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Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Busiest US Port Sets All-Time Cargo Record in 2018

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LOS ANGELES : The Ports of Los Angeles and Long Beach on Wednesday said they set all-time records for moving cargo in 2018, after U.S. retailers and manufacturers pulled forward imports to avoid higher tariffs on Chinese goods. The Port of Los Angeles, North America’s busiest container port, handled 9.46 million 20-foot equivalent units (TEUs) last year, the most in ... Read More »

China shares customs shipment data with Pakistan: FPCCI

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Karachi : For the first time China has shared data of customs shipments with Pakistan, said senior vice president Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Dr Mirza Ikhtiar Baig. “Federal Finance Minister Asad Umar has told me during his recent visit to Karachi that China has shared customs shipment data with the Federal Board of Revenue,” he ... Read More »

Abu Dhabi Ports handled 1.74m containers in 2018

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Abu Dhabi: The number of standard container handling by Abu Dhabi Ports has increased last year by 24 per cent, to reach 1.74 million containers, compared to 1.4 million in 2017, according to the latest statistics. The statistics reflect the company’s commitment to achieving economic diversification in Abu Dhabi, through the development of non-oil sectors and the use of innovation ... Read More »

Iran Customs’ Emergency Plan for Speedy Import Clearance

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Tehran : RICA has recently introduced an emergency plan to speed up the clearance of imports and reduce the pile-up of goods at customs and ports. The order issued by the Islamic Republic of Iran Customs Administration’s newly-appointed chief, Mehdi Mirashrafi, pertained to containers accumulated at the southern port of Shahid Rajaee, IRICA’s news service reported. IRICA says a total ... Read More »

A port in a storm: politics, competing interests leave Port of Halifax future in limbo

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Last month, Canadian National Railway announced that it was bidding, alongside an unnamed partner, to buy and expand the Halterm Container Terminal in the Port of Halifax, with the aim of turning it into “the Prince Rupert of the East,” a nod to the company’s booming West Coast terminal business. “What we’re trying to do here is catch some of ... Read More »

Eni charters Saipem 12000 for drilling in Pakistan

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KARACHI: Eni has chartered Saipem’s drillship ‘Saipem 12000″ for work in Pakistan for an undisclosed dayrate. According to the Norwegian rig brokers Bassoe Offshore, the contract, fixed on October 24, is for three months. Per Bassoe Analytics, the three-month contract is expected to start on December 1. VesselsValue’s data also shows Eni has chartered the drillship, however, VV has a ... Read More »

Iran hopes for presence of major liners in Chabahar Port

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Tehran : Managing Director of Ports and Maritime Organization Mohammad Rastad said he hopes that the activities of Indian operator in Chabahar Port will pave the ground for the increased presence of major world liners in the port. He made the remarks in meeting this week with the Indian ambassador to Tehran Saurabh Kumar. Rastad went on to say that ... Read More »

Saudi Customs Is Experimenting With Blockchain

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Saudi Arabia : The immutable nature of blockchain has led many to believe that one of the ways that blockchain technology will change the world will be the fact that it can be applied to the logistics sector, where goods have to constantly be tracked for maximum productivity and profitability. It appears as though the Saudi Arabian government agrees. Customs ... Read More »

Rosslare Port cost ‘not a factor’ in plan to cut ferry

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Irish Ferries did not raise the issue of costs with the operators of Rosslare Port before announcing its plan to cut services from Co Wexford to France, the port’s managers have said. Ireland’s largest ferry company announced last month that it was unlikely to run a service from Rosslare Europort to Cherbourg this year because most of its customers preferred ... Read More »

Kenyan President Denies China Plans to Seize Port over Delinquent Loan Payments

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Shanghai : Kenyatta described China as “a very strong development partner, just as is the World Bank, Japan, France, and Germany.” He said he would continue borrowing as much money as necessary to develop Kenya’s infrastructure, boasting that double the number of Kenyans now have access to electric power thanks to the loans he has taken. SGR refers to the ... Read More »

Colombo Port handles record breaking 7-millionth container for 2018

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Colombo : Colombo Port on Monday handled its seven millionth container at the Jaya Container Terminal of Sri Lanka Ports Authority with joint marketing strategies carried out by three terminals, JCT, SAGT, and CICT. The function was graced by new Ports Minister Sagala Rathnayake with the participation of the Secretary of the Ministry and the Chairman of SLPA Dr. Parakrama ... Read More »

Iran in talks to release its vessels from Kuwait’s port

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Iran is in talks with Kuwaiti officials, organizing the release of two seized vessels from port of Mina Al Zour that, the cause of which, reportedly, was because of legal and technical disputes of contractors. The Iranian vessels have been sized by Kuwait for almost 20 days. Iran’s Ports and Maritime Organization is putting in efforts to have them released. ... Read More »

China’s loans to Lanka far below market rate : Chinese scholar

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Colombo : The interest on 61.5% of China’s loans to Sri Lanka is far below the international market rate, according to Prof. Huang Yunsong, Associate Dean at the China Center for South Asian Studies in Sichuan University. Huang told the Colombo Shangri-La Colloquium 2018 on Sunday, that as of December 2017, Sri Lanka owed China US$ 5.5 billion which was ... Read More »

Khalifa Port to double container volumes in 2019, official says

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Abu Dhabi : Khalifa Port expects to double the number of containers handled next year with the help of China’s Cosco Shipping Ports, which inaugurated a $430 million terminal and container freight station at the Abu Dhabi facility on Monday, officials said. CSP, the Hong Kong-listed unit of the world’s No. 3 container shipping line China Cosco Shipping Corporation, has ... Read More »

China Defrauded Sri-Lanka To Seize Hambantota Port: US Lawmaker

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Colombo : Sri Lanka was forced to hand over the strategic Hambantota Port to China, due to Beijing’s debt-trap policies. This was stated by a powerful US lawmaker on Tuesday sought an end to the Chinese debt trap. China was defrauding small countries with nonviable infrastructure projects and was charging exorbitant rates that the poor countries could not afford, alleged ... Read More »

CICT adds capacity for bigger ships at Sri Lanka’s Colombo port

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Colombo : Colombo International Container Terminals (CICT) said it was buying more cranes that will enhance deep water capacity and enable Sri Lanka’s Colombo port to handle the biggest container ships afloat. A statement said the capacity enhancement by March 2019 would make Colombo “one of the few ports in Asia capable of handling vessels of 22,000 + TEUs (twenty-foot ... Read More »

China’s CSP, Abu Dhabi Ports launch new terminal

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Abu Dhabi : China’s COSCO Shipping Ports Limited (CSP) and Abu Dhabi Ports inaugurated on Monday a new terminal at Khalifa Port. The terminal was formally inaugurated at a ceremony by Sheikh Hamed bin Zayed Al Nahyan, chief of Abu Dhabi crown prince’s court. The ceremony was also attended by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, chairman of ... Read More »

U.S.-bound retail container volume set new record, says Port Tracker

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United States-bound retail container imports hit a new record in October, according to the Port Tracker report issued by the National Retail Federation (NRF) and maritime consultancy Hackett Associates this week. The ports surveyed in the report include Los Angeles/Long Beach, Oakland, Tacoma, Seattle, Houston, New York/New Jersey, Hampton Roads, Charleston, and Savannah, Miami, Jacksonville, and Fort Lauderdale, Fla.-based Port ... Read More »

South Korean firm plans Australia’s fifth proposed LNG import terminal

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Sydney : South Korean developer EPIK, based in Seoul, has proposed the establishment of a floating LNG import terminal at the Port of Newcastle north of Sydney on Australia’s east coast. EPIK has signed an agreement with the Port of Newcastle to conduct preliminary work on the project, which is expected to cost as much as $430 million (Aus.), including ... Read More »

Trade turnover up between Iran, Oman

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Tehran : Trade balance between Iran and Oman increased in favor of Iran during the first seven months of the current Iranian year (started March 21), Iranian Students’ News Agency reported referring to Abbas Badalkhani, Iran’s commercial attache in Oman. Citing Iran Customs Administration (ICA) statistics, Badalkhani noted that the trade turnover between Iran and Oman reached $870 million in ... Read More »