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Statistics from Vietnam Maritime Administration show that recently global container shipping fees have increased by 12%, while costs on routes from Asia to Europe have risen by 14%. Also, there are fears that in the coming time, the lack of empty containers could push up sea freight rates to the records set during the COVID-19 pandemic.   Container prices have increased due to the following reasons: 1. Limited supply of container ships because ships have to reroute around the Red Sea area due to Houthi attacks 2. Owing to peak season of international market, there is a shortage of empty containers. 3. Chinese...

HaiPhong International Terminal (TC-HICT) pronounced the adjustment of timeframe for receiving export containers to ensure smooth operations and service quality within the port. Containers destined for loading onto vessels can now only be brought into the port within 4 day period prior to the vessel's Estimated Time of Arrival (ETA).   Previously, containers could be brought into the port up to 5 days before the ETA. However, due to increasing port congestion, the time frame has been adjusted to mitigate the problems.   The new receiving time frame will take effect starting Thursday, June 20th. 

The shipping group Maersk said on May 6 that disruptions in container shipping activities on the Red Sea are increasing and predicted to reduce shipping capacity between the ASIA and EUROPE by up to 20% in the second quarter of 2024. Since December 2023, Maersk and other shipping lines have had to redirect ships around South Africa's Cape of Good Hope to avoid attacks by Houthi forces in the Red Sea. This makes shipping time longer and increase freight rates.   In a notice sent to customers on May 6, Maersk said the risk area has expanded, forcing ships to take longer journeys,...

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...