The NCBFAA Customs Committee Shares Important Guidelines on Closing Temporary Importation Bonds (TIBs) Customs brokers are advised to familiarize themselves with the procedures for closing Temporary Importation Bonds (TIBs), as highlighted by the NCBFAA Customs Committee. The necessary information can be found in the Trade-External section of the Customs and Border Protection (CBP) Business Rules […]
A recent report by Allied Market Research has unveiled the transformative impact of digital freight forwarding on the global shipping industry. In 2020, the market generated $2.92 billion, and it is projected to soar to $22.92 billion by 2030, boasting a remarkable CAGR of 23.1%. This comprehensive analysis delves into the market’s size, prevailing and […]
The Environmental Protection Agency (EPA) has removed the exemption for “ancient engines” used in non-road vehicles. An “ancient engine” refers to an engine that was first manufactured at least 21 years ago and remains in its original configuration, as defined by 40CFR 1068.315(i). This exemption is no longer applicable for importing nonconforming engines. However, the […]
The trucking and freight industries, which experienced unprecedented growth during the COVID-19 pandemic, are now facing a challenging period as freight volumes return to pre-shutdown levels. According to Craig Fuller, president and CEO of FreightWaves, a supply chain media company, the current market conditions are worse than the financial crisis of 2007-08. Fuller predicts that […]
Updated Analysis Reveals EU Commission’s Inadequate Approach to Heavy-Duty Vehicle Emissions Transport & Environment (T&E) has released an addendum to their 2022 publication on addressing the climate challenge posed by heavy-duty vehicles (HDVs). This update incorporates the European Commission’s recently proposed review of CO2 standards for HDVs, published in February 2023. The analysis examines the […]
The global cargo charter and freight service market is driven by major manufacturers and presents a competitive landscape for the industry. Key companies such as Atlas Air Worldwide Holdings, Cathay Pacific Airways Ltd., Air Transport Services Group Inc., Air Charter Service, Garuda Indonesia, CEVA Logistics, Geodis Freight & Logistics Services, RATP Dev, and Transdev Group […]
According to a research report published by Spherical Insights & Consulting, the Global Air Cargo Container Market is projected to grow from USD 1.59 Billion in 2022 to USD 2.28 Billion by 2032, with a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period. Air cargo containers, also known as Unit Load Devices […]
The freight market in the United States has witnessed noticeable changes in regional outbound demand, indicating a shift in supply chain dynamics. A comparison with June 2019 reveals a significant redistribution of freight towards the Eastern half of the country, based on shippers’ requests for capacity (OTVI). Notably, the Southwest region, including Texas, has experienced […]
Shippers currently hold the upper hand in the freight market as spot and contract rates soften. However, industry experts predict that rates will stabilize throughout 2023. Analysts point out that shippers have gained significant market power, leading to declining contract rates. While spot rates have already reacted, contract rates are expected to decrease for at […]
The FDA has recently published a set of new frequently asked questions (FAQs) and additional tools to assist the industry in understanding and complying with the FDA Food Safety Modernization Act (FSMA) Food Traceability Rule. The primary objective of the Food Traceability Rule is to streamline the identification and swift removal of potentially contaminated food […]
