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Policy & Economy News |
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India's share in Asia-Pacific's GDP rises to 17.3% from 14.6% in 2000 : ADB report India to become a $10-trn economy by 2035: Suresh Prabhu IIP grows at 6.6pc in July as manufacturing, capital goods shine New petchem policy to help make country a net exporter: Secy |
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Business News - The India Boom Factor |
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Exports register impressive growth of 19.21% in Aug Prime Ministers of India and Bangladesh inaugurates two rail projects for cheaper rail link for cargo transportation |
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Shipping News |
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Swire Shipping introduces weekly service from North Asia to South Pacific Tremendous rise in transshipment between May & Aug: Capt. Deepak Tewari |
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Logistics News |
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DPT to develop Waterways in 2 Gujarat Rivers: Mansukh Mandaviya CONCOR Flags-off its first Container train from Sukhpur Rail Terminal |
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Indian Port News |
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Krishnapatnam Port leads South India's transshipment volumes JNPT's productivity performance increases in August Krishnapatnam Port to invest Rs 500 cr (Rs.5 billion) for Liquid Cargo Terminal |
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Policy & Economy News |
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India's share in Asia-Pacific's GDP rises to 17.3% from 14.6% in 2000 : ADB report Daily Shipping Times: New Delhi, Sept 12 Top |
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India's share in the GDP of Asia and Pacific region has increased to 17.3 per cent in 2017 from 14.6 per cent in 2000, a ADB report said recently. As per the ADB's report on 'Key Indicators for Asia and the Pacific 2018', the Asia and Pacific region accounts for more than two-fifths of the share of global GDP in PPP (Purchasing Power Parity) terms. Asia and the Pacific's growing share of global output, which increased from 30.1 per cent to 42.6 per cent during the review period, came at the expense of the global shares of North America, Europe, South America, and the rest of the world, which declined by 6.8, 4.7, 1.3, and 0.3 percentage points, respectively. The report said the three largest economies in Asia and the Pacific - People's Republic of China (PRC), India, and Japan - accounted for more than 70 per cent of the region's GDP at PPP in 2017, up from about 63 per cent in 2000. China accounted for 42.7 per cent of the region's total output at PPP in 2017, compared with 25.1 per cent in 2000. "The next largest regional share of GDP at PPP in 2017 was that of India at 17.3 per cent, up from 14.6 per cent in 2000," said the report of the Asian Development Bank (ADB). Japan was third, with a 10.2 per cent share in 2017, down from 23.1 per cent in 2000 |
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India to become a $10-trn economy by 2035: Suresh Prabhu Exim News Service - New Delhi, Sept. 9 Top |
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The Union Minister for Commerce and Industry and Civil Aviation, Mr Suresh Prabhu, has stressed that India will become a $5-trillion economy in seven years, and certainly a $10-trillion economy by 2035, and that the government has prepared a multi-sectoral strategy for the same. Speaking at an event organised by the US-India Business Council in Mumbai last week, he said that the 8.3 per cent GDP growth in the last quarter is going to be consolidated going forward The Minister proposed that India can set up a Special Economic Zone for US industry which will help make the US-India partnership greater again. He said a new Industrial Policy will be announced soon, with dual focus on modernising existing businesses and getting new and futuristic businesses into the economy. The Minister said that a holistic strategy is being developed to tap the potential of the Indian logistics sector in order to forge better linkages between the Indian manufacturing sector and the global supply chain, informed a release. |
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IIP grows at 6.6pc in July as manufacturing, capital goods shine PTI: New Delhi, Sept 13 Top |
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Industrial production grew at 6.6 per cent in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables. Factory output measured in terms of the Index of Industrial Production had expanded by just 1 per cent in July last year, according to the data released by Central Statistics Office (CSO). The IIP growth for June was also revised downwards to 6.8 per cent from the provisional estimate of 7 per cent released last month, the data showed. The manufacturing sector recorded a 7 per cent growth in July as against a contraction of 0.1 per cent in the same month year ago. The consumer durables sector recorded an impressive growth of 14.4 per cent in July against a dip of 2.4 per cent year ago. Capital goods production grew by 3 per cent in July as against decline of 1.1 per cent year ago. The IIP growth in April-July period was 5.4 per cent compared to 1.7 per cent year ago In terms of industries, 22 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018. The industry group manufacture of furniture' has shown the highest positive growth of 42.7 per cent followed by 30.8 per cent in manufacture of computer, electronics and optical products' and 28.4 per cent in manufacture of tobacco products' On the other hand, the industry group manufacture of paper and paper products' and printing and reproduction of recorded media' have shown the highest negative growth of (-) 2.7 per cent followed by (-) 0.9 per cent in manufacture of machinery and equipment. |
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New petchem policy to help make country a net exporter: Secy PTI: Ahmedabad, Sept 12 Top |
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The Centre is working towards making the country a net exporter of chemicals and petrochemicals and the soon-to-be announced integrated policy for the sector will have the measures to fill in this gap, chemicals and petrochemicals secretary P Raghavendra Rao said Tuesday. Currently the country imports fertilizers and chemicals worth over Rs 3 trillion and while exports are worth around Rs 2 trillion, leaving a gap of around Rs 1 trillion annually, Rao said "We want to see a scenario, may be in the next 10 years, not only to bridge this gap but also to become a net exporter of fertilizers and chemicals," Rao told and industry event orgainsed by Ficci here. The share of chemicals and petrochemical sector is 15 -16 per cent in the manufacturing sector and we would like to take it to 25 per cent, Rao added. On the draft integrated policy for the sector, he said "our latest thinking is that, based on the inputs from various sources, we need to come up with an integrated policy for both chemicals and petrochemicals sector. Our attempt should be to announce the policy in this financial year. We may also try to bring it earlier." Rao admitted that all the four PCPIRs (petroleum, chemicals and petrochemicals investment regions) are facing "lots of issues in terms of infrastructure, new investment, incentives and feedstock". These four PCPIRs are located in Gujarat, Andhra, Odisha and Tamil Nadu. |
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Business News - The India Boom Factor |
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Exports register impressive growth of 19.21% in Aug
Daily Shipping Times: New Delhi, Sept 14 Top |
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India's exports grew by 19.21 per cent to $27.84 billion in August on account of healthy performance by sectors such as petroleum etc. "Export trade during August 2018 recorded at $27.84 billion, a positive growth of 19.21 per cent. Exports excluding Petroleum also reported a positive growth of 17.43 per cent," Commerce and Industry Minister Suresh Prabhu said in a tweet. Merchandise imports too rose by 25.41 per cent in August to $45.24 billion due to the rising crude oil prices, leaving a trade deficit of $17.4 billion. In July, trade deficit soared to a near five-year high of $18.02 billion. During April-August this fiscal, the exports recorded a growth of 16.13 per cent, while the imports during the first five months of this fiscal grew by 17.34 per cent. |
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Prime Ministers of India and Bangladesh inaugurates two rail projects for cheaper rail link for cargo transportation
Daily Shipping Times: New Delhi/Dhaka, Sept 14 Top |
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The Prime Ministers of Bangladesh and India recently, via a video conference, marked the start of the construction on two rail projects, increasing hope that trade between the two countries will soon be transported via the fastest, most cost-effective mode possible Of the two rail projects, the Kulaura-Shahbazpur section rehabilitation of the Bangladesh Railway will restore the rail link between Bangladesh and India, as a part of the Trans-Asian Railway Network. The other project, the Akhaura-Agartala rail link, will connect Northeastern Indian States with Bangladesh, creating a more-durable line for cargo transport. This 10-kilometer, dual-gauge project will cost $30 million, with funding stemming from Indian grants to Bangladesh. Data show that goods transport by train is substantially cheaper and quicker for shippers. Truck transport from Chittagong to Dhaka takes 10 to 16 hours and costs $200 to $300; train transport takes 10.5 to 12 hours and costs $150 to $260. Further, Bangladesh container cargo transport by train has been increasing, amid the improving rail network. In fiscal 2017-2018, Bangladesh Railway transported nearly 75,000 TEU of goods to and from Dhaka and Chittagong, up from 60,000 TEU in 2013-2014 Trade between the two totalled about $8 billion in 2018, with at least half of that total transported via the Country's prime seaport, Chittagong. The remainder was transported by trucks, shortsea (coastal) vessels, and trains. In her remarks, Bangladesh's Prime Minister Sheikh Hasina said both countries are working to reopen this pre-1965 rail link, especially for cargo transportation. This 53-kilometer (33-mile), dual-gauge project will cost $485 million, $69.5 million of which will be an Indian line of credit. The remainder will come from the Bangladesh Government Further, once the rail lines are constructed, India will be able to send container cargo to seven Northeastern States - Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland, and Tripura - from Kolkata and other States, via traversing Bangladesh territory Currently, Indian trucks have to travel about 1,650 kilometers to transport goods from Kolkata to the landlocked Northeastern Indian States. However, if Indian goods use Bangladesh's territory, the more-direct route reduces the time/distance travel substantially. That reduced transport expense for the cross-border route is why India is extending loans and grants for these projects. Bangladesh Railway is also undertaking several projects to facilitate trade, including inland container depots near the capital and other industrial hubs. On April 3, Bangladesh and India conducted a 30-car freight train trial run from Kolkata to Dhaka and this mode was found to be cheaper and quicker as well. Train transport cost $730 per TEU and took a day or two; truck transport cost $800 per TEU and took two weeks or longer, due to congestion at land ports. |
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Shipping News |
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Swire Shipping introduces weekly service from North Asia to South Pacific
Exim News Service - Singapore, Sept. 13 Top |
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Swire Shipping has announced the launch of a market-leading weekly service connecting North Asia and the Pacific Islands in October 2018. Mr Jeremy Sutton, General Manager of Swire Shipping, said: "Swire Shipping remains committed to offering our customers sustainable shipping solutions and being their partner of choice. With the introduction of this weekly service, we will provide better frequency for our customers whilst also improving transit times to the Pacific from China, South Korea and Japan. This new service will also offer increased connections into the Pacific Islands from South-East Asia, North America, Europe, the Middle East, and the Indian Subcontinent." Mr Sutton added that these improvements will bring supply chain efficiencies and speed to market improvements for customers. Doubling frequency With weekly departures to and from all the main Chinese ports via transhipment over Busan and with direct departures from Busan in South Korea and Yokohama in Japan, this will be the market leading service from North Asia into the Pacific. It will also offer connectivity to and from other global destinations via transhipment in Busan, said a release. Highlights * Weekly calls to Port Vila, Nouméa, Lautoka, Suva, Nuku'alofa, Apia and Pago Pago. * Fortnightly calls to Honiara, the Solomon Islands and Papeete, French Polynesia * The northern China port of Tianjin will be offered as a direct link every fortnight and the port of Qingdao every month. |
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Tremendous rise in transshipment between May & Aug: Capt. Deepak Tewari Daily Shipping Times: Mumbai, Sept 10 Top |
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Loaded export-import Containers hauled on foreign flag ships for transshipment at Indian Ports in August exceeded the empties moved on foreign vessels, indicating that the Shipping Ministry's policy shift in May, allowing foreign carriers to ferry these two container segments on local routes, has started yielding results. "Between May and August, there has been a tremendous increase in transshipment around the Indian coast and this will continue to increase as shipping lines start re-adjusting their mainline services to call at certain Indian Ports which are keen to do transshipment," said Capt. Deepak Tewari, Chairman of the Container Shipping Lines Association (CSLA), a lobby group of foreign box lines. Foreign Container Lines In May, Foreign Container Lines carried 618 export-import containers meant for transshipment and 2,965 empties for re-positioning. This increased to 2,318 and 9,271 in June, 4,136 and 12,407 in July and 14,315 and 13,436 in August, according to CSLA. "Shipping lines have actively started talking to the ports - both major and private; they have started restructuring services and are also looking at long-term contracts with these ports for transshipment. We will see that more and more Indian cargo will be transshipped at Indian Ports than earlier," said Tewari, who is also the Managing Director of MSC Agency India Pvt Ltd, which represents Mediterranean Shipping Co S A, the world's No 2 Container Line. Maersk Line has planned an additional 20,000 TEUs of transshipment from the East Coast in the next three months. Besides, one service from the Eastern Coast to the European Union is in the works, according to McKinsey that was hired by the Shipping Ministry to prepare a strategy on transshipment. Till a few years ago, 33 per cent of India's export-import cargo was transshipped at Colombo. "Things have changed... you will see the numbers going up in 2019 when services start stabilising and more transshipment start taking place in Indian Ports," Tewari said. Yet, not all ports are keen on transshipment or ready with basic infrastructure. Other than Chennai, Visakhapatnam and V O Chidambaranar, "other Major Port Trusts have not finalised a policy; they are not looking at transshipment as a revenue model", an industry executive said | ||
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Logistics News |
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DPT to develop Waterways in 2 Gujarat Rivers: Mansukh Mandaviya
Daily Shipping Times: Gandhidham, Sept 11 Top |
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Union Minister Mansukh Mandaviya has said the proposed waterways in Tapi and Narmada rivers in Gujarat will be developed by State-owned Deeandayal Port Trust. "Deendayal Port Trust will invest the money needed for the development and maintenance of waterways in Tapi and Narmada rivers," he said. The Inland Waterways Authority of India (IWAI) has initiated the process to finalise the detailed project reports (DPRs)for the development of waterways in both these rivers, the Minister said. Mandaviya said this after the technical feasibility reports, which said the waterways were technically viable in the two rivers. According to the Minister, sea transport was safer than road transport for movement of goods and passengers. "Development of inland waterways in Tapi and Narmada rivers is cost-effective and environment friendly. It will help reduce the burden on roads, as around 140 truckloads of goods can be accommodated in a single 2,000-tonne vessel," he said. Mandaviya claimed that in the European Countries, 40 per cent goods is transported via waterways, whereas in India it is just five per cent. "Besides that, water transport is cheaper than the other modes," he said. |
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CONCOR Flags-off its first Container train from Sukhpur Rail Terminal
Daily Shipping Times: Ahmedabad, Sept 10 Top |
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Container Corporation of India Ltd. (CONCOR), a Public Sector Undertaking, under the Ministry of Railways, flagged off its first container train with ceramic tiles and other commodities from Morbi-Rajkot region, after its agreement with Shiv Carriers Roadways Pvt Ltd (SCRPL) for exclusive containerized operations at Sukhpur Private Freight Terminal (PFT) near Morbi-Maliya belt on Gandhidham-Viramgam rail network, on 5th September, 2018. The train was flagged-off by Mr. Parsotambhai Sabariya, MLA, Dhrangadhra, Mr. Brijeshbhai Merja, MLA, Morbi and Mr. Dinesh Kumar, Divisional Railway Manager, Ahmedabad Division at 5:30 pm. The train left for Shalimar, Kolkata with 90 containers loaded with ceramic tiles and other goods from the region. Mr. Parsotambhai said that this facility is a great opportunity for the businessmen of Halvad and Maliya area. Mr.Brijeshbhai Merja said that as this facility is next to Morbi area, it will benefit the Ceramic / Tiles industries through easier logistical solutions. Mr. Pranai Prabhakar, CGM, CONCOR mentioned that CONCOR will initially run services to various destinations such as Shalimar(Kolkata), Kanpur, Patna, Amingaon (Gauhati, Assam), Bangalore, Hyderabad, etc. at attractive rates. Mr. Prabhakar added that this is the 80th Terminal of CONCOR's operations in the country. The facility will strategically help the trade to reduce its first leg road connectivity cost and will provide a huge advantage by economical rail movement. This terminal will consolidate road based piecemeal traffic and move them by rail at one go. Loading of containers for other destinations will be started as per the demand of the trade/ industry of the region. Mr. Brijeshbhai Merja, MLA-Morbi District mentioned that Morib Tiles/ceramic industries will be benefited by easy rail transport facility from Sukhpur. He also mentioned that the approach road connecting this Rail Terminal shall be developed under Mukya Mantri Gram Sadak Yojna to facilitate the movement between Industries and Sukhpur Rail Terminal. Mr. Dinesh Kumar, Divisional Railway Manager, Ahmedabad, mentioned that the Domestic Container services from Sukhpur presents a cost-effective opportunity at the doorstep of the trade and business of the area. Ceramic industry in Morbi and Salt industry in Maliya area will be the prime beneficiaries of this CONCOR-SCRPL pact. Mr. Avdhesh Chaudhary, Managing Director of SCRPL conveyed vote of thanks to Railway Officers, MLAs, CONCOR and Sukhpur Village Sarpanch and those who supported for development of Sukhpur Rail Terminal. Sukhpur Rail terminal is approximately 50 kms from Morbi and 40 kms from Maliya. The terminal is spread over an area of over 1.5 lakh square meters, has state of the art infrastructure like; concrete paved yard measuring 15,000 sq. meter for Container stacking & handling along with 2 full length rail lines, modern container and cargo handling equipment, huge transport fleet, administrative and user buildings, round the clock CCTV surveillance etc. |
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Indian Port News |
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Krishnapatnam Port leads South India's transshipment volumes
Daily Shipping Times: Hyderabad, Sept 14 Top |
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Container movement to/from South India is on the upswing, thanks to the economy's robust GDP growth - estimated at 8.2 percent in the April-to-June quarter. A new JOC market analysis shows, Krishnapatnam Port - a privately operated, alternative minor gateway - continues to lead transshipment freight handling in the region. The study found that South India container trade in the first eight months of 2018 totalled 2.94 million TEU - an impressive 10 percent increase from the 2.67 million TEU from the same period in 2017. Of that, transshipment freight represented 164,892 TEU, with Krishnapatnam handling 125,348 TEU, or 75 percent of the total South India transshipment trade during the eight-month period. Market share by Port By market share, the Chennai Port - India's largest East Coast Major Port- suffered a 2 percent drop, to 37 percent from 39 percent during January-August 2017. However, despite that transshipment surge, Krishnapatnam's overall share of the South Indian trade remained flat, at 11 percent. On the other hand, the Kattupalli Port - an Adani Group-owned facility located 16 miles North of Chennai - has steadily increased its market share, with its January-August share rising to 13 percent from 10 percent a year ago. Other ports in the region registered little change in their respective market shares, except for Visakhapatnam, where that number improved to 10 percent from 9 percent during January-August 2017. Further, the analysis suggests - and industry leaders generally agree - that the intensifying fight between Krishnapatnam and Kattupalli for market share will further cut into volume moving through Chennai terminals. Besides benefiting from shippers' concerns over Chennai's long-running productivity issues, due to truck congestion and yard equipment shortages, a deregulated pricing regime offers these minor, private operators a distinct competitive edge over their public peers, whose service rates are governed by the Tariff Authority for Major Ports. Krishnapatnam in expansive upgrade program As that market supremacy battle heats up, Krishnapatnam has embarked on an all-round, expansive upgrade program to boost its operating capabilities and productivity rates. In recent months those measures have included new yard crane deployments; speedier customs examination methods via advanced X-ray machines and a "drive-through-container-scanning" service; and an electronic, self-sealing program for factory-stuffed export shipments. In addition, Krishnapatnam is expected to draw more volume on the back of India's new liberalized cabotage rules, under which foreign-flag ship operators can transport laden export-import containers for transshipment and empty containers for repositioning between domestic ports without any specific permission or license from local authorities |
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JNPT's productivity performance increases in August
Daily Shipping Times: Navi Mumbai, Sept 12 Top |
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Achieves new rail handling volumes Jawaharlal Nehru Port Trust (JNPT) - India's busiest public Container handler - achieved a new rail volume high and processed ships at a faster pace during August. JNPT's intermodal lifts increased 2 percentage points during August to a record 16.8 percent share, up from 14.7 percent during July. By volume, August railed export-import containers totalled 69,978 TEU, out of 417,360 TEU handled at the port during the month, according to JOC statistics. As a result, the over-the-road cargo share decreased to 82.5 percent in August, from 85 percent in July, or down to 344,407 TEU, from 363,311 TEU during July. Ship Turn time The New JOC data highlight a steady, substantial improvement in JNPT's quayside productivity, thanks to wider adoption of digital solutions and greater stakeholder coordination, as average turn-time for a container ship call there in August decreased to 28.56 hours, from 35.52 hours a year earlier. In addition, average crane rates increased to 35 moves per hour, from 33 moves per hour during August 2017, when measured in TEU liftings. Individually, BMCT was almost able to match the average crane rate reported by established top performer APM Terminals' Gateway Terminals India, with those metrics estimated at 42.59 moves per hour and 42.82 moves per hour, respectively. DP World's Nhava Sheva (India) Gateway Terminal also substantially improved its crane rate, to 41.98 moves per hour, from 38.38 moves per hour during August 2017. JNPT handles the majority of India's container trade and, hence, the Government is keen on achieving speedier freight movement through terminals there. |
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Krishnapatnam Port to invest Rs 500 cr (Rs.5 billion) for Liquid Cargo Terminal
Daily Shipping Times: Hyderabad, Sept 11 Top |
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Andhra Pradesh-based Krishnapatnam Port is looking to invest Rs 500 crore (Rs.5 billion) over the next 18 months for setting up a liquid cargo terminal and expanding container handling capacity, a top official has said. The port is witnessing an increase in capacity utilisations across the bulk and container segment, which is leading to firming up of new plans. "We will invest Rs 500 crore (Rs.5 billion) over the next 12-18 months for creating a liquid cargo terminal and also expand container capacity," its Chief Executive Officer Anil Yendluri said recently. He said the liquid cargo container terminal will handle a host of commodities and it is already in touch with prospective clients. It is aiming to increase the container capacity by 8 lakh standard 20-feet units to 20 lakh TEUs as part of the expansion, he said. The container terminal expansion entails putting up a few equipment and readying the yards to handle more, he said. The port is targeting to close FY19 with 6 lakh TEUs being handled as against 4.80 lakh TEUs in the year-ago period. "The port is targeting to up the overall cargo handling to 60 million tonnes in FY19 from the 45 million tonnes in FY18," he said. The port which was established in 2008 has utilised only 3 kms of an overall 13 kms sea frontage length for building berths and also has a land bank of over 7,000 acres, he said. It is in talks with auto manufacturers to set up a RO-RO terminal, which can handle movement of finished cars on sea. He said newer manufacturers like Kia and Isuzu are setting base in Andhra Pradesh and in close proximity of the port. He claimed that a terminal can be set up in 6-9 months. It is also in talks with gas companies for an LNG terminal, but he declined to quantify the investments or timelines. He said the port would like to invest small in LNG, see how it pans out before ramping up capacity. "It is very bullish in the transshipment segment and is already working with a few liners, who make scheduled stops at the port," he said. Yendluri said a scheme like Udaan in aviation to promote regional connectivity is required for promoting liners to make more calls on Indian Ports. He added the money paid to liners to compensate for loss of business will help reduce reliance on ports like Colombo for transshipment. |
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Disclaimer:
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. |