Chinese Buyers Snap up Indian Steel in Face of Trade Tensions
India's steel exports more than doubled between April and July to hit their highest level in at least six years, boosted by a surge of Chinese buying in defiance of tensions between Beijing and New Delhi.Traders said reduced prices had driven the purchases as Indian sellers sought to get rid of a surplus generated by the impact of COVID-19 on domestic demand and generate much-needed income.It was unclear whether the sales broke any trade rules, but the China Iron and Steel Associationā¦
Oldendorff Conducts Trial Transshipment in India
German shipping company Oldendorff Carriers has conducted a new transshipment operation of coal between two vessels, in the deep, protected water of the Andaman Islands within the Bay of Bengal, India. The Andaman Islands are an Indian archipelago in the Bay of Bengal. There are roughly 300 islands, which are known for their palm-lined, white-sand beaches, mangroves and tropical rainforests. However, it was the deep and protected water that attracted Oldendorff Carriers to the Andaman Islands. "Our geared panamax Trina Oldendorff (75,053 tdw built 2013) loaded 73,086 mt of coking coal from Gladstone, Australia and sailed to the Andaman Islands," a statement said.
Tata Steel to Sell Entire UK Operation
Britain's largest steelmaker Tata Steel Ltd is expected to announce the sale of its entire UK business, BBC reported citing union sources. Tata Steel's decision was made at Tuesday's board meeting in Mumbai, BBC said. Britain's steel industry has been struggling since European Union steel prices hit their lowest since 2004. Earlier in January, Tata Steel said it would cut 1,050 UK jobs including 750 jobs at Port-Talbot-based operations in Wales. About 4,000 British steel jobs were lost in October 2015 alone, equivalent to about a fifth of the sector's workforce. (Reporting by Sangameswaran S in Bengaluru; Editing by Bernard Orr)
Supply Chain & Logistics Excellence Awards A Big Hit
CII-Institute of Logistics, as a part of its continuous endeavor in driving excellence and enable in sharing best practices in logistics and supply chain management organized the maiden Supply Chain And Logistics Excellence (SCALE) Awards on 21 & 22 May 2014 at Mumbai. The Award comprised 10 categories in logistics service industry and 4 in user industry. Awards list enclosed. R Dinesh, Chairman, CII Institute of Logistics Advisory Council, Chairman SCALE Awards & JMD, TVS Sons Limited highlighted that āCII believes that this will be a step towards bringing in global standards in logistics and supply chain sector and enable more outsourcing to take placeā.
Tatas to Look at Shipbuilding
The Tata group is looking at the possibility of entering the shipbuilding business even as India looks to boost its shipbuilding capabilities to meet growing global demand for cargo carrying ships. The Tata group has shown interest in building a shipyard near Shivrajpur in Gujarat after the state government invited expressions of interest from private firms, according to a senior Gujarat government official. The group, which makes everything from salt to cars, is conducting a feasibility study on the project, said people familiar with the matter who did not wish to be identified. Tata Steel Ltd makes steel, a key input for constructing ships.
