Jawaharlal Nehru Port Trust Reports Highest-Ever Container Traffic
India's biggest container port Jawaharlal Nehru Port Trust (JNPT) handled 0.418 million TEUs in January this year, which was highest ever container traffic handled during a month the port and increase of 13 percent over the same month last year. "JNPT’s sustained efforts in creating trade-friendly measures over the last few months is reaping reward with an improvement. With the commencement of operations of fourth terminal, EXIM trade gets an opportunity to use state-of-the-art facilities and avail JNPT port for further increasing the volume of traffic," said a statement fron the company. Among the four terminals, JNPCT handled 0.112 mln TEUs, APM’s shared stood at 0.19 mln TEUs, DP World (comprising NSICT and NSIGT) together handled 0.115 mln TEUs during the month of January 2018.
Global Shipping Feels Fallout from Maersk Cyber Attack
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of world trade is transported by sea, with ships and ports acting as the arteries of the global economy. Ports increasingly rely on communications systems to keep operations running smoothly, and any IT glitches can create major disruptions for complex logistic supply chains. The cyber attack was among the biggest-ever disruptions to hit global shipping.
Jawaharlal Nehru Port Goes for External Commercial Borrowing
India’s premier container port, Jawaharlal Nehru Port in Navi Mumbai, has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing (ECBB) to the tune of USD 400 Million at a “very competitive” interest rate to improve the infrastructure required for “doubling” its existing capacity to 9.85 Million TEUs annually. The ECB of USD 400 Million ( USD300 Million from the SBI & USD100 from DBS) will be primarily utilised by the JNPT, which has US Dollar denominated foreign currency earnings which can be leveraged for a low cost foreign currency borrowing, for expansion of its existing roads network connecting to its port project as the existing road network for evacuation of traffic is currently operated at a capacity utilisation of 100%.
First Indian vessel moves ODCs in one go
Allcargo’s multi purpose vessel “Allcargo Susheela” successfully loaded 9 pieces of Heavy lift & ODC cargo from Jawaharlal Nehru Port’s shallow berth last week. It is for the first time that an Indian flag vessel has moved multiple heavy lift cargo in one go. Same vessel had earlier carried 2 nos. generators weighing 105 MT each from Mumbai to Cochin. During last few months she was engaged in carrying project cargo in the Persian Gulf. "Susheela" berthed at JNPT on 8th May and loaded all the Heavy lift units ranging in height from 5.5 Mts to 6.1 meters and weighing from 62 MT to 121 MT. Considering the challenge of multiple cargo, Allcargo’s Shipping team innovated its strategy by undertaking double penetration…
India Loses $12b on Higher Transaction Costs
India loses about $12b each year because of higher transaction costs at its ports, according to MM Saggi, nautical adviser to the government of India. Saggi told an industry conference that the transaction costs at Indian ports is about 10 percent, compared to 6 percent in developed countries, owing to problems like large turnaround time, port congestion, inadequate use of information technology, a shortage of dredging capabilities, and a shortage of trained personnel. has 12 major ports that handled 519 million tonnes of cargo in the year ended March 2008, with 12 percent year-on-year growth, a study by Ernst & Young Pvt. Ltd. shows.
