SHIPMENTS
Security agencies seize Chinese shipment of banned chemicals for Pakistan at Tamil Nadu port
Security agencies seized a Pakistan-bound consignment of banned tear gas chemicals from China at a Tamil Nadu port. Officials claim Pakistan is developing chemical warfare capabilities with China's help. The shipment from Chengdu Shichen Trading Co. Ltd to Rohail Enterprises in Rawalpindi was intercepted and contained 2560 kg of Ortho-Chloro Benzylidene Malononitrile, a controlled substance under international regulations.
Adani Group's Vizhinjam Port receives first mothership, San Fernando; puts India in world league
Thiruvananthapuram, Adani Group's Vizhinjam Port, India's first trans-shipment port near Kovalam Beach in Kerala, received its first mothership on Thursday. 'San Fernando', a vessel of the world's second-largest shipping company Maersk, arrived at the po...
India mulls easing rice export limits in boon to world buyers
India, top rice exporter, might ease export limits before October's crop. Plans include fixed duties on white rice and removing the 20% tax on parboiled rice to reduce Asian prices, aiding West Africa and Middle East. Monsoon rains boosted sowing recovery, increasing acreage. Data indicate increased sowing for the main rice crop since 2023.
Reliance Industries starts testing country's first smart television operating system
Reliance Industries is beta testing its Android-based Jio TV OS for a Diwali launch. Competing with Samsung and LG, it will run 4K TVs under BPL and Reconnect, announced by Akash Ambani. Licensing deals and JioCinema integration drive revenue. Jio TV OS is open source. Bug fixes are ongoing amid market trends showing a decline in small-screen TV demand.
Bright future for air cargo sector; need to ensure faster turnaround time: Official
The Indian government is working on improving processes and ensuring faster turnaround time in the air cargo sector to tap its potential. The government is also developing logistics hubs to improve the ease of doing business. The air cargo sector accounts for nearly 10% of domestic carriers' revenues and is estimated to grow to USD 16.37 billion by 2027.
Mobile phone exports: India captures 50% share of fall in shipment from China, Vietnam
India's proactive strategies in capturing supply chain shifts, coupled with diversification efforts through the China+1 strategy, have propelled the country into a leading position in mobile phone exports. The remarkable growth in exports, particularly in the iPhone segment, signifies a significant milestone for India in the global market.
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Apple's iPhone shipments in China surge 40% in May amid aggressive discounting
Shipments of foreign-branded phones in China increased by 1.425 million in May to 5.028 million units from 3.603 million a year earlier，calculations based on the data from the China Academy of Information and Communications Technology (CAICT) showed.
Leather, footwear exporters seek PLI scheme in Budget to boost jobs, manufacturing, shipments
The Council for Leather Exports (CLE) urged the government to extend the Production-linked Incentive (PLI) scheme for the leather and footwear sector to boost job creation and manufacturing. At a pre-budget meeting, CLE Chairman Rajendra Kumar Jalan also requested import duty exemptions on wet blue, crust, and finished leather to enhance competitiveness.
EU slaps fresh curbs on Russia gas shipments
The new restrictions on gas aim to reduce Russia's revenues from liquefied natural gas (LNG) exports by banning trans-shipments off EU ports and a clause allowing Sweden and Finland to cancel some LNG contracts. The measures stop short of an EU ban on LNG imports, which have risen since the start of the war.
Netanyahu again claims the US is withholding arms shipments, days after Washington denies it
Israeli PM Netanyahu claimed a 'dramatic drop' in U.S. weapons for Gaza war, escalating tensions with the Biden administration.
India's May outbound shipments at 3-month high; trade gap at 7-month record
Terming May as an “excellent” month for exports, commerce secretary Sunil Barthwal said that the situation was looking more optimistic for trade this year, with even sectors such as textiles recording healthy growth after months of sluggishness.
PV exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70 pc of incremental shipments
Passenger vehicle exports from India increased by 2.68 lakh units in the last four fiscal years, with Maruti Suzuki India contributing to nearly 70% of the growth.
Smartwatch companies turn to premium buyers looking for upgrade
Leading smartwatch brands like Noise, Boult, and Boat are targeting repeat buyers with premium hardware to increase average selling prices and improve profitability amid declining shipments and intense competition. They are using their own processors, high-end materials, and aesthetic enhancements, while aggressively expanding into offline retail channels. This shift follows a 7.3% drop in Q1 2024 shipments and a fall in ASP to $20.65. The focus is now on offering premium products with better features to attract discerning consumers.
India smartwatch shipments stagnates in Jan-Mar quarter, Apple Watch grows 3 times
Smartwatch shipments in the Indian market stagnated for the first time in the January-March quarter, with top players Fire Boltt, Noise, and Boat experiencing declines in market share. Despite a 15 per cent YoY dip in shipments, Fire Boltt maintained leadership with 28 per cent market share, while Noise remained at 24 per cent and Boat dropped to 15 per cent. Apple Watch shipments grew significantly in the premium segment, with overall market growth expected to decline in 2024.
Hapag-Lloyd CEO says demand up significantly since May
With some 280 ships, Hapag-Lloyd is the world's fifth-largest shipping company, and connections to North America have traditionally been an important business area for the group.
Japan's Toyota hit by testing scandal; automaker apologises
The transport ministry told the companies to stop delivering certain models within Japan after they reported failures to follow standardised steps to certify vehicles for shipment.
Smart TV shipments fall 14% y-o-y in India; Samsung takes the lead
Samsung overtook Xiaomi for the first time in the March quarter to become the leading player in the smart TV segment, followed by LG and Xiaomi, Counterpoint noted. The shipments of Chinese brands like OnePlus, Haier, and Realme fell by 30% year-on-year.
Ecommerce fails to click for firms in Q4 as sales dip across segments
Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.
Oil shipments at risk from rising sea levels, think tank warns
The China Water Risk (CWR) think tank warned of adverse impacts of rising sea levels on crude oil shipments in a report. The report says that 12 out of the top 15 tanker terminals were expected to be impacted by one metre of sea level rise, many being Asian nations.
India's spice export may fall 40 pc if EtO contamination issue not resolved quickly: FISS
The Federation of Indian Spice Stakeholders (FISS) on Friday said India's spice export may decline nearly 40 per cent in FY25 if the issue of ethylene oxide or EtO contamination in spices meant for exports is not addressed at the earliest. The statement came against the backdrop of Hong Kong and Singapore banning the sale of popular brands MDH and Everest after detecting carcinogenic chemical ethylene oxide in their products, leading to a mandatory recall from shelves.
US House votes to force weapons shipments to Israel, rebuking Biden
The Republican-led U.S. House passed a bill to force President Biden to send weapons to Israel amid the conflict with Hamas. The bill, not expected to become law, underscores the divide over Israel policy. Netanyahu's government aims to combat militants as civilian casualties rise in Gaza. Speaker Johnson and Leader Jeffries criticized the political motives behind the bill.
India's diesel shipments to Europe slip 20% as US, Gulf supplies rise
India's diesel exports to Europe dropped to 210,000 bpd in April due to US and Gulf competition. Vortexa tracked weakened margins. Asian exports grew. Ukrainian conflict spurred Russian diesel replacement.
Before global scrutiny, Indian spice maker MDH faced many US rejections
Hong Kong suspended sales last month of three spice blends made by MDH and one by another Indian company, Everest, for apparently containing high levels of a cancer-causing pesticide. Ethylene oxide is unfit for human consumption and a cancer risk with long exposure. India is the world's biggest spice producer and is also the largest consumer and exporter of spices.
Govt to give focused attention to promote India's textiles exports: Textiles secretary
The cumulative exports of textiles and apparel from India during April 2023-March 2024 registered a de-growth of 3.24 per cent at USD 34.4 billion, as compared to USD 35.5 billion in April 2022-March 2023.
US halts bomb shipment to Israel over Rafah concerns
The United States paused a shipment of bombs to Israel due to fears of an invasion in the southern Gaza city of Rafah. This decision, the first such move in the conflict, followed concerns that Israel was not addressing US worries about a potential major ground operation. President Joe Biden's administration had warned Israel in April that US policy on Gaza would depend on its treatment of civilians. The US is particularly concerned about heavy bombs in urban areas. Ceasefire talks involving Israel, Hamas, the US, Qatar, and Egypt have resumed.
Facing delays, exporters seek priority shipment for MSMEs
Indian exporters seek priority shipment for MSMEs at Delhi Airport due to delays caused by Bangladesh transhipment, leading to quadrupled air freight costs. Requests made to suspend transshipment facility for Bangladesh cargo.
India's services exports grow 11.4% in 2023: UNCTAD report
Despite global economic uncertainties, India's services exports surged by 11.4% to $345 billion in 2023, outpacing China, whose shipments from the sector shrank by 10.1% to $381 billion, as per a UNCTAD report. Key sectors driving India's growth include travel, transport, medical, and hospitality services. The world's services exports, exceeding $7.9 trillion in 2023 with an 8.9% annual increase in current dollar value terms, were led by developing economies like India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia. However, India's services imports dipped marginally by 0.4% to $248 billion last year.
Russia says there is no problem with payment for its oil shipments to India
Foreign Ministry spokeswoman Maria Zakharova assured that Russian oil shipments to India are progressing smoothly without any payment issues.
India allows additional 10,000 tonne of onion exports to UAE
India has authorized an extra 10,000 tonnes of onion exports to the UAE through the National Cooperative Exports Ltd (NCEL), as stated in a notification by the Directorate General of Foreign Trade (DGFT). The government had previously allowed shipments of 14,400 tonnes to the emirates while extending the ban on onion exports until further notice, originally imposed from December 8, 2023, until March 31, 2024.
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