International Shipping

Shipping is a vital industry and a responsible global citizen

Pictured: a large containership underway; Photo Credit – Maritime Filming UK from Pixabay

International shipping has been a major driver of sustained economic growth over the last sixty to seventy years. The ever-increasing efficiency of international shipping has helped to boost trade which has, in turn, brought prosperity to nations and has lifted literally billions of people out of dreadful poverty.

Ever-increasing efficiency and value for money

From time-to-time some commentators make wrongful...

https://shippingaustralia.com.au/shipping-is-a-vital-industry-and-a-responsible-global-citizen/

Global action: a flurry of new international clauses and contracts

Pictured: a generic image of containership; photo Mohamed Aly from Pixabay

A major meeting at BIMCO has produced numerous updates that will affect international shipping.

BIMCO is a global shipowner trade association known for its work on producing global contract clauses and documents for shipping. Following widespread industry consultation, a final draft of the new voyage charter party contract “GENCON” is expected next year and will be up for adoption in May 2021.

In the gas tanker trades,...

https://shippingaustralia.com.au/global-action-a-flurry-of-new-international-clauses-and-contracts/

Today is World Maritime Day 2020

Pictured: an artist’s impression of the Earth floating in space. “Shipping activities must be balanced with Safety of Life at Sea and the long-term health and diversity of the oceans. A major part of IMO’s role is to ensure that shipping continues to make its contribution to the global economy without upsetting nature’s delicate balance,” says IMO Secretary General, Kitack-Lim.
Graphic: PIRO4D from Pixabay.

Today, 24 September, is World Maritime Day.

Today is a day to think about the benefits...

https://shippingaustralia.com.au/wmd2020sustainableshipping/

U.S. Suspends Tax Exemption on Income from International Shipping

  • Donald Trump says that the Asian trading hub is no longer eligible for the continued preferential treatment.
  • This suspension of bilateral agreement is due to China’s imposition of strict national security laws over Hong Kong.
  • The bilateral agreement covers extradition and tax exemptions.

According to an ABC News report written by Matthew Lee AP, the Trump administration has suspended or terminated three bilateral agreements with Hong Kong covering extradition and tax exemptions.  This follows...

https://mfame.guru/u-s-suspends-tax-exemption-on-income-from-international-shipping/

Foodservice sector improves, manufacturers of plant-based substitutes look to expand globally

Reefer containers

Cold-chain and foodservice providers hope the recent uptick in business signals a turning point for the sector’s fortune. According to Steve Taylor, director of sales for food logistics at AIT Worldwide Logistics, foodservice business is currently down 40-50% — an improvement from a few months ago when it was off as much as 70%. 

“The advent of the phased reopenings and limited dine-in capacity, as well as the introduction of outdoor seating, is definitely an improvement for restaurants, as...

https://s29755.pcdn.co/news/foodservice-sector-improves-manufacturers-of-plant-based-substitutes-look-to-expand-globally

MSC announces its Carbon Neutral Programme

Pictured: an MSC container ship underway; photo by Mediterranean Shipping Company

Mediterranean Shipping Company (MSC) has announced a complete Carbon Neutral Programme. The company states that it is “the first shipping line” to offer customers such a programme.

MSC’s Carbon Neutral Programme helps to enable carbon neutral supply chains by minimising, calculating and offsetting C02 emissions to meet customer demand.

As the company notes in a statement, “despite all the efforts to invest in...

https://shippingaustralia.com.au/msc-announces-its-carbon-neutral-programme/

International shipping holds promise for retailers post-COVID-19

International shipping holds promise for retailers post-COVID-19 (Photo: Jim Allen/FreightWaves)

As the pandemic continues to wreak havoc across global economies, U.S. retailers with a global footprint have felt the pinch, with demand for products continuing to fluctuate. Logistics services have also been affected, with freight forwarders like the U.S. Postal Service (USPS) stopping delivery services across more than 100 international markets. 

Thousands of businesses that depended on USPS for its international deliveries were left stranded, as they rushed to find alternatives for pushing...

https://s29755.pcdn.co/news/international-shipping-holds-promise-for-retailers-post-covid-19

BIMCO Focuses on Ship Innovations in Asia As Likely Finance Scenes

Today, the Asian shipowners represent almost half of the world fleet with great potential. The Asian trade, fleet, seafarers and financing capital are now all very important
elements of the international shipping industry, writes Wayne Wei Zhuang, BIMCO’s Regional Manager of Asia while discussing about the future of Asia’s ship financing scene in an article published in the BIMCO website.

Technology and regulation are clearly the drivers for the future shipping industry. And, to be honest, Asia...

http://mfame.guru/bimco-focuses-on-ship-innovations-in-asia-as-likely-finance-scenes/

[FAQ] Guidelines To Protect Ship & Crew from 2020 Fuel Hazard

It seems inconceivable, certainly unbelievable, that having paid up to millions of dollars for
fuel for a vessel to operate, the owners of the vessel and/or the charterers then should have to check themselves that the fuel is actually of a standard that complies with regulations and what they paid for! says a press release published by the American Club which guides shippers from IMO 2020 Fuel Hazards.

The guidance available on the American Club website highlights how the whole concept seems...

http://mfame.guru/faq-guidelines-to-protect-ship-crew-from-2020-fuel-hazard/

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