On 14 May 2024, the Federal Treasurer Jim Chalmers delivered the 2024-25 Federal Budget for 2024-25. Outlined below is a high-level summation of the announcements relevant to trade, biosecurity, infrastructure and logistics: Trade Removal of 'nuisance tariffs' The Budget confirmed the earlier announcement by Government that it will...
This month saw our Commercial Manager Mariam Kassir attend the annual Europe-Asia Alliance Global Meeting in Porto, Portugal. An insightful and informative event, where many old and new contacts were revisited and made, we'd like to express our gratitude to the EAA for having us...
Due to ongoing geographic volatility, Singapore Airlines Group has ceased flying through Iranian airspace as of April 2024 as a precautionary measure. Moving forward they will utilise alternative flight paths, which may lengthen the duration of some flights. In addition, Singapore Airlines Australia & New Zealand...
The first quarter of 2024 has seen the air cargo market experience an overall growth in tonnage by more than 10% when compared to the same period last year, particularly across the Asia-Europe and Asia-North America east coast trade routes. This growth is the result of...
The collapse of the Middle East peace talks has seen China's container shipping futures rally, with interest up 15% from the previous week, potentially indicating shippers belief that rates will stay elevated. In addition, Linerlytica's latest report revealed that spot market rates have risen by almost...
The latest Drewry World Container Index (WCI) decreased by 3% to US$2719 per 40-foot container this week, which is 91% higher than average 2019 (pre-pandemic) rates of US$1420. The average composite index for the year to date is US$3295 per 40-foot container, which is $586 higher...
Terminals across the globe appear to be operating in a timely manner, with only minor delays being experienced. North East Asia: Qingdao has a minimal one-day delay, whilst both Ningbo and Shanghai have a delay of one to 1.5 days. South East Asia: Singapore is...
Terminals across Australia are operating in adherence to schedules, with only minor delays being experienced in certain locations: Patrick Terminals are experiencing minimal delays of 0.5 days in Brisbane and Melbourne, with an average one-day delay in Sydney and two days in Melbourne. DP World...
New Zealand Customs Service and Singapore Customs, in conjunction with Singapore's Infocomm Media Development Authority (IMDA) have signed an arrangement that will deliver a simpler and more streamlined trade process for exporters. Leveraging emerging technology such as blockchain to digitalise border processes will see the simultaneous...
As of the new financial year (1 July 2024), there will be an increase to the regulatory fees and charges for biosecurity and imported food regulatory activities by The Department of Agriculture, Fisheries and Forestry. Simply click here for a full list of all relevant fees...