The U.S. Department of the Treasury’s Financial Crimes Enforcement Network has issued a Geographic Targeting Order aimed at Miami, Florida, electronics exporters and common carriers and calling for the reporting of cash or cash-equivalent transactions in excess of $3,000 until at least Oct. 25, 2015.
Susan Kohn Ross
The NFL's recent controversy around the New England Patriots and a separate case involving the legality of laptop searches don't seem to have much relevance to global trade, but they share a key issue: employee privacy vs. corporate and security interests.
Pete Mento, principal of customs and foreign trade at Ryan
Importers are leaving millions of dollars on the table in what might otherwise be legally avoidable duties, simply because they’re unaware of, or unsure of, how to take advantage of a tax reduction program called the First Sale for Export rule.
Anyone who knows Jim Newsome knows he’s as competitive as they come. But the CEO of the South Carolina Ports Authority also knows that competition is healthy. So whether it’s the raising of the Bayonne Bridge to give mega-vessels access to marine terminals at the Port of New York and New Jersey or efforts to improve gate efficiency in Virginia, it’s all good for Jim.
Beneficial cargo owners are celebrating an early Christmas. Anticipating the supply-demand ratios again were trending to the demand side for the year, trans-Pacific contract rates for major BCOs barely moved, if at all. To be sure, some inland point intermodal rates bumped up, but still aren’t close to the cost levels associated with providing the services.
Today's intermodal customers seem on the verge of a similar entreaty to the Dickens character Oliver Twist: They're virtually begging for more capacity, more service and more pricing.
Kathy Mazzarella, chairman, president and CEO at Graybar
From transportation to communications and technology infrastructure, investments in building, maintaining and upgrading the systems that keep the U.S. economy moving are vital to long-term success. Although the United States’ physical infrastructure is impressive, it’s aging. Investing in maintenance and expansion is critical.
Changes made in National Motor Freight Classification by the Commodity Classification Standards Board won’t likely impact the filing and processing of damage claims by shippers, so don’t panic.
Lawrence J. Gross, president of Gross Transportation Consulting
Last year’s story for the Class I railroads was one of higher volumes and changing traffic mix. But this year, volume is down. The big 2014 growth drivers that ostensibly helped create the congestion are notably absent this year, with a collective 4,600 fewer cars of these commodities being originated over the last few weeks versus 2014.
Thomas J.K. Smith & David Serko
The law pertaining to importing goods into the United States might seem dry — until your goods aren’t allowed into the country, costing you or your customers money and time.
Lara L. Sowinski, Cool Cargoes editor
Ports, transportation and logistics providers, temperature-controlled facilities, and software and technology solutions comprise the fundamental network that supports the global cold chain, and we’re seeing exciting new innovations and applications taking place within each of these segments to build a truly integrated cold chain.
Mexico plans to inject $5 billion into the nation’s ports to keep up with growth in demand. But more interesting is that Mexico’s investment is part of a broader approach to manage and expand Mexico’s ports as a system. “We think the ports work in a better way if we use them as part of a logistics chain,” Guillermo Ruiz de Teresa, general coordinator of Mexico’s ports and merchant marine fleet, told the AAPA’s annual spring conference in Washington last month.
Susan Kohn Ross
By failing to act forcefully on controversial detention and demurrage charges during recent spikes in port and terminal congestion, the Federal Maritime Commission missed a golden opportunity to be relevant.
After a motor carrier's rollover accident damaged freight, a broker needs advice on damage claims. Even though a bill of lading was prepared with his name shown as shipper, he isn't the owner of the goods.