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Category: Ports and Shipping

  • New shipping policy to be in vogue soon: Ali Zaidi

    New shipping policy to be in vogue soon: Ali Zaidi

    KARACHI: New shipping policy will be in vogue very soon and it will bring huge investment in shipping sector, Syed Ali Haider Zaidi, Federal Minister for Maritime Affairs said on Monday.

    The minister informed the fifth meeting of the Standing Committee on Maritime Affairs, which was held at KPT Headquarters under the Chairmanship of Mir Amer Ail Khan Magsi, Member National Assembly.

    Ali Haider Zaidi told the standing committee on maritime affairs about the new shipping policy which will be in vogue very soon.

    “It is huge achievement of the present government. It will be beneficial for all the organization such as KPT, PQA, PNSC etc. and besides this investment in shipping sector will be greater as compared to the past,” he said.

    He informed that the process of digitization was being carried in the ministry and its departments as well as organizations. Around ten new terminals will be build to facilitate the shipping companies and shipping vessels.

    The committee also asked KPT to strictly observe quota requirements for the jobs. The provincial government in conjunction with KPT should resolve the issues of traffic congestion and encroachment.

    The meeting was attended by Syed Ali Haider Zaidi Federal Minister for Maritime Affairs and MNAs, Rana Muhammad Qasim Noon, Muhammad Yaqoob Shaikh, Faheem Khan, Saif ur Rehman, Abdul Shakoor Shad, Mir Khan Muhamamd Jamali, Ms. Nuzhat Pathan, Muhammad Aslam Bhootani, Usman Qadri, Ms. Shahnaz Naseer Baloch, Qasier Ahmed Sheikh, Jam Abdul Karim Bijar, Abdul Qadir Patel, Kamal Uddin, Kesoo Mal Kheeal Das, Chairman KPT, DG Ports and Shipping and Senior Officers of KPT.

  • KCAA urges shipping companies to observe normal working day on Saturday

    KCAA urges shipping companies to observe normal working day on Saturday

    KARACHI: Karachi Customs Agents Association (KCAA) on Thursday urged the shipping companies to remain open on Saturday August 17 in order to facilitate trade after week-long holidays.

    Arshad Khurshid, General Secretary, KCAA said that after week-long holidays due to Eid and weekly holidays since last Saturday many vessels had been arrived. Besides large number of containers has been accumulated at the ports, he added.

    “Most of the companies observe holiday on Saturday or some of those observe half-day working,” he said, adding that it is quite difficult for traders and customs agents to get deliver order in very short time working on Friday.

    He urged minister ports and shipping to issue directives that all shipping companies should remain open and observe normal working day on Saturday to facilitate the trade and to dispose off the workload accumulated during the holidays.

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  • Weather alert of wind-thunderstorm issued for ports

    Weather alert of wind-thunderstorm issued for ports

    A significant weather alert has been issued for ports and fishermen as the Joint Maritime Information Coordination Center (JMICC) anticipates severe weather conditions on July 29 and 30, 2019. Authorities have been urged to implement precautionary measures to mitigate potential impacts.

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  • ECC approves tax incentives to shipping industry for next 10 years

    ECC approves tax incentives to shipping industry for next 10 years

    ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) on Wednesday extended tax incentives to shipping industry for next 10 years.

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  • KPT issues Cyclone Vayu safety warning

    KPT issues Cyclone Vayu safety warning

    KARACHI: Karachi Port Trust (KPT) on Thursday issued safety warning for ships in the wake of depression created due to ‘Cyclone Vayu’.

    In an alert the KPT informed that the deep depression had developed 1500 nautical mile south of Karachi and more likely would be upgraded to cyclone within next 24 hours.

    “It is expected this will fall on land likely between Kandla (India) and Karachi on June 15 and June 16 with strong winds up to 45 knots and gusting up to 88 knots.”

    It is strongly suggested that all ships to double up the mooring arrangement for safety of ships and port structure.

  • Pakistan needs to ensure direct import, exports: PSAA

    Pakistan needs to ensure direct import, exports: PSAA

    KARACHI: Pakistan exports need to maximize selling on C&F basis and imports to maximize buying on FOB basis in order to increase revenue earning along with reducing cost of doing business.

    In a letter to Adviser Commerce, Textile, Industry, production and Investment, Abdul Razzak Dawood, Chairman PSAA said that this will ensure direct exports to end users and imports direct from producers and will cut out third party intervention.

    One of the steps which is a major hurdle creating extra costs is freight tax, income tax ordinance 2001, section 7, sub-section (1), Para (a) and (b) and urged to revisit and deleted in total.

    This will result in zero tax freight in Pakistan and eradicate time wasting red tapisim.

    While giving example of export cargoes, he said that cargoes like cement clinker, rice etc, in shiploads which were being sold on C&F basis are now mostly sold on FOB basis.

    One of the reasons is freight tax which is applicable as per income tax ordinance 2001.

    Only few shipping agents /ship owners have the connections /papers work to get waiver of freight tax (Maximum freight tax is 8 percent on freight earned).

    Therefore third parties are involved which buys FOB from Pakistan exports, arrange /charter ships, get freight tax waiver and sell to end users or actual buyers on C&F basis.

    Giving example of import cargoes, he said when an imports wants to buy on FOB basis and arrange charter ship himself to save overall C&F cost then even on import cargo 8 percent freight tax on freight is attracted as per income tax ordinance 2001.

    Also State Bank of Pakistan does not permit /delays in opening FOB letters of credit.

    This again opens the door for third party intervention, they step in , receive the C&F letter of credit (thereby avoid freight tax) by FOB from suppliers, arranges /charter ships and sell C&F to Pakistani imports.

    Therefore in actual fact negligible ‘if any’ freight tax is earned but it has negative impact for both importers and exporters of cargoes in shiploads/ chartered vessels.

    As for as containerized cargoes are concerned, most of the shipping lines to get freight tax waivers as per existing bilateral trade agreements between Pakistan and other countries.

    Therefore in actual fact there is no major earning of freight tax.

  • Shipping agents demand forming task force to eliminate under/over invoicing

    Shipping agents demand forming task force to eliminate under/over invoicing

    KARACHI: Shipping agents have demanded the Federal Board of Revenue (FBR) to form taskforce / joint investigation team (JIT) to eliminate the menace of under / over invoicing, mis-declaration and smuggling in Pakistan.

    In a letter to the chairman of FBR Syed Muhammad Shabbar Zaidi, the Pakistan Ship’s Agents Association (PSAA) congratulated the chairman for his appointment as chief of the national tax collecting agency.

    The association said that the menace of smuggling was causing massive losses to the exchequer and also resulting in bad name of the country.

    “It is everybody’s knowledge that none of these nefarious activities can be carried out without facilitators/go-betweens,” the association said.

    “We believe that some of these facilitator types have FIRs already registered against them they should be fully investigated / dormant files should be revived.”

    “FBR should appoint a taskforce / JIT to address this issue on a war footing and all these culprits should be vigorously be pursued, caught and prosecuted.”

    The association said that customs intelligence, FIA, all border authorities, ministry of interior etc should all form special JIT to finish off this menace under the direct monitoring of the Prime Minister of Pakistan.

    The association further said that such types of facilitators were the enemies of the economy of the country. “We have also requested all our members from the maritime sector to keep a special watch for such facilitators and report immediately to concerned authorities.”

  • SRB suspends sales tax registration of M/s. Hellenic Shipping Agencies

    SRB suspends sales tax registration of M/s. Hellenic Shipping Agencies

    KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Hellenic Shipping Agencies (Pvt) Limited for non-payment and non-compliance of return filing for the last eight years.

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  • Around 98pc offshore drilling near Karachi coast completes; nation to get good news in two weeks: Ali Zaidi

    Around 98pc offshore drilling near Karachi coast completes; nation to get good news in two weeks: Ali Zaidi

    KARACHI: The joint venture of foreign and local companies has completed around 98 percent drilling near Karachi coast for the possible discovery of huge reservoirs of oil and gas, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi said on Saturday.

    The joint venture including ExxonMobil, ENI, PPL and OGDC is undertaking offshore drilling near Karachi coast. “The joint venture will drill around 5,500 meters and so far it has reached 5,392 meters,” the minister added.

    “The nation will receive good news regarding discovery in next two weeks,” he added.

    The minister was talking to media at an event to add another oil tanker to the fleet of Pakistan National Shipping Corporation (PNSC).

    He said that Pakistan annually paid around $4.5 billion as freight charges. “The addition of oil tanker to PNSC fleet will save huge foreign exchange reserves for the country,” he added.

    Talking about the hike in prices of petroleum products, he said that when the PTI government took charge the international oil price was at $51 per barrel and it had reached now $70 per barrel.

    Commenting on the ongoing negotiations for IMF loan program, he said that the present government was not willingly entering to IMF program. “We are taking loan to repay the old loans that were taken by PPP and PLM-N governments,” he added.

    He said that reducing tariff for gas and electricity was not solution as such reduction would compel the present government to take more loans as done by the previous governments.

  • Hutchison Ports Pakistan deploys five new hybrid yard cranes

    Hutchison Ports Pakistan deploys five new hybrid yard cranes

    KARACHI: Hutchison Ports Pakistan has announced to deploy five new hybrid yard cranes as the terminal continues with its productivity enhancement program and to provide better customer service.

    It brings the terminal’s total number of hybrid yard cranes to 31, said a statement on Tuesday.

    This new batch of equipment will improve the overall service potential of the terminal and will greatly increase berth productivity as well as landside deliveries.

    “We are constantly in pursuit of improving our industry and everything it touches”, said Captain Syed Rashid Jamil, General Manager and Head of Business Unit, Hutchison Ports Pakistan.

    “The addition of more hybrid cranes will enable us to further enhance the speed of our operations, directly and indirectly benefiting our customers. Moreover, we truly care for the communities around the port area.

    “The deployment of hybrid cranes will significantly help us reduce emissions as well as to protect and conserve air quality in our surrounding areas. We take this as our responsibility and will do everything we can to reduce the impact of our operations.”

    In October 2019, Hutchison Ports Pakistan will receive 11 state-of-the-art electric remote-controlled yard cranes. This induction will make Hutchison Ports Pakistan the only terminal in the region to deploy such equipment.

    Hutchison Ports Pakistan is situated at the estuary of the Keamari Groyne basin, providing the most convenient access to ships entering Karachi.

    The new facility is the closest Pakistan port to the shipping lanes in the Arabian Sea. Its prime location offers the shortest steaming time from the Fairway Buoy, and will bring real benefits to customers, relating to time, cost, reduction in risk of delays, and reduced carbon emissions.

    Hutchison Ports Pakistan is a member of Hutchison Ports, the port and related services division of CK Hutchison Holdings Limited (CK Hutchison).

    Hutchison Ports is the world’s leading port investor, developer and operator with a network of port operations in 51 ports spanning 26 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia.

    Over the years, Hutchison Ports has expanded into other logistics and transportation-related businesses, including cruise ship terminals, airport operations, distribution centres, rail services and ship repair facilities.