CARGOSOL

NEWSLINE VOL.162
TRENDING NEWS IN THE INDUSTRY

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PSA sets new record

In FY’23 PSA handled 1.714 mn TEUs -

37.72% growth over FY’22.

PSA is constructing 2nd phase of terminal

that will add 1 km quay & 44 hectares of
BMCT run by PSA Mumbai handled a stacking yard to handle 2.4 mn TEUs.
record 1,94,708 TEU in August.

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Booster shot for India’s port

Saudi Arabia part of the route for shipping

line, which will start from Cai Mep port in
Vietnam.

It will then touch upon ports in Thailand,

India’s maritime connectivity to get boost Malaysia & Nhava Sheva in Mumbai.
with RCL upgrading its service.

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Air freight peak season bounce

Outbound Hong Kong (BAI30) index was up

2.2%.

Air cargo rates out of Shanghai (BAI80) was

Overall market was flattish but air freight up by some 4%.
continued strong e-comm business.

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India on the cusp of a new era

Atma Nirbhar Bharat vision & establishing

GMIS 2023 are essential to India’s
transformational journey towards maritime
excellence.
India strengthening its position as global
centre for Blue economy.

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India’s service industry loses steam

S&P Global India services Purchasing

Managers’ Index fell to 60.1 in August.

India’s inflation expected to remain above the

RBI’s target range of 2% to 6% until October.
Growth in India’s service industry slowed
in August but export hit record high.

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Extension of export credit

Any issues in availing credit may be brought

to attention to the DGFT.

New Foreign Trade Policy (FTP) 2023 to

handhold & conduct outreach programmes to
DGFT suggests extending export credit in promote e-comm exports.
foreign currency to e-comm exporters.

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Export control on dual-use item

Special SCOMET (speciality chemicals,

organisms, materials, equipment &
technologies) list of dual-items is prepared
after inter-ministerial consultations.

To prevent terrorists from obtaining dual- New FTP 2023 to conduct outreach
use item, govt to tighten export control. programme to promote e-comm exports.

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Sources
India Shipping News | Loadstar

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