Indian firms plan to invest in Iran's Chabahar project Trade Arabia Indian firms will invest heavily in the strategically important Port of Chabahar in Iran, said a senior Indian diplomat. An envoy from India recently visited Tehran, Iran, and toured the Chabahar Special Economic Zone, a report said. Chabahar port is crucial as it will give India sea-land access to Afghanistan bypassing Pakistan, and the port also enjoys many remarkable capacities and serves as a point which links the two governments of Iran and India, Indian Ambassador to Iran Saurabh Kumar was quoted as saying in an Iran Daily report during his tour of the port, citing PTI. India is ready to invest INR2,000 billion ($30.26 billion) at Chabahar SEZ but investments would depend on gas prices, said Transport and Shipping Minister Nitin Gadkari last month, the report added.

PSA Project Offers Carriers Fresh Option Port Technology A new terminal on India’s east coast has recently begun operations and offers the shipping world a key new option in accessing the lucrative Indian market. The new terminal, known as Kakinada Container Terminal is a joint project between PSA International, Kakinada Infrastructure Holdings and Bothra Shipping Services. It is hoped the new project will ease the pressure of a capacity shortage on the Indian east coast. The Port of Kakinada (KCT) said in a statement: “KCT is well connected by national highways and rail to key cities in the region. Coupled with its proximity to the cargo centres, the terminal is the perfect choice for shippers as it allows them to achieve significant savings in transportation cost and time.” India is a sleeping giant in terms of world trade potential and its port network, with rumours of vast expansions flying out from the country’s news media on a regular basis.

CMA CGM and Hapag-Lloyd to raise rates from December 1 Sea News Container shipping lines engaged in the beleaguered Asia-Europe tradelane are expected to follow in the footsteps of CMA CGM and Hapag-Lloyd in a desperate attempt to raise freight rates that have stubbornly remained under pressure amid weak demand and overcapacity. CMA CGM announced a general rate increase on the Asia-North Europe route of US$950 per TEU starting from December 1, while Hapag-Lloyd is seeking an increase of $650 per TEU, effective from the same date, reported The Loadstar. The string of failed GRIs was briefly interrupted at the beginning of November as rates rose by almost $1,000 per TEU - only to quickly contract by one-third of the increase as spot rates declined as carriers struggled to secure adequate cargo to fill their ships. Third-quarter liftings dropped by seven per cent year on year to 3.8 million TEU, according to the latest data from Container Trades Statistics - a downturn that continued into October.

Export incentive to boost natural rubber shipments Business Line The Centre has added RSS (Ribbed Smoked Sheet) and TSR (Technically Specified Rubber) in Merchandise Export from India Scheme (MEIS) which would make exporters eligible for an incentive at the rate of two per cent for exports to 169 countries including China, US, Germany, Italy, Poland, UK, Malaysia, Brazil, Egypt, Iran, Japan, Mexico, Russia, Singapore, South Africa, Turkey and UAE. The Rubber Board had been pressing with the Directorate-General of Foreign Trade (DGFT) for the inclusion of natural rubber (NR) in the MEIS since the announcement of Foreign Trade Policy (FTP) 2015-20, as the policy announced on 1 April 2015 had not included NR in any of the export incentive schemes. It is presumed that the inclusion of NR in the scheme would give a fillip to exports of NR from India. The extension of incentive as a part of FTP is expected to improve the competitiveness of Indian exporters by reducing infrastructural inefficiencies and associated costs. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com