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Policy & Economy News |
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India's core sector growth rises 4.7% in March, most in five months India working on district-based development model to boost growth & exports, says Suresh Prabhu |
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Business News - The India Boom Factor |
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Indian trade with Gulf region rises significantly in last year Indian pharma exports hit US$ 19.14 bn, report double-digit growth after 3 yrs Amazon India expects e-commerce exports to reach US$ 5 billion by 2023 JBS set to export chicken products to India 451 acres land allotted to companies to set up units under DMIC project in 4 states Basmati exports at a new high on robust Iranian purchases Steel demand in India expected to grow above 7% in 2019, 2020: World Steel Association Cotton import may rise 80% this year Big increase in exports of electronics items, imports also at record high |
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Shipping News |
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Maersk's reefer service helps smoothen infra bottlenecks |
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Logistics News |
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Zomato to launch 20 Hyperpure warehouses in 18 cities by next year CONCOR plans to replace Containers in domestic segment with higher carrying capacity |
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Indian Port News |
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JNPT introduces new Container Terminal Data Centre as part of 'Ease of Doing Business' initiative PSA's Bharat Mumbai receives three new quay cranes Adani Group to invest Rs 57,594 crore (Rs.575.94 billion) to expand Mundra port |
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Policy & Economy News |
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India's core sector growth rises 4.7% in March, most in five months Business Standard:May 01, 2019 Top |
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The core sector of the economy recorded 4.7 per cent growth in March, the highest in five months, with impressive recoveries in the refinery products segment. Cement production, too, improved rapidly last month. With this, the annual core sector growth for FY19 was 4.3 per cent, the same as the previous year. Data released by the Ministry of Commerce and Industry on Tuesday showed that the eight segments - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - witnessed growth recoveries in March after weakening for four-straight months. In February, the core sector growth stood at 2.2 per cent. Refinery products, which command almost 30 per cent of the core sector index, rose by 4.3 per cent in March, breaking a contractionary spell that had gripped the sector since December 2018. Elsewhere in the energy space, lower crude oil prices continued to impact oil production as well as exports of refinery product. Crude oil production went down by 6.2 per cent, the highest margin of contraction in FY19. The sector has seen a contraction every month over the past year. However, natural gas production continued to grow, albeit at a slower pace. In March, the natural gas output rose by 1.4 per cent as against 3.8 per cent in the previous month. However, contributing almost 40 per cent to the country's total industrial production, the output of the core sectors continued to be dragged down by low growth in the crucial sector of electricity, which was up 1.4 per cent in March, marginally better than 1.2 per cent in February. Having the second-largest weightage in the core sector index, growth in the electricity sector had decelerated to 0.8 per cent in January, the slowest in 71 months. Economists had blamed poor growth in coal output for this. "The core segments that have performed erratically on the monthly basis and poorly on the annual basis in FY19 are crude oil, natural gas and fertiliser. The performance of the electricity segment has also been moderate in FY19. In fact, plagued by NPAs, electricity growth has remained subdued since FY15," said Sunil Kumar Sinha, director, Public Finance, and principal economist at India Ratings. However, the coal output has disproportionately risen since January when growth was just 1.7 per cent. The coal production rose by 9.1 per cent in March, up from 7.4 per cent in February. In the infrastructure space, steel output growth 6.7 per cent in March -- the highest in three months -- up from 4.9 per cent in the preceding month. On the other hand, cement production jumped to an 11-month high of 15.7 per cent in March. Finally, fertiliser production growth gained pace in March, rising 4.3 per cent, up from 2.5 per cent in February. Growth in the sector had bounced back in January, registering a 10.5 per cent rise, after three successive months of fall. Higher fertiliser output growth has come over a negative base effect last year. This can be attributed to restocking to an extent as the main demand season for sowing is completed, economists said. |
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India working on district-based development model to boost growth & exports, says Suresh Prabhu Daily Shipping Times: New Delhi May 02 Top |
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Union Minister Suresh Prabhu recently said the Country is working on district-based developmental model to achieve aggregate growth. For this, six districts has been selected in different parts of the Country, Prabhu said while addressing a session here. The Union Minister for Commerce, Industry and Civil Aviation said if the national growth was at six per cent and those of the districts was four per cent, the aggregate growth would be 10 per cent. "All put together, this will result in rise in India's GDP and to complement that, the private sector should bring in investments," Prabhu said. The industry has to bring in investment as service-led growth would not be sustainable, he said adding that the Government is ready with a new industrial policy. "India needs to integrate with the global economy and there is no reason why India's exports volume should not touch USD 540 billion. This will only happen only by integrating with the global trade," Prabhu said. The Minister said the two premier institutes - the IIM Ahmedabad and the NCAER - have been approached to fix the baseline. "The first phase of the project has been completed. The second phase will include industry, services and agriculture," he added. He also called for the restoration of the trade balance with China. India's huge trade deficit with China would have to be corrected and a Chinese Minister has been invited to discuss the issue, Prabhu said. |
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Business News - The India Boom Factor |
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Indian trade with Gulf region rises significantly in last year
Daily Shipping Times: New Delhi May 03 Top |
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India's trade with GCC countries saw robust growth in the past 12 months, with imports from the Gulf countries to India reaching $79.70 billion, almost double the $41.55 billion exports from India to the Gulf region. India's imports from GCC Countries registered 24.37 percent jump during April-March 2019 compared to the same period of FY18, to reach $ 79.70 billion, according to the latest data sourced from Department of Commerce. India's exports to the GCC countries during this period, however, grew at a modest rate of 5.49 percent to touch $41.55 billion. India's widening gap in imports and exports with the GCC market in FY19, also called the West Asian market, is due to the rising import bill of crude oil from Saudi Arabia and the UAE, trade analysts said. Among the GCC countries, UAE accounted for the major chunk of India's exports and imports with $30.08 billion and $29.77 billion respectively in FY19. Significantly, India's imports from UAE have seen a noticeable jump in April-March 2019, registering 36 percent growth, while exports from UAE to India have grown by 6.90 percent in FY19 over the same period of previous fiscal year, according to the official trade data compiled by the Directorate General of Commercial Intelligence and Statistics (DGCIS), an arm of Commerce Ministry. Increased quantum of imports of crude, coupled with the rising crude price has also contributed to a sharp 30 percent jump in India's imports from Saudi Arabia. The Saudi Kingdom is one of the major suppliers of Crude to India. India's trade with Kuwait, however, has seen a negative growth during FY19, with imports from Kuwait falling by 35.3 percent and exports to that country declining by 2,59 percent during this period, according to the DGCIS data. |
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Indian pharma exports hit US$ 19.14 bn, report double-digit growth after 3 yrs
Business Standard:Hyderabad, May 03 Top |
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Pharmaceutical Export Promotion Council (Pharmexcil)'s year-end report has pegged the total pharma exports from India at $19.14 billion for 2018-19 with a growth of 10.72 per cent over $17.28 billion in pharma exports last year. The double-digit growth has returned to pharma exports after three years of flat-to-marginal export growth, driven by formulations exports to North America among other destinations, according to the report. Indian pharma exports registered a double digit growth of 10.17 per cent at $16.89 billion last time in 2015-16. Giving a performance break-up of individual categories within the pharma segment, the Union Commerce Ministry's nodal agency said that the export of drug formulations and biologicals, which grew at 12.13 per cent, alone added close to $1.5 billion to the total pharma export revenues this time around. With a total contribution of $13.56 billion, formulations accounted for 70.87 per cent of the total pharma exports in the year 2018-19, according to data. "India exports only generic formulations and global generics market growth in 2018 calendar year is reported to have grown at just over 5 per cent while India's export of this category is growing 2.2 times faster than the market," Pharmexcil said. Exports of formulations through the year has done well except in the month of December, 2018, and the average exports of formulations during the year has touched $1.14 billion a month, according to the report. The only category of pharmaceuticals that showed a negative growth in exports this time was herbal products, exports of which stood at $299 million as compared to $312 million in the previous year. Bulk drugs and drug intermediates, which is next big category of exports after formulations, grew at 10.48 per cent to reach $3.9 billion as compared to $3.5 billion last year. Export of vaccines and surgical grew 1.31 per cent and 3.19 per cent at $661.93 million and $569.77 million respectively in 2018-19. Quoting the Director General Commercial Intelligence and Statistics (GGCIS) data for the month of February 2019, the pharmaceutical agency maintained that the price erosion was beginning to plateau and recovery in margins was seen in the US. The top 25 export destinations contribute 76.52 per cent of the formulation exports amounting to $10.38 billion. Among these, the US continues to be the largest export destination with over 38.62 per cent of the total generic exports to that country at $5.24 billion. Of the total 1638 market authorisations granted by the US Food and Drug Administration (US FDA) in the year 2018, Indian companies alone got 538 authorisations (product approvals) and many of these products have six or more companies competing. "Indian companies need to file complex generic applications and also of biosimilars to steer away from intense competition and look for higher margins. Biocon has already made a beginning in biosimilars," the report said. |
Amazon India expects e-commerce exports to reach US$ 5 billion by 2023
Business Standard:Bengaluru, May 01 Top |
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Bullish on growth of its 'Global Selling' programme, Amazon India has said it expects e-commerce exports to reach $5 billion by 2023. Amazon rarely gives out any sales projections. However, Amit Agarwal, senior vice-president and country head of Amazon India, said a 56 per cent rise in the number of Indian merchants selling abroad and a billion dollars in e-commerce exports in four years have given the company confidence to come out with this projection. Launched with just a few hundred sellers in May 2015, it now has more than 50,000 Indian exporters in the programme, selling over 140 million products across the globe. "The programme has scaled up extensively since then and has reached a cumulative $1 billion in export sales from India. Over the next five years, 'India to Global' has the potential to become huge and Amazon is confident that the Global Selling event will hit the $5-billion mark by 2023, fueling growth of millions of Indian manufacturers, exporters and small enterprises," Agarwal said. Amazon on Tuesday released the second edition of its annual Export Digest, revealing growth of 56 per cent in the number of global sellers from India in 2018. Amazon's international marketplaces also saw a rise of 55 per cent in the selection of Indian products offered globally. The company said it was working extensively with the government on the initiative and planned to increase the number of sellers exporting going forward. According to Amazon, the company has been working with the government on ease of doing global business. "Earlier, one had to file 14 forms but now it has gone down to three. There used to be a limit on how much value one can ship through courier. It has been increased from Rs 25,000 to Rs 5 lakh (Rs.0.5 million). The subsidy earlier used to be 2 per cent. Now, it is 4 per cent. Post offices are also accepting more international exports. There used to be many complexities. We have removed it," Gopal Pillai, vice-president, seller services of Amazon India, said. Being part of the global selling programme helps sellers take part in various sale events across the world, including Prime Day, Black Friday and Cyber Monday. Amazon's global teams also help sellers understand the demand patterns in various countries. The team also gives guidance on how sellers can improve discoverability of their products on each marketplace. Some of this includes guidance on the type of deals and the kind of advertisements they can run on these platforms. Seller's day out Number of sellers exporting from India via Amazon: 50,000 Top 5 states with most e-commerce exporters: Delhi, Rajasthan, Maharashtra, Gujarat and Uttar Pradesh Most sold categories: Art and crafts, musical instruments, baby products, DVDs, pet products Top 5 cities in the US from where Indian sellers get maximum orders: New York, Los Angeles, Chicago, Brooklyn, Houston. |
JBS set to export chicken products to India
Indiaseatrade News: April 30 Top |
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Brazil-based meat and Poultry Company JBS will start exporting chicken products to India, with the first shipment expected to be sent within a few weeks. JBS, in a statement issued to Reuters, said its Seara subsidiary became the first company in Brazil to be authorized to export chicken products to India. The first shipment will consist of chicken thighs and leg quarters, but JBS did not reveal how much of those products will be sent to India, which is expected to arrive at Jawaharlal Nehru port. JBS is said to be taking full advantage of new opportunities to export chicken to Asian nations, amid the outbreak of African swine fever (ASF) in China and other markets. Economists at the International Poultry Council recently projected that due to the ASF outbreak, poultry is poised to become the world's most consumed meat, and that pork may never recover its leading position. Upon announcing its 2018 financial results in March, JBS Global Chief Financial Officer Guilherme Cavalcanti stated that a strong international demand, particularly from Asia, positively contributed to Seara's product price in international markets. The Seara segment achieved net revenues of BRL17.7 billion (US$4.57 billion) for the fiscal year. JBS, according to the WATTAgNet Top Poultry Companies Database, is the world's largest broiler company, slaughtering an estimated 3.5 billion head of chickens annually. Tyson Foods, headquartered in the United States, is the world's second largest poultry company, slaughtering about 2.03 billion chickens annually. Fellow Brazil based company BRF ranks third among global poultry producers. JBS is also a major producer and beef and pork products, and its footprint in the global pork industry is set to grow, as the company announced it has reached an agreement with Adelle Industria de Alimentos Ltd. To acquire a pork processing plant in Seberi, Brazil. |
451 acres land allotted to companies to set up units under DMIC project in 4 states
The Hindu Business Line: New Delhi, May 03 Top |
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The Centre has allotted 451 acres land to various firms for setting up manufacturing units in four states with an investment commitment of Rs 9,483 crore (Rs.94.83 billion) by companies under the Delhi-Mumbai Industrial Corridor (DMIC) project, an official said. The land has been allotted for manufacturing units in Dholera in Gujarat, Shendra-Bidkin in Maharashtra, Vikram Udyogpuri in Madhya Pradesh and IIGNL in Greater Noida (Uttar Pradesh). These regions are part of the eight industrial zones planned for phase I of the DMIC project. South Korean conglomerate Hyosung Corporation, China-based Haier and Amul have been allotted land to set up units under phase one of the project. "The process of land allotment has been initiated and plots have been allotted. A total of 64 plots have been allotted till date measuring 451.01 acres and an investment of Rs 9,483 crore (Rs.94.83 billion) has been committed by the industry players," a Government official said. The DMIC is a mega-infrastructure project covering an overall length of 1,483 km between Delhi and Mumbai. It aims at developing world class industrial cities along the Delhi-Mumbai Rail Freight Corridor, which can compete with best manufacturing and investment destinations in the world. "As part of phase I of the project, trunk infrastructure development works are in full swing," the official added. DMIC Development Corporation, a special purpose vehicle, was set up by the government for project development, coordination and implementation. DMIC project is being implemented jointly by the Centre and respective state governments. Investment regions have been identified for development across six states -- Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh -- and the national capital. |
Basmati exports at a new high on robust Iranian purchases
The Hindu Business Line: Bengaluru, May 03 Top |
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Shipments of basmati rice, the largest product in the country's farm-export basket, touched a record high in volumes and rupee value terms in 2018-19 on account of aggressive buying by Iran and a weak currency. Volumes grew by about a tenth to over 4.41 million tonnes (mt) over the previous year, while the export value, in rupee terms, grew 22 per cent to touch ?32,806 crore (Rs.328.06 billion). In dollar terms, basmati exports went up by 13 per cent to $4.71 billion - the second highest since 2013-14, when it touched a record $4.88 billion.  AK Gupta, Director, Basmati Export Development Foundation, attributed the record shipments to robust purchases by Iran. "There was some good demand from Iran after a couple of years. Iran purchased over 1.4 million tonnes during the year," Gupta said. Further, a weak rupee helped the growth in basmati shipments to touch a new high in value terms. Basmati accounted for a fourth of India's overall agri-product 2018-19 exports, which grew 7 per cent in rupee value terms to touch ?1.28 lakh crore (Rs.1.28 trillion) from ?1.19 lakh crore (Rs.1.19 trillion) in the previous year. However, in dollar terms, total agri-exports were down 1.15 per cent at $18.38 billion ($18.60 billion). The dip in dollar revenues was mainly on account of a decline in shipments of buffalo meat, non-basmati rice and groundnut, among others. Non-basmati rice struggles Non-basmati rice shipments were hurt by higher pricing. The increase in the minimum support price for paddy during the year impacted the competitiveness of the grain in the world market. As a result, exports registered a 17.52-per cent decline in dollar terms and 11 per cent in rupee terms. The non-basmati volumes dropped around 14 per cent to 7.53 mt (8.81 mt). Sluggish demand from China and the countries in the Far East impacted the shipments of buffalo meat, which dropped to 1.23 mt (1.35 mt). In dollar terms, buffalo meat shipments stood at $3.58 billion ($4.03 billion). Dairy, pulses up Exports of dairy products jumped 76 per cent to 1.80 lakh tonnes (1.02 lakh tonnes) after the Centre announced incentives to ship out the surplus stocks of the skimmed milk powder during the year. In dollar terms, dairy product exports registered 59 per cent surge in growth at $482 million. Similarly, pulses exports grew 59 per cent to exceed 2.85 lt during 2018-19. However, in value terms, shipments were up by only 13.38 per cent on a decline in average prices. Guar gum shipments, too, posted 4.3-per cent growth during the year, while groundnut exports declined on account of poor offtake from buyers such as Vietnam. Shipments of poultry products also registered a growth during the year. In dollar terms, the poultry exports were up 14.54 per cent at $98 million ($86 million). In rupee terms, the poultry exports increased by a fourth to ?687 crore (?552 cr). Though shipments of fresh fruits and vegetables were up in volumes, the value declined by about 4 per cent, primarily on account of dip in per unit pricing. |
Steel demand in India expected to grow above 7% in 2019, 2020: World Steel Association
Daily Shipping Times: Brussels May 03 , 2019 Top |
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Steel demand in India is expected to grow above 7 per cent in the current as well as next year, according to the World Steel Association. The global steel body in its report, titled 'Short Range Outlook April 2019', said it forecasts that global steel demand may reach 1,735 million tonne (MT) in 2019, a rise of 1.3 per cent over 2018. In 2020, the demand is projected to grow 1 per cent to 1,752 MT, it said. "In developed economies, steel demand grew by 1.8 per cent in 2018 following a resilient 3.1 per cent growth in 2017. We expect demand to further decelerate to 0.3 per cent in 2019 and 0.7 per cent in 2020, reflecting a deteriorating trade environment," the body said. Steel demand in emerging economies, excluding China, is expected to grow 2.9 per cent and 4.6 per cent in 2019 and 2020, respectively, it said. For India, it said, "The wide range of continuing infrastructure projects is likely to support growth in steel demand above 7 per cent in both 2019 and 2020." In developing economies in Asia, excluding China, the demand is expected to grow by 6.5 per cent and 6.4 per cent in 2019 and 2020, respectively, making it the fastest-growing region in the global steel industry, it added. |
Cotton import may rise 80% this year
Daily Shipping Times: New Delhi May 03 Top |
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India's cotton imports are likely to rise by 80 per cent this crop year (October 2018 to September 2019), due to short supply of quality material for textile mills. Data compiled by apex industry body, Cotton Association of India (CAI), forecasts raw cotton import at 2.7 million bales (one bale equals 170 kg) for the season, compared to 1.5 million the previous year. Another industry body, Confederation of Indian Textile Industry (CITI), has estimated total import at 2.4 million bales. With an estimated 32.1 million bales of output, revised downward by CAI in April from its previous one of 32.8 million, India is the top global producer. Even so, textile mills are importing raw cotton this year, not specialised cotton as in previous years. India imports from America and African Countries, among others. |
Big increase in exports of electronics items, imports also at record high
Daily Shipping Times: New Delhi May 02 Top |
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India's electronics imports touched a record $55.6 billion in FY19, against $51.5 billion a year before, and remained the largest driver of its trade deficit after oil, showed the latest official data. However, what offered policymakers some comfort was that electronics exports jumped as much as 39% to a record $8.9 billion last fiscal, against 12.3% in the previous year. Analysts say two aspects stand out. First, the damaging impact of the October 2014 shutdown of Nokia's manufacturing plant in Tamil Nadu on exports is largely offset now. Second, the nature of imports in the mobile phone segment is changing, and purchases of components from overseas for local assembly/manufacturing are rising at a faster pace than those of completely-built units (CBUs). In fact, telecom instrument imports dropped almost 15% up to February in FY19, against an almost 17% rise in the entire FY18. Telecom instruments made up for a third of overall electronics imports, followed by electronic components (28%), computer hardware and peripherals (16%), electronic instruments (14%) and consumer electronics (9%). |
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Shipping News |
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Maersk's reefer service helps smoothen infra bottlenecks
The Hindu Business Line: Coimbatore, May 02 Top |
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Global integrator of container logistics Maersk has opened up a niche cargo category through its first-mile delivery reefer service (which includes inland transportation via road/rail along with customs clearance and other documentation procedures) to enable seamless trade. The service provider has said in a release that it has delivered "its first-ever shipment of butter" from Bulandshahr, Uttar Pradesh, to Turkey. Currently, this category of cargo is being transported by exporters from their factories directly to the ports and inland container depots (ICDs). Butter exporter VRS Foods said Maersk's offering as a one-stop solution not only facilitated ease of doing business but added more visibility to the supply chain. "The Remote Container Management (RCM) helped us monitor our shipment throughout the transit; we could do this from our factory - Paras Dairy - right from the time of despatch by road through overseas transit (through RCM) as also ensure maintenance of cold chain manually. We were able to get timely updates and were apprised and assured of the quality of service," said Nitin Gupta, Manager (Logistics), VRS Foods. VRS Foods exported six containers of their Paras Dairy Butter. Steve Felder, Managing Director, Maersk - South Asia, said, "India's trade growth lies in hinterlands. Most of the small and medium enterprises and traders often face connectivity issues and infrastructural challenges limiting their scope for growth. Limited cold-chain infrastructure has often resulted in loss of perishable produce. We wanted to address this. Our endeavour with Paras Dairy and VRS Foods, we hope, will instil confidence among exporters about our end-to-end logistics offering." |
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Logistics News |
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Zomato to launch 20 Hyperpure warehouses in 18 cities by next year
Livemint: New Delhi, April 30 Top |
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Online food ordering app Zomato is expanding the reach of its online business-to-business (B2B) food ingredient ordering platform, Hyperpure, to 16 more cities, taking the total to 18 cities including Bengaluru and New Delhi. The restaurant search and discovery app aims to offer more services to restaurants across India over the next two years. Zomato opened its second Hyperpure warehouse on Monday in New Delhi and is set to add 20 more warehouses in India by end-2020 with an estimated investment of ?55 crore (Rs.550 million), said a top company executive. The Gurugram-headquartered firm had acquired Hyperpure (formerly WOTU) in 2018, as a B2B technology platform that lets restaurant owners, caterers, hotels, and other food service businesses order fresh produce, packaged food and poultry, among other products. Since then, Zomato has added two warehouses that act as delivery hubs, first in Bengaluru and now in Delhi-a signal of its intent to dominate the food supply-to-ordering ecosystem, especially as competition from Swiggy intensifies. "For restaurants, Zomato has become a very holistic provider for delivery orders, of customers who want to dine out and, now, as a raw material supplier to them," said Gaurav Gupta, co-founder and chief operating officer, Zomato. The Delhi warehouse gives Hyperpure access to more than 35,000 restaurants listed in the Delhi-NCR area on Zomato. Each warehouse has been set up with an approximate initial investment of $400,000, Gupta said. Currently, Hyperpure services 1,000 restaurants in Bengaluru. With the Delhi warehouse, it hopes to service 3,000 restaurants. Zomato's move to increase investments in such businesses comes even as it looks to rapidly increase its presence across markets. In fiscal year (FY) 2019, it increased its presence in more than 200 cities in India, up from 15 cities in FY18, with more than 100,000 restaurants listed on its platform. Zomato's revenue jumped from $68 million in FY18 to $206 million in FY19, primarily driven by its delivery vertical, according to the company's annual report released earlier in April. The firm has been building businesses inorganically through a clutch of acquisitions, including drone-delivery startup TechEagle Innovations and Bengaluru-based TongueStun Food, an aggregator of caterers and restaurants for office canteens. On future acquisitions, Gupta said: "Some of the gaps we saw last year we've plugged a lot of them...Hyperpure was one of them. The idea is to scale most of them up in the coming year." Analysts who track the sector said that building warehouses could help the company solve the complex logistics and supply chain, especially when it comes to procuring goods from a single source at scale and delivering to restaurants as a single source as well. "This will help them in the broader food ecosystem and also facilitate greater control from farm/procurement to fork," according to Ankur Pahwa, partner and national leader, e-commerce and consumer internet, EY India. "Adjacent areas of operations that build synergies and improve efficiencies are needed to support discounts in the food-tech business. To improve unit economics you have to go deeper into the business and improve infrastructure usage, better client engagement and raise delivery efficiencies. In future, A customer-facing side can also leverage the existing customer base and hyperlocal presence to significant effect." |
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CONCOR plans to replace Containers in domestic segment with higher carrying capacity
Daily Shipping Times: New Delhi May 03 Top |
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Container Corporation of India (Concor) is replacing Containers in the domestic segment with those that can carry almost ten per cent heavier load than its existing lot of containers. The move comes in the backdrop of Concor's domestic business segment registering a sharper growth compared to the export-import segment, albeit on a lower base. The public sector enterprise handled 1.62 lakh (162,000) boxes in the domestic segment in the quarter ended March, registering a 5.45 per cent growth. It also handled 8.16 lakh (816,000) twenty foot boxes in the export-import segment, up 2.46 per cent against the previous fiscal. New containers - which will be owned by Concor - will be able to carry extra load against the older containers. "Gross load of each container will be 34 tonne vis-a-vis existing 30/31 tonne. Also, payload (which the weight of commodities loaded) will be 31 tonne vis a vis 27.5-28 tonne," Pradip K Agrawal, Director-Domestic, Concor. These containers - to be owned by Concor -- are meant for domestic use only, Agrawal added. This will allow loading of "all types of commodities", at a time when more cargo are being containerised. Domestic containers are usually heavier than the export-import containers. Simultaneously, Concor is also procuring newer wagons with higher capacity and convert existing wagons with to those that can handle higher loads. The higher capacity wagons can move 68 tonne payload as against existing 60/61 tonne, according to Mr. Agrawal. Concor, which has announced a flat tariff throughout this fiscal for its all services including freight, handling charges and other charges for all customers, expects to garner newer customers and aditional volume from existing customers, the company's CMD V Kalyana Rama said in the earnings call with analysts. The rate hike was roughly five per cent across-the-board or four per cent of total yearly revenue. Concor registered a profit after tax of Rs.352.31 crore (Rs.3.52 billion) in the quarter ended March 2019, up 20 per cent against the same period last year. The company also registered a total income of Rs.1963.11 crore (Rs.1.96 billion) in the fourth quarter, up almost 15 per cent. The revenue growth was despite a lower-than-expected growth in containers handled (2.46 per cent) in export import segment during the last quarter, which was primarily due to a drop in exports. |
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Indian Port News |
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JNPT introduces new Container Terminal Data Centre as part of 'Ease of Doing Business' initiative Exim News Service - Navi Mumbai, May 2 Top |
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Jawaharlal Nehru Port Trust (JNPT) has inaugurated its new Container Terminal Data Centre at the hands of the Chairman, Mr Sanjay Sethi, IAS, and in the august presence of Mr Neeraj Bansal, IRS, Deputy Chairman, HODs, senior officials and stakeholders of the port. The new Data Centre is equipped with state-of-the-art technical infrastructure and is a significant move towards seamless integration of technology into port operations in order to be a future-ready facility. JNPT is constantly looking at enhancing its operational efficiency to provide quality service and ease of doing business for the ex-im community. Speaking at the inauguration of the Data Centre, Mr Sanjay Sethi said, "It is imperative for ports to integrate new technology trends and automation into their processes to stay relevant and connected in this digitalised global business environment. But the backbone of these automated services is a robust and efficient data system network providing real-time data support and enhancing the operational efficiency. Our new Container Terminal Data Centre will also play the same role in our port modernisation and digitalisation of services, which will not only benefit the ex-im community but also drive our next phase of transformation." The Container Terminal Data Centre houses a new server room equipped with smart racks with in-row cooling system for critical ICT equipment and redundancy built-in. They will also track real-time monitoring of critical data centre parameters, remotely (24x7) through Data Centre Infrastructure Management (DCIM) software. The data centre has an efficient variable refringent flow (VRF) air-conditioning system for the workspace area, which will significantly reduce the carbon foot print. The container tracking data centre is one of the key initiatives underway at JNPT under ease of doing business as an effort towards making it among the top container ports in the world, emphasised a release. |
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PSA's Bharat Mumbai receives three new quay cranes Exim News Service: Navi mumbai, May 1 Top |
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Bharat Mumbai Container Terminals Pvt. Ltd (BMCT), a subsidiary of PSA International Pte Ltd and India's largest container terminal, at JN Port, has welcomed 3 additional Super Post Panamax Quay Cranes on April 18, 2019 increasing its fleet size to 12 quay cranes. With this addition, BMCT will reach the full Phase 1 capacity of 2.4 million TEUs as the new mega cranes will be progressively activated to operations after final commissioning. BMCT has handled more than 520,000 TEUs in the last financial year (2018-2019), a significant achievement for a start-up terminal that has just crossed its first year of operations. Commenting on the arrival, Mr Sivakumar K., General Manager, said, "We are delighted to receive these new cranes, which are equipped with the latest technology and will allow BMCT to handle multiple large container vessels concurrently alongside our 1,000 m berth. BMCT's consistently high productivity and berthing flexibility due to our scale offers customers numerous possibilities to hub and grow their service networks at BMCT. We are grateful for the support of all our customers in a great start up year." Planning of BMCT's Phase 2 is currently underway and will commence construction in the 4th quarter of 2019. The Phase 2 expansion is expected to be operational by end 2022 and will bring the total capacity of BMCT to 4.8 million TEUs with a land area of 200 hectares, said a release. |
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Adani Group to invest Rs 57,594 crore (Rs.575.94 billion) to expand Mundra port India Seatrade News: May 03 Top |
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Adani Ports and Special Economic Zone Ltd (APSEZ) plans to invest as much as Rs 57,594 crore (Rs.575.94 billion) to expand the capacity of India's biggest commercial port it runs at Mundra in Gujarat. APSEZ has applied for environment and coastal regulation zone (CRZ) clearances for raising the capacity of Mundra by 385 million tons (mt). Mundra currently has approval for handling 225 mt. The proposed expansion of Mundra's waterfront development plan (WFDP) includes extending the quay length by another 14,470 metres, augmenting back-up facilities for handling multi-purpose, liquid, gas and cryogenic cargo. It also involves extending the eastern and western breakwater by 500 metres each in the south port and constructing a 5,000 metre-long breakwater on the eastern side of west port.It necessitates dredging of some 350 million cubic metres of sand and other materials from the sea bed. The expansion will be undertaken within the approved area of 5,170 hectares of water front development plan, APSEZ wrote in an application filed with the Expert Appraisal Committee (EAC) of the ministry of environment, forest and climate change. "For the expansion of WFDP plan, it is important to utilize the maximum marine development potential," APSEZ said in the application. "Based on the future cargo projections and business requirement of the hinterland, it is proposed to develop the port with the flexibility to handle various cargoes. Type of berth and type of cargo is a commercial and business requirement. Hence, expansion plan will be developed with those flexibilities to accommodate berths and storage facilities as multi-purpose. The expansion plan will consist of berths at various locations, material handling area, cargo storage area, operational and utility area, internal connectivity, drainage, greenbelt and various utilities, amenities and bunkering facilities," the company said. Mundra is the flagship port of APSEZ, which runs nine ports and terminals on India's eastern and western coasts accounting for 24 per cent of the country's port capacity. APSEZ ports handled a combined cargo of more than 200 mt in the year to March 2019. |
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Corporate Office:
106/107, Technopolis Knowledge Park, Mahakali Caves Road, Chakala, Andheri (E), Mumbai - 400 093, India Tel:+91 22 66775000 Fax:+91 22 66775050 Email:corporate@samsaragroup.com |
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Above information is only indicative and given in good faith. We have collected the above information from various secondary sources. We have tried our best to be as correct as possible. However, we cannot guarantee 100 % accuracy in the above data. Our company / group will not be responsible for any mistakes / inaccuracies which might have crept in inadvertently. |