Import/Export Industry Notifications

After a month of disruptions because of the outbreak of COVID-19 in southern China, the Yantian International Container Terminal operators announced that they are resuming normal terminal operations. However, the major shipping lines and industry analysts continue to warn of significant delays and backlogs that could continue to impact global supply chains for weeks or months to come.

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Developer of Grade A industrial real estate and logistics parks IndoSpace on June 23 announced the launch of two parks, Vallam II and Oragadam III in Tamil Nadu, with a combined area of 118 acres, the company said. However, the company did not disclose the amount invested.

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The tax department has held back the export benefits of many companies with three-way contracts, or tripartite agreements, with multinationals, the Economic Times mentioned in a report citing people dealing with such cases.

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A global disparity of containers, port disturbances caused by Covid outbreaks, and a still-wobbly supply-demand curve as economies recover at differing rates are causing chaos in the shipping industry. And small and medium enterprises (SMEs) are beginning to find themselves priced out of the trade.

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A modern drydock equipped with all the required facilities for ship repairing services was inaugurated at Kandla Port by Chairman S.K. Mehta. The dry dock is compliant with all codes of construction and all relevant licenses.

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The center holds top-level inter-ministerial meetings to give a final shape to the much-awaited Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exporters and take the crucial decision on the ceilings or exclusions to be woven in so that finances are not over-stretched.

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The Digital Container Shipping Association (DCSA) has released interface standards for the submission of shipping instructions and bill of lading (B/L) issuance, including application programming interface (API) definitions, aiming to facilitate implementation of its B/L standards.

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The first container block train from Finland traveling to the Indian port of Nava Sheva has left from Helsinki, ADY Container told APA-Economics. The transportation of the block train running via the International North-South Transport Corridor (INSTC) is a joint venture of JSC RJD Logistics, ADY Container LLC, and Tarkib Trans Co. The train passing through Russia, Azerbaijan, and Iran consist of 32 40-foot containers loaded with paper products.

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Exports of marine products from Gujarat took a beating in fiscal 2020-21 due to the disturbance in export markets, especially China. The state’s marine exports declined by 17% to Rs 4,137 crore in 2020-21 from Rs 4,985 crore in the previous financial year, shows data from the Seafood Exporters Association of India (SEAI).

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