Spot freight rate levels on the major east-west container trades this week remained flat, as the third-quarter peak season swung into gear. It is now less than three months until China’s Golden Week holiday, on 1 October, that will see the country’s factories shut for seven days – and, given the extended voyage times on […]
The Consumer Affairs Ministry on July 14 proposed an amendment to the Legal Metrology (Packaged Commodities) Rules, 2011, seeking to mandate the declaration of key information on pre-packaged commodities weighing over 25 kg or measuring more than 25 litres sold in retail markets. The move aims to close a loophole that currently exempts such bulk […]
New analysis from Germany shows the container sector faces the brunt of penalties from the upcoming FuelEU Maritime regulation, the sector likely to account for nearly a third of all pay outs. The financial impact of FuelEU Maritime, which comes into force at the start of next year, is focusing the minds of shipping companies […]
Danish container line Maersk has announced a revision of a peak season surcharge (PSS) from the Indian Subcontinent and Middle East to the United States West Coast. Maersk will revise the PSS for United Arab Emirates (UAE), Bangladesh, Bahrain, Bhutan, India, Iraq, Jordan, Kuwait, Sri Lanka, Maldives, Nepal, Oman, Pakistan, Qatar, Saudi Arabia and Yemen […]
India is unlikely to ease restrictions on exports of sugar until at least October and any review on the ban will only be conducted after reviewing the progress of planting for the next season, a government official said, on condition of anonymity. The world’s second-largest sugar producer, India extended a ban, first placed in June […]
India’s rice exports have seen a significant downturn in the first quarter of the current financial year, falling by nearly 34 per cent to 3.2 million tonnes. This decline comes in the wake of several government measures aimed at safeguarding domestic food security and managing inflation. The Indian government has implemented a series of export […]
The Indian Railways have asked firms running container trains to pay a non-refundable fee of Rs25 crores and Rs5 crores, depending upon the type of permit, for roll over of their concession agreements that ends in 2026 and 2027 after a 20-year run. The renewal of the concession agreement will be for 10 years. The […]
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 […]