Of New Beginnings and Creating Milestones
Most of the time, the world doesn't work the way we want it to, and neither does business. A decision taken with the hope to achieve a positive outcome has a 50% probability of backfiring, which often creates an atmosphere of tension and glumness. There may be hundreds of such things in the supply chain industry that may bog us down, but as the saying goes: If you're positive, you'll see opportunities instead of obstacles.
In this week's newsletter, we bring to you a few of the many new beginnings and milestones created across the global supply chain industry that create the silver lining to the dark clouds of supply chain disruptions.
Before we begin, I would like to inform you that the latest issue of Logistics Insider magazine is out. This month's cover story highlights the importance of digitisation in the supply chain and why it is urgent to move towards this upgradation. This edition also gives a sneak peek into Open Network for Digital Commerce (ONDC) and its potential impact on Indian logistics and a lot more. Grab your copy now!
For a massive expansion project for the nation’s largest port by volume of cargo handled, the Deendayal Port in Kandla, Gujarat, India has sought global bids worth nearly Rs 6,000 crore.?This expansion project is expected to significantly increase the cargo-handling capacity of the Deendayal Port in Kandla, amidst competition from the privately controlled Mundra Port in Gujarat, which is India’s largest commercial port. According to the bid documents, the two new projects would cater to the future growth at Kandla in multipurpose and container cargo traffic.
The Directorate General of Civil Aviation (DGCA) has given the green signal to Akasa Air yesterday. Billionaire Rakesh Jhunjhunwala backed Akasa Air has received its Air Operator Certificate (AOC) and will start operations by July end. Akasa will be the fifth Indian budget carrier after IndiGo, SpiceJet, GoFirst, AirAsia India and Air India Express. Overall it will be the 8th big airline and will face stiff competition from Air India, IndiGo, SpiceJet, and Jet Airways. Akasa Air received their first Boeing 737 Max last month, and by end of FY22 their fleet will include 18 airplanes – adding 12 to 14 planes every 12 months to reach 72 birds over the next 5 years.
The government of Haryana has put together a new policy for setting up multi-model logistics parks, integrated container depots, agro-warehouses, cold chain facilities, and gas godowns. The new policy states that a minimum area of 100 acres will be required for setting up a multi-model logistics park, while a minimum of 50 acres will be needed for an inland container depot. For a logistics park, developers will require 25 acres. However, for warehousing with retail facilities and truckers parks (up to a distance of 2 km on/along the national highway) 10 acres each will be needed. The area needed for an agro-based warehouse must be at least 2 acres, followed by cold chain storage (0.5 acres) and gas godown (0.18 acres).
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On Monday, the Reserve Bank of India (RBI) announced a new rupee route – a settlement system – for foreign trade, which could help India promote its exports and facilitate trade with countries under sanction. Sources say the new settlement system is aimed at facilitating and expediting transactions with sanctions-hit Russia. Under the existing provisions of the Foreign Exchange Management Act (FEMA), all final settlements must be in free foreign exchange (USD), except for Nepal and Bhutan. With the new system, the final settlement to all countries can be in the Indian rupee, if approved by the RBI.
The Northeast Frontier Railways (NFR) has recorded 28% year-on-year growth in freight handling in Q1-FY22, as compared to Q1-FY21. For the month of June, it loaded 0.91 MT of freight which is 7.9% more than June 2021. The freight included stone chips, coal, potatoes and other commodities, which overall contributed an increased margin. Additionally, cement loading increased by 68.3%, Petrol Oil Lubricant (POL) loading rose by 17.3%, container loading grew by 27.8% and other commodities increased by 21.4%.
Marking the official launch of the eastern section of the North-South railway corridor, the first rail transit cargo carrying 39 containers from Russia to India entered Iran on Tuesday through the Sarakhs border crossing. The Russian transit train which left Chekhov station on July 6, travelled 3,800 kilometres through Kazakhstan and Turkmenistan to enter Iran. As reported by Tehran Times, the cargo will be transported to Bandar Abbas port in southern Iran through a 1600 km rail route to finally be sent to India’s Nhava Sheva Port via sea.?
In another successful alliance, Adani Group has won the tender for the privatisation of the state-owned Haifa Port in Israel by quoting 4.1 billion shekels (USD 1.18 billion). Adani Ports and Special Economic Zone Ltd. (APSEZ) will work in joint venture with Israel’s Gadot Chemicals Tankers and Terminal Ltd. (GCTT) for the privatisation of Haifa Port – Israel’s second largest port – while owning a 70% stake. Their joint venture will acquire a 100% stake in the Haifa Port Company. Gautam Adani, Group Chairman of the Adani Group took to Twitter to announce the good news.