HM Revenue and Customs (HMRC) has launched an advance valuation ruling (AVR) service, which provides importers with certainty over the customs value of their goods before they arrive in the UK. From 27 April 2023, traders can apply online for an advanced valuation ruling. The AVR service allows importers to apply for a legally binding…
Turkey is situated at the crossroads of Europe and Asia, making it a natural bridge between the two continents. This strategic location allows access to markets in both Europe and Asia, making it an ideal hub for trade. It has a population of over 82 million people, making it one of the largest markets in…
Importing a shipping container from China can seem like a daunting task, but with some preparation and research, it can be a relatively straightforward process. Here are some steps to help you: Research the product and suppliers: Before you start importing, research the product you want to import and the suppliers in China. Look for…
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…
May 20, 2020 /
From 1 January 2021, the UK will apply a UK-specific tariff to imported goods. This UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until 31 December 2020. The new tariff is tailored to the needs of the UK economy. It will support the economy by making it easier and cheaper…
Japanese merged carrier Ocean Network Express (ONE) recorded a net loss of $586m in its first year of operation, however it said it expected to move into the black in its second year. ONE, formed from the container businesses of K Line, MOL and NYK,was supposed to produce synergistic returns for its parents. Instead it has dragged down the P&L…
March 7, 2018 /
The International Air Transport Association (IATA) released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), rose 8.0% in January 2018 compared to the year-earlier period. This was up from the 5.8% annual growth recorded in December 2017. Freight capacity, measured in available freight tonne kilometers (AFTKs), rose by…
February 7, 2018 /
The International Air Transport Association (IATA) released full-year 2017 data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs) grew by 9.0%. This was more than double the 3.6% annual growth recorded in 2016. Air cargo's strong performance in 2017 was sealed by a solid result in December. Year-on-year demand…
January 10, 2018 /
The 2018 marine forecast for transpacific and other major shipping trade routes notes that full recovery depends on a number of political, economic and technological factors. China is also a concern. “I know analysts have been harping on about it for years,” said Transport Intelligence Ltd. economist David Buckby, “but I think given what the…
November 22, 2017 /
In 1967, the British Transport Docks Board (BTDB) commissioned McKinsey & Company to assess the impact of a recent development from the United States: container boxes. The first purpose built ships for them were being launched, and a few US lines were carrying these novelties on their regular service. McKinsey & Company predicted: Containerised cargo is…