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Exporters Take Unusual Steps to Ease Shipping Container Shortage – gCaptain

By Ann Koh and Rajesh Kumar Singh (Bloomberg) — Some of the world’s biggest exporters in Asia are intervening to alleviate a shipping container shortage that jeopardizes their overseas trading. Government-owned Indian Railways has moved empty boxes to inland depots like Delhi from seaports for free. South Korea has deployed an extra nine vessels on the Trans-Pacific route to help local manufacturers while China’s state-owned shipyard, Cosco Shipping Heavy Industry, has converted at least one freshly built paper-and-pulp carrier to transport the containers. “The state has a far bigger role within shipping in Asia, with equity stakes in numerous shipping lines, shipyards and terminals,” said Simon Heaney, senior manager of container research at Drewry Shipping Consultants Ltd. “That influence is much less prevalent elsewhere in the world.”

Top headlines: Wipro's new CEO for Europe, BJP MP sworn in as U'khand CM

New CEO Pierre Bruno to lead Wipro's business in six regions across Europe Information Technology major Wipro on Wednesday announced the appointment of Pierre Bruno as chief executive officer for its Europe operations. The company expects Bruno to lead Wipro’s business in six distinct regions across Europe and claims that it is a bold indication of the firm's continued investment and focus on the European market, building on its momentum across the region in recent years. Revenue deficit grant of Rs 6,194 cr released to 14 states: Govt The union government on Wednesday released the 12th and final monthly instalment of revenue deficit grant of Rs 6,194.09 crore to the states. With the release of this installment, a total amount of Rs 74,340 crore has been released to eligible states as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year, the ministry of finance said in a statement.

Exporters take unusual steps to ease container shortage to ease trading

India, China, S.Korea are taking unusual steps to tackle their container shortages

Exporters Take Unusual Steps to Ease Container Shortage

Major Exporters Take Unusual Steps to Ease Container Shortage

Modec awards Africa floater conversion deal to Chinese yard

VLCC Astipalaia will be converted to an FPSO for Woodside Petroleum's Sangomar project offshore Senegal

SPDB Financial Leasing orders six bulkers at Cosco shipyard

All the vessels will be built at a subsidiary shipyard of Cosco Shipping Heavy Industry. SPDB Financial Leasing, an arm of Shanghai Pudong Development Bank, said the deal is expected to greatly support the development of its ship leasing business. In October this year, SPDB Financial Leasing booked four 61,000 dwt bulk carriers with Cosco Shipping Heavy Industry, with the vessels scheduled for deliveries starting 2021. Copyright © 2021. All rights reserved.  Seatrade, a trading name of Informa Markets (UK) Limited.

Cosco delivers floater destined for Eni's Amoca shallow-water project off Mexico