Iran Air confirmed an agreement with Airbus for the acquisition of 118 new airliners (73 widebodies and 45 single aisle).  The agreement for 118 new aircraft, signed by Farhad Parvaresh, Iran Air chairman and chief executive, includes 21 A320ceo family, 24 A320neo family, 27 A330ceo family, 18 A330neo (-900), 16 A350-1000 and 12 A380.

It also includes pilot and maintenance training and support services to help the entry into service and efficient operations of these new aircraft.   "Today’s announcement is the start of re-establishing our civil aviation sector into the envy of the region and along with partners like Airbus we’ll ensure the highest world standards,” said Parvaresh.

The agreement will allow Iran Air state to begin the process of replacing aircraft that in some cases date to before the Islamic Revolution in 1979.  While the new aircraft are passenger, Iran Air current lists two Airbus A300B4Fs operated by its cargo arm plus a mothballed 747 freighter.

It is not clear if it plans further orders that include freighters, an area Boeing is currently considered the industry leader.  The Iranian government has also indicated that it would purchase US-built Boeing planes, although a special waiver from yet to be lifted US sanctions would be required.

Aviation experts estimate that Iran will need around 500 new planes over the next few years. Most Iranian-registered planes have been banned from European Union airspace on safety grounds, while continuing sanctions have in any case greatly diminished the market for air transport.

Besides the two Iran Air freighters, Pouya Cargo Air is reported to have three Ilyushin 76 freighters on its fleet. Mahan Air, the country’s second biggest airline and largest private carrier reportedly has two 747-300 combis in its fleet as well as various passenger Airbus types.  The air cargo sector is poised to capitialise on the removal of sanctions against Iran.

In a research note, Transport Intelligence practice leader Thomas Cullen said that the removal of certain aspects of the Iranian sanction regime had “triggered a flood of business, much of it requiring logistics infrastructure”.   The automotive and oil and gas sectors are expected to boom following the removal of sanctions. 

Although it happened at the height of Christmastide and it might have sailed right by many of us, the largest container ship to ever make port in North America arrived in the Port of Los Angeles in San Pedro, California, on Saturday, Dec. 26, 2015.

      After making its maiden voyage from China, where it was built, the CMA CGM Benjamin Franklin docked before dawn with its cargo. 

      The ship can carry 18,000 twenty-foot equivalent units (TEUs), which is about a third more than the ships that currently dock in the Port of L.A. 

      The Benjamin Franklin measures 1,300 feet long, 177 feet wide, 197 feet tall, and is staffed with a crew of 26. 

      She is longer than the Eiffel Tower is tall.

      The Port of Los Angeles has been modified to dock the vessel, but cannot manage to handle a fully loaded ship at this time.

      Named for one of the Founding Fathers of the United States, the Benjamin Franklin operated its first voyage a bit more than three quarters full.

      Right now she sails while builders and shipping companies keep a weathered eye, figuring bigger is better, especially with the minimum upping of crews needed and the ever-present specter of increased fuel costs.

      So if the thinking is right, investing in mega ships is the right move for companies with long-term vision and deep pockets, as they will save money whilst driving greater profits.

      At least, that is the plan.

      But right now, in addition to infrastructure challenges, there is actually a global capacity glut as USA-China business slows.

      Although there are more than two-dozen of these giant ships built and more on order, there are also idle ships of all sizes everywhere as 2016 lumbers into February.

Geoffrey

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India-Bangladesh joint task force on coastal shipping cooperation to meet in Delhi Economic Times The India-Bangladesh Joint Task Force on coastal shipping cooperation will meet in Dhaka in the first week of March to carry forward bilateral cooperation in the sector. This was stated by visiting Bangladesh Foreign Secretary M Shahidul Haque a day after his talks with his Indian counterpart S Jaishankar and his separate meetings with National Security Advisor Ajit Doval and Special Secretary in Water Resources Ministry Amarjit Singh today. Coastal shipping is a new area identified by the two countries during Indian Prime Minister Narendra Modi's visit to Dhaka in June last year, Haque told reporters here and the forthcoming meeting of the Task Force would take forward bilateral cooperation in the area. The Task Force would identify the Indian and Bangladeshi ports and the sea routes which are to be open for coastal shipping in ferrying goods and passenger services, he said.

Export boosters: can we go beyond tax breaks? Live Mint Reports indicate that the commerce ministry wants to exempt exporters in special economic zones (SEZs) from paying taxes. Its concern to revitalize exports, falling for more than a year in a row, is appreciated. But the suggestion is not. If tax breaks ever boosted exports, one has to only look at past causal outcomes: production is diverted to SEZs and government loses revenues. Worse, once fiscal incentives are instituted, there is resistance to withdrawal as interests get entrenched. Gains, if any, are at best limited to improved infrastructure facilities such as better power supply and connectivity. Exporting gains from the 2006 SEZ policy, which gave a 10-year tax break, have remained controversial. Research shows that India’s revealed comparative advantage (or RCA, an index with values below one indicating relative disadvantage of a country in that segment)

Terminal disruption slows growth at India's biggest port JOC Container volume at Jawaharlal Nehru Port Trust edged up roughly 1 percent year-over-year in January as India’s biggest, public container handler looks to speed up operations following the end of prolonged industrial unrest at the DP World facility in the harbor. The newest port data obtained by JOC.com shows JNPT handled 377,581 twenty-foot-equivalent units in January, up from 373,131 TEUs in the same month last year, but down 1.7 percent from the prior month, when volume reached 384,205 TEUs. By terminal, APM Terminals-operated Gateway Terminals India contributed 162,474 TEUs, down 8.6 percent from 177,658 TEUs during January 2015. DP World’s Nhava Sheva International Container Terminal, which struggled to maintain normal operations last month due to work slowdowns and blockades staged by some employees over demands tied to wage increases and better working conditions, saw its volume tumble 47 percent year-over-year to 51,019 TEUs.

Exclusive: Shipping Min seeks higher Budget funding B TV With mega port connectivity and inland waterways projects coming up, Shipping Ministry has pitched for higher Budget allocation of Rs 5,543 crore for FY17. Sources told Bloomberg TV India that Shipping Minister Nitin Gadkari has sought a quantum jump in budget funding—Rs 5,543 crore for FY17 as compared with just Rs 932 crore in FY16. “Shipping Ministry is pursuing major projects. Prime Minister’s ambitious Sagarmala project of connecting all the ports is likely to get Rs 1,000 crore as the national perspective plan for Sagarmala is ready,” an official said. The ministry also plans to start multi-modal hubs at Banaras, Sahibganj and Haldia for easy transportation of goods and services. “Shipping ministry will prioritise spending on inland waterways transport as a lot more needs to be explored in this domain," the official said. The Ministry has sought Rs 2,384 crore for developing inland waterways.

India intermodal firm to become NVOCC JOC Container Corporation of India, a state-owned intermodal operator, is set to jump into the shipping game as a non-vessel operating common carrier as part of a wider effort to diversify its business. The expansion into maritime shipping follows on the company’s 2005 entry into the terminal operator business and the company also has its eyes on setting up logistics parks and terminals outside India. Concor has also been providing third-party logistics services like warehousing, refrigerated cargo storage and movement, and air cargo. “We are keen on getting into shipping...as a non-vessel owning common carrier to start with. That is one of our strategic plans,” V Kalyana Rama, Concor’s director of projects and services who has just been named the company's new chairman and managing director, told IHS Fairplay. “We will have slots on ships. Shipping now is not in good shape. We are in the business of transporting containers, so it is either forward or backward integration.”

East Coast Maritime resurgence Part-III Times of India For all those who are still worried about the economy, especially as seen from armchairs in Delhi and Mumbai, may I suggest that they try to join the dots here too, along the sea-coasts of India, especially the East Coast? #1 The current price of crude oil in dollars is almost the same as the average price of crude oil over the last 30 to 50 years. #2 Container and dry bulk shipping are not doing well, over-capacity tipping point meets reduction in cargo tipping point. #3 Tankers, fishing fleets, coastal ships and efficient ports are doing well all over the world. #4 As farm to fork and factory & shop floor to frequent shopper gets shorter in range and distance, commerce becomes more efficient. #5 There are efficient new ports in India springing up literally overnight and taking business from their older neighbours. #6 More and more major ports are being headed by people from Indian Railways who know the subject of fast evacuation of cargo very well.

Sitharaman discusses growth strategy with export bodies Business Line Exporters from various sectors such as pharmaceuticals, textiles, chemicals, engineering goods, farm products and marine products discussed their specific problems and ways of boosting exports in a meeting with Nirmala Sitharaman, Minister for Commerce and Industry, on Tuesday. Sitharaman said her Ministry will work with various departments including environment, textiles, external affairs and finance to boost exports and also address tax related issues. The 12 export promotion councils (EPCs) attending the meeting also raised the issue of the impact of India-Asean free trade agreement on the country’s exports. Commerce Secretary Rita Teaotia said that the Centre had already started a review of the FTA. The Centre will also look into the likely impact of GST on exports, she said. The Minister asked representatives of the EPCs to inform the Ministry about “what is not happening and what should ideally happen,” an official release said.

Cochin Port Trust to help evictees affected by projects The Hindu Cochin Port Trust will allot 60-square metre plots on the eastern side of National Highway 47C on lease for a period of 10 years to people, who had been evicted for the connectivity projects for the International Container Transshipment Terminal project. The evictees are the ones who had parted with their land for the connectivity projects and they can use the leased land for directly running bunks and shops. This is a measure of rehabilitation for the people affected by the projects, said Port Trust sources on Tuesday. A total of 67 plots, having approximate size of 5 m X 12 m each, have been earmarked in nine blocks on the eastern side of the National Highway between Bolghatty Junction and the new police station building on Mulavukad island for the purpose. The total extent of the 67 plots identified to be leased comes to approximately an acre.

Like Adani Ports, says Prakash Diwan Money Control Prakash Diwan of prakashdiwan.in told CNBC-TV18, "There is a whole change in environment for the shipping companies and port companies and that has gone quietly unnoticed. I like Adani Ports because it has currently three terminals operating out of Mundra. Container Terminal (CT) is operated by DP World, Container Terminal II is operated by the company itself and CT III is a 50:50 joint venture (JV) between the company and MSE. MSE is a second largest shipping line in the world." "Now they are setting up Container Terminal IV which is also a JV with CBG, it is a consortium. Of course it will take some time, June 2016 is when it is likely to get commissioned. All put together, right now the capacity is 4 billion TEUs and it could go up to about 6.6 once this expansion happens." "Currently, FY'15 utilisation has been about 2.7 million out of the capacity and maybe FY'16 probably will end up being about 3 million.

Ease of doing business: Commerce min to approach other ministries Financial Express The commerce ministry will soon approach various ministries to further improve the ease of doing businesses and the competitiveness of exporters, as it desperately seeks to find ways to boost exports that have contracted for a 13th straight month through December. After a meeting with a dozen-odd export promotion councils (EPCs) that last over two hours, commerce minister Nirmala Sitharaman said: “We will follow up with ministries of environment, textiles and finance as well as customs authorities for easing out few more things related to export promotion so that there is an ease of doing business from the exporters point of view.” Issues such as the impact of India-Asean free trade agreement on the country’s exports, non-tariff barriers in other countries, currency volatility, special economic zones, services tax and problems in dealing with customs officials were flagged by the councils, apart from various incentives sought by them.

New U.S. rule a blow to Indian pharma exporters The Hindu In a move that will further inflate prices of drugs in the United States — already a burning issue in the current presidential campaign — the U.S. government has made it mandatory for Active Pharmaceutical Ingredients (APIs) to be manufactured locally. At present, nearly 80 per cent of drug raw material requirement is met by India or China. The decision has already sent Indian pharmaceutical exporters into a tizzy, as it will significantly impact Indian drug exports. Before the new norms came into effect, U.S.-based companies were allowed to procure APIs from countries like India and China, make the fixed formulations (final product) in the U.S. and sell the drugs to the U.S. government. Pharmexcil has approached the Commerce Ministry, requesting authorities to intervene and resolve the issue. The issue comes at a time when Indian API exports have been slowing down.

PM Modi assures Tirupur exporters of action on trade deals with EU, Australia, Canada Economic Times PM Narendra Modi, meeting entrepreneurs from Coimbatore just ahead of a public meeting there, assured them of action on Free Trade Agreement with the European Union. The FTA is a long-standing demand from Tirupur garments makers in their stated target to double their export in three years. Nearly 35% of total ready-made garment exported From India valued $8.56 billion in first six months of 2015-15, went to the EU. "Our main competitor is Bangladesh, which is enjoying a duty-free market status in the EU. We are confident we can dent the market share of Bangladesh if the FTA with EU can be achieved, considering we have many factories with a compliance orientation at our end," A Sakthivel, President of Tirupur Exporters' Association. Sakthivel added that Modi had told them that talks with German Chancellor Angela Merkel had been initiated on all prospective trade-related tie-ups and that he will make sure "the government does the needful.

ABS and Cosco sign cooperation agreement on Arctic routes Seatrade Maritime ABS and China Ocean Shipping Company (Cosco) have signed an agreement to cooperate on trans-Arctic voyages through the Northeast passage. The agreement includes development of specialised ice-class vessel types able to navigate the arctic sea route, under a cooperative initiative on Arctic Shipping Technology Development. Use of the Northern Sea Route, which has become navigable for shipping between July and November thanks to climate change and melting sea ice, allows a reduction of nearly 4,000 miles of voyage distance between Asian and European ports. “ABS is excited to work with Cosco to develop this pioneering trading route,” said Eric Kleess, president and coo of ABS Greater China Division, at the signing ceremony in Shanghai.

CMA CGM signs vessel sharing agreement with Iran's IRISL Sea News CMA CGM signed preliminary vessel sharing agreement with Iranian shipping company IRISL, reports Maritime News Journal of Varna, Bulgaria. According to the report, the agreement calls for the joint use of vessels, handling services and co-operation in terminals operations. Following the agreement both companies will cooperate with vessel capacity sharing and joint operating of routes to Iran, which will provide more efficient services and better connectivity. IRISL is Iran's largest shipping cargo carrier and was recently removed from the international sanctions list, opening routes and access to world trade markets. The agreement marks the first deal between an international line and IRISL since sanctions were lifted. "The progressive lifting of sanctions should bring strong growth in trade between Iran and the rest of the world. This agreement opens new opportunities for CMA CGM to expand in this region", said CMA CGM in official statement. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com

Shipping Ministry plans to float tenders to develop three greenfield ports Business Line The Shipping Ministry is planning to float tenders by March, for the development of three greenfield ports in the country. Out of the three, it is most positive about Wadhwan port near Mumbai, as it does not require any major land acquisition. It would be developed on 5,000 acres of reclaimed land and serve as a satellite port to the main Jawaharlal Nehru Port. About ₹10,000 crore of investment would require in the first phase. In June 2015, an MoU was signed between Maharashtra Maritime Board and Jawaharlal Nehru Port Trust (JNPT) for the port development. A senior Shipping Ministry official told BusinessLine that along with Wadhwan, Sagar port in West Bengal and Colachel in Tamil Nadu would be developed. Sagar port requires land acquisition but due to the attitude of the State government, the process is expected to be delayed. About 5,000 acres would be also be required for Colachel port, but the site will require more investment in terms of road and rail connectivity, the official said.

New policy to boost port development The Hindu The Maharashtra government is set to announce a new maritime policy for the development of the sector. The cabinet is likely to approve the policy on January 27, said people familiar with the development. The draft policy was submitted to the government some time ago and it has been drafted by the Maharashtra Maritime Board (MMB) with inputs from various stakeholders and experts. A senior MMB officer confirmed to The Hindu that the policy is awaiting Cabinet approval, but declined to share details. Senior government officials said it would be announced by the Chief Minister. On Friday, Chief Minister Devendra Fadnavis tweeted: “We will soon declare a comprehensive policy for development of ports.” The maritime policy once approved will supersede all previous policies The new policy envisages a proactive role for the MMB in the entire project life cycle. The MMB will be the nodal agency for all approvals concerning the development of the port and related infrastructure.

Vainganga to get first inland water transport project: Gadkari Times of India Vainganga river in Bhandara district would be the first to get inland water transport project when the legislation for inland water transport is passed by the Parliament, announced union minister for road transport, highways and shipping, Nitin Gadkari, on Saturday. Gadkari laid foundation stone of two flyovers in Lakhani and Sakoli on NH-6. "The central government has designed a policy for inland water transport. It will soon take shape and will be implemented. It will start from Vainganga river. Vehicles that can ply on both land and water, hovercraft and other vehicles will be pressed into service. Bramhputra, Ganga, Yamuna rivers too have been shortlisted for inland water transport," said Gadkari. Stating that organic farming is the need of the hour, Gadkari said government has decided to give 1,500 per MT subsidy to municipal council, municipal corporations and gram panchayats for preparing organic manure from solid waste.

Exempt VAT on Bunker Fuel New Indian Express The Centre has requested the State Government to exempt VAT on bunker fuel used by Indian Flag vessels operating along the coast and inland waterways. In a letter to Chief Minister Naveen Patnaik, Union Shipping Minister Nitin Gadkari has said such a step will boost coastal shipping. Maintaining that the Shipping Ministry is actively considering various measures to promote shift of cargo to coastal shipping to decongest roads and railway lines, Gadkari is understood to have impressed the Chief Minister about the urgency to exempt VAT on bunker fuel. Union Shipping Ministry Secretary Rajive Kumar has also written a letter to Chief Secretary AP Padhi in this regard. After getting the Centre’s request, the Finance Department has started examining the proposal.

Gulf Petrochem bullish on regional oil market Khaleej Times Gulf Petrochem Group, a leading player in the oil industry, has announced details of its expansion of Fujairah terminal ahead of its EPC tender expected to go out to market early next week with the project set to start in April 2016. The Gulf Petrochem Fujairah Terminal is strategically located and connects to Port of Fujairah's common matrix manifold and able to handle various vessels. It currently has a storage capacity of 412,000 cbm with 17 tanks ranging from 13,000 cbm up to 40,000 cbm, handling Class III petroleum products such as fuel oil and gas oil to name a few with 348,000 cbm dedicated to fuel oil across ten tanks. Following the expansion, earmarked for completion in March 2017, the group will increase its storage capabilities by 243,280 cbm bringing total capacity at its Fujairah terminal to 655,280, across tanks with a capacity ranging from 9,000 cbm and 37,699 cbm. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com

Our good show prompts rivals to spread rumours: VPT official The Hindu Improvement in efficiency parameters on the recommendation of Boston Consulting Group by Visakhapatnam Port Chairman M.T. Krishna Babu and his team has reportedly led to spreading of rumours by rivals on shutdown of operations during the International Fleet Review from February 4 to 8. Beating the global slowdown, the port had improved its performance in the last quarter increasing the total cargo handled to 42 million tonne. Going by the trend, it is likely to either cross or come close to last year’s 58 million tonne. While refusing to name their rival, Visakhapatnam Port Deputy Chairman P.L. Haranadh told The Hindu that there was no truth in rumours that they would suspend their operations to facilitate smooth holding of IFR. “There is no connection between the two – IFR and port operations,” he said pointing out that they would only stop POL tanker handling near naval jetty for just two days.

Gold Star Line to enhance its Asia-West Africa Service Sea News Gold Star Line is pleased to announce an upgraded and enhanced Far East-West Africa Service (FAX) from February 2016. Two direct sailings per week, offering improved transit times from more ports of loading in Asia to more ports in West Africa are the key advantages of this improved service. The FAX, or Far East-West Africa Express, deploying 11 vessels, will rotate through Shanghai, Ningbo, Hong Kong, Guangzhou-Nansha, Singapore, Port Kelang, Colombo, Lagos (Apapa), Tincan (TICT), Tincan (P&CHS), Tema, Cotonou, Abidjan, Singapore and back to Shanghai. FA2, or the Asia, West Africa Service operating 12 vessels will rotate through Shanghai, Ningbo, Xiamen, Fuzhou, Shenzhen-Shekou, Guangzhou-Nansha, Singapore, Lome, Lagos-Tincan, Lagos-TICT, Tema, Abidjan, Colombo, Port Kelang, Singapore and back to Shanghai. The new service lineup will add Xiamen and Shekou to the ports of loading and Abidjan and Lome in West Africa

Despite containerization, breakbulk carriers still in natural rubber game JOC Breakbulk shipping has retained a share of the market for U.S. imports of natural rubber, despite a global trend toward use of containers to transport the essential but damage-sensitive industrial commodity. Containers have become the preferred transportation mode for many shippers in markets including China, which imports more than a third of the world’s approximately 12 million tons of natural rubber production, and the U.S., which has about a 10 percent share. Annual U.S. containerized imports of natural rubber ranged from 21,655 to 23,086 20-foot-equivalent units a year since 2010. Savannah, Virginia and Charleston each had about one-fourth last year’s 21,865-TEU volume, according to PIERS, a sister company of JOC.com within IHS. New York-New Jersey and Baltimore handled most of the rest. Breakbulk shipments of natural rubber to the U.S. are dominated by New Orleans and Morehead City, North Carolina.

Industry calls for clarification of box weight rules on national level Sea News There is still confusion among terminal operators and shippers on how individual countries will enforce the new International Maritime Organisation (IMO) rules, effective July 1, that require shippers to provide the verified gross mass (VGM) of containers before loading. The Brussels-based Federation of European Private Port Operators (FEPORT) said there is still a need for "clarity on implementation" of SOLAS container weighing rules "at national levels," reported American Shipper. According to FEPORT there is "still a lack of information and harmonisation at national level regarding their implementation," saying there is a need for "national authorities to develop guidelines that protect the efficiency of the logistics chain and do not create competitive distortions between member states." Said FEPORT customs and logistics chief Jasper Nagtegaal: "A lack of national guidelines will ultimately lead to confusion in implementation and will have an adverse impact on operations." Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com

Garment exporters for rule changes Business Standard Nine months after the new foreign trade policy (FTP) was introduced, garment exporters have called for changing key operational mechanisms in the export process. The Apparel Export Promotion Council (AEPC) has asked the textiles ministry to simplify the policy’s authorisation, inspection and classification norms. Among their requests is to withdraw the need for a landing certificate for exported goods, required as proof to claim benefits under the Merchandise Exports from India Scheme (MEIS). Introduced in April 2015, the scheme aims to boost sagging exports, covering tariff lines for 5,012 items that earn duty credits. Exporters have said getting the documents to show proof of landing at the destination country entails cost and delay. AEPC says electronic shipping bills should be sufficient for declaration of intent. While filing the said bills, exporters are required to declare they are claiming rewards under MEIS and to mark ‘Y’ in the reward item box.

Invest heavily in transport, logistics The Daily Star Bangladesh's transport and logistics sectors offer immense opportunities for investors, as the country is found most wanting in the area. Given the country's growth forecasts, there is huge scope for investments in infrastructure, said Salahuddin Kasem Khan, managing director of AK Khan and Company Ltd. Khan's comments came at a discussion on the opportunities for investing in the country's transport, infrastructure and trade logistics at the Bangladesh Investment and Policy Summit. The Board of Investment, the Prime Minister's Office and the Business Initiative Leading Development jointly organised the two-day event at the capital's Radisson Blu Hotel. Khan gave an overview of the transport and logistics challenges facing Bangladesh and laid out a number of opportunities for investment. He said a modern multimodal transport system is a must to improve Bangladesh's competitiveness in the global economy and to increase the access to goods at reasonable prices.

MOL Liner adds ports to existing Asia-West Africa WA1 Service Sea News MOL Liner Ltd has announced the enhancement of its existing Asia West Africa service by adding new ports of call in Asia to West Africa from February 1. The new rotation will add new Malaysia and Sri Lanka calls to MOL's existing WA1 service. It will provide better coverage and direct connections between markets in Malaysia and Sri Lanka to West Africa. The first sailing on the upgraded WA1 service will be on February 1, from Shanghai. MOL will operate five vessels out of total eleven 2,800-TEU ships. The upgraded WA1 service will rotate through Shanghai (Mon/Tue), Ningbo (Tue/Wed), Hong Kong (Fri/Fri), Guangzhou-Nansha (Sat/Sat), Singapore (Wed/Thu), Port Kelang (Thu/Fri), Colombo (Tue/Tue), Lagos-Apapa (Mon/Wed), Lagos-Tincan (Wed/Sun), Tema (Mon/Fri), Cotonou (Sat/Sun), Abidjan (Tue/Tue), Singapore (Mon/Mon) and back to Shanghai (Mon/Tue).

Marine Bunker Exchange: Bunker prices to hover around $25-$28 a barrel Hellenic Shipping News Oil prices are now near 2003 lows on oversupply. Oil Futures have hit their lowest levels since 2003 this week as investors worry that a glut of crude is combining with slowing demand due to economic weakness especially in China. The oil market is still on its way downward. When will the downward trend stop? – When the shale oil producers run out of steam. The oil price level today, which is hurting badly the shale oil drillers in the U.S., but oil price will continue downward, until the a balance has been reached between demand and supply. – The reduction of crude oil that will lead to balance will start from the U.S. when enough shale oil drillers’ gone bankrupt or put their wells on hold. We must not forget the shale oil boom in the U.S. was the start of the oversupply problem. The traditional oil suppliers such as OPEC, Russia and other non-OPEC countries, kept their production level and the oversupply production began in the U.S.

Pharma exports to developed nations become easier as government scraps 'No Objection Certificate' rule Economic Times The Modi government's ease-of-doing business drive is set to benefit India's drug manufacturers, especially companies such as Sun Pharmaceuticals, Wockhardt, Ranbaxy Laboratories, Dr Reddy's Laboratories and Cipla, which export their products to highly regulated developed countries. The government has scrapped the requirement of obtaining a 'No Objection Certificate' from the health ministry for drugs exported to developed countries including the US, Canada, Japan and Australia and the European Union. Clearance of consignments often takes long on account of delays by regulatory agencies in granting approvals. As per the relaxation, the waiver has been given to drugs, medical devices and cosmetics meant for export to developed countries with effect from January 1. "These are highly regulated markets and they do sufficient scrutiny before importing from us. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com

Apples: Chamber welcomes amendment to import policy conditions Business Standard Indian Chamber of Commerce and Industry (ICCI), local chapter, today welcomed the amendment to the import of apples, curtailing restrictions of importing it through only one port in the country. The Director General of Foreign Trade's September 2015 a notification, wherein import of fresh apples was restricted only through Nava Sheva Port in Maharashtra, created lots of problems for fruit merchants all over India, particularly apple merchants, ICCI president D Nandakumar said. He and ICCI Secretary Rajesh B Lund, along with a member of Coimbatore Fruit Merchants' Association had met Minister of State for Commerce and Industry Nirmala Sitharaman when she was here in October last and given a representation on it, In response to this, DGFT had issued another notification on January 12, curtailing the restrictions and allowing apple imports through sea ports and airports in Kolkata, Chennai, Mumbai and Cochin and Land Port and Airport in Delhi, he said.

Mumbai airport unveils cargo mobile app The Hindu GVK Mumbai International Airport Limited (MIAL) along with technology provider Kale Logistics Solutions has introduced Cargo Mobile App as an extension to its air cargo community platform, GMAX to foster better communication and effective dissemination of information among members of the trade. It is India’s first such app, the airport operator said. The app provides important functionalities for the trade, enables end-to-end tracking of shipments, and helps all members of the logistics chain in planning their resources, MIAL said. The GMAX mobile app can be downloaded from Google Play store on all Android mobile devices. The app enables Export General Manifest (EGM) tracking, which can expedite the export incentive realisation process, and provides complete visibility of vehicles/shipment within cargo terminal.

Industry Bodies Launch Measures for Owners Selling Ships for Scrap World Maritime News Shipping companies are being strongly encouraged to use new ‘Transitional Measures for Ship owners Selling Ships for Recycling’ launched by an inter-industry working group led by the International Chamber of Shipping (ICS). According to ICS, the purpose of the new Transitional Measures is to help ship owners ensure to the greatest extent possible that their end of life ships will be recycled at facilities that are compliant with the standards enshrined in the IMO Hong Kong Convention, in advance of the global regime entering into legal force. The Transitional Measures set out detailed advice on the preparation and maintenance of inventories of hazardous materials, as required by the IMO Convention and a separate new EU Regulation which has already entered into force and which has implications for non-EU ships calling at EU ports. The guidelines also address measures which shipping companies are strongly recommended to take now when selling end of life ships for recycling. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com