GST Notifies section 123 of the Finance Act 2021 to be in force from 1st Oct 2023 – Change in Section 16 of IGST Act, related to Zero rated supply Section 16 of the IGST Act, which defines the Zero Rated Supply and provides option to exporter to export either under LUT or under Paid […]
BERLIN, Aug 1 (Reuters) – German logistics and mail group DHL (DHLn.DE) reported a slide in quarterly revenue and earnings on Tuesday due to a slump in freight volumes and prices, and warned of economic uncertainty ahead. Shares in DHL dropped 4% to 44.85 euros by 0807 GMT after the group said revenue fell by just over […]
Copenhagen, Denmark – A.P. Moller – Maersk (Maersk) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to […]
The Ministry of Coal is developing a logistics policy for the sector and a national coal evacuation plan with a view to reducing logistics costs, an official statement said on Saturday. An inter-ministerial meeting on logistics was held to review the progress of implementation of the national logistics policy, the statement said adding that it […]
With the growth in container handling at New Mangalore Port (NMP) in Mangaluru over the past few years, stakeholders are now focusing on strengthening other infrastructure in the region. After JSW Infrastructure operationalized a mechanized container terminal at NMP in April 2022, it handled 1.65 lakh TEUs of containers in 2022 23 (as against 1.52 lakh […]
The Gurugram-based ACME Green Hydrogen and Chemicals Pvt. Ltd. is setting up a green ammonia and green hydrogen factory in the port town of Thoothukudi, Tamil Nadu, at a cost of ₹52,474 crore. This will be one of the largest such plants in the world, said the company’s founder, Manoj Kumar Upadhya, at the Tamil […]
India is drawing up a project worth $1.46 billion to develop an inland water transport corridor in the east of the country, primarily for use of finished products like steel, sponge iron, aluminum and fertilizer, a government official said on Thursday, July 20. The project is being spearheaded by state-run agencies like Coal India (India) […]
In a remarkable stride towards bolstering the ‘Make in India’ campaign, Econship, a leading player in the shipping & NVOCC sector, has recently procured its first batch of new build containers in India. This significant development not only promotes the government’s ambitious initiative but also serves as a litmus test for the quality of manufacturing […]
Global container trade volumes have experienced a modest decline of 2% y-o-y in Apr-May 2023. However, there is positive growth in India’s major ports’ volumes and container volumes, which have increased by 2% y-o-y in Apr-June 2023. Railway volumes and container volumes have also witnessed a 1% y-o-y increase, although indicating a slight deceleration in […]
NEW DELHI: India’s exports contracted by 22%, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especially in the Western markets like the US and Europe. According to the data of the commerce ministry, the trade deficit in June stood at $20.3 billion against $22.07 […]