Shipping / Transport
No acute shortage of containers: Shipping Minister Sarbananda Sonowal
India's maritime trade is not facing a container shortage, with the government tackling disruptions post-Red Sea crisis, according to Union Minister Sarbananda Sonowal. Due to ships diverting around the Cape of Good Hope instead of the Suez Canal, a times have increased by 35-40 percent, causing vessel congestion and delays at global ports. Efforts are being made to address container repositioning, congestion, and promote Indian container ownership.
DTDC launches drone delivery services in partnership with Skye Air Mobility
DTDC Express partnered with Skye Air Mobility to launch last-mile drone-based deliveries. It started with a successful 7.5 km delivery from Bilaspur to Gurgaon sector 92. CEO Abhishek Chakraborty highlighted the milestone partnership's role in reshaping last-mile logistics amid digitalisation and changing consumer behaviors. The eco-friendly drone delivery aims to reduce carbon emissions and traffic congestion. There are plans for expansion across India to enhance delivery speed, efficiency, and sustainability.
Govt puts Concor privatisation on backburner
"The government is unlikely to push Concor's strategic sale. There are some concerns from Railways Ministry as also investors," the official said.
Surging shipping costs give companies a sinking feeling
The global shipping industry faced significant challenges, with spot freight rates increasing by around 105% in three months. Companies like Bajaj Auto and CEAT experienced disruptions similar to the Covid era, highlighting severe container shortages affecting various sectors, including agriculture and automotive.
Ports ministry receives 29 proposals worth Rs 3,300 crore from Andhra Pradesh
Ministry of Ports, Shipping and Waterways has received 29 new proposals worth Rs 3,300 crore from Andhra Pradesh covering various projects, including port development and coastal berths, Parliament was informed on Friday. These projects include Ro-Pax and passenger jetties, fishing harbours, port modernisation, and skill development. The ministry has already sanctioned Rs 450 crore for development of these projects, Sonowal said.
ICG successfully rescued 14 crew members after JSW maritime vessel ran aground off Raigad's Kolaba Fort
The Indian Coast Guard on Friday successfully rescued 14 crew members after severe weather conditions caused a JSW maritime vessel with 14 crew on board, to run aground off Raigad's Kolaba Fort yesterday. According to the Indian Coast Guard release in the early hours of Friday, despite adverse conditions limiting air operations, ICG launched a daring operation to evacuate the crew from the stranded vessel.
India's first integrated agri-export facility to come up at Jawaharlal Nehru Port, Mumbai
The Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, approved a significant project for the Jawaharlal Nehru Port Authority (JNPA) valued at Rs. 284.19 crore. This project aims to develop an Export-Import cum Domestic Agricultural Commodity-Based Processing and Storage Facility at JNPA, to be executed on a Public-Private Partnership (PPP) model.
Ship leasing in GIFT city to get a boost from variable capital company structure proposal
The central government's upcoming ship owning and leasing entity is set to gain from new permits for companies with a variable capital structure, as announced in the Union Budget 2024-25. Initiatives such as this are part of broader reforms aimed at revitalizing the Indian shipping industry, which has seen a decline in its share of overseas cargo over the decades.
Budget 2024: Reforms flow to put wind in shipping industry's sails
India's sweeping shipping reforms aim to create jobs and remove customs duties on vessel components and warship spare parts. Supported by Nirmala Sitharaman and Sarbananda Sonowal under Maritime India Vision 2047, they include leasing, cruise tourism, tax exemptions, simpler foreign shipping company tax regimes, IFSCA links, and addressing low overseas cargo share through shipbuilding repairs and a presumptive taxation regime.
Budget aims to position India as a global leader in maritime innovation: Minister Sonowal
The Union Budget 2024-25, presented by PM Modi and FM Sitharaman, focuses on maritime innovation, job creation, economic growth, and shipping reforms. It includes MSMEs, cruise tourism, shipbuilding, GST simplification, MAKV 2047, inclusive banking, Northeast development, Assam flood management, Pradhan Mantri Janjatiya Unnat Gram Abhiyan, heavy engineering, and boosts agriculture benefiting 'Annadata'.
Must Watch
Shipping sector gets a boost from Budget 2024
The budget also extends the period for exporting goods imported for repairs from six months to one year. Additionally, the time-limit for re-importing goods for repairs under warranty is increased from three years to five years.
India has made significant progress in global logistics rankings, according to the Economic Survey for 2024
The Economic Survey 2024 highlighted significant advancements in India's logistics sector, including improved global rankings, digitalization efforts, and efficiency gains. Key initiatives like PM Gati Shakti and National Logistics Policy have contributed to enhanced competitiveness and trade facilitation.
Indian coast guard ships battle fire aboard vessel in Arabian sea
Three Indian Coast Guard ships responded to a distress call from the cargo vessel MV Maersk Frankfurt, which reported explosions on its front deck in the Arabian Sea. The ships Sujeet, Sachet, and Samrat fought the fire for over 12 hours, preventing its spread. The operation, amid rough seas and inclement weather, involved aerial assessments and additional resources for search and rescue efforts. No casualties were reported.
Tips to be vigilant and protect from courier fraud
Post-pandemic courier frauds exploit technological trust. Fake officers demand payments for seized parcels. Warning signs include unsolicited payment requests, misspellings, and prize claims. FedEx, with law enforcement, highlights not sharing sensitive details. Critical measures include awareness initiatives, elderly education, direct verification, reporting fraud via cybercrime.gov.in, and disconnecting suspicious calls.
Great Nicobar port to get LNG power plant, international airport
The new airport is expected to be set up by the Airports Authority of India (AAI), while NTPC will set up the LNG power plant, a senior official aware of the plan told ET.
Adani upbeat on its India ports biz, expects volumes to double in 5 years
The ports business has been seeing exponential growth in the past few years, and Adani expects the trajectory to continue. "Currently, the split between our ports and logistics segment is 70:30, and we expect the same to continue because while our logistics segment is growing, so is our ports segment, and that too at a much faster pace," he said. Revenue from the ports segment grew to Rs 20,972 crore in FY24, from Rs 17,304 crore in the previous year. On the other hand, revenue from the logistics segment grew to Rs 2,079 crore from Rs 1,744 crore in the same period.
