All news

HS CODE stands for Harmonized System Code, a unique number assigned to classify all traded goods internationally. Determining the HS CODE of traded goods based on legal provisions and product characteristics is referred to as 'Classification (Nomenclature).’   The reason why accurate classification is crucial lies in the fact that various aspects such as Duty and Tax rates, import/export requirements, exemptions, refunds, and FTA rules of origin are determined by the HS CODE of the goods. Frequently disputes between companies, customs authorities, exporters and importers, and exporting and importing countries arise due to inconsistent classification.   Recently, there have been many cases where Vietnamese...

CMA CGM has announced a new peak season surcharge (PSS) from Asia to South Africa that will be effective from 21 August, 2023. The French ocean carrier noted that the surcharge will be US$300 per TEU and will be applied to dry, reefer, out-of-gauge (OOG) and breakbulk cargo. The surcharge will be applied from ports in North East Asia, South East Asia, Mainland China, Hong Kong SAR, Macau SAR and Taiwan to South Africa.

Ocean Network Express (ONE) is based in Singapore announcing about launching a new route Korea China Straits 2 (KCS2). The new service will start from Busan port on 6th July2023 with the following rotation: Busan ​​(Korea) – Kwangyang (Korea) – Shanghai (China) – Sekou (China) – Singapore – Port Klang (Malaysia) –Penang (Malaysia) – Singapore – Cat Lai (Vietnam) – Nam Sa ( Guangzhou) – Busan. In order to exploit potential markets, KCS2 will provide direct shipping services to Penang port in Malaysia and Cat Lai port, which has good access to the Ho Chi Minh City market as well as other production...

COSCO SHIPPING Heavy Industry (Yangzhou) began construction works on the second 700 TEU electric container ship (N998) owned by COSCO SHIPPING Development on 8 May. The 700 TEU electric boxship is an important initiative of COSCO SHIPPING Development aiming to promote the "carbon peaking and carbon neutrality" push for green zero-carbon shipping demonstration. The ship is a 10,000-DWT specific route river/coastal ship with an length of 119.8 metres, a moulded beam of 23.6 metres, a designed draught of 5.5 metres, and two 900kW main propulsion motors. The vessel is expected to be able to cut carbon emissions by roughly 32 tonnes every 24...

Xuan Cau Industrial Park and Non-Tariff Zone is being built at Lach Huyen international port area, Cat Hai district, Hai Phong.                     Tan Cang - Hai Phong International Container Terminal (TC- HICT) is the first terminal built and put into operation at Lach Huyen international port. The project has a total investment of 11,100 billion VND, located on an area of ​​752 hectares, located in the area of ​​Lach Huyen international gateway port, Dinh Vu - Cat Hai economic zone. attracting about 40,000 - 50,000 workers. Non-tariff zone - Logistics and Lach Huyen Industry located in...

According to statistics from Drewry on world container freight rates, as of 20th April 2023, the 40 feet container freight rate was $1,774, down 83% from $10,377 in September 2021 and lower 34% compared to the average over the past 10 years of 2,688 USD. The current tariff is equivalent to the end of 2020, but still 25% higher than 2019's $1,420. In the past year, freight rates for routes have decreased significantly, specifically, the Asia-Europe route has decreased by 81-85%, Asia-US by 75-79%, the Americas-Asia and Europe have decreased 18 - 21%. As a rule, ocean freight rates will have a...