An acute shortage of the Carbon Black -a major raw material needed for manufacture of rubber products has caused the crisis in Indian Non-tyre Rubber industry . The shortage has caused the shutting down of a large number of small and medium sized manufacturing units across the nation. All India Rubber Industries Association ( AIRIA ), an industry body of non-tyre rubber products manufacturers, has appealed to the Govt.
by Michael Sherbo, Director of Appeals, Dominion Customs Consultants Inc.
In January 2016, the CBSA (Canada Border Services Agency) introduced their ARL (Accounts Receivable Ledger) system. It is designed to offset an importer’s refunds by posting credits to the importer’s account and replaces the previous system of issuing refund cheques.
Prior to ARL, importers paid the duties owed. Later, if applicable, the importer would file for a refund. If the CBSA agreed, they would generate a DAS (Detailed Adjustment Statement) to show they had granted a refund to the importer. This process could take anywhere between one to two months. Importers might then wait an additional three weeks to actually receive their cheque. This meant importers were usually looking at up to three months to actually receive their cheque.
ARL streamlined this entire process. Now, credits to an importer’s account usually show up by the next day. Because the refund comes in the form of a credit against the duties owed by the importer – it is not a cash payment – importers can access the use of the money sooner, offering them a quick improvement to their cash flow.
The CBSA will make an exception in cases where an importer has a large credit, usually if the credit is more than two months of duties payable. If the importer requests a cheque, the CBSA can send one to the importer to shorten the time needed to level out the duties owed.
One of the challenges of ARL is visibility to an importer’s account. Currently, the only visibility to an account is shared between the importer and the CBSA. If the importer uses a service provider such as a customs broker or a consultant, those third-parties will have visibility only to the parts they’ve worked on. If the importer also uses a second service provider, they will see only the information they’ve worked on. No-one has any visibility into the other’s activity.
Add a savvy importer to the mix, one who is filing their own refunds, and none of the service providers will have any visibility to any credits that may be in the account.
The CBSA is working on remedying this. They are looking to implement different upgrades to ARL. One of the next improvements will be for service providers to have increased visibility into their clients’ account and balance.
In the meantime, importers need to work closely with their service providers. They need to make sure they receive accurate and prompt statements in order to track that all their credits are accounted for as quickly as possible. This is because the account can quickly become overpaid if brokers constantly pay their client’s statements only to leave refunds and credits in the account, never to come off.
Service providers automatically receive their own daily notice and statement of account on behalf of their clients.
Importers can make sure they see the previous month’s refund processed as quickly as possible by setting themselves up to receive their own daily notice and statement. There are two ways to do this. One – they can set themselves up directly with the CBSA. Although more practical, this is the more costly route. Two – they can engage a third-party service provider to obtain daily notice or statement of account information. This is the less expensive route and can be put into place with only nominal fees attached.
To find out how you can lower your landed costs, contact Howard Rosenberg, Account Executive, Dominion Customs Consultants Inc.; at firstname.lastname@example.org; or 1-888-888-3443 x 239.
HONG KONG (Reuters) – Asia’s factories got off to a strong start in 2018, with manufacturing activity in many countries gaining momentum and hitting multi-year highs as global demand for hi-tech products remained strong.
Business surveys in Europe and the United States later on Thursday were also expected to show solid factory activity, reinforcing expectations of another year of synchronized global growth that has propelled stock markets to record highs.
Sales of imported tyres in Korea increased by more than 40 per cent in the January to April period when compared with 2016 figures, according to the Korea Tire Manufacturers Association (KOTMA).
If this pace continues, imported tyres will set a record high this year. According to KOTMA, this is largely due to Hyundai Motor and its smaller affiliate Kia Motors introducing imported tyres on their models, media said.
Total tyre imports for the four-month period, according to the KOTMA, stood at 252.22 billion won, up 42 per cent, or 74.78 billion won from 177.48 billion won during the same period last year.
LITTLE ROCK, Ark.-The state of Arkansas has recognized Cooper Tire & Rubber Co.’s operations in Texarkana, Ark., with the state’s Governor’s Award in the large manufacturing exporter category.
Leaders of the Tyre Recovery Association (TRA) and National Tyre Distributors Association (NTDA) are warning that tire recycling costs are increasing at an alarming rate across Great Britain. The associations assert that the increases are being driven by a mixture of regulatory changes and new market conditions. This leads to reprocessors and professional used tire collectors encountering rather challenging times.
Peter Taylor, secretary general of the TRA says: “Not only we face increased operating and fuel costs, added to which is the latest increase in the minimum wage but these are just aspect of the upward cost pressures that we experience.”
“We, the same as other automotive waste streams, encounter extremely significant costs which stem from new fire security guidelines introduced by the Environment Agency. They reduce capacity in various ways and exert further pressure on costs which will all have to be passed on,” Mr. Taylor says.
Members of TRA who account for over 70% of all used tires collected in Great Britain, are also hit by a plummeted demand for tire-derived fuel (TDF) in Asian export markets and elsewhere due to a four-fold rise in shipping costs.
The United States International Trade Commission (USITC) today determined that a U.S. industry is materially injured or threatened with material injury by reason of imports of certain amorphous silica fabric from China that the U.S. Department of Commerce (Commerce) has determined are subsidized and sold in the United States at less than fair value.
Chairman Rhonda K. Schmidtlein, Vice Chairman David S. Johanson, and Commissioners Irving A. Williamson, Meredith M. Broadbent, and F. Scott Kieff voted in the affirmative. Commissioner Dean A. Pinkert did not vote in these investigations.
As a result of the USITC’s affirmative determinations, Commerce will issue antidumping and countervailing duty orders on imports of this product from China.
Dublin, Ireland – In 2016, China’s tire export reached CNY 468.48 million, increasing by 5.4 percent year-on-year. Export value was $12.89 billion, decreasing by 6.9 percent year-on-year. Average unit export price was $27.52, decreasing by 11.65 percent year-on-year. Affected by the decreasing price of natural rubber in the international market in recent years, the manufacturing cost of tires has been declining, so the average unit export price of tires has been declining as well, according to Research and Markets.
In 2016, tires from China were exported to more than 200 countries and regions with the U.S.A. being the largest market. The value of tires exported from China to the U.S.A. was $2,102 million, accounting for 16.3 percent of China’s total export value of tires in the same term. The U.K. was the second largest market. In 2016, the value of tires exported from China to the U.K. was $541 million, accounting for 4.2 percent of China’s total export value of tires in the same term. Mexico, Australia, the UAE and Germany were also important export destinations for tires from China. Tires exported to the U.S.A. were mainly radial tires for passenger vehicles between 15 and 16 inches. China’s export price of tires of that size is 80 percent of the average export price, still lower than the prices of other countries. Tires imported from China ranked the first in terms of all sizes of imported tires for passenger vehicles in the U.S.A.
Research and Markets has announced the addition of the “Research Report on Tire Export in China, 2017-2021” report to their offering.
In 2016, China’s tire export reached CNY 468.48 million, increasing by 5.4% YOY. Export value was USD 12.89 billion, decreasing by 6.9% YOY. Average unit export price was USD 27.52, decreasing by 11.65% YOY.
ABU DHABI (Reuters) – Global oil prices will witness “much more volatility” in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented, the head of the International Energy Agency (IEA) said on Sunday.
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Nov. 30 to cut output by 1.2 million bpd to 32.5 million bpd for the first six months of 2017, in addition to 558,000 bpd of cuts agreed by independent producers such as Russia, Oman and Mexico.
“I would expect that we will see a rebalancing of the markets within the first half of this year,” said Fatih Birol, executive director of IEA, the Paris-based global energy watchdog.
“But what I want to say (is) that we are entering a period of much more volatility in the market … the name of the game is volatility,” he told Reuters Television in Abu Dhabi.