General

Import and export commodities must be inspected for customs adjustment

On June 3, 2021, the General Administration of Customs issued Announcement No. 39 of 2021. Starting from June 10, 2021, the list of import and export commodities subject to inspection will be adjusted:

According to the "Law of the People's Republic of China on Import and Export Commodity Inspection" and its implementation regulations, the General Administration of Customs has decided to adjust the catalog of import and export commodities that must be inspected. The announcement is as follows:

1. The supervision condition "A" will be cancelled for 234 10-digit customs commodity codes involving mechanical and electrical products, metal materials, chemicals, and artificial ornaments, and the customs will no longer implement imported commodity inspections on related commodities.

2. The supervision condition "A" is added to the eight 10-digit customs commodity codes involving imported recycled raw materials, and the customs conducts import commodity inspections on related commodities.

3. The customs supervision condition "B" is added to 24 10-digit customs commodity codes involving exported billets and pig iron, and the customs shall conduct export commodity inspections on related commodities.

This announcement will be implemented on June 10, 2021. See the attachment for the adjusted regulatory requirements.

Special announcement.

Attachment: Adjustment Table of Import and Export Commodity Catalogues that Must be Inspected

General Administration of Customs

June 1, 2021

Attachment: Adjustment table of import and export commodity catalogues that must be inspected:

Maersk CEO: levied 450 US dollars / ton of fuel tax

According to Lloyd’s Daily, Maersk CEO Søren Skou stated on June 2 that in order to accelerate the globalization of zero-carbon fuel, the shipping industry should levy a fuel tax of at least US$450/ton, which is equivalent to one per ton of fuel. Tons of carbon dioxide, a carbon tax of about US$150 is levied.

Maersk said that the purpose of this tax is to bridge the gap between the fossil fuels currently consumed by ships and the more expensive green alternatives. If estimated based on the current fuel price in the market, the fuel cost after the tax increase will double. Fan.

In terms of implementation, Maersk stated that price growth will take a gradual transitional approach. For example, the carbon tax can be gradually increased from US$50/ton to at least US$150/ton over time.

Maersk Group is the world's largest buyer of marine fuel, controlling approximately 8% of the world's total marine fuel. Based on current fuel prices, this tax will double fuel expenditures. However, in a webinar hosted by the World Economic Forum on May 27, Skou pointed out that for Maersk, the additional billions of dollars in fuel costs each year will only become a few cents of additional consumer spending.

In addition, Maersk’s largest customers are setting science-based emission targets for their supply chains, and they are also looking for solutions. "We think this is a market opportunity, not a cost issue," he said.

In order to ensure that low-carbon options are competitive, Skou called on the International Maritime Organization to enforce a "level playing field" in the form of a uniform bunker tax. "Today we know what the (future fuel) solution will be. It will be some combination of methanol and ammonia," Skou said. "We know it will be more expensive, so the carbon tax is meaningful to us, and we call for implementation in the last five years of this decade."

He emphasized that any market-based measures to encourage green fuels must take into account the entire life cycle of greenhouse gas emissions, especially methane.

Skou said: "I say this because I am worried about the rumors about LNG." "This is not a solution. We should no longer talk about LNG as something related to (addressing) climate change."

When natural gas wells, pipelines, and processing equipment leak, methane has a higher warming potential than carbon dioxide. These emissions are fiercely debated and are largely beyond the control of the maritime industry. However, proponents of LNG as a marine fuel point out that over time, it may replace the supply of biomethane and e-methane. Eliminate traditional natural gas while continuing to use LNG refueling infrastructure.