PSA International And SATS Have Signed A Memorandum Of Understanding (MOU) To Promote Sea-Air Connectivity
The terminal operator PSA International has sealed the deal with the chief ground-handler at Singapore Changi Airport (also known as SATS) regarding a Memorandum Of Understanding (MOU) to boost the sea-air connectivity. This agreement has been designed to provide the logistics service providers and cargo owners with improved connectivity between the Changi Airport and the newly launched Tuas megaport. It is rightly predicted that this partnership between PSA and SATS will go a long way in establishing Singapore’s role as a worldwide, transshipment hub for both air and sea cargo. This, in turn, will ensure that there is more scope for innovative, business models and reinventing the supply chain.
The collaboration will also promote the variety of cross-industry initiatives (for example, electronics, perishables, and e-commerce spaces) as previously linked by the two organizations. Plus, SATS and PSA have plans to bring together their respective systems to aid the construction of data analytics abilities and also, boost the regulatory compliance. As an added bonus, the multimodal users can now expect the better visibility of shipment along with stronger protection of cargo integrity.
APL Welcomes Its New Reefer Tracking System
The well-established, shipping organization as owned by the world-famous carrier CMA CGM, APL, has recently published a new video to bring its new SMARTemp solutions into the limelight. This reefer tracking system has been newly introduced for tracking the refrigerated cargo through the real-time information regarding the current condition of the reefer containers.
This will prove to extremely beneficial to the customers because it will eventually cut down a huge amount of expenses on the installation of different, tracking devices. This smart, end-to-end solution comes handy in supervising the transfer of refrigerated cargo from its starting point to its final destination while ensuring the unfaltering coverage of the container’s movement without causing any disruption in the procedure.
For this reason, a communication module has been created to decode the necessary data and to transmit it to a satellite through the integrity of the signal. Now, it has become easier to monitor the significant variables like the humidity and temperature of the container, while keeping a check on the atmospheric conditions of the unit.
India’s Economy May Witness A Steady Rise In Steel Imports
As per the predictions put forward by the Joint Plant Committee in our country, India’s economy will face a growth in the field of steel imports as the acquired data has indicated. Of recent, there has been some doubts and queries regarding the fact that the consumption growth of finished steel has overtaken the production. Undoubtedly, India has established its position as one of the major steel economies across the globe because of the fact that the rate of consumption is definitely surpassing the production of the material.
The Steel Ministry has expressed its concerns regarding the inflow of cheap imports since our country is likely to be an easy target. The Indian Steel Association is of the opinion that the domestic consumption might be sluggish but will manage to stay above 7 per cent for sure.
Cochin Shipyard Has Signed A Contract For Building 8 Shallow Water Crafts
The Cochin Shipyard has a great reputation in India’s shipping scenario and now, the shipyard has agreed to supervise the construction and supply of 8 Anti-Submarine Warfare Shallow Water Crafts, which are exclusively meant for the Indian Navy. It has been decided that the first vessel will be delivered within a tentative period of 42 months from the contract signing date and the delivery schedule in future will ensure two vessels, every year. The project is expected to be completely finished within 84 months from the signing date.
Samudera Shipping Line Predicted A Difficult Year Ahead For Container Shipping
According to Samudera Shipping Line, the year ahead might prove to be somewhat rocky for the global container shipping sector since the organization itself has experienced a net loss in the first quarter of 2019. Therefore, there are strong chances of the fact that the container shipping industry might be witnessing headwinds in the coming months, which might feature cost pressures and increasing bunker costs. The regional economic growth has also become relatively slower than the previous year and will certainly create a difficult environment for the container shipping lines. Apart from that, the heightened volatility of freight rates is likely to cause mayhem in the shipping sector.