The international shipping industry is responsible for the carriage of around 90% of world trade. Website: www.equitymaster.com. The global dropshipping market size was valued at USD 102.2 billion in 2018 and is expected to register a CAGR of 28.8% from 2019 to 2025. All interactions are confidential. Some of the major initiatives taken by the government to promote the ports sector in India are as follows: Following are the achievements of the government in the past four years: Increasing investment and cargo traffic point towards a healthy outlook for the Indian ports sector. Helping You Build Wealth With Honest ResearchSince 1996. Although the number of firms which are active in the Indian shipping industry are fluid, during any given year, there may be as many as 55 shipping companies. Operating costs are set to increase, and hopes will persist that freight rates will do likewise. The impact on the Nigerian economy is two pronged with falling crude prices lowering government revenue from oil and imminent lockdown of some businesses could slow the growth that the country had recorded. “We were sitting ducks and the Germans clearly had us in their sights.“ - Steward’s Mate 2nd Class John Noble Roberts, U.S. Coast Guard Reserve Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Get your queries resolved from an industry expert. Furthermore, benefits such as easy ordering process and returns is attracting consumers toward online shopping platforms. As per Union Budget 2020–21, the total allocation for the Ministry of Shipping stands at Rs 1,800 crore (US$ 257.22 million). Instead, the central bank may implement more unconventional tools to stimulate the economy. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Capacity at non-major ports is expected to reach 968 MMT in 2019 from 750 MMT in 2016. Recent Posts. Also commenting, General Manager, Public Affairs, FAAN, Mrs. Henrietta Yakubu said the authority was on top of the situation as it had escalated containment measures at airports nationwide, adding that all concerned stakeholders; health officers, airlines and other secondary partners were all on red alert on the new development. The Government of India has allowed foreign direct investment (FDI) of up to 100% under the automatic route for projects related to the construction and maintenance of ports and harbors. On the basis of product, the market has been classified into toys, hobby and DIY; furniture and appliances; food and personal care; electronics and media; and fashion. Navis expects that the biggest trends that will characterize the industry over the next year will include increased IT spending, more collaboration and data standardization, trade wars, smart containers, automation productivity gains, and improved carrier capacity management and environmental efficiencies. No Guessing, No Hunches, and No Missed Trends Ever! In FY20, major ports in India handled 704.82 million tonnes (MT) of cargo traffic, implying a CAGR of 2.74% during FY16–FY20. The electronics segment accounted for the largest market share, accounting for over 30.0% in 2018 owing to the growing demand for electronic products. Your email address will not be published. He noted that like many other economies at the time of writing, Nigeria is vulnerable to the spread of the COVID-19 virus in economic and health terms because one of its main trading partners is the epidemic’s epicenter China. Copyright © Equitymaster Agora Research Private Limited. Further checks show that some traders in Nigeria as at yesterday, have started to tinker with the cost owwf such masks. Here's an analysis of the annual report of ABAN OFFSHORE for 2017-18. All rights reserved. Odfjell the Norwegian chemical tanker and ship management company is setting ambitious targets to reduce its environmental footprint. “However, it does seem that this week the world is waking up to the reality of the situation as the containment of coronavirus hasn’t yet materialised and confirmed cases soar in different countries. The observation comes at a time when industries and commerce are starting to slowly get back to work across China. AliDropship; Doba, Inc.; SaleHoo Group Limited; and Oberlo. For instance, in 2017, Shopify Inc., an e-commerce platform, acquired Oberlo, a provider of dropshipping services. Equitymaster may hold shares in the company/ies discussed herein. A trader who sells face masks in Yaba area of Lagos, Chinedu Kambiri confirmed a slight increase in price of the masks. 2019: Shipping Industry Uncertainty to Remain file photo courtesy of Diamantino Rosa. On the ordering side, for example, the number of vessels that a shipyard can build and the time taken to build a vessel plays an important role in determining the growth in tonnage supply. The top areas for increased technology spending include: 2. Experts in the Nigerian maritime sector forecast that Nigeria would be losing about N1 billion daily to the outbreak of Convid-19 (coronavirus) as the level of imports arriving Nigerian ports is gradually dropping while port calls to China are becoming less frequent. “Falling Oil prices would reduce foreign exchange reserves and ultimately complicate the CBN’s efforts to defend the Naira, meaning potentially heightened pressures on inflation and consumption with an eventual impact on growth. Now, owners along with ocean carriers will seek opportunities to increase the cargo intake of their vessels, aiming to increase the flexibility of capacity management. 6. Green said: “Investors have largely been caught off-guard by the serious and far-reaching economic consequence of the coronavirus. The Asia Pacific market accounted for more than 25.0% of the overall revenue in 2018.
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