Search Result for : Cargo

The Dollar Business Bureau The major Indian ports have witnessed a positive growth of 3.27% during first seven months of the current fiscal, with the highest growth recorded by Cochin Port at 17.66%. In terms of commodity, the highest growth was recorded in the cargo of petroleum, oil and lubricants (POL) at 34.07%. “The major ports in India have recorded a growth of 3.27% during the period April to September, 2017 and together handled 383 million tonnes of cargo as against 371 million tonnes handled during the corresponding period of previous year, said a statement by Ministry of Shipping. Out of a dozen major ports, eight ports including Cochin, Kolkata, Chennai, Paradip, Mumbai, New Mangalore, Kandla and JNPT witnessed a positive growth in traffic during the ...

By Abin Daya The Government is working to improve the ‘ease of doing business’ ranking of the country, and one of the areas of focus is the time it takes for manufacturers to get their imported raw materials and components, out of the port and into their factories. The numbers are not very encouraging, and it currently takes about 9-10 days to get a container out of the port and on its way to the manufacturer. With a view to improving this, the Direct Port Delivery arrangement was started in 2016. How is it faring? Please read on in this week’s update. The most important story of this week, definitely, is the 25 bps cut that the Monetary Policy Committee permitted on ...

The Dollar Business Bureau China will ban the imports of coal from July 1 at small ports, according to a report by the state-run newspaper - China Securities Times on Wednesday. China, the world's largest coal consumer, tightens the supply of this fuel as part of its efforts to manage glut as well as smog. The move to ban coal imports is one of the latest attempts by the country to control the coal supply during summer and also to support the prices, which have fluctuated in the previous year in the wake of a series of regulations which are aimed to keep the prices of the fuel high enough so that they can support the miners.  The ban will only cover tier II ports that were set up with approvals ...

The Dollar Business Bureau The Central Board of Excise and Customs has amended the Bill of Entry (Electronic Integrated Declaration) Regulations and Bill of Entry (Forms) Regulations – a part of the Customs Act, 1962 - to prescribe late charges for delayed filing. The amendments have been made to prescribe a late charge for delayed filing of Bill of Entry. After the amendment, the importer will be required to present the bill of entry before the end of the next day after the aircraft or vessel or vehicle carrying the goods has arrived at a customs station at which such goods are to be cleared for home consumption or for warehousing. The free period for filing a bill of entry is till the ...

PTI With an aim to boost ‘logistics efficiency’, the Centre is looking at developing economic corridors and also planning to come up with logistic parks on national highways, Parliament was informed on Monday. “Ministry of Road Transport and Highways got a study conducted on logistics efficiency enhancement. The report has made several recommendations including, inter alia, development of economic corridors, feeder routes and removal of choke points, along with development of logistics parks on national highways,” Minister of State for Highways Mansukh Lal Mandavia told the Rajya Sabha in a written reply on Monday. He said the recommendations have been accepted and the work of developing logistics parks at identified locations in partnership with state governments has been entrusted to National Highways Authority ...

The Dollar Business Bureau  Budget 2017-18 has given much to be happy about, in terms of striking a balance between fiscal consolidation and public spending. Amidst shrinking private investment, short-term negative effects of demonetisation, and dim global trade scenario, the Budget was a presentation of hope.  While SMEs have much to celebrate after Jaitley announced 25% tax for companies having a turnover of less than 50 crore, start-ups got their tax holiday extended from 3 out of 5 years (in 2016-17) to 3 out of 7 years (in 2017-18). In the government’s bid to digitalize the economy, it has also caped cash transactions at Rs. 3,00,000.  Overall, the budget refocused the government’s prime policy areas of fiscal consolidation, tax compliance, digitalization, rural upliftment, ...

The Dollar Business Bureau With the successful implementation of SWIFT for imports and exports, the Government has asked CBEC to test run the online release from Partner Government Agencies (PGAs) for exports from January 5, 2017. The pilot project is to be tested at Chennai, Delhi and Mumbai Air cargo complexes during the handling of wildlife items that are listed under Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).  Since these items require special handling and the concerned officers at the above-mentioned air cargo complexes have to inspect and certify by endorsing on relevant CITES permits. Though handling and shipping of endangered flora and fauna are restricted to pass through seven earmarked ports, the CBEC has for its ...

The Dollar Business Bureau Even before the construction of Multi-Modal terminal at Haldia in West Bengal kicks off, it has received a commitment of 5.92 million tons (MT) per annum of cargo volume by the year 2018 from the Industry, indicating huge cargo potential of the proposed terminal. Fly ash is expected to be the major cargo with a commitment of 3.8 MT followed by vegetable oil (0.63 MT), cement (0.36 MT), among others. In a series of consultations with Inland Waterways Authority of India (IWAI) held at Haldia last month, various industries, firms, shipping lines, cargo operators, shippers, and manufacturers committed transportation of cargo like Fly ash, Edible oil, Vegetable oil, Gypsum etc. by 2018, the year Haldia terminal is ready for ...