US tariffs take heavy toll on China (with video)
September saw China record its lowest monthly export growth to the U.S. since 1996 as the trade war inflicted more damage.
September saw China record its lowest monthly export growth to the U.S. since 1996 as the trade war inflicted more damage.
World’s second largest container fleet continues push with ultra-large container ships.
The Trump administration takes aim at financial assets of Turkish government agencies and officials linked to military strikes in Syria, but Congress may legislate broader sanctions in the days ahead.
European shippers have joined with leading container line analyst Drewry to bring order to the “who pays what” implementation of IMO low-sulfur fuels.
Although Super Typhoon Hagibis has caused catastrophic floods, mudslides and at least 68 tragic deaths in Japan, FreightWaves understands from local sources that Tokyo’s critical freight infrastructure – seaports and airports – are undamaged. Japan’s wider logistics network is suffering from a miscellany of damage such as flooding.
The announcement by President Donald Trump not to increase tariffs on $250 billion in Chinese imports to the U.S. and boost U.S. agriculture exports did not address other structural issues.
Headlines may proclaim “$300,000 per day” but most crude tankers are not making anything close to that.
Market Voice Darren Prokop writes about automation at ports and the progress – and disruption – that will bring.
Petitions must be filed to the U.S. International Trade Commission by no later than Dec. 10 to be considered for inclusion in the next miscellaneous tariff bill.
NCBFAA generally supports Customs and Border Protection’s goal to protect against illicit importers but said the agency’s proposed importer verification rule has “grossly miscalculated the cost” to customs brokers.
Maersk subsidiary looks to fix congestion that had been widely cited in 2018 front-loading.
Asia-Europe demand has been strong for much of the year, but spot rates have tumbled as some lines have cut rates. With demand weakening, carriers are poorly placed ahead of annual contract negotiations, says Drewry.
An influx of new container ships has hiked the average size of vessels deployed on the trans-Pacific and Asia-Europe trades, reports Alphaliner.
“Finally, a ray of hope for the U.S.-China trade relationship,” said Myron Brilliant, U.S. Chamber of Commerce’s head of international affairs.
The Graham-Van Hollen sanctions bill would cut off Turkey from U.S. military equipment and parts, as well as target foreign support of the country’s oil and gas production used by its armed forces.
VLCC rates are reaching epic levels in the wake of an attack in the Red Sea on an Iranian Suezmax tanker.
Port of Los Angeles container volumes dipped in September and its executive director called for a negotiated settlement of the U.S.-China trade ware.
Renowned logistics analyst explains how Brexit will impact cargo flows, liner shipping calls and European supply chain planning.
Confidence elevated after Trump decides to meet with Vice Premier.
Both canal stats and container transport pricing confirm continued momentum for U.S. East Coast ports.
Customs brokers say a permanent extension of the 2017 Craft Beverage Modernization and Tax Reform Act would incentivize Customs and Border Protection to automate the tax refund process.
European logistics giant could bring its famed, eco-friendly distribution centers to North America as its global expansion continues
Georgia Ports Authority is looking to grow roll-on, roll-off cargo even as work continues on salvaging the capsized car carrier Golden Ray.
What is the most bizarre transportation law case you’ve ever heard of? The story of the demise of the tanker Brilliante Virtuoso may top your list.
Customs and Border Protection officers said the counterfeit footwear, which was recently seized at the L.A./Long Beach seaport complex, was mis-declared as “napkins.”
Port of Los Angeles approves environmental plan for terminal that accounts for 17% of its container volume.
Houston still the main gateway for resin shippers, but other Southeast ports growing as well.
Maersk expects ample supplies of low-sulfur fuels to be available in most ports, but warns shippers to expect higher costs.
For a window on future demand for U.S. crude oil, look to international markets, as ever-more U.S. volumes head to sea.
“This new module will make it easier for Commerce and CBP to monitor and uphold our trade laws,” Executive Assistant Commissioner Brenda Smith of CBP’s Office of Trade said.
The Commerce Department said the Chinese government and commercial entities added to the export control list participated in human rights violations against China’s Muslim ethnic minorities.
U.S. Federal Maritime Commission Chairman Michael Khouri talks with American Shipper about priority container shipping regulatory issues for fiscal year 2020.
SeaCube Container Leasing has rapidly expanded its refrigerated container fleet and is now the third largest lessor of reefers and largest lessor of gensets.
The association, which represents the country’s customs brokers and freight forwarders, seeks better engagement between Customs and Border Protection and industry software vendors.
The chairman of DSV Panalpina says the company will concentrate on bringing Panalpina into the fold for 12-18 months, before its next acquisition, which may be aimed at strengthening its road business.
Drewry expects service levels to be cut by lines if shippers prove unwilling to foot the bill for mandatory low-sulfur fuels.
VLCC rates are now at or near $100,000 per day, courtesy of U.S. sanctions targeting China’s COSCO.
Traxens says the new standard will facilitate growth in smart container usage.
The Government Accountability Office found that Treasury, State and Commerce agencies, which administer U.S. economic sanctions, lack the ability to definitively measure their effectiveness.
The Baltic Exchange has been unrivaled in its creation of indices for dry freight futures. That may be about to change.
The transfer of production out of China to avoid U.S. tariffs of up to 25% is having a tangible impact on global trade flows.
The consultants Drewry and supply chain software company CyberLogitec say technology could help small and medium shippers by reducing volatile spot rates.
The introduction of new low-sulfur fuels, bearish demand and increased blanked sailings will bring more volatility to box markets in the coming months, says MSI.
“Items that likely would have been forfeited, slated for auction or destroyed as part of a final disposition are now going to help those in need,” CBP’s Miami International Airport port director said.
Dredging could begin in late 2020 after port finishes shoreside upgrades.
Crude tanker rates continue to surge, driven by geopolitical tensions. Meanwhile, container rates remain weak.
The National Customs Brokers and Forwarders Association of America will work with U.S. Customs and Border Protection to develop the education program.
The U.S. Treasury Department’s Office of Foreign Assets Control said three GE subsidiaries failed to use “reasonable care” by accepting payments from a Cuban entity associated with a Canadian customer.
From Oct. 1 new low-sulfur fuel charges are being levied by some container lines with more to follow through Q4. Use of the fuels is not mandatory until January 1, 2020.
U.S. sanctions targeting Iranian crude aboard Chinese ships ensnare Canadian-headquartered, New York-listed owner of Bahamas-flagged vessels carrying Russian cargoes via Arctic Sea.
Export and import volumes falling well below earlier estimates as economy slows and trade tensions rise.
Customs and Border Protection issued holds on five products from five countries, requiring U.S. importers to re-export those products or provide additional information that they were not made with forced labor.
The World Shipping Council considers next steps after the U.S. Federal Maritime Commission on September 26 denied a part of its petition calling for the elimination of service contract filing.
Brandon Fried, executive director of the Airforwarders Association, believes U.S. Customs and Border Protection must step up engagement with his industry to boost its participation.
U.S. sanctions targeting a subsidiary of China’s COSCO Shipping could have far-reaching consequences.
For 235 years China and the U.S. have sought out each other’s markets by utilizing their fleets of merchant ships.
Seventh busiest North American container port looks to add more infrastructure to handle larger ships.
Northern Asia is again in the cross-hairs of an extreme weather event as Typhoon Mitag bears down on some of the busiest box ports in the world.
The U.S. Federal Maritime Commission does not expect easy answers to the question of how to fairly assess demurrage and detention when Customs and Border Protection holds containers.
The Treasury Department’s Office of Foreign Assets Control identified Moscow-based Maritime Assistance LLC as the head of a “sanctions evasion scheme” to deliver jet fuel to Syria.
The Federal Maritime Commission approves the ocean container carrier organization’s petition to eliminate publication of essential terms but retains the requirement to file the actual service contracts.
The U.S. Office of Foreign Assets Control said the sanctions do not apply to parent company COSCO Shipping Corp. and other affiliates not involved in the transport of Iranian oil.
The start of the box shipping slack season commences next week when Chinese factories close for the Golden Week holiday. Further spot rate losses are predicted by Alphaliner.
Trade lanes will come to a halt if the U.K. exits the EU on October. 31, believes the Secretary-General of the European Shippers Council.
Customs and Border Protection officers in the Kentucky port of entry seized counterfeit Cartier bracelets and other jewelry between July and September, resulting in an importer’s arrest.
Four ocean shipping firms and four tankers are added to the Office of Foreign Assets Control’s Specially Designated Nationals List for their roles in supporting Maduro regime.
Shipping equities have suffered through a rough couple of years, but hope persists that market capitalizations and trading volumes can be resuscitated.
The aerospace and defense company Harris Corp. failed to stop repeated violations of the Arms Export Control Act for several years following notification by the Defense Department of wrongdoing.
At 400 meters in length, the CMA CGM Jacques Saade has capacity for over 23,000 containers.
The Senate Appropriations Committee’s Democratic members are expected to reject proposed Department of Homeland Security fiscal year 2020 funding bill if $5 billion for southern border wall stays.
Port of Long Beach is offering incentive payments to ocean carriers in an effort to stabilize declining cargo volumes.
The U.S. Department of Agriculture agency looks forward to receiving import documentation through Customs and Border Protection’s International Trade Data System.
The shipping giant has teamed up with JDA to boost warehouse and supply chain visibility
Container ships are setting new records, but for all the wrong reasons, as the vessels become an increasingly popular way to smuggle drugs. As FreightWaves’ Mike King reported, the Maersk […]
Getting to Zero Coalition, which includes Maersk Line, calls for “commercially viable zero-emission vessels” to be deployed on deep sea trade by 2030.
The number of containers is a better bellwether of global trade than the number of container ships.
Team of rivals? The competing ports of Los Angeles and Long Beach are looking at additional ways to cooperate for their mutual benefit.
The $42.3 million bust is the latest in a string of global maritime drug seizures at sea and in ports.
Forwarder outlines pathway to carbon neutral future as climate change takes on new urgency.
Customs and Border Protection explores electronic methods to capture data on the estimated 1.8 million package shipments valued at less than $800 arriving in the U.S. each day.
Truck driver Terry Damon will receive a total of A$1.7 million (US$1.15 million) of compensation from his employer, a shipper and a consignee, after they collectively caused him to suffer a severe injury to his back.
Capital-market sentiment is so bad in New York that ship owners may end up raising more money in Oslo this year.
The U.S. Federal Maritime Commission set the new comment deadline for its notice of proposed interpretive rule to address demurrage and detention practices to Oct. 31.
BIMCO says there are “several indications” that goods are being shipped from the Far East to Europe and then transshipped to the U.S. East Coast to avoid tariffs.
The Treasury Department adds two banks to the Specially Designated Nationals and Blocked Persons List in response to Iran’s alleged involvement in missile attacks against Saudi Arabia’s oil facilities.
Academics look at the trade imbalance between the United States and China and weigh in on possible fixes.
FIATA warns that higher air, ocean and trucking fuels costs will be passed directly on to customers.
Blockchain to be deployed by VAKT to smooth the post-trade process
Through the continued development of automated processes, U.S. Customs and Border Protection foresees the day when paper export manifests will no longer be necessary.