February 3rd, 2011
The Prime Minister, Dr.Manmohan Singh, will dedicate to the nation the country’s first transhipment hub, DP World’s Vallarpadam International Container Transhipment Terminal (Vallarpadam ICTT), as well as the port based special economic zone (SEZ) here on February 11. Dr.Singh is also scheduled to deliver the keynote address on the occasion. And addressing the media at a press conference will be senior members from the DP World global organisation, inlcuding Mr.Mohammad Sharaf, CEO, MR.Anil Wats, COO, and Mr.Anil Singh, Senior Vice-President and Manager Director, DP World Subcontinent Region.
The is being described as a truly historic occasion as India’s first transhipment terminal is ready to be unveiled after nearly two decades of being on the anvil. The first phase will see a quay length of 600 meters and design capacity of 1 million TEUs. The total investment in Phase I of the project, which includes construction of the terminal, dredging, and rail road connectivity, is estimated at over Rs.3,000 crore invested between DP World and the government of India.
The terminal is being developed over phases, and in the final phase it will have capacity to handle 4 million TEUs, equipped with a 1,800 metre quay length, the longest quay of any single operator in the country. The terminal’s draught will be enable the berthing of the largest vessels in operation.
According to Mr.Anil Singh stats that ICTT is going to revolutionise trade in India. Over 45 per cent of India’s container trade still makes its way overseas through transhipment in Singapore. Malaysian ports, Colombo, Jebel Ali and Salalah. We are talking about close to 4 milion TEUs of transhipment cargo; hence having a transhipment hub within the country is definitely going to boost trade by lower cost of transportation, and make our goods overseas a lot more competitive. India is an economy with a huge trade potential, and ICTT is truly going to be a catalyst in taking India’s trade to a new level. Along with the right location, and deep draughts, the terminal is equipped with all the requisites of a world class facility that can attract the mega containerships afloat today.
Tags: Container, SEZ, Transhipment, Vallarpadam
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January 28th, 2011
The Textiles Ministry is unhappy over the allocation of cotton export quota given by the Commerce Ministry and suggested that the procedures may changed. The Union government has restricted exports to 5.5 million bales for the current cotton season. While administration of the determining cotton export quota for exporters was vested with the Textiles Ministry till December 15, the responsibility has been recently taken away by the Commerce Ministry.
The Textiles Secretary, Ms.Rita Menon, has communicated to her counterpart in the Commerce Ministry, Dr.Rahul Khullar, seeking reversal of the procedure for giving allocations to traders for the natural fibre exports. Sources said, the Commerce Ministry accepted applications for export quota allocation even from traders who have no experience in cotton trade. Of the 5.5 million bales, 3.8 million had already been exported till December 15.
The Textiles Ministry has expressed the fear that the fresh allocations would breach the overall threshold in a situation where domestic prices are quite high. At present, the prices are ruling at about Rs.44,000.00 a candy (356 KG) compared to Rs.33,000.00 in the same period last year.
Tags: Cotton Exports, Textiles Ministry
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January 28th, 2011
The Tea Board is looking at Singapore as a platform to tap the export market in the Asia-Pacific (APAC) region. ”We have to use the midpoint to markets in Asia-Pacific”, the Tea Board Deputy Chairman, Ms.Roshni Sen, said after hosting the inaugural session of the buyer seller meet here. The Asia-Pacific markets are dominated by Chinese tea, but Indian Exporters are confident of offering good quality tea, said an exporter.
Tags: Export Market, Indian Exporters
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January 28th, 2011
The India-Japan global partnership summit will be held in Tokyo in September this year. The three-day summit will include an India-Japan expo and the concurrent fora, including the shipping business, academic, policy, youth and cultural forum of non-government initiatives, the organisors said.
The summit will focus on sectors like agriculture, energy, manufacturing, healthcare, banking information and communication technologies, etc., The India-Japan global partnership initiative was announced in 2000 by the Prime Minister, Mr.Atal Behari Vajpayee, and his Japanese counterpart, Mr.More Yoshiro. Business leaders, policymakers, academicians, researches, opinion leaders and the youth are expected to participate.
Tags: Indian shipping, Japan Shipping, Partnership
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January 26th, 2011
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