Search
  • Home
  • News
  • About us
  • Global network
  • Careers
  • Contact us

April 2018 Newsletter

A monthly roundup of our Industry Updates, Blogs and Market Information.

China Imposes Tariffs on US Products The situation regarding Chinese tariffs on US products continues to develop. On March 8th President Trump announced new tariffs on Steel and Aluminum imports. As you are no doubt aware, on March 22, 2018, President Trump signed a memo recommending tariffs on an estimated $50 billion in imports from China. China countered on March 22nd, announcing new tariffs on more than $3 billion in US exportsOn April 4, China announced new tariffs on 106 US products. The effective start date for this list has yet to be announcedA full list of those products can be found HERE

We recognize that any potential disruption in your supply chain process is unpleasant news. As your logistics partner, we will continue to offer our support. Meanwhile, do not hesitate to contact our customer service team if you have questions regarding the status of your shipments.

Newsletter Spacer Line 600.jpg

Industry Update - Steel and Aluminum Tariffs

Tariffs on steel and aluminum imports began to be imposed on goods entered or withdrawn from warehouse for consumption on or after March 23, 2018 at 12:01 AM (EST). The proposed duty rates of 25% on the import of steel and 10% on aluminum will be in addition to any other duties, fees, or applicable charges to those goods. These duty rates will apply to all countries except Canada and Mexico.

In compliance with the Presidential order, the Secretary of Commerce has issued regulatory instructions explaining the process for American companies to seek exclusion from these tariffs. Links detailing that process can be found HERE and HERE.

If you believe that your product qualifies for exemption to the new tariffs the US Department of Commerce has published details of the exclusion process HERE. Additional summary information can be found HERE 

Newsletter Spacer Line 600.jpg

Market Trends and Developments we are Watching

  • Cranes delivered to US Terminals: US East Coast ports are continuing to upgrade terminal equipment so they can better serve neo-Panamax vessels. Ultra-large vessels capable of carrying between 10,000 and 18,000 twenty foot containers are now making routine calls to east coast ports. Some of the ports that have taken delivery of new equipment since January of 2018:
    • Port of Baltimore purchased six new cranes in January of this year. 
    • Wilmington took delivery of 2 new cranes this week with a third coming later in the year.
    • On March 5th, the South Carolina Port Authority announced receipt of two ship-to-shore cranes.
    • Port of Philadelphia received the first of two new super post-Panamax cranes this month.
    • On March 21, the first of four new cranes was put into service at the Port of Savannah.

 

 

  • Generalized System of Preferences (GSP) President Trump signed a bill that includes a provision for the extension of the Generalized System of Preferences (GSP) through December 31, 2020.  It will go into effect for goods entered on and after 30 days from date of enactment. Importers should start checking their records for entries that will qualify for refunds under the newly extended GSP

 

  • There have been a number of recent incidents of accident or damage involving container vessels. Source links can be found here and here. These incidents illustrate the importance of cargo insurance. Not all beneficial cargo owners opt to insure their goods against loss or damage, however accidents do happen. If a carrier claims General Average, you could be forced to share in the loss if you had cargo on that vessel. This event can be very expensive. If at any time cargo is thrown overboard during rough waters, General Average may be claimed. General Average can also be claimed if there is damage to the vessel or extra measures were taken to save the voyage. For more information, or a competitive quote, contact us. 
Newsletter Spacer Line 600.jpg

Tips and What Ifs - How can you Mitigate Disruptions in Transporting your Cargo?

The potential ripple effects caused by disruptions in the transport of your goods are greater the more connected global supply chains and the economies that support them become. Whether it is a hurricane or other natural disaster, labor unrest, or even trade disputes, the movement of your cargo will likely be disrupted or delayed at some point. It is true that no supply chain is immune from these disruptions; however, there are steps you can take to mitigate the risks and minimize the impact to your business. In this article, we discuss different events that could disrupt the transport of your cargo and how you can prepare for them. Read the Full Article

Newsletter Spacer Line 600.jpg

Tips and What Ifs - How can you Mitigate Disruptions in Transporting your Cargo?

The potential ripple effects caused by disruptions in the transport of your goods are greater the more connected global supply chains and the economies that support them become. Whether it is a hurricane or other natural disaster, labor unrest, or even trade disputes, the movement of your cargo will likely be disrupted or delayed at some point. It is true that no supply chain is immune from these disruptions; however, there are steps you can take to mitigate the risks and minimize the impact to your business. In this article, we discuss different events that could disrupt the transport of your cargo and how you can prepare for them. Read the Full Article

 

Latest News

Industry Update:  25% Tariff on June 15 List of Chinese Products

  As Issues related to tariffs on Chinese made products continue to evolve we will continue to provide updated information. On August 7, 2018 The Office of the United States Trade ...

read more

July 2018 Newsletter

A monthly roundup of our Industry Updates, Blogs and Market Information.

read more

Industry Update:  25% Tariff Exclusion Process

  As you are aware from our previous Industry Update , a 25% tariff imposed on goods imported from China went into affect on July 6, 2018. A list of these products can be found HERE. ...

read more

Industry Update: 10% Tariff on Additional Chinese Products

On July 10, 2018 the Office of the United States Trade Representative announced they are proposing an additional 10 percent tariff on Chinese made products. The additional list of ...

read more

If you like what you see, visit our library and subscribe.

Explore our complete Smart Source Library

Latest News