Motorola, owned by Lenovo, is increasing its manufacturing-related investments in India to help achieve its goal of doubling smartphone exports as well as the handset business in the country. The investments will be made to expand production capacity with its domestic contract manufacturing partner, Dixon Technologies. “We are exporting predominantly to the US. Manufacturing is […]
Japanese carrier ONE and Taiwan’s Yang Ming today issued a transpacific network update to apply following the departure of Hapag-Lloyd from THE Alliance (THEA) next February. The separate announcements from the carriers follows pressure from customers for clarification during negotiations for new annual transpacific contracts where their duration could extend beyond the date of the […]
India’s export earnings from petroleum shipments fell steeply during the first 11 months of fiscal year 2024 due to the global economic slowdown, a rise in domestic consumption, and shrinking discounts on Russian oil. During FY2023, India, despite not being a major petroleum producer, expanded its export markets for refined petroleum products helped by the […]
The VOC Port Authority in Tuticorinis inviting global bids totalling USD 942 Million (Rs. 7,056 crore) for an outer harbour project that includes construction of two container terminals. This involves preparatory work such as dredging and building a breakwater at the port, with a capacity to handle 4 million TEUs. This is line with the […]
The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal announced a major investment of more than Rs 645 crores to develop 10 waterways projects under the flagship Sagarmala programme of the Ministry of Ports, Shipping & Waterways. The projects will be implemented with 100% financial assistance from the central government to enhance terminals and […]
The World Shipping Council (WSC) has announced plans to develop a new Cargo Safety Program for the transport of dangerous goods, with the not-for-profit organisation National Cargo Bureau (NCB) to act as the independent provider of the initiative’s digital platform. NCB’s Hazcheck software is already used for the detection, inspection, and validation of dangerous cargoes. […]
Port industry says it’s a classic case of reckless port planning and development in the country as no proper scientific studies and prior environmental assessment has been carried out for Murbe Port, hardly 40 kms away from the planned Vadhavan Port MUMBAI: In a shocking illustration of reckless port planning and development, Maharashtra Maritime Board (MMB) has called global price bids on a so-called Swiss Challenge method to construct a new port […]
Given the recent events in the Red Sea, MSC has decided to divert its ships via the Cape of Good Hope to maintain the safety of the crew, cargo, and ship. This diversion will mean increases in transit time depending on the destination and/or trans-shipment point involved, it will have a global impact on MSC […]
Windfall tax: The Government of India on Monday slashed the windfall tax on petroleum crude to Rs 1,700 a tonne from 2,300 rupees a tonne, according to a government notification. The cut will be effective from Jan. 16, the order said. The tax, levied in the form of Special Additional Excise Duty or SAED, on […]
In the face of repeated calls from the exporters, Bangladeshi authorities have withdrawn value added tax (VAT) on port services for export-oriented industries to help businesses facing downturn amid the global economic crisis. The National Board of Revenue (NBR) had granted the provision of 15% VAT on port services for both imported and locally manufactured […]