Jupiter Sea and Air Service Pvt Ltd: UPDATED DAILY SHIPPING NEWS FOR TUESDAY APRIL 12, 2016

India keen to develop Pyara port in Bangladesh: Nitin Gadkari

Live Mint
Union shipping minister Nitin Gadkari on Monday said India is keen to develop the Pyara port in Patuakhali district of Bangladesh. The external affairs ministries of both countries have already held a preliminary round of talks in this aspect, Gadkari said. A shipping ministry delegation led by a joint secretary will visit Bangladesh next week to study the site and prepare a detailed project report. Since the government came to power, India has started focusing a lot on the port sector and by 26 May, contracts worth Rs.60,000 crore would be awarded in the shipping and ports sector, Gadkari said. In 2015, Indian ports had handling capacity of 1,500 MTPA. By 2035, the capacity would be doubled with planned government investments, he said. Besides, industrial clusters will be created along the coast and fisheries promoted. He said a Port Rail Connectivity Corp. had been created with the responsibility of connecting industrial hubs to various ports by rail lines.

‘Inefficient ports, outdated systems adding to costs’

Business Line
With India slated to become a major importer of liquid bulk commodities such as biofuels (ethanol and biodiesel), the All India Liquid Bulk Importers and Exporters Association (AILBIEA) has called for modernisation of ports and removal of antiquated policies and systems. Jayyannt Lapsiaa, President, AILBIEA, said high transaction cost due to inadequate and inefficient infrastructure, delays and hassles due to antiquated procedures are the major hurdles that is blocking the country from attaining its full growth potential despite progress on other front. Connectivity is still the soft underbelly of the port sector and efficient infrastructure, combined with quality and expeditious clearance procedures, will help reduce costs and sharpen the competitive edge, he said, addressing the members at a recent event to confer lifetime achievement award on Nadir B Godrej, Managing Director, Godrej Industries.

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

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

Economic Times
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, it has not completely taken off because of lack of coordination between customs and CISF.

India's coastline is 7,500 km, and that's where the focus should be: Keld Pedersen

IIFL
Keld Pedersen, Managing Director of Gujarat Pipavav Port, spoke about the company's endeavours during an interview session with ET Now. The director stated that the government's decision with the shipping segment has resulted in some steps in the right direction and there has been more focus on higher standards. He described it as an interesting environment considering that the global economy is currently volatile. Either way, there is a spill over effect in India. However, the country possesses a lot of potential and the numbers demonstrate some positive growth. The country's coastline is 7,500 km and the country should be placing its focus on the coastline. Since Gujarat Pipavav is a port operator, it will be a significant part of the project. He also spoke about the annual terminal capacity expansion plans where he noted that the expansion phase was almost complete. The Port business had planned to complete the project in the first quarter of the current year.

Gopalpur port resumes full scale ops

Business Standard
After battered by two back to back tropical cyclones, Gopalpur port off Ganjam coast in south Odisha has resumed full scale operations. The port's operations had grounded to a halt after Phailin and Hud Hud struck the port in 2013 and 2014 respectively. The port reopened in December last year for normal commercial transactions. Post its repair, the port has now an enhanced cargo handling capacity and can handle vessels up to 50,000 tonne compared to 15,000 tonne earlier. Within three months of its re-commissioning, the port has handled more than 0.1 million tonne of cargo. Ilmenite, a rare earth mineral and industrial salt constitutes the bulk of the cargo volume. The port caters to industries like Indian Rare Earths Ltd (IREL), Jayashree Chemicals and Indian Farmers Fertiliser Cooperative Ltd (Iffco).

India-Sri Lanka Bridge On Cards: Nitin Gadkari

NDTV
India and Sri Lanka could soon finalise an agreement for building a bridge connecting both the countries, union Road Transport, Highways and Shipping Minister Nitin Gadkari said on Monday. "The project is under consideration, it is under discussion. But nothing has been finalised," Mr Gadkari told journalists at the Foreign Correspondents Club in New Delhi. He said discussions have been held on the issue with Sri Lankan President Maithripala Sirisena and Prime Minister Ranil Wickremasinghe. The Sri Lankan side is also "interested" in the project, he said, adding that even the Asian Development Bank has made a recommendation to that effect. Wickremasinghe said in Colombo on March 23 that no formal talks between India and Sri Lanka have started yet on the project. The issue had figured in Sri Lankan parliament as well.

Maersk Krishnapatnam Service from April 17th

Marine Link
Maersk starts its Krishnapatnam Service from April 17th and Kattupalli on April 19th, 2016. Both these calls are strategic and are aimed at supporting the growth of local businesses in the hinterland covering Andhra Pradesh, Northern Tamil Nadu and Eastern Karnataka. Commenting on this announcement, Mr. Franck Dedenis, Managing Director, Maersk Line (India and Bangladesh Cluster) said, “Our decision to call on these ports reiterates Maersk Line’s commitment in bringing value to our customers. Both these calls will enable us to be closer to our customers. We are here for the long haul and want to grow profitably with the market. These calls will result in faster transit times for our customers in these areas, thus reaching out to a global market place in a cost-effective manner.” These calls to Krishnapatnam and Kattupalli will help Maersk Line leverage port efficiencies and reduced transportation time.

GE Shipping to acquire Japan-built very large gas carrier

Business Line
India’s largest private ship liner Great Eastern Shipping Company Ltd (GE Shipping) today said it has contracted to buy a Japan-built second hand vessel which will be delivered to it in the current quarter. The company now owns a fleet of 32 vessels. “The GE Shipping has contracted to buy a second hand very large gas carrier (1996 built) of about 76,931 cbm. The Japan-built vessel will be delivered to the company in Q1 FY 2016-17,” the company said in a statement. Earlier this month, the company acquired a tanker with 49,700 DWT, built in Korea. The company had contracted to buy the ship in December, 2012. With the inclusion of the Japan-built vessel, the company’s fleet would stand at 33 vessels. It includes 23 tankers (8 crude carriers, 14 product tankers, 1 LPG carrier) and 9 dry bulk carriers (1 capsize, 3 kamsarmax, 5 supremax).

Freight Forwarding Market Conditions: The Asia / Europe trade lane

Hellenic Shipping News
So, what does 2016 hold for the shipping industry? A very challenging outlook would be the best synopsis. 2015 was difficult but carriers were able to take some solace from a positive 1st quarter, coupled with a significant drop in bunker prices. Had this not been the case, then the dismal results for the 4th quarter would have had an even bigger impact on overall operating profits. The starting point for 2016 has not been anywhere near as strong on the key Asia / Europe trade and, as we move towards the end of the 1st quarter, rates on the trade have already dropped to near all-time lows. Even the slight spike in demand for Chinese New Year could do nothing to prevent rates dropping like the proverbial stone. New tonnage being introduced to the market, coupled with a considerable drop in demand ex China, has seen carriers left with no option but to slash rates as they look to attract bookings to fill their new vessels (many of which have capacity in excess of 18,000 TEU.)

Container weight compliance to boost costs for shippers

JOC
Shippers will have to pay more to ship their products around the world when the International Maritime Organization’s new container weight verification requirements take effect on July 1. Under an amendment to the IMO’s Safety of Life at Sea convention approved in 2014, the shipper on the bill of lading has two options to certify the verified gross mass of their containers, but both will incur additional expense. Someone in a shipper’s global supply chain will have to provide to an ocean carrier a verified gross mass for every container in advance of sailing or it won’t get loaded. Whether a shipper chooses to have a container and its contents weighed as a single unit under Method 1 or weighs every item and packaging in the container and adds it to the tare weight of the box stenciled on the door, under Method 2, there will be additional cost, although Method 2 will probably cost less than under Method 1.

Sagarmala will employ 40,000 people: Gadkari

Times of India
The minister of shipping, road transport and highways Nitin Gadkari said that the Union government will launch one of its ambitious projects Sagarmala on April 14 at the hands of Prime Minister Narendra Modi in Mumbai. Speaking after commissioning Indian Coast Guard ship Shoor at Goa Shipyard Limited at Vasco on Monday, Gadkari said that under the ambitious project, the country's 7,500km-long seashore's harbours will be developed. Gadkari said, the project which will have an investment of 400 lakh crore, will provide direct employment to 40,000 people. He said that through the medium of this project, 27 new industrial clusters will come up. The Union minister said that over 450 delegates from 30 countries will participate in the maritime summit beginning April 14 in Mumbai. Gadkari said that under the Sagarmala project, 150 new projects are identified.

Hapag-Lloyd first ocean carrier to ditch GRIs and go FAK in bid to stop falling box rates

The Loadstar
Hapag-Lloyd is to abandon general rate increases (GRIs) and next month will set minimum FAK [freight all kinds] rates for containers on its vessels from Asia to North Europe and the Mediterranean. However, a spokesman for the line said that the move was an internal decision to change the way that it quotes rates to customers, rather than an official reaction to an EC probe into the way carriers publically quote rate levels. Hapag-Lloyd told customers that from 1 May its westbound FAK rates would be $925 per 20ft, $1,750 per 40ft and $1,850 per 40ft high-cube. It said volatility on the Asia-Europe trades had resulted in freight rates falling to “unsustainable levels”, and said the rate restoration was necessary “to avoid service disruptions in the supply chain or services being withdrawn”. Last week, the G6 alliance, of which Hapag-Lloyd is a member, extended the withdrawal of its Loop 6 Asia-North Europe service until July “due to changes in market demand”.

CMA CGM Compromising to Get EU’s Nod on NOL Takeover

World Maritime News
French liner giant CMA CGM submitted on Thursday a filing to the European Commission that is said to contain concessions expected to ensure the antitrust approval of its USD 2.4 billion takeover of Singaporean counterpart Neptune Orient Lines, data on the European Commission website shows. Under the proposal, the French company is expected to withdraw NOL’s APL from competing shipping alliances, Reuters reports citing people familiar with the matter. APL is currently a member of the G6 Alliance, but a notice of termination of APL’s participation in the G6 Alliance is to be issued immediately upon closing of the acquisition. CMA CGM in February revealed its plans to form a new mega alliance with the Chinese shipping company China COSCO, which was linked to APL being pulled out of the G6 Alliance after the approval from antitrust bodies, expected by mid-2016.

Jupiter Sea and Air Service Pvt Ltd

Tuesday 12 April 2016

UPDATED DAILY SHIPPING NEWS FOR TUESDAY APRIL 12, 2016