Global Investigations Review’s Post

The impact of the ongoing crisis around the #RedSea #shipping route, which accounts for 50 per cent of the country's e#xports and 30 per cent of #imports last fiscal, will vary depending on the industry, according to a report.

Russia may cancel gasoline export ban in September The Russian government introduced the temporary ban on gasoline exports from March 1 of this year MOSCOW, May 6/ Russian authorities may cancel the currently effective ban on gasoline exports as early as in September 2024, experts questioned by TASS said. The country is entering the high season of fuel consumption now so it will not be reasonable to cancel the ban in the coming month because gasoline will almost entirely go to the internal market, InfoTEK expert Alexander Frolov noted. The ban is expected to be canceled "by the end of the high season, that is, sometime in August, probably in September," he said. The ban is likely to be canceled exactly at that time, deputy chairman of the supervisory board of the Reliable Partner Association Dmitry Gusev noted. "The ban will be most probably canceled. The high season [in August - September] will end, consumption will decline. Gasoline will therefore be needed to be disposed somehow," the expert noted. The Russian government introduced the temporary ban on gasoline exports from March 1 of this year. #business #finance #financialservices

Quite interesting that the four-year review of #tariffs on China from the Office of the U.S. Trade Representative includes an increase of 25% on ship-to-shore cranes. The Administration seems quite determined to ensure that imports can't outprice domestic producers on a wide array of items that have received subsidies from the Inflation Reduction Act and the Infrastructure Investment and Jobs Act. Open question as to how much this tariff will impact sourcing decisions at US #ports and if the 25% levy is enough to offset the higher costs of US-produced STS cranes.

Exporters Must Protest Against DGFT's latest Public Notice regarding RoDTEP ⚠️ Attention Exporters, The Director General of Foreign Trade has introduced a new requirement under Para 4.94 of the Handbook of Procedures 2023, mandating the filing of an Annual RODTEP Return (ARR). This policy, effective immediately, imposes significant burdens on exporters, including: 1️⃣Mandatory ARR Filing: Exporters with RoDTEP claims exceeding ₹1 crore must file by March 31st of the following financial year. 2️⃣Penalties for Non-Compliance: Failure to file will result in denial of benefits and additional fees for delayed submissions. 3️⃣Record Maintenance: Exporters must maintain records for five years, subject to scrutiny and potential rate revisions. This notice contradicts the government’s own schedule of rates and imposes unnecessary verification of paid duties on materials used in exported products. Such measures are impractical and unfair, creating confusion and additional costs for exporters. We urge all exporters to unite and protest against this public notice. It is crucial to ensure that trade policies are clear, fair, and supportive of the export community. Let’s stand together to demand a review and revision of this notice for the benefit of all.

FDI News: Dramatic lift in manufacturing beef prices – have the much-anticipated US export ‘boom times’ started? 🌟 Discover the latest in the world of FDI and Business! Check out this insightful piece. 💡🌍 It’s taken at least six months longer than what many had expected, but demand for Australian lean beef trimmings in the United States is now really starting to take off, as US domestic rates of slaughter continue to wilt...Read More 🔗 [Learn more: https://lnkd.in/eg6Sg5Di] Join as a Partner and Professional: FDI Alliance: www.fdialliance.com #FDI #Invest #Trade

🛳Coaster freight rates for transportation from Ukraine continue to rise – ASAP Agri The market remains active, with fresh grain cargo orders coming from both POC and Ukrainian Danube ports. A shortage of coaster vessels persists, allowing owners to dictate terms and push for higher rates. Meanwhile, Handysize tonnage availability appears sufficient to meet current cargo volumes, keeping corresponding freight rates stable. Freight rates 👉 https://lnkd.in/dg7u4sqU

❗ ❗ Exporters, importers cry foul over hike in shipping charges "Shipping companies have raised terminal handling charges by 10% this month, exacerbating the challenges faced by traders amidst escalating tensions in the Red Sea. The Vietnam Shippers Council, representing exporters and importers, formally expressed their concerns in a letter to the transport and finance ministries and other relevant government agencies. Foreign shipping companies, holding a virtual monopoly in Vietnamese trade, have historically increased charges independently, with fees often significantly surpassing those paid to port operators. This month, terminal handling charges for a 40-foot container surged from $180-190 to $200-210, accompanied by an additional 10 fees ranging from $9 to $100 per container. Notably, this increase is exclusive to Vietnam, drawing ire from traders who believe foreign shipping firms are capitalizing on the Red Sea tensions. While shipping firms attribute the rise to longer routes necessitated by the tensions, the Vietnam Shippers' Council is calling for authorities to enforce transparency and potential taxation on windfall profits from these hikes." Source: VNExpress Read more: https://lnkd.in/gitamgpJ

🌍 Quick Tip for International Traders 🌐 Did you know that the Country of Origin and Country of Export are NOT the same? 🤔 ✅ Country of Origin: Where your product was made. ✅ Country of Export: Where your product is shipped from. Mixing these up could land you in hot water, facing an AMPS penalty for incorrect tariff treatment. Always double-check your documentation to ensure compliance and smooth trading! #InternationalTrade #Compliance #TradeTips #Logistics

Did you know the US imports 1.1 million metric tons of beef? And then exports 1.3 million metric tons of beef? If we assume all beef is transported on a Panamax container ships with an average trip of 12,500 nautical miles we find that 1.64 million gallons of fuel are used per 50,000 metric ton load size. This equates to almost 80 million gallons of fuel per year. For sea transport only. To import and export the same product... We can do better. P.S. Its not exactly the "same" product. Thanks to the corn industry the US produces fat heavy cows, while most other countries produce lean cows on grazed land. In the US, we blend these two products and call it ground beef. P.P.S If you care to check my math...Panamax container ships burn 63,000 gallons of gas per day, averaging 480 nautical miles. They can carry 52,500 tons per load (I generously assumed 50,000 was beef).

Attacks on commercial vessels 🛳 in the Red Sea are putting pressure on shipping companies who are having to consider alternative routes to prevent the conflict. This is causing prices to skyrocket and generating uncertainty regarding the movement of fresh produce around the world. To find out more about this ongoing conflict, read our latest article on the link 👉