Blogs

The Spot Rates Finally Undergo A Growth By 25% On The Asia-Europe Container Tradelane The spot rates on the Asia-Europe container trade lane had been lagging behind the transpacific rates for a long time and have now been able to rise up by an incredible growth curve of 25% as predicted earlier by analysts. Throwing light on the matter, the Shanghai Containerized Freight Index (SCFI) has recently published a commendable leap of $447 per teu to $2,091 shooting upto 27% within seven days amid the problematic conditions like limited availability of necessary equipment and rigid capacity levels. Following this spike, the Asia-Mediterranean rates also reported sustainable growth. The well-known consultancy Sea-Intelligence has highlighted through recent data that liners now prepared to increase the transpacific capacity year-on-year by 27.3% in the month of December. Adani Ports Signed a 30-Year Agreement With Special Economic Zone Ltd. To Handle Crude Imports By HPCL Adani Ports has finally given the green signal to a 30-year deal with Special Economic Zone Ltd. (APSEZ) to effectively handle the crude imports by Hindustan Petroleum Corporation Ltd. (HPCL) for supervising the upcoming refinery and petrochemical complex in the Barmer district of Rajasthan. Rajasthan Refinery Ltd. will surely be promising as a brand-new refinery and petrochemical project (based on 9 million tons per annum) that is being built under the banner of Hindustan Petroleum Corporation Ltd. with funding of an incredible sum of Rs.43,129 crores. The famous Mundra Port, the biggest commercial port in the country) in Gujarat will be responsible for handling the crude imports by HPCL in the near future. An Indian Company Receives Permission For Supervising The East Container Terminal At Colombo Port The Sri Lankan Cabinet has decided on granting the preliminary approval to an India-based firm to preside over the day-to-day operations at the strategic East Container Terminal at the Colombo Port, although the agreement is yet to be approved by the Sri Lankan Government. The largest private multi-port operator in India, the Adani Ports and Special Economic Zone has been considered as the main contender in securing the managing authority of the well-established East Container Terminal at Colombo Port. The Sri Lankan Ports Authority is impressed by the brilliant performance put forward by the East Container Terminal that is now fully functional and is rather adept at providing space to mega-ships. Cochin Shipyard Gains A Milestone After Announcing The Plate Cutting Ceremony For Two Autonomous Electric Vessels The Cochin Shipyard has carved out a special niche in the Indian maritime scene as the largest shipbuilding and maintenance facility and now it has also bagged a new feather in its cap by organizing a plate cutting ceremony for two autonomous electric vessels, which are well-equipped to provide services for ASKO Maritime AS in Norway. The plate cutting event marked the initial step of the vessel construction procedure as the Cochin Shipyard has successfully signed contracts for building two autonomous electric vessels as well as looking forward to the launch of two more identical electric ferries in 2020 itself. The 67-metre long ferries will prove to be beneficial in preserving our precious environment by following the zero carbon emission regulations on the commencement of the services. The Ministry Of Shipping Has Given Permission To Foreign Crew To Sign-On And Sign-Off At India-Based Ports The Ministry of Shipping, Ports and Waterways has released a new circular that allows foreign crew (and not just Indian seafarers) to sign-on and sign-off at the Indian ports as an attempt to aid the crew change operations in the global maritime industry. The need for this bold decision came after the Ministry accepted the representations from reputed organizations like the International Maritime Organization, the International Labour Organization, the International Civil Aviation Organization, and the International Chamber of Shipping to boost the smooth flow in the supply chain along with facilitating crew change at seaports. Sources: https://splash247.com/rates-shoot-up-25-in-just-one-week-on-asia-europe-tradelane/ http://www.maritimegateway.com/adani-ports-handle-crude-imports-hpcls-upcoming-refinery-rajasthan-2/ http://www.maritimegateway.com/sri-lanka-cabinet-backs-handing-strategic-port-terminal-indian-firm/ http://www.maritimegateway.com/cochin-shipyard-gains-conducting-plate-cutting-ceremony/ http://www.eximin.net/NewsDetails.aspx?name=4588