As American businesses started shifting their manufacturing operations from China to other Southeast Asian nations, including Vietnam, Indonesia, Thailand, and Malaysia, over the past ten years, the world’s production environment underwent a seismic shift. This change is the result of a purposeful realignment of international supply chains that is being influenced by numerous economic, geopolitica...
New York University’s Stern School of Business recently released a study saying that globalization hasn’t reversed. With recent and current events such as COVID, the trade war between the US and China, the war in Russia and Ukraine, and the UK leaving the European Union, many thought it would. Instead, according to the study, the past two decades have seen that the average distance covered by trad...
The United States Customs and Border Protection (CBP) requires a sort of financial guarantee known as an import bond for specific types of commodities that are brought into the country from other countries. A assurance that the importer will pay any tariffs, taxes, or fees that are owed on the imported products is provided by the bond as a service to the government. Single entrance bonds and conti...
Starting off with a look at US container imports, the 10 busiest ports saw a drop in volume of 296,390 TEUs in February 2023 when compared with the previous month. The bad news for the Port of Los Angeles is that it represented 40% of that decline. The good news is that this isn’t unprecedented. In fact, February’s numbers are a mere 0.3% lower than they were in 2019, pre-pandemic. Click Here to R...
In recent years, there has been a noticeable increase in the volume of trade that occurs between the United States and Vietnam. Trade relations between the United States and Vietnam date back to the 19th century, when Vietnam was still a colony of France and the United States was working to increase its influence in the region. These relations have endured for a very long time. However, prior to t...
There are two distinct categories of logistics organizations that work to make it easier for commodities to travel from one location to another. These companies are known as freight forwarders and non-vessel operating common carriers, respectively. Although both kinds of businesses offer services that are comparable to one another, such as the coordination of transportation, the clearing of custom...
The National Motor Freight Classification (NMFC) system is a standard method that is used by the trucking industry to categorize and rate various types of commodities for less-than-truckload (LTL) transportation. Its full name is the National Motor Freight Classification. The NMFC is a standardized system that categorizes each product into a certain commodity class according to its density, ease o...
Verified Gross Mass (VGM) is a measurement of weight that is used in the shipping industry to assure the safety and security of cargo containers. This measurement was developed in the 1970s. Before the cargo is put into the ship, it is the shipper’s job to provide the VGM to either the carrier or the terminal, regardless of whether it is an individual or a company that is doing the sending of the ...
The Long Beach Container Terminal has a long and illustrious history that dates back to the early part of the 20th century and can be found at the Port of Long Beach, which is located in the state of California. The port itself was founded in 1911, but it wasn’t until the 1950s that construction on the container terminal that we are familiar with today began in earnest. The Long Beach Container Te...