Surge in Indian Exports

India’s exports surged by 52% in the first half of 2011 according to figures released by the Indian Commerce ministry. In September alone Indian exports grew by 36.3% year on year to $24.8 billion primarily lead by engineering and oil and gas products.

Total imports during the last 6 months were estimated at $233.5 billion up 23.4% in the same period in 2010

MISC Announces Its Exit From The Liner Business

MISC Berhad (MISC) today (24.11.11) issued a statement announcing its decision to exit the liner business (container shipping) via cessation of the said business.

The Company, explained that the radical change in the operating dynamics of the liner industry which is driven by high operating cost and rapid changes in global trade patterns is challenging the validity of today's operating models.

 

MISC said that after due consideration of operational and legal requirements, the Company anticipates cessation of the liner business to be by end June 2012.

Port Botany “inhibiting” Australian growth 

Serious congestion at Port Botany in Sydney over the last eighteen months has resulted in significant cost impacts for exporters and importers in the state of New South Wales, and the country as a whole, according to Llew Russell, CEO of Shipping Australia.

“In a seven-week period from September 1 to October 20 this year, twelve of our container carriers alone lost AU$12.12 million (US$12.3 million) over 84 voyages in additional fuel costs as a result of delays waiting at the berth and/or speeding up in an attempt to maintain schedule integrity,” said Russell. “Extrapolating over twelve months the cost would be in the vicinity of AU$156 million for only twelve container shipping lines let alone all the container carriers serving the Australian trade. An important issue is the cascading effect on other ports of call in Australia.”

Russelll notes that major congestion in one port results in both direct and indirect costs. For example, shipping companies face the requirement to occasionally omit both Australian and overseas port calls to recover the sailing schedule. Omitted port calls create headaches for repositioning containers to meet future demands.

 

 

 

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