Connect with:
Tuesday / November 19. 2024

logo
mobile-logo
HomePosts Tagged "Southeast Asia"
Logistics, Supply Chain, Sustainability, Transportation

Thai shipping line Regional Container Lines (RCL) has decided to enhance its service and connect major ports in Southeast Asia, India and Gulf countries

India’s maritime connectivity is set to receive a significant boost, as the Thai shipping line Regional Container Lines (RCL) has decided to enhance its service and connect major ports in Southeast Asia, India, and Gulf countries. The RCL route will now include Saudi Arabia’s King Abdulaziz Port, starting from Cai Mep Port in Vietnam with stops at Laem Chabang in Thailand, Port Klang in Malaysia, Nhava Sheva in Mumbai, Jebel Ali near Dubai, and Sohar in Oman, in addition to the Saudi port.

The service will be extended from the current 35-day period to a 42-day period.

Although RCL currently deploys one vessel in this cargo service, it is possible that more vessels could be added to this route in the future, according to an analyst.

The new shipping route will greatly benefit India as it seeks to strengthen its ties with Southeast Asian and Gulf nations. This route will connect India with both regions and help boost trade in the post-Covid era.

Towards the end of this year, the Mediterranean Shipping Company (MSC) plans to launch a liner service that will connect Mundra and Nhava Sheva in India with Saudi Arabia’s Jeddah Islamic Port. This move is likely to result in a significant increase in economic transactions between India and the Gulf nations.

Following the signing of the Comprehensive Economic Partnership Agreement between India and the UAE, New Delhi is now eager to proceed with the proposed free trade agreement with the Gulf Cooperation Council (GCC) countries as soon as possible. Additionally, Saudi Arabia and the UAE are set to become members of the BRICS bloc next year. India is already working to enhance trade with these nations using its own currency, the rupee.

India has maritime borders with several countries, including Thailand, Malaysia, Myanmar, Bangladesh, Sri Lanka, and Indonesia. As a result, it is important for New Delhi to improve its maritime transport capabilities. Increasing cargo handling capacity by 300 per cent at ports by 2047 is a goal for India, and connecting with important hubs will help achieve this.

Thai shipping line Regional Container Lines (RCL)

Foodgrains, Oilseeds, Supply Chain, Sustainability, Trade, World

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities

The benchmark index of international food commodity prices declined for the 12th consecutive month in March, driven by declines in world quotations for cereals and vegetable oils, the Food and Agriculture Organisation of the United Nations (FAO).

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 126.9 points in March 2023, down 2.1 per cent from the previous month and 20.5 per cent below its peak level of March 2022. A mix of ample supplies, subdued import demand and the extension of the Black Sea Grain Initiative contributed to the drop.

The FAO Cereal Price Index declined 5.6 per cent from February, with international wheat prices falling by 7.1 per cent, pushed down by strong output in Australia, improved European Union crop conditions, high Russian Federation supplies, and ongoing exports from Ukraine from its Black Sea ports. World maize prices fell by 4.6 per cent, partly due to expectations of a record harvest in Brazil. Meanwhile, rice eased by 3.2 per cent amid ongoing or imminent harvests in major exporting countries, including India, Viet Nam and Thailand.

The FAO Vegetable Oil Price Index averaged 3.0 per cent lower than the previous month and 47.7 per cent below its March 2022 level, as ample world supplies and subdued global import demand pushed down soy, rapeseed and sunflower oil quotations. That more than offset higher palm oil prices, which rose due to lower output levels in Southeast Asia due to flooding and temporary export restrictions imposed by Indonesia.

“While prices dropped at the global level, they are still very high and continue to increase in domestic markets, posing additional challenges to food security. This is particularly so in net food-importing developing countries, with the situation aggravated by the depreciation of their currencies against the USA dollar or the Euro and mounting debt burden,” stressed Máximo Torero, FAO Chief Economist.

The FAO Dairy Price Index declined 0.8 per cent in March. Butter prices increased due to solid import demand, while cheese dipped due to slower purchases by most leading importers in Asia and increased availabilities in leading exporters.

By contrast, the FAO Sugar Price Index rose by 1.5 per cent from February to its highest level since October 2016, reflecting concerns over declining production prospects in India, Thailand and China. The positive outlook for the sugarcane crops about to be harvested in Brazil limited the upward pressure on prices, as did the decline in international crude oil prices, which reduced demand for ethanol.

The FAO Meat Price Index rose slightly, by 0.5 per cent. International bovine meat quotations rose, influenced by rising internal prices in the United States of America on expectations of lower supplies moving forward, while pig meat prices rose due to increased demand in Europe ahead of the holidays. Despite avian influenza outbreaks in several large exporting countries, world poultry meat prices fell for the ninth consecutive month on subdued global import demand.

The FAO Food Price Index, which tracks monthly