Air Freight News :
E-commerce powers UPS record 2016 revenues.
A US domestic e-commerce boom helped UPS’ last quarter revenues to accelerate by 5.5% across the global supply chain, leading to a full year record revenue result of $61bn for 2016.
The logistics giant saw US domestic fourth quarter revenue climb 6.3% to $10.9bn, “driven by e-commerce” while international export shipments soared 8.4%, led by the Asian and European regions.
David Abney, UPS chairman and chief executive, said: “Revenue and volume growth accelerated for UPS during the holiday season and we provided high service levels for our customers.
“The International segment delivered another extraordinary performance, while the US managed through considerable changes in product mix. Our strategies and initiatives are creating long-term value for both UPS customers and shareowners.”
In a company outlook, UPS chief financial officer Richard Peretz said: “The investments in ORION and automation provided benefits during the quarter.”
Peli Bio Thermal launches new re-useable large volume container.
Passive air cargo container firm Peli Bio Thermal has launched Credo Cargo, a new re-usable passive product that allows entire pallets of temperature sensitive cargo to be loaded.
Speaking on the side lines of the Temperature Controlled Logistics event, director of worldwide marketing Adam Tetz explained that the company already had a re-useable system for larger amounts of cargo – the Credo Xtreme and modular Coolpall Vertos – but this needed to be loaded by hand.
In contrast an entire ISO pallet of cargo can be loaded into Credo Cargo using a pallet truck. In total, the unit has a volume 1856L and covers temperature ranges of 2C to 8C, 15C to 25C and –20C.
Tetz said the container can either be rented or purchased outright and can be re-used between 25 and 50 times.
It offers temperature protection for up to 120 hours and has an easy to use coolant loading system that is flat-pack, modular and stackable.
The units can also be broken down allowing one unit to fit in another to reduce costs on the return leg of a journey.
Rhenus group continues push in South Korea.
Freight forwarder the Rhenus group has opened another office in Busan today following the launch of services in South Korea in November.
The company said it would provide air and seafreight services from the new office, which will also handle project business for the oil and gas industry, provide third-party logistics services and operate domestic services.
“We now have our own branch in the south of the country in addition to the capital Seoul. We can offer our logistics services from here and continue to broaden them. The new business site therefore matches the ongoing expansion of our Asian network,” said Tobias Bartz, the Rhenus Board Member responsible for Asia.
The company said that in addition to trade with Europe, Busan is also an important hub for traffic to Japan and Greater China. It is famous for its ship building industry.
Sea Freight News :
In a bid to strengthen its revenue from coastal cargo, Mumbai Port, the country's largest port, has chalked out a strong marketing strategy to garner a variety of bulk cargoes such as agri products and engineering goods in the coming months. "We are in talks with EEPC (Engineering Export Promotion Council of India) for project cargo and FCI (Food Corporation of India) for various agri products as we aim to further increase our volumes from the growing coastal division," Y A Wanage deputy chairman told Business Standard. Currently, Mumbai Port handles coastal cargo for iron ore, cement, petroleum products and finished steel goods. Over the last two years, finished steel (under break-bulk category) has seen a ten-fold growth in coastal cargo volumes, having jumped to nearly 500,000 tonnes during April-December from a meagre 43,120 tonnes during April-March 2014-15.
The Dollar Business
Post-demonetisation, 12 main ports of the country have recorded a considerable growth in terms of cargo handled in the months of November and December by recording a rise of 11.2% and 12.7%, respectively. “Cargo handled by major ports after demonetisation have shown a growth in comparison to the same period last year,” Minister of State in the Ministry of Road Transport and Highways, Mansukh Lal Mandaviya, told Rajya Sabha in a written response. The Minister said 56.7 million tonnes of cargo was handled by the ports in month of December last year (growth of 12.7%) and registered 54 million tonnes cargo in the month of November (a growth 11.2%). During the April-October 2016period, these ports handled 370 million tonnes of cargo. In FY 2015-16, the major ports in the country had handled 606 million tonnes of cargo compared to Rs.581 million tonnes of cargo in FY 2014-15.
For over a week now India’s maritime agencies have been grappling with a massive oil spill off the coast of Chennai that has created a storm in the national media. On January 28, two vessels, the M.T. BW Maple and M.T. Dawn Kanchipuram collided with each other outside Kamarajar harbor at Ennore, causing a huge quantity of furnace oil to spill into the sea. The focus now is on India’s maritime safety record and why almost ten days after the accident central and state agencies are still struggling to tackle the impact of the polluting oil. The spill is being seen as one of India’s worst ecological disasters ever. As a blanket of toxic sludge envelopes Chennai’s beaches, ecologists are confronted with the prospect of large-scale destruction of sea life and a near-permanent imbalance in the marine ecology of the region.
DP World Limited, the world’s fourth biggest container terminal operator and majority owned by the Dubai government, handled 63.7 million twenty-foot equivalent units or TEUs across its global portfolio of container terminals in the full year of 2016, with gross container volumes growing by 3.2% year-on-year on a reported basis, and 2.2% on a like-for-like basis. In the fourth quarter, gross reported volumes grew by 6.0% year-on-year driven by strong growth in Asia Pacific and Europe. UAE handled 3.7 million TEUs in 4Q 2016 down marginally by 0.7% year-on-year. The Americas and Australia region delivered a broadly stable volume performance during this period. At a consolidated level, the terminals handled 29.2 million TEUs during 2016, a 0.4% improvement in performance on a reported basis and down 1.6% year-on-year on a like-for-like basis.
A container carrying export garments worth Rs 50 lakhs, from Tirupur was claimed to have been driven away by unidentified persons after assaulting the driver, near Chennai, an exporters' body said today. According to Tirupur Exporters' Association(TEA), the culprits had intercepted the container yesterday morning at Perungalathur near Chennai and attacked the driver and drove away. In a release here, they alleged that the driver, who was dumped near Sriperambudur reached Peerkankaranai police station and tried to lodge a complaint. However, he was asked to go to Sriperambudur police station, it said. Stating that the container was yet to be traced, the association demanded safety for the shipments of exporters in future.
Hundreds of workers of Visakhapatnam Port staged a demonstration in front of the administrative building here on Tuesday to protest against tabling of Major Ports Authority Bill in Parliament. In response to a call by CITU-affiliated United Port and Dock Employees' Union, the workers raised slogans against the NDA Government saying the bill would lead to corporatisation of major ports. Union general secretary V.S Padmanabha Raju said the NDA government had introduced the Bill to replace Major Ports Act 1963, to weaken major ports, sell away their valuable properties and corporatise the ports. He said the major ports in the country were in possession of a huge chunk of land admeasuring 73,000 acres. “The adoption of the bill will lead to handing over of the lands to the corporates.
The Indian Railways is building two world-class freight corridors that will transform the way goods are transported along India’s busiest routes. Given India’s energy security issues and escalating concerns about traffic accidents, congestion and the greenhouse gas (GHG) emissions associated with road transport, these efforts will help increase the share of rail transportation in the country. The dedicated freight-only lines are being built along the four key transportation routes – known as the Golden Quadrilateral – which connect Delhi, Mumbai, Chennai and Kolkata. These corridors carry the country's heaviest rail traffic and are highly congested. The World Bank is financing about 1,200 km of the Eastern Dedicated Freight Corridor (Ludhiana - Kolkata) through a series of three projects.
The Belgian Deputy Prime Minister, Alexander De Croo, argued on Monday for strengthened cooperation between the ports of Antwerp and Mumbai. The Minister of Development Cooperation, Digital Agenda, Telecom and Postal Services broached this subject on Monday during a working visit to India. He stated this following a meeting with the Indian Minister for Transport, Nitin Gadkari “There is the scope to strengthen ties between the ports of Antwerp and Mumbai.” Mr De Croo has also taken part in “Antwerp Port Days” taking place in the Indian port city and inaugurated the mutual training centre between the port of Antwerp and the Jawaharlal Nehru Port, the largest container port in India. “We should consider how to fix the agenda (for strengthened cooperation) and it may be necessary to create working groups” per sphere, the Minister added.
The chairman of UAE-based ports operator DP World has forecast steady portfolio growth for 2017, driven mainly by its interests outside the Middle East. Group chairman and CEO Sultan Ahmed Bin Sulayem said in a statement on Tuesday that DP World’s operations in the Netherlands, India, Turkey and the UK are expected to boost portfolio growth over the coming 12 months. He added that the company is on track to meet full-year targets for its 2016 annual results, as it unveiled a 2.2 percent rise in gross container volumes over the period. Bin Sulayem said: “Despite the challenging market conditions, particularly at our flagship Jebel Ali Port, our portfolio continues to deliver ahead-of-market growth, which once again demonstrates the benefits of operating a globally diversified portfolio.
Kannur International Airport, State’s second greenfield airport coming up in public-private partnership mode, is gearing up for commissioning scheduled for September this year. Kannur International Airport Ltd (KIAL), the government company set up to execute the project, is hopeful of completing the works by April-May this year and for commissioning of the fourth international airport of the State by September. Over 90 % of the works on the air-side and 82 % of the works of the integrated terminal building had been completed. “The works are going on as per schedule. One to two months is needed for testing equipment, integration, commissioning and to get mandatory aerodrome licence from the Director General of Civil Aviation (DGCA).
A proposed comprehensive free trade agreement (FTA) between India and Peru covering goods, services and investments may not only raise India’s export volumes to the western South American nation but also the latter’s various preferential trade partners. The share of India’s merchandise exports to Latin America was barely 2.9% of the country’s total goods exports in 2015-16, down from 3.7% in the previous fiscal. The below-potential trade volume is despite the fact that India’s export of goods to the Latin American region grew 10-fold during 2000-09, benefiting from declining transport costs. So with an FTA with Peru, Indian exporters can get easier access to Peru’s preferential markets like Mexico and Argentina with lower import tariffs.
The U.S. trade deficit fell in December as exports hit their highest level in more than 1-1/2 years amid record shipments of technology products, but strengthening domestic demand points to further rises in imports, which could constrain economic growth. The Commerce Department said on Tuesday the trade gap dropped 3.2 percent to $44.3 billion, ending two straight months of increases. The trade deficit rose 0.4 percent to a four-year high of $502.3 billion in 2016. That represented 2.7 percent of gross domestic product, down from 2.8 percent in 2015. When adjusted for inflation, the deficit decreased to $62.3 billion from $63.9 billion in November. President Donald Trump has blamed U.S. trade policy for the loss of American factory jobs and has vowed to make sweeping changes, starting with pulling out of the 12-nation Trans-Pacific Partnership trade pact.
India has sought greater participation from Belgian companies in its maritime sector, including Sagarmala, inland waterways and development of industrial clusters. According to Minister of Road, Transport Highway and Shipping Nitin Gadkari, there is a need for India and Belgium to strengthen their ties in the maritime sector. "There are immense opportunities that exist in India in the areas of coastal shipping, inland water transport, cruise, new port development, smart-port industrial city and development of green ports," Gadkari was quoted as saying in a statement. "There is a need for Belgium to further strengthen the cooperation that already exists between the two countries in the maritime sector." On Monday, the minister met Belgium's Deputy Prime Minister Alexander De Croo over Belgium's potential role in the Indian maritime sector.
Hellenic Shipping News
The Board of Directors (the “Board”) of Samudera Shipping Line Ltd. (the “Company” together with its subsidiaries, the “Group”) wishes to announce that its subsidiary, PT Samudera Shipping Services (“PT SSS”), has completed a sale of the vessel Sinar Jimbaran to Samudera Bharat Feeder Private Ltd (the “Samudera Bharat”). The disposal of Sinar Jimbaran to Samudera Bharat is a non-discloseable transaction pursuant to Chapter 10 of the SGX-ST Listing Manual (the “Listing Manual”). However, when aggregated with other disposals of vessels (collectively the “Vessels Disposal”) by the Group over the last 12 months, it will be a discloseable transaction. The computation of the relative figures in Rule 1006 of the Listing Manual is enclosed in Schedule 1.