Welcome to our May news brief.
At FJT Logistics, we are experiencing a sense of synergy, camaraderie, and energy, as we bring our teams back into the office environment after an extended period of working remotely.
We are proud of the resilience and efforts of our team to work remotely in a cohesive manner, maintaining their client-centric approach, but certainly there is a feeling of ‘getting the band together’.
From what we hear from our customers, this is a positive experience that they too are going through.
There is some positive industry news covered in this month’s news brief, such as the upcoming Free Trade Agreement with Indonesia, and the rail transformation project in the Port of Melbourne.
There is still uncertainty ahead for global trade, and there are influencing factors that are beyond our control, as an industry, as a country.
What we can control is how we approach these challenges, and we look forward to working with our valued business partners on the challenges and opportunities ahead.
We are ready.
PORT OF MELBOURNE TRANSFORMATION
RAIL PROJECT UPDATE
We have been advised by Freight & Trade Alliance (FTA) that Port of Melbourne’s Rail Transformation Project is set to go ahead.
The $125 million project will include a new rail operating inside the port that will provide an alternative way to moving containers that are currently only moved by trucks.
Effective 1 June 2020 there will be a tariff of $9.75 per TEU on full import containers to help fund the rail project.
Please refer here to the media release on the project.
Indonesia – Australia Comprehensive Economic Partnership Agreement
The Indonesia Government have ratified the Indonesia – Australia Comprehensive Economic Partnership Agreement which has an expected commencement date of 6 July 2020.
The Indonesian Free Trade Agreement (FTA) will apply to goods in transit, or which have been cleared for entry, on the date of commencement.
There will be significant benefits to Australian exporters.
Indonesia will be implementing the declaration of origin system, with a possibility for declarations to be issued post importation that can facilitate refunds where a declaration or certificate of origin was available at the time of import.
Click here for further detail in Russell Wiese’s article in Across Borders Autumn 2020 edition.