Page 21 - Shipping Industry
A move towards the landlord port?
Of the five container terminals in the JNP, the port itself runs only one. Of the others, one is run by APM Terminals, another by the Singapore Port Authority and two by DP World
 "A move towards the landlord port?")
Global food trade has been upended by a pandemic-driven container crisis
India, the world's second-largest sugar producer, exported only 70,000 metric tons in January, less than a fifth of the volume shipped a year earlier
 "Global food trade has been upended by a pandemic-driven container crisis")
Covid-19: Unemployed supertankers are about to get junked on Asia's beaches
On Wednesday, daily earnings for supertankers sailing on the benchmark Middle East to China route were -$1,190, according to figures from the Baltic Exchange in London
 "Covid-19: Unemployed supertankers are about to get junked on Asia's beaches")
Govt invites bids for sale of its 63.75% stake in Shipping Corporation
Non core assets of the company are being hived off and will not be a part of the sale
 "Govt invites bids for sale of its 63.75% stake in Shipping Corporation")
What happens when business tycoons abandon their giant cargo ships
Covid-19 has wrought havoc everywhere, but in the nominally regulated shipping industry it's fueling a worrying practice: the abandonment of ships, cargo and seafarers with no way to get home
 "What happens when business tycoons abandon their giant cargo ships")
This IITian is turning traditional shipping on its head with automation
Soham Chokshi's Shipsy is disrupting the offline shipping space with its SaaS workflow management platform
 "This IITian is turning traditional shipping on its head with automation")
Amazon's Jeff Bezos called upon to save thousands of stranded seafarers
Industry bodies including the International Chamber of Shipping wrote an open letter urging Bezos to exert pressure on the incoming Biden administration and other leaders
 "Amazon's Jeff Bezos called upon to save thousands of stranded seafarers")
World's biggest shipper A.P. Moller-Maersk remains wary of pandemic
Global demand for containers is expected to contract by 4-5% this year due to Covid-19
 "World's biggest shipper A.P. Moller-Maersk remains wary of pandemic")
Major ports' cargo traffic falls for 7th month in Oct; 12% drop in Apr-Oct
In the wake of the COVID-19 outbreak, sharp declines were witnessed in handling of containers, coal and POL (petroleum, oil and lubricant) among other commodities
 "Major ports' cargo traffic falls for 7th month in Oct; 12% drop in Apr-Oct")
Icra outlook on ports negative for FY21 despite signs of recovery in July
General cargo throughput may witness 6-8% contraction in FY21; container segment decline by 12-15% during same period
 "Icra outlook on ports negative for FY21 despite signs of recovery in July")
Govt relaxes tariffs, port charges for vessels to boost cruise industry
The Ministry said in a statement that it has rationalised tariff rates for cruise vessels plying on the rivers and oceanic waters of India
 "Govt relaxes tariffs, port charges for vessels to boost cruise industry")
Govt taking multiple steps to reduce high logistics cost: Minister
The government has initiated multiple steps to reduce high logistics cost, including strengthening inland waterways, Shipping Minister Mansukh Mandaviya said on Tuesday
 "Govt taking multiple steps to reduce high logistics cost: Minister")
Make in India: Govt invites global vessel owners to register ships in India
Shipping Minister Mansukh Mandaviya has reviewed the readiness of Indian shipping for implementation of the government's Cargo Transportation Policy, the statement said
 "Make in India: Govt invites global vessel owners to register ships in India")
Kolkata Port Trust registers 13 Covid-19 cases, including three staffers
Port has been holding video conferences with unions, discussing steps taken to contain Covid-19
Container vessel idling at 1-yr high as Covid-19 pandemic sinks sailing
The highest sailing cancellation since the Covid-19 outbreak was in February, registering a spike of 105 cancellations across Trans-Pacific, Asia-Europe, and the Mediterranean trades.
 "Container vessel idling at 1-yr high as Covid-19 pandemic sinks sailing")
Post-import expenses excluded for determining Customs value: Expert
The charges for erection and training will not be included in the assessable value of the imported goods
 "Post-import expenses excluded for determining Customs value: Expert")
Lockdown: Metal scrap importers risk losing Rs 80,000 cr to shipping lines
Industry sources said that over 250,000 containers are stranded at Indian ports on account of the complete lockdown enforced to check the spread of Covid-19 pandemic
Hope shipping rules extended to minor ports
Some shipping lines or their agents did not feel bound by the advisories, leading to complaints from the importers and exporters
Recycling units to lose Rs 22,000 cr as demurrage and detention costs soar
Shipping lines and container freight stations ignore official directives calling for a waiver on these charges
 "Recycling units to lose Rs 22,000 cr as demurrage and detention costs soar")
Better to file bill of entry before arrival of vessel, say expert
It is always desirable to file the bill of entry well before arrival of the vessel and get the assessment through