The Drewry World Container Index (WCI) has remained stable over the past few weeks, but has experienced a drop of 40% when compared to the same period last year and is now 3% less than average 2019 (pre-pandemic) rates of $1,420. The average composite index for...
A founding member of the IMO and continuous member for over 50 years, Australia has been re-elected to the IMO council. According to Catherine King (Federal Minister for Infrastructure and Transport) Australia's reappointment to the IMO Council fortifies the nation's commitment to a sustainable and secure...
The Customs Brokers and Freight Forwarders Federation of New Zealand (CBAFF) is on the cusp of launching a new tool designed to enhance air cargo compliance and security. Developed by CBAFF, aviation industry software platform OneReg and biosecurity system experts Independent Verification Services, AirCertify NZ aims to help...
The British Parliament has confirmed that there will not be a second increase in alcohol duty tax this year by announcing a freeze until August 2024. This announcement has been welcomed by wine and spirit businesses across the UK, which have strongly protested against a second...
Over the past few years, approximately 3600 different Australian wines have entered the Thai market, all of which have had to undergo onerous testing for a wide range of substances. However the Federal Government has recently announced a simpler process for Australian wine producers exporting into...
DP World is increasing landside fees as of 1st January 2024 across its four Australian terminals: Sydney, Melbourne, Brisbane and Fremantle. The increases to terminal access charges (as per the DP World notice, current as at this day of publication) are outlined below: Full export containers have...
Ongoing drought conditions at the Panama Canal continue to significantly hamper operational throughput on various fronts. This year saw 41% less rain than usual, resulting in unprecedented low levels across Gatun Lake, and with less than two months remaining until the completion of rainy season, this presents...
The European Parliament has approved the European Union's free trade agreement with New Zealand (NZ), which may come into effect in early 2024. This agreement will remove 140 million euros ($A233 million) of annual tariffs on EU exports such as clothing, chemicals, pharmaceuticals and cars, as...
VICT has announced that landside charges pertaining to the vehicle booking system (VBS) and import storage will increase as of 1st January 2024. According to VICT these fee increases are attributable to the combination of rising business costs which are a result of inflation, energy expenses,...
As per the notification in our September newsletter, Europe has officially sanctioned the ETS system and surcharges will commence as of 1st January 2024. The EU Emissions Trading System (EU ETS) is the European Union's strategy to tackle climate change by limiting and charging for greenhouse...