INCREASE IN TSA RATES MAY HIT INDIA's EXPORTS
Article Abstract:
The Trans-Pacific Stabilisation Agreement (TSA) is increasing the freight rates in the India-United States sector by $750-$1,000 per 40-feet box. This is likely to affect exports to US. The exports of iron and steel castings, garments, tea and jute are likely to be hit. The new rates come into effect from May 1999 when the export season starts. Indian exporters have started sending cargo by Shipping Corporation of India and non-TSA lines like Zim Shipping Lines and Chung Yuang Lines. SCI touches the west coast of US only. Indian exporters are sending their cargo through Singapore and Colombo to the east coast of US. TSA had recently raised its freight charges in January 1999. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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GESCO DEMERGER NOT TO AFFECT HOLDINGS
Article Abstract:
The decision of The Great Eastern Shipping Company Ltd to demerge a few business activities of its property division will not affect the company's shareholding pattern. The Sheths hold about 10 percent in the company's Rs287.6 crore equity capital, the International Finance Corporation of the US holds 7 percent while domestic institutions and foreign institutional investors hold about 15 percent each. A new company will be set up for the demerged business activities and will have a networth of Rs140- 150 crore. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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