Expert explains why shippers based in the U.S. and beyond should prepare urgently for the worst-case scenario – a no-deal Brexit in 2020.
A U.S. man living in Singapore illegally presented technical information at the Pyongyang Blockchain and Cryptocurrency Conference in April on how North Korea can use blockchain technology to evade sanctions.
Dow Jones Risk & Compliance has 24/7 monitoring and dedicated researchers to track and build detailed profiles of individuals and entities that are subject to economic sanctions.
President Trump cited currency manipulation as the reason to reimpose tariffs on imports from the two South American countries.
Maritime, air and overland trade routes into Europe are being piggybacked by criminal gangs deploying the latest digital supply chain technologies to help meet mushrooming demand for illegal drugs across the European Union (EU), according to a major new report examining the continent’s illicit drugs business. The 2019 EU Drug Markets Report by the EU […]
Dry bulk ship operator Malaysian Bulk Carriers has reported another set of losses. Barring unexpected positive developments, it may make a yearly loss. It is also reducing both long-term and current assets. The company has entered into working capital deficiency.
Courier, domestic and international logistics company GD Express reported a slowdown in total comprehensive income in its latest quarterly results. The company generated increased revenues but increased costs too. Profits shrank.
The Office of Foreign Assets Control places subsidiary to Cuban state-run oil shipper, Corporacion Panamericana, on blacklist for circumventing sanctions against Venezuela’s oil sector.
A proposed rule calls for the Commerce Department to determine whether certain technologies pose a threat to U.S. national security and prohibit those trade transactions.
Shipments of counterfeit driver’s licenses and blank card stock were discovered and seized by Customs and Border Protection officers at Louisville and Memphis mail facilities.
Animal rights groups call for the European Commission to ban the live transport of animals following the Black Sea tragedy.
For two years the software company’s sanctions screening failed to detect a Slovenian app store developer and its owner who were placed on the Specially Designated Nationals and Blocked Persons List.
Mark Lambert, who served as co-president of nuclear materials transport specialist TLI, will be sentenced by the District Court of Maryland on March 9, 2020.
Trucking and trade bodies are outraged by the ongoing tactics of container terminal operators to frequently hike already huge fees on trucks. Lobbying of government ministers is underway and even port operators are disappointed at the ongoing tactics of terminal operators.
Port of Los Angeles Executive Gene Seroka cautioned the port’s Board of Harbor Commissioners that even if a trade deal is reached with China, it may take months or years for trade volumes to snap back. President Trump on Friday once again gave mixed signals on the likelihood of a trade deal with China as […]
While most license applications related to the Chinese telecom are expected to be denied, news reports surface that some U.S. companies have started receiving approvals from the U.S. Department of Commerce.
The agreement, which takes effect Jan. 1, will guarantee the import of 132,304 metric tons of U.S.-grown rice, valued at $110 million.
U.S. export compliance advisers recommend exporters be realistic in their expectations with regard to the department’s license approval process for the blacklisted Chinese telecom.
The National Customs Brokers and Forwarders Association of America picks Whitmer & Worrall after longtime Capitol Hill representative Jon Kent announced his retirement in September.
U.S. Customs and Border Protection said optical lenses manufacturer Satisloh used false descriptions, tariff classifications and duty rates on its import entries for certain machinery and parts.
The department’s extension of the temporary general license gives U.S. companies another 90 days to continue their business activities with the Chinese telecom.
U.S. Customs and Border Protection said the enhancements, to be rolled out over three phases through the rest of this year and 2020, pave the way to retiring legacy truck manifest application.
U.S. Customs and Border Protection will use the industry’s comments to refine its Section 321 E-Commerce Data Pilot.
In cargo transportation, there is a distinction between screening and inspection.
U.S. poultry producers eye more than $1 billion market potential for China after being shut out for five years.
U.S. Customs and Border Protection officers in Philadelphia discovered the counterfeit rings potentially valued at $562,000, if genuine, in an express shipment manifested as a “box” valued at $14.
Maersk, MSC, Hapag-Lloyd and COSCO will be the main market share “losers”, says Alphaliner.
Boston’s freight move thru New York? No suh, because the Hub is best served by its own.
It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.
Risks based on cargo moving through Los Angeles/Long Beach ports
Climate change, electric vehicles, alternative power, terrorism, and regional political conflict are significant risks to Saudi Aramco’s business, according to the company’s initial public offering prospectus.
A Miami-based customs broker specializing in perishable imports will benefit from access to agency officers for after-hours inspections through the Reimbursable Services Program.
The U.S. Treasury Department’s Office of Foreign Assets Control assessed $210,600 civil penalty against Apollo Aviation Group for violating the Sudanese Sanctions Regulations.
Lori Ann LaRocco’s new book chronicles the tariff war and tracks its impact through trade flows.
Growth from last year’s front loading makes for tough comps, as trade war upsets seasonal patterns.
Between February 2018 and September 2019, U.S. consumers and businesses spent an additional $38 billion on products due to tariffs on Chinese goods, Tariffs Hurt the Heartland said.
The NCBFAA, which represents the customs brokerage industry, has become increasingly upset with the management at the Customs and Border Protection-contracted test sites and the way applicants are treated.
False submission of shipment information in the U.S. government’s Automated Export System helps sink scheme to smuggle military-style inflatable boats and engines to China, according to officials.
U.S. Customs and Border Protection officers at the ports keep watch for untreated wood packaging in cargo shipments to prevent the spread of wood-boring pests.
Commerce secretary says talks on foreign automaker investment in the U.S. may again delay imposition of tariffs on imported vehicles.
U.S. Customs and Border Protection said importers of tobacco from the southeast African country must demonstrate the goods are not in violation for clearance.
The U.S. Justice Department said Peter Sotis, former owner of Florida-based Add Helium, is accused of smuggling rebreather equipment without an export license to the war-torn country.
Ben Thrower writes about the importance of American agriculture – not just to the U.S. population, but to the country’s trade negotiations.
The PACT Act closely mirrors the unsuccessful Graham-Van Hollen Turkey Sanctions Bill in the Senate.
Ocean shipping along the coast of Oman, in the Middle East and throughout the Arabian Sea, is being disrupted by Cyclone Kyarr – the most powerful storm ever in that sea-space. However, local sources advise that shipping through a globally critical oil chokepoint, the Strait of Hormuz, is unaffected.
Read what Ted Stevens Anchorage International Airport is doing to stay relevant and its importance to U.S.-international trade.
Growing source of U.S. containerized goods imposes navigation restrictions due to sunken boxship.
The U.K. was scheduled to leave the EU on October 31, but now has until January 31, 2020 to get a deal approved by Parliament.
Forager, a Chicago-based cross-border freight brokerage, announced the official launch of its new technology, SCOUT. The instant pricing and booking technology brings on-demand pricing and capacity to the United States-Mexico-Canada cross-border space. “The purpose of the new technology is to make it easier for shippers to get access to cross-border pricing and capacity instantly for […]
Engines in Australian trucks may have been modified to allow them to break speed limits. Australian police have been reading premises across the country. In other Down Under News: APE eats up AHG; new boss for Orcoda; mobile phone driving surveillance laws; broken bridges; accident black spots; corporate debt.
“This new humanitarian mechanism will help international companies that seek to engage in permissible humanitarian trade with Iran to ensure that they do not run afoul of sanctions,” Treasury Secretary Steven Mnuchin said.
Canadian national Alexis Vlachos, who was sentenced to prison last September, will not be able to export or receive anything from the U.S. for the next seven years, the U.S. Bureau of Industry and Security said.
Global logistics software developer WiseTech (ASX: WTC) has come under renewed attack from investment advisor company J Capital. WiseTech continues to reject all claims of impropriety and asserts J Capital is simply “wrong.”
The U.S. Department of Commerce has opened an inquiry into whether companies are circumventing anti-dumping and countervailing duty orders on steel rebar from Mexico by bending the product “at one or both ends.” The Commerce Department press release announcing the inquiry did not specify which companies are being investigated. Mexico was the fourth-largest foreign supplier […]
Lost in the US-China’s trade war’s impact on imports is the devastating effect on US exports
The world’s second-largest 3PL does not expect a rebound in air cargo markets until the second half of 2020.
Battery Council International, which represents U.S. lead acid battery manufacturers, praised the removal of the potentially unsafe products from the supply chain.
The Trump administration said the Turkish government satisfied the five-day ceasefire commitment in northern Syria.
The Southern African country’s political leadership established the national holiday to protest longtime U.S. economic sanctions.
The need for dual-hub European logistics systems as Brexit looms is one reason the Hong Kong-based supply chain specialist is building a new hub.
Toy maker Hasbro reported lower third-quarter earnings, citing tariffs on Chinese products and higher supply chain costs.
The Office of Foreign Assets Control policy, which focuses on financial ownership of sanctioned individuals or entities, bedevils U.S. companies with sophisticated compliance programs.
The Trump administration said it is taking this latest regulatory action to further restrict the Cuban government’s efforts to support Venezuela’s Maduro regime.
The last couple of days took a dramatic turn with U.S. short seller J Capital making explosive allegations that global logistics software behemoth, WiseTech – a A$9 billion (US$6.2 billion) company, has been seriously misleading investors. WiseTech has robustly denied these claims. In other news: CTI Logistics annual results; truck rest stops “desperately needed”.
The Office of Foreign Assets Control on Oct. 17 extended the general license for Nynas AB that is 50% owned by Venezuela’s state-owned oil company, Petrόleos de Venezuela S.A.
Terminal operator joins TradeLens as it looks to align with ocean carriers and provide better box tracking.
French calls for mandatory slow steaming continue, but the introduction of low-sulfur bunkers could see container lines accelerate services as fuel markets are played for competitive advantage.
Japan’s freight industry is set for a downturn on the back of declining economies in the U.S., China and the Eurozone, new research reveals.
Turkey has the next five days to maintain the ceasefire against Syrian and Kurdish forces before the U.S. sanctions are removed.
West Coast forwarders and customs brokers discussed blockchain, e-commerce, big data and Section 321 at their annual WESCCON gathering.
The Hong Kong Human Right Rights and Democracy Act, which unanimously passed the House of Representatives on Oct. 15, puts pressure on Hong Kong to uphold U.S. export controls.
A boost to demand from higher commodity volumes and a reduction in supply owing to IMO 2020 low sulfur fuel regulations are giving a boost to the international dry bulk freight markets, says Hong Kong ship operator Pacific Basin (HKEX: 2343).
September saw China record its lowest monthly export growth to the U.S. since 1996 as the trade war inflicted more damage.
Large aircraft are included on the list of $7.5 billion worth of European imports that will be subject to new U.S. tariffs starting Oct. 18. That means U.S. airlines with orders for Airbus aircraft could pay more than expected. During Thursday’s (Oct. 10) earnings call with analysts, Delta Airlines [NYSE: DAL] CEO Ed Bastian expressed […]
FreightWaves finds growing evidence that manufacturers and distributors are transferring operations from the U.K. to northern Europe.
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.
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.
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.
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.
Big air trade drops with major trading partners leaves industry looking for backfill
Freight volumes in and out of Japan’s busiest port, the Port of Tokyo, have declined in the first six months of 2019 compared to the first six months of 2018, new comprehensive data shows.
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.
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.
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.
Asian merchant shipping and major drinks manufacturers are responsible for an increase in the amount of plastic bottles found in the world’s oceans.
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.”
Houston still the main gateway for resin shippers, but other Southeast ports growing as well.
New third-party logistics firm to take over yard and warehouse that handles ‘considerable’ freight.
“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.
The association, which represents the country’s customs brokers and freight forwarders, seeks better engagement between Customs and Border Protection and industry software vendors.
At the center of the Trade War between the U.S. and China are the American ocean ports.
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 transfer of production out of China to avoid U.S. tariffs of up to 25% is having a tangible impact on global trade flows.
