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week 38 seaway market

1. Advance Cargo Information Declaration for the cargo arriving in Egypt In accordance with the Egypt Ministry of Finance reference to Decision No. 328 of 2021 amending some provisions of Resolution No. 38 of 2021, there is an extension to the Advance Cargo Information Declaration (ACID) Implementation by three months. The regulations are now scheduled to go live from 1st October 2021 instead of earlier announced date of 1st July 2021. ACI will be strictly required for all import shipments and carriers will be obliged by law to validate ACI related information prior loading from the first load port.

2. Chinese August exports up 29pc, tops 17pc experts forecast CHINA's exports increased more than expected in August, brushing aside the impact of a global resurgence of Covid-19, port congestion and supply bottlenecks, reports The Wall Street Journal. According to the General Administration of Customs, China's outbound shipments rose 25.6 per cent in August from a year earlier, higher than the 19.3 per cent increase in July. The result also comfortably topped the 17 per cent increase expected by economists polled by The Wall Street Journal. Shipments to each of China's major trading partners increased at a faster year-on-year pace in August than in July. Exports to the European Union jumped 29.4 per cent in August from a year earlier, accelerating from July's 17.2 per cent rise, while shipments to the Association of Southeast Asian Nations and the US rose by 16.6 per cent and 15.5 per cent, respectively.

3.A Korean Container Shipping Alliance (K-Alliance) set to launch in 2021 Five South Korean liner operators began their code-sharing arrangement on intra-Asia routes on 1 September. HMM, SM Line Corporation, Pan Ocean, Sinokor Merchant Marine and Heung-A Line have started joint intra-Asia services under the K-Alliance that was engineered by the Ministry of Oceans and Fisheries (MOF) and state-backed ship finance provider Korea Ocean Business Corporation last year. The K-Alliance members plan to collect cargoes in Asia for transshipping to the US and Europe. South Korean liner operators have around 200,000TEU of capacity in the intra-Asia segment, but with more newbuilding orders, expect to increase this to 250,000TEU in 2025.

4. Shanghai typhoon may result in week-long cargo delays Since Sep.12, the typhoon led to the temporary closure of both ports, the impact has been longer lasting, creating queues of ships waiting to load and unload, which is having a knock-on effect on sailing schedules that are already disrupted.

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