ICS, WSC and ECSA provide comments in response to the questions posed for discussion by paper E/C.18/2023/CRP44. These comments reflect the written submission made by the cosponsors on 1 May 2023,
The Chairman of the International Chamber of Shipping (ICS), Mr Masamichi Morooka, has written to the Chinese Minister of Finance, encouraging the Chinese Government to continue its efforts to find a solution to the problems created by the application of Value Added Tax (VAT), since 1 August, to the transport and logistics services provided by ‘Wholly Foreign Owned Shipping Companies’.
The European Commission's (EC) decision to end the Consortia Block Exemption Regulation (CBER) for shipping in April 2024 will not put an end to Vessel Sharing Agreements (VSAs) but industry figures raise uncertainties over costs and administrative complications, which could reshape how VSAs are undertaken.
Co-operative shipping agreements between liner shipping companies have existed for over a century. The majority of major trading nations continue to acknowledge the importance of containership operators being permitted to share cargo through Vessel Sharing Agreements (VSA), increasing their service offerings and maximising efficiency in terms of frequency, reliability, quality and price.
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned today that avoiding overcapacity and unsustainably low freight rates is still a major challenge ten years after the massive downturn of 2008.