The first six months of 2023 has seen Australian wine exports into Hong Kong increase by 34.9%, reaching HK$799.19 million in value and over 20% market share in Hong Kong’s imported wine market, in comparison to the same time last year. This market growth is significant...
With the recent removal of tariffs on Australian hay and barley, hopes are growing for an easing of wine tariffs, which have been in place since 2021. With an upcoming trip to China scheduled for Australia’s Prime Minister Anthony Albanese and recent business dialogue between the...
Europe has officially sanctioned the ETS system, which will require shipping organisations to pay a surcharge on greenhouse gas (GGH) emissions. These funds will be directed into the maritime sector in order to fund its transition to alternative energy sources via the EU Innovation Fund. The...
The Australian Government has launched Infrastructure Net Zero: a public-private decarbonisation initiative. Consisting of seven peak bodies and three federal agencies, this initiative aims to provide direction on a plan addressing issues across infrastructure sub-sectors with a focus on supply chain capability to not only explore...
The Australian Government recently launched its trade strategy for South-East Asia. This strategy highlights both the fact that Australia’s current trade and investment in this region is underdone and that there are significant prospects for Australian businesses to expand in these markets. The current level of...
The Drewry World Container Index (WCI) saw a decrease by 5.2% to US$1479.48 per 40-foot container throughout September, dropping by 66.9% when compared to the same period last year and sitting 86% below the peak of US$10,377 reached in September 2021. The WCI is 45% lower...
Whilst businesses may reap the benefits of lower rates, they may also experience a decrease in service levels and vessel schedule reliability as shipping lines adopt measures such as blank sailings and cancelled services in a bid to manage excess capacity. With capacity anticipated to increase...
Excess capacity and weak US import demand has seen freight rates across the Trans-Atlantic fall below pre-pandemic levels, with the spot rate down 57% from the same period in 2019. According to PIERS, total containerised imports from Asia tumbled 21% year over year through August in...
Due to ongoing drought and low water levels, authorities have announced that the Panama Canal has further reduced the maximum number of ships travelling the waterway to 31 per day, (down from a daily limit of 35 during normal conditions), as well decreasing the allowable...
With increasing restrictions due to a lack of dollars in Argentina's Central Bank Reserve, the Government had initiated implementation of SIRASE (Com A7771), which is a specific authorisation for the payments of services abroad for foreign trade services such as freight, storage and other services. However,...