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Basmati rice, tea exports to Iran affected due to depleting balance in rupee-rial trade account

Delayed payments from Iran on the back of the depleting balance in the rupee-rial trade account is likely to severely impact exports of basmati rice and tea to that country this year. Around Rs 2,000 crore, due to basmati rice exporters to Iran, is currently stuck because of a payment crisis, it is learnt.

Since the US imposed sanctions on Iran, India could not engage in dollar-denominated trade with the country. Hence, a rupee-rial trade mechanism was put in place in 2018. However, since there have been no oil imports by India since May 2019 due to the US-mandated sanctions, the accumulations in the rupee-rial account have been depleting drastically, as per a report.

 POSTED BY Exim News Service.

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Mansukh Mandaviya launches development of indigenous software solution for VTS & VTMS

Minister of State for Shipping (Independent Charge) Mr Mansukh Mandaviya on Tuesday e-launched the development of indigenous software solution for Vessel traffic Services (VTS) and Vessels Traffic Monitoring Systems (VTMS) in New Delhi.

In his inaugural address, Mr Mandaviya emphasised on the development of indigenous systems as per the requirement of the country instead of relying on high-cost foreign-made software solutions for traffic management at Indian ports.

He said that aligning with the vision of ‘Atmanirbhar Bharat’ of Prime Minster Mr Narendra Modi, ‘Made in India’ VTS and VTMS software will pave the way for ‘Make for the World’ vessel traffic management systems.

VTS and VTMS are software that determine vessel positions, position of other traffic or meteorological hazard warnings, and extensive management of traffic within a port or waterway. Vessel Traffic Services (VTS) contribute to safety of life at sea, safety and efficiency of navigation, and protection of the marine environment, adjacent shore areas, work sites and offshore installations from possible adverse effects of maritime traffic. Vessels Traffic Management Systems are installed in some of the busiest waters in the world, and are making valuable contribution to safer navigation, more efficient traffic flow, and protection of the environment. Traffic flow in busy approach routes, access channels and harbours can be coordinated safely, in the best interest of port and its users. Incidents and emergency situations can be dealt with quickly. Data from traffic movements can be stored and used as reference information for port administration, port authorities, coast guards and search and rescue services, explained a release.

VTMS is mandatory under IMO Convention SOLAS (Safety of Life at Sea). The VTMS traffic image is compiled and collected by means of advanced sensors such as radar, AIS, direction finding, CCTV and VHF or other cooperative systems and services. A modern VTMS integrates all of the information into a single-operator working environment for ease of use and in order to allow for effective traffic organisation and communication.  

Presently, India has approximately 15 VTS systems operational along the coast and there is no uniformity of VTS software as each system has its own software. With indigenous software development in progress, it will benefit the port sector, both in India and the region. It is expected that a prototype system will be developed in 10 months for testing and to operate as a parallel system until it is robust for day-to-day operations.

Development of indigenous VTS software will reduce foreign exchange expenditure and also minimise dependence on foreign support for VTS software. Some of its benefits are:

* Saving of foreign exchange for VTSs in India.

* VTS software can be provided to trade-friendly countries such as Maldives, Mauritius, Myanmar, Sri Lanka, Bangladesh and Gulf countries.

* Will minimise cost of future upgradation of software.

* Shall be easier to interconnect with MIS/ERP softwares of ports.

* Availability of Indian VTS software will make Indian companies competitive commercially in global bids.

* Implementation of National Maritime Domain Awareness programme of Indian Navy and NCVTS by DGLL, a real-time, interactive aid to the navigation system for coastal shipping, shall become feasible with Indian VTS software at low cost.  

The Ministry of Shipping has sanctioned an amount of Rs 10 crore to IIT, Chennai for development of indigenous VTS software, the release added.

POSTED BY EXIM NEWS SERVICE.

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New China-India service to commence on Nov. 15

* To be operated by Wan Hai Lines along with Sinokor, Heung A, Interasia Lines & Feedertech

* Nhava Sheva & Mundra calls

Wan Hai Lines has announced the launch of the China-India Service VI (CI6 service) with effect from November 15, 2020. This new service will help to expand Wan Hai Lines’ network in North China and West India, it informed in a communiqué.

This service will be jointly operated with Sinokor Merchant Marine Co., Ltd, Heung A Line Co. Ltd, Interasia Lines and Feedertech Pte Ltd, by using 6 vessels with nominal capacity of 4,250 TEU. Wan Hai Lines will deploy 2 vessels, while Sinokor/Heung A/Interasia Lines/Feedertech will operate 1 vessel each.

CI6’s maiden voyage will commence from Dalian port on November 15 and it will be a 42-day, fixed round-trip schedule.

The port rotation will be: Dalian – Shanghai – Ningbo – Hong Kong – Shekou – Singapore – Port Klang West Port – Port Klang North Port – Colombo – Nhava Sheva – Mundra – Port Klang North Port – Shekou – Dalian

Wan Hai Lines expressed confidence that the new service will provide customers with better frequency and service coverage between China, South-East Asia, Sri Lanka and India.

Posted By Exim News Service.

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Exports from Cochin International Airport hit after DGCA restrictions

After the Directorate-General of Civil Aviation (DGCA) restricted the operation of foreign ad hoc and pure chartered, non-scheduled freight services to just six airports, Delhi, Mumbai, Kolkata, Chennai, Bengaluru and Hyderabad, from October 1, 2020, air cargo movement via Cochin International Airport has been curtailed and export of mostly perishable items such as vegetables and fruits hit. Most of the cargo operations via Kochi were handled till now by foreign airlines, especially those from the Middle East as most of the export items were headed to markets in those countries. The bulk of the cargo comprised fruits and vegetables as well as seasonal items, as per a report.

POSTED BY    Exim News Service.

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Adani Ports launches offshore bond offering, to raise $750 mn

Textile and garment imports, as a percentage of such exports, have surged from just about 13 per cent in FY14 to a record 25 per cent in the first eight months of this fiscal. Similarly, at 1.7 per cent, the share of textiles and garments in the country’s overall imports in the April-November period was the highest in recent memory. On the other hand, the labour-intensive sector’s share in the overall merchandise exports has been sliding consistently in recent years, having dropped from as much as 13.7 per cent in FY16 to just 10.27 per cent this fiscal (up to November), the lowest in at least a decade, said a report.

POSTED BY DAILY SHIPPING TIMES.

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India can be among top-5 agri goods exporters with effective policies: Report

NEW DELHI: By shifting its focus on cultivation and effectively handholding farmers, the country can be among the top-five exporters of agro commodities, according to a report by the World Trade Centre. The report comes at a time when the Government has announced some reforms in the farm sector by allowing farmers to sell produce outside the regulated APMC markets, and relaxing the Essential Commodities Act, among others, which can help boost exports. 

With an annual agro exports of USD 39 billion in 2019, the country is ranked eighth, after the EU (USD 181 billion), the US (USD 172 billion), Brazil (USD 93 billion), China (USD 83 billion), Canada (USD 69 billion), Indonesia (USD 46 billion) and Thailand (USD 44 billion), the WTC report said quoting the 2019 WTO data. 

“Through focused intervention in capacity-building, we can enhance our agro exports to surpass Thailand and Indonesia, and become the fifth-largest exporter according to the report. 

To attain this, as a first step, the study said, the Government should re-orient the role of its extension centres – the 715 krishi vigyan kendras across the country – to handhold farmers in growing those varieties of crops that have demand in the global markets. 

Many a time, Indian consignments are rejected because of the presence of pesticides above the prescribed maximum residual limits, the study noted and said “krishi vigyan kendras should guide farmers on prudential use of pesticides and other chemicals so that they conform to the global quality standards”. 

“Having attained self-sufficiency in agriculture, we need to re-orient our extension services system, which was developed in the days of the green revolution that focused on attaining self-sufficiency in farm production,” the report said. 

The report added that it is time we move towards growing quality food for the global markets rather than quantity. 

One key focus area could be cultivating horticulture crops that conform to the quality, colour, shape and chemical contents acceptable in foreign countries or which are fit for further processing. 

Despite being the second-largest producer of fruits and vegetables, India’s share in global exports is under 1.8 per cent. In spite of being the largest producer of papayas, lemons and limes, we meet hardly 3.2 per cent of the world papaya demand, 0.5 per cent for lemons and limes, according to data from the Food and Agriculture Organization. 

In the past decade, India made remarkable progress in exports of niche items like capsicum chilly, castor oil, tobacco extracts and sweet biscuits, apart from basmati rice, meat and marine products. 

“These success stories should be and can be replicated in other potential food items,” the report concluded. 

Posted By Daily Shipping Times.

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Logistics industry to be greatly impacted by Dedicated Freight Corridor: MD

Mr A. K. Sachan, Managing Director, Dedicated Freight Corridor Corporation of India Ltd (DFCCIL), has said that being one of the most prestigious infrastructure projects in the country, the Dedicated Freight Corridor is a high priority area for the government, as per a release.

Addressing a FICCI webinar on ‘Opportunities in Indian Railways: Fostering Infrastructure for Future’, Mr Sachan said, “DFCCIL plans to connect the inland waterways from Varanasi to the eastern corridor to provide direct connectivity from Haldia Port to Ludhiana.” We will also be allowing private players to operate on these corridors,” he added.

Elaborating on the project, Mr Sachan said, “Dedicated Freight Corridor project has created many employment opportunities and multiple industries are dependent on it. The construction industry has highly benefited from this sector and once the operation starts, the logistics industry will be greatly impacted.”

Posted By EXIM NEWS SERVICE.

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