Moody's rating upgrade spruces up India's investment credentials     Top
Press Trust of India : Nov 17

The sovereign rating upgrade by global agency Moody's has put India alongside Italy, Spain, Bulgaria and the Philippines in terms of investment climate. In effect, India has become the largest economy among Baa2-rated sovereigns, according to Moody's. The agency today upgraded India's sovereign credit rating by a notch to 'Baa2' with stable outlook after a gap of 13 years, saying reforms will foster sustainable growth. Sovereign rating is issued to national governments and a barometer of the countrys investment climate. It gives investors insight into the level of risks, including political, associated with investing in a particular country.

According to Moody's, Baa rating is medium-grade and subject to moderate credit risk while the modifier 2 indicates a mid-range ranking. The government and some commentators in India have been pitching hard for a rating upgrade citing the country;s strong economic fundamentals, political stability and a slew of reforms. Some of the key reforms that the Narendra Modi government has initiated include the Goods and Services Tax (GST), demonetization, Aadhaar, bank recapitalization, the Insolvency and Bankruptcy Code and targeted delivery of benefits through the Direct Benefit Transfer (DBT) system, among others.

The other two leading global rating organizations such as Fitch and S&P have BBB-rating with a stable outlook. BBB-is just a notch above the junk grade and the lowest in investment ratings. The upgrade signals increasing confidence in the Indian economy vis-a-vis China in the international market. In September, S&P Global Ratings cut China's long-term sovereign credit rating by one level to "A+" from 'AA-'. Even Moody's in May this year downgraded China to A1 from Aa3 and changed outlook to stable from negative. After Moody's action, India is now three notches away from China. With Baa2 and a stable outlook, India is behind only China in the BRICS bloc, Moody's said, adding that India, China and South Africa are investment grade sovereigns in the grouping.

Russia has a Ba1 rating, South Africa (Baa3) and Brazil (Ba2). Foreign investors are expected to see the current action by Moody's as another evidence of a growing Indian economy. A rating upgrade usually gives a leg-up to the economy, prompting companies to expand capacity in the country, which also generates more jobs. This is also viewed as a positive sign by investors in stocks, bonds and currency markets, sparking more capital inflows. The factors that rating agencies normally consider while deciding on sovereign ratings include FDI inflows, debt-to-GDP ratio and per capita income of nations, among others.

According to Moody's, the average fiscal deficit of the other Baa2-rated countries was 4.2 per cent in 2016 and 3.1 per cent in 2017 (forecast).

The "median debt:GDP ratio for Baa2 countries as against India's debt:GDP ratio stood at 42.7294 : 68.9645," Moody's said. Moreover, on a PPP basis, India's GDP per capita has outstripped the Baa-rated median for 19 countries. Between 2006 and 2016, this grew by 108 per cent against 74 per cent for all Baa-rated medians, it added.

India Inc raises Rs. 1.4-lakh cr (1.4 trillion) via equities in 2017    Top
Business Standard: Mumbai-New Delhi, Nov 17

Fund raising through the equity route hit an all-time high, touching the Rs 1.4-lakh crore (Rs.1.4 trillion) mark during the current calendar year (CY17). In all, companies raised a record Rs 1,40,073 crore (Rs.1.4 trillion) in the ten-and-a-half months of CY17 (January-November 14, 2017) through various equity instruments.

The amount is more than double when compared with the entire previous calendar year (CY16), when companies raised Rs 46,733 crore (Rs.467.3 billion). Earlier in CY10, they had raised Rs 1,04,462 crore (Rs 1.04 trillion) via equities, data from Prime Database shows. Analysts attribute this to the buoyant secondary market that has seen the benchmark indices - the S&P BSE Sensex and the Nifty 50 - rally 25 per cent thus far in CY17.

"Promoters are making use of the bull run in the secondary market to raise funds. Valuations for a lot of mid-cap companies have improved over time, and promoters are using this opportunity to tap the market for funds, including microfinance companies, non-banking financial companies (NBFCs) and private banks," said G Chokkalingam, founder & managing director, Equinomics Research.

Among sectors, financials including banks, non-banking financial companies (NBFCs) and insurance firms have cornered more than half the share, or about Rs 85,000 crore (RS.850 billion), of the total fundraising thus far in CY17. The companies from the sectors such as power generation & distribution, consumer durables, metals, realty, retail and pharmaceuticals raised more than Rs 1,500 crore (Rs.15 billion). Going ahead, while analysts expect India Inc to continue raising funds, but not at the scorching pace seen in CY17. One of the factors, they say, are the mega-issues of insurance companies which are now out of the way.

"The pace of equity issuance in the next year is likely to slow and could be around the Rs 1-lakh crore (Rs.1 trillion) mark. CY17 saw a large number of IPOs, especially from the insurance sector. These were being planned since quite some time and hit the market only in CY17. I don't think we will see this kind of a paper supply from insurance companies next year. As a result, the overall equity issuance is likely to dip going ahead," said Mahesh Nandurkar, executive director and India Strategist at CLSA. That apart, there are concerns regarding the pace of the rally in the secondary market in the absence of a meaningful recovery in corporate earnings. Experts do not expect similar returns from the markets in CY18 as seen in CY17, as politics (Assembly elections), actions of global central banks, corporate earnings and oil prices take centre stage.

"Market's focus will now shift to the outcome of state elections and the overall fiscal health of the country in the next one year. Besides, oil prices are on a rise. All these should keep a check on the sentiment, and may have a rub-off effect on fundraising," Chokkalingam said.

Banks/NBFCs, however, may continue to tap markets for funds. With the economic cycle likely to witness an upturn going ahead, analysts expect more companies, especially from this segment, to tap the primary market. This, they feel, will also be led by the need for capital for expansion purposes. "As the country prepares for the general elections in 2019, I will not be at all surprised to see a surge of IPOs by private companies in the next few months before the deal window closes. From a sector perspective, financials, industrials and health care have been some of the busiest sectors in terms of domestic listing. We can expect to see strong activity in these sectors in the next 18 months," said Ashok Lalwani, head of Baker McKenzie's Global India Practice.

Govt clears first mega CEZ at JNPT; 45 companies may invest Rs 15k-crore (Rs.150 billion) in Phase-I    Top
Daily Shipping Times: New Delhi, Nov 17

About 45 companies across telecom, auto and IT sectors will soon bid for 200 hectares of land to set up manufacturing units in the zone

The Government has given the go-ahead for setting up India's first mega Coastal Economic Zone (CEZ) at the Jawaharlal Nehru Port in Maharashtra as part of a plan to develop 14 such industrial clusters to spur manufacturing and generate jobs.

About 45 companies across telecom, auto and IT sectors will soon bid for 200 hectares of land to set up manufacturing units in the zone, senior officials said recently. The plan envisages a total investment of Rs 15,000 crore (Rs.150 billion) in the first phase and creation of more than 1.5 lakh jobs, they said. "The idea is to attract large firms interested in serving the export markets as they would bring with them technology, capital, good management and links to the world markets," said one of the officials.

"This in turn would help create an ecosystem around them in which productive small and medium firms would emerge and flourish," the official said. The Union Cabinet had last year approved setting up of 14 mega CEZs under the National Perspective Plan of the Sagarmala Programme, with an aim to promote development of industrial clusters around ports, encourage port led development, reduce logistics cost and time for movement of cargo, enhance global competitiveness of India's manufacturing sector and create hubs of job creation.

These zones are expected to provide business-friendly ecosystem including Ease of Doing Business, ease of exporting and importing, swift decisions on applications for environmental clearances, and speedy water and electricity connections. The Jawaharlal Nehru Port is among the busiest cargo ports in the Country, but it has sufficient available land.

The port handles over 40% of India's export-import volume because of deep-draft ports capable of accommodating very large and heavily loaded ships. CEZs are spatial economic regions comprising a group of coastal districts or districts with a strong linkage to ports in that region to tap into synergies with the planned industrial corridor projects. The Country's first mega CEZ will stretch along North Konkan region spread across Nashik, Thane, Mumbai, Pune and Raigarh.

The Government's plan envisages investment of $100 billion (about Rs 6.5 lakh crore) in industrial development for port-led economic growth in maritime sector and inland waterways, water transport, coastal and cruise shipping, and solar and wind energy generation to boost the Country's growth momentum considering India's huge coastline of 7,500 km. The Government hopes to add two percentage points to India's GDP through creation of worldclass infrastructure.

Govt is drafting an Agriculture export policy: Commerce and Industry Minister Suresh Prabhu    Top
Daily Shipping Times: Pune, Nov 16

Commerce and Industry Minister Suresh Prabhu said that the Central Government is drafting an agriculture export policy that would also help in doubling the farmers' income.

The Minister said that the Government is also taking several measures, such as researching new products and special studies, in order to enhance export potential of the Country. "India is at a great advantage, because we have 35 agro-climatic zones. We produce everything that is possible to be produced. The Prime Minister's vision of doubling farmers' income by 2022 will be possible only when we export our agriculture products," he said.

Prabhu strongly supported the export policy and said that it was difficult to consume all the agricultural produce within the Country due to the perishable nature of agri products. "So, export is necessary and the new policy will help," he said.

On the role of private sector, Prabhu said that the private sector will continue to be a major contributor in the Country's growth.

However, he said that there is a need to increase the share of manufacturing in the Country's GDP, which is currently below 20%. The share of manufacturing should be ideally 25%. "For this to happen, a two-prong approach is needed - protecting today's manufacturing sector as well as coming up with manufacturing innovations. Even the service industry should generate new ideas," he added. Prabhu further said that there is a need to explore new markets and to reach out to small countries having low investment capacity.

"The Ministry is intent on creating a 'virtual ecosystem' to promote start-ups. It is looking at new supply chain. Even new industry corridors are on the cards," he said.

Palm oil imports up 10.06% in 2016-17: SEA      Top
Daily Shipping Times: New Delhi, Nov 17

Palm oil imports rose by 10.06 per cent to 92.93 lakh tonnes in 2016-17 marketing year that ended in October due to lower domestic production, industry body Solvent Extractors Association (SEA) said. India, the world's leading vegetable oil buyer, had imported 84.43 lakh tonnes of palm oils during the last marketing year (November-October).

The Country's total vegetable oils (edible and non-edible) import increased by 4.75 per cent to 154.40 lakh tonnes in 2016-17 from 147.38 lakh tonnes the last year. The share of palm oil is more than 60 per cent of the total vegetable oil import.

According to the SEA, the Country's imports came down in the first quarter of 2016-17 marketing year because of good domestic oilseeds crop and better supply of edible oil. Imports, however, rose in the rest of the quarters due to disparity in crushing that led to lower domestic production of vegetable oil, it said. Among palm oil products, import of RBD palmolein increased to 28.71 lakh tonnes in the 2016-17 marketing year from 26.23 lakh tonnes in the year-ago.

Seafood exports may cross $6 billion this year      Top
Daily Shipping Times: Kochi, Nov 15

Indian seafood export is all set to cross $ 6 billion in the current year, backed by rising demand for shrimp in the wake of dwindling supplies from other Asian countries.

The US leads the way for buyers during the Christmas and New Year season. "It is the peak season and there is increased demand. The prices are good too," said Shivam Gupta, Director of West Coast Fine Foods India. India is currently the top supplier of shrimps in the world, overtaking Ecuador, according to Globefish, the information and analysis wing on fisheries and aquaculture of the Food and Agriculture Organization (FAO) of the United Nations. The report said Indian farmed shrimp production had reached 5 lakh tonnes last year, with vannamei shrimp, the most preferred variety, touching 4.06 lakh tonnes.

Thailand, which used to be the largest producer of farmed shrimp, is recovering from a viral attack on its farms a few years ago. Globefish said the Country is expecting 5% growth from its last year's output of 2.5 lakh tonnes.

But farms in Malaysia and Indonesia are still plagued by diseases.

India exported $5.78 billion (Rs 37,871 crore) worth of marine products in 2016-17 with the US accounting for 30% share marginally ahead of Southeast Asia. "There is a rising demand for shrimps of small and medium sizes."

Unlike Europe, buyers in the US go for bulk purchases. It is possible to ship 100-200 containers," said Tara Ranjan Patnaik, VP of Seafood Exporters Association of India. Among the Asian countries, China and Vietnam are the major buyers. "Earlier, Vietnam used to re-export a lot of Indian consignments to the US. Though they still import, we now compete with them for selling shrimps to US buyers by offering better quality material," said Patnaik.

Govt to import onions     Top
Exim News Service - New Delhi, Nov. 12

The meeting of the Price Stabilization Fund Management Committee (PSFMC), headed by the Secretary, Consumer Affairs, Mr Avinash K. Srivastava, was held here last week. In the meeting, a decision was taken to import onions through a government agency to augment the availability of the bulb in the market in order to moderate prices.

It was also decided that NAFED and SFAC will procure 10,000 tonnes and 2,000 tonnes of onions, respectively, from the producing areas, including Delhi, and supply it to consuming areas to enhance availability and help moderate prices.

The meeting was attended by senior officials from various Ministries, as well as the MD (NAFED) and CMD (MMTC), said a release.

Safmarine to enhance Far East - North West India & Pakistan coverage from mid Dec.     Top
Exim News Service - Singapore, Nov. 8

Safmarine has announced the enhancement of its products from and to Far East and North West India & Pakistan. This will take effect mid December 2017, informed a media statement from Safmarine. It adds, "we will continue to have 2 dedicated service FI2 and FI3 serving North West India, with the new enhanced product".

FI3 Service Eta Xingang 16 Dec 2017
Xingang - Dalian - Qingdao - Busan - Kwangyang - Ningbo - Singapore - Tanjung Pelepas - Colombo - Jawaharlal Nehru Port - Pipavav - Singapore
•Nansha call will be removed and this gives us improved transit time from North China and South Korea into North West India.
Nansha will be served on the FI2
•Mundra call will be removed and will served by Pakistan Express last call ETA Mundra 8 Jan 2018. This means an increase accessibility from North and East China.
•Pipavav call will be added after Mundra removal.

FI2 Service Eta Shanghai 11 Dec 2017
Shanghai - Xiamen - Hong Kong - Chiwan - Nansha - Singapore - Colombo - Jawaharlal Nehru Port - Pipavav - Colombo - Port Klang - Singapore - Hong Kong - Shanghai
•Nansha call will be added
•Ningbo call will be removed and will be served on the FI3 service
Further, it will expand the coverage in Pakistan with enhanced Pakistan Express service. Safmarine will introduce a new service - Karachi Express to expand coverage into the Pakistan market and will gain new access into Karachi KICT.

Pakistan Express ETA Qingdao 12 Dec 2017
Qingdao - Shanghai - Ningbo - Chiwan - Singapore - Port Klang - Mundra - Karachi SAPT - Port Qasim - Singapore - Hong Kong
•Mundra call will be added effective ETA 15 Jan 2018.

Ashok Leyland sends 2nd consignment of 185 trucks to Bangladesh by Sea     Top
Daily Shipping Times: Kolkata, Nov 16

In a fillip to the Government's Coastal Shipping initiative, Ashok Leyland (ALL) recently sent a second batch of 185 trucks via the sea route to Mongla Port in Bangladesh, a growing market for the company.

The company's exports to Dhaka has gone up from 500 commercial vehicles (CVs) per year over the last many years to 5,000 per year at present. However, a senior ALL official said that cost of sending the vehicles via the sea route is slightly higher versus road transport, but of late, the company had been facing some delays at the India-Bangladesh border on land.

He said, "Border crossing was taking additional days/weeks and we had to park the trucks which cost more money. We are now working with the Government and concerned agencies on bringing down costs via the sea route." But the official also said the advantages of the sea route include a transportation time of just two and a half days, compared with over four days to reach Bangladesh via road, less damage to the vehicles during transit and a reduction in pollution levels.

Anand V, Senior General Manager, Sales Logistics at Hyundai Motors opined that GST has complicated issues. He said, "It is still unclear as to what is the GST that needs to be charged when cars are shipped by a coastal route when the first mile and last mile operations are by road. In this form of Multi-Modal Transportation, where two modes (road/rail) are involved, the present GST law is subjective and left to interpretation of consultants."

Nailesh Gandhi, President, Association of Multimodal Transport Operators of India (AMTOI), said, "To remove the complexity, the Shipping Ministry needs to take up the issue with the GST committee and support the trade with one single GST rate on an end-to-end basis. The services of a third-party logistics service provider who provides comprehensive service needs to be facilitated by the Government. These services cannot be seen in isolation or silos and necessitates uniformity in charges to help the service provider to use a single bill for end-to-end services."

Shipping Ministry floats new rules on building, repairing ships to boost quality, safety    Top
Daily Shipping Times: Mumbai, Nov 16

The Government has drafted new rules to ensure quality and safety of Indian-flag ships built or repaired at shipbuilding and repair yards (both local and overseas) while prescribing an age limit of 20 years for ships imported into India.

The new rules will also apply to equipment used on board Indian ships and their manufacturers and cover all Indian ships regardless of their size, nature of voyage or location of survey.

The 'Procedures for Certification of Shipbuilding/Repair Yards, Material and Equipment Manufacturing Works and Products as a Quality Control measure for Indian Ships' is proposed to be implemented from April 1, 2018, Pradeep Sudhakar K, a Ship Surveyor at the DG Shipping, wrote in a November 10 communication.

The 20-year age limit being set for import of second-hand/used ships into India will not impact the ability of local fleet owners to run their ships that are currently above this age. The current age limit prescribed by the DG Shipping is 20 years for single-hull oil and product tankers, 30 years for gas carriers and 25 years for all other cargo vessels.

Quality focus
Indian tonnage is 12.237 million gross tonnage (GT) comprising 1,361 ships.

The Shipping Ministry feels that the decision to build/repair/or to procure gears is governed by the price factor with less emphasis on quality. Low-quality manufacturing during shipbuilding/repair results in substandard ship quality, barely meeting the minimum requirements, is jeopardising the strength and safety of the ship, it claimed.

The implementation of robust quality control measures will help reverse this trend and improve the overall quality of Indian ships. Any yard intending to build or repair an Indian ship must be approved and certified by the Indian administration or by a nominated recognised organization (RO) as per the prescribed procedure.

Ships built for Indian flag will be classed with a recognised classification society - which verifies ships for seaworthiness.

Manufacturers of materials and equipment intended for installation on board Indian ships will be approved by the Indian administration or its nominated RO.

Coastal Steel Consignment of RINL arrives at Cochin Portagreements soon    Top
Daily Shipping Times: Cochin, Nov 15

Government of India has embarked ambitious development projects based on Sea ports. Coastal Shipping is one among the many such initiatives under the Sagarmala, the flag ship development project of Ministry of Shipping. As a beginning of this in Cochin, the first coastal movement by Rashtriya Ispat Nigam Limited (RINL), happened on 12.11.2017

M.V Sabarimalai, the coastal cargo vessel carrying 5000 Tonnes of steel products consignment of RINL, arrived at Cochin on 13th November evening from Visakhapatnam. This was the first steel consignment of RINL moved by coastal route from their plant at Visakhapatnam. So long they were bringing their consignment for distribution in and around Kerala by rail to their stock yard.

On arrival, the Captain of the ship was welcomed by Traffic Manager in presence of the officials of the Port, RINL Cochin, the Agents Shreyas Shipping, and the Stevedore. The arrival of the first consignment at Cochin emphasized the effort of the marketing team of the Port, which was having discussion with the RINL authorities for more than a year for bringing this consignment to Cochin.

It may be mentioned there that on 31st October, 2017 Hon'ble Minister of Shipping and Hon'ble Minister of Steel jointly flagged off the first coastal consignment of Visakhapatnam Steel plant of RINL at Visakhapatnam Port. The ship sailed from Visakhapatnam Port on 8th November, 2017 to reach Cochin on 12.11.2017. It is expected that Coastal Shipping will play a key role in the growth of steel sector in the Country as logistics cost will be less giving a competitive advantage for the steel industry in the Country.

As per the current plans, around 10,000 Tonnes of steel consignment of RINL is expected every month and other companies like SAIL and JINDAL are expected to start such services in near future, giving additional cargo volume to the port.

Dedicated freight corridors project to have multiplier effect on the logistics industry: ICRA   Top
ET Auto: New Delhi, Nov 13

As per an ICRA note, the DFCs will add incremental capacity to the railway network and would also have a positive multiplier effect on the logistics industry in India.

The commissioning of dedicated freight corridors (DFCs) is expected to benefit the Indian Railways (IR) in the medium to long term and will be a game-changer in the Indian logistics industry.

As per an ICRA note, the DFCs will add incremental capacity to the railway network and would also have a positive multiplier effect on the logistics industry in India. Shedding more light, Shamsher Dewan, Vice President and Sector Head- Corporate Ratings, ICRA, said: "Currently IR account for 30 per cent of total freight movement in India and are a preferred mode of transportation for long haul and bulky commodities such as Coal, Iron Ore, Fertilizers, Steel and Cement."

"Although, it continues to maintain its dominance in transportation of select commodities, it has lost market share on an overall basis over the past few decades due to significant increase in freight charges and infrastructure bottlenecks. However with the commissioning of the DFC, IR's competitive position is expected to improve and enable it to capture market share in freight transportation."

In the first phase, the Western Dedicated Freight Corridor (WDFC) and the Eastern Dedicated Freight Corridor (EDFC) will be commissioned. The WDFC is being financed by Japanese International Cooperation Agency (JICA).

The WDFC, which will pass through Haryana, Rajasthan, Gujarat and Maharashtra, will greatly benefit the container freight movement and the CTOs by reducing the turnaround time and operating time tabled trains.

The EDFC will pass through Punjab, Haryana and the densely populated states of Uttar Pradesh, Jharkhand and West Bengal. The major commodity carried over rail in this region being coal, the EDFC is expected to provide uninterrupted and fast deliveries to the thermal plants in Delhi and Uttar Pradesh, which will greatly benefit industries and; the general population by ensuring uninterrupted power supply.

Despite getting the government approval in 2008, the DFC project has been delayed on account of land acquisition and obtaining other approvals. The biggest challenge post completion of DFCs would be upgrading feeder lines of IRs to support heavier trains that will move on the DFC.

Smooth transition of trains from DFC to Indian Railway's infrastructure will be important to ensure timely movement of trains. Any delays would greatly hamper the flow of trains as DFC junctions have low holding capacity by design.

Coal India & Railways achieve record single-day loading in Nov.                 Top
Exim News Service - New Delhi, Nov. 16

In a major achievement, the synergetic efforts of Coal India Ltd (CIL) and Railways, with close monitoring by the Ministries of Coal, Railways and Power, have resulted in unprecedented growth in coal offtake and improved dispatch of coal for the power sector in particular. Effectively strengthening coal transportation and production, CIL loaded 250 rakes through the Indian Railways system on November 14, 2017, an all-time high achievement for the month of November.

The aim was to ensure smooth coal supply. Of the 250 rakes, 223 were exclusively loaded for thermal power stations across the country.

Achieving a loading of 250 rakes a day in November has set a new record. This happened despite the continuing sporadic rains in some of the coalfields. Normally, loading at such levels is attained from late December when the onset of favourable environment helps in ramping up coal production, said a release.

CIL and Railways are now jointly working on a strategy to enhance the loading target to 266 coal rakes per day, which will further help both the power and non-power sector in meeting their coal demand.

The growth in coal dispatch to the power sector in August, September and October of the current fiscal has been 20 per cent, 21 per cent and 18 per cent, respectively, as compared to the same period in the previous fiscal year. This has helped the coal-based power plants in meeting the spurt in demand of the festive and paddy seasons despite the drop in generation from hydro, nuclear and imported coal-based plants.

CIL is poised to contribute a load of 300 rakes through the Railways, which includes about 35 rakes for coal beneficiation and coal lifted through road for loading from goods shed sidings of the Railways, the release added.

Kochi Port records 17.65% Container handling growth in October    Top
Daily Shipping Times: Cochin, Nov 16

Growth in cargo throughput at Kochi Port has continued into the month of October.

According to recent figures, the port handled a total of 16.45 million tonnes of cargo between April and October this financial year. This is 17.65% growth over the corresponding period of 2016-17.

Containerised cargo movement through the terminal here too has shown healthy growth at 12.73% during the April-October period. Total container throughput touched 3.19 lakh TEUs. The International Container Transshipment Terminal also registered the highest ever monthly throughput of 51,019 TEUs in October 2017. The previous highest was 50,842 TEUs in August 2017.

Highest rate
Meanwhile, figures from the Indian Ports Association showed that cargo movement at the Kochi Port had grown nearly 20% up till September this year. It is the highest rate of growth for the Major Ports in the Country during the current financial year. The other facility showing similar growth rate is the Halida Dock Complex with nearly 18% growth during the period. The figures for Kochi and Haldia Complex compare well with the national average growth of a little more than than three per cent during the financial year up to September.

Profit
The port here had registered an operating profit of Rs. 127.72 crore (Rs.1.2 billion) during 2016-17 against Rs. 70.89 crore (Rs.708 million) during the previous financial year.

JN Port to invest Rs. 800 cr (Rs.8 billion) to develop 2 Dry Ports in next 18 months     Top
Daily Shipping Times: Navi Mumbai, Nov 14

Jawaharlal Nehru Port Trust (JNPT) is likely to make ready the Jalna and Wardha dry ports over the next 18 months.

The Jalna Port will come up close to Aurangabad, with an annual capacity of 20,000 TEUs.

Wardhwa will come up near Nagpur, with another 20,000 TEU annual capacity. Around Rs. 400 crore (Rs.4 billion) will be spent on each of the two ports.

According to Mr. C UnniKrishnan Nair, Chief Manager (Traffic), JNPT, work has begun on developing the two dry ports on a public-private partnership basis.

"Development work on Jalna and Wardhwa has already begun and should be ready within 18 months. Land has been acquired for both the projects," he said.

The Shipping Ministry has been trying to develop dry port infrastructure to improve the turnaround time of ships calling at Major Ports in the Country. Consolidated operations

A dry port, Nair explained, will help logistics companies consolidate their operations and also complete export/import procedures at inland locations that are relatively closer to farms and factories. It provides customers better control over the cargo.

Rather than getting stacked at port warehouses for Customs clearances, containers can now be directly transported via road and rail networks to the inland dry port, where customers or exporters can get Customs clearance for their containers.

"The dry ports will lead to a near 20 per cent reduction in costs for exporters, apart from faster clearances and better control over cargo," Nair added.

Major Ports register positive growth of 3.27% during April-October, 2017     Top
Daily Shipping Times: New Delhi, Nov 13-11-2017

Blue Economy is a catalyst in India's progress: Nitin Gadkari

The Minister for Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation Shri Nitin Gadkari reviewed the work of all ports in Goa recently. He interacted with stakeholders including PPP operators, port users and other private sector service providers. In his address Shri Gadkari said that as per the vision of Prime Minister Shri Narendra Modi, Blue Economy is proving to be a catalyst in India's progress and the performance of ports is a clear pointer towards the same.

The review meeting was aimed at serving the industry needs in a better way, identifying issues holding up new projects and understanding ways to improve efficiency. The meeting provided a platform to all officials and stakeholders to communicate with each other and with the Ministry of Shipping, breaking the conventional tight silo - bound approach and expediting decision making processes. Promoting Coastal Shipping and improving port infrastructure are high up on the Ministry's agenda.

The Minister recently flagged off consignments of trucks to Bangladesh from Chennai and Steel from Vizag.

Overall traffic growth at Major Ports
The Major Ports in India have recorded a growth of 3.27% during the period April to September, 2017 and together handled 383 Million Tonnes of cargo as against 371 Million Tonnes handled during the corresponding period of previous year.

The Eight Ports i.e. Kolkata, Paradip, Chennai, Cochin, New Mangalore, Mumbai, JNPT and Kandla registered positive growth in traffic during the period April to October, 2017.


Cargo traffic handled at Major Ports:
The highest growth was registered by Cochin Port (17.66%), followed by Kolkata [incl. Haldia], New Mangalore, Paradip with growth of about 12%. The Cochin Port growth was mainly due to increase in traffic of POL (24.56%) and Containers (11.12%). In Kolkata Port, overall growth was positive i.e. 12.39%. Kolkata Dock System (KDS) registered traffic growth of 3.80%. Haldia Dock Complex (HDC) registered positive growth of 16.66%.

During the period April to September 2017, Kandla Port handled the highest volume of traffic i.e. 63.13 Million tonnes (16.49% share), followed by Paradip with 55.78 Million Tonnes (14.57% share), JNPT with 37.90 Million Tonnes (9.90% share), Mumbai with 36.72 Million Tonnes (9.59% share), and Visakhapatnam with 35.74 Million Tonnes (9.33% share). Together, these five ports handled around 60% of Major Port Traffic.

Commodity wise Share % in Traffic in October 2017
Commodity-wise percentage share of POL was maximum i.e. 34.07%, followed by Container (20.01%), Thermal & Steam Coal (12.81%), Other Misc. Cargo (12.24%), Coking & Other Coal (7.57%), Iron Ore & Pellets (6.61%), Other Liquid (4.30%), Finished Fertilizer (1.29%) and FRM (1.10%).