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India: Tax on freight

The Indian Income Tax Act 1961 in its section 172 deals with “Shipping business of non-residents”. Section 172 of the Act applies “for the purpose of the levy and recovery of the tax in the case of any ship, belonging to or chartered by a non-resident, which carries passengers, livestock, mail o ...

Coal Industry Suffering From Lack Of Demand

2015 is fast becoming a big year for both the global oil and coal industries. Up until mid-last year, oil prices hovered over $100 per barrel, but with its excessive production paired with falling demand, the prices have significantly plunged by almost 50%. The coal industry has also been strugg ...

Indonesian high CV thermal coal still commands premium in Japan

Indonesian high-grade thermal coal sold on term contract is still commanding a premium in Japan to Australian supply, even as more Japanese buyers tap the spot market for lower prices. Australian producers settled their annual contract with Japanese utilities starting April 1 at $67.80/mt FOB, b ...

Dry bulk shipping: Recent upsurge could be ephemeral; fundamentals still remain weak

The BDI witnessed a strong rebound in June, with Capesize and Panamax segments leading from the front. While BCI and BPI gained ~60% each, BSI and BHSI were up 11% and 9% respectively. • After a quiet start to June, Capesize earnings showed impressive turnaround in the middle of the month, backe ...

Indonesia coal exports suffer most as Chinese demand falls

Indonesia was the hardest hit of China’s coal suppliers in the first half of the year amid plummeting demand in the world’s biggest energy consumer. China’s tighter quality limits on seaborne coal and increased support for domestic miners cut imports 38 per cent from a year earlier in the six mo ...

Ukraine exported nearly 0.7 mln tonnes of grains

Since the beginning of 2015/16 MY, and as of July 14, Ukraine exported 688 thsd tonnes of grains, declared the Ministry of Agrarian Policy and Food of Ukraine, according to APK Inform. In particular, wheat exports totaled 131 thsd tonnes, corn – 390 thsd tonnes, barley – 166 thsd tonnes, and oth ...

US soybean exports increase 165% week on week: USDA

US soybean oil net export sales rose 2,249 mt, or 165%, in the week ended July 9, data from the US Department of Agriculture showed. Soybean oil net export sales increased to 3,611 mt for the reporting week ended July 9 from 1,362 mt in the prior week. Weekly physical exports for soybean oil dro ...

Is the traditional freight forwarding model obsolete?

A combination of the erratic global air and sea freight market, a growing shift in geographic focus towards the regional and the application of advanced technology and data analysis to the market is bringing the fate of the traditional freight forwarding model into question. Indeed, Ti’s annual ...

Rio Tinto scales down iron-ore shipment target

Rio Tinto PLC expects to ship less iron ore than initially thought from its vast network of mines in remote northwest Australia this year, news that may offer a morsel of relief for investors and smaller producers worried about an emerging glut in the raw material. Although Rio Tinto recorded a ...

The latest sign that coal is getting killed

Coal is having a hard time lately. US power plants are switching to natural gas, environmental restrictions are kicking in, and the industry is being derided as the world’s No. 1 climate criminal. Prices have crashed, sure, but for a real sense of coal’s diminishing prospects, check out what’s h ...