Import/Export Industry Notifications

Another ocean carrier has fallen foul to a cyber-attack. This time, it is South Korea’s HMM, which, on 15 June, confirmed a virus attack on its email system on 12 June. HMM said that an unidentified security breach was detected, which led to limited access to the email Outlook system in certain areas.

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Initially, it was a crucial shortage of shipping containers due to the pandemic. Then came a huge blockage in the Suez Canal. Now, businesses and consumers are bracing for yet another shipping crisis, as a virus outbreak in southern China disrupts port services and delays deliveries, driving up costs again.

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CMD Bhumiraj Group details the infrastructural development, mega projects, and crores of investments resulting in enormous employment opportunities in the region. Shah, the Chairman Trustee Board of Builders Association of Navi Mumbai (BANM), declares that the city is on the threshold of a new turning point in terms of development and that JNPT is a significant factor.

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Further to the advisory dated 7th June – Ref no # CCAI-396-070621 as stated, the standard gate opening/closing cut-off remains unchanged, i.e., gates for 1st VCN byroad cargo shall open five days before vessel arrival. (Early gate-in may be allowed 6 or 7 days before vessel ETA on a ground rent basis)

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The Chennai Port faces a 25% shortage 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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The Department of Commerce (DoC) has recommended increasing the budget of the Remission of Duties and Taxes on Export Products (RoDTEP) scheme to Rs 20,000 crore to cover all 11,310 tariff lines and allay any legal concerns that it is a mere replacement of the WTO non-compliant Merchandise Export Incentive Scheme.

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The first-ever shipment of Organic Soya Meal in bulk from India and destined to Baltimore in the USA was handled at Deendayal Port (DPT), Kandla. M/s Mystic Shipping Pvt. Ltd., who was the CHA, Stevedore, and the handling agent, coordinated with the DPT authorities to load the cargo on the vessel MV IKAN PULAS. The vessel agent was Tristar Logistics India Pvt. Ltd. The shipment was destined to Baltimore, USA.

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India's exports increased by 69.35% to USD 32.27 billion in May on account of healthy growth in sectors such as engineering, petroleum products, and gems and jewellery, even as the trade deficit dropped to an eight-month low of USD 6.28 billion, according to government data released on Tuesday.

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Bangladesh has surpassed Hong Kong to become India’s fourth-biggest export destination in the first three months of the current calendar year. Moreover, it has climbed four notches to fare in the country’s top five export destinations in 2020-21 because of New Delhi’s diplomatic efforts, logistical ease, and robust demand for Indian farm produce.

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