UPDATED DAILY SHIPPING NEWS FOR FRIDAY APRIL 29, 2016

Shipping companies see rise in Baltic Dry Index as a blip Business Standard The rising trend in the Baltic Dry Index, the benchmark for dry bulk freight, has failed to enthuse Indian shipping companies because most see it as a blip that does not reflect the trade situation. The Index is at 690, up 70 per cent month on month and 95 per cent in the last three months. "There is nothing to be excited about. The jump is purely momentary," said an executive with the Shipping Corporation of India. The grain harvest season in South America is the cause for the blip because freight rates from the region to China have improved. "If the index continues to rise, it will reflect in freight rates for domestic shipping companies," said an executive with Essar Shipping. "This could lead to $8,000-10,000 freight per day, which will help companies cover their interest costs," he added. Shipping Corporation of India, Great Eastern Shipping, and Essar Shipping are leaders in the Indian shipping market.

Nitin Gadkari can't stop dreaming of an Indian wonderland First Post It requires amazing gift of the gab or the consummate skills of a conjurer to sell Nitin Gadkari’s idea of India to someone. The Union Transport Minister possesses neither. Yet, he manages it with certain ease. Much before the end of his government’s term in 2019, India will be a changed place in terms of infrastructure, he said during a 50-minute exclusive interview with Firstpost. For instance, he is working on a plan to connect Dehradun with Mansarovar in China by blasting a way through the Himalayas. Similarly, if you have to go to Goa from Mumbai, drive your car onto a Ro-Ro vessel at Bhau Cha Dhakka and drive out at a jetty near Panvel onto the Goa highway near Panvel. In 20 minutes you will be cruising on the highway, he said. Logistics Service Chennai,Logistics service provider in chennai,International Freight Forwarders chennai,Custom Clearance Agents in Chennai,Sea Cargo Agents in Chennai,Logistics Service in Chennai , Checkout http://www.jupiterseaair.com

Narendra Modi asks shipping ministry to build maritime heritage complex in Gujarat Live Mint Fascinated by the rich maritime history of India displayed during the recently concluded Maritime India Summit, Prime Minister Narendra Modi has asked the shipping ministry to build a huge maritime heritage complex at Lothal in Gujarat. A senior official from the Prime Minister office, on condition of anonymity, said, “PM wants to have a huge maritime heritage complex at Lothal which is one of the oldest man-made dockyards in India. The complex is likely to be built in public-private partnership and will also have a huge museum displaying India’s heritage of inland waterways and trade through water route.” The official said that the shipping ministry will form a core group to formalize the concept in the coming days and present it before the Prime Minister.

Hyundai to ship cars to Kolkata, too Business Line In a first for eastern India, car-maker Hyundai is looking to explore the coastal route for movement of vehicles. Talks in this regard have been initiated with the Kolkata Port Trust, its Chairman, MT Krishna Babu, said here on Wednesday. Finalisation of the project is expected over the next two months with 500 vehicles being moved in the first lot. “Discussions are on with a domestic car-maker for movement of 500-odd cars. This is a part of the coastal cargo movement plan of the Centre and it aims to decongest the road network,” he told reporters during a press conference. As of now the vessel, called as roll-on/roll-off, will load cars from Chennai and they will be unloaded either at Haldia Dock or Kolkata Dock. Details of the project, which include the frequency of such shipments and size of the vessel, are still being worked out. Logistics Service Chennai,Logistics service provider in chennai,International Freight Forwarders chennai,Custom Clearance Agents in Chennai,Sea Cargo Agents in Chennai,Logistics Service in Chennai , Checkout http://www.jupiterseaair.com

JNPT shippers urge authorities to step in to improve cargo clearance JOC There appears to be no real relief in sight to the supply chain woes that have long plagued Jawaharlal Nehru Port Trust costing shippers and the trade in general in more ways than one. Customs house brokers in Mumbai are complaining that slow handling of cargo by container freight stations from terminals to their off-site storage yards is causing long delays in the clearance of import freight and that the delays in turn are producing extra demurrage charges that normally could have been avoided. “Shipping lines are calculating free time from the date of berthing of vessels instead of the date of arrival of a complete lot of containers at CFS. This is resulting in lines demanding detention charges even though the containers are not available at their nominated (chosen by the container line) CFS for delivery,” the BBCHAA said in a complaint lodged with customs authorities at JNPT.

Dhamra port kicks off work on expansion Business Standard Adani Group-controlled Dhamra Ports Company Ltd (DPCL) has initiated work on its second phase of expansion, after getting advance possession of 740 acres of land from the Odisha government. The expansion, which is expected to involve an investment in excess of Rs 10,000 crore, would ramp up cargo handling capacity to over 100 million tonne per annum, up from 25 mtpa currently. "We have given advance possession of land to Dhamra Port Company Ltd (DPCL). The land lease agreement is expected to be executed shortly with the port authorities", said an official source. After the expansion, the port will be capable of handling clean cargo, containers, liquid cargo, LNG, containerized cargo and crude oil. Though DPCL had readied its second phase expansion plan, getting land was the key hurdle to go ahead in its plan. Logistics Service Chennai,Logistics service provider in chennai,International Freight Forwarders chennai,Custom Clearance Agents in Chennai,Sea Cargo Agents in Chennai,Logistics Service in Chennai , Checkout http://www.jupiterseaair.com

Quiet first trial of freight corridor Business Standard While the nation was busy celebrating the launch of Gatimaan Express, India's first semi-high speed train a month back, Indian Railways was busy scripting history on a parallel front. The government quietly conducted the trial run of the country's first Dedicated Freight Corridor (DFC) to come up between two districts in rural Bihar. On March 30, Dedicated Freight Corridor Corporation (DFCCIL), the railway ministry's arm implementing the ambitious Rs 82,000-crore DFC project, ran India's first goods train on a freight-specific track. The train carried 5,265 tonne of clinker, a raw material for cement manufacturing, loaded on 58 wagons on the 56-km new stretch between Durgawati and Sasaram, the bastion of late Dalit leader and the first Union labour minister Jagjivan Ram. The trial run brought India a step closer to joining the select club of nations,

Ocean Alliance set to be largest on Asia - Europe and transpacific trades Seatrade Maritime The new Ocean Alliance will have largest capacity share on the east-west trades from Asia to Europe and Asia – North America according to Alphaliner. The new proposed alliance of CMA CGM (including APL), Cosco (including China Shipping Container Line), Evergreen and Orient Overseas Container Line (OOCL) will be the largest alliance on both trades Alphaliner said in its weekly newsletter. Based on April 2017 estimates of capacity on Asia – Europe it would have a 34.5% of total capacity, while 2M comprising Maersk and MSC would have 33.4%, and the remaining lines in a number of different alliances in the trade 32.1% of capacity. On the Asia – North America trade the Ocean Alliance will be the largest single grouping with 38.9% of capacity, 2M has just 15.6%, while the remainder will hold 45.5%.

Kolkata Port Trust lines up projects amounting to Rs 1,256 crore Business Standard Kolkata Port Trust is embarking on seven key projects amounting to Rs 1,256 crore in the current financial year to up its tonnage handling capacity and improve cargo handling capabilities. Of the proposed investment, Rs 370 crore will come from internal accruals while the port will opt for public-private partnerships (PPP) for the remaining Rs 886 crore. Slated for completion in a maximum two-year timeframe, it is setting up two outer riverine terminals with a consolidated capacity of 9.3 MMTPA (million metric tonnes per annum) which will draw in a total capital expenditure of Rs 640 crore while Rs 250 crore will be pumped in developing 5 MMTPA mooring facilities at Sandheads in West Bengal for transhipment of liquid cargo. Another Rs 200 crore will be invested for setting up small-scale LNG storage and distribution terminal among other projects. Logistics Service Chennai,Logistics service provider in chennai,International Freight Forwarders chennai,Custom Clearance Agents in Chennai,Sea Cargo Agents in Chennai,Logistics Service in Chennai , Checkout http://www.jupiterseaair.com

Admiral Feeders launching Jebel Ali - Basra service Seatrade Maritime UAE-based Admiral Feeders is launching a new service connecting Jebel Ali with Al Maqal Port in Basra. The weekly service will launch at the end of April with a 500 teu vessel. It will connect NAWAH Port Management run Port of Basra facility, also known as Al Maqal Port, located in the heart of Basra, with the major transhipment hub of Jebel Ali. “The service will allow the shipping lines using Jebel Ali as transhipment hub to offer a cost effective and competitive frequency to Basra and will offer additional supply chain opportunities to Iraq, which is one of the emerging markets in the region”. Calling at Al Maqal Port avoids over 50 km of haulage from the deepwater port of Umm Qasr, which can handle vessels of up to 4,000 teu. Admiral Feeders serves Umm Qasr – Jebel Ali through a slot agreement.

Restructuring of Hanjin Shipping more challneging than that for Hyundai Merchant Hellenic shipping News Both Hanjin Shipping Co. and Hyundai Merchant Marine Co. (HMM) are in hot water, but they are different from each other in a debt structure. Unlike HMM, Hanjin Shipping has a lot of non-bank debt, which makes it difficult for the main creditor Korea Development Bank (KDB) and other creditor banks to manage the company under a creditor-led restructuring program.Hanjin Shipping’s debt owed to banks amounts to 700 billion won ($608.4 million), just 12.5 percent of total debt of 5.6 trillion won, while HMM borrowed 1.1 trillion won from banks, 23 percent of total debt of 4.8 trillion won. A bond market expert said 75 percent of HMM’s corporate bonds worth 800 billion won sold to the public are held by institutional investors such as Nonghyup, Shinhyup and Saemaul Bank, whereas Hanjin Shipping bonds are held by many individuals, meaning it is difficult for the company to push for debt rescheduling. Logistics Service Chennai,Logistics service provider in chennai,International Freight Forwarders chennai,Custom Clearance Agents in Chennai,Sea Cargo Agents in Chennai,Logistics Service in Chennai , Checkout http://www.jupiterseaair.com