CHENNAI: More than half of India’s major ports have registered a double-digit growth in january, with the total cargo handled by ports registering a 13.4% growth at 51.3 million tonnes compared to 45.2 million tonnes in December 2009. container volumes rose 31% year-on-year.

      The growth was driven by ports like paradip, Mormugao, Kolkata, Tuticorin and New Mangalore registering growth between 25% and 43% year -on-year, while Ennore was down by 21.8% and Haldia registered a fall of 26.6% Haldia’s cargo traffic declined by 22.3% over January 2009.

      Analysts point out that with a revival in the global market, the sector  is once again on an upswing, although at a slower rate.

    Container volumes saw a rise of 31% across all the major ports in January 2010 at 6.08 lakh TEU’s (twenty-food euivalent units) compared to 4.65 lakh TEU’s during the corresponding period in 2009. The growth was driven mainly by JNPT mumbai registering 30% growth during the period and chennai growing 36% volumes at Kolkata port remained sluggish, dropping 15.5% during the period, according to data from the Indian Ports Association (IPA).

    “The steady improvement in container traffic is postive for container freight station (CFS) and rail haulage players in the medium term. Going ahead, we expect container volumes to remain buoyant, partly aided by the low base effect during the same period last year,” Ankur periwal of Rellgare said.

   The increase in cargo volumes was mainly driven by a 47% growth in coal volumes year on year. on a sequential basis, coal volumes increased 19.2%. However, fertilizer and crude volumes fell 11.8% year on year and 2.2% respectively, Iron ore recorded an increase of 7% year on year.

   The ports also registered a overall cargo growth of 463.2 million tonnes for the peirod ending january 2010 compared to 437.1 million tonnes in the same period last year.

    MALE, FEB 24: MALDIVES  has opened up its market and sought in vestment in sectors like ports, airports, infrastructure projects, renewable energy and healthcare.

   According to Mr Mohamed Nasheed, president of Maldives, the rise of Indian engineering goods export industry is a symbool and promise of the emergence of an economic superpower.

    ”This has been possible by the opening up of the economy. Maldives can learn from India by opening its economy to the world,”

     The recognition of India’s engineering capabilities by Maldives will go a long way in helping companies ramp up exports, opined Mr Aman Chadha, chairman of the Engineering Export Promotion council (EEPC), and Mr R,K, Mutha, Southern region chairman of EEPC India.

    EEPC plans to double exports to $80 billion in five years and exceed the target of $100 billion in two years after that, they disclosed.

   Mr Mutha said in 2007-08, exports from the South stood at Rs 25,754 crore ($6.400 million ) 19 per cent of the total engineering goods exports.

  of the 13,000 EEPC members, 2,750 are allied products. commercial vehicles, passenger cars, autombile accessories and components, electric power machines, textile machinery and spares, industrial castings and similar products constitute the bulk of export items from the south.

  Engineering goods exports, which were ”severely affected by the global financial crisis, are now reviving. April 2009. saw a negative growth of over 43 per cent. which come down to single digit negative growth in october and posted a posted a positive growth of 6.5 per cent by the year end “, Mr  Mutha revealed.

       NEW DELHI, FEB 24: THE latest survey carried out by the Federation of Indian Chambers of commerce and Industry (Ficci) indicates that the appreciation of the rupe uis-a-uis the dollar and the aggressive chinese moves to push exports are the exporters major concerns now.

   “The secenario is such that exporters are expecting support from that govern ment as the chinese are getting massive support for their growth.

    “Equally, with the global recovery in its initial stages, the government should watch the export performance in 2010 before taking a call on stimulus measures for exporters, “Opined the president of Ficci, Mr Harsh Pati Singhania.

    According to the survey, the recent export performance should be assessed keeping in mind that this come on the back of low/negative growth in the same period of 2008-09.

    The survey, conducted in January and February 2010, saw participation from 264 companies with a turnover of between Rs 60 lakh and Rs 5,500 crore.

   The respondents conceds that the global market is showing signs of improvement and a pick up in overseas demand is manifest.

    “Export conditions have improved and there is a feeling that the recent performance with exports growth growth entering positive territory since November 2009 is likely to continue in the near term,” the respondents admitted.

     Nevertheless, exporters are still apprehensive of the appreciating rupee and the efforts made by the chinese government to boost exports. while market enquiries have resumed and buyers are coming forward, the pace of new business is still lower than that seen during the pre crisis levels.

    Exporters have also indicated that the stimulus measures provided them with a reasonable cushion and support to compete with their counterparts in other countries.

     But they  want the government to wait for performance in the calendar year 2010and then decide whether to roll back the stimulus.

         NEW DELHI, FEB 24: THE Union Finance Minister, Mr Pranab Mukherjee, could not hazard a guess, even a couple of days before the Union Budget, on which date precisely the proposed unified Goods and Services Tax (GST) would be introduced.

         The Minister is expected to meet state Finance Ministers in early April to discuss the implementation of GST.

        “A meeting was held with the state Finance Ministers on January 28, It was decided that discussions on GST will be continued in another meeting in early April, ” he said.

         Besides, a joint working group, commprising officers of the Centre, a few states and the empowered committee of the state Finance Ministers, had been constituted to prepare drafts of the constitutional amendment Bill, Central GST legislation, model state GST legislation and related rules.

        While implementing GST, thorny issues remained between the centre and states on its structure, The tax base, the compensation package for any revenue loss to states were the main issue in thisregard, he explained. Implementation of the GST regime will also require constitutional amendments like empowering states in the levy of service tax, a GST on imports, and so on.

             NEW DELHI, FEB 24: THE Union government has made it amply clear that it would decide on rolling back the fiscal stimulus measures only after a comprehensive study of its impact on the economy.

           “The decision on the roll back of fiscal stimulus measures, including the nature, pace and sequence, would be based on the emerging economic situation after careful consideration of the impact of the same on the recovery process,” the Ministry of state for Finance, Mr Namo Narain Meena, said in a written reply to the Rajya Sabha.

           The Central Statistical Organi sation (CSO) has pegged econonic growth at 7.2 per cent in 2009-10, while the growth in the second quarter of the fiscal is placed at 7.9 per cent.

          ‘The above  two facts indicate that in the current fiscal, the economy is recovering from the slowdown in 2008-09…A significant part of the revival owes to the stimulus packages, “the Minister pointed out.

          The expectation of robust growth has given the government enough room to consider winding up the stimulus measures, such as the cut in excise duty and service tax rates. The Reserve Bank too has begun winding up its accommodstive monetary policy by hiking the cash reserve ratio by 75 basis points in January. It may also hike berichmark interest rates in its new policy in April, in order to crub inflation.

         Mr Meena  observed that monitoring the emerging macroeconomic situation and calibrating policies to mitigate the adverse impact and restore growth momentum was an ongoing process.

        NEW DELHI, FEB 24: THE Union Railway Minister, Ms Mamata Banerjee, has kept freight rates unchanged and ruled out the privatisation of the Railways, but still called for developing new business models to attract private investment and improve earnings.

        “We have set our goals in the Vision 2020 document and we will achieve them,” she said referring to the document unveiled in December that targeted making over 30,000 km of routes into double or multiple lines, as against 18,000 km today.

         ”It is a fact that administrative and procedural delays discourage potential investors. We will need to overcome this. I am setting up a special task force for this,” she announced.

          “Special structure will be created for the new business model,” she said. “But we will not privatise our railways. The Railways will remain with the government.”

          The Minister said that clearance to private investment will be provided in 100 days to speed up projects and appealed to business houses to join hands for building partner ships with the Railways.

         Proposing 1,000 km of new rail lines in a year, she also announced the use of radio frequency identification (RFID) technology for freight transport.

          She also proposed running special freight trains for vegetables and vehicles, including roll on and roll-of automobile hubs in 10 centres. Another proposal was of Tatkal service for freight movement.

         The western freight corridor agreement would be signed next month, she asserted, she also proposed setting up of new dedicated freight corridors, including a south south one.

       NEW DELHI, FEB .24: THE Union Finance Ministry has imposed an antidumping duty (of up to $ 2,254 per tonne) on imports of stain less steel products (used by consumer durables and auto  industries) from the US, EU, china and other countries.

        Incidentally, the government is also considering imposing an anti-dumping duty on import of two variants of anti-bacterial drug penicilling to protect the industry form cheap chinese and Mexican shipments.

         “The provisional anti dumping duty to be imposed on penicillin G Potassium and 6-Amino Pencillanic Acid will range between $ 18.54 per billion oxford units (BOU) and $2.10 per BOU,” a Commerce Ministry official revealed.

              NEW DELHI, FEB 24: The Port of Le Havre suffered a 10 per cent fall in container volume to 2.2 million TEU in 2009, but said this was better than rival north European ports which suffered as much a 20 per cent in the global downturn. But because of the downurn Grand Port Maritime du Havre (GPMH) would keep port dues and pilotage fees the same as last year in 2010. said a port statement.

            The port results showed a good resistance to the downturn, said the Le Havre officials . “Consequently, Le Havre remains, by far, the leading port on the French container market owing to the reasserted support of its partners which, despite every thing, progressed in a chaotic environment in 2009,” said the port statement.

             ” In addition, French market kept rather steady owing to the good consumption level of households in France for the major part of the year. It must be noted that port 200, with around 1.1 million TEU in its present layont of four berths, reached 80 pc of its capacity,” said the statement .

            The port statement said that the new rate schedule was an inducement to new liner shipping services to call at the port. “This tariff package is in line with a strategy of conquest of new trades initiated by all actors of Le Havre port place and will be facilitated  by the establishment of the new work organisation within stevedoring companies,” said the port statement.

      NEW DELHI, FEB 24: The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 31 per cent jump in charter rates by December.

      The rate for leasing capasizes, boats three times the size of the Statue of Liberty, will average  US $ 39, 000 a day in the fourth quarter, from US $ 29,784 now, according to a survery of 11 analysts. Higher costs for the ships, the biggest part of the commodity fleet, will bolster returns for Mistsui OSK Lines Ltd. Nippon Yusen KK and china Cosco Holdings Co, analyst forecasts showed.

      While the 14 per cent decline in world trade last year caused prices to plunge as much as 76 per cent from their peak in june, increasing demand for coal now means 55 ships are waiting to load at Newcastle in Australia, up from 17 a year ago.

     Lengthening lines at the iron -ore ports of Tubarao in Brazil and Qingdao in China also reflect a recovering global economy and accelerating demand for raw materials.

    Shipping costs that quadrupled last year on signs the global economy was recovering have retreated 20 per cent in 2010 on concern that a record fleet expansion will overwhelm any rebound in demand. Laid end-to end,  the new ships would stretch about 60 miles, according to data.

     Forward freight agreements traded by brokers and used to bet on or hedge against future dry bulk rates anticipate a fourth quarter average of US $ 29,825, according  to data from Imarex ASA in oslo. That’s 0.1 per cent more than current costs and 24 per cent below the median in the survey.

     Golden Ocean Group Ltd,  the commodities shipping line led by Norwegian billionaire John Fredriksen, said proft fell 33 per cent last year to US$238.9 million. Cie Maritime Belge SA, owner of shipping line Bocimar International NV, said earnings slumped 44 per cent to 118.9 million euros, Now the world Bank predicts a 4.3 per cent gain in trade volumes this year and 6.2 per cent in 2011. ships carry about 90 per cent of world trade, the Round Table of International shipping Associations estimates.

     MOL, more  than doubled its -year proft estimate and NYK  posted third -quarter earnings on the same day,  its first in a year. China Cosco president Zhang Liang forecast that the Baltic Dry Index will rise 54 per cent this year. Investors are growing concerned that central banks will withdraw stimulus measures before the economic recovery takes hold. The 93-member Bloomberg world mining Index fell as much as 1.7 per cent on Feb 12 as the People’s Bank of china ordered  banks to set aside more deposits as reserves for the second time in a month to cool the fastest growing  economy.

        China’s iron -ore imports fell 25 per cent in January, from the previous month, according to customs data. The capesize fleet will expand by 20 per cent this year, outstripping the 8 per cent gain in demand, this month’s survey showed. Delays at shipyards may narrow the gap. Even with rates where they are now, ship owners are still making more than operating costs. Daily overheads on a capesize are about US $ 7,555, Drewry shipping Consultants Ltd estimates.

      MUMBAI, FEB 24: The SCI’s World wide Agents Meet 2010 commenced in Taj President on Feb 22, 2010 with 58 agents worldwide participating in the meet representing Far East, Indian Subcontinent, Persian Gulf, Westrn Europe etc, The meet bagan with auspicious lightening of lamp by the CMD Mr. S Hajara and Functional Directors of SCI.

     The meet started with keynote address by Mr. S Hajara who also welcomed the worldwide agents and gave a brief about the Global shipping market. He indicated that the global demand is gradually improving in all segments of shipping with dry bulk expecting a growth of 9 pc.

     On the supply front, the growth is expected to be around 10 pc. Though, the tanker market had experienced contraction in the past two years, it is expected to see some growth in the coming times. He stated that in 2008 and 2009 many liner shipping giants have experienced contraction in demand leading to 13 pc-14 pc of the total capacity being laid up. From the beginning of the current year, the container market is expected to recover gradually.

     Mr Hajarn informed the participants of the delivery of India’s largest VLCC during last year as well as a MR tanker to SCI. He also added that one MR tanker was acquired through resale route at very competitive price. With respect to the SCI’s financial performance, Mr Hajarn informed that compared to major shipping lines who had been affected severely due to the recession, SCI’s performance had been better. Mr Hajara indicated that India had good business potential and every global player was looking to participate in the growth of Indian market.

     Mr Hajara was pleased to appraise the gathering of the Awards and Accolades received by the SCI. to name a few - ‘Safest & Most Environment Consicious Indian Shipping Company Award’ on National Maritime Day.’ Tanker Operator of the Year’ by Indian Maritime Gateway Awards2009 and ‘Excellent Rating for the 17th consecutive year by DPE.

     He congratulated Director -Liner & his team and Director -Personnel and his team for arranging such a significant meet.

    Director (Finance), Mr B K Mandal talked about the financial crisis that hit hard on SCI’s financial performance last year due to which there had been drastic fall in the income, sales, PAT etc, Director (T&OS), Mr Umesh Grover said about the SCI’s acquisition plan and progress of the SET-IT project. He also indicated that currently the markets were good for acquisition of vessels and SCI was looking forward to such opportunities. Mr Grover informed that 12 vessels were scheduled to be delivered in the current year.

      Director (P&A), Mr Kailash Gupta indicated that not only inhouse efficiencies were to be improved but also agents were expected to increase their efforts for better performance of the SCI.

     Director (L&PS), M J N Dasmentioned that in view financial crisis many of the new business ventures did not materialize. SCI took tough decision by stopping its non profitable services like India Red Sea service and Feeder service and laying up of one of SCI Vessel in smile service in order to reduce looses.

    He indicated that liner division was mostly agent driven and the fate of the principal and the agents were totally interlinked. He informed the agents that SCI’s management had reviewed SCI’s Liner performance for the past 10 years and found ways to do things differently. Our volumes of business had not reduced but revenues had been very dismal.

      He stated that loss was unacceptable to SCI in any of its business segments. Recession had given us an opportunity to learn and devise future strategies which would be discussed during the two day session. The downturn had also reduced the asset values and had given opportunity to acquire new assets at much reduced costs to start  viable new services and upgradation all the options and would take appropriate decision in due course.

     Director (B&T), Capt K S Nair, said that SCI had grown from being a Miniratna to Navratna company and should focus to become a Maharatna company with its continuous efforts.

    SCI’s chief Vigilance Officer, Mr M.B.Sagar initiated his talks by conveying his appreciation for recognition given to Vigilance Department in the worldwide agents meet 2010. He stressed upon Transparent relationship between the agents and the SCI and requested agents to be diligent in their dealings with the trade, He introduced to the agents about the Integrity Pact implementation in SCI and benefits of SET IT project implementation. The agent meet was scheduled for two days Feb 22-23, 2010. The meet focused on improving SCI’s market share, developing existing business portfolios, and evaluation  of agency performance.