Budget Announces Implementation Of Nirvik Scheme For Higher Insurance Cover For Exporters

Exporters say new scheme, first announced in September 2019, will reduce premium, costs Exporters have been assured implementation of the new export credit insurance scheme `Nirvik’, offering lower premiums and faster claims settlement, in 2020-21, in the Union Budget announced on Saturday. Under the scheme, first announced by Finance Minister Nirmala Sitharaman in September 2019,…

Ullman: The Tanker Boom Is Now With Us

The long-awaited recovery of the tanker market finally materialized at the end of 2019, across all market segments, according to the CEO of Concordia Maritime, Kim Ullman. Announcing the company’s quarterly results, Ullman said that 2019 started with a weak market which took a further tumble as the year progressed before making a sharp upturn…

Cruse Liners Dropping Shanghai Sailings Over Coronavirus

World’s major cruise liner companies have pulled their planned sailings from Shanghai amid efforts to mitigate the potential spread of the coronavirus. “Due to urgent guidelines from the Chinese government to combat the spread of the coronavirus, MSC Cruises is required to cancel the upcoming cruise with MSC Splendida on January 28. Guests booked on…

xChange: Empty Containers Piling Up In Shanghai

Empty containers are piling up in Shanghai, the world’s biggest port, according to the data from xChange, a Germany-based startup focusing on the repositioning of containers. “The Container Availability Index shows relatively high values for 40 High Cube containers (0.58), 40 Dry Cargo containers (0.46) and 20 Dry Cargo containers (0.62),” xChange said commenting on the impact of…