Mr Atit Mahajan, Managing Director of CMA CGM Agencies India, graced the occasion as Chief Guest.

KOLKATA : The 85th AGM of Calcutta Freight Brokers Association held on July 28, 2023 at The Royal Calcutta Golf Club, Kolkata. 

Mr. Atit Mahajan, Managing Director of CMA CGM Agencies India, graced the occasion as Chief Guest. 

Welcoming the trade fraternity and distinguished representatives from shipping companies as well as the members of the Association, Mr Bharat Jain, Chairman, CFBA said, “The collective strength and commitment towards the growth and success of the container shipping industry in Kolkata signifies the continued support and active participation from the trade fraternity spread all over. CFBA always have been instrumental in making the association a driving force within the industry, forged a path of collaboration, innovation, and progress. 

He briefed the achievements made by Kolkata and Haldia Ports .. “In its 153 years history, Syama Prasad Mookerjee Port, which consists of Kolkata Dock System and Haldia Dock Complex, handled approx. 66 million tons of Cargo in 22-23, recording an all-time high throughput which is a 12.87% increase from the previous year.” “In terms of Container traffic .. at KDS + HDC … approx. 6 lakhs 75 thousand TEUs were handled in 22-23. (KDS handled 567606 TEUs). The port registered strong financials by posting a net surplus of Rs. 304 crores, an improvement of 150% compared to the previous year,” he added.

He expressed concern about the recent guidelines introduced by International Maritime Organization (IMO) that will lead to the scrapping of a significant number of container ships in 2023.

Mr Atit Mahajan, Managing Director of CMA CGM Agencies India, chief guest of the occasion, highlighted the most happening issues in the shipping trade since last couple of years. The freight rate fluctuations on shipping routes along with the suffering crisis of capacity utilization highlighted mostly. 

After the pandemic, the world's leading shipping companies have embarked on a groundbreaking spree of investments, pouring their substantial profits into state-of-the-art green vessels. The worldwide order pipeline has soared to a staggering huge funding, marking a historical high in the industry's growth trajectory. He mentioned that CMA CGM, among other key players, are at the forefront of this shipping revolution, reshaping the maritime landscape with their unprecedented investments. The infusion of funds promises to usher in a new era of efficiency and innovation in the shipping sector as well as environment-friendly initiatives.

Freight rates are extremely hovering close to falling below breakeven levels, raising alarms about the financial health of shipping companies. The lines are also responsible and concerned about the green revolution and eager to include energy efficient ships. 

He said, “CMA CGM were the first pioneers to start with the energy-saving ships (LNG), and now we are going into buying the new methanol and biofuel ships. So, we are committed to a net zero by 2050 will be EE Exact compliant. We have to deploy a huge amount of our profits back into buying this ships, also have created another fund globally to take care of, so it is the fund is called the Fund for Energy, which will actually take care of accelerating our energy transition. This is the sourcing the new biofuels, which is involving and getting involved into the production of these biofuels and even the research and development of these biofuels.” He proclaimed that, “… just I would like to say is, we together, if we want to live a very good planet for our children in the future, then we together have to be very responsible on how we run this trip.” 

He affirmed that “…we should come together, collaborate and try to find, try to find ways of utilizing this industry more … the shippers and the whole ecosystem to go business in the most efficient way.”

Mr. Ajay Chhajer, Vice-Chairman, CFBA, presented vote of thanks.