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China Shipping bulletins on June 12,2020
Falling demand for air cargo capacity from China and Hong Kong has led to the start of “a more regular pattern” for commercial air cargo, in which the elevated rates of recent weeks begin to descend to more normal levels, according to US freight forwarder Flexport.
The Legislative Council passed the government bill to amend the Inland Revenue Ordinance (IRO) to introduce a new tax regime to promote ship leasing (tax rate: 0%) and ship leasing management (tax rate: 8.25%, i.e. half of corporate profits tax rate of 16.5%) in Hong Kong.
Container shipping consultancy Sea-Intelligence is advising shippers to prepare for the recent patterns of blank sailings by lines to continue into box shipping’s peak season.