The Shipping Ministry is considering a
proposal to expand the scope of the key document used in the shipping industry,
the Bill of Lading to bring Finance Sector also on board, Shipping Secretary
Sanjeev Ranjan said
Addressing an E conference on Indian Marine
technology organized by the Chennai chapter of the Confederation of Indian
Industry, he said the top priority of the government is to bring down the
logistics cost to the globally accepted levels. He said that is possible only
all the bottlenecks to the EXIM trade are removed.
The expansion of the scope of bill of
lading to include finance sector would help security of payment to cargo not
routed through line of credit along with bank guarantee, the third party cargo.
bottlenecks for Exim Trade, systems in place in Port Community System
On the issue of removing the bottlenecks
for the EXIM Trade he said the systems are in place from the government side in
the Port Community System. It has to get integrated with the requirements of
the industry so that the shippers both exporters and importers get seamless
service. Its implementation would reduce the turn round time of vessels in the
port of call by improving the efficiency in cargo handling. We would also lay
emphasis on Multi Modal Cargo handling for reducing the logistics cost.
Logistics cost to
be brought down to 6% of GDP govt wants
The government wants the logistics costs
in the country to be brought down to six or seven per cent of the gross
As an industry friendly measure, the
government had announced that procurement by governmental agencies including
the public sector undertakings of goods less than Rs 200 crores should done
through indigenous sector. The industries involved in shipping should draw a
road map to avail this concession.
All the stakeholders in the shipping
industry should work hand in hand with the various initiatives of the
government to enhance cargo for Indian flag vessels and build ship repair
Ship building and bringing about
efficiency in cargo handling operations at port and reducing the logistics
costs are the priorities of the government he said.