New Merchant Shipping Bill seeks to initiate best practices

Ministry of Ports, Shipping and Waterways recently issued a draft of the Merchant Shipping Bill, 2020 for public consultation that aims to repeal and replace the Merchant Shipping Act, 1958  and the Coasting Vessels Act, 1838. According to a formal release, “the Merchant Shipping Bill, 2020 has been drafted,with the primary aim of promoting the growth of the Indian shipping industry by incorporating the best practices adopted by other advanced countries like the U.S., Japan, U.K., Singapore and Australia.” All up-to-date IMO conventions  or protocols, to which India is a…

Read More

Final draft of National Rail Plan to be released soon

National Rail Plan, 2030, a policy statement which among other things is also expected to provide direction for increase in the market share of Indian railways in the larger national transportation space, is expected to be unveiled in December. Speaking at a webinar organized by industry association Assocham recently, Railway Board chairman and CEO Vinod Kumar Yadav informed that final draft of national rail plan 2030 is ready and is likely to be released next month in December. “Vision 2024 is part of national rail plan 2030 which will be…

Read More

Ministry of Shipping gets new name

The government has renamed Ministry of Shipping as the Ministry of Ports, Shipping and Waterways (Pattan, Pot Parivahan aur Jalmarg Mantralaya) which signals its growing focus on coastal shipping and waterways. On 8th of November, Prime Minister Narendra Modi announced the renaming of Ministry of Shipping while addressing, through video-conferencing, the inaugural ceremony of Ro-Pax ferry service between Hazira and Ghogha in Gujarat. While making this historic announcement, the prime minister said “Now this Ministry will be known as Ministry of Ports, Shipping and Waterways. It is being expanded. In most…

Read More

Exports growth fall in negative territory again

After showing a single digit positive growth for the first time in this Corona pandemic affected fiscal in September,  India’s merchandise exports once again slipped in the negative territory in October. The total exports figure in October stood at $ 24.82 billion which marked a decline of 5.4 percent when compared to $ 26.23 billion in the same month last year. In October 2020, the value of non-petroleum exports was $ 23.21 billion, registering a positive growth of 1.84% over October 2019. The value of non-petroleum and non-gems and jewellery…

Read More

Government seeks comments from stakeholders on Coastal Shipping Bill

Ministry of Shipping has issued the draft of Coastal Shipping Bill, 2020 for suggestions from the stakeholders and general public. The draft bill has been uploaded on the Ministry of Shipping’s website and concerned stakeholders can submit their suggestions and opinions regarding the draft bill to coastalshipping2020@gmail.com latest by 06.11.2020. Among other things, the bill is slated to expand the definition of coastal shipping and coastal waters. It has also proposed to do away with the requirement of trading licence for Indian flag vessels for coastal trade. It will seek to create a competitive environment and…

Read More

Decks cleared for Assam’s first multi-modal logistics park

Union Minister for Road Transport, Highways and MSMEs Nitin Gadkari laid the foundation stone for country’s first Multi-modal Logistic Park at Jogighopa in Assam last week. The park will be built at an estimated cost of around Rs 700 crore and will provide direct air, road, rail and waterways connectivity to the people. The project will be developed under the ambitious Bharatmala Pariyojana of the Government of India. Assam’s first multi-modal park will be developed in an expansive land parcel of 317-acre land and its first phase is scheduled to…

Read More

Container shortage may spoil exports recovery

Non-availability of containers at the leading ports may spoil the recovery process for the export sector which has shown positive growth trends for the first time in September during the current Corona affected fiscal. Leading industry body of exporters, FIEO, in a recent release has maintained that container shortage is emerging as a serious concern for meeting delivery commitments of foreign buyers. Sharad Kumar Saraf, President, FIEO said that from the last couple of months, in spite of offering space for three to four weeks ahead, shipping lines are shutting out…

Read More

Exports register monthly positive growth for first time in 2020-21

After consistent dip for six months since the beginning of the current fiscal, the exports growth in the month of September has registered positive growth for the first time in 2020-21. The total exports figure in September stood at $27.4 billion which marks a growth of 5.27 percent. Reacting to September 2020 export figures, FIEO President, Sharad Kumar Saraf said that the monthly exports are showing signs of revival as gradual lifting of lockdown have further improved the business sentiments. Anti-China sentiments across the globe has also been one of…

Read More

DP World to develop trade links between UAE- Israel

DP World, the global logistics major, and Dubai Customs will be exploring opportunities to develop trade links between Israel and the United Arab Emirates, following the signing of a series of memorandums of understanding (MoUs). Group Chairman and CEO of DP World, HE Sultan Ahmed bin Sulayem, recently signed MoUs with DoverTower, a company owned by Shlomi Fogel, the co-owner of Israel Shipyards and Port of Eilat. Part of the engagement between the two countries to strengthen peace, dialogue and stability and promote sustainable development, the MoUs create a framework…

Read More

PM unveils 3 major petroleum projects in Bihar

Prime Minister Narendra Modi dedicated to the nation three key projects related to the Petroleum sector in Bihar on Sunday via video conferencing. The projects include the Durgapur-Banka section of the Paradip-Haldia-Durgapur Pipeline Augmentation Project and two LPG Bottling Plants. They have been commissioned by IndianOil and HPCL, PSUs under the aegis of the Ministry of Petroleum and Natural Gas. Speaking on the occasion, the Prime Minister said the Bhagiratha effort to connect eastern India with Paradip on the eastern seaboard and Kandla on the western seaboard began under the…

Read More