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Category: Ports and Shipping

  • Gwadar Port starts exports operation: Razak Dawood

    Gwadar Port starts exports operation: Razak Dawood

    KARACHI: Gwadar Port has become operational for exports as a vessel loaded with three containers of seafood left for Far Eastern ports, said adviser to prime minister.

    Abdul Razak Dawood, in his tweet on Saturday made this announcement about the exports through Gwadar Port.

    “Gawadar becomes operational for Exports! Seafood export, in reefer containers, using WeBOC system, started on 19 Nov 2019 through COSCO’s KGS service.”

    “The vessel loaded 3 containers of fish for Far Eastern ports.”

    The adviser said that average value of cargo was $50,000/container.

    This would reduce time taken for trading across borders and also reduce port congestion at Karachi.

    Gwadar is Pakistan’s largest infrastructural project since independence.

    After the completion of the first phase of Gwadar port, billions of dollars have been invested in Gwadar and in the next one or two years the investment can cross the figure of trillions.

    China is a major investor in Gwadar, and has spent $248 million in the first phase of Gwadar port, according to official website of Gwadar Port Authority.

  • Gwadar Port ready for Afghan transit trade handling

    Gwadar Port ready for Afghan transit trade handling

    ISLAMABAD: The ministry of commerce has said that Gwadar Port is ready for bulk cargo handling to and from Afghanistan.

    In a notification issued October 15, 2019, the ministry said that the bulk cargoes imported at Gwadar Port for onward transit to Afghanistan will be transported in containers after stuffing/loading the same into containers of international specifications.

    The ministry has informed about the decision to Pakistan Ship Agents Association, Pakistan International Freight Forwarders Association, National Logistic Cell, All Pakistan Shipping Association.

  • Prime minister welcomes $240 million investment by Hutchison Port Holdings

    Prime minister welcomes $240 million investment by Hutchison Port Holdings

    ISLAMABAD: Prime Minister Imran Khan has welcomed fresh investment of $240 million by Hutchison Port Holdings and commitment of the company to the Pakistan’s economic prosperity.

    The prime minister praised the company at a meeting with a delegation of Hutchison Port Holdings led by their Group Managing Director Mr. Eric Ip called on Prime Minister Imran Khan on Tuesday.

    The Prime Minister reiterated the commitment and focus of the Government to facilitate investment and ease-of-doing-business that would ultimately result in economic growth and employment generation.

    Minister for Maritime Affairs Syed Ali Haider Zaidi, Advisor to PM on Commerce Abdul Razzaq Dawood, Special Assistant to PM Syed Zulfiqar Abbas Bukhari, Ambassador at Large for Foreign Investment Ali Jehangir Siddiqui, Chairman Board of Investment Zubair Haider Gilani and senior officials were present during the meeting.

    The delegation from Hutchison Ports also included Mr. Andy Tsoi, Managing Director Middle East & Africa, Mr. Eric Ng, Business Director Middle East & Africa and the leadership of their Pakistan management team.

    Group Managing Director Mr. Eric Ip apprised the Prime Minister of Hutchison Port Holdings’ fresh investment into Pakistan approximating $240 million that will make available a significant amount of new container terminal capacity at the Karachi Port, and increase Hutchison Ports’ total investment in Pakistan to $1 billion.

    The Prime Minister was informed that this investment will also grow Hutchison employees to 3,000 people. The Prime Minister was also briefed about the development of Hutchison Port Holdings, its parent company CK Hutchison Holdings, and the group’s commitment to play a pivotal role in facilitating the economic growth of Pakistan, as well as supporting the development of Karachi Port into a major hub for trade in Asia.

    Hutchison Port Holdings is one of the world’s largest port companies, with over 30,000 employees, operating 52 ports and terminals in 27 countries spanning Asia, the Middle East, Africa, Europe, the Americas and Australia. The company is headquartered in Hong Kong.
    Ambassador Ali Jehangir Siddiqui stated that as a result of a fairly priced currency, unit volumes of exports were increasing and there was a great need for additional container terminal capacity. As a result, this investment would support our export competitiveness and also result in greater revenue for both the federal exchequer and the Karachi Port Trust

  • Ban on trade with India not to apply shipment of documents

    Ban on trade with India not to apply shipment of documents

    ISLAMABAD: The ministry of commerce has said that ban on trade with India will not apply on the shipment of documents related to personal or ministries.

    The ministry issued a clarification in this regard through an office memorandum dated October 03, 2019, stated that the bilateral trade with India was suspended through SROs 927 and 928 issued on August 09, 2019.

    “However, it is clarified that the suspension of trade with India will not apply to the shipment of documents e.g. personal and business documents, documents of government ministries, diplomatic mission, banks and greeting cards, etc.”

  • 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.

    (more…)
  • 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.

    (more…)
  • 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.