On September 13, 2024, the United States Trade Representative (USTR) finalized long-awaited modifications to the tariffs imposed under Section 301 of the Trade Act of 1974. The tariffs, originally implemented to pressure China to reform its policies on technology transfer and intellectual property rights, are part of the broader U.S.-China trade conflict. The latest update…
Overall The latest Drewry WCI composite index per 40ft container is 64% below the previous pandemic peak in September 2021, but it is 160% more than the average 2019 (pre-pandemic) rate. Additionally, the average index for the year-to-date significantly exceeds the 10-year average, highlighting the lasting impact of the exceptional conditions during the 2020-2022 period.…
In a dramatic escalation, dockworkers walked off the job early Tuesday morning at 36 major ports across the U.S. East and Gulf coasts, marking the first strike of its kind in nearly 50 years. This stoppage halts nearly half of all U.S. trade, affecting vital imports such as automobiles, consumer electronics, and furniture, though energy…
Overall The latest Drewry WCI composite index per 40ft container is 54% below the previous pandemic peak in September 2021, but it is 236% more than the average 2019 (pre-pandemic) rate. Additionally, the average index for the year-to-date significantly exceeds the 10-year average, highlighting the lasting impact of the exceptional conditions during the 2020-2022 period.…
As labor negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) reach a critical juncture, the possibility of a strike at East and Gulf Coast ports is becoming increasingly likely. The ILA, which represents over 65,000 dockworkers from Maine to Texas, has stated that if a new contract isn’t reached…
The Teamsters Canada Rail Conference (TCRC), the union representing nearly 10,000 rail workers at Canada’s two largest freight railroads, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), has filed a lawsuit challenging the federal government’s decision to end their recent strike. This legal action stems from a series of events that have reignited…
The threat of invasive species like the Asian Long-Horned Beetle and the Emerald Ash Borer continues to devastate U.S. forests, and it’s not just an environmental issue—it’s also a significant concern for global trade. Both the U.S. Department of Agriculture (USDA) and U.S. Customs and Border Protection (CBP) enforce stringent regulations on wood packaging materials…
Overall The Drewry WCI composite index is 45% below the previous pandemic peak, but it is 304% more than the average 2019 (pre-pandemic) rate. Additionally, the average index for the year-to-date significantly exceeds the 10-year average, highlighting the lasting impact of the exceptional conditions during the 2020-2022 period. Freight rates between various ports have shown…
Year over year, cargo theft has surged to unprecedented levels, posing a significant threat to logistics and supply chain industries. The increase in incidents has raised alarms among freight companies and their customers, as losses amount to millions of dollars. We’ll delve into the statistics behind the trend, explore various types of cargo theft, share…
In a move to regulate the shipping industry, the Federal Maritime Commission (FMC) has introduced a new rule designed to enforce the Ocean Shipping Reform Act of 2022. This regulation targets the issue of ocean carriers refusing to provide cargo space to U.S. exporters without a valid reason. Effective from September 23, 2024, the rule…