Why Container Shipping Prices Have Been Increasing in 2022

November 11, 2021

Container Rates Continue to Set New Highs in 2021

Between 2016 and 2020, container rates while fluctuating never exceed $3,000 according to Drewry Shipping Consultant’s data. Rates, however, have been on a steady increase since last summer and the beginning of the recovery from the lows of the pandemic. Drewry’s composite exceeded $5,000 for the first time in 2021 and on one of the hardest high routes, China to Rotterdam, the rate has just exceeded $10,000 for the first time.

Average Cost from London October 2021

Destination Port	20ft Container Cost	40ft Container Cost
New York, USA	£2,445 (GBP)	£4,389 (GBP)
Los Angeles, USA	£3,227 (GBP)	£3,938 (GBP)
Sydney, AUS	£2,108 (GBP)	£3,160 (GBP)
Melbourne, AUS	£2,108 (GBP)	£3,160 (GBP)
Auckland, NZ	£2,108 (GBP)	£3,160 (GBP)
Montreal, CAN	£3,442 (GBP)	£4,563 (GBP)
Vancouver, CAN	£3,136 (GBP)	£3,925 (GBP)
Le Havre, FRA	£1,304 (GBP)	£2,150 (GBP)
Barcelona, ESP	£2,009 (GBP)	£2,620 (GBP)
Amsterdam, NLD	£1,304 (GBP)	£2,150 (GBP)
Hamburg, GER	£1,302 (GBP)	£1,561 (GBP)
Dublin, IRE	£1,424 (GBP)	£1,890 (GBP)
Jebel Ali, UAE	£2,394 (GBP)	£3,177 (GBP)
Genoa, ITA	£1,909 (GBP)	£2,514 (GBP)
Lisbon, POR	£2,009 (GBP)	£2,621 (GBP)
Stockholm, SWE	£1,016 (GBP)	£1,350 (GBP)
Mumbai, IND	£3,064 (GBP)	£4,064 (GBP)
Singapore, SIN	£3,526 (GBP)	£4,679 (GBP)
Limassol, CYP	£2,009 (GBP)	£2,621 (GBP)
Copenhagen, DEN	£1,348 (GBP)	£1,787 (GBP)
Thessaloniki, GRE	£2,009 (GBP)	£2,621 (GBP)
Manila, PHL	£3,526 (GBP)	£4,679 (GBP)
Hong Kong, HKG	£3,234 (GBP)	£4,290 (GBP)
Cape Town, SAF	£2,246 (GBP)	£3,456 (GBP)
Shanghai, CHI	£2,906 (GBP)	£3,856 (GBP)

are shipping rate going to keep increasing in 2022?

Shipping costs are continuing to rise despite some carriers suspending rate increases and investigations by competition regulators, with the price for ocean freight on popular routes up by more than 500% in the last year.

The pandemic affected global supply chains in 2020, and shipping prices reflect that. With prices estimated to remain at these levels until 2023, both ecommerce businesses and other small businesses should consider diversifying their fulfillment options to reduce shipping costs in the near term.

The average price for a 40-foot container stands at US$10,374.64 as of September 16, an increase of 2.9% on the previous week and 323% higher than a year ago, according to the Drewry World Container Index, which tracks the cost of containers. It marks the 22^nd consecutive week of increases.

According to the latest market intelligence from Xeneta’s Long-Term XSI Public Indices, which crowdsources rates from leading shippers and freight forwarders, the global benchmark has risen by 34.5 percent since the start of 2021. Its data shows that all major trade corridors have seen rate growth, and much of it spectacular, across the first five months of 2021. Xeneta says Far East export and European imports are leading the way with both up by over 50 percent in 2021.

Hapag-Lloyd said they froze rates because they had hit their peak, while CMA CGM said it was prioritizing its long-term relationship with customers given the “unprecedented situation in the shipping industry.”

Companies are driving up the cost of shipping by competing for limited space on the worlds’ container ships. While snarled supply chains have raised some operational costs, Heaney said, carriers are “making more money than they ever have,” with revenue far outpacing the uptick in costs.

Shipping Companies Competition probes 2021

As global supply chains come under increasing pressure from shipping costs, regulators are investigating the price surge. The Australian Competition and Consumer Commission has launched an investigation in Australia into whether there has been a breach of competition laws in relation to containers.

In the US, the Federal Maritime Commission (FMC), a government agency tasked with regulating ocean transport, said in August it had launched an inquiry into the timing and legal sufficiency of ocean carrier practices with respect to certain surcharges.

As part of the probe, eight ocean carriers have been asked to provide the Commission’s Bureau of Enforcement with details about congestion or related surcharges they have implemented or announced. The companies contacted are CMA CGM, Hapag-Lloyd, HMM, Matson, MSC, OOCL, SM Line and Zim.

During the Global Regulatory Summit hosted by the European Commission on September 7, counterparties from the US, Europe and China met to discuss competition issues related to the shipping industry.

“The performance of ocean carriers in meeting historic demand for their services and the unusually high costs to move ocean containers are of interest and concern to regulators, legislators, and the public globally,” said FMC chairman Daniel Maffei, speaking at the event.

Earlier this year, shippers and freight forwarders in Europe called on the European Commission to investigate the practices of maritime carriers.

In a letter to the Competition Directorate of the European Commission, the European Freight Forwarders Association and the European Shippers’ Council urged the body to look into issues related to the violation of existing contracts, the establishment of unreasonable conditions concerning bookings and the unilateral setting of rates in excess of those agreed in contracts.

A spokesperson for the European Commission tells GTR: “Commission services are in contact with… agencies and are in regular exchange with market participants to fully understand the current circumstances and identify any scope for intervention that can facilitate return to normal operations. At this stage, the Commission has not received evidence, or identified anti-competitive behaviour from shipping alliances in relation to these price hikes, but will continue its very close monitoring of the sector.”

The Importance and History of Belfast, North Ireland

Mehmet S. Kaya

November 6, 2021

What is the population, Location and Religion Of Belfast?

Population
Location
Religion
Population

Belfast’s 2021 population is now estimated at 634,594.

Location

Belfast is the capital city of Northern Ireland. It is located on the River Lagan at its entrance to Belfast Lough.

Religion

Catholic	40%
Protestant and other Christian	49.5%
Other	8.7%

Belfast

What famous ship was built in Belfast?

In 1912, RMS Titanic sailed out of Belfast Lough to embark on her maiden voyage. Discover the story that has captured the hearts of people all over the world

Is Belfast part of the United Kingdom or the Republic of Ireland?

Belfast is in Northern Ireland, which is part of the United Kingdom. Belfast is in located in the northeastern quadrant of the island of Ireland; it is not part of the Republic of Ireland.

Who established the city of Belfast?

Though the site of Belfast has been occupied since the Stone Age, its modern history began in 1611 when Baron Arthur Chichester built a new castle there. He did much to encourage the growth of Belfast, which received a charter of incorporation in 1613.

Belfast, Irish Béal Feirste, city, district, and capital of Northern Ireland, on the River Lagan, at its entrance to Belfast Lough (inlet of the sea). It became a city by royal charter in 1888.

After the passing of the Government of Ireland Act, 1920, it became the seat of the government of Northern Ireland. The district of Belfast has an area of 44 square miles (115 square km).

History

The site of Belfast was occupied during both the Stone and Bronze ages, and the remains of Iron Age forts are discernible on the slopes near the city centre. A castle, probably built there about 1177 by John de Courci, the Norman conqueror of Ulster, seems to have survived until the beginning of the 17th century.

The city’s name is derived from the Gaelic Béal Feirste (Mouth of the Sandbank [or Crossing of the River]). Belfast’s modern history began in 1611 when Baron Arthur Chichester built a new castle there. He did much to encourage the growth of the town, which received a charter of incorporation in 1613. Belfast survived the Irish insurrection of 1641, and by 1685 it had a population of about 2,000, largely engaged in brick, rope, net, and sailcloth making.

By the late 1730s the castle had been destroyed, but Belfast was beginning to acquire economic importance, superseding both Lisburn as the chief bridge town and Carrickfergus as a port. It became the market center of the Ulster linen industry, developed by French Huguenot refugees under the patronage of William III of Great Britain at the end of the 17th century.

Attempts to establish a cotton industry there were short-lived, but following mechanization of the spinning and weaving of linen, Belfast became one of the greatest linen centers in the world.

By the 17th century, the town was a busy port with small shipbuilding interests, which became firmly established after William Ritchie founded a shipyard (1791) and a graving (dry) dock (1796). Since the Industrial Revolution, the chief shipbuilding firm has been Harland and Wolff (builders of the ill-fated Titanic).

The city was severely damaged by air raids in 1941 during World War II. Beginning in the 1970s, Belfast’s traditional manufacturing specialties, linen and shipbuilding, began a long decline.

These sectors are now overshadowed by service activities, food processing, and machinery manufacture.

Belfast On map

A Roman Catholic civil rights campaign was inaugurated in Ulster in 1968, and from 1969 street riots and increasing violence took place in Belfast.

After British troops were called in to police Catholic-Protestant disorders, the riots were marked by an increased use of firearms and bombs by both Catholic and Protestant extremists and by the slaying of civilians, police, and soldiers.

Unremitting violence continued into the 1990s, but a tentative cease-fire in 1994 and the Good Friday Agreement (Belfast Agreement) of 1998 brought an end to the fighting. Since the conclusion of the peace accord, Belfast has attracted considerable investment, and its economy has improved.

In 2000, Northern Ireland’s new regional legislature and government took office in suburban Stormont.

Importance

The city is the shopping, retail, educational, commercial, entertainment, and service centre for Northern Ireland and the seat of many of its largest businesses and hospitals.

Educational institutions in Belfast include Queen’s University at Belfast (founded in 1845 as the Queen’s College), the University of Ulster at Belfast (1849), and Union Theological College (1853). Tourist attractions include the Grand Opera House, Donegall Square, Crown Liquor Saloon, Ulster Museum, Botanic Gardens, Belfast Zoo, and Titanic Belfast, a museum inaugurated in 2012 to commemorate the centenary of the sinking of the famous ship.

Buildings and walls throughout the city are adorned with murals that reflect the city’s social, cultural, and political traditions and history. From the city’s airport at Aldergrove, 13 miles (21 km) northwest, services are maintained with some principal international cities. Belfast is Northern Ireland’s chief port, and there are ferry services to Liverpool in England, Stranraer in Scotland, and Douglas on the Isle of Man.

Belfast suffered a pronounced population decline during the 1970s and ’80s as a result of the sectarian violence and a loss of manufacturing jobs; however, its population began to stabilize during the 1990s. Pop. (2001) 328,617; (2011) 333,871.

The Importance and History of Belfast, North Ireland-min — Image: Unsplash – Belfast

How much is the Custom Duty in Turkey

Mehmet S. Kaya

November 3, 2021

Charges for Import and export from Turkey

Importation of goods and services is a taxable transaction, whether or not the importation is made for business purposes.

You may find custom tariff rates of Turkey here.

Export transactions are exempt from VAT, and credit and refund is available for input VAT for the export goods.

All the goods, other than those whose exportation is prohibited by laws, decrees and international multilateral and/or bilateral agreements, can be freely exported within the framework of the Export Regime Decree.

Goods to be exported from the Customs Territory of Turkey are declared to the authorized customs administration by the customs declaration.

Documents like oral declaration form, special invoice, victual list can also be used for the declaration of export, besides customs declaration.

Turkish Tariff Nomenclature (HS Code)

The twelve digit code used in Turkish Tariff Nomenclature is called “Customs Tariff Statistics Positions (GTIP)”. The first six digits of this code indicate Harmonized System (HS) code, which is used within the World Customs Organization member countries, 7-8th digits indicate Combined Nomenclature Code, which is used within the European Union Member Countries, 9-10th digits indicate national subheadings which has opened because of our country’s different tax applications, and 11-12th digits indicate the statistical codes.

For example;
                       540761             90                         90                                    11
                      HS Code       CN Code       National Subheading           Statistical Code

Importation of goods and services

For VAT purposes, any importation of goods or services into Turkey is a taxable transaction, regardless of the status of the importer or the nature of the transaction. To equalise the tax burden on importation and domestic supply of goods and services, VAT is levied only on the importation of goods and services that are liable to tax within Turkey.

Accordingly, any transaction exempt in Turkey may also be exempt on import. The VAT on importation is imposed at the same rates applicable to the domestic supply of goods and services.

In the case of importation, the taxable event occurs at the time of actual importation. Importation of machinery and equipment under an investment incentive certificate (IIC) is exempt from VAT.

How much is the Custom Duty in Turkey-min — Image: unsplash

Importing from Turkey and customs in the EU

Even though Turkey is not a member of the EU, in 1995 it became a part of the European Union Customs Union. What it means is that in most cases importers from Turkey to the EU do not need to pay customs. This can be clearly seen on the website of TARIC – Integrated Tariff of the European Communities. There, custom codes and customs rates for all EU countries are available. When you find the category of product you are interested in (e.g. with the help of browsing or a textual search), click on its HS code. By clicking “retrieve the measures,” you will be on the product’s site.

Value-added tax (VAT) in Turkey

Deliveries of goods and services are subject to VAT at rates varying from 1% to 18%. The general rate is 18%.

VAT payable on local purchases and on imports is regarded as ‘input VAT‘, and VAT calculated and collected on sales is considered ‘output VAT‘. Input VAT is offset against output VAT in the VAT return filed at the related tax office. If output VAT is in excess of input VAT, the excess amount is paid to the related tax office. Conversely, if input VAT exceeds output VAT, the balance is carried forward to the following months to be offset against future output VAT. With the exception of a few situations, such as exportation and sales to an investment incentive holder, there is no cash refund to recover excess input VAT.

Turkish VAT principles contain a ‘reverse-charge VAT mechanism’, which requires the calculation of VAT by resident entities on payments to persons in foreign countries. Under this mechanism, VAT is calculated and paid to the related tax office by the resident entity. The resident entity treats this VAT as input VAT and offsets it in the same month. This VAT does not create a tax burden for the resident or non-resident entity, except for its cash flow effect on the former if there is insufficient output VAT to offset the input VAT.

VAT is also collected at the point of import. The VAT rate is the same rate as the one that is applied for transactions in the country of origin. The base for VAT is the value of the goods for customs tax purposes plus any kind of tax payable at the point of import and all the expenses incurred until the single administrative document is registered.

Export Regime

Export Regime is the regime underwhich the goods in free circulation are taken out of Customs Territory of Turkey with the purpose of export.

Returned Goods

If the goods in free circulation which, having been exported from the Customs Territory of Turkey or from another point of the customs territories of the customs union to which Turkey is a party, are returned to that territory and re-released for free circulation within a period of three years, they obtain the returned goods status. The returned goods, upon request of the declarant, are relieved from import duties only if the goods are reimported in the state in which they were exported. The three-year period may be exceeded due to unforeseeable conditions and force majeur.

The relief from import duties can not be granted in the case that:
(a) The exported goods couldn’t be released for free circulation or be assigned of a customs-approved treatment or use due to the rules in force in the country of destination.
(b) The exported goods are rejected by the importer since they are defective or do not comply with the terms of the contract,
(c) The exported goods couldn’t be assigned of a treatment or use intended because of unavoidable reasons.

And the proof of the circumstances by the documents, which are received from the buyer or authorized bodies out of the Customs Territory of Turkey, is required.

Goods taken out of Customs Territory of Turkey

Goods, taken out of the Customs Territory of Turkey, are subject to the customs control and they are exported through predetermined routes under supervision of the customs administration.
For the goods which are to be taken out of the Customs Territory of Turkey, a customs declaration or where lodging a customs declaration is not required a summary declaration is lodged at the customs administration of exit.

The exit summary declaration is lodged by the carrier. Notwithstanding the obligations of the carrier, the exit summary declaration may be lodged instead by one of the following persons:
(a) The exporter or consignor or other person in whose name or on whose behalf the carrier acts,
(b) Any person who is able to present the goods in question or have them presented at the customs administration of exit.
In addition, an exit notification is lodged by the carrier or the representative of the carrier at the customs administration of exit.

Need Help Importing Products From Turkey?

Albatross Shipping LTD UK can provide verified suppliers in Turkey with collaborating branch. We can cross verify products in Turkey and help you importing from Turkey to United Kingdom. If you are already existing importer from Turkey then contact us to get verified source in Turkey to gain competitive advantages for your business.

Best Products To Import from India to United Kingdom

Mehmet S. Kaya

October 31, 2021

What are the best products to import from India in 2022?

Exports play a valuable role in increasing the profits of a country. Indian exports have increased over the years that have enhanced economic growth to a great extent.

India distributes essential goods and products to other countries, including vehicles, pharmaceuticals, petroleum, jewelry, among others that are the most exported products from India.

India imported US$368 billion worth of goods from around the globe in 2020, up by 3.2% since 2016 but down by -23.2% from 2019 to 2020.

Based on the average exchange rate for 2020 on a Purchasing Power Parity basis, the Indian rupee dropped by -7.3% against the US dollar since 2016 and depreciated by -0.3% from 2019 to 2020. India’s weaker local currency makes India’s imports paid for in stronger US dollars in 2020 relatively more expensive when converted starting from Indian rupees.

The following product groups represent the highest dollar value in India’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into India.

Mineral fuels including oil: US$104.4 billion (28.4% of total imports)
Electrical machinery, equipment: $42.9 billion (11.7%)
Gems, precious metals: $41 billion (11.2%)
Machinery including computers: $35.2 billion (9.6%)
Organic chemicals: $18.2 billion (4.9%)
Plastics, plastic articles: $12 billion (3.3%)
Animal/vegetable fats, oils, waxes: $10.6 billion (2.9%)
Optical, technical, medical apparatus: $8.2 billion (2.2%)
Iron, steel: $7.6 billion (2.1%)
Fertilizers: $7.2 billion (2%)

Cereals

Cereals are one of the best products to export from India to countries like Iraq, Saudi Arabia, Iran, and UAE.

These countries import rice in huge quantities. The government offers highly competitive prices for the most exported products in India to importing nations to increase rice export from India.

Pharmaceutical Products

Indian Pharmaceutical products rank 10th among the value of global products. India is a major exporter of western countries including the United States.

Textile goods

Textile products have gained a drastic performance in export business. US comes at 6th position in this business include Saddlery goods made of textile, good stable blankets, rain sheet.

Petroleum Products

Petroleum products are ranked among the top products for export from India. Although exporting petroleum products needs huge investment and hard work, these have a huge demand in small developing nations like Nepal, Myanmar, Bangladesh, Bhutan, etc.

India top export products include semi-products made of petroleum such as charcoal, coal, wax, coke, and many others that have a huge demand and good margin returns.

Traditional Handicrafts

Indian handicrafts and traditional products are popular across the globe. These products are available at cheaper rates when converted into Indian rupees. This makes exporting traditional handicraft the best product for export from India. Besides, it has a great demand in foreign countries. Markets like Europe and western countries makes perfect location where they are sold in fare as well as online. This industry requires very less investment but only a good network with local artisans thereby making it a huge margin for profits sold at higher rates in other countries.

Spices

A variety of spices has been exported to United States including assorted spices, processes spices, white pepper, coriander seeds, coriander powder, mustard seeds, fennel seeds, other powder of other spices like MDH masala, Fenugreek leaves(MDH kasuri methi).

Machinery

Different machinery parts are exported from India which majorly includes the agricultural machinery parts, textile twister machinery spare parts, cooler parts for cement machinery, compressor machinery parts (like for spring, valve center bolt).

Dairy Products

India has a huge profit in exporting dairy products. The milk of Bos indicus cow breed is in huge demand in the United States and other countries.

Dairy products made of Bos indicus cow is sold four times the rate offered for products of local cows. Products like cheese, ghee, and curd add among the most exported products from India that brings on huge returns.

Need help Importing Products ?

Albatross Shipping LTD UK can provide verified suppliers in India. We can cross verify products in India and help you importing from India to United Kingdom. If you are already existing importer from India then contact us to get verified source in India to gain competitive advantages for your business.

How to Write A Commercial Invoice For Import and Export

Mehmet S. Kaya

October 29, 2021

COMMERCIAL INVOICE INSTRUCTIONS

1. SELLER – Name and address of principal party responsible for effecting export from the Unites States. The Exporter as named on the exporter license (if applicable.

2. SOLD TO – The name and address of the person/company to whom the goods are shipped to for the designated end use, or to the party so designated on the export license.

3. SHIP TO – If different than Sold To)The intermediate consignee – that is the name and address of the party who effects delivery of the merchandise to the ultimate consignee, or the party so named on the export license of the forwarding agent. The name and address of the duly authorized forwarder acting as agent for the exporter.

4. INVOICE NUMBER – Invoice number assigned by the exporter.

5. CUSTOMER REFERENCE NUMBER – Oversees customer’s reference number.

6. TERMS OF SALE – Delivery and terms of sale agreement.

7. TERMS OF PAYMENT – Terms, conditions, and currency of settlement as agreed upon by the vendor and purchaser per the pro forma invoice, customer purchase order and/or the letter of credit.

8. CURRENCY OF SETTLEMENT – Currency agreed upon between seller and buyer as payment.

9. MODE OF SHIPMENT – Indicate air, ocean, and surface.

10. QUANTITY – Record total number of units per description line.

11. DESCRIPTION – Provide full description of items shipped, the type of container, (carton, box, etc.) the gross weight per container, and the quantity and unit of measure of the merchandise.

12. UNIT OF MEASURE – Record total net weight and total gross weight in kilograms (1 kilogram = 2.2 pounds) per description line.

13. UNIT PRICE – Record the unit price of the merchandise per unit of measure.

14. TOTAL PRICE – Calculate the extended value of the line.

15. TOTAL COMMERCIAL VALUE – Total value of the invoice.

16. PACKAGE MARKS – Record in this field and on each package number (for example, “1 of 7,””3 of 7”) shippers company name, country of origin (e.g., Made in USA), destination port of entry, package weight in kilograms, package size (length x width x height) and shipper’s control number (optional).

17. MISCELLANEOUS CHARGES – Charges (packing, insurance, etc. Record any miscellaneous charges that are to be paid by customer, such as export transportation, insurance, export packaging inland freight to peer, etc.).

18. CERTIFICATIONS – Any certifications or declarations required of the shipper regarding any information recorded on the commercial invoice.

Commercial invoice requirements when clearing or filing entry documents with U.S. Customs and Border Protection

The commercial invoice, or the documentation acceptable in place of a commercial invoice, shall be submitted with the entry and before release of the merchandise is authorized. The commercial invoice or other acceptable documentation shall contain:

An adequate description of the merchandise.
The quantities of the merchandise.
The values or approximate values of the merchandise.
The appropriate eight-digit subheading from the Harmonized Tariff Schedule of the United States.

The port director may waive this requirement if he is satisfied that the information is not available at the time release of the merchandise is authorized.

The name and complete address of the foreign individual or firm who is responsible for invoicing the merchandise, ordinarily the manufacturer/seller, but where the manufacturer is not the seller, the party who sold the merchandise for export to the United States or made the merchandise available for sale.

Information not required when filing entry. The commercial invoice or substitute document filed with the entry documentation also may include any other invoice information required. However, if the information does not appear on the invoice or substitute document filed with the entry documentation, it shall be included in the invoice or substitute document delivered at the time the entry summary documentation is filed.

How to Write A Commercial Invoice For Import and Export-min — Image: Unsplash

Commercial Invoice Requirement in Details For USA

A commercial invoice, signed by the seller or shipper, or his agent, is acceptable for CBP purposes if it is prepared in accordance with Section 141.86 through 141.89 of the CBP Regulations, and in the manner customary for a commercial transaction involving goods of the kind covered by the invoice.

Importers and brokers participating in the Automated Broker Interface may elect to transmit invoice data via the Automated Invoice Interface or EDIFACT and eliminate the paper document. The invoice must provide the following information, as required by the Tariff Act:

The port of entry to which the merchandise is destined
If merchandise is sold or agreed to be sold, the time, place, and names of buyer and seller; if consigned, the time and origin of shipment, and names of shipper and receiver,
A detailed description of the merchandise, including the name by which each item is known, the grade or quality, and the marks, numbers, and symbols under which it is sold by the seller or manufacturer to the trade in the country of exportation, together with the marks and numbers of the packages in which the merchandise is packed,
The quantities in weights and measures,
If sold or agreed to be sold, the purchase price of each item in the currency of the sale,
If the merchandise is shipped for consignment, the value of each item in the currency in which the transactions are usually made, or, in the absence of such value, the price in such currency that the manufacturer, seller, shipper, or owner would have received, or was willing to receive, for such merchandise if sold in the ordinary course of trade and in the usual wholesale quantities in the country of exportation
The kind of currency,
All charges upon the merchandise, itemized by name and amount including freight, insurance, commission, cases, containers, coverings, and cost of packing; and, if not included above, all charges, costs, and expenses incurred in bringing the merchandise from alongside the carrier at the port of exportation in the country of exportation and placing it alongside the carrier at the first U.S. port of entry. The cost of packing, cases, containers, and inland freight to the port of exportation need not be itemized by amount if included in the invoice price and so identified. Where the required information does not appear on the invoice as originally prepared, it shall be shown on an attachment to the invoice,
All rebates, drawbacks, and bounties, separately itemized, allowed upon the exportation of the merchandise,
The country of origin,
All goods or services furnished for the production of the merchandise not included in the invoice price.

Additional Requirements for Commercial Invoice

If the merchandise on the documents is sold while in transit, the original invoice reflecting this transaction and the resale invoice or a statement of sale showing the price paid for each item by the purchaser shall be filed as part of the entry, entry summary, or withdrawal documentation

The invoice and all attachments must be in the English language, or shall be accompanied by an accurate English translation.

Each invoice shall state in adequate detail what merchandise is contained in each individual package.

If the invoice or entry does not disclose the weight, gauge, or measure of the merchandise necessary to ascertain duties, the importer of record shall pay expenses incurred to obtain this information prior to the release of the merchandise from CBP custody.

Each invoice shall set forth in detail, for each class or kind of merchandise, every discount from the list or other base price that has been or may be allowed in fixing each purchase price or value.

Pro-Forma Invoice

Pro Forma Invoice If the required commercial invoice is not filed at the time the merchandise is entered, a statement in the form of an invoice (a pro forma invoice) must be filed by the importer at the time of entry.

A bond is given for production of the required invoice not later than 120 days from the date of the entry summary, or entry if there is no entry summary.

If the invoice is needed for statistical purposes, it must generally be produced within 50 days from the date on which the entry summary is required to be filed. The exporter should bear in mind that unless he or she forwards the required invoice in time, the American importer will incur a liability under his bond for failure to file the invoice with the port director of CBP before the 120-day period expires.

Although a pro forma invoice is not prepared by the exporter, it is of interest to exporters as it gives a general idea of the kind of information needed for entry purposes. A pro forma invoice indicates what the importer may find necessary to furnish CBP officers at the time a formal entry is filed for a commercial shipment, if a properly prepared CBP or commercial invoice is not available at the time the goods are entered.

An acceptable format for a pro forma invoice is reproduced in the appendix. Some of the additional information specified for the commodities under section 141.89 of the CBP Regulations may not be required when entry is made on a pro forma invoice.

However, the pro forma invoice must contain sufficient data for examination, classification, and appraisement purposes

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Albatross Shipping UKShipping Agency

Container Rates Continue to Set New Highs in 2021

Average Cost from London October 2021

are shipping rate going to keep increasing in 2022?

Shipping Companies Competition probes 2021

Pro Forma Invoice Instructions

What is a Pro Forma Invoice?

KEY TAKEAWAYS

Difference Between Pro Forma Invoice & Commercial Invoice

When to Use a Pro Forma Invoice

Format of Pro Forma and Commercial Invoices

What is the population, Location and Religion Of Belfast?

Belfast

History

Belfast On map

Importance

Charges for Import and export from Turkey

Turkish Tariff Nomenclature (HS Code)

Importation of goods and services

Importing from Turkey and customs in the EU

Value-added tax (VAT) in Turkey

Export Regime

Returned Goods

Goods taken out of Customs Territory of Turkey

Need Help Importing Products From Turkey?

What are the best products to import from India in 2022?

Cereals

Pharmaceutical Products

Textile goods

Petroleum Products

Traditional Handicrafts

Spices

Machinery

Dairy Products

Need help Importing Products ?

COMMERCIAL INVOICE INSTRUCTIONS

Commercial invoice requirements when clearing or filing entry documents with U.S. Customs and Border Protection

Commercial Invoice Requirement in Details For USA

Additional Requirements for Commercial Invoice

Pro-Forma Invoice

Albatross Shipping LTD UK

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