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Shipping / Transport
Govts extends re-export timeline for imported containers by 3 months
While the policy is designed to discourage long dwell time of containers and to promote faster turnaround, the government said that it has been reported that this sometimes creates perverse incentive among shipping lines to export empty containers to evade duty payment on containers which are lying empty.
Lee Fixel's Addition invests $125 million in IPO-bound Delhivery
SoftBank-backed Delhivery, in which Lee Fixel has been "investing and reinvesting" since 2015 first as part of Tiger Global and now through Addition, is expected to file its IPO papers in the coming weeks.
India's first luxury cruise liner: How to book, launch date
India's first indigenous cruise liner will be launched by the Indian Railway Catering and Tourism Corporation from September 18. The railway PSU has tied up with private company Cordelia Cruises for this.
Vizhinjam port will be operational in December 2023: Kerala Ports Minister, Adani Group
The joint announcement was made to the media after a meeting of the Adani Group with the minister with regard to completion of the project which was scheduled to be finished by 2021. The minister told reporters that the Adani officials have said the work got delayed due to various natural calamities since 2018 and thereafter, the COVID outbreak from 2020.
Adani Ports acquires remaining 10.4% in Gangavaram port
Earlier, in April 2021, APSEZ had acquired 31.5% from Windy Lakeside Investment Ltd, a Warburg Pincus affiliate, and had signed an agreement for controlling stake of 58.1% held by DVS Raju and Family. Post the merger of GPL and APSEZ, DVS Raju and family will receive approx. 480 million shares resulting in 2.2% stake in APSEZ worth Rs 3,604 crore.
Dwarf container train service flag off from Jawahar Lal Nehru Port Trust
The port is set to gain steadily from the implementation the dwarf container train services from JNPT, as the rail movement of EXIM cargo through double stacked dwarf containers, would offer competitive cost advantage to the EXIM community, resulting in an increase in port cargo traffic via rail route.
CCI approves Adani Ports and Special Economic Zone's 10 per cent stake-buy in Gangavaram Port
Adani Ports and Special Economic Zone is present across 11 domestic ports in six maritime states -- Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
DHL Express to hike prices in India by 6.9 pc on average next year
DHL Express India's senior vice president and MD R S Subramanian said the annual price adjustment allows us to invest more towards digital tools, to invest in facility and fleet expansion. "This includes state-of-the-art aircraft and vehicles as well as the expansion of our hubs and gateways to increase capacity as demand for the fastest possible cross-border shipping continues to grow."
Shipping insiders caution against new capacity as prices surge
The container shipping market is experiencing one of its best years as a perfect storm of Covid-driven purchasing demand, port congestion and typhoons boost freight rates.
DHL Supply Chain to set up centres across India: Global CEO Oscar de Bok
Fulfilment centres are large warehouses where inventory of orders placed with ecommerce players are packed and stacked before being shipped to customers. These centres can process both business-to-business (B2B) orders as well as business-to-consumer orders.
The world’s shippers are earning the most money since 2008
With the merchant fleet hauling about 80% of world trade, the surge reaches into every corner of the economy. The boom back in 2008 brought with it a huge wave of new vessel orders, but the rally was quickly undone by a demand collapse when a financial crisis triggered the deepest global recession in decades.
Container shipping giant freezes spot rates amid trade chaos
Global supply chains, with container shipping as their backbone, are struggling to keep pace with the demand for goods and overcome labor disruptions caused by Covid outbreaks.
Florintree, Ritesh Agarwal invest Rs 50 crore in Freight Tiger
The round also saw participation from Oyo Founder, Ritesh Agarwal’s family office Aroa Ventures and existing investors Lightspeed India Partners, Moonstone Investments and Pawan Munjal Family Trust.
Rising freight rates: Shipping lines told to be transparent on levies
The government Thursday asked container shipping lines to be transparent in their levy of various charges and accept payment in free foreign exchange, in light of a global shortage of containers and soaring freight rates that have hurt traders.
NRI qualified to bid for SCI has family history of bankruptcy
London-based Ravi Mehrotra, who is the founder of Foresight Group that also owns Pavers England footwear brand in India apart from having interests in the shipping business, has put together a consortium that has qualified to bid for Shipping Corporation of India.
Shiprocket eyes $200 million from Temasek and others
Shiprocket essentially aggregates delivery demands from direct-to-consumer (D2C) brands, micro entrepreneurs and local brands, and sends them to logistics players such as Delhivery and Ecom Express.
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