Shipwaves introduces reefer monitoring, E-wallet scheme for exporters to be implemented by Oct., US challenges India’s export subsidy programme at WTO & more insights.

India Market Watch

• GST Council has decided to implement national e-way bill system for intra-state movement of goods latest by June 1. Trial at state level has already started and every state has different dates to implement it.
  Tip: Shipwaves would like to advise all customers to start using e way bill system on trial basis . There are many challenges towards using this integrated system which can be rectified before 1st June
• W.E.F. 01/04/2018, customs has made it mandatory, through PN 33/2018, Dt. 07/03/2018, that all Bills of Lading for import shipments should have following details : Importer GSTIN , Importer’s IEC & importer’s e-mail ID used to communicate with customs and shipping line.
• Shipwaves introduces reefer temperature monitoring system, to help reduce damages for agriculture exporters. Shipwaves opens an office in Nashik to serve the agro exporters.
  Tip: Please contact us to help plan your reefer shipments.

Container Freight Pulse

• E-wallet scheme for exporters to be implemented by Oct.
  Sending a strong positive signal to the exporting community, the Goods and Services Tax (GST) Council on Saturday(10th March) decided to extend the available tax exemptions on the imported goods for further six months beyond March 31.Exporters presently availing various export promotion schemes can now continue to avail such exemptions on their imports upto October 1, by which time an e-wallet scheme is expected to be in place to continue the benefits in future. The e-wallet scheme is basically the creation of electronic e-wallets, which would be credited with notional or virtual currency by the Directorate General of Foreign Trade (DGFT).This virtual currency would be used by the exporters to make the payment of GST/IGST on the goods imported/procured by them so their funds are not blocked.
• US hikes anti-dumping duty three-fold on Indian shrimps, exporters in tizzy.
  The United States of America, the largest market for Indian seafood, has enhanced the anti-dumping duty on the shrimps to 2.34 per cent from 0.84 per cent putting exporters in a tizzy. “We preliminarily determine that sales to the United States have been made below normal value and, therefore, are subject to antidumping duties. If these preliminary results are adopted in the final results of this review, we will instruct US Customs and Border Protection (CBP) to assess antidumping duties on all appropriate entries. We invite all interested parties to comment on these preliminary results”, the DoC said. “When the final duty will be declared we will know the impact. This is preliminary determination of duty declared by the United States”, said Tara Patnaik chairman of Falcon Marine Exports Ltd.

Container Shipping Sailing

• SM Line Establishes East Indian Route.
  SM Line announced on February 2 that the shipping company would cooperate with global shipping companies such as Cosco and OOCL to launch an additional East Indian service. The new route was named ‘EI2’ (East coast India 2 service) and will start in the first week of March. As a result, SM Line will operate two East Indian routes, including the existing East India Service (EIN) service. Operators of the new route are Cosco, OOCL, Wan Hai, Inter Asia Line and Xpress Feeder among others which provide shipping services to major ports between Asia and East India by putting 4300TEU vessels into operation. SM Line operates its routes by purchasing holds from the shipping companies. The ports of call in the route are Shanghai, Ningbo, Hong Kong, Shekou, Singapore, Port Klang, Chennai (Madras), Kattupalli, Port Klang, Singapore and Shanghai in that order.
• CMA CGM — General Rate Restoration(GRR) — From India to West Africa
  CMA CGM informs its customers of the following General Rate Restoration:Effective April 1st, 2018 (B/L date): From India To West Africa ,All cargo dry, OOG and breakbulk
  USD 150/20′ — USD 300/40′

Shipping Infrastructure Roundup

• Shipwaves introduces reefer temperature monitoring system, to help reduce damages for agriculture exporters.
  India, which ranks 14 on the list of global exporters of agricultural products, fishery and forestry items, suffers around $14-billion loss annually due to the lack of effective cold chain management system. But now freight solution company Shipwaves claims to address the challenge faced by exporters with its specially-designed containers. Shipwaves has set up a 20-seater office in Nashik to assist the local exporters in maintaining the cold chain shipment from land to ocean and to the final destination. With the help of its chip-enabled containers fitted with refrigerator, the company can track and monitor the temperature inside the containers while the goods are in transit from Nashik to the Mumbai port and beyond when the cargo is on the high seas, said Athahar Mohammed, co founder, Shipwaves.
• Kolkata Port Trust mulls river terminal, economic zone on Ganga at
  Balagarh.
  In an effort to take advantage of the World Bank-aided ₹5,369-crore Jal Marg Vikash project to cater to the hinterland, the Kolkata Port Trust (KoPT) is planning to set up a terminal-cum- economic zone at Balagarh, approximately 40 km upstream of Ganga, in West Bengal. Under Jal Marg, the Inland Waterways Authority of India (IWAI) is developing an all weather fairway on Ganga from Varanasi to Haldia (dubbed as National Waterway-I) and, creating the requisite ancillaries including six terminals, economic zones, barge repairing facilities and others. The project which is under implementation aims to increase river cargo movement along the stretch from the existing 4.5 million tonne to 22 million tonne in 2022 and 45 mt by 2030.

Global Market Buzz

• Europe sails towards electrified shipping fleets.
  Since early 2015, a mid-sized car ferry, the MS Ampere, has been traversing the Sognefjord in western Norway from early morning to evening, seven days a week — without a whiff of smokestack exhaust or a decibel of engine roar. The 260-foot Ampere, which carries 120 cars and 360 passengers, is the one of world’s first modern, electric-powered commercial ships, with battery and motor technology almost identical to today’s plug-in electric cars, only on a much larger scale. Currently, Norway has just two fully operational electric-powered ferries. But 10 more will be christened this year, 60 by 2021, and by 2023 the country’s entire ferry fleet either will be all-electric or, for the longer routes, equipped with hybrid technology, experts say.
• US Challenges India’s export subsidy programme at WTO
  The US today challenged Indian export subsidies schemes at the World Trade Organisation, saying these programmes harm American workers by creating an “uneven” playing field, officials said.
  The US Trade Representative (USTR) argued that at least half a dozen Indian programmes provide financial benefits to Indian exporters, which allow them to sell their goods more cheaply to the detriment of American workers and manufacturers. These programs are: the Merchandise Exports from India Scheme; Export Oriented Units Scheme and sector specific schemes, including Electronics Hardware Technology Parks Scheme, Special Economic Zones, Export Promotion Capital Goods Scheme and Duty Free Imports for Exporters Programme.

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