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…
Senators Bill Cassidy (R-LA) and Catherine Cortez Masto (D-NV) have recently introduced a discussion draft for the Customs Facilitation Act of 2024, a legislative effort aimed at streamlining and modernizing the customs process in the…
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…
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…
Overall This week, the Drewry composite index experienced a 4% increase, yet it has registered a 256% increase compared to the same period last year. Additionally, the average index for the year-to-date significantly exceeds the…
Shipping is a massive industry, it’s global, and it’s absolutely essential. Without it, the world grinds to a halt. But, there’s a catch—it’s also a significant contributor to global carbon emissions. Logistics companies, from ocean…
Imagine, you’re a small business owner who’s just landed a massive order for your custom-designed 4th of July t-shirts. Congratulations—you’re thrilled, and the production line is buzzing. But then, a grim reality check arrives as…
As we approach the peak season, ocean freight rates are experiencing a significant surge, creating challenges for businesses dependent on international shipping. Several factors contribute to this rise, including increased port congestion, tight vessel capacity,…
The U.S. Trade Representative (USTR) recently published a notice in the Federal Register granting the extension of the existing China Section 301 Exclusions including the 352 previously reinstated exclusions and the 77 COVID-related exclusions. These exclusions have been extended to…