Trading firm director convicted of illegally importing 1,787 elephant tusks into Singapore.

Dao Thi Boi, 40, was found guilty of importing a scheduled species without a permit She had not taken all reasonable precautions or exercised all due diligence before helping her client with his shipment in 2018, a judge found The shipment was found to contain almost 1,800 pieces of elephant ivory She will return to…

Details

UK exchequer may have lost up to £30bn of VAT via non-declarations

There could be upwards of 100 million customs declarations not made post-implementation, according to head of international trade and customs at Fujitsu, Frank Dunsmuir. Fujitsu hosts the CHIEF customs declaration system. He told The Loadstar that “easily around £30bn” of VAT had been lost due to HMRC’s six-month (175-day) delay on declarations for goods imported between 1…

Details

Using Animal Health Regulation Export Health Certificates from 15 January 2022

Businesses now need to use the Animal Health Regulation (AHR) Export Health Certificates (EHCs) for goods exported from Great Britain (GB) to the EU or moved to Northern Ireland (NI) if an EHC is required. EHCs used by Authorised Traders to move prohibited and restricted (P&R) goods to Northern Ireland are unaffected by these changes.…

Details

Russia’s invasion of Ukraine leaves global trade in tatters

MIAMI (AP) — Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions. Since Russia’s invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while…

Details

Singapore raises 2021 trade forecasts again as exports grow 9% in Q3

  SINGAPORE: Singapore raised its trade forecasts on Wednesday (Nov 24) amid a “better-than-expected” performance and robust global semiconductor demand in the third quarter of 2021. Higher oil prices also supported the oil trade and in turn total trade, Enterprise Singapore (ESG) said in its review. Non-oil domestic exports (NODX) could now grow by between…

Details

PSA to acquire US supply chain company BDP International – Commentary

On the face of it, combining port operations and logistics operations makes perfect sense as it links the first mile and last mile of a container journey. With the application of the right technology, it could improve the customer experience, allow for easier monitoring of shipments, and ease the compliance burden. The challenge of operating…

Details

China Oct exports beat forecasts, offer buffer to slowing economy

Summary Oct exports +27.1% yr/yr vs +24.5% forecast, +28.1% in Sept Oct imports +20.6% yr/yr vs +25.0% forecast, +17.6% in Sept Oct trade surplus at $84.54 bln, vs $65.55 bln forecast  China’s export growth slowed in October but beat forecasts, helped by booming global demand ahead of winter holiday seasons, an easing power crunch and…

Details