Monthly Archives: November 2016

Nov 25

India set to bolster her Commercial Shipping Trade

By Godfrey | Blog

ET – New Delhi | November 25, 2016

The government of India is planning to develop a number of new and small ports for commercial shipping transportation, to bolster its trade according to the Ministry of Shipping circular.

Based on the traffic and cargo scenario of the country’s 12 Major Ports, a master plan has been prepared for expansion of port capacity, which includes a number of new ports.

Namely, it is understood that India’s Kolkata Port proposed the development of a port at Sagar Island, West Bengal, in an effort to reduce the constraints including long river navigation, available draft navigation due to persistent siltation and high dredging cost. Projected traffic is to be around 3.5 million tons per annum in 2020 increasing to around 27 million tons in 2035.

The cost of the first phase of the Sagar Island port is pegged at $314Millions. Enayam Port is expected to generate income of $246Millions per annum by the year 2020. Its first phase will cost $1.409 Billion, while the total project cost is pegged $5.912 Billion.

Additionally, V. O. Chidambaranar Port proposed the construction of a port in Enayam near Colachel, Tamil Nadu. Detailed Project Report (DPR) for the site is currently under preparation and the first container berth in Phase-I is expected to be operational by December 2020.

Furthermore, Paradip Port Trust suggested the development of Paradip Outer Harbour in Odisha, which would increase the port’s capacity from from 140 to 250 million tons per annum by 2020.

Techno-Economic Feasibility Report (TEFR) for the Paradip Outer Harbour upgrade has been prepared and a Detailed Project Report (DPR) is expected to be completed by the end of May 2017

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Nov 22

New Marine Cargo Insurance rule on Import Cargo to curb expatriation of $4.89Billions from East African economies

By Godfrey | Blog

Nairobi, Kenya | November 21, 2016,

ASL-truck sThe East African economies have been losing billions of dollars annually in form of Marine Cargo Insurance (MCI) premiums, which are being repatriated to foreign insurance underwriters. The regional shipping body Intergovernmental Standing Committee on Shipping (ISCOS) has attributed this trend to lack of proper knowledge by shippers and poor implementation of the existing state laws.

Kenya and Uganda have been losing More than $170M and $90M respectively to foreign insurance firms in form of Insurance premiums.

In the region, Kenya is setting up pace following the Kenya National Treasury’s directive to cargo importers requiring that all imports to Kenya be insured by Kenyan underwriters’ insurers with effect from January 1, 2017.

Permanent secretaries of the Ministries of Transport and Trade in Kenya, Tanzania, Uganda and Zambia met in the Port City of Mombasa where they directed ISCOS to spearhead the Marine Cargo Insurance initiative in all the member states.

The Regional Shipping body, ISCOS has already held various meetings with the Insurance authorities from the member states in a bid to work on modalities for the implementation of the policy directives when it comes into force.

The policy directive from ISCOS’ coordination committee gives it impetus to drive to on-shore MCI in the region, with a projected annual savings and retention of Millions of dollars in ISCOS member states’ economies.

According to ISCOS, Burundi, Congo, Kenya, Rwanda, Tanzania, Uganda, Malawi and Zambia, exported marine insurance premiums worth more than $ 4.89 billion between 2009 and 2013.

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