Putin Inaugurates Second Baikal Tunnel to Railway Traffic

Chennai: Port Wings News Network: Russian President Vladimir Putin opened the second Baikal tunnel on the Baikal-Amur Mainline to railway traffic on 28 July via videoconference. Oleg Belozerov, Chief Executive Officer – Chairman of the Executive Board of Russian Railways, Alexey Tsydenov, Head of the Republic of Buryatia and Ruslan …

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Editorial: Global Trade Roars Back

Chennai, 28 July 2021: Globalization is back with such a vengeance that the shipping lines are struggling to keep up, sending freight rates to astronomic levels. The onset of the pandemic early last year slashed trade volumes and highlighted the vulnerability of the extended supply chains that are the hallmark …

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DNV Backs Crew Change Programme in South East Asia

Chennai: Port Wings News Network: DNV, the world’s leading classification society and risk management expert, is embarking on an instrumental role in helping to facilitate safe crew changes amid South East Asia’s COVID crisis as an auditor in the multi-party backed CrewSafe programme. CrewSafe is the creation of the Singapore …

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Air Cargo Posts Strongest First Half-Year Growth Since 2017: IATA

Chennai: Port Wings News Network: The International Air Transport Association (IATA) released data for global air cargo markets for June showing a 9.9% improvement on pre-COVID-19 performance (June 2019). This pushed first half-year air cargo growth to 8%, its strongest first half performance since 2017 (when the industry posted 10.2% …

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DP World Reports Strong Volume Growth of 17.1% In 2Q2021

Chennai: Port Wings News Network: DP World Limited handled 19.7 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the second quarter of 2021, with gross container volumes increasing by 17.6% year-on-year on a reported basis and 17.1% on a like-for-like basis. Growth in 2Q21 accelerated …

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Editorial: Sops to Indian Shipping Liners

Chennai, 21 July 2021: In order to address the cost disadvantage suffered by Indian flag ships, Finance Minister Nirmala Sitharaman has in her Union Budget for 2021-22 speech had announced a scheme providing Rs 1,624 crore over five years to promote flagging of merchant ships in India by providing subsidy …

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