The Baltic Dry Index; Why India missed the bus
Sheela Mamidenna The Baltic Dry Index on Wednesday stood at 1,162 against a record low of 290 experienced in February. The index shows there has been a four-fold rise in figures. Indian shipping companies could have used this opportunity to reap benefits but failed to do so. This can be considered a missed opportunity and India’s lack of efficient shipbuilding and ancillary industry is to be blamed for it. At a time when Global shipping giants are reeling under pressure, a case in point being Hanjin, the Shipping Giant from South Korea declaring bankruptcy, this could have been the ideal time for India’s shipping industry to grab a share of this market which could be a huge foreign exchange churner for the country. As ...
Week-long strike comes to an end at Nhava Sheva port
The Dollar Business Bureau APM Terminals Mumbai has announced that labour issues related to its outsourced RTG (Rubber Tire Gantry) cranes’ operators has been resolved and normal operations have resumed from Wednesday. Due to the strike by RTG operators, container handling operations have been severely affected at the terminal for the last week, leading to congestion and delay in sailing of vessels. APM Terminals Mumbai, also known as Gateway Terminals India (GTI), is India’s largest container terminal handling facility and one of the three major terminals of Jawaharlal Nehru Port. The terminal had handled 2.01 Million TEUs in FY2014-15, representing approximately 20% of India’s total containerised cargo. APM Terminals Mumbai has said that a fresh round of discussions on August 11 between ...
Freight corridor to reduce traders transaction cost, spur exports
The Dollar Business Bureau Upcoming dedicated freight corridors, linking various parts of India, will enhance export competitiveness of traders across the country by reducing traffic congestion and transaction cost. The government has formed a company - Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) – to develop a mega commercial railway corridor by 2017. According to experts, the step has strategic importance for the Indian government to regain railways’ lost freight share, decongest existing passenger lines, and accelerate industrial growth. Despite having the world’s largest railways network with 115,000 kms of track route, Indian Railways’ share in freight movement declined from 86% to 35.5% in the last 50 years. The upcoming freight corridor project is expected to give impetus ...
