Huge discount in haulage rate for empty containers

To draw more containerized traffic, the Ministry of Railways has come out with an innovative policy intervention which tends to respond to empty container transportation worries of the operators. It has announced a discount of 25% on extant haulage rate per Twenty Feet Equivalent Unit (TEU) on transport of empty containers as well empty flat container wagons in order to facilitate movement of containers by rail towards ports, thereby leading to higher loading by rail from ports. It is expected to enhance efficient handling of traffic at ports and attract…

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Nearly 100% jump in major ports capacity

During the course of this decade, the port capacity in the country has jumped by a staggering margin. According to a recently released paper by the Ministry of Shipping which highlights the positive impact of measures like amendment of Model Concession Agreement, revision of tariff guidelines and Ease of Doing Business, the port capacity in the country has shot up from around 745 million tonnes in 2012-13 to a commendable 1451 million tonnes at the end of 2017-18. The cargo traffic growth has also been in tandem with the capacity…

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Flat trends in exports growth

Exports in November 2018 were US $ 26.50 billion, as compared to US $ 26.29 billion in November 2017, exhibiting a positive growth of 0.80 per cent. Cumulative value of exports for the period April-November 2018-19 stood at US $ 217.52 billion (Rs.15,14,369.74 Crore) as against US $ 194.93 billion (Rs.12,57,811.49 Crore) during the period April-November 2017-18, registering a positive growth of 11.58 per cent in Dollar terms (20.40 per cent in Rupee terms). Non-petroleum and Non Gems and Jewellery exports in November 2018 were US $ 18.57 billion, as…

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Patna becomes a major station on waterways cargo circuit

Bihar’s capital Patna witnessed  a new landmark in India’s Inland Water Transport (IWT) sector with 16 TEUs of container cargo (equivalent to 16 truckloads) belonging to food giants PepsiCo India and Emami Agrotech from Kolkata reaching the city’s Gaighat IWT terminal on river Ganga last Friday. The 815 kms long voyage was a momentous one with the opening up of Kolkata-Patna as a new Origin-Destination pair on Inland Waterways.Plans are also at an advanced stage to operationalise Patna-Varanasi sector of NW-1 for container cargo movement. The Ministry of Shipping is…

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Double-digit containerized trade growth in July-September

India’s containerised trade with the world grew 10% in Q3 as against the same quarter in the previous year. According to the latest trade report released by Maersk, improved demand in various destination countries has propelled exports to grow at 10% year-on-year. The demand for India-made goods such as vehicles and mechanical appliances; as well as refrigerated cargo such as onions, meat, seafood and pharmaceuticals have driven exports.Simultaneously, imports have risen 9% year-on-year, largely dominated by a heavy inflow of paper, metal and white goods. Overall, the containerized market has displayed…

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Govt targets $60 billion agriculture exports by 2022

The Union Cabinet recently approved the new agriculture export policy which aims to double the exports of Indian agricultural produce by 2022 – from the current $30 billion level to $60 billion by 2022. The initiative is also aligned with the larger objective of the government to double the income of the farmers in the next four years. The policy would seek to diversify  exports basket with a special focus to boost high value and value added agricultural exports including focus on perishables. It has also provisioned promoting novel, indigenous,…

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High Security Registration plates to become mandatory from April

All new vehicles will be sold pre-fitted with High Security Registration Plates – HSRP from the 1st of April next year. The Ministry of Road Transport & Highways has notified amendments in Central Motor Vehicles Rules, 1989 to this effect. T he notification mandates that the High Security Registration Plate including the third registration mark shall be supplied by the vehicle manufacturers along with the vehicles manufactured on or after the 1st day of April, 2019 to their dealers and dealers shall place a mark of registration on such plates and affix them…

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WOW Air arrives in India

WOW air, the recently launched Icelandic low-cost long-haul airline began its operations from New Delhi last week with its inaugural flight being flagged off from Indira Gandhi International Airport. The airline will operate three weekly flights from New Delhi, connecting passengers to North America and Europe through their hub in Iceland (KEF).   WOW air serves a number of destinations from New Delhi including Chicago, Orlando, New York, Detroit, Baltimore, Boston, Pittsburgh, Los Angeles, Washington DC,  in the US; Toronto & Montreal in Canada and Reykjavik in Iceland. WOW air…

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Modest growth in core industries index

The eight core industries that comprise 40.27 per cent of the Index of Industrial Production (IIP) stood at 134.8 in October, which was 4.8 per cent higher as compared to the index of October, 2017. Its cumulative growth during April to October, 2018-19 was 5.4 per cent. Coal production increased by 10.6 per cent in October but crude Oil production declined by 5.0 per cent and there was a marginal decline of 0.9 percent in natural gas production too. Refinery products rose by a small 1.3 percent margin whereas Fertilisers…

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Recent reforms to benefit transporters

Union Minister of State for Road Transport & Highways, Shipping and Chemical & Fertilizers Mansukh Mandaviya has said that major initiatives have been taken in the transport sector for the benefit of transporters and citizens. Speaking in New Delhi recently, he said, by increasing the Axle load of trucks by 20 to 25 per cent, their load carrying capacity has increased phenomenally. It has not only added to the income of transporters, but has also resulted in lesser pollution. The Minister said, in view of modern technology in automobiles, fitness test requirement…

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