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Live Mint
In the end, it was Prime Minister Narendra Modi and his ‘Make in India’
initiative that tilted the scales for the cabinet to sign off on a long
pending policy, much to the relief of India’s beleaguered shipbuilders.
That the shipbuilding policy took 17 months for cabinet approval after
finance minister Arun Jaitley announced it in his budget speech on 10 July
2014 by itself shows the many hurdles it faced. The main features of the
policy includes granting financial assistance to shipbuilders—both
state-owned and private—on each ship they build, irrespective of the size
and type, scaling down the quantum by three percentage points every three
years, starting with 20% in the first three years, 17% in the next three,
14% for the subsequent three years and 11% in the 10th year. The aid will
be given on contract or fair price, whichever is lower. The government has
set aside Rs.4,000 crore to implement the scheme over 10 years. The
financial assistance will be given only after the ship is built and handed
over to the buyer.
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JOC
Chennai Port Trust, India’s second-largest state-owned, major container
handler, has announced a new incentive scheme to attract more container
line calls. In a trade advisory this week, the port authority said all
container vessel operators using Chennai terminals will receive a 15
percent concession on its current charges for vessel-related services. The
discount plan will remain in force for six months, starting Jan. 1. The
incentive program comes as CPT sees an increasing risk of losing market
share to nearby privately-operated, minor cargo terminals such as
Kattupalli and Krishnapatnam. Thanks to aggressive efforts by new port
owner Adani Ports, Kattupalli International Container Terminal has won
fortnightly calls from Maersk Line on the CHX Service (Chennai Express)
operated jointly with Hanjin Shipping and from Taiwan carrier Wan Hai Lines
on an intra-Asia loop.
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Business Standard
nland Waterways Authority of India (IWAI) is executing Jal Marg Vikas
Project to enable plying of about 1500 DWT commercial vessels on
Haldia-Allahabad stretch of National Waterways-1 (NW-1) with technical and financial
support of World Bank. Development of fairway in the stretch of
Dhubri-Dibrugarh of NW-2 by providing 2.5 meter Least Available Depth (LAD)
is also being undertaken to facilitate commercial navigation. NW-3
(Kottapuram-Kollam) is fully operational and is being utilised for
commercial navigation. These measures are intended to provide opportunities
to ply vessels by private/state run companies on these NWs. A tripartite
agreement between National Thermal Power Corporation (NTPC), Inland
Waterways Authority of India (IWAI) and M/s Jindal ITF was executed for
transportation of three million tonnes of imported coal per year from
Sandheads, Bay of West Bengal to NTPC Power Plant at Farakka for seven
years.
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Business Line
Cochin Shipyard Ltd (CSL) is one step closer to building LNG ships, having
received certification from GTT for an LNG carrier containment system — the
first Indian yard to get it. The licence will be officially given on
December 21 at a function in New Delhi. GTT is a France-based engineering
company that specialises in the design of membrane containment systems for
the maritime transport and storage of LNG. CSL Chairman and Managing
Director Commodore (retd) K Subramaniam told BusinessLine that there are
two proven gas containment systems for LNG carriers — the membrane
technology from GTT, and spherical tanks from Norway-based Moss. About 90
per cent of the ships being built the world over now are based on the GTT
system. CSL had deputed its employees for training at GTT as well as
Korea’s Samsung Heavy Industries, the leading global builders of LNG
carriers.
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Daily News
Capitalizing on the success of Sri Lanka’s the first ever feeder service
linking Sri Lanka with India and Myanmar,the Herbilan Group launched their
second service yesterday. The total investment for the project is US$100
million. Herbilan Shipping Chairman, Herbi Silva said that the first
service was very successful and it was met with high praise especially from
Myanmar. “This service has also opened a new virgin market for Sri Lankan
exporters and we are happy to observe that many are capitalizing on it. At
present there is no dedicated feeder in operation on this route.” Sri Lanka
was also losing considerable amount of transhipment cargo destined to the
Middle East Europe, Africa,the US East Coast and Europe due to non availability
of dedicated feeder connecting Yangon and Colombo. We have come forward to
fill this void as well.” “We are going to help the Colombo Port to increase
the transhipment cargo volumes,” De Silva said.
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Business Standard
Ministry of Finance has recently given in-principle approval for Viability
Gap Funding (VGF) on the proposal of Government of Kerala for development
of a port at Vizhinjam on DBFOT basis. The ground breaking ceremony was
held on 5.12.2015. As per the guidelines issued by Department of Economic
Affairs, Ministry of Finance, for Financial support to Public Private
Partnerships in infrastructure under VGF Scheme", the criteria for
sanctioning VGF is given below:- (i) The project shall be implemented i.e.
developed, financed, constructed, maintained and operated for the project
Term by a private Sector Company to be selected by the Government or a
statutory entity through a process of open competitive bidding. (ii) The
project should provide a service against payment of a pre-determined tariff
or user charge. (iii) The concerned Government/statutory entity should
certify, with reasons. that the tariff/user charge cannot be increased to
eliminate or reduce the viability gap of the PPP; that the Project Term
cannot be increased for reducing the viability gap; and...
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IIFL
With a view to simplify the statutory provisions in the shipping sector,
the Centre is in the process of revamping archaic acts and will introduce
the same in Parliament in next six months, Rajive Kumar, secretary,
shipping ministry said at an ASSOCHAM event held in New Delhi today. “We
are relooking at most of our acts some of which are more than 100 years old
and we expect that in the next 6 months we should be able to revamp and
introduce in the Parliament all the major acts which this ministry is
concerned with, be it the major ports act, merchant shipping act, doing
away with damp and so on,” said Kumar while inaugurating 5th International
Summit on ‘Infrastructure Finance-Bridging the gap,’ organised by The
Associated Chambers of Commerce and Industry of India (ASSOCHAM). He
informed that National Perspective Plan (NPP) for government’s ambitious
Sagarmala project is likely to be ready by about end of next month.
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The Echo of India
MohdJamshed has taken over as Member Traffic and ex Officio Secretary to
Govt of India, Ministry of Railways. Prior to his promotion as Member
Traffic, he was General Manager Northeast Frontier Railways and has held
several important assignments in the Ministry of Railways and on Northern,
Eastern and Central Railways including- GM Northeast Frontier Railways,
Additional Member Railway Board, Chief Operations Manager, Chief Vigilance
Officer, Chief Safety Officer, Divisional Railway Manager, and Executive
Director Railway Board. Mr Jamshed during his tenure as GM NF Railways is
credited with opening of Lumding –Silchar BG line for Passennger traffic
and restoration of Section on Darjeeling Himalayan Railway closed for
years. During his posting as Additional Member Rly Board, he was made
Chairman of the Committee on Traffic Optimisation set up by Mr Suresh
Prabhu,Minister for Railways.
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Seatrade Maritime
After months of speculation, rumours of the merger of China’s twin giant
shipping conglomerates have finally been laid to rest. China’s powerful
State Council officially announced last week that it has given the go-ahead
for Cosco Group and China Shipping Group (CSC) to merge. A share trading
halt was called on 10 August on the listed units of both Cosco and CSG,
pending news of the possible merger. By then, the likelihood of the merger
can be said to be an almost confirmed deal, as Beijing had also already
asked the two companies to draft a preliminary merger plan within three
months starting from August. The trading suspension has since been lifted
after Cosco and CSG both revealed details of their merger, saying that
their container shipping, ports and terminals, leasing and financial
services, tankers, and dry bulk businesses will be grouped into separate
entities. Due to the complexities involved, as the two companies have businesses
in several sectors, their merger is expected to be a challenging and
difficult process, and scheduled to be completed in 2017.
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Tribune India
City-based exporters and the Federation of Indian Exporters Organisation
(FIEO) have urged the government to intervene immediately following a
continuous decline in exports since December 2014. City-based leading dry
fruit importer Balbir Bajaj, who is also the president, Indo-Foreign
Chamber of Commerce, said continuous strengthening of dollar was weakening
the rupee which is putting further stress on buying value in the domestic
markets. He added that recessionary trends were visible as the sale of exotic
materials like dry fruit came down. Reacting to the trade data for the
month of November this year, which has reflected a continuous decline for
the last 12 months in a row, much worse than the decline in exports during
the global slowdown of 2008-09, SC Ralhan, president, FIEO, said the trade
data for November 2015 had come to 20.01 billion dollars with a decline of
24.43 per cent. It was the highest decline in the last few years.
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G Captain
An 18,000 TEU containership will make its first-ever North American debut
with calls at two U.S. west coast ports later this month. French container
shipping company CMA CGM Group announced this week that its new ship, MV
CMA CGM Benjamin Franklin, will make its inaugural U.S. port call at the
port of Los Angeles on December 26th, followed by a call at the port of
Oakland on December 31. It will be the largest containership to ever to
call at any port in the United States, and North America for that matter.
Until now vessels of this size have been deployed exclusively on
Asia-Europe trade routes. Their enormous size and carrying capacity, more
than 18,000 20-foot containers, has earned them a reputation as
‘mega-ships’, or more officially Ultra-Larger Container Ships (ULCSs). CMA
CGM says the Benjamin Franklin will be deployed on the Pearl River Express,
a regular service connecting the main China ports, including Xiamen, Nansha
and Yantian, with Los Angeles and Oakland.
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Times of India
In a major bid to boost the textile sector, the state government has
approved nine new textile parks throughout the state. Of this, two are in
Vidarbha, and the rest in Marathwada and Jalgaon district of north
Maharashtra. Speaking at the Textile Seminar 2015, organized by the
industries department, chief minister Devendra Fadnavis said the state has
identified 10 viable districts on the availability of cotton on the basis
of which the textile parks are being formed. "The industry will always
have a growth potential as demand for garments is never going to die
down," he said. The new parks in Vidarbha include those in Yavatmal
and Buldhana, Sunil Porwal the state's additional chief secretary (textile),
told TOI. The state already has a textile park at Nandgaopeth in Amravati
district. The state has attracted investment to the tune of over Rs40,000
crore in the textile sector during the last 4-5 years. "Now the
Nandgaopeth textile park is considered to be the most promising with a
capacity to attract investment worth Rs10,000 crore," said Porwal.
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