Shipping Trade and Transport News 27th October 2015

 

Company News

 

United Arab Shipping Company (UASC), one of the fastest-growing shipping lines in the industry, is reportedly in advanced negotiations with Korean yards for another US $1-billion order
Hapag Lloyd reaffirm its decision to launch its initial public offering this year.  Hapag Lloyd anticipate the market downturn to improve during the next two to three years

Vessel News

M.V. Archimedes
Two more bulk carriers were arrested in Singapore on Sunday, according to the latest records from the Supreme Court of Singapore.  Information indicates Archipelago Shipping's Greece-flagged Archimedes was the fifth bulk carrier to be arrested in the city state this month.

M.V.  Yong Sheng

China’s biggest shipping company intends to launch regular services through the Arctic Ocean to Europe, a spokeswoman said Tuesday, as global warming makes the route viable and Beijing steps up its northerly economic ambitions.

 

 

 

 

 

 

 

 

 

 

Port News

 

Port of Hong Kong

100 people were injured on Sunday when a ferry returning from Macau to Hong Kong collided with an unknown object, a police department official said. The injured were treated in five different hospitals in Hong Kong, though the nature and extent of injuries were not immediately known.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customs UCC Updates

 

Union Cusotms Code  Adoptoin of the Delegated Act (DA and publication of the final text of Implementing Act (IA)

Extract from the publication

DELEGATED ACT

Article 11 – Conditions for the acceptance of an application Earlier versions of the text gave recognition to economic operators who approached customs stating that they could no longer comply with the conditions of a previous decision, by removing the period during which a new authorisation could not be granted.

This recognition has now been removed so offering no acknowledgement to economic operators seeking to be voluntarily compliant. Article 24(4) 2nd sub-paragraph – More favourable treatment regarding risk assessment and control (AEO)

The text previously allowed traders granted AEO status the option, on agreement with customs, to have documentary and physical controls of goods carried out at an agreed location (as opposed to just at the port). The text is, though, not clear that agreement between the trader and customs authorities is still necessary.

Article 32 and Annex 22-01 – Determining the origin of goods
The Commission intends to introduce the existing guidelines on origin (which are formulated as a series of rules) into the Delegated Act, making them mandatory.
Imposition of binding list rules pre-empts the negotiations in the WTO to seek common list rules to apply in every signatory Country (Harmonisation Work Program).

The Commission’s approach provides less flexibility to address changing situations, such as technological development in products and production methods.
Full details are availabe on request.

EU Trade News

The European Central Bank finds the weak performance of the French economy surprising, its chief economist Peter Praet told AFP in an interview, urging Paris to press ahead with reforms.
 There are "no taboos" for the European Central Bank when it comes to finding ways to push up the chronically low level of inflation in the euro area, the ECB's chief economist Peter Praet told AFP in an interview.
Britain will lobby the European Union and its member states to stop taxing tampons and women's sanitary products as luxury items, rather than necessities, a junior finance minister promised on Monday.