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Hamburg Süd Appoints Poul Hestbaek As The New Ceo German shipping line Hamburg Süd has announced the appointment of Poul Hestbaek as its new CEO, replacing Arnt Vespermann who will leave the company by the end of the first quarter. Hestbaek has been with the Hamburg Süd, now part of Maersk Group, since 2004 and is currently chief commercial officer. Vespermann joined the company in 1999 and he has been a member of board since 2009 and chief executive since late 2017. Adani Group Chooses To Invest In West Container Terminal The Adani Group has itself indicated that it would be keen to put its money in the West Container Terminal (WCT). The row has intensified, and diplomatic relations have ragged ever since Sri Lanka unilaterally cancelled an agreement with India and Japan over the East Container Terminal (ECT) of Colombo port. Sri Lankan minister has added a new twist to the debate by claiming that the main Indian investor, the Adani Group, has itself indicated that it would be willing to put its money in the West Container Terminal (WCT), since it could be a better commercial prospect. The project came under opposition pressure in Sri Lanka ahead of the parliamentary polls in the country in July 2020. Sri Lanka had at the time assured India that New Delhi and Japan would get the go-ahead after the elections to develop the project, but it had to be “expedited” as it was crucial for all stakeholders. Popular Global Ports Are Missing Digitalization While advocates of digitalization predicted strong gains as ports and the logistics chain realized the benefits of the new technologies, it appears much of the advancement has been limited to the largest ports. While digital technologies are being promoted as a tool to improve productivity, reducing the movement of paper and even direct interaction in the age of COVID, most ports are yet to get the new technologies and the increasing digital divide is creating new risks for shipping and logistics. Of the 4,900 ports worldwide, the majority are yet to introduce digital technologies even for the most basic of functions reports Innovez-One, a provider of port management software. They report that 80 percent of ports continue to use manual, legacy solutions. Beyond not having the capabilities to use digital technologies such as an eBill of Lading, they report that ports are still relying on spreadsheets or even something as simple as a whiteboard to manage critical marine services such as towage, pilotage, and launch boats. Lack Of Shipping Containers On High Seas Is Hurting India’s Exports Shipping ministry officials say the government is keen to set up a container manufacturing facility in the country. A high-level meeting was held recently to review its feasibility. The promoter of one of India’s largest seafood exporters has seen firsthand how the business—to pack shrimp and squid to the US and Chinese markets—has been throttled by an unprecedented shortage of shipping containers. Restrictions imposed on Imports to promote to self-dependence have created an imbalance in the availability of containers for exports due to which China’s quick recovery is pushing up trade costs. Scarcity has been a heavy blow for Indian shippers scrambling to keep pace with a stronger-than-expected export turnaround following the lifting of COVID-19-related lockdowns. Net Profit Drops 55% To Rs 132 Cr As Per Shipping Corporation Q3 Results The Shipping Corporation of India NSE -3.20 % on Friday reported a 55.4 per cent decline in consolidated profit at Rs 131.57 crore for the quarter ended December 31, 2020. The company had posted a consolidated profit of Rs 295.24 crore in the corresponding quarter of previous fiscal, Shipping Corporation of India said in a filing to BSE. The consolidated income of the company dropped to Rs 872.82 crore in the quarter under review from Rs 1,275.48 crore earlier, the filing said. Sources: https://splash247.com/hamburg-sud-appoints-new-ceo-as-vespermann-steps-down/ https://www.maritimegateway.com/adani-opts-for-west-container-terminal/ https://maritime-executive.com/article/majority-of-global-ports-are-missing-out-on-digitalization https://www.livemint.com/news/india/scarcity-on-high-seas-hurting-india-s-exports-11612706942885.html https://economictimes.indiatimes.com/markets/stocks/earnings/shipping-corp-q3-results-net-profit-drops-55-to-rs-132-cr/articleshow/80711445.cms