Garment exporters for rule changes Business Standard Nine months after the new foreign trade policy (FTP) was introduced, garment exporters have called for changing key operational mechanisms in the export process. The Apparel Export Promotion Council (AEPC) has asked the textiles ministry to simplify the policy’s authorisation, inspection and classification norms. Among their requests is to withdraw the need for a landing certificate for exported goods, required as proof to claim benefits under the Merchandise Exports from India Scheme (MEIS). Introduced in April 2015, the scheme aims to boost sagging exports, covering tariff lines for 5,012 items that earn duty credits. Exporters have said getting the documents to show proof of landing at the destination country entails cost and delay. AEPC says electronic shipping bills should be sufficient for declaration of intent. While filing the said bills, exporters are required to declare they are claiming rewards under MEIS and to mark ‘Y’ in the reward item box.

Invest heavily in transport, logistics The Daily Star Bangladesh's transport and logistics sectors offer immense opportunities for investors, as the country is found most wanting in the area. Given the country's growth forecasts, there is huge scope for investments in infrastructure, said Salahuddin Kasem Khan, managing director of AK Khan and Company Ltd. Khan's comments came at a discussion on the opportunities for investing in the country's transport, infrastructure and trade logistics at the Bangladesh Investment and Policy Summit. The Board of Investment, the Prime Minister's Office and the Business Initiative Leading Development jointly organised the two-day event at the capital's Radisson Blu Hotel. Khan gave an overview of the transport and logistics challenges facing Bangladesh and laid out a number of opportunities for investment. He said a modern multimodal transport system is a must to improve Bangladesh's competitiveness in the global economy and to increase the access to goods at reasonable prices.

MOL Liner adds ports to existing Asia-West Africa WA1 Service Sea News MOL Liner Ltd has announced the enhancement of its existing Asia West Africa service by adding new ports of call in Asia to West Africa from February 1. The new rotation will add new Malaysia and Sri Lanka calls to MOL's existing WA1 service. It will provide better coverage and direct connections between markets in Malaysia and Sri Lanka to West Africa. The first sailing on the upgraded WA1 service will be on February 1, from Shanghai. MOL will operate five vessels out of total eleven 2,800-TEU ships. The upgraded WA1 service will rotate through Shanghai (Mon/Tue), Ningbo (Tue/Wed), Hong Kong (Fri/Fri), Guangzhou-Nansha (Sat/Sat), Singapore (Wed/Thu), Port Kelang (Thu/Fri), Colombo (Tue/Tue), Lagos-Apapa (Mon/Wed), Lagos-Tincan (Wed/Sun), Tema (Mon/Fri), Cotonou (Sat/Sun), Abidjan (Tue/Tue), Singapore (Mon/Mon) and back to Shanghai (Mon/Tue).

Marine Bunker Exchange: Bunker prices to hover around $25-$28 a barrel Hellenic Shipping News Oil prices are now near 2003 lows on oversupply. Oil Futures have hit their lowest levels since 2003 this week as investors worry that a glut of crude is combining with slowing demand due to economic weakness especially in China. The oil market is still on its way downward. When will the downward trend stop? – When the shale oil producers run out of steam. The oil price level today, which is hurting badly the shale oil drillers in the U.S., but oil price will continue downward, until the a balance has been reached between demand and supply. – The reduction of crude oil that will lead to balance will start from the U.S. when enough shale oil drillers’ gone bankrupt or put their wells on hold. We must not forget the shale oil boom in the U.S. was the start of the oversupply problem. The traditional oil suppliers such as OPEC, Russia and other non-OPEC countries, kept their production level and the oversupply production began in the U.S.

Pharma exports to developed nations become easier as government scraps 'No Objection Certificate' rule Economic Times The Modi government's ease-of-doing business drive is set to benefit India's drug manufacturers, especially companies such as Sun Pharmaceuticals, Wockhardt, Ranbaxy Laboratories, Dr Reddy's Laboratories and Cipla, which export their products to highly regulated developed countries. The government has scrapped the requirement of obtaining a 'No Objection Certificate' from the health ministry for drugs exported to developed countries including the US, Canada, Japan and Australia and the European Union. Clearance of consignments often takes long on account of delays by regulatory agencies in granting approvals. As per the relaxation, the waiver has been given to drugs, medical devices and cosmetics meant for export to developed countries with effect from January 1. "These are highly regulated markets and they do sufficient scrutiny before importing from us. Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com