Blogs

Maersk Has Openly Declared The Cancellation Of All Blanked Sailings On The Transpacific Maersk has been consistent in delivering a high-rated performance by being the world’s largest container line and it has recently decided to cancel all blanked sailings on the transpacific owing to the rising import volumes as has been observed in North America for a period of no less than 60 days. Over the past few weeks, the record spot rates as connected to the transpacific and the west coast has caused a lot of unrest and have triggered a state of alarm in the United States of America, South Korea as well as China. Throwing light on this raging issue coupled with the unpredictable maritime scenario in the wake of the Coronavirus pandemic, the Maersk customer advisory has come to the conclusion that there is a high probability that the current strong markets will continue till at least November 2020. Following Maersk’s lead, a majority of container lines across the globe are most likely to bring forth the cancellation plans of all blanked sailings concerning the transpacific region in the near future. There is a good chance for carrier-based companies to aim for higher long-term contract rates given the current prospects in the global maritime trade. The Indian Government Has Future Plans Of Making The Indian Maritime Industry More Competitive As Well As Attractive For Customers The Indian Government has highlighted a series of upcoming plans and projects to take the shipping industry a notch higher by making it more attractive as well as competitive. As we are aware of, the tonnage of vessels have come a long way from 11.55 MT to 12.68 MT as certified by the Minister of State for Shipping (Independent Charge) for the Lok Sabha. Over the past few years, the Government has been actively following some newfangled measures that include providing extensive cargo support to the shipping industry via the Right of First Refusal and by reducing GST charges from 18 percent to 5 percent as applicable on bunker fuel applied in Indian flag vessels. Plus, the Indian Government has granted permission to the country-based shipping enterprises to acquire vessels abroad and also to be able to flag them in the country as per their need and convenience. The measures have also gone a long way in ushering parity in the tax routine of the Indian marine professionals as employed on Indian flag vessels. Apart from the aforementioned changes, the Government has also made a conscious effort in eliminating the licensing requirement for chartering foreign-registered vessels as an attempt to boost the coastal movement of agriculture, empty containers, ex-im laden transshipment containers, fertilizers and other commodities. Indian Shipping Industry Witnesses A Sudden Surge In Trade Balance In The Wake Of The COVID-19 Pandemic The Indian maritime arena is now undergoing a positive phase as the trade balance is finally starting to normalize with a sudden boost in both exports and imports after a dull, unproductive period owing to the Coronavirus pandemic that has gripped the whole world in a state of fear, anxiety and pressure. Our country is gradually picking up the trade balance and covering the unavoidable trade deficit that had lured into a lull phase over the past few months since the start of 2020. On an encouraging note, there is a strong surge in the export growth of pharmaceutical products, iron ore and food products. In spite of the numerous challenges put forth by the strange COVID era, the trade is gradually regaining its momentum and is likely to achieve surplus in the coming days as well. Chennai Port Decides To Allow Extra Carrying Time For Two Major Terminal Operators - PSA Singapore And DP World Chennai Port has taken a bold decision to extend the carrying time for two global terminal operators (PSA Singapore and DP World) from the usual five days to seven days instead after the port authorities thoroughly analyzed the movement of export containers along with the above-mentioned terminal operators. This action will surely prove to be beneficial in allowing more time and space to the exporters for moving their trailers in an attempt to steer clear of the congested rush during the peak hours. The Port Chairman is also looking forward to reducing the congestion during busy hours by requesting the stakeholders, exporters, vessel operators and custom brokers as well as the terminal operators to work round the clock as an effective solution. The Sleek AI And Solar-Powered Mayflower Has Been Launched In Plymouth For A Transatlantic Crossing In The Near Future A brand-new, sleek AI-powered and solar-charged, 50-foot Mayflower Autonomous Ship (MAS) saw its launch in Plymouth and the advanced, hi-tech trimaran can perfectly operate on its own without any human intervention. The solar-powered trimaran is gearing up for its much-awaited transatlantic journey next year from Plymouth in England to Plymouth in Massachusetts. In the coming six months, the vessel will go through various sea trials and research missions before it sets sail on its transatlantic voyage. Sources: https://splash247.com/maersk-cancels-all-blanked-sailings-on-the-transpacific/ http://www.eximin.net/NewsDetails.aspx?name=45191 http://www.maritimegateway.com/trade-recovers-months-weak-import-demand/ http://www.maritimegateway.com/chennai-port-extends-carrying-time-dp-world-psa-singapore/ https://www.marinelink.com/news/ai-solarpowered-autonomous-ship-mayflower-481779