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Policy & Economy News |
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India to attract investments worth $80 bn in renewable energy: Report India ER&D market to grow to USD 42 bn by FY22: Report |
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Business News - The India Boom Factor |
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China agrees to increase imports from India Sugar exports to China to begin soon India's thermal coal imports up at a fast pace Prime Minister reaffirms Maritime Cooperation with Asean region |
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Shipping News |
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CMA CGM revamping its CIMEX 2K2 service COSCO SHIPPING Lines to call at PSA's BMCT on CI-1 service |
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Logistics News |
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Sagarmala invests INR 125 cr. (INR 1.2 billion) in Krishnapatnam Railway Co. Railways to open 800-km stretch of DFC this year |
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Indian Port News |
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Visakhapatnam Port facilitating faster cargo evacuation Coastal rice consignment of Food Corporation of India arrives at Cochin Port Major Ports cargo traffic up 5.31% to 403 MT in April-October : IPA Gujarat Maritime Board's Non- Major Port record 16% traffic growth in April-October |
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Policy & Economy News |
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India to attract investments worth $80 bn in renewable energy: Report Business Standard - November 14 Top |
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India's renewable energy space is turning out to be an attractive domain for foreign investors. In total, this sector has drawn $6.84 billion FDI from April 2000 to June 2018. More than $42 billion has been invested in the country's renewable energy sector since 2014, said a report by Indian Brand Equity Foundation (IBEF), after interpreting figures from the Ministry of New & Renewable Energy (MNRE) and Central Electricity Authority (CEA). Over the next four years, the renewable energy sector is projected to attract investments pegged at $80 billion. The country added 11,788 Mw of renewable power in 2017-18. During April-July of this financial year, renewable energy sector witnessed a capacity addition of 1832.26 Mw. Net renewable capacity addition in this financial year is pegged at 8500 Mw. "It is expected that India will overachieve its Paris Agreement goals. Renewable sources are expected to help meet 40 per cent of India's total power need by 2030", the report noted. As a part of its Paris Agreement commitments, the Centre has set an ambitious target of achieving 175 Gw of renewable energy capacity by 2022. The envisaged portfolio includes 100 Gw of solar power installs and 60 Gw wind power installs. Under MNRE's Solar Cities programme, 60 solar cities are proposed to be developed across the country. India receives about 300 days of sunlight in a year and has a large hydropower potential which is being explored in the north-eastern states of the country. The country is ranked fourth in EY Renewable Energy Country Attractive Index 2018. The country accounts for approximately four per cent of the total global electricity generation and contributes 4.43 per cent to the global renewable generation capacity. Installed renewable power generation capacity has increased steadily over the years, posting a compounded annual growth rate (CAGR) of 9.29 per cent over FY 08-18. India added record 11,788 MW of renewable energy capacity in 2017-18. The country ranks fourth in the world in terms of total installed wind power capacity. As of August 2018, India ranks fifth in terms of cumulative installed solar capacity. |
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India ER&D market to grow to USD 42 bn by FY22: Report Press Trust of India - New Delhi, November 16 Top |
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India's engineering and R&D (ER&D) sector is set to grow to USD 42 billion by FY2022, helped by increasing focus on new-age technologies like Internet of Things, big data, artificial intelligence and machine learning, IT industry body Nasscom said Thursday. The global ER&D spends continue to be on an upward trajectory and are projected to touch USD 2 trillion by 2022, as per a report by Nasscom, Strategy& and PWC titled 'Impact of Digital on ER&D'. Of this, 38 per cent is estimated to be contributed by the top 1,000 corporate entities. "There are six major trends that have been identified that are currently driving digital ER&D across multiple sectors globally. These are Internet of Things, Big Data Analytics, Artificial Intelligence & Machine Learning, Cybersecurity, Advanced Robotics, Mobile Applications and Digital Reality," it said. Indian service providers and Global In-house Centres (GICs) are stepping up the value ladder in capturing global opportunities, the report said. Outsourcers have a positive outlook for offshoring ER&D services work from India across verticals, with the overall market in India expected to grow to about USD 42 billion by FY2022, it said. According to information available on a blog on Nasscom's website, engineering R&D (ER&D) segment in India was about USD 24 billion in size in FY2017. The key growth drivers for the industry are going to be India's capabilities in the automotive and construction and heavy engineering (C&HE) market, which is being accentuated by local talent and rising domestic demand, the report added. |
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Business News - The India Boom Factor |
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China agrees to increase imports from India
Exim News Service - New Delhi, Nov. 11 Top |
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According to the Commerce and Industry Minister, Mr Suresh Prabhu, China has agreed to boost its imports from India. "Global disruptions offer a chance to increase Indian exports," Mr Prabhu said at an event organised by the Confederation of Indian Industry (CII). He informed that Chinese authorities will hold a meeting this month specifically with Indian exporters to address their concerns regarding market access and trade regulations. India's trade deficit with China is its widest with any country, with large amounts of electronics and other items flowing across the border from its northern neighbour. The government has confirmed that it is set to boost exports of rice and rapeseed to China to try to narrow this gap, reports said. |
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Sugar exports to China to begin soon
Exim News Service - New Delhi, Nov. 11 Top |
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Export of raw sugar from India to China will begin early next year. A contract for exporting 15,000 tonnes of raw sugar has been entered into by the Indian Sugar Mills Association (ISMA) and COFCO, a government of China-run public sector company, informed a release. This came about due to the initiative taken by the Ministry of Commerce and several rounds of meetings held by officials of both countries, the release said. India plans to export 2 MT of raw sugar to China beginning next year. Raw sugar is the second product, after non-basmati rice, that China will import from India. It is among the steps to reduce the $ 60 billion trade deficit that China has with India. India being the largest producer of sugar in the world is in a position to become a regular and dependable exporter of high quality sugar in significant volumes to China, the release added. |
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India's thermal coal imports up at a fast pace
Exim News Service - New Delhi, Nov. 14 Top |
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According to data of American Fuels & Natural Resources, a Dubai-based trader of coal from the United States which tracks coal shipments around the region, India's thermal coal imports rose at the fastest pace in three-and-a-half years in the September quarter, spurred by new demand and domestic infrastructure bottlenecks that are threatening government plans to cut foreign supplies. The data revealed that imports jumped 35 per cent to 42.7 million tonnes during the three months ended September 30, 2018. This being the fourth straight quarterly increase in coal imports, puts the energy-hungry nation on track for a rise in annual imports after two straight years of decline, reports said. |
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Prime Minister reaffirms Maritime Cooperation with Asean region
Daily Shipping Times - Singapore, November 16 Top |
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Prime Minister Narendra Modi recently reaffirmed India's cooperation in the maritime domain during a India-Association of Southeast Asian Nations (Asean) Breakfast Summit here. "Reaffirmed cooperation in maritime domain and centrality of trade and investment towards prosperity of Indo-Pacific," External Affairs Ministry spokesperson Raveesh Kumar tweeted following the meeting. Under New Delhi's Act East Policy, India has been increasing its engagements with the Asean regional bloc. The Asean comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the Philippines and Vietnam. In January 2018, India hosted the Asean-India Commemorative Summit to celebrate 25 years of dialogue partnership, 15 years of summit-level interaction and five years of strategic partnership. |
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Shipping News |
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CMA CGM revamping its CIMEX 2K2 service
Exim News Service: Marseilles, Nov. 13 Top |
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CMA CGM has announced the revamping of its dedicated CIMEX 2K2 service connecting Asia with India and Pakistan, with especially a call at Karachi SAPT instead of KICT and at Nhava Sheva BMCTinstead of NSICT. It said in a release that through CIMEX 2K2, it is able to provide: * Weekly sailings covering China, Singapore, Malaysia, India, Pakistan * Direct service ex Central China (Shanghai, Ningbo), South China (Shekou / Nansha) to India (Nhava Sheva BMCT) and Pakistan (Karachi SAPT) * New direct connection from Nansha to Karachi SAPT * Access to Pakistan upcountry thanks to its intermodal connectivity via Karachi * Access to India hinterland thanks to its intermodal connectivity via Nhava Sheva Main features of CIMEX 2K2 * Rotation: Shanghai - Ningbo - Shekou - Nansha - Singapore - Port Klang - Nhava Sheva (BMCT) - Karachi (SAPT) - Singapore - Shanghai * Service commencement: November 14, 2018 (ETA Shanghai) with m/v KOTA PEMIMPIN voy. 0VN01W1MA * Transit time references: Shanghai to Nhava Sheva in 18 days | Shanghai to Karachi SAPT in 22 days * With this service linking Asia with India and Pakistan, CMA CGM is providing an enhanced coverage in the region |
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COSCO SHIPPING Lines to call at PSA's BMCT on CI-1 service
Daily Shipping Times -Mumbai, November 14 Top |
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Cosco Shipping Lines appears to have become a key customer for PSA International's new Bharat Mumbai Container Terminals (BMCT) at Jawaharlal Nehru Port Trust (JNPT), as ocean carriers increasingly emphasize cost optimization and scalability in a fiercely competitive market. In addition to being a consortium member in the EPIC2 (Europe-Pakistan-India) service that started regular calls at BMCT in early March, Cosco will shift its Intra-Asia CI-1 (mainland China-India) service to the new terminal, with a major revamp. The CI-1 has thus far been an independent Cosco loop. Under a new vessel-sharing agreement (VSA) between Cosco, APL, and OOCL, the service has been upsized from the current five 4,250-TEU ships to six 9,000-TEU ships. Of these, Cosco will provide four ships and the other two partners will contribute one vessel each. Further, the upgraded service will add new calls at port Klang (Malaysia) and Karachi (Pakistan), replacing Penang (Malaysia) and Pipavav (India). The revised port rotation will be as follows: Shanghai, Ningbo, Shekou, and Nansha, China; Singapore; Port Klang; Nhava Sheva (JNPT), India; Karachi; Singapore and Shanghai. The Kota Pemimpin, voyage 107, will hold the first upgraded CI-1 call at BMCT on Dec. 2. The official also said the service upgrades/rotation changes will cause a blank sailing at JNPT, which has otherwise been slated for Nov. 24. |
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Logistics News |
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Sagarmala invests INR 125 cr. (INR1.2 billion) in Krishnapatnam Railway Co.
Exim News Service: New Delhi, Nov. 13 Top |
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Krishnapatnam Railway Co. Ltd (KRCL) has received an investment of Rs 125 crore (Rs.1.2 billion) from Sagarmala Development Company Ltd for the development of the rail corridor connecting Obulavaripalle and Krishnapatnam Port. Krishnapatnam Railway Co. is a SPV (Special Purpose Vehicle) Joint Venture (JV) by Rail Vikas Nigam Ltd for connecting the 114 km Obulavaripalle (Kadapa district) and Krishnapatnam (Nellore) in Andhra Pradesh. The total project cost is estimated at Rs1,850 crore (Rs.18.5 billion). The initiative will connect Krishnapatnam Port on the east coast with the network of Indian Railways at Venkatachalam at one point, and Obulavaripalle on the other. A 21 km section of the project line from Krishnapatnam to Venkatachalam was fully operation since July 2009 in single line, and was converted to double line from March 2014. Commented Mr Anil Yendluri, Managing Director, Krishnapatnam Railway Co., "This is an extremely exciting project for KRCL. The new rail corridor connecting Kadapa city with Krishnapatnam Port will help optimise costs, accelerate growth whilst enhancing the city's ex-im competitiveness. This would result in huge savings both in freight costs and time to help develop Kadapa into a discrete trading cluster through multimodal logistics solutions." India's hinterland connectivity is mainly based on surface transport, i.e. road and rail. The 114 km long rail corridor is expected to revolutionise the ex-im trade dynamics for the hinterland district of Kadapa. It is well poised to reduce transit time drastically by offering a direct entry into the port. The shareholding pattern in KRCL is RVNL 30 per cent, Krishnapatnam Port Co. Ltd 30 per cent, NMDC Ltd 15 per cent, government of AP 13 per cent and BIL 12 per cent. Under phase II from Obulavaripalle to Venkatachalam (94 km), rail construction work is in full swing. Track linking of the entire length has already been completed. Overhead equipment and signal and telecommunications works are in advanced stage of completion. Sagarmala is an ambitious initiative by the government of India aimed at bringing about real change in India's logistics sector performance by unlocking the full potential of the coastline and waterways. The vision of Sagarmala is to reduce logistics cost for both domestic and ex-im cargo with optimised infrastructure investment. Sagarmala aspires to reduce logistics costs for ex-im and domestic cargo, leading to overall cost savings of Rs 35,000 to Rs 40,000 crore (Rs.350-400 billion) per annum With infusion of new technology and capacity building, the total capacity available at ports can match demands but will not be able to handle additional traffic if the movement to and from the port is restricted. It is, therefore, important that connectivity of major ports with the hinterland is augmented not only to ensure smooth flow of traffic at the present level but also to meet the requirements of projected increase in traffic, said a release. In India, smooth connectivity to ports is even more important as the cargo generating centres are mainly in the hinterland instead of in the coastal region. The long lead distance increases the logistics cost and time variability within which the cargo can be delivered. Under Sagarmala Programme, the endeavour is to provide enhanced connectivity between the ports and the domestic production or consumption centres. Under the initiative more than 210 connectivity projects have been identified for development, said a release. |
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Railways to open 800-km stretch of DFC this year
Daily Shipping Times - New Delhi, November 12 Top |
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Almost 800 km of the Dedicated Freight Corridor (DFC) is all set to open by the end of December, officials in the Railway Ministry said recently. "The railways is all set to open the 200 km Khurja-Bhadan section of the Eastern DFC, both in Uttar Pradesh, by the end of November, while the 300-km stretch of the Western DFC between Rewari (Haryana)-Madar (Rajasthan) would be completed by the end of December," a senior Railway Ministry official said. He said the 143-km section of Bhadan-Bhaupur, both in Uttar Pradesh on the Eastern DFC, would be completed by January 2019 and the 128-km section of Madar-Marwar, both in Rajasthan on the Western DFC, would be commissioned by February 2019. The official further said that the Bhaupur-Mughalsarai section of the Eastern DFC would be completed by August 2019 and the Sonenagar (Bihar)-Mughalsarai (Uttar Pradesh) section of the same stretch would be completed by October 2019. The DFC, once completed, is expected to complement the future of the Indian economy with an increased number of freight trains in eastern and western sectors of the Country. |
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Indian Port News |
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Visakhapatnam Port facilitating faster cargo evacuation
Exim News Service - Visakhapatnam, Nov. 11 Top |
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Given the increasing cargo volume of Visakhapatnam Port, which is strategically located on the centre of the east coast, several measures for the removal of bottlenecks to ensure faster evacuation of cargo have been taken by Visakhapatnam Port Trust (VPT). The port undertook seven connectivity projects at a cost of Rs 274 crore (Rs.2.7 billion), including completed projects of first phase electrification of East Yard at a cost of Rs 20 crore (Rs.200 million), direct connection from Ore Exchange Complex to Western Sector of the port costing Rs 22 crore (Rs.220 million), four-lane port connectivity road by spending Rs 7 crore, and new road at a cost of Rs 24 crore (Rs.240 million). There are other projects too, among them being upgradation of the R&D yard and construction of grade separator to decongest the traffic from National Highway to Convent Junction which is about 4 km away from the container terminal. Besides, an external road would be developed for connectivity from Sheelanagar, Pendurti-Anandapuram Road at a cost of Rs 549 crore (Rs.5.4 billion). To be undertaken by the National Highways Authority of India, it would facilitate seamless container traffic movement from the state highways to the NH 16 connecting Vizag, complemented by a dedicated port corridor which is free from civic traffic. These initiatives are playing a pivotal role in connecting various corridors in the hinterland to the container terminal, with faster cargo evacuation creating room for more business. The port has completed PPP projects with an investment of Rs 1,074 crore (Rs.10.7 billion). Expansion of Visakha Container Terminal is also in place with an extended quay length of 395 m along with augmented equipment to meet the requirements of the envisaged growth at Visakhapatnam, said a release. |
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Coastal rice consignment of Food Corporation of India arrives at Cochin Port
Exim News Service - Kochi, Nov. 12 Top |
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As part of the Sagarmala programme, Cochin Port has been making sustained efforts to promote coastal shipping. This has resulted in yet another positive outcome with the arrival of a consignment of 4,732 tonnes of rice in 182 containers at the port's Vallarpadam ICTT on November 10, 2018 in a containership named SSL Kochi. The consignment was of Food Corporation of India (FCI) for public distribution in Kerala. It was shipped from Kakinada Port and arrived at Cochin Port via Krishnapatnam. Until recently, FCI was bringing rice predominantly by rail. This modal shift to coastal shipping has proved cost-effective for the company, and it is expected that 10,000 tonnes of rice per month will be brought to Kerala from Andhra Pradesh in the coming days. On this occasion, Dr (Ms) M. Beena, IAS, Chairperson of Cochin Port Trust, thanked FCI and the carrier Avana Logistek Ltd for facilitating this movement. She said that efforts are on to bring wheat on account of FCI from Punjab/Haryana to Kerala using coastal shipping, which, besides giving additional volumes to the port, will be cost-effective for the public distribution giant, said a port release. |
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Major Ports cargo traffic up 5.31% to 403 MT in April-October : IPA
Daily Shipping Times - New Delhi, November 13 Top |
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India's 12 Major Ports witnessed a 5.31 per cent rise in cargo traffic at 403.39 million tonnes (MT) during April-October of the current fiscal, the Indian Ports Association (IPA) data showed. These top ports had handled 383.05 MT cargo during the corresponding seven-month period of the last fiscal. The growth in the cargo traffic was mainly attributed to increase in handling of coal, mainly coking coal, containers and petroleum, oil and lubricants (POL). Among the 12 Major Ports, Kamarajar Port (erstwhile Ennore) recorded the highest growth in traffic during the April-October period with an increase of 20.42 per cent, followed by Cochin Port 13 per cent, Paradip Port 11.22 per cent, Kolkata Port (including Haldia) 8.65 per cent and Deendayal Port (erstwhile Kandla Port) 8.46 per cent. Jawaharlal Nehru Port Trust (JNPT) recorded 6.93 per cent growth, Visakhapatnam Port recorded a 5.58 per cent rise in cargo traffic, New Mangalore 3.56 per cent and Chennai 3.11 per cent. However, VO Chidambaranar, and Mormugao have recorded negative growth during the period. In terms of maximum cargo volume, Deendayal Port handled 68.47 MT cargo, followed by Paradip's 62.03 MT and JNPT Port at 40.54 MT. |
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Gujarat Maritime Board's Non- Major Port record 16% traffic growth in April-October
Daily Shipping Times -Ahmedabad, November 16 Top |
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Share of Non-Major Ports traffic increased to 50% Private Ports in Gujarat have reported a healthy growth of 16 per cent in cargo handling for the first seven months ( April-October 2018 ) of the fiscal. At 113 million tonnes of cargo handling for the period, the share of private ports in the overall cargo handling at all Non-Major Ports in the State stood at 50 per cent. A Gujarat Maritime Board (GMB) - the State port regulator data revealed that for the month of October 2018, Adani Group-controlled Mundra Port handled 74.4 million tonnes, up 13 per cent on year-on-year basis, while Dahej Port and Pipavav Port witnessed growth of 22 per cent and 21 per cent respectively at 18.9 MT and 5.8 MT of cargo handling for the month respectively. Overall the GMB Ports (Non-Major Ports) handled around 226 MT of traffic for the period under review as compared to 208 MT during the same period last year. In the year 2017-18, the private ports' share in overall traffic at Non-Major Ports was about 47 per cent with 97.2 MT of crago handling. The major commodities handled at GMB Ports included crude oil, coal, containers and LNG. Notably, the only Major Port located in the State Deendayal Port Trust (DPT) at Kandla in Kutch registered 8.46 per cent growth for the period April-October 2018 at 68,471 tonnes (provisional). DPT, however, remained the largest port among the Major Ports in cargo handling. |
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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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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. |