DP World to develop a US$510 million mega-container terminal in India.
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DP World to develop a US$510 million mega-container terminal in India.
DP World has entered a concession agreement with the Deendayal Port Authority to develop, operate and maintain a new 2.19 million TEU per annum mega-container terminal at Kandla in Gujarat on India’s western coast. In January, the Deendayal Port Authority granted a concession to Hindustan Infralog Private Limited, a collaborative venture between DP World and the National Investment and Infrastructure Fund, a government-supported investment platform in India. This concession, spanning 30 years under the Build-Operate-Transfer (BOT) framework, comes with an option to extend for an additional 20 years.
G20 disruptions might dampen renewed optimism among Indian airfreight forwarders.
In the midst of a turbulent year marked by fluctuating demand conditions, Indian airfreight forwarders are finally catching a glimpse of brighter prospects. However, there is a general sentiment that the supply chain disruptions looming in the run-up to the G20 Summit could tamper their optimism. Market sources have indicated that a resurgence in e-commerce shipments and seasonal holiday sourcing from the US and the EU have given the industry a modest boost. Joy John, Director of Sea and Air Freight at Jet Freight Logistics, cautiously remarked, “The overall market sentiment is somewhat more positive than recent downturns.” He also pointed out that amid generally stable freight rates, fuel surcharges have contributed to increased pricing for select carriers.
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Canada pauses FTA negotiations with India, both take a mutual decision on resumption.
While the Free Trade Agreement (FTA) negotiations between Canada and India have been in progress for a long time, Canada has put a temporary halt to these negotiations and officials from both nations have decided to mutually determine when these discussions will resume in the future. “The Canadian side conveyed that they were taking a pause in India-Canada negotiations on the Early Progress Trade Agreement. This will enable us both to take stock of progress and next steps. We will decide by mutual agreement when negotiations will resume,” the official stated.
Mango Export from BLR Airport Records an Uptick of 124% in 2023.
As the mango season has drawn to a close, Kempegowda International Airport Bengaluru (KIAB/BLR Airport) has recorded a remarkable surge in mango exports setting a new benchmark when compared to the previous year. Demonstrating a consistent upward trend in exports, BLR Airport has achieved an impressive 124% growth in mango exports for this season compared to the previous year, establishing a three-year tonnage record. In 2023, BLR Airport processed an export of 6,84,648 kgs of mangoes, showcasing a significant rise from the 3,05,521 kgs exported in the previous year. Furthermore, this season’s exports saw an impressive 86% increase in the number of pieces, with approximately 17 lakh pieces of mangoes being exported.? Read more
A closer look at the logistics behind India’s G20 preparations.
Having hosted 200 G20 meetings in almost 60 locations throughout the country in the past, India has had a remarkable history underscoring its competence in organizing international gatherings of this magnitude. This wealth of experience has played a pivotal role in India’s comprehensive preparations for the forthcoming event. India’s commitment to providing a secure environment for the G20 Summit comes with logistical adjustments. To be held in Delhi in a week, India is looking at handling big delegations during the summit. With more than 40 countries and international organizations participating, India is expecting to see at least 30 world leaders and their respective entourages grace the summit. The US President, Mr Joe Biden alone is traveling with more than 700 people.? ? ? ? ?? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Read more