GOLD powered to an all-time high at $1300 an ounce on september 27, as worries about the health of the global economy spurred buying, with top consumer India also defying high prices during the festive season. silver rose to a 30-year high, as investors chased cheaper alternatives, It has gained 30 per cent this year. BY the end of the year 2010 gold may reach $1350 or even $1400 an ounce. with gold at record high, investors are rediscovering silver also as a safe haven.

WASHINGTON, SEPT 27: EVEN, Mr A.K. Antony, prepares to hold talks with pentagon officials his US counterpart, Mr Robert Gates, said he wanted removal of restrictions on export of American high-technology items to India.

WASHINGTON, SEPT 27: MORE than 30 groups, representing shippers, forwarders and 3PL operators, have signed a letter to the chairman of the US House Committee on Transportation and Infrastructure, Mr James Obeerstar, pledging their “Co-operation and support” for new legislation to end what they describe as “antiquated and inappropriate exemption from our antitrust laws,”

The lobbyists, which include the influential National Industrial Transporttaion League (NITL) and the Freight Forwarders’ Association told Mr Oberstar “This extraordinary privilege may have made sense 100 years ago, but in today’s fully integrated global market place, competition rather than joint carrier discussions should be the determining factor which governs the price for moving freight.”

Opposing the proposed legislation are the 29 members of the world shipping council that represent around 90 per cent of the global liner vessel capacity and carry around 130 million TEUs a year.

In June, Mr Oberstar said, “I think we should end the anti trust immunity that allows the carriers to talk to each other about rates, And if we replace that with full competition, there will be a real marketplace that would see improvements in rates and services,”

The letter, backing his call, said, “Congress must end the legalised cartels which are specifically allowed to engage in price fixing, cargo allocation among the carriers and even agreements to restrict capacity.

it added, “Carriers have rolled cargo and refused to load cargo without additional compensation.

“Each carrier, individually, should make its own decisions as to pricing, service and capacity without knowledge of their competitors’ plans or the agreement of their competitiors.”

However, the world shipping council argued, “Carriers have been working co-operatively with the Federal Maritime commission and with shipper representatives in efforts to discuss how current contracting processes can be improved for all parties.”

The council added that two of the principal liner discussion groups had reached out to shippers.

The westbound Transpacific Stabilisation Agreement had recently established an export shippers advisory panel, while the Transpacific Import Advisory council began talks with shippers.

“All sectors of the liner shipping industry had difficulties adjusting to the rapid and unexpected growth in trade volumes following unprecedented and financially disastrous year of 2009.” it pointed out.

It claimed ocean carriers had added sufficient capacity to handle all US imports and exports.

“Carriers have also made substantial capital commitments in ordering additional container equipment to meet customers’ needs,” it explained.

“Lines have returned to profitability from the brink of financial disaster, although rates in the transpacific are still not at 2008 levels,” it added.

MUMBAI, SEPT 27: AIR cargo volumes rose by a robust 25 per cent in 2009-10 to total 691 million tonnes, as against 552 million tonnes in 2008-09, it was reported here.

In 2009, international air cargo volumes registered a growth of 10 per cent to 1.2 billion tonnes.

The Airports Authority of India (AAI) sees international air freight volumes gorwing by 10 per cent annually in five years.

As for domestic cargo, volumes are expected to rise by 15 per cent in the first two years, followed by a 12 per cent growth in the remaining years.

To tap the growing cargo market, AAI proposes to develop integrated terminals at port Blair, Srinagar, surat, Pune, Patna and other small airports.

At Kolkata airport, phase one of the new integrated cargo terminal is now fully operational with elevated transfer vehicles and automated storage and retrieval systems.

Chennai airport has also prepared its new integrated cargo terminal, which would raise its annual cargo handling capacity from 3.5 million tonnes to 5.15 million tonnes.

It is estimated that the existing capacity of both these airports would be sufficient to meet the demand until 2020.

Private airport developer, Delhi International Airport Ltd (DIAL), has mean while, joined hands with CELEBI to modernise the integrated brownfield cargo system. It also awarded a second concession to a cargo service centre to develop a greenfield freight facility.

Bangalore International Airport Ltd (BIAL) is setting up a cargo village for 200 air cargo agents and freight forwarders It will also provide rent-free space for animal quarantine, plant quarantine and drug controllers’ offices.

HAPAG-LLOYD will increase its rates for all cargoes and all container types form North East Asia-comprising Japan, Korea, china, Hong Kong and Taiwan -to Australia by $250 per TEU with effect from October 15.

it will also increase rates for all cargoes and all container types from East Asia(excluding Japan) and Oceania to persian Gulf by $150 per TEU with effect from October 15.

The Persian Gulf is defined as being the ports in the UAE, Bahrain, lran,  iraq, Kuwait Oman, Qatar and Saudi Arabia (Dammam and Riyadh via Dammam).

ZIM’S general rate increase (GRI) on westbound cargo from North Europe, Scandinavia to US and Canada will be $ 250/TEU and $ 350/FEU and $ 450 per 40 foot high cube from October 1.

The increase applies to all cargo on the trade lane and was necessary to maintain service and reliability, said the shipping line.

NEW DELHI, SEPT 26: THE  kandla port Trust (KPT) said it would construct three new berths through public private partnership (PPP) to meet the growing traffic demand of the Gujarat coast.

“We will construct three new berths (numbers 14, 15 and 16) having cargo handling capacity of two million tonnes each through PPP,” Deputy  Chairman Kandla port Trust M A Bhaskarachar said.

There are six bidders in fray for these projects having an indicative cost of Rs 660 crore, he said, adding the bids were scheduled to be opened on september 27.

According to Sources Adani Enterprises, ABG Shipyard, Sical Enterprises United LIner Agencies of India P. Ltd, PSL Co and IMC shipping are amongst the six bidders for this multi-crore project.

However, Adani Enter prises spokesperson today denied having bidded for berth construction projects KPT has projected to cross 82 million mark this fiscal year.

NEW DELHI, SEPT 26; TOTAL volume of containers handled by state -owned major ports rose by 10 pc in the first five months of fiscal 2010-11 ending Aug. 3, the Indian Ports Association said. Container traffic totaled 3 million TEUs, up from 2.8 million TEUs, in the same period last year.

while almost all major ports boosted their throughput numbers on a year-on-year basis, the biggest gainer was the port of Chennai. The southeastern hub handled 630,000 TEUs compared with 480,000 TEUs, an increase of about 32 pc over fiscal 2009-10.

The latest IPA data indicates the operational disruptions, following the MSC Chitra Khalijia-3 collision in the Mumbai harbor Aug. 7 adversely impacted traffic growth at JN Port, where throughput was flat with the year ago period at 1.7 million TEUs.

The smaller container gateways of Kolkata, Tuticorin and Cochin reported modest gains in container movements duringthe five month period Kolkata’s  throughput rose to 216,000 TEUs from 204,000 TEUs.

Tuticorin moved 189,000 TEUs, up from 182,000 TEUs, while at Cochin volume increased to 144,000 TEUs from 129,000 TEUs According to the IPA, overall tonnage at major ports for April through August was up 1 pc, from 225.5 million tons to 227 million tons, with Kandla emerging as the top cargo handler with throughput of 33.4 million tons.

KOCHI, SEPT, 26: SEAFOOD  exporters have become enthused by the resurging demand from the US and European markets, the Seafood Exporters’ Association of India (SEAI) president, Mr Anwar Hashim, said.

The exports saw a sharp increase of 22 per cent in July, During April-July 2010-11, they stood at $638 million, compared with $517.40 million during the same period of 2009-10.

But the $2-billion trade has expressed alarm over the recent weakening of the dollar, which erodes earnings, Mr Hashim said.

He feels that European and the US buyers were back on track and consumption was slowly increasing.

“Exports of shrimps to the US market are on a positive note despite the fact that the anti-dumping duty has increased after the fourth review. The customs bond has been waived and exporters are returning to the US market,” he admitted.

The anti-dumping duty and customs bond enforced from 2004 had affected exports badly. Companies exporting shrimp to the US fell to less than 75 from 228 at the time of position of punitive duties.

Frozen shrimp exports constitute almost 50 per cent of the value of total seafood exports and US actions  had a deleterious effect on the numerous aquaculture farms spread over the coastline.

Exports to japan, which has very high quality standards, have also increased significantly during the period, the Marine Exports product Development Authority (MPEDA)  sources said.

The volume of exports during the first quarter was higher by 47 per cent, while the value has gone up by 30 per cent during the period.

Dollar realisation from the Japanese trade has increased by 41 per cent during the 3-month period.

japan imports mainly shrimps.

NEW DELHI, SEPT 26: THE Union government has no immediate plans to lift the ban on export of wheat and rice, the Union Minister for Food and Agriculture, Mr Sharad Pawar, said.

But the Agriculture Ministry was not in favour of a ban on cotton exports, he admitted.