News
on Shippings
Updated
customs tariff system introduced A revised 2002 version of
the harmonized system nomenclature (HSN) in customs tariff has
come into force from January 1, 2002. The new nomenclature, which
is an internationally accepted one for the commodity classification,
is updated periodically. The 2002 HSN version has been incorporated
in the third schedule of the Finance Act 2001, under a special
notification.
DCI
signs up MoU with a Chinese firm for Dubai-based reclamation project
The Dredging Corporation of India (DCI) along with China Rail
& Transport Company is likely to take up dredging and reclamation
work in the sea near Dubai. The order is totally worth about 70
million cubic metres, of which, DCI will have a share of 20 million
cubic metres, valued at about Rs. 150 crores. The two firms have
already signed up a memorandum of understanding for undertaking
the project and the deal will be finalized after the details are
worked out.
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News
on Logistics
Inland
Waterways used to transport petroleum products MV Naharkatia,
a self-propelled barge of the Central Inland Water Transport Corporation
(CIWTC) loaded with petroleum products has been operated between
Silghat in Assam to Budge Budge in West Bengal on the inland waterway.
This is for the first time that inland waterway is used for transporting
petroleum products in the country. The vessel during its voyage
came through Bangladesh’s inland waters, under a bilateral agreement
between India and Bangladesh.
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News
on Shipyards
Cochin
Shipyard workers to resist privatization move Anticipating
a move by the Union Shipping Ministry to privatize the Cochin
Shipyard Ltd. (CSL), the workers have formed an association called
the Joint Action Committee to protest against privatization. The
workers’ action committee has argued that recommendations of the
K.P. Geethakrishnan committee on expenditure reforms, for privatizing
public sector yards was not scientific, as there was no justification
for selling a profit-making shipyard like CSL. The Cochin Shipyard
has reportedly made a net profit of Rs.38.49 crore for the year
2000-01.
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