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Archive for September, 2016

Lethargic trade forecast to keep air cargo market growth modest till 2025

Lethargic trade forecast to keep air cargo market growth modest till 2025

Sep. 29 | The Airports Council International (ACI) in its World Airport Traffic Forecasts 2016–2040 predicts just a slight rise in global air cargo volumes each year over the next decade, as it noted many barriers to healthier growth. “The weakened global economy...

WTO lowers world trade forecast for 2016-17 as merchandise volume falls sharply

WTO lowers world trade forecast for 2016-17 as merchandise volume falls sharply

Sep. 29 | The World Trade Organization (WTO) has revised downward its forecast for world merchandise volume in both 2016 and 2017, warning that the growth rates of both trade and GDP have reached their slowest post-financial crisis. In a new report, the WTO said...

Asia on course for 5.7% GDP growth in 2016 and 2017, says ADB

Asia on course for 5.7% GDP growth in 2016 and 2017, says ADB

Sep. 27 | Developing Asia is expected to grow steadily despite external pressures and should meet earlier forecasts for 2016 and 2017, aided by resilience in the region’s two largest economies—China and India, says a new Asian Development Bank (ADB) study. Gross...

S Korea’s Aug sea cargo dips; HK July exports fall

S Korea’s Aug sea cargo dips; HK July exports fall

Sep. 27 | Cargo processed at South Korean seaports shrank nearly 6% in August from a year earlier despite a slight gain in exports, government data showed. The volume of cargo handled by the country’s seaports came to 114.5 million tons last month, down 5.8%...

‘K’ Line lambasts bankruptcy rumors, threatens legal action

‘K’ Line lambasts bankruptcy rumors, threatens legal action

Sep. 26 | Japanese ocean carrier Kawasaki Kisen Kaisha, Ltd. or “K” Line has refuted allegations of potential bankruptcy and is mulling legal steps against the instigators of these claims. “It has become known to us that a certain NVOCC company had circulated...

PH Customs At A Crossroads

PH Customs At A Crossroads

Sep. 26 | This is a four-part article outlining the major problems confronting the Philippine Bureau of Customs; the previous efforts to reform and modernize the agency; key issues and concerns that continue to confront it; areas for policy and institutional reforms;...

Don’t rule out customs brokers yet, says industry expert

Don’t rule out customs brokers yet, says industry expert

Sep. 26 | Although the engagement of their services will eventually become optional, customs brokers will continue to process shipments in the Philippines if the current Bureau of Customs’ (BOC) electronic-to-mobile system (e2m) is not modified, a former Customs...

Complicated PH clearance processes to warrant use of customs brokers by multinationals

Complicated PH clearance processes to warrant use of customs brokers by multinationals

Sep. 26 | Multinational companies will likely continue to engage the services of customs brokers even if these become optional two years after implementation of the Customs Modernization and Tariff Act (CMTA), according to an executive of a multinational firm. Cris...

PH carriers seek more methodical Marina vessel inspections

PH carriers seek more methodical Marina vessel inspections

Sep. 26 | The Philippine Inter-Island Shipping Association (PISA) has called for a more organized conduct of ship inspections amid random checks by the Enforcement Service (ES) of the Maritime Industry Authority (Marina). In a letter dated September 22, PISA executive...

Vietnam deletes ineffective provisions in several customs policies

Vietnam deletes ineffective provisions in several customs policies

Sep. 26 | Vietnam’s Minister of Finance (MOF) has signed an order voiding mandates in 25 legal documents—including those regulating customs procedures—saying they no longer provided any perceived use to the ministry’s management of state affairs. Decision...
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