• 2018 December 14 17:16

    India’s containerised export up 10% in the third quarter of 2018

    India’s containerised export trade with the world grew a healthy 10% in the third quarter of 2018 (Q3) due to broad- based recovery in the manufacturing sector, globally buoyed by a surge in demand from end-user industries, Maersk said in a press release. One of the contributing factors for higher exports is the sharp depreciation of the Indian rupee against the dollar which made Indian products more competitive. Additionally, the investments by Chinese firms to comply with strict environmental norms have increased their cost of production and together with the appreciating yuan, has reduced their production cost advantage, thus benefitting Indian exports.

    The high demand for India-made vehicles, mechanical appliances; as well as refrigerated cargo such as seafood and pharmaceuticals, have driven the country’s export growth trajectory. The upswing witnessed by the local manufacturing sector during the last few quarters is reflective of the firming demand for India-made goods, including from non-traditional markets such as Algeria and Nigeria, which also helped to drive export growth. India’s drive to create a new farm export framework to liberalize trade in farm products and grow farm exports via the conclusion of multiple bilateral agreements is expected to yield a positive outcome.

    Containerized imports maintained a stable growth of 9%, mainly due to a heavy inflow of paper into the country, along with metals from North American and European countries.

    Though the export of meat was stagnant, the export of onions witnessed a 15% growth and exports of shrimps grew by 20%, thereby driving overall reefer exports by 27% year-on-year. The demand for Indian organic food to the United States, the European Union, Canada, Israel and Vietnam has played a part in India’s reefer export development.

    Containerised imports of paper, metal and white goods have driven the import of dry commodities by 18% year-on- year. The import of paper continues in Q3 2018 from the United States, Canada, the United Kingdom and South Korea with an increased demand from the FMCG and packaged food segments, the rapidly growing e-commerce industry and the run-up to the upcoming elections. The surge in paper imports has raised some concerns for local paper manufacturing players, and there is an evaluation of a potential three years anti-dumping on certain kinds of uncoated paper from Indonesia, Thailand and Singapore.
     
    The opening of China’s pharmaceutical market, and its decision to cut tariffs on Indian cancer drugs (which are highly demanded in China as they are cheaper than Western cancer drugs) has propelled its pharma exports. The Indian pharma sector also witnessed high export to North American nations in Q3 2018.

    The rise of exports of Indian two-wheelers, passenger and agricultural vehicles have resulted in a 36% export growth in Q3 2018. Strong demand from regions of Latin America, Africa and surrounding countries like Nepal, Bangladesh and Sri Lanka have pushed the India-made vehicles to international markets.

    Metal imports have increased 33% year-on-year growth, on the back of metal scrap driving this growth from the North and West regions of India. In tandem, import of recyclables to India from United States, Belgium, United Kingdom and Netherlands have witnessed significant growth since China’s crackdown on the import of solid waste - including recyclables – owing to environmental concerns.
     
    The growth in the export basket from West India has been led by an increase in the shipment of India-made auto- parts, vehicles and mechanical appliances to foreign shores. While the exports from West India witnessed a contraction of 15% in Q3 2017, the exports increased by 10% in Q3 2018 on the back of high volume trade with the United Arab Emirates, Nigeria and the United States.

    With rising demand for chemicals, metal and mechanical appliances, the import to the East region of India has grown swiftly at 9% when compared to 3% in Q3 2017. Countries like Canada, South Korea and China have been the leading import origins for the growing region.
     


2019 January 24

10:29 15 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on January 23-24
10:04 Port of Gothenburg container volumes up by 17 per cent in 2018
10:00 Brent Crude futures price down 0.36% to $60.92, Light Sweet Crude – down 0.38% to $52.43
09:41 Wilhelmsen Ship Management selected as the manager for Pardus Energy’s FSRU
09:37 Matthieu de Tugny takes helm at BV's Marine & Offshore division
09:18 Baltic Dry Index is down to 982 points

2019 January 23

18:27 Planning for 2020 IMO's sulphur cap has already started
18:13 Eagle Bulk receives commitment for a new credit facility totaling $208 million
18:02 Port of Gdansk (Poland) throughput in 2018 totaled 49.03 million tonnes, up 20.7% Y-o-Y
17:40 Andrei Malyarov elected as Chairman of Severnaya Verf shipyard's BoD
17:19 RWE files acquisition of renewables businesses of E.ON and innogy with European Commission
17:03 The Board of Directors of Fincantieri appoints a second General Manager
16:51 Ice restrictions at the port of Arkhangelsk come into effect on February 15
16:37 USCG interdicts smuggling boat with convicted criminals aboard off Florida
16:24 Regulatory issues related to operation of seaport infrastructure facilities to be discussed at the 2nd HES and Dredging Congress
16:08 First discharge of LPG from Ichthys LNG Project in Japan carried by “K” LINE’s VLGC “GRACE RIVER”
16:03 CMA CGM to launch its Med Pendulum Service (MPS)
15:46 Ice restrictions at the port of Vyborg (Leningrad Region) come into effect on February 6
15:33 Nakilat – Keppel welcomes first FSRU at the Erhama Bin Jaber Al Jalahma Shipyard
15:28 MHI Vestas achieves final turbine installation at Horns Reef 3
15:18 Rolls-Royce completes €57 million upgrade of Rauma thruster facility
15:03 NYK announces delivery of new coal carrier for Hokkaido Electric Power
14:33 Port of Oakland reports more ships than ever plugging into grid
14:20 Throughput of Port Vysotsky up 10.7% to 7.89 million tonnes in 2018
14:03 Kiel welcomes the TUI Cruises newbuilding
13:45 Admiralteiskie Verfi shipyard lays down large freezing trawler of Project СТ-192
13:27 Coast Guard’s only heavy icebreaker arrives at Antarctica
13:02 Rotterdam as a circular hub for the raw materials transition
12:58 The Russian Federation accedes to passenger compensation treaty
12:51 New initiatives to strengthen Singapore as a global maritime hub announced
12:37 SCHOTTEL presents new mechanical hybrid propulsion solution
12:04 Port of Riga cooperates with Balarusian forest industry to further increase its timber cargo volumes
11:42 15 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on January 22-23
11:16 OSG exercises option for second 204,000 barrel barge at Gunderson Marine
10:55 Maritime Security & Offshore Patrol Week 2019 to be held for the first time ever in Dubai, UAE by IQPC Middle East
10:37 N-KOM welcomes first FSRU at the Erhama Bin Jaber Al Jalahma Shipyard
10:20 Responsibilities for implementation of state programmes of the Russian Federation divided between Deputy Prime Ministers
10:06 Brent Crude futures price up 0.03% to $61.52, Light Sweet Crude – up 0.02% to $53.03
09:48 Aderco: Planning for 2020 has already started
09:43 Vympel Shipyard lays down yet another hydrographic vessel / buoy tender of Project 19910 for RF Navy
09:19 Baltic Dry Index is down to 1,036 points

2019 January 22

18:25 Elengy prepares the sale of access capacities to the Fos Tonkin LNG terminal for the period 2021-2030
18:05 Monjasa steps up as the 2nd largest local bunker supplier in the Panama Canal in 2018
17:54 Relampago practices skills with UAE Navy ship
17:35 CalMac takes over the tiller at Argyll Ferries
17:05 NYK gets the highest-rated ‘A’ for Climate Change by CDP Survey
16:42 RF Government proposed candidates to Novorossiysk Commercial Sea Port's BoD
16:23 Pilbara Ports Authority achieves a new record tonnage on a single tide at the Port of Port Hedland
15:56 Port of Rotterdam Authority and Rotterdam Port Promotion Council renew collaboration
15:46 ICTSI Subic hits milestone 200,000th TEU move
15:44 Growth seen in several sectors at ABP South Wales
15:28 KONTUR SPb ERT unit’s drills get thumbs up from Rosmorrechflot’s certification commission
15:22 First ship viaVerbrugge Terminals’ new permanent shipping line with South America docks in North Sea Port
15:00 Meyer Turku delivers New Mein Schiff 2 to TUI Cruises in Kiel
14:41 Jotun looks into expansion of ship coatings production in Russia
14:32 HHLA completes expansion of the container rail terminal Burchardkai
14:19 Bunker prices are flat at the Far East ports of Russia (graph)
14:02 North Queensland Bulk Ports Corporation opens the Port of Mackay for new bulk material trades
13:32 China Navigation to acquire the bulk shipping activities of Hamburg Süd
13:22 14 crewmembers of gas carriers which caught fire in the Kerch Strait confirmed dead, five missing