GSTN portal ready for invoice uploading from July 24, Shipping schedules affected due to Monsoon & more weekly insights from Shipwaves

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What is happening this week?
India Market watch
- The LTTC was finalised by Indian Railways, Under LTTC, IR shall be assured of long-term freight revenue commitment from customers at pre-determined price escalation principle as the customer shall commit Minimum Guaranteed Gross Freight Revenue (MGGFR) for each year of the contract period at a minimum of 5% increase over the previous year.
Shipwaves advises all exporters to use this facility offered by Indian Railway for bulk movement.
- Cargo movement across states is down by 40–50% due to several issues raised by trade which needs to be clarified by the government on GST. EXIM business is down by 40%.
Shipwaves advises all customers to register their business under GST before the last date of 31st July. There will be a challenge for the refund on the exports executed after July 1st. Do contact Shipwaves for any support.
- Shipping schedules are badly affected at most of the major ports due to delays in vessel arrival primarily because of monsoon.
Shipwaves advises trade to expect delays and roll over of containers at ports. Please contact Shipwaves for committed space reservation.
Container Freight Rates Pulse
- Hamburg Süd will implement a General Rate Increase (GRI) effective 15th of August 2017 on the Asia to South America West Coast, Central America and Mexico Pacific Coast trade as follows:
US$ 750 per 20’ standard container
US$ 1,500 per 40’ standard and high cube container
US$ 1,050 per 40′ non-operated reefer container (NOR)
US$ 1,500 per 40’ reefer container
This GRI is applicable for all cargo on board vessels with ETD 15th of August 2017 onwards (based on Proforma date of departure).
Hamburg Sud, GRI Asia to South America West Coast, Central America and Mexico Pacific Coast
- GSTN portal to be ready for invoice uploading from July 24.Businesses can start uploading their sale and purchase invoices generated post-July 1 on the GSTN portal from July 24. Businesses can come forward and start uploading the invoices on a daily or weekly basis to avoid the month-end rush. Generating invoices for dealings above Rs 200 and keeping invoice records in serial number even if maintained manually, are pre-requisites for claiming input tax credit under the GST regime.
GSTN Portal To Be Ready For Invoice Uploading From July 24
Container Shipping Sailing
- Vizag port offers low cost, link to China. Officials at the Visakhapatnam Port have urged Nepali traders to make more use of the seaport in the Indian state of Andhra Pradesh citing the cost of ferrying goods from the port is lower. The port saw the departure of first cargo train to Nepal on June 6. Although the Visakhapatnam Port is located quite far away from Nepal, it offers lower sea freight costs, and freight forwarders do not have to pay various charges such as detention cost, demurrage cost and many other formal and informal charges, port officials said. Another advantage, according to officials, is low sea freight cost for movement of goods to and from ports in China.
Vizag Port Offers Low Cost, Link To China: Officials - Alphaliner is tipping Singapore’s Pacific International Lines (PIL) as the next candidate in container shipping’s current great wave of consolidation. The container analysts, noting that the eight carriers involved in the recent industry consolidation move operated between 300,000 and 700,000 Teu of vessel capacity. Only four independent mid-scale carriers still remain, each with a global capacity share of between 1.5% and 2.8% only.
PIL Tipped Next Box Consolidation Target
Shipping Infrastructure Roundup
- India and Bangladesh will run a container train on a pilot basis between Dhaka and Kolkata to assess the feasibility of extending the services on the commercial basis. According to sources in the Railways, a full rake of empty containers will go to Dhaka through the only broad-gauge connection through Gede(India)-Darshana(Bangladesh) border gates in West Bengal. Bangladesh will send the rake loaded with their export cargo.
India, Bangladesh To Pilot Freight Train Service In August - India’s long-running plan to upgrade and operate maritime facilities at Chabahar Port in Iran faces fresh delays after an initial bidding process to select a private operator for the project proved futile despite vigorous government efforts to spur interest. Authorities are now planning to re-tender the contract, which involves management, operation and maintenance services, after Essar Ports Ltd., one of the two pre-qualified Indian bidders, failed to fulfil security clearance requirements, leaving Adani Ports and Special Economic Zone as the sole bidder.
Chabahar Port Development Delayed
Global Market Buzz
- CMA CGM to Launch Unique Reefer Line Collaboration. CMA CGM Group has announced plans to combine its container shipping service with Seatrade Group’s specialised reefer transport in a new vessel sharing agreement scheduled for October 2017.Refrigerated goods such as fruits or meat will be transported to Northern Europe, the East Coast of the US, Central America, the Pacific Islands, Australia, New Zealand, Peru and the Caribbean on a weekly basis once the service is validated by authorities.
CMA CGM To Launch Unique Reefer Line Collaboration - The collapsible container could slash shipping costs. A new collapsible 20ft container, which is currently under development, promises to save operators both money and space both at the terminal and in the supply chain. Nav Landis’s ZBox claims to be able to take the place of empty containers, which take up around 25% of sea traffic, slashing both logistics and transportation costs. This is because five folded units can fit into the space occupied by a current standard container potentially reducing operating costs by up to 50% and CO emissions by up to 20%.
Collapsible Container Could Slash Shipping Costs
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