Chinese exports pull back again, hampering post-Covid recovery
HONG KONG—The export engine that propelled China’s recovery through much of the pandemic sputtered to start the year, complicating Beijing’s efforts to juice an economy that is still reeling from three years of stringent “zero-Covid” restrictions.
Exports from the world’s second largest economy fell 6.8% during the first two months of 2023 from a year earlier, extending a string of year-over-year declines stretching back to October, data from China’s customs bureau showed Tuesday.
The Wall Street Journal
Port leaders are concerned as new OSRA regulations approach
As the Federal Maritime Commission weighs demurrage and detention reform, port executives from across the country expressed concerns that new regulations could lead to capacity issues at facilities.
Shippers sounded the alarm on skyrocketing demurrage costs during the pandemic, and some cargo owners said they were being hit with fees even when they couldn’t pick up containers due to overwhelming congestion.
Supply Chain Dive
New Brexit trading rules could take more than two years to fully implement
The new Brexit trading arrangements in Rishi Sunak’s revised Northern Ireland protocol could take more than two years to be fully implemented, government sources have confirmed.
The Guardian reports that businesses in Northern Ireland say they expect a mass educational campaign to be launched across the country by His Majesty's Revenue and Customs (HMRC) and other government departments to help them put the deal announced in Windsor February 27 into operation if it is approved by parliament.
But with legislation required to bring the Windsor framework into force, the first of the new measures could take months to become operational.
Supply Chain Brain
UAE-Turkey non-oil trade to reach $40 billion in five years with new CEPA agreement
Abu Dhabi: The United Arab Emirates and Turkey signed the Comprehensive Economic Partnership Agreement (CEPA) on Friday.
During a virtual summit, President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Recep Tayyip Erdogan, President of the Republic of Turkey, witnessed the signing.
“The signing of the CEPA reflects the significant development witnessed in bilateral relations in recent years,” commented President Sheikh Mohammad. The total non-oil trade between the UAE and Turkey reached $19 billion in 2022, an increase of 40 per cent compared to 2021 and 112 per cent compared to 2020. This makes Turkey the fastest-growing among the UAE’s top 10 trading partners.
Gulf News
Dubai suspends new customs duty on international goods above Dh300
Dubai has decided to suspend a new customs duty on goods bought internationally with a value of more than Dh300.
In an email sent out by Dubai Customs, it has been announced that the previous threshold of Dh1,000 for exemption of parcels and shipments has been reinstated effective of March 1.
The message read “Kindly be informed that Paragraph (a) of Article (2) of Customs Notice 5/2022 related to exemption of consignments with value not exceeding AED 300/- has been suspended, and that it is has been decided to re-establish the previous threshold for exemption of parcels/shipments of AED 1,000/- effective 01-March-2023 until further notice.”
Khaleej Times
U.S. Deputy Secretary Graves travels to Belgium and Croatia, addresses importance of U.S.-EU Strategic Economic Alliance
Last week, U.S. Commerce Deputy Secretary Don Graves traveled to Brussels, Belgium and met with European Commission President Ursula von der Leyen. They discussed the close cooperation between the European Union and the United States on export controls to counter Russia’s war on Ukraine, the continued need for enforcement coordination, as well as European energy security.
Deputy Secretary Graves’ meeting with President von der Leyen followed a series of meetings the Deputy Secretary had with a range of Commission leaders, including Michael Hager, Bjoern Seibert, Sabine Weyand, David O’Sullivan, and Thomas Gerassimos.
AJOT
Port of Rotterdam participates in Dutch green hydrogen consortium
The consortium De Nederlandse Waterstof Delta (The Dutch Hydrogen Delta) has proposed a plan to MPs Bontenbal (CDA), Boucke (D66), and Erkens (VVD) to start the electrolyser manufacturing industry in the Netherlands and thus accelerate the hydrogen economy.
The consortium De Nederlandse Waterstof Delta is consisted of Battolyser Systems, Port of Rotterdam Authority, Platform Zero, Didak, Agfa Gevaert, Madern International, VSPARTICLE, Demcon, Delft University of Technology, Techniek College Rotterdam, Hogeschool Rotterdam and InnovationQuarter.
Container News
NYK to sell air freight division
Japanese shipping line Nippon Yusen Kaisha (NYK) has agreed to sell its air cargo transportation business to compatriot airline All Nippon Airways (ANA). One of the largest shipowners in Japan has sealed a memorandum of understanding that will see ANA acquire all shares in freighter operator Nippon Cargo Airlines (NCA), with the transaction expected to close by October 1 this year.
At a time when rivals such as MSC, Maersk and CMA CGM are in the early stages of setting up aviation divisions, NYK, which has had a long history in air cargo, explained the ongoing cost of running the cargo airline as the reasoning behind the sale.
Splash 24/7
Port of London Authority proceeds with decarbonization
The Port of London Authority (PLA), which supervises the secure running of the UK's largest port, has pledged to achieve Net Zero emissions by 2040, if not sooner.
Last year's performance resulted in a 50% reduction in carbon emissions three years earlier than the initial 2025 goal.
As an interim measure, the introduction of sustainable biofuel in lieu of gasoline in its fleet of vessels was a critical first move in boosting performance.
Container News
