An ongoing and severe drought is placing a significant strain on the crucial Panama Canal, a conduit responsible for facilitating 40% of the world’s cargo ship movement. Approximately two-thirds of the canal’s maritime traffic either originates from or is destined for the United States. Serving as a pivotal linkage between the Atlantic and Pacific Oceans, […]
The Food and Drug Administration (FDA) has declared its intention to initiate the processing of changes to Ports of Entry (POE) starting from September 9th. After becoming available in March, the POE modification feature encountered delays due to technical challenges. This recent announcement indicates a potential advancement in the agency’s preparedness to proceed with this […]
The United States Customs and Border Protection (CBP) has announced a procedure for importers or their authorized representatives to request the movement of their detained cargo to a customs bonded warehouse. This process is governed by the provisions of 19 U.S.C. 1307, which covers scenarios involving Withhold Release Orders, the Uyghur Forced Labor Prevention Act, […]
In the Wake of a Suspected June Cyberattack, Brokers Urged to Fortify Defenses A suspected cyberattack that targeted Livingston International in June underscored the critical need for customs brokers to proactively ready themselves for potential breaches, caution industry experts. Such breaches could disrupt operational continuity and sever communication channels with both clients and CBP (Customs […]
Holding the coveted title of No. 1 has been a long-standing achievement for the Los Angeles and Long Beach ports, a dynamic duo that has reigned supreme in international trade for over two decades. These interconnected trade powerhouses are responsible for facilitating the movement of nearly 40% of Asia’s imported goods into U.S. markets and […]
With the count of waiting vessels having surged to 154, the Panama Canal grapples with a mounting pileup, compelled to reduce passage bookings for carriers in response to ongoing drought conditions. These arid circumstances have stirred turmoil in the key maritime passageway since spring. Currently, the expected waiting period to traverse the canal spans about […]
Anticipated findings project that the worldwide logistics sector will achieve a remarkable valuation of over $16.79 trillion by the year 2032. A recent study conducted by Allied Market Research reveals that the global logistics landscape achieved an impressive revenue of over $9.83 trillion in 2022, which sets the stage for a compounded annual growth rate […]
Several shipping stocks have outperformed the market this year, with Dorian LPG (NYSE: LPG) leading the pack. Its adjusted closing price, factoring in dividends, has surged by 63% year-to-date. On Monday, its share price attained a historic peak since its initial public offering in 2014. Dorian manages a fleet of very large gas carriers (VLGCs) […]
In July, the Logistics Managers’ Index (LMI) unveiled a notable yet moderated decrease in transportation prices, contrasting with the sharp declines of the previous months. During the month, the recorded price reading stood at 35.6 on the index, well below the neutral level of 50. While the descent wasn’t as steep as the record-breaking drop […]
The U.S. Government, through the Department of Justice, Department of Commerce’s Bureau of Industry and Security (BIS), and the Department of the Treasury’s Office of Foreign Assets Control (OFAC), has issued a joint compliance note emphasizing the significance of voluntary self-disclosures regarding potential violations of U.S. sanctions, export controls, and other national security laws. The […]
