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Archive for November, 2018

Additional fuel excise tax may be implemented in 2019 after all

Additional fuel excise tax may be implemented in 2019 after all

Nov. 30 | The Development Budget Coordinating Committee (DBCC) has retracted its recommendation to suspend the second increase in excise tax on fuel under the Tax Reform for Inclusion and Acceleration (TRAIN) law in light of the favorable outlook in the price of...

Challenging outlook for shipping as new export orders fall—Bimco

Challenging outlook for shipping as new export orders fall—Bimco

Nov. 30 | The effects of rising trade barriers, capital flowing out of emerging market economies, and the elevated geopolitical risk are already being felt and bringing a challenging outlook for the shipping industry, according to the Baltic and International Maritime...

Asian air carriers enjoy sustained growth in passenger, cargo markets despite trade tensions

Asian air carriers enjoy sustained growth in passenger, cargo markets despite trade tensions

Nov. 29 | Air passenger traffic continued to expand at an encouraging pace, while international air cargo volumes remained firm, notwithstanding tensions around global trade policies, according to the October figures released by the Association of Asia Pacific...

First TIR truck journey from China to Europe achieved in 13 days

First TIR truck journey from China to Europe achieved in 13 days

Nov. 28 | After more than six months’ preparation, the first truck to make a road journey from China to Europe under the Transports Internationaux Routiers (TIR) system successfully accomplished its maiden run recently, seen to usher increased trade between the...

New Bohol airport inaugurated

New Bohol airport inaugurated

Nov. 28 | President Rodrigo Duterte (center) led the unveiling of the Bohol-Panglao International Airport marker on November 27, 2018. With him were (L to R) Japanese Ambassador to the Philippines Koji Haneda, Executive Secretary Salvador Medialdea, Transportation...

PH ports register 2.06% volume growth in Jan-Oct

PH ports register 2.06% volume growth in Jan-Oct

Nov. 28 | The Port of Batangas is one of the top contributors to the Philippines’ foreign cargo traffic. Photo courtesy of terminal operator Asian Terminals Inc. Cargo volume handled by Philippine ports in the first 10 months of 2018 rose 2.06% year-on-year...

Carriers eye full adoption of automated empties return under GoFast in 2019

Carriers eye full adoption of automated empties return under GoFast in 2019

Nov. 28 | Association of International Shipping Lines (AISL) members are looking to fully implement in 2019 an automated empty container returns system under GoFast. This would help address difficulties in the return of empties currently being experienced by logistics...

BOC chief orders heightened anti-smuggling initiatives

BOC chief orders heightened anti-smuggling initiatives

Nov. 28 | Customs Commissioner Rey Leonardo Guerrero has directed customs officials and employees to intensify anti-smuggling measures in ports. In a memorandum dated November 22, Guerrero reminded Bureau of Customs (BOC) officials to ensure they comply with the...

PPA Jan-Oct income inched up 0.28% as port rehabilitation costs soared

PPA Jan-Oct income inched up 0.28% as port rehabilitation costs soared

Nov. 28 | The Philippine Ports Authority (PPA) recorded a modest increase in net income in the first 10 months of 2018, owing to higher revenues boosted by an increase in cargo and vessel traffic, and adjustments in tariff rates. In its 10-month performance report,...

PH fuel marking system for implementation in 2019

PH fuel marking system for implementation in 2019

Nov. 26 | The Philippine government will finally implement next year its fuel marking system to curb oil smuggling and plug revenue losses from illegal importation and misdeclaration of fuel. The Bureau of Customs and Bureau of Internal Revenue have recently created...
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