• 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 March 23

16:03 NCL announces plans for new staff training facility
15:54 ABP Humber provides land to support KIA expansion
14:22 SeaPlanner to support marine coordination for Taiwan's Formosa I offshore wind farm
13:31 Høglund awarded fuel-gas supply systems contract for six Hurtigruten passenger ships retrofits
12:25 McDermott secures substantial offshore EPCI contract in the Middle East
11:21 MacArtney provide Active Heave Compensated MERMAC winch solution to Alcatel Submarine Networks for planned subsea offshore operations

2019 March 22

18:06 GE and Nedstack enter into a partnership to develop hydrogen fuel cell power systems for cruise vessels
17:57 Fitch affirms Deloports rating at 'BB-' with stable outlook
17:36 Samsung Heavy Industries receives a LNGC order
17:05 Maritime Union of Australia issues notice of legal rolling industrial actions at DP WORLD terminals in Australia
16:44 NATO allied nations from last year’s NATO Summit to attend Unmanned Maritime Systems Technology 2019
16:44 Maersk partners with global companies to trial biofuel
16:22 15th edition of Expomaritt Exposhipping Istanbul to be held 2-5 April 2019
16:05 Dutch Sustainable Growth Coalition partners with Maersk in world's largest maritime biofuel pilot
15:30 Hapag-Lloyd announces 2018 results
14:03 ONE unveils enhanced intra-Asia –East India service network for 2019
13:54 Royal IHC to build second TSHD for National Marine Dredging Company
13:41 IMO expands collaborative efforts to promote maritime security
13:17 REMPEITC-Caribe training workshop funded by IMO held in Guyana
12:55 Workshop promoting good practice in spill preparedness and response held in Côte d'Ivoire
12:30 Bunker prices go up at the port of Saint-Petersburg, Russia (graph)
12:03 18 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on March 21-22
11:42 Gazpromneft – Lubricants starts bunkering with marine oils in Primorsk
11:08 MSC Bellissima, MSC Cruises’ latest newbuild visits Valletta Cruise Port
10:50 Maritime Incubator to be established at the Port of Gdansk
10:49 MABUX: Bunker market this morning, Mar.22
10:29 Baltic Dry Index is down to 695 points
10:08 ZIM net loss up to $119.9 million in 2018
09:51 Brent Crude futures price is down 0.21% to $67.72, Light Sweet Crude – down 0.23% to $59.84
09:23 Manufacturing at the Port of Riga beneficial for both businesses and the Port
09:08 DEME Offshore announces Moray East wind farm Tier One suppliers
08:32 Rhenus establishes its own network in South Africa by acquiring World Net Logistics

2019 March 21

18:05 Dublin Bay Biosphere to host international UNESCO EuroMAB Conference
17:53 Detachment of RF Navy’s Northern Fleet completed transfer through the Suez Canal
17:28 McDermott awarded ethylene contract in Russia
17:05 IMO and Saudi Arabia organize course for members of three key regional maritime security agreements to promote maritime security
16:35 Topaz secures contract extension with BP for 12 vessels in Azerbaijan
16:05 Incat announces construction of a 35m Catamaran Passenger Ferry for Samso Rederi
15:52 Kalmar's Eco Reachstackers and Empty Container Handlers to help Ter Haak Group Amsterdam improve the sustainability of its operations
15:31 Severnaya Verf lays down second processing trawler of Project 170701 for Norebo Holding
15:08 German shipyard Lürssen launches project Fiji yacht named Madsummer
14:39 GoodFuels and REINPLUS FIWADO Bunker fuel first inland vessel on 100% sustainable biofuel
14:13 Incat Crowther 35m ferry for Samso Rederi
13:55 Nuclear-powered container carrier Sevmorput on her first voyage under Arctic LNG 2 project
13:24 Andrei Chibis appointed Acting Governor of Murmansk Region
13:17 Coast Guard continues to break ice on Penobscot River to start on the Kennebec River
12:40 Murmansk Region Governor announces resignation
12:00 Steel cut for first short-sea LNG bunker vessel for Eesti Gaas at Damen Yichang Shipyard, China
11:39 15 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on March 20-21
11:13 Bunker prices go down at the Far East ports of Russia (graph)
10:50 Doha to host Ports & Maritime Evolution, Rail & Logistics Evolution, Road & Logistics Evolution Qatar Assembly & Expo in September’19
10:27 Brent Crude futures price is up 0.16% to $68.61, Light Sweet Crude – up 0.02% to $60.24
10:08 MAN receives an order for two-stroke engines from Eastern Pacific Shipping
10:05 MABUX: Bunker Market this morning March, 21
09:59 2018 revenues of FSUE Rosmorport grew by 7% Y-o-Y to over RUB 26 billion
09:22 Baltic Dry Index is down to 709 points
09:08 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
09:00 PSA, PFR and IFM investors partner to jointly acquire the deepwater container terminal Gdańsk from Macquarie infrastructure and Real Assets, MTAA SUPER, AustralianSuper and Statewide Super
08:36 Port Canaveral starts construction of new Cruise Terminal 3 complex
07:58 SeaKing Electrical completes DFDS ferry upgrades in France