Ministry of Supply Uses Duty Drawback to Fuel Datadriven Expansion

Ministry of Supply Uses Duty Drawback to Fuel Datadriven Expansion

Ministry of Supply recovered millions of dollars in duty drawbacks through the Flexport platform, reinvesting the funds in R&D, new product launches, and market expansion. This case study highlights data integration, risk assessment, and process optimization as key success factors. To effectively leverage duty drawback policies, businesses should establish robust data systems, seek expert assistance, understand relevant regulations, optimize processes, and continuously evaluate their performance. This proactive approach ensures efficient utilization of available refunds and contributes to overall financial health.

11/03/2025 Customs Knowledge
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US Customs Tips to Prevent Costly Shipping Delays

US Customs Tips to Prevent Costly Shipping Delays

This article provides an in-depth analysis of the U.S. customs examination mechanism, covering examination types, triggers (such as new importers and inconsistent declaration information), and how CBP obtains information through AMS and ISF systems. It offers practical strategies to reduce examination risks, including accurate declarations and selecting reputable customs brokers. Furthermore, it outlines response measures after an examination, aiming to help importers achieve smooth clearance and avoid unnecessary losses. The goal is to provide actionable insights for navigating the import process effectively.

11/03/2025 Customs Knowledge
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Global Container Shipping Rates Drop Amid Trade War Concerns

Global Container Shipping Rates Drop Amid Trade War Concerns

The Drewry World Container Index has fallen sharply, reaching a new low since the Red Sea crisis, with the Asia-US route being the most affected. A combination of factors, including overcapacity, tariff policies, and geopolitical risks, is challenging the maritime market. Drewry predicts that freight rates may continue to decline, requiring shipping companies to respond proactively. The significant drop highlights the ongoing volatility and uncertainty in the global shipping industry, impacted by both supply-side pressures and external geopolitical events.

11/03/2025 Logistics
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Goldman Sachs Warns Tariffs on Canada Mexico May Fuel US Inflation

Goldman Sachs Warns Tariffs on Canada Mexico May Fuel US Inflation

Goldman Sachs forecasts that US core CPI could rise by 0.6% if the US imposes tariffs on imports from Canada and Mexico. The report suggests the duration of these tariff policies is uncertain but unlikely to become a long-term feature. Existing inflationary pressures in the US persist, and the new tariff policies may exacerbate inflation. The impact depends on the scope and longevity of the tariffs, but Goldman Sachs believes the effect will be noticeable in the short term.

11/03/2025 Logistics
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Vietnams Vietcombank Adopts New SWIFT Code for Global Transfers note The Original Article Title Appears to Reference JOINT STOCK COMMERCIAL VICTORIABANK but vietcombank vietnam Joint Stock Commercial Bank for Industry and Trade Is a More Rec

Vietnams Vietcombank Adopts New SWIFT Code for Global Transfers note The Original Article Title Appears to Reference JOINT STOCK COMMERCIAL VICTORIABANK but vietcombank vietnam Joint Stock Commercial Bank for Industry and Trade Is a More Rec

This article introduces the SWIFT/BIC code VICBMD2XXXX of JOINT-STOCK COMMERCIAL VICTORIABANK, detailing its components and significance. Understanding this code helps users ensure the security and efficiency of funds during international transfers.

08/21/2025 International Settlement
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Enhancing Passenger Travel Experience Urumqi International Airport's Intelligent Upgrade

Enhancing Passenger Travel Experience Urumqi International Airport's Intelligent Upgrade

Urumqi International Airport is enhancing the travel experience for passengers through the upgrade of intelligent facilities. The newly added automatic verification channels will significantly improve security check efficiency, allowing travelers to simply place their boarding passes into the channel, where the system will automatically read the information, speeding up the process. Over the past year, the airport has introduced new devices and service robots to further shorten security check times. The implementation of automatic verification channels will make travel more convenient and secure for passengers.

07/22/2025 Logistics Encyclopedia
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Breakthrough in Railway Freight Transportation Optimizes Logistics Costs Against Waterway Competition

Breakthrough in Railway Freight Transportation Optimizes Logistics Costs Against Waterway Competition

Zhongtian Iron and Steel Group Co., Ltd. has recently transitioned from waterway to railway transportation, successfully dispatching 42 freight cars to Ningbo. The new pricing policy by China Railway Corporation, which charges based on actual weight, has provided significant logistics cost advantages for the company. The Nanjing Freight Center has offered customized solutions, reducing overall expenses. The high timeliness and stability of railway transport have led Zhongtian Steel to shift more cargo to rail, which is expected to enhance its overall logistics management efficiency.

07/21/2025 Logistics
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Lanzhou Dongchuan Railway Logistics Center Officially Opens: Promoting the Development of the Silk Road Economic Belt

Lanzhou Dongchuan Railway Logistics Center Officially Opens: Promoting the Development of the Silk Road Economic Belt

The Lanzhou Dongchuan Railway Logistics Center officially opened on December 31, marking its successful integration with domestic and international trade markets. This new project, which includes the Dongchuan Railway Freight Center and Lanzhou Railway Comprehensive Cargo Yard, lays the foundation for improved regional logistics efficiency. With a layout of 'two zones and five parks,' the expected cargo throughput by 2020 is projected to reach 7.08 million tons, with a forecast of 15.42 million tons by 2030, further promoting the development of the Silk Road Economic Belt.

12/31/2023 Logistics
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South Korean Shipping Companies Tackle Challenges: The Competitive Path of Large Container Ships

South Korean Shipping Companies Tackle Challenges: The Competitive Path of Large Container Ships

As competition intensifies in the global shipping market, South Korean shipping companies urgently need to acquire ultra-large container ships to reduce costs and enhance their market competitiveness. However, liquidity issues and financing difficulties complicate this goal. Additionally, overcapacity in the industry and falling freight rates pose challenges to profitability. Regulatory authorities oppose the merger of two companies, citing potential negative impacts on the overall economy. In the future, businesses must find a breakthrough between new ship investments and market adaptation, with hopes for a recovery.

07/21/2025 Logistics
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Transforming Customs Declarations Enhancing Trade Efficiency and Regulation in China

Transforming Customs Declarations Enhancing Trade Efficiency and Regulation in China

This article provides a detailed analysis of the key changes between the old and new customs declarations, emphasizing the impact of removed and added content on businesses. The removal of items like the original approval number and settlement certificate aims to simplify the declaration process. The addition of special relationship confirmation and a unified social credit code further enhances tax management and trade transparency. Changes in naming and optimization of product categories improve overall operational convenience, contributing to the continuous improvement of the trade environment.

07/28/2025 Customs Knowledge
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