The US will end the exports of US-origin defense equipment to Hong Kong, Secretary of State Mike Pompeo announced Monday, citing the need to protect American national security as the tensions between the US and China continue to escalate.
"As Beijing moves forward with passing the national security law, the United States will today end exports of U.S.-origin defense equipment and will take steps toward imposing the same restrictions on U.S. defense and dual-use technologies to Hong Kong as it does for China," Pompeo said in a statement.
U.K. companies exporting into the European Union will have to wait for permission from tax authorities before they can move their goods under plans being drawn up by the government.
According to a document circulated by Her Majesty’s Revenue and Customs, lorries will only be able to move loads into the EU if they have a valid reference from the so-called Goods Vehicle Movement Service, a new and untested IT platform that is still under development.
Just as the U.S. president urges American companies to ditch China, many of them can’t get more of China fast enough.
Consider the voyage of the container ship Melina, which set sail Wednesday from a Chinese port near Shenzhen with products bound for U.S. households, a hulking symbol of how the flow of goods is adapting in a global economy crippled by a pandemic.
Source: Supply Chain Brain
Imports from China have been piling up at Indian ports pending government clearances, causing concern that a recent border standoff between the two nations could have an economic fallout that will disrupt supply chains.
From active pharmaceutical ingredients that go into the world’s most-consumed drugs to the innards of popular mobile phones, Indian companies purchase Chinese raw materials that feed their finished products. These consignments are now being delayed and firms aren’t sure why.
“Customs authorities have not been clearing consignments coming from China, and they haven’t been offering any reasons,” Dinesh Dua, chairman of India’s Pharmaceutical Export Promotion Council, said by phone. “It has been five days now. We have no source apart from China.”
Two global port operators – PSA and Saudi Arabia’s Red Sea Gateway Terminal (RSGT) – have been shortlisted to construct Bay Terminal, a 12-metre draught facility near Chittagong port.
At the same time, RSGT and DP World are on the priority list for operating the under-construction Patenga Container Terminal, which will raise Chittagong port’s container handling capacity significantly.
Source: The Loadstar
The Ocean Alliance has overtaken the 2M alliance, adding the market share lead on the Asia-Europe tradelane to its already dominant position on the transpacific.
The vessel-sharing alliance of CMA CGM, Cosco (including OOCL) and Evergreen did not follow rivals 2M and THE alliances in temporarily suspending an Asia-North Europe loop through to October, and has lifted its capacity share to 39% from 37% a year ago, according to Alphaliner data.
Source: The Loadstar