Rapidly increasing spot freight rates are diverging further from contract rates, imitating the pattern seen during the pandemic, leaving large shippers in a better position than SMEs and freight forwarders, according to freight rate benchmarking platform Xeneta. Xeneta market analyst Emily Stausboll said: “Some of our customers are saying this brings back pandemic memories, and […]
In a significant shift in the global coffee trade, Indian coffee exporters are experiencing a notable increase in demand from European buyers. This surge is attributed to European companies building up their inventories ahead of the impending European Union Deforestation Regulation (EUDR) compliance deadline. The EUDR, set to take effect on December 30, 2024, aims […]
The Indian government has announced a series of measures to allow limited imports of key agricultural commodities under tariff-rate quotas (TRQs), aiming to curb rising food inflation. The decision, made public on Wednesday, permits the import of specific quantities of corn, crude sunflower oil, refined rapeseed oil, and milk powder at reduced or zero duty […]
Indian imports of Russian coal have declined while U.S. shipments have risen in the three months ending in May, data from coal consultancy Bigmint showed, which traders attributed to Russian supplies becoming less competitive. Russia’s exports of all types of coal to India over the period fell 22.4% from a year earlier to 6.76 million […]
Visakhapatnam Port emerged as India’s top seafood exporting gateway, clocking an impressive shipment of 3.14 lakh tonnes, valued at Rs 17,984 crore in fiscal 2023-24, a port official said on Monday. Mumbai-based Jawaharlal Nehru Port Authority (JNPA), which handled over 2.4 lakh tonnes of seafood, valued at Rs 6,396 crore is ranked behind the Visakhapatnam […]
Exporters sought the creation of an Indian shipping line, duty cuts on the import of products like wet blue leather, an extension of a key scheme for small exporters to avail pre- and post-shipment rupee export credit, and duty drawback for platinum jewellery at their pre-budget meeting with finance minister Nirmala Sitharaman on Tuesday. Highlighting […]
A.P. Moller-Maersk (Maersk) has implemented a new Peak Season Surcharge (PSS) from the Asia Pacific area to the US and Canada. The new PSS will be effective on or after 7 July 2024, until further notice. The rates are also subject to other applicable surcharges, including local charges and contingency charges. These rates are unaffected […]
The European Commission has imposed anti-dumping duties ranging from 8% to 11.4% on Indian optical fibre cable (OFC) manufacturers. This includes companies such as Sterlite Technologies, Birla Cables, Universal Cables, and Vindhya Telelinks, among others, that were exporting OFC to Europe. Following a thorough six-month investigation, which involved physical inspections at the factory premises of […]
HMM India has announced a new General Rate Increase for shipments from India to North Continental Port and Mediterranean ports. The Indian branch of the South Korean container transportation and shipping company said that effective from 28 June 2024, for loading on the FIM (Far East India Mediterranean) Service Vessel, Hyundai Tokyo 0152W, there will […]
Recent data from Container exchange indicates significant impact of congestion on the average container prices and leasing rates at the port of Singapore. Average container prices in Singapore have surged by 26% from October 2023 to May 2024, reflecting a substantial increase in demand for capacity amid global congestion. Furthermore, container leasing rates on key […]