Blogs

Drewry’s World Container Index Witnessed A Sharp Rise In The Wake Of The Covid Pandemic As the world battles against the COVID 19 pandemic, the World Container Index by Drewry experienced a steep surge since the beginning of its journey in 2012. Drewry predicts that the rates will rise sharply in the coming week as put forward by the UK analysts. On the other hand, the Shanghai Containerized Freight Index made its way up by acquiring 37 new points to make a record of 3,785. The Nargol Port Project In South Gujarat Is Likely To Acquire 3,800 Crores Of Investment In The First Phase The Nargol Port Project based in the Valsad district of South Gujarat is being built in a way that it is well-equipped to deal with solid, liquid, and container cargo in the near future. The port project is likely to attract 3,800 crores of funding for the first phase of the construction. After undergoing an unsuccessful attempt to develop the Nargol port project in South Gujarat, the state government devised a new strategy to sanction its “in-principle” approval and develop the port through a global bidding procedure. Back in 2012, a formal association was formed by Cargo Motors Pvt Ltd and Israel Ports Co to build the Nargol port, but it failed to complete the project within the suggested time frame. The government is sanctioning a BOOT (Build, Own, Operate, and Transfer) time period of 50 years, which is a welcome change from the usual 30 years as assigned for an advanced greenfield port development. Adani Ports And Special Economic Zone Might Abandon Myanmar Project If It Leads To Violation Of U.S. Sanctions Adani Ports and Special Economic Zone (APSEZ) is currently focussed on a maritime project to construct a Yangon-based container terminal on land that has been leased from a military-owned conglomerate from Myanmar. APSEZ has firmly decided that it might abandon the Myanmar project if it causes a violation of U.S. sanctions. Gateway Rail Freight Ltd Gives The Green Signal To The Inaugural ‘Maersk Sprint Service’ Based On Solar Imports Gateway Rail Freight Ltd (more commonly referred to as the GatewayRail) has earned a good reputation by becoming a major private container train operator in the country and has now received the inaugural ‘Ship To Rail - Maersk Sprint Service’ that caters to the demands of solar imports. Emerging from the Pipavav Port, the ship-to-rail service has successfully transferred 180 teus of solar PV panel imports as designed for ICD Ahmedabad. The new-age GatewayRail service is transforming the present scenario of solar imports with frequent train services from APM Terminals Pipavav and to offer well-connected trading operations in Ahmedabad. GatewayRail is in charge of supervising four weekly import-based services by Maersk along with a weekly train in the export direction from ICD Faridabad to Pipavav Port. The Maersk-Automotive Express has been specially launched to fulfil the requirements of the automobile sector in NCR in import and export conditions. Gateway Rail Freight Limited is an industry expert at providing intermodal logistics solutions from Inland Container Depots connected via rail at a Domestic Container Terminal in Navi Mumbai and in well-developed regions like Gurgaon, Viramgam, Faridabad and Ludhiana. MPC Container Ships Plans To Take Possession Of Norway-Based Container Shipping Organization Songa Container AS MPC Container Ships ASA has made the news public that it has finally signed an agreement to acquire Norwegian container shipping organization Songa Container AS for $210.25 million and the deal will allow MPCC to seal the transaction by July 2021. According to the agreement, MPCC will be the owner of Songa’s existing fleet of 11 container vessels that will lead to a combined fleet comprising 75 ships and a total capacity of 158,000 teus. It has been announced that nine of the container vessels are well-fitted with high-tech scrubbers and the remaining are designed with the highest ice-class. Sources: https://splash247.com/drewrys-world-container-index-experiences-its-steepest-ever-climb/ https://www.maritimegateway.com/bids-invited-for-nargol-port/ https://www.maritimegateway.com/adani-may-abandon-myanmar-project-if-it-violates-us-sanctions/ http://www.eximin.net/NewsDetails.aspx?name=48111 https://www.marinelink.com/news/mpc-container-ships-acquire-songa-488645