Jharsuguda, Odisha notified as ICD for imported goods and loading of export goods
The Dollar Business Bureau Under the aegis of Container Corporation of India Ltd (CONCOR), a multi-modal logistic park was set up at Jharsuguda which has been operational since June. The CBEC has decided to include Jharsuguda as an Inland Container Depot (ICD) in its latest notification No.139/2016-Customs (N.T.) dated 25th November, 2016. Jharsuguda is the second ICD in Odisha after Balasore. CONCOR Jharsuguda was operational as a Domestic Container Terminal for the first 3-4 months and later converted as an ICD. This terminal will provide dedicated service to the industry along with customs clearance and cargo consolidation facilities. In recent times Jharsuguda district has witnessed large scale industrialisation due to the ambitious plans of Chief Minister Naveen Patnaik. One such proposal was the setting up ...
GST positive for port logistics, paints, adhesive firms: ICRA
The Dollar Business Bureau The introduction of the goods and services tax (GST) is a critical and long-awaited tax reform, which intends to simplify and rationalise India's indirect tax regime. There is some uncertainty as to whether the GST can be implemented on a pan-India basis from April 1, 2017. Several key variables are yet to be finalised, which are likely to affect the impact of the GST on ease of doing business. According to ICRA’s Senior Vice President and co-head of Corporate Sector ratings, K Ravichandran, implementation of GST will be positive for some of the port logistics players such as CONCOR, Gateway Distriparks and All cargo Logistics as GST will lead to a realignment of warehousing and supply chain requirements ...
Krishnapatnam Port launches new services
The Dollar Business Bureau As part of its expansion plans, Krishnapatnam Port is coming up with more number of container terminals. The port has recently launched the weekly service of a container, M V Maersk Bentonville that directly plies between Krishnapatnam and Salalah (Oman). The container will be servicing the importers and exporters of Telengana, AP, Karnataka and Northern Tamil Nadu to the ports of Africa, Europe, Mediterranean and the US East Coast. The Salalah – Krishnapatnam Port service will greatly minimise the cost and transit time in the ports that come during the course of its journey. This will be advantageous to the Krishnapatnam Port Container Terminal (KPCT) customers. The Salalah – Krishnapatnam Port service will also get a boost from ...
Vallarpadam terminal sets 4 lakh TEUs container handling record
Sisir Pradhan | The Dollar Business International Container Transhipment Terminal (ICTT) at Vallarpadam for the first time since its inception has handled more than 4 lakh TEUs (twenty foot equivalent units) in a single financial year. The terminal which was developed with a vision to boost India’s container transhipment and check rising outflow of transhipment containers to Colombo, has been in troubled waters for various reasons since its commissioning in 2011. A special purpose vehicle, India Gateway Terminal Pvt. Ltd. was formed in 2004 to develop the terminal with Dubai-headquartered DP World having a majority equity holding of 81.63%. Despite having a dedicated road and rail connectivity and a terminal with 14.5 metre draft and capability to handle post panamax vessels, ...
Government sets up CCFCs at ports to expedite customs clearance
Source: PTI The government has set up Customs Clearance and Facilitation Committees (CCFCs) at ports to ensure expeditious customs clearance of goods to improve ease of doing business for traders. “Ease of doing business: Customs Clearance and Facilitation Committees in ports bringing in systemic improvements. It’s a recent initiative,” Revenue Secretary Shaktikanta Das said in a tweet. It will facilitate trade at all the major customs seaports and airports. Welcoming the move, exporters body Federation of Indian Export Organisations (FIEO) said the move will help in getting faster clearances from different agencies. “Traders take clearances from different agencies for exports and imports. These committees will help in resolving matters related to clearances. Any delay in this process impacts traders,” FIEO ...
CONCOR starts new weekly train between Krishnapatnam Port and ICD Whitefield
Sisir Pradhan | The Dollar Business Container Corporation of India (CONCOR) has started a new train weekly service between Krishnapatnam Port Container Terminal (KPCT) and Inland Container Depot (ICD) at Whitefield in Bengaluru. The new freight train service started its maiden run on June 19, 2015 with a full load of import laden containers belonging to traders in Bengaluru city region. Given the fact that due to bad road connectivity and limited rail service to Mangalore Port, majority of importers and exporters in the region prefer other ports like Chennai, Kochi, Krishnapatnam and even Tuticorin. The new weekly rail service will help more efficient and faster transit of containers between the ICD and the port. Due to the new service traders ...
