Bonded Warehouse - Types, Purpose & Advantages

1. A bonded warehouse is a warehouse in which duty on goods stored within need not be paid until the goods are removed from the warehouse. A bonded warehouse is referred to by Malaysian Customs as a ‘Gudang Berlesen Awam’ or Licenced General Warehouse.

2. A bonded warehouse is therefore a duty free zone, akin to a port. It is usually fenced and has high security. The warehouse operator normally gives a ‘bond’ or more usually nowadays a bank guarantee (instead of a cash deposit in the old days) to customs to guarantee that there will be no loss of revenue to customs should any of the goods stored within be inadvertently released from the bonded area. In Malaysia, a license from customs is required before a public bonded warehouse can begin operatio ns.

China and India Driving O&G Sector Growth

1. China is expected to lead the global petrochemical industry capacity growth from planned and announced projects between 2019 and 2030 with a 27% share, according to GlobalData.

2. The total petrochemical capacity of planned and announced projects in China is expected to be 172.9 million tpy by 2030. Of this capacity addition, 134.5 million tpy will come from planned projects and the remaining 38.4 million tpy will come from announced projects.

3. India and Iran are expected to have the second highest petrochemical capacity additions globally. These countries collectively contribute about 151.8 million tpy of the total global planned and announced petrochemical capacity additions by 2030.

4. Major capacity additions for India will be from an announced project, ‘Haldia Petrochemicals Balasore Purified Terephthalic Acid (PTA) Plant’, with a capacity addition of 2.4 million tpy. For Iran, the major capacity additions will be from a planned project, ‘Kaveh Methanol Company Dayyer Methanol Plant’, with a capacity of 2.3 million tpy by 2030.

5. The US stands third, with planned and announced petrochemical capacity of 71.7 million tpy by 2030. Of these, most of the petrochemical capacity additions will come from planned projects.

Coating for Aerospace and Marine Industry 2019 Analysis

AEROSPACE INDUSTRY
1. Airbus and Boeing both had record deliveries in 2018 contributing to the growth of the commererical fleet, and high-performance coatings continue to support these production increases. 

2. It is expected that number of in service A/Cs doubles in the next 10 years, Therefore, the whole airline industry is experiencing a continuous growth and hence the demand for coatings is expanding along with it.

3. Although already in use for more than 10 years, materials like composites are still relatively new when used in structural components. 

4. Production processes have evolved since the very first use but yet parts coming out of the autoclave do present a not optimum surface. Fillers are then needed to improve the surface quality before the painting process starts.

Vietnam's 2019 Investment Attractiveness Review and Forecast

1. Vietnam has become an attractive destination for investment from all over the globe.

2.The ease of doing business index for Vietnam is at 69 in 2019. Vietnam has maintained a GDP growth rate of more than 6% since 2000.

3. Many businesses are shifting production to Vietnam to avoid the effects of tariffs. Vietnam has granted investment licenses to about 1,720 projects in the first six months of 2019. The economy has grown at the rate of more than seven percent in 2018, which was a 10-year high.