Editorial: Are We Doing the Right Thing?

Port Wings, 01 April 2020:  In a public address to the country on March 24, 2020, Prime Minister Narendra Modi announced a 21-day lockdown, calling upon Indians to stay indoors, asserting that social distancing is the only way to stop the coronavirus.  “India will have to pay a very high …

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MSC Unveils New Flexible Cargo Service to Meet Demand From Asia

Chennai: Port Wings News Network: MSC Mediterranean Shipping Company’s new “Suspension of Transit” (SOT) programme is a flexible cargo service that will help to fulfil the imminent resumption of demand from Asia and ensure service continuity. It includes container yard storage in six transshipment hubs across Asia, the Middle East, …

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Chennai Port Acquires 100 Percent Stake in Kamarajar Port

Chennai: Port Wings News Network: Chennai Port Trust (ChPT) on 27 March 2020 acquired 67% stake of its subsidiary Kamarajar Port Ltd. (KPL) for ₹2,383 crore, according to The Hindu report. “This agreement comes into force with immediate effect,” said P. Raveendran, chairman, ChPT. “Our immediate focus is to utilise …

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Hapag-Lloyd Appoints New Executive in Asia

  Chennai: Port Wings News Network: Hans Schäfer, current Managing Director Global Sales in the Group’s Hamburg Headquarters, will assume the position of Senior Managing Director of Region Asia, as of July 1, 2020. Schäfer will replace Lars Christiansen, who will resign from his position as Senior Managing Director Region …

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Adani Ports Declares Force Majeure at Mundra and Dhamra Ports

Mumbai: Port Wings News Network: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operating firm, has declared force majeure at its facilities in Mundra, Tuna and Dhamra in the wake of a three-week lockdown imposed by the government to check the spread of Corona Virus, reports …

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Editorial: Ease of Doing Business

Port Wings, 25 March 2020: The Centre has allowed exporters also to pay terminal handling charges (THC) directly to the terminals, bypassing the shipping lines, to cut logistics costs and promote ease of doing business. To start with, Jawaharlal Nehru Custom House, which serves Jawaharlal Nehru Port Trust (JNPT), India’s …

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IATA Estimates Deeper Revenue Hit From COVID-19

Chennai: Port Wings News Network: The International Air Transport Association (IATA) updated its analysis of the revenue impact of the COVID-19 pandemic on the global air transport industry. Owing to the severity of travel restrictions and the expected global recession, IATA now estimates that industry passenger revenues could plummet $252 …

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