17 Indians on ship “MSC Aries” seized by Iran off UAE coast amid tensions
India Shipping News » Logistics
by India Shipping News
14h ago
TEHRAN : Iran seized a cargo ship linked to Israeli businessman Eyal Ofer on Saturday amid growing concerns about a wider Middle East war. Indian authorities are now in touch with their Iranian counterparts after learning that there are 17 citizens on board MSC Aries. Iranian state media said the ship — identified as the Portuguese-flagged MSC Aries — had now been “directed towards the territorial waters” of Tehran. “We are aware that a cargo ship ‘MSC Aries’ has been taken control of by Iran. We have learnt that there are 17 Indian nationals onboard. We are in touch with the Iranian authoriti ..read more
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MoRTH plans at record ₹60,000 crore monetization in FY25
India Shipping News » Logistics
by India Shipping News
14h ago
NEW DELHI : The Union Ministry of Road Transport and Highways (MoRTH) is looking to raise a record ₹60,000 crore from monetization in the current fiscal, two people aware of the matter said. While the marque toll-operate-transfer (TOT) highways will form a large portion of the exercise, a third of this money is likely to come from the NHAI InvIT, and private InvITs that may be directly offered road projects for the first time this year, one of the two persons quoted above said. The higher monetization in FY25 is expected to maintain the momentum gained in last fiscal when for the first ti ..read more
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Indian Railways’ DFC : 18-year mission on track
India Shipping News » Logistics
by India Shipping News
14h ago
NEW DELHI : Maruti Suzuki’s automotive parts travel the 659 km between New Rewari in Haryana to Palanpur in Gujarat on the truck-on-train service (ToT) provided by the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL), in 12-odd hours — about half the time it takes by road.  Vinsum Axpress, a logistics company, which handles the consignment, shifted to the ToT service in February, using 6-8 wagons. “We are more than willing to expand operations along the dedicated freight corridor. Our initial experience in transporting automotive parts has been very good,” says Vinod Sharma, C ..read more
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China remains top merchandise exporter in 2023 for 7th straight year
India Shipping News » Logistics
by India Shipping News
14h ago
BEIJING : China remained the top merchandise exporter in 2023 for the seventh straight year with its share in world exports at 14.2 percent, almost the same as the level in 2022, the China’s Ministry of Commerce said. The ministry made the remarks in response to the latest edition of World Trade Organization’s (WTO) “Global Trade Outlook and Statistics,” which foresees a gradual recovery in world merchandise trade volume in 2024 and 2025, following a contraction in 2023. China stayed as the second top merchandise importer in 2023 with a share of 10.6 percent, basically the same with the level ..read more
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Carriers spot bargaining room for India-Middle East cargo as Red Sea gains fade
India Shipping News » Logistics
by India Shipping News
3d ago
MUMBAI : India-Persian Gulf trades seem to be a glaring exception for container lines, as they are rapidly losing the pricing steam they have had from the Red Sea crisis on the larger trade lanes. Most mainline carriers have announced rate hikes in the form of general rate increases (GRIs) and peak season surcharges (PSSs) for shipments from India to various Middle East ports, from next week. CMA CGM will hike rates from Nhava Sheva and Mundra to Middle East ports by US$200 per container, from 17 April. The French carrier said in a customer advisory that the GRI is “necessary to provide c ..read more
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Automobile exports recover in Q4 riding robust two-wheeler shipments
India Shipping News » Logistics
by India Shipping News
3d ago
NEW DELHI : Exports of two-wheelers and three-wheelers, which account for nearly 85% of all automotive shipments from India in terms of volumes, showed clear signs of a rebound in the final quarter of FY24, helped by improved demand in key overseas markets. In January-March, two-wheeler exports grew 30.6% year-on-year to 915,507 units, data released by automotive industry body Society of Indian Automobile Manufacturers (SIAM) showed. The two-wheeler exports are more than five times the passenger vehicle shipments of 165,888 units in the quarter, which experienced a small decline of 3.4%. In te ..read more
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A new solution proposed for drought-stricken Panama Canal goes around it
India Shipping News » Logistics
by India Shipping News
3d ago
PANAMA CITY : As droughts continue to deplete the Panama Canal’s water levels, the maritime trading hub’s operators are planning a workaround. On Wednesday, Panama officials announced a new Multimodal Dry Canal project that will begin transporting international cargo across a “special customs jurisdiction” near the 110-year-old waterway. The Panama Canal, which connects Atlantic and Pacific trading routes, has been in dire straits for some time. To function, ocean vessels pass through a series of above-sea-level “locks” filled with freshwater provided by nearby Lake Gatún and Lake Al ..read more
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Indian Railways’ Rs.2 Tn DFC project is progressing
India Shipping News » Logistics
by India Shipping News
4d ago
NEW DELHI : The ambitious project of Indian Railways-constructing dedicated freight corridors (DFCs) worth Rs 2 trillion is progressing as planned, according to recent updates. These corridors aim to revolutionise India’s logistics sector by facilitating faster and more efficient movement of goods across the country. The Dedicated Freight Corridor Corporation of India Limited (DFCCIL) is overseeing the development of these corridors, which are designed to alleviate congestion on existing railway tracks and enhance freight transportation capacity. The corridors will feature state-of-the-art inf ..read more
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Maersk employees innovate a system to deliver fresh water from Maersk’s vessels to Ports
India Shipping News » Logistics
by India Shipping News
4d ago
SALALAH : The pioneering project optimises an existing fresh water generation system onboard container vessels to further store and deliver it in tank containers to ports and regions facing scarcity of fresh water. Fresh water scarcity is an increasing problem faced by regions all over the world. Four billion people — almost two-thirds of the world’s population — experience severe water scarcity for at least one month each year, and half of the world’s population could be living in areas facing water scarcity by as early as 2025*. With this background, a team of three employees of A.P. Moller ..read more
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US Navy shot down Houthi missile attacked on Maersk ship
India Shipping News » Logistics
by India Shipping News
4d ago
WASHINGTON : United States forces have shot down an anti-ship ballistic missile that Houthi rebels allegedly fired at a Maersk ship in the Gulf of Aden. The US-flagged 2,500 TEU Maersk Yorktown was being escorted by the US Navy as it carried out feedering between Oman and Djibouti. US Central Command said that the ABSM was shot down at 3 am Yemen time on 9 April. It said, “The ASBM was likely targeting the MV Maersk Yorktown, a US-flagged, US-owned vessel being escorted by US warships USS Laboon (DDG 58) and USS Mason (DDG 87). There were no injuries or damage reported by US, coalition, or com ..read more
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