Import/Export Industry Notifications

Brexit has forced a few retailers to localise supply chains in Northern Ireland in a temporary move to bypass new customs restrictions.

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In a joint letter sent to the Competition Directorate of the European Commission yesterday, the European Freight Forwarders Association (CLECAT) and the European Shippers’ Council (ESC) have informed the commission on issues arising from carriers’ ongoing practices. The two organisations claim liners have been violating existing contracts, creating unreasonable conditions concerning the acceptance of bookings and unilaterally setting of rates far more than those agreed in contracts.

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Vietnam, the world's third biggest exporter of rice, has started buying the grain from rival India for the first time in decades after local prices jumped to their highest in nine years amid limited domestic supplies. The purchases highlight tightening supplies in Asia, which could lift rice prices in 2021 and even force traditional buyers of rice from Thailand and Vietnam to switch to India - the world's biggest exporter of the grain.

The Principal Commissioner of Customs at Mundra Port has stated in a trade notice that importers can avail the facility of Direct Port Delivery (DPD) for full container load (FCL) containers under Bills of Entry which are fully facilitated by Risk Management System (RMS), effective from 4th January 2021.

Officials said on Monday that a total of 53 goods trains functioned on the newly constructed 351-km long New Bhaupur-New Khurja Eastern Dedicated Freight Corridor (EDFC) and the freight trains attained “game-changing” top speed of more than 90 kmph.

The external affairs ministry has warned the commerce ministry against mounting cyber frauds against Indian exporters, which are causing a spike in bilateral trade disputes.

Freight trains have begun to achieve top speeds of above 90 kmph on the newly inaugurated New Khurja-New Bhaupur section of Eastern Dedicated Freight Corridor, stated an official release, adding that the move will result in faster delivery of goods and turnaround, reducing freight costs.

The country's dozen state-owned ports handled a combined 477.755 million tonnes (mt) of cargo during April to December, 8.8 per cent lower than the 523.844 mt in the same period last year.

Exporters get some relief as Rlys moves empty containers free to CFS, ICD. Centre also explores ways to address shortage.