Stock market news: Hirose Tech tops Taiwanese gainers with a 25.15% rise
At 1:01 pm Friday, 22 November 2024 (GMT+8), Hirose Tech Co. Ltd. led gains on the Taiwan Stock Exchange, surging 25.15% to 53.00 TWD. Acon...
Maritime & Trade
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Mazagon Dock eyes new warship projects, anticipates robust growth in FY25 amid strong order pipeline
The Mumbai-based shipyard, known for constructing sophisticated warships and submarines for the Indian Navy, is currently in discussions with several international and domestic clients to secure new contracts.
Nhava Sheva port temporarily averts transport strike amid rising cargo volumes
Transport unions had planned the strike in response to long-standing grievances over issues such as delays in cargo clearance, high operational costs, and inadequate infrastructure.
Adani Krishnapatnam port launches state-of-the-art cargo handling system
The new cargo handling system incorporates the latest technology, including automated equipment and real-time tracking systems, which will enable faster and more accurate handling of a diverse range of cargo. This development is part of the Adani Ports and Special Economic Zone (APSEZ).
Exports of key commodities decline amid growing trade deficit from April to July
Data from the Ministry of Commerce and Industry reveals that exports of crucial commodities, including textiles, pharmaceuticals, and engineering goods, have fallen significantly. The decrease in export volumes is attributed to a combination of factors, including weakened demand in key international markets, fluctuating commodity prices, and ongoing logistical challenges.
JNPT container operators association postpones work stoppage to september 9, 2024
Key issues prompting the planned stoppage include demands for improved working conditions, better contractual terms, and more effective grievance redressal mechanisms. The association has expressed frustration over the slow progress of negotiations and the perceived lack of responsiveness from port management.
India commences major infrastructure projects in Addu city, Maldives
Indian contractors and engineers, in collaboration with local Maldivian authorities, are spearheading the construction efforts, ensuring that the projects are completed to international standards.
Cochin port’s ICTT reports 7% drop in container traffic for July 2024
The decline is seen as part of a broader trend affecting major ports worldwide, as global trade patterns continue to be disrupted by inflationary pressures, fluctuating commodity prices, and ongoing geopolitical tensions.
Shipping lines mobilise to clear backlogged exports at Chittagong port
Chittagong Port, which handles about 90% of Bangladesh’s total trade, has been under pressure due to a surge in export volumes, particularly in the ready-made garments sector, which is a key driver of the country’s economy.
Egyptian vessel MV Wadi Albostan arrested at Paradip Port over legal dispute
Industry experts note that such arrests, while relatively rare, highlight the importance of adhering to international maritime agreements and contracts.
IIT Roorkee partners with CONCOR to drive innovation in logistics
The partnership is expected to result in the development of innovative logistics solutions that could be scaled across the industry, benefiting a wide range of stakeholders, including manufacturers, retailers, and logistics service providers.
Kolkata port’s direct service to China sees strong demand
Kolkata Port Trust (KoPT) officials have reported that the service has already reached near-full capacity on several sailings, highlighting the pent-up demand for direct shipping solutions.
Direct shipping service launched between Chittagong port and China
The newly launched service will connect Chittagong directly with major Chinese ports, including Shanghai, Shenzhen, and Ningbo. The direct route eliminates the need for transshipment at intermediary ports, which has traditionally been a time-consuming and costly process.
PIL expands Intra-Asia services with new China-Chittagong Express
The China-Chittagong Express service is designed to provide a direct and efficient link between key ports in China, including Shanghai, Ningbo, and Shekou, and Chittagong, Bangladesh's principal maritime gateway.
Hapag-Lloyd announces rate increase for Asia-Latin America shipping routes
Hapag-Lloyd has emphasized that the rate adjustment is aimed at ensuring the sustainability of its services in the Asia-Latin America corridor, a critical route for the company given the significant trade volumes between the two regions.
COSCO shipping lines achieves TISAX certification for information security excellence
The certification process involved a comprehensive evaluation of COSCO Shipping Lines' information security management systems conducted by independent auditors.
India’s exports decline by 1.5% in July as trade deficit expands to $23.5 billion
With a current value of $23.5 billion, the growing trade deficit represents the greatest disparity between India's import and export activities since January 2023.