Import/Export Industry Notifications

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.

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.

Thailand’s container shortage is playing mayhem with supply chains as carriers prioritise capacity in neighbouring China and Vietnam, say cargo owners. The Thailand board of trade evaluates the country had a shortage of 1.5m containers in 2020, as per the Bangkok Post, prompting the government to interfere by promising to subsidise import fees for empty boxes for up to six months.

As per the final Shanghai Containerized Freight Index (SCFI) for 2020, which was published on 31st December 2020, it recorded a staggering 190% gain on the year. Shippers have told The Loadstar that Asia-North Europe carriers are now asking for up to $16,000 per 40ft to guarantee shipment in the second half of January.

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.

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.