Blueman Exim News

International Commercial Terms (INCOTERMS 2020)

To conserve energy resources and raise public awareness about the same, World Energy Conservation Day is celebrated on December 14 every year.

DP World launches world’s first container port carbon inset programme. DP World is trialling an innovative carbon reduction programme at its UK logistics hubs, London Gateway and Southampton, aimed at helping cargo importers cut their emissions.    Starting on January 1, 2025 for an initial six-month trial, the Carbon Inset Programme will reward importers with 50kg CO2e of carbon credits for every loaded import container they move through DP World’s UK terminals. These independently certified credits, issued quarterly, will showcase participating companies’ efforts to reduce the indirect (Scope-3) emissions in their supply chains.    Unlike traditional carbon offset credits, which compensate for emissions through external projects like tree planting, inset credits reflect a tangible reduction in emissions achieved directly in a company’s own supply chain.    DP World’s inset credits are generated through its subsidiary, Unifeeder, which deploys incrementally lower-carbon fuels across its Northern European shipping network. These credits are verified and pooled, allowing registered importers to access independently certified carbon credits.    For businesses, this represents a transparent and measurable way to cut Scope-3 emissions – indirectly produced along the supply chain, while demonstrating sustainability commitments to customers.    The inset initiative builds on DP World’s award-winning Modal Shift Programme, which reduced emissions for its partners by more than 17,000 tonnes in its first year. These efforts earned DP World the ‘Transport and Mobility Project of the Year’ accolade at the edie Net Zero awards in November.   John Trenchard, Vice President – Commercial & Supply Chain, DP World in the UK, said: “At DP World we are constantly exploring ways to reduce carbon emissions across our customers’ supply chains. Insetting carbon emissions is a transparent, direct and pragmatic approach with immediate measurable impact for our customers. By providing easy access to an independently certified inset programme, we aim to create better awareness and encourage the adoption of more sustainable practices. By participating in the trial, a world first, import cargo owners can actively contribute to global decarbonisation efforts while aligning with their own sustainability goals.”    If 50% of import volume participates in the trial at DP World’s UK container terminals, this could replace over 11,000 tonnes of traditional fossil fuel with lower carbon marine fuels, equivalent to the reduction of 10,000 tonnes of carbon dioxide, highlighted a release.    Businesses can register for the trial and are encouraged to sign up before December 31, 2024 to receive free carbon inset credits.   Source: Dubai/London, Dec. 12, 2024.

World container volumes seen rising by 7 pc in 2025. Maersk expects the global container market volume to rise as much as 7% next year, bolstered by strong demand from the United States where a potential port strike and tariffs on foreign-made goods loom, Mr Charles van der Steene, Regional President for North America at Maersk, was quoted as saying. Houthi attacks on vessels in the Red Sea and resilient demand from US companies will continue to spur consumption of containers, he said. The United States is Maersk’s largest market by sales. Maersk expects the disruption in the Red Sea to continue well into 2025, he added. Rerouting a product from the US East Coast to the West Coast is no small feat, due to the extra costs and time involved, but it can be crucial if seasonal products are involved, he said, as per a report.   Source: New Jersey, Dec. 12, 2024.

DGFT notifies extension of IT import management system. The Directorate General of Foreign Trade (DGFT) has notified the extension of the import management system for select IT hardware products for another year. This comes at a time when domestic production in India is far lower than the demand. The current import management system for the seven IT hardware products including laptops, tablets, all-in-one personal computers, ultra-small form factor computers and servers, is valid till December 31, 2024. According to the latest DGFT notification, importers will have to seek fresh authorisation for next year. The new licence regime is applicable to laptops, personal computers (including tablet computers), microcomputers, large or mainframe computers and certain data processing machines. The application portal will be open from December 13, 2024 to December 15, 2025, said a report.   Source: New Delhi, Dec. 12, 2024.

Most Major Ports in sound financial health: Sonowal. Overall, most of the Major Ports have sound financial health. Some of the Major Ports are facing challenges in terms of financial sustainability including substantial shortfalls in pension obligations, high cost of dredging, restrictions on handling of certain commodities, competition from non-major ports, ongoing legal and arbitration cases, etc.   In an ongoing effort to improve profitability, Major Ports are undertaking modernisation and mechanisation of berths and terminals, channel deepening, streamlining of processes through digitalisation, strategic marketing initiatives, etc. to meet the trade challenges, the Union Minister of Ports, Shipping & Waterways, Mr Sarbananda Sonowal, informed Parliament this week.

Nationwide Port workers strike averted   The threat of a nationwide strike by port workers from December 17, 2024 has been averted, following successful negotiations between worker unions and government representatives.   Bipartite Wage Negotiation Committee (BWNC) agreement between the port management and the dock workers federations was honoured by the Central government, thereby averting the strike.   The Ministry of Ports, Shipping and Waterways will issue orders to the Indian Ports Association to implement the wage revision and a productivity-linked reward scheme agreed with the port workers unions, as per a release.   Source: New Delhi, Dec. 12, 2024.

HDC B9 berth shutdown. In view of civil work related to repair of the jetty deck slab, the appropriate authority of Haldia Dock Complex (HDC), SMPA Kolkata has approved the shutdown of the B9 berth (erstwhile B8) for a period of 5 days: December 12 to 16, 2024.   During this period, Berth No. 9 will not be available for cargo handling. All other MHC-equipped berths will remain operational to facilitate cargo handling activities, informed the Haldia Dock Complex Trade Notice dated December 11, 2024.   Source: Kolkata, Dec. 12, 2024.

Dry bulk newbuilding contracting down   Over the past three months, dry bulk newbuilding contracting has been 70% below the yearly average. Declining freight rates in recent months, a cloudy outlook and high newbuilding prices contributed to the slowdown, and contracting in 2024 will likely fall short of 2023 levels, as per BIMCO.   Source: London, Dec. 12, 2024.

GSBN achieves new milestone, bringing draft proposal one step nearer to global standard. Recently, the Global Shipping Business Network (GSBN), dedicated to advancing digitalisation across the entire shipping industry, received exciting news. The draft standard for the business process and data exchange of electronic bills of lading based on distributed ledger systems—project number ISO5909 “Business Process and Data Exchange of DLT Based Electronic Bill of Lading”—has successfully passed the Committee Stage review. It has also completed the fifth stage, Enquiry Stage as a Draft International Standard (DIS). This achievement marks an important milestone in the standardisation project. Following this, ISO5909 will proceed to the sixth stage, which involves the Final Draft International Standard based on feedback collected during the fifth stage, ultimately leading to the promulgation of the international standard.   ISO5909   In 2022, ISO5909 was voted on and approved by ISO/TC154 of the International Organization for Standardization. This standard was developed collaboratively by experts from both China and abroad, including those from the United Nations Economic Commission for Europe (UNECE) and ISO/TC154 JWG9 of the International Organization for Standardization. A team of five individuals from COSCO SHIPPING Lines participated in this project, with two being recommended as co-leaders to guide the standard’s formulation.   ISO5909 addresses the challenge of replacing paper-based bills of lading, which serve as property rights certificates, with electronic alternatives. It standardises the digital circulation process and data semantics, filling a significant gap in international standards for the circulation of electronic bills of lading as property rights certificates and the role of blockchain technology. The standard offers a structured framework and basis for the issuance, circulation and return of electronic bills of lading for shipping via blockchain-based systems. This promotes the adoption and advancement of blockchain-based electronic bills of lading, providing a trusted digital foundation for the transition to paperless operations and further facilitating international trade.   As one of the founding members of GSBN, COSCO SHIPPING has been at the forefront of researching, developing and applying blockchain-based electronic bills of lading since 2020. By integrating digital technology with customer needs, COSCO SHIPPING continues to drive the adoption of blockchain-based electronic bills of lading. To date, over 350,000 electronic bills of lading have been issued and circulated on the GSBN blockchain platform, said a release.   Source: Shanghai, Dec. 12, 2024.