Shipwaves recognized by JOC as pioneer in container shipping tech, JNPTs 4th terminal to part-open by 2017-end & more weekly insights from Shipwaves
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India Market Watch
- “The last date of export of raw sugar to the US under TRQ quota for the US fiscal year 2017 (October 1, 2016 to September 30, 2017) has been extended till October 31 this year,” the Directorate General of Foreign Trade (DGFT) has said in a public notice.
Tip: Shipwaves has made arrangements with shipping lines for our customers participating in sugar exports. Please contact us for reservation of space with competitive freight charges.
- Export and Import cargo from Nhava Sheva is expected to be delayed in the coming season of bulk container movement, owing to port congestion due to limited shipping line capacity and constrained port operations.
Tip: Shipwaves advises all customers to plan accordingly. Additional capacity will be created by 2017-end when 4th terminal starts operations, bringing relief to ongoing cargo movement.
Container Freight Rates Pulse
- The government has set up an online service facility that can be used by importers and exporters to resolve all foreign trade-related issues. The directorate general of foreign trade (DGFT), which comes under commerce ministry, has asked all exporters and importers to use the system — Contact@DGFT — for resolution of their matters. Traders can raise all matters related to the directorate or other agencies of the Centre and States through this facility, which is activated at the DGFT website.
Government offers online tool to resolve foreign trade issues.
- Reduction in GST on supply of scrips to boost exports. Welcoming the decision of the GST Council of reducing the rate on supply of various scrips from 12 per cent to 5 per cent, the Federation of Indian Export Organizations (FIEO) said the move will give a boost to the exports sector. “Reduction of the GST rate on supply of scrips like merchandise exports from India scheme (MEIS), service exports from India scheme (SEIS), duty free import authorisation (DFIA) from 12 per cent to 5 per cent follows the fitment formula adopted by the Council,” FIEO president Ganesh Kumar Gupta said in a statement issued here today.
Reduction in GST on supply of scrips to boost exports.
Container Shipping Sailing
- Hapag Lloyd latest price announcement — India to Middle East, Red Sea & ISC. Hapag-Lloyd will apply a Peak Season Surcharge (PSS) for all container types on the westbound trade from India to Middle East, Red Sea and Indian Subcontinent. Effective for sailings as of October 1, 2017 and valid until further notice, the PSS for India to Middle East, Red Sea and Indian Subcontinent will be USD 100 per TEU.
Hapag Lloyd latest price announcement.
- MSC’s extended IMED service to connect Hamad Port with Indian gateways. Mediterranean Shipping Company (MSC) has announced new weekly calls at Hamad Port in Qatar, on its IMED service.This service will also enable exports from Hamad to Sohar in Oman, Mundra Port and Nhava Sheva in India, and the eastern Mediterranean ports
MSC’s extended IMED service to connect Hamad Port with Indian gateways.
Shipping Infrastructure Roundup
- 1st phase of JNPTs 4th terminal to part-open by 2017-end. The Port of Singapore Authority (PSA) today said the Rs 8,000-crore fourth terminal project at JNPT is on schedule, and the first terminal will be part- commissioned by end of this year with 1 million TEU capacity. “We will be commencing operations by the end of December this year for the first phase. Initially, we will have a capacity of 1 million TEU (standard container units),” PSA Indias managing director Mike Formoso told reporters. Formoso said there is a staggered plan for the commissioning of the first phase which includes adding more capacity in 2018 and 2019 by putting more cranes alone the one kilometre long berth.
1st phase of JNPTs 4th terminal to part-open by 2017-end.
- Cochin Port Trust is looking forward to find ways for promoting cargo movement to Maldives Port through a regular shipping service. The port is likely to operate a weekly service of a 600 TEU vessel from Kochi to Male. Maldives Male Port handles about 70,000 TEUs annually. Kochi is the nearest port, with only 30 hours sailing. K K Krishanadas, CEO, DP World has said that the port is trying to facilitate regular sailings to Maldives for cargo promotion.
Cochin Port Trust explores regular sailing to Maldives.
Global Market Buzz
- SASAC Gives Green Light to COSCO-OOCL Deal. China’s State‑owned Assets Supervision and Administration Commission (SASAC) has approved the bid from COSCO Shipping Holdings Co to take over Orient Overseas (International) Limited. Under the offer launched in July, COSCO Shipping Holdings and Shanghai International Port Group (SIPG) seek to acquire all issued OOIL shares at an offer price of HKD 78.67 (USD 10.07) in cash, totaling in USD 6.3 billion .On completion, assuming all OOIL shareholders tender their shares, COSCO would hold 90.1%, while SIPG would hold 9.9% of OOIL. The combined entity, if the merger is completed, would become the world’s third largest container carrier.
SASAC Gives Green Light to COSCO-OOCL Deal.
- Intermodal USA to Showcase New BISON Container Lift System. BISON, the specialist developer of container technology, will showcase a new, world-first portable system for lifting containers at the IANA Intermodal EXPO in California on 18 and 19 September. Recognizing that conventional container handling equipment is typically big, heavy and expensive, BISON’s compact, portable and more economic alternative equips importers, exporters and project logistics operators to lift heavy containers on and off chassis in any location. First units are now being shipped to the Middle East, South America and Europe.
Intermodal USA to Showcase New BISON Container Lift System.
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