Blogs

RCL Moves Beyond Its Feeder Roots With Acquisition Of 12,000 TEU Boxship Company Thailand’s Regional Container Lines (RCL) is transitioning from its feeder origins, having just snapped up its largest ships to date. RCL has bought two 12,000 teu ships under construction for $115m each from Japanese tonnage provider Kyosei Kisen. The ships will deliver towards the end of next year and at the beginning of 2023. RCL has had a busy year, expanding its fleet, taking on six ships so far. Taliban Stop Trade With India The Taliban have stopped all imports and exports with India after entering Kabul and taking over the country on Sunday. Dr Ajay Sahai, Director General (DG) of Federation of Indian Export Organisation (FIEO) told ANI that currently, the Taliban has stopped the movement of cargo through the transit routes of Pakistan, thereby stopping imports from the country. Indian exports to Afghanistan are $835 million in 2021, while imports are worth $510 million. India has invested $3 billion in Afghanistan and currently has around 400 projects, some of which are in progress. CBIC Aims At Seamless Clearance Of Export Cargo There should not be any hold-up of export cargo and processes that are a hurdle to exports should be examined and, where possible, eliminated or streamlined, said CBIC Chairman Mr M. Ajit Kumar in communication to officers of the Department, is learned. Such a strategy is critical at a time when the government has set a target of achieving $400 billion of merchandise exports during the current fiscal year, $500 billion for FY23, and $1 trillion by FY26. Therefore, it is important to further streamline procedures and ensure that the processes are glitch-free and facilitate exports. The policy wings of the CBIC should engage with the Custom Houses and investigative agencies to iron out issues, if any, at the earliest, he added, as per a report. DBS Bank India Partners With Odex To Provide Hassle-Free Credit Solutions To Freight Forwarders DBS Bank India announced that it has partnered with ODeX, one of India’s leading platforms to exchange shipping documents and facilitate payments, to introduce ODeX Pay Later Solutions powered by DBS. ODeX customers can access comprehensive payment and financing solutions through the partnership for all their ocean shipping transaction needs. This partnership is expected to benefit over 8,500 freight forwarders, aligning with DBS’s commitment to financing local businesses and supporting livelihoods. Freight forwarders usually receive payments from their customers, comprising importers and exporters, after completing service. However, they must pay shipping lines, port terminals, container freight stations and other stakeholders up front to clear the cargo on time, which impacts their working capital. DBS recognized this gap and designed a financing solution that is digital, contextual, seamless, and removes friction from the overall payment process. DP World Has Completed Successful Trial Of Boxbay High Bay Storage System DP World has completed testing of the BOXBAY high bay storage concept at the first full-size facility constructed at the port of Dubai, proving that the innovative technology works in the real world. More than 63,000 container moves have been completed since the facility, which can hold 792 containers at a time, was commissioned to begin this year. The test exceeded expectations with BOXBAY faster and more energy-efficient than anticipated. The whole system is designed to be fully powered by solar panels on the roof. Sources: https://splash247.com/ https://www.maritimegateway.com http://www.eximin.net/ https://indiashippingnews.com