INTERNATIONAL TRADE

Where live entertainment meets customs compliance

LOUISVILLE, Ky. — On Tuesday, the master of ceremonies will use a pair of bejeweled microphones on stage at a major awards ceremony in London after logistics company Rock-it Cargo hand-carried them from New York with the help of the first electronic “passport for goods” ever issued in the United States.

The delivery kicks off the test phase of electronic ATA Carnet processing by the U.S. Council for International Business (USCIB), in collaboration with U.S. Customs and Border Protection and...

https://www.freightwaves.com/news/where-live-entertainment-meets-customs-compliance

International businesses: selling low value goods to the land down under? You may need to register for GST

Graphic: shipments into Australia may attract GST. Graphic credit: Australian Taxation Office.

By the Australian Taxation Office

International businesses may need to register and pay Australian goods and service tax (GST) if their GST turnover from sales connected with Australia is A$75,000 or more in a 12-month period.

Whether you are a business that is selling the latest sporting equipment, an online fashion retailer who supplies personalised jumpers, or even a large business that sells top...

https://www.shippingaustralia.com.au/international-businesses-selling-low-value-goods-to-the-land-down-under-you-may-need-to-register-for-gst/

International Firms Banking On Robust Export Growth From China

Credit: Rosy Ko/Unsplash

Gu Xueming, a top Chinese trade analyst, says that rather than being indicators of a decline in global commerce, the accumulation of empty containers at Chinese ports and decreasing ocean shipping prices should be viewed as positive signs, as reported by Xinde Marine.

Exports increased 

Gu, who is the director of the Chinese Academy of International Trade and Economic Cooperation (CAITEC), a think tank connected to the Ministry of Commerce, stated that 2023 will be a...

https://mfame.guru/international-firms-banking-on-robust-export-growth-from-china/

Shippers Navigate A Troubled Market!

Credit: rinson-chory-2vPGGOU-unsplash
  • As the year closed, most commentators were forecasting a return to barely profitable shipping rates.
  • The decline in global economic activity following the interest rate hikes by central banks caused the collapse of spot rates. 
  • Shipping is significantly lagging behind every other industrial sector in its commitment to the Paris Agreement goals of net-zero carbon emissions by 2050. 

If you read the international shipping media during the final quarter of...

https://mfame.guru/shippers-navigate-a-troubled-market/

Shipping Australia supports Svitzer Australia in its efforts to resolve industrial dispute

Pictured: a Svitzer tug carrying out towage work. Picture credit: Svitzer Australia.

Shipping Australia notes the ongoing industrial relations difficulties on the Australian waterfront.
With 1-in-5 jobs supported by global trade, over 99.9% of all physical goods and commodities moved by sea, and just under 46% of our GDP dependent on international trade, continued smooth operations on the waterfront are vital to the economic wellbeing of all Australians, no matter how far they live from the sea.

S...

https://www.shippingaustralia.com.au/shipping-australia-supports-svitzer-australia-in-its-efforts-to-resolve-industrial-dispute/

Air cargo peak season evaporates on low demand, high capacity

A container on a hydraulic lift being loaded through side door of a plane on a bright day.

It’s the time of year when retailers typically make their final push to ship goods from abroad in time for holiday shopping and freight rates are highest, but so far signs of peak season in air cargo are difficult to find. Instead, rates continue to slide as global economic clouds dampen demand and airlift supply rises with the recovery of passenger travel.

Air freight spot rates tumbled 9% year over year in September to below the 2021 level for the first time this year, Xeneta, an ocean and air...

https://www.freightwaves.com/news/air-cargo-peak-season-evaporates-on-low-demand-high-capacity

FreightWaves SONAR data revealed global recession months before FedEx’s earnings

A container ship stacked with containers

In a note last Friday, September 16, J.P. Morgan reminded us that back in June it warned about a concerning drop in container volume out of China, based on FreightWaves SONAR Container Atlas data. 

Part of the J.P. Morgan note.

The firm titled its June 3 report “Watching the China Freight Wave,” which covered the slowdown in container markets and forewarned about a slowing U.S. domestic freight market.  

Using the same data, on June 7, FreightWaves wrote an article titled “U.S. import demand is...

https://www.freightwaves.com/news/freightwaves-sonar-data-revealed-global-recession-months-before-fedexs-earnings

Manual data entry is a waste of time, effort, and money that wrecks Australia’s ability to compete

A small container feeder vessel gets underway. Photo supplied by PwC.

By Cam Tran, Senior Manager – Global Trade, and Crystal Paris, Associate Global Trade & Taxes, both of PwC

Australian freight volumes are projected to grow by over 35 per cent by 2040[1], and yet Australian freight data systems cannot easily exchange information due to lack of adoption of relevant standards. Our freight community is suffering because so much time and effort is wasted on manually entering and re-entering data...

https://www.shippingaustralia.com.au/manual-data-entry-is-a-waste-of-time-effort-and-money-that-wrecks-australias-ability-to-compete/

Air cargo market risks downturn as export orders contract

A pallet of cargo being loaded from a hoist into the upper deck of a plane as viewed from the side of plane over the wing.

The two-year bull market for air cargo could be headed for a downturn. Freight volumes moved by passenger and cargo airlines contracted in March and April as manufacturing and supply chains faltered in the face of war and COVID headwinds, according to figures from a major airline trade group and independent analysts.

The International Air Transport Association said Tuesday air freight demand in March fell 5.2% year-over-year and that seasonally adjusted volumes reached a 16-month low. On...

https://www.freightwaves.com/news/air-cargo-market-risks-downturn-as-export-orders-contract

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