Here are some of the top global shipping news stories of the month: A worse-than-normal drought season has pushed the Panama Canal Authority to reduce maximum draft and capacity, which is further impacting trade through the canal. In response, as of June 1, transpacific carriers are now imposing additional surcharges for all water services on the Asia/US East Coast tradelane — in some cases, the s...
In the realm of shipping and logistics, understanding the different types of documentation, particularly Bills of Lading (BoL), is crucial. Two common types are the Ocean Bill of Lading and the US Domestic Truck Bill of Lading, each serving distinct purposes in their respective transport modes. An Ocean Bill of Lading is used in sea freight shipping. This document serves three critical functions: ...
For many years, the United States and Indonesia have maintained a significant bilateral trade relationship, engaging in a lively exchange of goods and services that has helped shape the economies of both nations. Despite being separated by vast geographical distances, these two countries have forged strong economic ties driven by their complementary needs and resources. Here, we delve into the mai...
Chicago, also known as the “City of Big Shoulders,” carries a significant weight in America’s intermodal freight network. As the nation’s largest intermodal hub, Chicago connects the vast American freight system, allowing for the smooth flow of commodities across the country and beyond. Chicago’s intermodal hub is a lively intersection where the eastern and western train networks converge. This un...
The intermodal rail system in the United States is a monument to the country’s logistical expertise. This complex network links seaports, interior ports, and key industrial and consumer districts, promoting local and international trade. The utilization of more than one method of transportation for a consignment is referred to as intermodal transportation. In the United States, this frequently ent...
The analytics firm Everstream released a risk report in April related to sourcing from Chinese suppliers. According to the report, they’ve applied a 90% risk score to the supply chain because of the continuing potential for delays and cancellations — mainly because of ongoing localized outbreaks of COVID-19 across the country. However, the report didn’t focus solely on China. They indicated severa...
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...