Category Archives: Freight News

Ocean Network Express (ONE) announced that it has received Approval in Principle (AiP) for a vessel equipped with Ammonia Dual-fuel technology.

This achievement, combined with ONE’s investment in 12 methanol dual-fueled vessels, represents a significant stride in ONE’s commitment to achieving net-zero emissions by 2050, according to the company’s statement.

The newly AiP-awarded 3,500 TEU vessel is the result of collaborative efforts between ONE, Nihon Shipyard (NSY), and the classification society DNV. This collaboration was initiated as part of a joint development project established in late 2022.

“Ammonia is one of the primary focuses of our research as ammonia fuel has a great potential of generating lower GHG emissions than conventional marine fuels. We are pleased to have made such progress, and we will continue our study on ammonia,” said Koshiro Wake, senior vice president of the Corporate Strategy & Sustainability Department at ONE.

In pursuit of its goal for net-zero emissions by 2050, ONE has been actively exploring the feasibility of ammonia as an alternative fuel by the roadmap for alternative fuels developed by ONE in 2022. As part of this roadmap, ONE has also participated in a bunkering pilot safety study led by GCMD (Global Centre for Maritime Decarbonisation).

“Ammonia is one of the promising future marine fuels with great potential to decarbonize shipping. We are confident that DNV’s rules for ammonia will help our customers to safely adopt this new fuel type once the infrastructure is in place. We are grateful to our JDP partners for entrusting us with this pioneering project that will help the entire maritime industry to adopt ammonia as a marine fuel,” commented Cristina Saenz de Santa Maria, regional manager of South East Asia, Pacific & India, Maritime at DNV.

The ONE Green Strategy has established an ambitious goal to attain Net-Zero greenhouse gas (GHG) emissions, covering Scope 2 and 3, by the year 2050. A fundamental component of ONE’s green initiatives involves transitioning from conventional fuels to alternative fuels. In pursuit of this target, ONE said it will persist in researching and studying various alternative fuels on its journey to achieving net-zero emissions by 2050.

Source: Container News

As of 1 January 2024, imports of industrial products to Switzerland are exempt from customs duties. This will result in direct tariff savings and less administrative work for Swiss importers and lower prices for consumers. The total welfare gain for Switzerland is estimated at over CHF 860 million.

Since 1 January this year, Switzerland is no longer charging import duties on industrial goods of any origin. Building on a decade of groundwork, this is a significant trade policy measure with an estimated total welfare gain of over CHF 860 million a year for the Swiss economy.

Lifting industrial tariffs improves Switzerland’s standing as a business and industrial hub by easing the financial and administrative burden on both companies and consumers. It makes it easier for Swiss industry to procure competitive inputs and to diversify. In turn, this will raise Swiss companies’ productivity at home and abroad, increase their competitive standing and streamline trade relations overall.

Tariffs lifted on consumer goods and manufacturing inputs

Industrial products in Switzerland cover intermediate inputs for manufacturing processes, such as capital goods, raw materials, salt, semi-finished products and machinery, as well as consumer goods, such as bicycles, household appliances, clothing and shoes. However, agricultural products (including live animals and plants, foodstuffs and luxury foods, processed agricultural products, seeds and animal feed) and fishery products are not classified as industrial products. Customs duties will therefore still apply when importing agricultural products to Switzerland.

Reduced administrative burden for companies

Alongside the removal of industrial tariffs, a number of changes have also been made to simplify Swiss customs tariffs and the rules on proof of origin, which will help to reduce the administrative burden on Swiss companies. In a competitive environment, consumers also stand to benefit from the cost savings. The federal government will review the impact on the prices of the products concerned in a monitoring programme.

The removal of industrial tariffs does not change the customs clearance process itself: importers are still required to make an import declaration and pay other fees and charges incurred on import, including VAT.

The decision to abolish industrial tariffs was taken by Parliament on 1 October 2021 by amending the Customs Tariff Act. At its meeting on 2 February 2022, the Federal Council scheduled the measure to come into effect on 1 January 2024. By removing customs barriers, Switzerland – as a small, highly integrated economy – is sending a clear signal in favour of maintaining and expanding unhindered trade flows in an increasingly protectionist global trading environment.

Source: Container News

The agriculture sector and traders have expressed their high optimism about rice exports this year given high prices and stable markets, helping the grain remain a big foreign currency earner.

Rice exports in 2024 could stay high thanks to such markets as the Philippines, Indonesia, Africa, and Ghana. In particular, Indonesia is a relatively potential market when its State Logistics Agency (Bulog) recently announced that it has been assigned by the Indonesian Government to import 2 million tonnes of rice this year, Chairman of the GLE Company Vu Tuan Anh told the Lao dong (Labour) daily.

Vietnam was among the largest rice exporters to Indonesia and is expected to maintain this status in 2024, he noted.

Last year, India, the world’s biggest rice exporter, suddenly banned the export of non-basmati white rice. Despite this unexpected move and no time for preparation, Vietnam still managed to ship abroad about 8.29 million tonnes of rice worth 4.78 billion USD in 2023, up 16.7% in volume and 38.4% in value year on year, setting new records in more than 30 years since the country began exporting rice.

In 2024, Vietnam is in a more proactive position as it can grasp global demand and domestic output, so there are more favourbale conditions for the export, Anh continued.

Particularly, export prices are still high, which will be a contribution to export growth, he said, perceiving that if India prolongs its export ban, Vietnam could earn over 5 billion USD from overseas shipments of rice this year.

Pham Thai Binh, Director of the Trung An Hi-Tech Farming JSC, said right at the start of 2024, his company received six orders for 1,500 tonnes of rice for the EU, the UK, Malaysia, the UAE, and Australia. FOB (free on board) prices, which are prices at Vietnam’s border gates, range from 718 USD per tonne to 1,277 EUR (nearly 1,390 USD) per tonne.

He voiced his belief that rice exports will be equivalent to last year’s in terms of volume but about 15 – 20% higher in value thanks to high prices.

Echoing the view, the Vietnam Food Association (VFA) held that rice exports will continue benefiting from a favourable context in 2024 as the world is facing a shortage of 5 million tonnes, such importers as Indonesia and the Philippines still have demand for imported rice, and India is likely to maintain export restrictions in the coming time.

Given this, rice shipments could bring home about 5.3 billion USD this year, the VFA forecast.

Source: customs news