UPDATED DAILY SHIPPING NEWS FOR TUESDAY MAY 03, 2016

Impressive performance by Vallarpadam ICTT Business Standard DP World today said the International Container Transhipment Terminal at Vallarpadam here, operated by it, has started the Financial Year 2016-17 with a record-breaking container handling performance. The terminal in April 2016, handled more than 40,000 TEU, which is the highest volume handled in a single month in the history of ICTT, and a 29 per cent improvement on the volume handled in April last year, the company said in a release here. The terminal's impressive performance in April came on the heels of a 32 per cent growth in volumes in the first quarter of the current calendar year (January to March 2016). "ICTT has grown steadily so far in the current year, and we are happy that we are moving in the right direction at a very healthy pace," said Jibu Kurien Itty, Chief Executive Officer, DP World Cochin.

Government grants infrastructure status to shipyard industry Times of India The government has granted infrastructure status to the shipyard industry, a move that will help the sectoral players get long-term financing at cheaper rates. A gazette notification issued by department of economic affairs in the ministry of finance last month issued an updated "'Harmonized Master List' of Infrastructure". "The new list incorporates the following change to the notification dated October 13, 2014: Under the category of 'transport' a new sub-sector — shipyards is added," the notification said. The move will benefit private shipyards of L&T, Reliance Defence and Engineering Shipyard and ABG Shipyard. The transport sector now has seven sub-sectors — roads and bridges, ports, shipyards, inland waterways, airport, railway tracksand urban public transport.

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Large cargo of Chinese firecrackers seized at JNPT Times of India A huge import consignment of illegal Chinese firecrackers, worth crores, was seized recently by the customs central intelligence unit at Jawaharlal Nehru Port Trust (JNPT) in Nhava Sheva. The nine containers of the illegal cargo were being smuggled into India via the sea route. The shipment, weighing over 200 tonnes and labelled as 'glassware', was seized by the customs officials last week. This is one of the biggest hauls of imported firecrackers by the department. "When we opened the seized containers, the crackers were found smartly hidden inside, and bogus names and addresses were given. Further inquiry is on to find out who are behind it," said a JNPT official. The seized firecrackers have now been sent to an industrial waste management unit in Taloja, where they will be destroyed as hazardous waste products.

Iran and Oman mark first ever shipping exchange Hellenic Shipping News A consignment of pipes shipped from Oman’s Sohar Port and Freezone (Sohar) was discharged at the Iranian port of Bandar Lingheh for the first time this week, strengthening maritime trade ties between the two countries, Sohar Port & Freezone said in a release. At the same time, a shipment of gypsum bound for Sohar Port was loaded at the port in what is the first official commercial maritime exchange between the two countries. Mahmud Sabiree, director general of ports and shipping affairs at Bandar Lingheh, said that the exchange was the culmination of ongoing talks between Iran and Oman. Around 1,300 metric tonnes of pipes from Sohar Port were discharged during the maiden call with the vessel carrying around 20,000 metric tonnes of gypsum for discharge at Sohar Port on the return voyage.

Hyundai, Hanjin mull alliance options JOC Hanjin Shipping and Hyundai Merchant Marine have confirmed they are in discussions with other container lines on forming alliances when their current alliance agreements expire in 2017, assuming they survive their current liquidity crises. “HMM has already started sharing relevant information with other members to discuss reorganization of the alliance. We are afraid, however, that no details can be made public as of this moment," a spokesperson for HMM said. “Nothing has been decided yet on how the alliance will be reorganized afterwards.” This sentiment was echoed by a Hanjin spokesperson who said, "Hanjin Shipping has been preparing for a new alliance and is in talks with some of the liners. However, we cannot disclose which liners we are talking to."

Asia-N.Europe container freight rates jump 170 pct Hellenic Shipping News Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Spot freight rates on the world’s busiest routes soared as a result of planned rate increases announced earlier in April by the majority of the largest shipping companies. The shipping industry has been battling over-capacity linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009. In the week to Friday, container freight rates increased 138 percent from Asia to ports in the Mediterranean, 18 percent to ports on the U.S. West Coast and 6 percent to ports on the U.S. East Coast. 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