft Assault (LCAs), for the Indian Army, which

are already under construction at Aquarius Shipyard, Goa. These crafts are also being built for high altitude, low temperature specialized operations.

H e a d of IRClass Defence Division, Cdr KK Dhawan (Retd.), said: “Indian Register of Shipping is proud to extend its classification services now to the Indian Army.

IRClass will be approving the design and certifying the construction of 29 units of Fast Patrol Boats and LCAs which are being constructed by Goa

Shipyard Limited and Aquarius Shipyard respectively. This affirms IRClass’ commitment to the Indian defence industry and reflects the confidence of Defence customers in the capabilities and competence of IRClass.”

The contract follows on from IRClass’ success in obtaining orders for classification and certification of several major projects of the Indian Navy including Survey Vessels (Large), Diving Support Vessels, ASW-SW Corvettes, Diving Support Crafts and various yard crafts.

IRClass is also engaged in providing its services to other paramilitary and government services, including the Indian Coast Guard, Border Security Force (BSF), National Disaster Response Force (NDRF), State Police Departments amongst others.

FFAs tipped to play integral role in volatile LNG market Chennai Port Wings News Network

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orward Freight Agreements will play a key role in an increasingly volatile LNG market, says leading shipbrokers Simpson Spence Young [SSY].

Intercontinental Exchange [ICE] an operator of global exchanges and clearing houses, has launched LNG freight futures contracts based on Spark Commodities’ [Spark] price assessments. These will supplement the existing Baltic routes used to settle LNG FFAs cleared and listed

by CME. The new contracts, the Spark30S Atlantic and Spark25S Pacific LNG Freight Future contracts, will be traded and settled in USD per day.

The first trading day is scheduled to be this Monday [22 March], with the forward curve going up to and including December 2023.

Phillip Tripodakis, a shipbroker with the SSY gas team, believes these new offerings could be a game changer.

“With an increasingly liquid LNG FFA market, both owners and

charterers will be able to effectively manage and optimise their freight price exposure and capture best value from seasonal changes in the market,” Tripodakis said.

“Spark-linked time charters in conjunction with LNG FFAs will enable owners to hedge against shoulder month market lulls while maintaining exposure to lucrative seasonal upswings.

“In turn, charterers can make focused hedges against winter freight rate peaks while ensuring they pay the bottom of the market in the shoulder months.”

“From 2023 onwards, the LNG market should rebalance,” Tripodakis added. “We expect to see healthier rates across seasons as demand growth for LNG continues unabated and a record amount of new LNG production comes on

stream. Existing vessel capacity will be short to cover this additional demand for shipping.

“It’s an exciting sector experiencing major changes and FFAs will be crucial going forward.”

Market participants can use the LNG FFA contracts to manage price risk in respect of round-trip voyages between the US Gulf Coast and North West Europe [Spark30 assessment]; and Australia and Japan, Korea, Taiwan and China [Spark25 assessment], in addition to the Existing Baltic routes.

SSY’s Head of Energy Derivatives James Whistler said: “We are delighted to see ICE joining the LNG FFA market with an offering based on the popular Spark indices, ICE will bring new traders on board as they have such a strong existing network of LNG traders who will want to cover their freight exposure. Anyone wanting to execute in these new markets should contact SSY Futures in either London or Singapore, as we have the necessary skills and contact base to intermediate their trades and give them up for ICE or CME clearing.”

Major Japanese Lenders Join Shipping Industry Scheme To Cut Carbon Emission Chennai

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Port Wings News Network eading Japanese lenders have joined an initiative that links the provision of shipping finance to cuts in carbon dioxide emissions as the sector accelerates efforts to go green.

In recent weeks, Shinsei Bank Ltd, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance & Leasing and MUFG Bank have signed up to the scheme, the banks said.

With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world’s CO2 emissions.

In 2019, a group of leading banks signed up to environmental commitments known as the “Poseidon Principles”, whereby financiers would take account of efforts to cut CO2 emissions when providing loans to shipping companies. Japan is one of the world’s major maritime

hubs, especially for shipbuilding.

By joining the scheme, MUFG Bank said on Tuesday it would “contribute to the sustainability of the shipping industry”.

Sumitomo Mitsui Trust Bank was the first Asian lender to join in March

last year.

There are now 24 institutions involved, including other major sector players such as Citi and Societe Generale. Their ship lending portfolios represent around $175 billion, nearly 50% of global

shipping finance.

The principles set a common baseline to assess whether lending portfolios are in line or behind the climate goals set by the U.N. shipping agency, the International Maritime Organization (IMO).

The IMO aims to reduce the industry’s greenhouse gas emissions by 50% from 2008 levels by 2050, a target that will require the swift development of zero or low emission fuels and new ship designs using cleaner technology.

Michael Parker, chair of the Poseidon Principles Association, said he was optimistic further Asian lenders would join this year.

“The other important driver will be (UN summit) COP26 in Glasgow, where we expect the shipping sector … to get global leaders’ attention on what progress the industry has made,” said Parker, who is also chairman of Citi’s global shipping, logistics and offshore business.

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NEWS - BITS Discovery Princess Floats Out At Fincantieri’s Shipyard In Monfalcone

Discovery Princess, the sixth Royal-class ship built for the ship operator Princess Cruises, a brand within Carnival Corporation, floated out today at Fincantieri’s shipyard in Monfalcone, according to the company’s release. Interior fittings will now begin, leading the vessel to delivery, scheduled next year.

The new unit, at 145,000 gross tons, is built on the basis of the successful sister vessel project of Royal Princess, Regal Princess, Majestic Princess, Sky Princess and Enchanted Princess, built and delivered in the same shipyard starting from 2013, introducing a new generation of ships so well-received by the cruise passengers.

Like her sister ships, the vessel will represent a new technological benchmark in Europe and worldwide for her innovative layout, outstanding performances and the top quality of its state-of-the-art marine technology. She will be the best proof that innovation and customer care are fundamental levers in showcasing market leadership and will further consolidate Fincantieri’s long-time partnership with Carnival Corporation, the world’s largest cruise ship operator and leisure travel company.

MOL Transports Fire Engines To Paraguay Mitsui O.S.K. Lines, Ltd. has announced the company’s recent transport of fire engines to Paraguay, in cooperation with the Embassy of the Republic of Paraguay in Japan. This is an ongoing activity starting in 2010. This year marked the 14th time, and to date MOL has transported a total of 88 engines, according to the company’s release.

This time, 10 fire engines were loaded aboard the MOL-operated car carrier Adria Ace at the Port of Yokohama, arriving at the Port of Asuncion on March 15. The engines will contribute to firefighting operations in the country.

MOL takes a proactive stance in social contribution activities that are unique to an ocean shipping company with a global network.

ABP Port-Centric Manufacturing Facility In Newport To Create 60 New Jobs

Associated British Ports (ABP), the UK’s leading and best-connected port operator, has celebrated the commencement of a project to build a new plasterboard factory at the Port of Newport, which will help create around 60 new full-time jobs in the area.

The new facility will be used to store gypsum, which will be delivered by ship before being used for the manufacture of plasterboard. This will eliminate the need to transport raw materials from the port to an in-land factory by road, which will help reduce CO2 emissions.

Furthermore, the factory will benefit from green power generated by ABP’s on-site renewables, including wind and solar sources.

As part of the project, ABP, together with a number of Europeanbased inward investors, has invested around £23 million to create the new manufacturing facility in Newport. Welsh Government has also contributed £750,000 in support of the project.

Minister for Economy, Transport and North Wales, Ken Skates, said: “This major investment in Newport is great news and a real show of confidence in the area.

CUSTOMS EXCHANGE RATES Notification No.31/2021 (N.T.) ALL RATES PER UNIT

FOREIGN CURRENCY Australian Dollar Bahraini Dinar Canadian Dollar Chinese Yuan Danish Kroner EURO Hong Kong Dollar Kuwaiti Dinar New Zealand Dollar Norwegian Kroner Pound Sterling Qatari Riyal Saudi Arabian Riyal Singapore Dollar South African Rand Swedish Kroner Swiss Franc Turkish Lira UAE Dirham US Dollar Japanese Yen (100) Korean Won (100)

with effect from 19th Mar. 2021

RATE (INR) Import Export 57.95 198.70 59.50 11.35 11.90 88.25 9.50 248.35 53.85 8.75 102.80 20.55 19.95 54.95 5.10 8.70 80.05 9.95 20.35 73.35 67.80 6.65

55.60 186.00 57.35 11.00 11.45 85.10 9.15 232.45 51.50 8.45 99.35 19.30 18.70 53.10 4.80 8.40 76.95 9.35 19.10 71.60 65.30 6.25

We are not responsible for any mistake. ALL RATES ARE PROVISIONAL. The rates in these column are only meant for guidance.

8

RNI No. TNENG/2014/59741 Postal Registration No. TN/CNIGPO/067/2021-2023 Posted at Pathrika Channel, Egmore, RMS, Chennai-8.

Date of Publication - Wednesday, Posted on Tuesday / Wednesday

PSA International Handled 86.6 Million TEUs in 2020, Records Two Percent Increase Chennai

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Port Wings News Network SA International Pte Ltd (PSA) handled 86.6 million Twentyfoot Equivalent Units (TEUs) for the year ended 31 December 2020, representing an increase of 1.7% from the previous year.

Notably, PSA Singapore contributed 36.6 million TEUs, a decline of 0.9% from 2019. PSA terminals outside Singapore delivered a total

Peter Voser, Group Chairman, PSA International, said: “Despite the supply chain shocks in the first half of 2020, the PSA team, together with our partners, rallied to meet our customer needs around the world.

This enabled us to finish the year on a strong footing with a credible performance, while still keeping safety at the forefront.”

Mr Peter Voser stated: “On behalf of the PSA Board and Management, I would like to thank our customers, stakeholders and partners for continuing to place File photo of PSA Chennai facility their trust in us. As a throughput of 50 million TEUs, business providing an essential service to the world, I am grateful increasing 3.7% over 2019.

PSA Group revenue increased for the dedication and commitment by 2.5% on higher throughput and displayed by the PSA team in carrying out their duties, while business acquisitions during the keeping the health and safety of our year. Profit from operations was colleagues and communities a key lower by 4.2%, and overall net priority.” profit for the year decreased by “PSA stands ready to continue 6.2% from previous year due to supporting our customers and lower other income and increase partners with strong operational in other operating expenses. PSA’s performance and supply chain balance sheet remains strong with a optimisation solutions amidst the gross debt equity ratio of 0.58 times COVID-19 crisis in 2021 and at the close of 2020. beyond. As a leading global port Commenting on the results, Mr group, we will also work alongside

stakeholders to expand our efforts towards combating climate change and building a more sustainable future,” added Mr Peter Voser.

Mr Tan Chong Meng, Group CEO, PSA International, said, “The importance of a seamless and resilient global supply chain has been clearly underscored by the events of 2020. Thanks to the dedication and resolve of our management, staff and unions, and in partnership with our customers, authorities and industry associates, PSA kept supply chains operational across our global network, while protecting ourselves, our partners and stakeholders.”

Mr Tan Chong Meng stated: “As a key global player in the transport and logistics industry, PSA is in a unique position to innovate, influence and effect change across the supply chain for greater reliability, and also for a healthier and greener world.

We are united in our drive to ensure long-term sustainability for our businesses, our partners, and the communities where we operate.”

“To this end, we have been purposefully building on our digital and cargo solutions capabilities to benefit cargo owners and customers, investing in people, equipment and technology for smarter resource efficiencies, and championing cross-industry partnerships to spur collective action towards a more sustainable world,” Mr Tan Chong Meng added,

Mar. 24th - 30th, 2021 Issue

ONE Apus Containership Returns To Sea Chennai

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Port Wings News Network he containership ONE Apus returned to sea more than three months after it sought refuge in Japan following one of the worst container losses at sea ever recorded.

The 14,052-TEU boxship departed Kobe, Japan on 16 March resuming the interrupted voyage to Long Beach, California where she is now expected to arrive on 30 March, four months after she lost 1,816 containers at sea during severe weather approximately 1,600 nautical miles northwest of Hawaii.

The ONE Apus departed Kobe at mid-day with only a partial load. She had arrived in Kobe on December 8 and the delicate process of offload the dislodged containers had begun. As of the end of February, ONE reported that nearly 1,000 containers had been offloaded. They were being sorted into containers that were too badly damaged, ones that could be transloaded, and those that remained stable.

The plan was to back-load as many of the original containers as well as the ones that had been transloaded.

However, ONE advised, “there are some containers originally carried on ONE Apus may need to be carried on different vessels due to safety and/ or operational constraints.” Shippers were also required to update and refile paperwork to facilitate the shipment and landing of containers in California.

Cargo claims consultants WK Webster reported that their surveyors remained in daily attendance to verify which containers were discharged and to also conduct an

initial external inspection and to review the condition of cargo in any containers that were being transloaded.

Images from the dock in Kobe show the shattered remains of numerous containers. No additional details have been released on the nature of the loss other than the initial statements which said that 64 dangerous goods containers were among the 1,816 lost overboard.

Insurance experts believe the claims will total more than $100 million.

Webster reports that investigations into the possible cause of the incident have been continuing. “The experts that we have appointed have been reviewing weather reports, voyage data, ship design, damage patterns as well as similar incidents where there may be certain common factors that have contributed to the cause of the incident,” writes Webster. Flag state representatives and inspectors from the classification society also toured the ship during its time in Kobe.

Once arriving off the San Pedro Bay port complex, the ONE Apus will have to enter the queue to reach her terminal. ONE estimates that she might not be alongside until April 7.

Maersk experienced a similar issue when its containerships Maersk Essen and Maersk Eindhoven, both of which also suffered container losses at sea, arrived at the port. The Maersk Essen arrived off the port on March 2 and was able to reach the terminal two days later. She departed Los Angeles for Asia on March 11. The Maersk Eindhoven arrived in the anchorage on March 13 and is currently waiting for space at the terminal.

DP WORLD Announces Resilient Financial Results

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26

YEARS

Akil Enterprises (Exim Logistics Agency)

• Clearing & Forwarding Services • Sea, Air Freight Services • Break Bulk Cargo Handling • Container Movements • Supply Chain Managements • Warehousing Arrangements No.72/149, Linghi Chetty Street, 1st Floor, Mannady, Chennai - 600 001. India Ph: 0091-44-42166381 / 25260381 Email: aeclear@gmail.com

26

YEARS

Chennai

Port Wings News Network P World on 18 March announced robust financial results for the year ended 31 December 2020. On a and we are now delivering efficient solutions reported basis, revenue grew 11.0% to $8,533 to our customers, which bodes well for the million and adjusted EBITDA grew 0.4% to future.” $3,319 million with adjusted EBITDA margin “In 2020, DP World de-listed its equity of 38.9%. from the stock exchange and returned to Sultan Ahmed Bin Sulayem, DP World private ownership. The strength and resilience Group Chairman and CEO, commented: that our business continually demonstrates “We are delighted that our portfolio has throughout the cycles is due to the investment performed better than expected and, in the Group has made over the years in response to changes in our industry. Our a year like no other, to ability to adapt and change has been deliver flat volumes, the key to our success, and we must stable EBITDA and freecontinue to evolve for continued cashflow growth is a S er t vice ren growth.” remarkable Truly Diffeachievement.

The container industry has “Looking ahead, we will continue outperformed the gloomy to be selective on new investments double digit decline that and focus on the integration of some predicted at the start our recent acquisitions to drive of the pandemic, which synergies, containing costs to illustrates the resilience protect profitability and managing of the market and DP growth capex to preserve cashflow.

World has outperformed We remain strongly committed to Sultan Ahmed Bin Sulayem, the industry once again, DP World Group Chairman and CEO. our 2022 combined (DP World and which demonstrates that PFZW) leverage target of less than we are in the right locations and a focus on 4x Net Debt to EBITDA (Pre IFRS16).” origin and destination cargo will continue “Overall, we are pleased that our business to deliver the right balance between growth has performed better than expected in 2020 and resilience.” and, while we remain cautious on the outlook Sultan Ahmed Bin Sulayem stated: given the continued issues surrounding the “We have continued to make progress on pandemic, geopolitical uncertainty in some our strategy to enable trade and deliver an parts of the world and the ongoing trade war, integrated supply chain solution to cargo we are encouraged by the start to trading in owners. We have focused our efforts on 2021 and remain positive on the medium to digitizing logistics and developed solutions long-term outlook for the industry and our for several verticals. We are pleased to state business,” concluded Sultan Ahmed Bin that cargo owners have responded positively, Sulayem.

Port Wings - Maritime Exim Weekly Newspaper : Published by K.Sivakumar on behalf of Universal Media Associates, Old No.72, New No.149, 1st Floor, Srinivasa Complex, Linghi Street, Mannady, Chennai - 600 001. And Printed by V.Meganathan at Web Kingdom, No.115, Jani John Khan Road, Royapettah, Chennai – 600014. Editor: K.Sivakumar.