Close to 500 exhibitors are expected at EURONAVAL 2024

EURONAVAL 2024 will gather about 500 exhibitors from over 30 countries at the Paris-Nord Villepinte exhibition Centre from 4th to 7th November. Focusing on innovation and international cooperation, this key naval industry event will showcase developments in maritime security, digitization, AI, and naval equipment amidst growing geopolitical tensions.

The policy would seek to optimise use of waterfront and associated land for industrial purposes. It is expected to bring relief to companies who have developed projects reliant on captive berths since the existing policy does not provide for an extension.

DHL Express will raise parcel delivery prices in India by an average of 6.9 per cent starting January 1, 2025. The company adjusts prices annually based on inflation, currency dynamics, and regulatory costs. DHL aims to maintain reliable services despite geopolitical and supply chain challenges, according to senior vice-president R S Subramanian.

Allcargo Gati has announced a 10.2% general price increase for its express distribution services starting January 1, 2025. This is the first price revision since Allcargo’s acquisition of Gati in 2019. The increase aims to align pricing with operational investments and maintain service quality amid rising fuel costs and inflationary pressures.

India’s central government-controlled ports will nearly double their container handling capacity to 40 million TEUs in the next five years, creating two million jobs. Shipbuilding and repair hubs will be established in several states, supported by a new Greenfield Shipyard Building scheme. Hydrogen manufacturing hubs are also planned, attracting significant investment.

The Indian government is planning to boost yacht tourism and personal boating by developing an ecosystem for it, according to ports, shipping and waterways minister Sarbananda Sonowal. Despite having a 7,500-kilometre coastline, India lacks international-standard marinas. The initiative aims to create employment opportunities and take advantage of the country’s vast coastline.

The Inland Waterways Authority of India successfully transported a large Over Dimensional Cargo to Numaligarh Refinery via the Indo Bangladesh Protocol Route. This marks a significant development in Assam’s logistics sector. Numaligarh Refinery Limited is expanding its capacity and has made substantial progress on its mega expansion project, expected to be completed by December 2025.

The government has announced measures to address shipping sector issues affecting exporters and importers. These include reducing port charges, purchasing additional container vessels, and expediting customs clearances. The steps aim to lower shipping costs, improve container availability, and reduce port congestion.

India will reduce port charges and purchase five second-hand container vessels to boost exports and address shipping issues. These measures aim to lower shipping costs, improve container availability, expedite export consignments, and reduce port congestion. Commerce Minister Piyush Goyal announced these steps following a meeting with various stakeholders.

Freight rates at Indian ports have surged nearly 70% year-on-year in August, driven by global shipping disruptions and sustained demand. This increase, after a two-year gap, is likely to impact the cost burden of Indian companies with international exposure. Rates have fluctuated since 2020 due to various geopolitical issues and supply chain disruptions.