Port of LA-LB to Charge $100+ Per Container Per Day
According to the statement made on Monday, containers scheduled to be moved by trucks can stay in the terminals for a maximum of 9 days while containers scheduled to be moved by rail can stay for only 3 days. For every day the container remains in port, it will be charged by $100 per container and increase at an increment of $100 per day
Critical! Vietnam to Develop New “Smart Customs”
By 2030, the Vietnamese government plans to revamp its customs system to be on par with the US Customs. The Chairman of Vietnam’s General Department of Customs has emphasized on the automation of “Smart Customs”, which will improve the quality of service, effectiveness, and security for people and businesses in going through the customs procedure.
Biden Loosening Trump’s Rein on the US-China Trade War. Who’s In Charge?
Since 2001, free trade with China has caused 3.4 million jobs to be lost in the United States, causing the Trump administration to start a trade war between the two nations. However, the Biden administration will begin a review of over 500 Chinese-made products to see if they are exempt from tariffs.
Higher Transportation Costs = More Inflated Prices Right? Here’s Why You’re Wrong.
Suppliers, Shippers, Manufacturers, and Retailers. These represent just a few cogs in the massive machine known as the “global supply chain” where millions in the industry work to deliver your morning coffee to your table. But what happens when transportation costs like freight rates reach record highs like in September? Hyper price inflation or business as usual?
Is China’s Coal Ban Proving to be a Mistake?
China’s restriction to manufacturers like Apple and Tesla amid stricter energy consumption policies seems like a foreshadowing to the current European energy crunch. After failing to secure an adequate amount of energy, China has had state media report its energy shortage to several provinces, including Guangdong Province, a central gathering of China’s population and businesses.
Shippers Beware. Christmas says ‘Hi’
“I half-jokingly tell people ‘Order your Christmas presents now because otherwise on Christmas day, there may just be a picture of something that’s not coming until February or March,'” says Scott Price, President of UPS International.
You missed out… Container Stocks Breach 52-week High
With even mainstream media scrutinizing disruptions to the global supply chain, it’s nice to take a step back and have some positive news for a change. So here’s what’s up, container stocks breach 52-weeks high, pretty obvious from the title right? But here’s why.
ICS’s Latest Proposal: Mandatory Carbon Emission Tax
The International Chamber of Commerce (ICS) has submitted a proposal to the International Maritime Organization (IMO) to introduce the first global tax on carbon emissions on an industry. The proposal follows the growing green initiative in further developing and deploying zero-carbon fuels.
Hapag-Lloyd Can’t “Contain” it Anymore
Hapag-Lloyd ordered another 75,000 TEU worth of containers from China, where most containers are being produced. The move comes at a time when container prices are at an all time high.
Hurricane Ida Expected to Raise Oil Prices
The coming Hurricane Ida, upgraded to a Category 4 storm on Friday, will expect to hit Louisiana coasts on Sunday. The storm is expected to be “extremely dangerous” according to the US National Hurricane Center and is expected to affect more than 95% of oil production facilities in the Gulf.