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India's steel imports have seen a significant decline following the imposition of a 12% safeguard duty on metal shipments, particularly from China and Vietnam. Internal data from the Ministry of Steel reveals that imports fell by 40% year-on-year in May to 0.43 million tonnes, down from 0.7 million tonnes in the same month last year, and nearly 20% from April's 0.52 million tonnes. Notably, non-alloyed steel imports dropped by 15% sequentially, while alloy and stainless steel imports decreased by 24%. Despite a rise in imports from South Korea, shipments from China plummeted by 27-30%. While exports increased slightly to 0.4 million tonnes in May, they remain 10% lower year-on-year. Domestic steel consumption rose by 7% to 25.1 million tonnes, yet steel prices have remained stable amid bearish market sentiments and the approaching monsoon season. 
Published: Jun 10 2025, 9 pmeznews.inAn Air India aircraft, operating flight AI-171 from Ahmedabad to Gatwick, crashed shortly after take-off from Sardar Vallabhbhai Patel International Airport on Thursday, June 12, 2025. The Boeing 787, with 242 people on board, including two pilots and ten cabin crew, issued a MAYDAY call to air traffic control shortly after departing at 1:39 PM from runway 23, but subsequently lost communication. The aircraft fell outside the airport perimeter, leading to the activation of emergency services. Plumes of black smoke were visible in the vicinity, prompting the airport to temporarily suspend all flight operations. Air India confirmed the incident and stated that further updates would be provided via their official channels. A senior Gujarat government minister indicated that emergency response teams were on-site to manage the situation.
Published: Jun 12 2025, 2 pmeznews.inAn Air India passenger aircraft, Flight AI-171, crashed shortly after takeoff from Sardar Vallabhbhai Patel International Airport in Ahmedabad on June 12, 2025, with 242 people on board. The incident occurred in the Meghaninagar area, leading to the temporary suspension of all flight operations at the airport. Civil Aviation Minister Rammohan Naidu, who was attending an event in Vijayawada, has rushed to Ahmedabad to oversee the response efforts, coordinating with senior officials from the Directorate General of Civil Aviation (DGCA), Airports Authority of India (AAI), and local authorities. Rescue and medical teams are currently on-site, prioritizing passenger safety and emergency response. Authorities are advising passengers to check with their airlines for updates as the situation develops. Further information will be provided by the Ministry of Civil Aviation as it becomes available.
Published: Jun 12 2025, 2 pmeznews.inLiquefied Natural Gas (LNG) is set to become the primary fuel for India's long-haul heavy-duty trucking sector post-2030, with plans to convert one-third of the diesel fleet to LNG. According to a report by the Petroleum and Natural Gas Regulatory Board (PNGRB), the shift is driven by favorable global LNG market trends, enhanced gas infrastructure, and supportive policies. Currently, India has around 700 LNG trucks and 20 filling stations, a stark contrast to China's extensive network. The report anticipates that LNG prices below $9 per million British thermal units will further stimulate demand, aiding in the decarbonization of the transport sector, which currently relies heavily on diesel. The Ministry of Petroleum & Natural Gas aims to establish 1,000 LNG stations along key routes. By 2030, LNG truck numbers could reach between 30,000 and 50,000, with natural gas demand projected to rise significantly in the coming years.
Published: Jun 12 2025, 12 pmeznews.inPrices of ball copra, a key edible product derived from coconuts, have soared to unprecedented levels in Karnataka, primarily due to erratic weather patterns that have severely impacted production. Since early March, prices have surged by approximately 50%, with modal prices in the Tiptur APMC market rising from ₹14,000-15,000 per quintal to over ₹20,000 by early June, peaking at ₹22,356 on June 9. Srikant Kelahatti from Raitha Bandhu noted that production has plummeted by 50-60% this year, driven by adverse weather conditions and pest attacks. The lengthy production process of ball copra, which takes 9 to 11 months, further complicates supply issues. While farmers benefit from high prices, the surge may lead to reduced demand as ball copra is not an essential commodity. Karnataka accounts for 72.8% of India's edible copra production, highlighting its critical role in the market.
Published: Jun 12 2025, 1 pmeznews.inIndia's palm oil imports surged to an average of over 750,000 tonnes per month during the marketing year ending in October 2024, according to the Solvent Extractors' Association of India (SEA). In May, imports reached a six-month high of 592,888 metric tonnes, an 84% increase from April, driven by low inventories and competitive pricing compared to soyoil and sunflower oil. This uptick in palm oil, alongside a 10.4% rise in soyoil imports to 398,585 tonnes and a 1.9% increase in sunflower oil imports to 183,555 tonnes, contributed to a total vegetable oil import increase of 33% in May, reaching 1.19 million tonnes. With domestic stocks at their lowest since July 2020, further increases in palm oil imports are anticipated in June, potentially reaching 850,000 tonnes, aided by a recent reduction in import duties aimed at lowering food prices.
Published: Jun 12 2025, 1 pmeznews.inOver 200 domestic and international electric vehicle manufacturers are set to participate in the India Energy Storage Week (IESW) from July 8 to 10, 2025, at the Yashobhoomi Convention and Expo Centre in New Delhi. Organised by the India Energy Storage Alliance (IESA), this 11th edition aims to bolster India's ambition of becoming a global manufacturing hub for electric vehicles (EVs). The country has rapidly emerged as a significant player in the electric three-wheeler and two-wheeler markets, driven by government initiatives like the PLI Auto and FAME schemes. The Indian EV market is projected to reach $117.78 billion by 2032, with a compound annual growth rate of 22.4%. IESA President Debmalaya Sen highlighted the importance of the SPMEPCI guidelines in fostering innovation and investment, while the event will also feature collaborations with several Indian states to enhance the EV ecosystem.
Published: Jun 12 2025, 11 ameznews.inBillionaire Gautam Adani's group is set to list its airports unit, Adani Airport Holdings Ltd., by March 2027 as part of a bold $100 billion investment strategy aimed at expanding its energy, logistics, and infrastructure sectors. Currently the largest private airport operator in India, Adani Airport Holdings manages eight airports and is preparing to launch a new terminal near Mumbai. Following a tumultuous period marked by allegations of corporate fraud and a bribery investigation involving its founder, the Adani Group is accelerating its capital spending, now planning to invest the $100 billion over five to six years instead of a decade. The conglomerate intends to finance this ambitious plan through a combination of $30 billion in loans and $50 billion from its listed companies, while also attracting overseas investors. Recent fundraising efforts include a $750 million bond issue and a $150 million loan from DBS Group.
Published: Jun 12 2025, 10 ameznews.inAn ethane tanker, the STL Qianjiang, has shifted its destination from China to India, reflecting the impact of U.S.-China trade tensions on global ethane flows. The vessel, which loaded at Energy Transfer's Nederland terminal, is now headed to Dahej, India, with Reliance Industries identified as the final buyer, according to Kpler data. This change comes after the U.S. government mandated that exporters obtain licenses to ship ethane to China, where approximately half of U.S. ethane exports are typically sent for use in the petrochemical industry. Energy Transfer and Enterprise Products Partners, major U.S. ethane producers, have received letters from the Commerce Department regarding the licensing requirement, with Enterprise also facing potential denials for emergency export requests totaling 2.2 million barrels to China. Ethane is favored by Chinese firms as a cost-effective feedstock compared to naphtha, while U.S. producers seek to offload excess domestic supply.
Published: Jun 12 2025, 10 ameznews.inAirbus SE has forecasted that the global commercial aircraft fleet will nearly double to around 50,000 planes over the next 20 years, driven by burgeoning markets like India, where a growing middle class is increasingly opting for air travel. The company anticipates an increase of 24,480 aircraft, reaching 49,210 by 2044, with most growth stemming from single-aisle models such as the Airbus A320 and Boeing 737. India is projected to be the fastest-growing aviation market, while China will lead in capacity. Despite global trade tensions and supply chain challenges, including shortages of engines and parts, demand for new aircraft remains robust, according to Airbus CEO Christian Scherer. Notably, India has emerged as a significant aircraft buyer, with Air India and IndiGo placing substantial orders, reflecting the country's status as the world's third-largest domestic aviation market.
Published: Jun 12 2025, 10 ameznews.inThe Director General of Shipping (DGS) has issued a formal notice to MSC Ship Management for gross negligence in the salvage operations of the sunken Liberia-flagged container vessel MSC Elsa 3 off the Kochi coast, highlighting an imminent threat to the marine environment. The DGS criticized the inadequate progress in the operation, warning that if oil extraction does not commence within 48 hours, legal action may be pursued against the ship owners and salvors under Indian law. Local communities, reliant on fishing, have already faced significant economic losses due to the vessel's presence and ongoing pollution risks. Delays in deploying necessary diving support and visa applications for divers from 11 countries have exacerbated the situation. The vessel, lying at a depth of 51 meters, requires saturation diving for oil recovery, yet only limited air diving has occurred, with oil extraction initially scheduled for June 5 still not begun.
Published: Jun 12 2025, 10 am
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