On increasing its stake in Snowman Logistics, Gateway Distriparks CMD Prem Kishan Gupta told CNBC TV18, ‘At one point we wanted to sell Snowman Logistics.’ However, now it is performing well and Gateway will increase its stake in the company as and when the cash flows allow. Following an interaction with the senior management of […]
MUMBAI : Man Infra construction Ltd. on Friday said that it has bagged an order worth Rs 680 crore from Bharat Mumbai Container Terminal Pvt. Ltd. for infrastructure-related works at Jawaharlal Nehru Port Trust (JNPT) in Maharashtra. The company will execute phase-2 infrastructure works at the fourth container terminal of JNPT in Navi Mumbai […]
Maersk, which has been leading the shipping industry in the efforts to adopt methanol as a marine fuel, is planning the next major step, the conversion of an existing vessel to dual-fuel methanol capabilities. The shipping giant reports that engineer work is underway and discussions with potential shipyards for a conversion expected to take place […]
IMPORT demand in the US and Europe has fallen steadily since the summer, with market indicators all pointing to continued weakness into 2023, says Xeneta＊s CEO Patrik Berglund, reports IHS Media.“As more and more long-term contracts expire in the new year, all indicators point towards considerable rate drops from today＊s levels, with several of the […]
India is working out a plan to ramp up cargo handling capacity of its ports four fold to 10,000 million tonnes per annum (mtpa). A comprehensive ports master plan will spell out the target to be achieved by 2047, coinciding with 100 years of India’s Independence, a senior government official told ET.
In an industry-leading move, South Korean liner HMM has opened a dedicated container train service from North India (ICD Tughlakabad) to Kattupalli Port, an emerging gateway near Chennai. “With extended support from its service partner – Container Corporation of India (Concor), HMM has launched a new, direct rail service from ICD Tughlakabad to Kattupalli Port, […]
To strengthen the viability of goods produced in the state by reducing logistics costs from 13% to 8%, the Punjab Government is in the process of finalizing the state’s logistics policy. The Integrated Logistics and Logistics Park Policy is getting its final touches from the industries and commerce department for approval from the state cabinet. […]
CONTAINER freight rates on major trades out of India have hit new lows in November amid falling cargo volumes, reports Athens’ Container News.On the westbound India-Europe trade, average contract rates from West India to Felixstowe/London Gateway (UK) or Rotterdam (the Netherlands) have fallen to US$2,300 per TEU from $3,500 and $2,450 per FEU, from $4,000 […]
Copenhagen – A.P. Moller – Maersk (Maersk) and IBM today announced the decision to withdraw the TradeLens offerings and discontinue the platform. TradeLens was founded on the bold vision to make a leap in global supply chain digitization as an open and neutral industry platform. Unfortunately, while we successfully developed a viable platform, the need for […]
There is a lot hue and cry happening in the exporter circle about the withdrawal of exemption of goods and services tax (GST) on international outbound ocean and air freight. Amid the looming threat of the global recession, most of the exporters are in fact assuming further squeeze in the margins, as GST exemption has […]