GST return form seeks to provide relief to exporters, JNPT port might reduce free times at port for export containers & more shipping insights from Shipwaves.
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India Market Watch
- More than one month back, Felixstowe port introduced a new port system due to which there were significant problems about the delays at the port with shipping lines cancelling calls or operating on a cut-and-run without booked containers loaded or discharged. Similar situation persists at other UK ports where vessels are being diverted causing additional cost and disruption.
With more shipping lines cancelling their call from Nhava Sheva to Felixstowe, Shipwaves would like to advise our customers to look into the possibility of using other European ports like Rotterdam for their cargo transshipment to UK.
- Jawaharlal Nehru Custom House (JNCH) has introduced a Priority Assessment and Priority Examination for Authorised Economic Operator (AEO) and Direct Port Delivery (DPD) Clients. JNCH has taken additional steps to operationalise the introduction of Priority Assessment and Priority Examination through electronic mode for AEO and DPD importers by launching “online module” on DPD JNCH website.
Shipwaves would like to advise all Exporters/Importers to use this facility. For further click here.
- JNPT port is discussing towards reducing free times at port for all export containers arriving from various inland container depots (ICDs). At present seven days are free days from the time of arrival at port. Now, it is under discussion to reduce it to six days or even more after an assessment.
Shipwaves will closely follow this change and advise our customers. If implemented, it will bring substantial ground rent charges for ICD customers.
Container Freight Pulse
- In the fast lane? New draft GST return form seeks to provide relief to exporters
The export community has consistently faced issues with GST and to make life easier, the Government has proposed simplification in the new return filing process. The entire return filing process is supposed to undergo a change with only one monthly return for taxpayers. Return filing dates will also be staggered based on the turnover of the taxpayer which will be calculated based on the reported turnover in the last year, which is 2017–18, annualised for the full year. It will be possible for the taxpayer to check on the common portal whether he falls in the category of a small taxpayer and a newly registered taxpayer will be classified on the basis of self- declaration of the estimated turnover. The due date for filing of return by a large tax payer shall be 20th of the next month.
- India defers imposing higher duty on US food imports post-negotiations
India has decided to defer the imposition of higher duty on food imported from the United States, giving Indian food importers much-needed relief. The higher duties were supposed to be initiated from August 4, 2018, but sources stated that negotiations between the two countries led to the deferment of the tariffs. Traders from both the countries were hoping for a breakthrough, and it was proposed that food products not be included in the demerit list, which is likely to adversely affect the trade in nuts and dried fruits between the two countries.
Container Shipping Sailing
- India contains cargo diversion to foreign ports for trans-shipment
Credit rating agency ICRA has said that the government move to relax cabotage restrictions will create a level-playing field for foreign-flagged ships and is a long-term positive for ports. Government’s relaxing of norms for trans-shipment has not only helped India arrest a sizeable chunk of its container cargo going to ports like Colombo, Singapore and Jebel Ali but also forced a few foreign ports to cut rates. India has been trying hard to arrest diversion of container cargo to trans-shipment hubs at foreign ports.
- Hapag-Lloyd, Rate restoration program
Hapag-Lloyd, Rate restoration program
We would like to inform you that with effect from September 1, 2018 Hapag-Lloyd will increase rates for all cargoes and all container types from East Asia (excluding Japan) to Red Sea ports and Indian Subcontinent by:
USD 400 per TEU and
USD 50 per TEU respectively.
Shipping Infrastructure Roundup
- 800-km stretch of dedicated freight corridor to be opened this year
Almost 800 km of the Dedicated Rail Freight Corridor is set to open this fiscal year, with the remaining stretch of 1,500 km to be commissioned next year. Against its earlier plan to open the entire network at one go, the Railways has now decided to open it in phases. The first phase of about 200 km — between Ateli (in Haryana’s Mahendragarh district) and Phulera (near Jaipur) — will be opened later this month.
- Private firms to maintain logistics hubs at Varanasi, Haldia for 30 years: Inland Waterways Authority
Inland Waterways Authority of India (IWAI) will soon allow private players to “operate and maintain” three of its multimodal logistics hub on National Waterways-1 (NW1) on revenue sharing basis. “For multimodal terminals, at Varanasi (Uttar Pradesh), Sahibganj (Jharkhand) and Haldia (West Bengal), we are doing request for qualifications (RFQs) to engage private shipping and logistics operators for a period of 30 years on a royalty or revenue sharing basis,” Pravir Pandey, chairman, IWAI told. “For Varanasi, we have started the procedure. The tender process has started and should be final by November… For Sahibganj, the tender process will start in October or November,” the chairman said, adding, “For Haldia, it would be later in May or June next year”.
Global Market Buzz
- Maersk Line to restart operations in Maldives
Maersk Line announced that the company has restarted its shipping operations to the Republic of Maldives on the heels of rapidly growing market and meeting customer needs. The world’s largest container shipping company introduced a weekly service between Colombo and Male offering better connectivity through their best-in-class network. The initiative also aims to provide a strategic trade opportunity to all the countries in South Asia.
- Norway signs off on world’s first autonomous container ship
The Norwegian fertiliser giant Yara on Wednesday (15th August) signed off on the world’s first electric and self-propelled container ship — the so-called Tesla of the seas — in a landmark in the development of autonomous shipping. The vessel is expected to start operations in 2020. Norwegian Prime Minister Erna Solberg was present for the signing of the 250m NOK contract to build the Yara Birkeland with Norwegian shipbuilding group Vard. “A vessel like Yara Birkeland has never been built before, and we rely on teaming up with partners with an entrepreneurial mindset and cutting edge expertise,” said Svein Tore Holsether, President and CEO of Yara.
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Shipwaves wishes you EID MUBARAK