The price of ship fuel has fallen to around half the peak seen after the Ukraine invasion, with second-quarter fuel surcharges for containerized cargo shippers set to deliver even greater savings. However, there are concerns that a switch to LNG or methanol as part of the energy transition would see future fuel costs rise back […]
A panel of U.S. seaport executives gathered at the American Association of Port Authorities’ annual legislative summit, “Strong Ports. Strong America.” to share their insights on the rest of 2023. As they prepare for the fall peak shipping season, the executives expressed concerns about the current volumes being below sustainable levels, with some blaming retailers […]
The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) has recommended the suspension of all commercial trade of species on its protected list with Mexico, citing the country’s failure to provide an adequate plan to protect its native totoaba fish. Totoaba fishing, which is illegal and highly lucrative due to […]
The global pharmaceutical logistics market is expected to experience substantial growth over the next decade, with a projected market value of USD 446.61 billion by 2030. This growth will be driven by several key factors, including increasing demand for pharmaceutical products, advancements in transportation technology, and the need for efficient supply chain management. Pharmaceutical logistics […]
While trans-Pacific rates have returned to pre-COVID levels, trans-Atlantic rates remain elevated and are still more than twice the rates in March 2019. The elevated rates are due to strong U.S. imports from Europe, particularly in building materials. The Drewry World Container Index (WCI) spot-rate assessment for Rotterdam, Netherlands, to New York was $5,061 per […]
On the 19th of March, CBP issued a fact sheet regarding 19 C.F.R. §111.32, a regulation that obligates customs brokers to report to CBP if they discontinue representation of a client who is attempting to intentionally defraud or commit any criminal act against the U.S. Government through the broker. The fact sheet contains examples of […]
NOAA Fisheries has proposed changes to the Seafood Import Monitoring Program (SIMP) on December 28, 2022. The rule suggests expanding red snapper to encompass all Snapper (Lutjanidae) species, and broadening the tuna species group to include various other species marked or described as “tuna,” such as slender tuna, bullet tuna, frigate tuna, kawakawa, and others. […]
On March 19th, 2023, the United States Customs and Border Protection (CBP) released a fact sheet regarding 19 C.F.R. §111.32, which outlines the requirements for customs brokers to maintain records. This release aims to provide clarity to customs brokers regarding the necessary record-keeping procedures to ensure compliance with the relevant regulations. Customs brokers are individuals […]
The past two years have been challenging for supply chains across the globe due to the pandemic, leading to disruptions, delays, and shortages. However, as we enter March 2023, the industry is finally showing signs of normalizing. In this blog post, we’ll take a closer look at the changes and challenges that have led to […]
The Federal Reserve System, also known as the Fed, has recently unveiled a new tool for monitoring supply chain pressures in the U.S. economy. Called the Fed’s Supply Chain Pressure Gauge, this tool is designed to help policymakers better understand the challenges and risks facing supply chains in various industries. Supply chain disruptions have been […]
