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…

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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…

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DP World-CDPQ to further expand investment platform

Global logistics giant DP World and institutional investment major Caisse de dépôt et placement du Québec (CDPQ) have announced further expansion of their ports and terminals investment platform through a new commitment of US$4.5 billion.  This has enhanced the total size of the platform to US$8.2 billion. DP World holds 55% share of the platform, and CDPQ the remaining 45%. Since its launch in December 2016, the platform has invested in 10 port terminals globally and across various stages of the asset life cycle. The enhanced platform will continue to…

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Major ports to use only Indian built tug boats

The Ministry of Shipping has directed all major ports to procure or charter tug boats which are only made in India.  All procurements being done by major ports would now need to be carried out as per the revised ‘Make in India’ order. The Ministry of Shipping is aiming to promote Indian shipbuilding industry and also have discussion with some leading countries for Make in India shipbuilding.  Union Minister of State for Shipping Mansukh Mandaviya said that the Government is taking 360 degree actions to revive old shipyards and promote…

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Western Coalfields to double rail despatch

Western Coalfields Ltd. (WCL), a subsidiary of Coal India Ltd.(CIL) has drawn an ambitious roadmap to almost double its coal despatch capacity through rail mode to meet additional demand of consumers of Power Sector. Company has set ‘Mission 100 Days’ agenda to streamline activities to reach peak despatch of 50 rakes per day from January, 2021 with support from Railways. WCL had recently offered additional coal to Power consumers of Central, West & South India at cheaper landed price. On discussion with State Gencos of Maharashtra, Gujarat, Karnataka, Madhya Pradesh, NTPC & IPPs, WCL expects additional coal…

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Discounts, concessions help railways boost freight operations

Covid-19 challenges notwithstanding, the freight division of the Indian Railways has performed well in the recent months managing to do better than the last year corresponding period figures. And according to a recent official release, while the agency has been pro-active in responding to transportation of essentials during the hard times, better performance has also resulted from a series of discounts and concessions which Indian Railways offered to its freight customers. These include: 5% discount on loaded containers ( addition to 25% on empty ), discount for Pond ash/ Moisturised…

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Hotel Association, Naukri.com join hands to create alternate livelihoods

The Hotel Association of India (HAI), the apex body of the hotel industry in India and an integrated hospitality industry platform has entered into a partnership with Naukri.com to create alternative livelihoods and opportunities for the impacted workforce of HAI member hotels. HAI and Naukri.com have entered into a Memorandum of Understanding to assist those whose jobs have been affected due to ongoing Pandemic COVID-19. With this partnership, HAI and Naukri.com have laid the ground to support over 300,000 people whose jobs were eroded during the pandemic due to the spiraling negative impact…

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Railways respond to Covid-19 challenge with improved freight traffic

Responding to the mission of restoring normal supplies after the lockdown imposed early this year due to Covid-19, Indian Railways has achieved a significant milestone improving its freight traffic in the same period last year. According to a ministry release, on 19 August 2020 the freight loading was 3.11 million tonnes which is higher than last year for the same date (2.97 million tonnes). In the Month of August 2020 till 19 August 2020, the total freight loading registered was 57.47 million tonnes – higher by nearly four million tonnes…

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Exports decline moderates in July

According to a recently released exim trade data, after showing massive decline during the first quarter due to Covid-19 effect, exports decline somewhat moderated in the month of July. Exports in July stood at $23.64 billion, as compared to $26.33 billion in July 2019, exhibiting a negative growth of (-) 10.21 per cent. Major commodities which have recorded positive growth during July 2020 vis-à-vis July 2019 are: Other cereals  (204.99%), Rice (47.99%), Iron ore (39.61%), Oil seeds (32.61%), Oil meals (28.44%), Meat, dairy & poultry products (22.14%), Fruits & vegetables…

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Heavy reduction in port tariff for cruise ships

Ministry of Shipping has rationalized tariff rates for the Cruise vessels. The net effect of the rate relaxation would be an immediate reduction in port charges ranging from 60% to 70%, which will give substantial relief to the cruise industry in India, in line with the government policy to support the economy in COVID-19 pandemic situation. As per the new tariff mechanism,  the port charges for a Cruise Ship will be charged at $0.085 per GRT (Gross Registered Tonnage) instead of $0.35 of current rate, for first 12 hours stay…

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