Steel news

Current Global Logistics Situation And Container Freight Forecast

According to ongoing related to logistics situation, all exporters are struggling with a sudden rise in container freight prices, and this time to be perceived the highest rate recorded in history and there is no sign of decelerating. In particular, those who are exporting heavy commodities such as rice, steel and low-value goods ( plastics) have a huge backlog of inventories because these products are not prioritized to receive fresh bookings from shipping lines or are being charged with extreme high container freight rate. Many enterprises have petitioned shipping lines for determining the root cause for such problems as well as to request to the Government agencies to propose reasonable support plans; but not yet to be addressed.
The key reasons are the shortage of empty containers globally and the sluggish movement of container rotation due to severe effects of Covid-19 outbreak in big countries such as Mexico, the US and EU…

See detail February 2, 2021

Law services

Law news

Customs alert: Deadline for C/O Submission under EVFTA

On January 25, 2021, the Vietnamese Ministry of Finance issued Circular No. 07/2021/TT-BTC, prescribing the time of submission of Certificate of Origin (C/O) for imported goods under the Free Trade Agreement between the Socialist Republic of Vietnam and the European Union (EVFTA).

Accordingly, this Circular stipulates 3 times when customs declarants are allowed to submit C/O for imported goods as follows:

– The customs declarant submits C/O of imported goods at the time of carrying out customs procedures;

– In case C/O for imported goods is not available at the time of customs procedure to enjoy special preferential import tax under the EVFTA, customs declarants must declare to submit late C/O on the import customs declaration. Moreover, they shall make additional declarations, and submit C/O within a period of no more than 2 years from the date of registration of the import customs declaration and in the validity of C/O.

See detail March 5, 2021