A T1 bond, also known as a T1 transit bond, is a financial instrument used in international trade and customs procedures. The "T" in T1 refers to transit, indicating that the bond is associated with the movement of goods in transit between customs territories. Here's an explanation of T1 bonds: Purpose of T1 Bonds: T1…
Israel’s air cargo and marine gateways for trade are functioning under signs of strains as the country’s war against Hamas continues. The backlog of ships is growing at Israeli ports while operations continue at most terminals amid preparations by the military to launch a ground assault in the Hamas-controlled Gaza Strip. Ashdod port has imposed…
Drought conditions can have significant impacts on the operations of the Panama Canal, which is a vital maritime route connecting the Atlantic and Pacific Oceans. The Panama Canal relies on a system of locks and a network of artificial lakes and reservoirs, the largest of which is Gatun Lake, to facilitate the passage of ships.…
The EU’s Carbon Border Adjustment Mechanism (CBAM) will put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and encourage cleaner industrial production in non-EU countries. The gradual introduction of the CBAM is aligned with the phase-out of the allocation of free allowances under the…
Methanol has been considered as a potential clean fuel for the shipping industry due to its lower emissions compared to traditional marine fuels. It is a type of alcohol with the chemical formula CH3OH and can be produced from a variety of sources, including natural gas, biomass, and carbon dioxide (CO2) captured from industrial processes.…
The replacement for CHIEF has already experienced delays in the switchover, and was expected to finally come into force in January, however this has now been pushed back to November to allow for more testing. It could also mean that in reality it could be at least into 2024. There have been reports of multiple…
Time is running out to move over to switch to HMRCs new customs system before Septembers deadline - with more than 3500 businesses at risk of severe delays if they do not migrate to the Customs Declaration Service (CDS) before it switches off. Director of programme and operational delivery for borders and trade Julie Etheridge…
It’s only been just over a year since the Ever Given, a giant 20,000 TEU (Twenty-Foot Equivalent Unit) capacity container ship, ran aground in the Suez canal causing trade chaos for a week until it was freed. And now another of Evergreen’s massive, albeit half the size of the Ever Given, has run aground in…
Supreme Freight assists companies in the process of transporting goods from one place to another. We use the most cost-effective methods with a suitable shipping company to ensure that every point of the journey goes smoothly. At Supreme we contract with specialist companies covering sea, air or road to transport goods on behalf of their…
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