Import/Export Industry Notifications

India may be slowly easing out of lockdown, but limits on factory production and compressed air and sea freight capacity are still jeopardising exports – particularly to the US. Covid restrictions vary from state to state, but significant economic hubs like Chennai, New Delhi, Mumbai, and Tamil Nadu allow businesses to reopen.

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The Chennai Port faces a 25% deficit of containers because of the supply and demand gap sparking concern among exporters who now have to pay double rates to send consignments as the pandemic has triggered a worldwide shipping crisis.

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Indian Companies need to consider the advantage of Egypt’s geographical location to access Europe, Middle East, and Africa market.

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India has put on hold a proposal to decrease import taxes on edible oils as cooking oil prices started to fall in the world market after hitting record highs, two government and one industry officials said.

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Amendment in Sl No. B VI of Appendix 4B ‘ List of Nominated Agencies’

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Port Container Yard has reopened a 55-acre container yard in Newark that was previously dedicated to empty containers to store import boxes vacated from congested Port of New York and New Jersey terminals.

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North European importers face more vessel diversions as carriers lose patience with congested box terminals and dump their cargo at other ports. 2M partners Maersk and MSC have advised their customers they will skip Hamburg on their AE7/Condor loop from Asia for a further four weeks due to congestion at its Eurogate Terminal.

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More than 130 omitted calls and over 60 added calls had been noted for the period 23 May - 26 June due to low productivity and congestion caused by Covid-19 restrictions at South China ports.

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The Panama Canal has expanded the maximum allowable length for vessels transiting the Neopanamax Locks. According to the Panama Canal Authority, the increase means that now 96.8% of the world’s fleet of container ships can transit the Panama Canal, shortening routes and benefiting economies around the world.

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