INTRODUCTION

Aspinwall and Company Limited is one of the earliest commercial enterprises in the Malabar Coast, established in the year 1867, by the legendary English trader and visionary, John H. Aspinwall.

In 1956, the Royal Family of Travancore acquired some shares in Aspinwall, when the company became a public limited company. In the early 1970's, when the English owners decided to disinvest, major portion of the company's shareholding was taken over by the Royal Family, and they hold the controlling interests till date.

Today, Aspinwall and Company Limited has diversified business interests in the areas of Shipping & Logistics, Coffee Trading and Exports, Coir, Rubber Plantations and Tourism. The great visionary is long gone. But J.H. Aspinwall's dynamic spirit is very much kept alive in the priceless legacy he has left behind: Aspinwall and Company Limited. The seed of enterprise that he planted way back in 1867 has now become a giant spreading tree - a corporate phenomenon - rapidly growing vertically and laterally.

Board of Directors Corporate Governance Vision History Activities

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Company Profile
Business Type Year Established No. Of Employees: Annual Turnover : : 95 : Rs 5 Crores Exporter / Manufacturer 1978

Products Manufacturer and Exporter : Coffee, coir, rubber, carnatic mats, coir rugs, creel mats, fibre mats, geo textiles, handloom matting, Hollander mats, jute rugs, power loom mats, rub...

Contact Information Company Name Aspinwall & Co. Ltd. Address # A-11, WORLD TRADE AVENUE, HARBOUR ESTATE, Tuticorin -

628004, Tamil Nadu, India Phone No Fax 91-461-2353744

91-461-2353635 Mr. Jebachandran (Asst. General Manager)

Contact Person Mobile Send Inquiry

+919443357000

ORGANISATION STRUCTURE

Aspinwall Chairman - HH Marthanda Varma

Management Managing Director - Mr. Rama Varma

Other Directors

C R R Varma Brigadier R R V N Varma K R N Menon P K Sasidharan

J H Aspinwall (1834 - 1884) Egyptians, Arabians, Chinese, Europeans..For centuries, they kept flocking to the shores of Kerala..in search of spices and riches. Some of them plundered the hills and the plains, and went home wealthy. A few of them stayed back and nurtured the economy of the land. One such outstanding personality who made Cochin his home away from home was John .H. Aspinwall.
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J H Aspinwall (1834 - 1884) HH Sree Cithara Tribal (1912 - 1991) Enter Aspinwall In 1863, John H Aspinwall was inducted as a partner into Scott Brothers. He acquired the business of Scott Brothers in 1867, and launched Aspinwall & Company, offering a range of shipping services, besides carrying on business in timber, spices and several other agro products The Aspinwall era had begun. The illustrious J.H Aspinwall expired in 1884, leaving the fortunes of his company in the capable hands of his partner, W.N. Black. Subsequently, E.H. Black also joined the firm. The Black brothers consolidated and expanded the Aspinwall enterprise

Royal Connection
Aspinwall became a public limited company in 1956, with financial participation from the Travancore Royal family. When, in 1971, the English company offered to disinvest its holdings, the Royal family acquired the controlling shares in the Group. With this regal association, the company acquired a character and personality of its own, with dynamism, integrity and customer focus as its distinct hallmark

Corporate Governance

Code of conduct for Directors Code of conduct for Insider Trading Committees

Vision
We at Aspin wall are committed to Realising your Aspirations as we drive each of our activities with Enduring Trust and practice Resource Optimisation to make Efficacious Delivery to all our stakeholders day after day.

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Products & Services Hollandar Mats

We offer our client an excellent quality range of Hollandar Mats. These Hollandar Mats are offered in variety of designs, shapes, sizes and colours. Our assortment of Hollandar Mats are available at market.

Handloom Coir Matting

We offer our client an excellent quality range of Handloom Coir Matting. These Handloom Coir Matting are offered in variety of designs, shapes, sizes and colours. Our assortment of Handloom Coir Matting......

Fibre Mats- Inlaid Designs

We offer our client an excellent quality range of Fibre mats- Inlaid Designs. These Fibre mats- Inlaid Designs are offered in variety of designs, shapes, sizes and colours. Our assortment of Fibre mats ......

Fibre Mats
We offer our client an excellent quality range of Fibre Mats. These Fibre Mats are offered in variety of designs, shapes, sizes and colours. Our assortment of Fibre Mats are available at market leading ......

Fibre Mats Stenciled

We offer our client an excellent quality range of Fibre Mats Stencilled. These Fibre Mats Stencilled are offered in variety of designs, shapes, sizes and colours. Our assortment of Fibre Mats Stencilled .

Power Looms
We are made on imported power looms. Mainly used as Floor coverings, floor runners for furnishing stairs and corridors. These coir matting are also cut into rug sizes with ends bound , tucked in , fringed ......

Jute Rugs
These Jute Rugs are Jute matting cut to rug sizes with ends bound, tucked in, fringed or rubber sealed. Also available in Latex-backed and un-backed and four sides stitched with coloured and jacquard .

Hand Spun Jute Rugs

These Hand Spun Jute Rugs are Jute matting cut to rug sizes with ends bound, tucked in, fringed or rubber sealed. Also available in Latex-backed and un-backed and four sides stitched with coloured

Coir Rugs
These Coir Rugs are coir matting cut to rug sizes with ends bound, tucked in, fringed or rubber sealed. Also available in Latex-backed and un-backed and four sides stitched with coloured and jacquard ......

Creel Mats
Creel Mats are Low pile mats made from either Vycome yarn or Beach yarn , in a two-chain structure or a stronger three-chain structure . Available as plain, stenciled or bleach / stencilled mats
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ACTIVITIES

Aspinwall, with a colourful and chequered history spanning over nearly a century and a half, is today a highly broad-based corporate business house .The activities comprise Shipping and Logistics Services, Rubber Plantations, Coffee Processing and Trading, Coir & other Natural Fibre Products and Tours & Travels

ORGANIZATION STUDY

Shipping Services

Liner services Ship agency services Custom House Agents Stevedoring services Bulk cargo services Air cargo services Freight forwarding services Warehousing services Project & OD Cargo handling

Coffee
Processing of Green coffee Trading and Exports Speciality coffee

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Rubber

Rubber plantations Manufacture of Centrifuged rubber latex & Block rubber

Natural Fibre Products (Coir)

Manufacture of Environment Friendly Coir, Jute Furnishings, Home Products and Geo Textiles Branded door mats - Sparsh (for Indian Market

Tourism & Hospitality

Package Tours MICE - Meetings, Incentive tours, Conferences and Exhibitions

INVOLVEMENT Aspinwall's involvement with shipping dates back to the very origin of the company, about a century-and-a-halfago.

In tune with the growing tempo in marine traffic, Aspinwall steadily expanded its sphere of operations, building upon its rich expertise and extensive experience in ship chartering and marine/general insurance. Today, Aspinwall's Logistics Division has a pan-India presence with a wide network of offices that covers major ports, ICD's and airports.

Liner Services
Represents world class shipping lines in various locations across the country.

Customs House Agents

Aspin wall provides documentation services to importers and exporters at all customs stations in the country covering ports, ICD's and airports.

Freight Forwarding Services

The Division offers seamless services in cargo carriage, handling, warehousing and distribution. Our global network enables us to extend point-to-point movement of cargo based on client requirements.

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Air Cargo Services

Aspinwall's Logistics Division is an IATA accredited cargo agency having operations at all major airports in the country.

Ship Agency Services

The Logistics Division provides agency services to owners and charterers of bulk and liquid cargo, containers, cruise ships and off-shore vessels.

Stevedoring Services
Stevedoring operations for various types of cargoes such as bulk, break bulk, containers and projects.

Bulk Cargo Services

Handling major commodities such as iron ore, coal, fertilizers, food grains, sugar, etc., at ports across India

Warehousing Services
The Division has extensive warehousing facilities at all its locations for safe storage of consignments.

Project and Over-Dimensional Cargo handling

Aspinwall Logistics Division has handled major projects that include Customs clearance, handling and transportation of over-dimensional and heavy lift consignments.

TERMS OF SHIPMENTS INCOTERMS The INCOTERMS (International Commercial Terms) is a universally recognized set of definition of international trade terms, such as FOB, CFR & CIF, developed by the International Chamber of Commerce(ICC) in Paris, France. It defines the trade contract responsibilities and liabilities between buyer and seller. It is invaluable and a cost-saving tool. The exporter and the importer need not undergo a lengthy negotiation about the conditions of each transaction. Once they have agreed on a commercial terms like FOB, they can sell and buy at FOB without discussing who will be responsible for the freight, cargo insurance and other costs and risks.

The INCOTERMS was first published in 1936 --- INCOTERMS 1936 --- and it is revised periodically to keep with changes in the international trade needs. The complete definition of each term is available from the current publication --- INCOTERMS 2000. Under INCOTERMS 2000, the international commercial terms are grouped into E, F, C and D, designated by the first letter of the term, relating to the final letter of the term. E.g. EXW exworks comes under grouped E.

The purpose of Incoterms is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree. The scope of Incoterms is limited to matters relating to the rights and
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obligations of the parties to the contract of sale with respect to the delivery of goods. Incoterms deal with the number of identified obligations imposed on the parties and the distribution of risk between the parties.

In international trade, it would be best for exporters to refrain, wherever possible, from dealing in trade terms that would hold the seller responsible for the import customs clearance and/or payment of import customs duties and taxes and/or other costs and risks at the buyers end, for example the trade terms DEO (Delivery Ex Quay) and DDP (Delivered Duty Paid) Quite often, the charges and expenses at the buyers end may cost more to the seller than anticipated. To overcome losses, hire a reliable customs broker or freight forwarder in the importing country to handle the import routines.

Similarly, it would be best for importers not to deal in EXW (Ex Works) which would hold the buyer responsible for the export customs clearance, payment of export customs charges and taxes, and other costs and risks at the sellers end MORE CLARIFICATION ON INCOTERMS EXW {+the named place} Ex Works: Ex means from. Works means factory, mill or warehouse, which are the sellers premises. EXW applies to goods available only at the sellers premises. Buyer is responsible for loading the goods on truck or container at the sellers premises and for the subsequent costs and risks. In practice, it is not uncommon that the seller loads sthe goods on truck or container at the sellers pre4mises without charging loading fee. N the quotation, indicate the named place (sellers premises) after the acronym EXW for example EXW Kobe and EXW San Antonio.

The term EXW is commonly used between the manufacturer (seller) and export-trader(buyer), and the export-trader resells on other trade terms to the foreign buyers. Some manufacturers may use the term Ex-Factory, which means the same as Ex Works.

FCA {+the named point of departure} Free Carrier: The delivery of goods on truck, rail car or container at the specified point(depot) of departure, which is usually the sellers premises, or a named railroad station or a named cargo terminal or into the custody of the carrier, at sellers expense. The point(depot) at origin may or may not be a customs clearance Centre. Buyer is responsible for the main carriage/freight, cargo insurance and other costs and risks.

In the air shipment, technically speaking, goods placed in the custody of an air carrier are considered as delivery on board the plane. In practice, many importers and exporters still use the term FOB in the air shipment. The term FCA is also used in the RO/RO (roll on/roll off) services

In the export quotation, indicate the point of departure (loading) after the acronym FCA, for example FCA Hong Kong and FCA Seattle. Some manufacturers may use the former terms FOT (Free on Trucks) and FOR (Free on Rail) in selling to export-traders. FAS {+the named port of origin}

Free Alongside Ship: Goods are placed in the dock shed or at the side of the ship, on the dock or lighter, within reach of its loading equipment so that they can be loaded aboard the ship, at sellers expense. Buyer is responsible for the loading fee, main carriage/freight, cargo
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insurance, and other costs and risks In the export quotation, indicate the port of origin(loading)after the acronym FAS, for example FAS New York and FAS Bremen. The FAS term is popular in the break-bulk shipments and with the importing countries using their own vessels.

FOB {+the named port of origin) Free on Board: The delivery of goods on the board the vessel at the named port of origin (Loading) at sellers expense. Buyer is responsible for the main carriage/freight, cargo insurance and other costs and risks. In the export quotation, indicate the port of origin (loading) after the acronym FOB, for example FOB Vancouver and FOB Shanghai.

Under the rules of the INCOTERMS 1990, the term FOB is used for ocean freight only. However, in practice, many importers and exporters still use the term FOB in the air freight. In North America, the term FOB has other applications. Many buyers and sellers in Canada and the USA dealing on the open account and consignment basis are accustomed to using the shipping terms FOB Origin and FOB destination.

FOB Origin means the buyer is responsible for the freight and other costs and risks. FOB Destination means the seller is responsible for the freight and other costs and risks until the goods are delivered to the buyers premises which may include the import custom clearance and payment of import customs duties and taxes at the buyers country, depending on the agreement between the buyer and seller. In international trade, avoid using the shipping terms FOB Origin and FOB Destination, which are not part of the INCOTERMS (International Commercial Terms).

CFR {+the named port of destination} Cost and Freight: The delivery of goods to the named port of destination (discharge) at the sellers expenses. Buyer is responsible for the cargo insurance and other costs and risks. The term CFR was formerly written as C&F. Many importers and exporters worldwide still use the term C&F. In the export quotation, indicate the port of destination (discharge) after the acronym CFR, for example CFR Karachi and CFR Alexandria. Under the rules of the INCOTERMS 1990, the term Cost and Freight is used for ocean freight only. However, in practice, the term Cost and Freight (C&F) is still commonly used in the air freight. CIF {+named port of destination} Cost, Insurance and Freight: The cargo insurance and delivery of goods to the named port of destination (discharge) at the sellers expense. Buyer is responsible for the import customs clearance and other costs and risks. In the export quotation, indicate the port of destination (discharge) after the acronym CIF, for example CIF Pusan and CIF Singapore. Under the rules of the INCOTERMS 1990, the term CIFI is used for ocean freight only. However, in practice, many importers and exporters still use the term CIF in the air freight. CPT {+the named place of destination} Carriage Paid To: The delivery of goods to the named port of destination (discharge) at the sellers expenses. Buyer assumes the cargo insurance, import custom clearance, payment of custom duties and taxes, and other costs and risks. In the export quotation, indicate the port of destination (discharge) after the acronym CPT, for example CPT Los Angeles and CPT Osaka.

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CIP {+ the named place of destination) Carriage and Insurance Paid To: The delivery of goods and the cargo insurance to the named place of destination (discharge) at sellers expense. Buyer assumes the importer customs clearance, payment of customs duties and texes, and other costs and risks.

In the export quotation, indicate the place of destination (discharge) after the acronym CIP, for example CIP Paris and CIP Athens. DAF {+ the names point at frontier} Delivered At Frontier: The delivery of goods to the specified point at the frontier at sellers expense. Buyer is responsible for the import custom clearance, payment of custom duties and taxes, and other costs and risks. In the export quotation, indicate the point at frontier (discharge) after the acronym DAF, for example DAF Buffalo and DAF Welland. DES {+named port of destination} Delivered Ex Ship: The delivery of goods on board the vessel at the named port of destination (discharge) at sellers expense. Buyer assumes the unloading free, import customs clearance, payment of customs duties and taxes, cargo insurance, and other costs and risks. In the export quotation, indicate the Port of destination (discharge) after the acronym DES, for example DES Helsinki and DES Stockholm. DEQ {+ the named port of destination Delivered Ex Quay: The delivery of goods to the Quay (the port) at the destination at buyers expense. Seller is responsible for the importer customs clearance, payment of customs duties and taxes, at the buyers end. Buyer assumes the cargo insurance and other costs and risks. In the export quotation, indicate the Port of destination (discharge) after the acronym DEQ, for example DEQ Libreville and DEQ Maputo.

DDU {+ the named point of destination} Delivered Duty Unpaid: The delivery of goods and the cargo insurance to the final point at destination, which is often the project site or buyers premises at sellers expense. Buyer assumes the import customs clearance, payment of customs duties and taxes. The seller may opt not to insure the goods at his/her own risks.

In the export quotation, indicate the point of destination (discharge) after the acronym DDU for example DDU La Paz and DDU Ndjamena. DDP {+ the named point of destination) Delivered Duty Paid: The seller is responsible for most of the expenses which include the cargo insurance, import custom clearance, and payment of custom duties, and taxes at the buyers end, and the delivery of goods to the final point of destination, which is often the project site or buyers premise. The seller may opt not to insure the goods at his/her own risk. In the export quotation, indicate the point of destination (discharge) after the acronym DDP, for example DDP Bujumbura and DDP Mbabane. E-term,F-term, C-term &D-term: Incoterms 2000, like its immediate predecessor, groups the term in four categories denoted by the first letter in the three-letter abbreviation. Under the E-TERM (EXW), the seller only makes the goods available to the buyer at the sellers own premises. It is the only one of that category. Under the F-TERM (FCA, FAS, &FOB), the seller is called upon to deliver the goods to a carrier appointed by the buyer. Under the C-TERM (CFR, CIF, CPT, & CIP), the seller has to contract for carriage, but without assuming the risk of loss or damage to the goods or additional cost due to events occurring after shipment or discharge. Under the D-TERM (DAF, DEQ, DES, DDU & DDP), the seller has to bear all costs
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and risks needed to bring the goods to the place of destination. All terms list the sellers and buyers obligations. The respective obligations of both parties have been grouped under up to 10 headings where each heading on the sellers side mirrors the equivalent position of the buyer. Examples are Delivery, Transfer of risks, and Division of costs. This layout helps the user to compare the parties respective obligations under each Incoterms.

PROCESSING AN EXPORT ORDER You should not be happy merely on receiving an export order. You should first acknowledge the export order, and then proceed to examine carefully in respect of Items Specification Pre-shipment inspection Payment conditions Special packaging Labeling and marketing requirements Shipment and delivery date Marine insurance Documentation requirement etc.

If you are satisfied on these aspects, a formal confirmation should be sent to the buyer, otherwise clarification should be sought from the buyer before confirming the order. After confirmation of the export order immediate steps should be taken for procurement/manufacture of the export goods. In the meanwhile, you should proceed to enter

into a formal export contract with the overseas buyer.

Before accepting any order necessary homework should have been done as to availability of the production capacity, raw material e.t.c. It would be in the interest of the exporter to look into entering into forward contract to safeguard against exchange rate fluctuations. Ensure that the mode of payment is also agreed upon. In case of shipment against letter of credit, the buyer should be advised to open the credit well in advance before effecting the shipment.

FINANCIAL RISKS INVOLVED IN FOREIGN TRADE

As an exporter while selling goods abroad, you encounter various types of risks. The major risks which you have to undergo are as follows: Credit Risk Currency Risk Carriage Risk Country Risk

You can protect yourself against the above risks by initiating appropriate steps. Credit Risks : You can cover your credit risk against the foreign buyer by insisting upon opening a letter of credit in your favour. Alternatively one can avail of the facility offered by various credit risk agencies. A specific insurance cover can also be obtained from ECGC (Exports Credit & Guarantee Corporation) to cover your country risk besides covering credit risk.
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Currency Risks: As regards covering the currency risk, due to the exchange rate fluctuations, you can request your banker to book a forward contract. Carriage Risk: The carriage risk can be covered by taking an appropriate general insurance policy. Country Risk: ECGC provides cover to protect the exporter from country risks. A detailed procedure how an exporter can get himself protected against the above risks are given in separate chapters later.

CONCLUSION

It was indeed a great pleasure and wonderful experience for me interacting with the employees of The Aspinwall & Co Pvt Ltd Tuticorin., during my study of four weeks. They were very co-operative towards me without them my work wouldnt have been so simple.

Therefore, I sincerely request the management to look into above matters and to take necessary measures to implement the suggestion made above for the betterment of the employees and workers in yours reputed company Aspinwall & Co Pvt Ltd Tuticorin.

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