Jupiter Sea and Air Service Pvt Ltd: UPDATED DAILY SHIPPING NEWS FOR WEDNESDAY APRIL 13, 2016

India keen to develop ports in Africa, Bangladesh, Iran: Nitin Gadkari

Business Standard
Pursuing its pro-active maritime policy, the government has expressed keenness to develop ports for various countries, including Africa, Bangladesh and Iran. "During the recent summit of heads of African nations, Prime Minister Narendra Modi and External Affairs Minister Sushma Swaraj expressed desire that India can join hands with various African nations for building roads and ports. My ministry will take up such works once the responsibility is given to us," Road Transport and Shipping Minister Nitin Gadkari said here on Monday. Talking to journalists at Foreign Correspondents Club here, the minister said the agreement between Bangladesh, Bhutan, India and Nepal to work on mutual infrastructure development and cooperation is unique and has gone down "very well".

Cargo volume growth at ports to remain sluggish, says ICRA

Business Line
Cargo volume growth at Indian ports will remain sluggish in the near term on account of uncertainty associated with some of the cargo categories, including coal and container, according to a report by credit-rating firm ICRA. There is uncertainty in imported coal due to ramp up in domestic coal production and persisting delays in execution of Greenfield power projects. Container movement will be affected due to the relatively weak global environment and exim trade. In the first half of 2015-16, total cargo handled at Indian ports registered a 20-per cent increase to 516 million tonnes (MT) over first half of 2014-15. The growth was pegged down by de-growth in volumes by 1 per cent at non-major ports (under the control of State governments), which had registered a 13-per cent y-o-y growth in volumes, to 471 MT in financial year 2015.

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Government to plug holes in online payment of customs duty to boost exports

Times of India
The government plans to boost exports by plugging loopholes in online payment of customs duty and ensuring round-the-clock customs clearance at ports and airports. This will also help India fulfil its commitments under the World Trade Organisation's Trade Facilitation Agreement, officials said. "We want to reduce transaction costs because exports have been declining. One such way is to streamline existing procedures through better coordination between various agencies...we have to think out of the box," said one of the officials, who did not wish to be named. "We should use the Trade Facilitation Agreement to promote exports," he said. The commerce department plans to extend the timings of customs clearance at ports and airports so as to reduce congestion during peak hours of 2-6 pm."Even though there is 24x7 customs clearance,

U.S. and India Agree Maritime Security Initiatives

Maritime Executive
On Tuesday in New Delhi, U.S. Secretary of Defense Ash Carter met with Indian Prime Minister Narendra Modi and reaffirmed the strategic importance of the U.S.-India defence relationship. Carter shared with the prime minister his views on the unprecedented military-to-military ties between the two countries. He highlighted recent advances in the U.S.-India defence relationship including Tuesday’s agreement in principle on logistics cooperation and a new maritime security dialogue. The leaders agreed that continued collaboration on defence technology including aircraft carrier design and jet engines will open new opportunities for co-development and co-production. The secretary reinforced his view that India, like the United States, seeks to be a net exporter of security, and the two countries will continue to work with other partners to shape a regional security architecture that will allow all to rise and prosper.

Gwadar port to be operational by 2017

The Hindu
A multi-million dollar port being developed by China in Pakistan is set to be at “full operation” by the end of the year, a Chinese official said on Tuesday, part of Beijing’s ambitious economic plans in the region. Gwadar port will see roughly one million tonnes of cargo going through it by 2017, said Zhang Baozhong, chairman of the Chinese public company in charge of the development. Current trade there is “basically nothing”, he told reporters on the sidelines of a seminar about the port’s development on Tuesday. Gwadar, in Balochistan province, forms what officials call the “heart” of the China Pakistan Economic Corridor, a grand $46 billion project giving Beijing greater access to West Asia, Africa and Europe through Pakistan. The port was built in 2007 with technical help from Beijing as well as financial assistance of about $248 million.

Overcapacity warning as MSC moves big ships to 'more robust' Europe-Middle East/India trade

The Loadstar
Having already been obliged to idle two of its flagship 19,000 teu vessels because of weak Asia-North Europe bookings, MSC is cascading some of the 13,000 teu ships from the overcapacity-plagued trade onto its Europe-Mid East-South Asia service where demand is said to remain “comparatively robust”. In an updated analysis of the trade, Drewry said the Geneva-headquartered carrier was leading the way in increasing ship size on the route, noting that it had deployed the 13,102 teu MSC Cristina and MSC Maria Saveria on its Himalaya Express service, operated with Shipping Corporation of India. The rotation of the service is Felixstowe-Hamburg-Antwerp-Le Havre-Gioia Tauro-King Abdullah-Colombo-Nhava Sheva-Mundra-King Abdullah-Gioia Tauro-Felixstowe.In a further boost to capacity, MSC will also add the 11,660 sister ships MSC Luciana and MSC Sola to the service, Drewry added.

Use forex reserves to lower exporters’ credit costs: Commerce Min

The Hindu
The commerce ministry wants the RBI to use a part of Forex reserves to give long-term loans at low interest rate to the Exim Bank of India, which then can on-lend to exporters at lower rates than bank credit. The aim is to help reduce the costs and enhance the competitiveness of exporters at a time of global trade slowdown and weak demand overseas, the ministry has said. A senior government official, wishing not to be identified, said the RBI had initially rejected this proposal. But the commerce ministry then took it up with the finance ministry, which in turn is in discussions with the RBI on the issue, the official said. According to the commerce ministry, a part of India’s foreign exchange (forex) reserve can be used for this purpose as the forex reserve has now increased to a record high of around $360 billion.

India’s trade policy ambivalent, says chief economic advisor

The Hindu
There is ambivalence in India’s trade policy and this is partly due to the disruption and dislocation that trade is causing across the world, Chief Economic Advisor Arvind Subramanian said. “We have had lot of reforms…the barriers have come down significantly, our trade has expanded, but when it comes to trade policy, there is a kind of genuine ambivalence on how rapidly India needs to open up domestically…and to engage internationally whether it is the WTO or the TPP. There is ambivalence within India,” Mr Subramanian said here during a talk on ‘Can India ever become a great power?’ at the think tank Carnegie Endowment for International Peace. This is a problem even in the U.S where presidential candidates are campaigning on anti-trade planks, he said.

Analysis: Chabahar-Gwadar port contest does not end in a tie

Tribune
In an ideal world, India’s partnership with Iran in Chabahar completes its strategic goal of encircling Pakistan, as the port’s development aims to bypass her in Afghanistan. Even Afghanistan’s CEO Abdullah Adbullah shares former Afghan president Hamid Karzai’ ambition of forging deeper ties with Delhi to lessen dependence on Islamabad. Though both countries signed a memorandum of understanding (MoU) on development of the port in May 2014, there is little to report about progress on the ground. As per the MoU, the Chabahar port will be used to ship crude oil and urea. India aspires to set up a multi-purpose cargo and container terminal besides petrochemical and fertilizer plants. Last year, India allocated mere $150 million for work on the Iranian port situated 72km west of Gwadar harbour while core issues, such as land allocation for its special economic zone (SEZ), face teething problems.

Expect More Volatility in Dry Bulk Freight Rates as a Consequence of Structural Shifts in the World Economy, IHS Says

Business Wire
Shipping rates for vessels transporting commodities such as coal, iron ore and grains racked up impressive gains in the first quarter of 2016 after hitting record lows, but the rally could flatten out into the second half as the macroeconomic outlook remains uncertain, the latest forecasts show from IHS Inc. (NYSE: IHS), the leading global source of critical information and insight. Freight rates for large Capesize vessels carrying iron ore along Australia-Far East routes reached $2.99 per tonne in Q1, 2016 and are expected to hover at $3.30 per tonne for the rest of Q2, 2016 after an increase of over 11 percent quarter-on-quarter, while average rates for the Transatlantic Brazil-Far East routes reached $5.8 per tonne in Q1, 2016 and will continue its current upward trend averaging at $8.5 in Q2, 2016 as higher earnings are expected in April and going into May and June.

A portal for Willingdon

Times of India
From being a hub of trade, which once housed an airport and railway station along with the sea port, Willingdon Island currently looks a pale shadow of its former bustling self. But all this may change with the Cochin Port Trust looking to develop it as a tourism hotspot complete with hotels and walkways, an exclusive zone for water sports and a cable car service. The CPT has also plans to develop part of the property into a Special Economic Zone. Recently , Nitin Gadkari, union minister for road, transport & highways and shipping, had revealed plans to develop around 1,300 islands as tourist destinations. The CPT, which is exactly not in the pink of health, is laying its bets on the tourism potential of the huge tranche of land - nearly 863.755 hectares that it owns.

Portable container weighing system for shippers with no access to weighbridges

The Loadstar
UK firm Strainstall has produced a new portable container weighing system for shippers to calculate the verified gross mass of their export containers. The firm, part of shipping services company James Fisher Group, said the system was aimed at shippers with no access to weighbridges and whose gateway ports and terminals do not intend to provide weighing services. Managing director Simon Everett said: “In many countries around the world, ports and terminals are preparing to offer a container weighing service to help shippers comply with the SOLAS requirements. Whilst this is the most cost-effective place to obtain a VGM, some ports are choosing not to offer a service. “We therefore identified a need to develop a simple, quick and cost-effective solution for shippers to be able to comply with this legal requirement where the option to weigh at the port isn’t available.”

Jupiter Sea and Air Service Pvt Ltd

Wednesday 13 April 2016

UPDATED DAILY SHIPPING NEWS FOR WEDNESDAY APRIL 13, 2016