Indian Register of Shipping (IRClass) Wins Two Indian Navy Contracts Indian Register of Shipping (IRClass) has secured a contract for the provision of classification services for 4 large survey vessels for the Indian Navy.
4 Vol. XVIII-No. 14 n Mumbai, Thursday, 31 January 2019
www.bhandarkarpublications.com n Price: Rs. 10/-
DP World Nhava Sheva & JNPCT Flag Off CONCOR’s Maiden DPD Train
STAR WOMAN of the Month See pg.2
n BSN Network / Mumbai Global trade enabler DP World operated Nhava Sheva International Container Terminal with Jawaharlal Nehru Container Terminal (JNPCT) and Jawaharlal Nehru Customs House flagged off CONCOR’s first DPD train destined to Karambeli, Vapi. This rail service is one of the key initiatives under DPD to further facilitate ease of doing business at the JNPT port. The service has enabled prompt and
faster delivery of containers directly to the customers in the industrial locations in and around Vapi, Valsad, Sanjan, Umbergaon. Further reducing inventory cost and saving in transportation time from the terminal to the warehouses/factories. The train was flagged off in the presence of officials from DP World Nhava Sheva and CONCOR and was facilitated through special assistance provided by Mr. Vivek Johri, Chief Commissioner– Customs, JNCH.
Ms. Chaitaly Mehta
Accidental Entrepreneur
A very few women have ventured in to shipping, particularly as an entrepreneur or senior professional. Ms. Chaitaly Mehta from EKF Global Logistics, is one among them who has made a mark for herself. Chaitaly has been an accidental entrepreneur because she had no idea, what so ever, that one day she was going to do ‘Cargo’.
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n BSN Network / Mumbai A very few women have ventured in to shipping, particularly as an entrepreneur or senior professional. Ms. Chaitaly Mehta from EKF Global Logistics, is one among them who has made a mark for herself. Chaitaly has been an accidental entrepreneur because she had no idea, what so ever, that one day she was going to do ‘Cargo’. All she wanted was that if she was to work it was where she could travel. Chaitaly Mehta wasn’t an ambitious child; at least that’s what she thinks and whatever she read at that time influenced her. So Eric Segal’s Doctors wanted her to be a Doctor and study at Harvard; until she realised what it would be giving her less than what it would cost. Earning money wasn’t something that she would think of because her Life was so sheltered like many young girls and she happily delved in her Books. The travel bug wanted her to be an Air Hostess. However, two things she was sure about and is frank about, that she wanted to be the Wife and the Mother. She recounts that moment when she finished college and for the first time saw her results were low. She still holds her Dad responsible for it because on his insistence she took accounts, whereas her friends who all took management got distinction. She reminisced how her Dad didn’t tell her about results for 2-3 days after she was back from her holiday then. When she looks back after 21 years of graduation, feels how they were right. She unnecessarily mourned and sulked for a couple of weeks because her parents, like typical parents worried that she wouldn’t land up doing anything One day her parents suggested to her to work for some time and then figure out future course. She still vividly remembers how her dad with his half shaven face was talking in all seriousness and here she was dreaming about travelling the world. Neither her parents nor she did ever think that she would take to cargo like a fish to water. In her first job she had no place to sit for almost 3 years, leave alone office position. She used to sit on the most uncomfortable guest chair, a bar stool kind, opposite the table of an Export Manager with very little leg space. Whenever office had visitors and they frequently did, she would get up from there and go sit in the waiting area. She literally rose through the ranks fighting her way, making
BHANDARKAR SHIPPING NEWS
STAR WOMAN of the Month
Ms. Chaitaly Mehta
Accidental Entrepreneur
her own space in the industry. Right from the day one, it was 12 hrs duty. She worked in all departments including accounts. She remembered those times when she cried, fallen down, broken down in front of people, was laughed at, condemned, and made fun off. But all she knew that she wasn’t going to give pleasure to them by quitting. However, she would like to think that somewhere things have changed or revived because of the stand she took, and said vehemently that impact had created in the industry. She started the sea division after joining, revived import clearance division, started new verticals like Reefer Div, Aviation Div, Live Animals, Agro Products Div and couple of more . Chaitaly Mehta doesn’t have different standards for men and women. They are the same to her because she judges everyone from a level that is a fair playing filed. She wouldn’t like her success to be compared with women or men in the industry, because she thinks all have gift of intelligence and strength which when exploited correctly and to the fullest, provide results. To her, a successful person is someone who has grown without shortcuts and more importantly his or her growth has benefited others around. She accepts that in this industry too nepotism exists. She is a 3rd generation in this industry, one of the very few women at her level. The entry was easy because it was a family business, but thereafter it was sheer hardwork. She may not be having a fancy degree or an education
from abroad nor does she move around in that circle where one gets business because of one’s circle. Yet she succeeded because of her Out of the Box thinking. Inheriting business is easy but expanding it can be done with the right skills. However, she respects those who create it as creating business is much tougher. While talking about steps Indian Government should take for Women empowerment in shipping industry, she suggests. Hygienic conditions at every airport, seaport, ICDs, CFS etc, Sufficient Maternity Leave and even Paternity leave , Safe Working atmosphere especially for those who are in Operations are very important. Talking about her top 3s personal achievements, Chaitaly, with her balanced mindset, considers that achievements are not only Professional ones but if through it one is able to realise own self-worth and move on to help others too. Being confident and bold is most important for being successful. But for her father’s insistence she could not have ever entered a restaurant alone, how much ever hungry she was. Today she manages to eat alone not only at Star restaurants but even at Dhabas, maintaining time discipline for healthy life in her hectic schedules. She has learnt to ignore those ‘surprised looks’ from adjacent tables. Apart from health, positive side is, she has often met some fascinating people, made friends and even done business with! Setting up of their aviation vertical, handling helicopters and becoming the single largest customs broker offering the full range of services to the International airlines – Service Cargo, Engineering
and Catering Departments is her big achievement and moreover, Handling rejections, self-belief and not quitting is third important thing.! The Dragon Lady in Logistics as she is often called in the industry, recollects that clients came on board after only after repeated rejections ranging from 3 years to 14 years. The handling of rejections helped her in her personal life too. Chaitaly reminisced certain instances where she point blank told people that not to take her as a weak person because she was a woman, and at times proved it by taking very tough decisions. She chose not to quit, did re-thinking, accepted her mistakes and moved. There would be cases when asked for help, her team members would be questioned on the subject and then after finding their drawbacks expose them for not knowing it. What skills helped her achieving her goals and for achieving bigger goals would the current skills be sufficient she relied that before joining work she had done DGR course. Everything mostly she learnt on the job. As she is 3rd generation, some of the qualities were inherited from grandfather and father. She learnt a lot from listening from people around. Again, the ability not to quit and not to succumb to the situations helped her think out of the box . If the sector must embrace diversity, she quickly replied, “we should stop patronising, stop saying being a Woman you are doing a good job, Stop saying It’s a Man’s world, nice to see women here etc. Start accepting women in Operations and treat them as equals with same work timings. However, provide security and hygienic conditions. Be transparent. Don’t stop discussions when a woman joins the conversation or wants to know what is happening in the industry” However, she totally agrees that heavy lifting, shift jobs at the airports and seaports for the operations, loaders, is not possible for women. They are to be given opportunities after rigorous training for both mental and physical strength, only then they can be given a job of a forklift operators etc. in operational positions. There is enough of training available in terms of courses, internships which can help the women. Her question to aspiring women professionals would be, whether aspirants can separate their identities and be only Professionals at work, or are they wanting to work only because to get out of the house to avoid boredom? And secondly, Can they take tough decisions without succumbing to emotions?
BHANDARKAR SHIPPING NEWS
JNPT celebrates the 70thRepublic Day with great fervor Chairman lauds the all- round progress of JNPT Students of JNPT schools enliven the event with their talented performances
(Shri Sanjay Sethi, IAS, Chairman, JNPT addressing the gathering at the Republic day celebration at JNPT)
n BSN Network / Mumbai JNPT, India’s largest container port, celebrated the 70thRepublic Day with great enthusiasm in the midst of the employees, their families, school children and the local citizens. The auspicious day began with the flag hoisting ceremony by the hands of the Chief Guest of the function, Shri Sanjay Sethi, Chairman, JNPT. It was followed by a march past
by the parade contingent, in the presence of the Chief Guest, to honour the Republic Day. Sharing his thoughts on this National day, Shri Sanjay Sethi, Chairman, JNPT said, “As we celebrate our Republic Day, let us remember the innumerable hardships and sacrifices our yesteryear leaders and freedom fighters faced, for us to attain freedom. As citizens of this country
Mumbai, Thursday, 31 January 2019 it is our responsibility that the success and prosperity we achieve should also contribute towards the growth of the nation. Our small efforts as an individual corporate collectively will be a big push for social and economic development. I am proud to be part of JNPT, an organization that serves the nation and continues to be a part in its growth story.” He further highlighted the Port’s record performance, crossing the milestone of 5 Million TEUs of cargo handling in 2018 and lauded the efforts of all the employees and stakeholders who helped in achieving this success. The overall enhancement of the port efficiency elevated JNPT amongst the top 30 ports globally and is the only Indian port in the list. Apart from this, there are various capacity addition projects, connectivity projects, infrastructure projects implemented by JNPT to enhance the port’s business growth and efficacy. JNPT has also been conscious of its commitment to the society and has contributed for health, education and many others, as part of its CSR initiatives. The overall port development projects are also augmenting the development of the adjoining local community with better infrastructure, civic facilities and employment to the local patrons. Thus the entire region has progressed alongside the
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three decade journey of JNPT, and the growth story continues as the Port develops itself to be at par with the best Ports globally. The country has witnessed tremendous socio –economic progress in the last 70 years and the maritime sector has been a key contributor for the economic growth of nation, supporting approximately 90% of India’s trade by volume and 70% by value. Ports and shipping has become crucial for the economy with increasing global trade partnerships and as the premiere container Port in the country, JNPT has been pivotal in this growth story, handling over 55% of the containerized cargo amongst the major ports of India. The ‘ease of doing business’ initiatives implemented at JNPT has helped the EXIM community to save both time and cost of doing trade. This reflects in JNPT being credited for helping India leverage its position in the World Bank Ranking in trading across the borders, from 146 to 80, a jump of 66 points. The day ended with Shri Sanjay Sethi extending warm Republic Day greetings to all JNPT Employees, Trustees, CISF, Port users, students and teachers and all others who were present.The function also had wonderful programs presented by the JNPT school children which included some dance performances and other cultural activities by the children.
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THE SIGNS
The European Central Bank has sounded the alarm over the eurozone economy, warning a slowdown it thought would be temporary was showing signs of becoming long-lasting because of global trade tensions, Brexit and financial market volatility. But there are more. Freight rates for dry-bulk and container ships, carriers of most of the world’s raw materials and finished goods, have plunged over the last six months in the latest sign the global economy is slowing significantly. The Baltic Dry Index, measure of ship transport costs for materials like iron ore and coal, has fallen by 47 percent since mid-2018, when a trade dispute between the United States and China resulted in the world’s two biggest economies slapping import tariffs on each other’s goods. Dry-bulk commodities are taken as a leading economic indicator, because they are used in core industrial sectors like steelmaking and power generation, and analysts say the recent declines in activity point to a serious economic slowdown. “Signs that the U.S. and China remain well apart in trade talks continued to weigh on sentiment in commodity markets,” ANZ bank said in a note. This was after U.S. Commerce Secretary Wilbur Ross said on Thursday the United States and China were “miles and miles” from resolving their issues. “The global economy and dry-bulk shipping market are showing us very real signs of distress,” said Jeffrey Landsberg, managing
director of commodity consultancy Commodore Research. “While dry-bulk rates often face at least some pressure during the early stages of a year, the magnitude of the declines being seen lately have been very rare,” he said. The Baltic index has lost a quarter of its value since the start of the year, and dry-bulk is not the only shipping market under pressure. The Harpex Shipping Index, which tracks container rates, has dropped by 30 percent since June 2018. As a measure of the demand for shipping manufactured goods from producers to consumers, container rates are also seen as a leading economic indicator. Their slump underscores weakening manufacturing data from Asia, Europe and North America. “Slowing global economic growth, the unresolved U.S.China trade conflict, the U.S. government shutdown, and Brexit drama are all sources of uncertainty dragging at sentiment,” said Hussein Sayed, chief market strategist at futures brokerage FXTM. In the euro zone, a survey showed that business growth nearly stalled out at the start of 2019 as trade tensions and political woes meant incoming new work fell for the first time in over four years. Asian industrial powerhouse Japan posted similarly weak manufacturing data in its own survey this week. In China, the National Development and Reform Commission (NDRC) this week warned the downward pressure on the economy would impact its job market as falling factory orders point to a drop in activity in coming months. The United States has so far been in a better shape than other leading economies, but even there, manufacturing indices have been reflecting weakness since late 2018.
EXPORTS CARD US and China tariff war benefitting India’s exports: FIEO n BSN Network / New Delhi The tariff war between the US and China is benefitting India as its exports to the neighbouring country have increased by about 32 per cent to $8.46 billion during the June-November 2018 period, exporters body FIEO said. Exports to China had stood at $6.37 billion in June-
November 2017. In June and September 2018, the US announced high customs duties on several Chinese goods. In retaliation, China also raised levies on American goods. Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta also said that during
BHANDARKAR SHIPPING NEWS
TRIBUTE TO COM. GEORGE FERNANDES, FORMER DEFENCE MINISTER
29th January 2019 The veteran Socialist Labour Leader and Defence Minister Com.George Fernandes, aged 88 years passed away in New Delhi. In the year 1974 he had led the all India Railway strike and made history. He was always fighting against injustice and was very active in the trade Union movement. He was known as ‘Emperor of Bundh’. Adv.S.K.Shetye,President and Shri Sudhakar Apraj , General Secretary of Mumbai Port Trust, Dock & General Employees’ Union offered condolence.
Indian Register of Shipping (IRClass) Wins Two Indian Navy Contracts n BSN Network / Mumbai Indian Register of Shipping (IRClass) has secured a contract for the provision of classification services for 4 large survey vessels for the Indian Navy. These 110 metre vessels, which will be constructed by the Garden Reach Shipbuilders and Engineers Ltd., Kolkata, are the largest hydrographic survey vessels ever constructed for the Indian Navy. IRClass has also been awarded classification services of 2 diving support vessels by Hindustan Shipyard Ltd., Visakhapatnam to be built for the Indian Navy. These are the first ever specialised diving support vessels to be constructed in India. Mr. Arun Sharma, Executive Chairman, said, “I am pleased that IRClass the period, India’s exports to the US grew by 12 per cent. “Exports to China jumped from $6.37 billion in JuneNovember 2017 to $8.46 billion in June-November 2018,” Gupta said in a statement. He said commodities that
has won these prestigious Naval contracts for our classification services. We had envisioned strong opportunities in Defence sector which led to the creation of Defence Division in IRClass. These orders have come in the wake of our development of Naval Rules and Guidelines, with the co-operation of the Indian Navy, to meet the specialist needs of naval vessels.” “We began developing Naval Rules in 2006, and the latest version of these rules was promulgated in 2015. Securing of these orders has enabled IRClass to take a great leap forward in classing sophisticated naval vessels and we hope to continue our partnership with the Indian Navy and Coast Guard for future projects,” he continued. have exhibited high growth during the period to China include petroleum products, chemicals, cotton yarn, plastic raw material, and marine products. Contd. on page 17
BHANDARKAR SHIPPING NEWS
Mumbai, Thursday, 31 January 2019
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Mumbai, Thursday, 31 January 2019
Off-budget financing of capital expenditure
Capital expenditure accounts for around 15% of the total expenditure of the central government and is important to generate long-term growth as it involves investment. Post-defining the roadmap for fiscal deficit targets, the government has had to walk a tight rope of expenditure management, balancing spending between revenue expenditure on social and economic schemes and higher capital expenditure. There are two ways for financing capital expenditure: - Gross Budgetary Support (GBS): This amount is allocated by the government to different ministries for spending on capital projects. This amount comes directly from the Budget. - Internal and External Budgetary Resources (IEBR): These funds are raised by the central public sector enterprises (CPSEs) by way of profits, loans and equity amongst others. This is an off-budget component and hence does not form a part of the fiscal deficit calculation nor does it get added to the debt of the government as it pertains to independent PSUs which have their balance sheets and P & L. Internal resources (equity and accumulated profit reserves), fund-raising via bonds/debentures, external commercial borrowings (ECBs) or suppliers’ credit and other sources are the four ways of raising funds for the CPSEs under the IEBR component. In this study, we analyse the last 6 budgets and derive patterns of financing capital expenditure. This will throw light on what portion of the capital expenditure is allocated in the budget and what proportion is financed off-the budget as the Budget Speech does not distinguish between the two. Chart 1: summarises the bifurcation of the capital expenditure into GBS and IEBR for the previous 6 years.
- The GBS had declined by around 50% in FY15 while the IEBR declined marginally by around 8% in the same financial year. With a marginal contraction of 2% in FY18, there has been an increase in GBS in the other budgets (FY16, FY17 and FY19) compared with the previous year. - With an exception of FY19(BE), which saw a growth in IEBR of less than 1%, the increase in IEBR during FY16-FY18 has been robust ranging between 17%-35%. - Barring FY14, the off-budget allocation of capital expenditure via the IEBR has been higher than the budget allocation of capital expenditure. n BSN Network / New Delhi The export data for past two-three months, which are showing low or marginal growth, is a matter of concern to all. This is stated by Mr Ganesh Kumar Gupta, President, Federation of Indian Export Organisations (FIEO). Mr Gupta expects that the budget, though an interim one, will unveil certain benefits, particularly for MSME sector, and for those specific product clusters and research & development, which will help in increasing exports, giving boost to manufacturing and job creation. Exporters have to still bear the taxes on petroleum and
BHANDARKAR SHIPPING NEWS
Chart 2: focuses only on the funds raised by central public sector enterprises (CPSEs) through external sources like bonds/ debentures, ECBs and suppliers credit and excludes internal profits and others. This amount is off-budget amount available by the government to fund capital expenditure.
- The funds raised by the CPSEs via external resources which could be available to the government for investment spending has almost tripled in the previous 6 years from Rs. 0.72 lakh crs in FY14 to Rs. 2.1 lakh crs in FY19(BE). The growth in this component has been at a CAGR of 24%. - Although the funds available with CPSEs via external sources to be incurred on capital expenditure has been marginally lower in FY19 at Rs 2.1 lakh crs vis-à-vis Rs 2.2 lakh crs in FY18, the amount is significantly higher than FY14 (Rs. 0.72 lakh crs). - As a proportion of GBS, the funds raised via external sources have increased from 20% in FY14 to 69% in FY19, after peaking at 79% in FY18. This trend indicates that there has been a higher reliance by the government to fund capital spending via CPSEs rather than allocating funds in the budget under the head capital expenditure. - The amount of Rs. 2.1 lakh crs available to the government to fund capital expenditure through the external resources of CPSEs is 35% of the gross market borrowings (Rs. 5.4 lakh crs) of the government and 1/3rd of the fiscal deficit quantum (Rs. 6.2 lakh crs) in FY19. This amount does is not included in either arriving at the gross market borrowings for the year or fiscal deficit. - In addition, the cost of borrowings for the CPSE via bonds has been in the range of 8.5%-8.7% in the month of Jan’19, which has been around 120 -140 bps higher than the newly auctioned GSec which was trading at 7.33% as on 25 January, 2019. Concluding Remarks The Union government in its Budget has resorted to funds available with the CPSEs to undertake investment spending. Over the last 6 years, the allocation by the Central government on capital expenditure has either declined or remained at almost the same level. On the other hand, financing via the internal and external budgetary resources has seen a significant increase in absolute terms as well as a proportion of total gross budgetary source (GBS). Given this additional source of financing available with the government, the total capital expenditure allocation must always be read with caution.
Source:
Exporters expect Budget will provide assistance to arrest slowing exports: President FIEO electricity, state levies such as Mandi Tax, etc. and the Budget will provide measures for refund of the same to exporters, hoped the FIEO President. He is of the view that promoting exports in the budget and giving it a much needed support at a time when global economy is facing slowdown, will come as
a morale booster for the sector. Employment creation is the biggest challenge in the country and therefore budget should provide tax concession to units which create jobs in the country. Every incremental creation of jobs should provide tax deduction equivalent to the employees cost to unit, said Mr
Gupta. President FIEO emphasized that with a view to double farmers’ income, the Budget should allocate substantial fund for backward and forward linkages in agriculture including in cold chains and warehouses so that India build on a stable Agri Export Policy, announced earlier. FIEO Chief added that we are looking towards USD 2 trillion of exports and imports by 2025. This requires huge marketing support through a planned “Export Development Fund” with a corpus of at least 0.5% of the export value so that exporters can be supported in their aggressive marketing.
BHANDARKAR SHIPPING NEWS
GSTAT
GSTAT to be first common forum of dispute resolution between Centre and States n BSN Network / New Delhi
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT). The National Bench of the Appellate Tribunal shall be situated at New Delhi. GSTAT shall be presided over by the President and shall consist of one Technical Member (Centre) and one Technical Member (State). The creation of the National Bench of the GSTAT would amount to one time expenditure of Rs.92.50 lakh while the recurring expenditure would be Rs.6.86 crore per annum.
Goods and Services Tax Appellate Tribunal is the forum of second appeal in GST laws and the first common forum of dispute resolution between Centre and States. The appeals against the orders in first appeals issued by the Appellate Authorities under the Central and State GST Acts lie before the GST Appellate Tribunal, which is common under the Central as well as State GST Acts. Being a common forum, GST Appellate Tribunal will ensure that there is uniformity in redressal of disputes arising under GST, and therefore, in implementation of GST across the country. Chapter XVIII of the CGST Act provides for the Appeal and Review Mechanism for dispute resolution under the GST Regime. Section 109 of this Chapter under CGST Act empowers the Central Government to constitute, on the recommendation of Council, by notification, with effect from such date as may be specified therein, an Appellate Tribunal known as the Goods and Services Tax Appellate Tribunal for hearing appeals against the orders passed by the Appellate Authority or the Revisional Authority.
New design makes liquefied hydrogen bunker vessels a reality
n Agencies In response to the global ambition of reducing the environmental footprint from global ship transport, Moss Maritime, in cooperation with Equinor, Wilhelmsen and DNVGL, has developed a design for a Liquefied Hydrogen (LH2) bunker vessel. The vessel design comes at a time when hydrogen is finally developing into a viable solution for the
larger market. The future large scale use of hydrogen in both maritime and land-based industry will require vessels tailored for transportation and bunkering of liquefied hydrogen. The project, sponsored by Innovation Norway, was launched with the objective to clarify challenges and find solutions for storage and handling of this demanding cargo and fuel on a vessel.
Mumbai, Thursday, 31 January 2019
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EXPORTS CARD Contd. from page 4 “While tariff war is not good for the global trade, the same has come as an opportunity for other countries including India. Our exports to China in JuneNovember 2018 went up by 32 per cent and to US by 12 per cent in the same period,” Gupta said. If the tariff escalation continues, India has to increase production capabilities to meet the growing demand in both the
markets, he added. Growth in exports to China is beneficial for India as it has huge trade deficit with the neighbouring country. Trade deficit with China increased to $63.12 billion in 2017-18 from $51.11 billion in 2016-17. India is taking several steps to promote shipments to China. Recently it has managed to export agricultural goods such as non-basmati rice to China.
Sino South America Service (SSA) n Agencies PIL will enhance our Sino South America Service (SSA) by adding Itajai call with effect from Kota Lestari 087W/E eta TAO 31st January. SSA service will provide the fastest transit time from main China Ports into Itajai as well as from North Asia and South East Asia origin via transhipment. With this, we hope to be able to serve our customers better with a more comprehensive coverage from Asia to the state of Santa Catarina, Brazil. The revised port rotations of SSA service is as follows: Qingdao - Shanghai - Ningbo - Shekou - Singapore Sepetiba - Santos - Paranagua - Itapoa - Itajai - Navegantes - Santos - Singapore - Qingdao “Moss Maritime has utilized its long-standing experience from design of Moss LNG carriers in the development of the LH2 bunker vessel, where liquefied hydrogen at a temperature of -253 °C will offer advantages over pressurized hydrogen gas in relation to transportation costs. We are ready to support the ship industry in implementing solutions for liquefied hydrogen for future projects”, says Tor Skogan, Vice President LNG of Moss Maritime. The LH2 bunker vessel has cargo capacity of 9000 m³, with a cargo containment system designed to maximize insulation performance and meet the most stringent safety requirements. The vessel has been developed to provide liquefied hydrogen bunkering services to merchant ships, in addition to open sea transport. “Equinor believes hydrogen may represent an attractive energy solution for the sectors that are hard to decarbonize
and currently outside the scope of renewable solutions like batteries. Long haul maritime shipping is one of these and an important milestone has been passed by introducing a logistical solution for transport of liquefied hydrogen by the sea”, says Steinar Eikaas, VP for Low Carbon Solutions in Equinor. Håkon Lenz, VP Europe and Americas of Wilhelmsen Ship Management, adds: “We see hydrogen as a possible fuel for the future. The commercial feasibility of such a vessel is depending on the overall hydrogen market development. Once market signals show that there is a need for big scale liquefied hydrogen, we and our partners are ready to take this design to the next level. By initiating and participating in this project we prepare ourselves for meeting the demand of our customers in the years to come, and Wilhelmsen will always seek opportunities in new technology to enable sustainable global trade”.
Published by Vivek Bhandarkar for Bhandarkar Publications and printed at Navin Printers, 13, Krishna Kunj, 143, S. B. Marg, Matunga (W. Rly.) Mumbai-400 016. Editorial/Advertising/Circulation: Regd. Office: 10, Hammersmith Industrial Premises, Sitladevi Temple Road, Mahim, Mumbai - 400 016. Editor: Mrs B V Bhandarkar, Phone: (+91 22) 40764200 (100 lines), Fax: (+91 22) 24444250, e-mail: bhandarkarpub@bhandarkarpub.com /shippingnews@rediffmail.com Postal Regd. No. MH/MR/WEST/158/2006-2008 Regd No. MAHENG/2002/7260 Gandhidham: Bhandarkar Shipping News, 18, 2nd floor, Ajanta Commercial Center - 2, Plot No. 279, Ward 12/B, Gandhidham (kutch) 370201. Phone: 09724307499, e-mail: vgnews@bhandarkarpub.com
18 Mumbai, Thursday, 31 January 2019 DPT employees urged to work jointly for rapid growth of the port BHANDARKAR SHIPPING NEWS
First of all “I extend my hearty wishes to all present on the occasion of the 70th Republic Day of India. It was on this day in 1950 that we adopted the constitution. I pay my gratitude and respect to the developers of India’s constitution” said Deputy chairman, Deendayal Port Trust Mr. Bimal Kumar Jha. Like the previous years, for DPT, 2018 has also been a memorable year in terms of achievements and development projects. Besides, many new initiatives were launched during the year that will accelerate the development of this port. The development of cargo port number 14 – 16 and oil jetty number 7, 8 and 9 is progressing rapidly. Other development projects are also progressing and are at various stages of development. In the year 2017 – 18 the port handled record cargo of 110.09 MMT. For the year 2018 - 19 the target has been set for handling 115 MMT. DPT has provided substantial rebates and discounts to help the government’s efforts to promote the growth of
coastal shipping. As a result shipping lines have commenced new weekly services. DPT has initiated important steps for the growth of green energy. It has already commissioned 6 megawatt wind power project in Sukhpur village of Amreli district and it is in the process of setting up 14 megawatt project in its twin village in Junagad. These projects will not only make DPT self-sufficient for its energy needs but also help in providing surplus power to nearby industrial units at cheaper rates. DPT was first in giving arrears and revised salary to its employees and pensioners. This will have a positive impact on the morale of its employees. DPT has launched many initiatives for its employees and their children such as merit scholarship, meditations sessions, and cleanliness drive and awareness camps against HIV. The efforts of the port have been recognised at different forums. The deputy chairman expressed hope that with the positive joint efforts of employees and officers the port will attain greater heights.
Published by Vivek Bhandarkar for Bhandarkar Publications and printed at Navin Printers, 13, Krishna Kunj, 143, S. B. Marg, Matunga (W. Rly.) Mumbai-400 016. Editorial/Advertising/Circulation: Regd. Office: 10, Hammersmith Industrial Premises, Sitladevi Temple Road, Mahim, Mumbai - 400 016.