ECX Newsletter: Volume 52 – October 15, 2021
Biden Announces Port Of LA Will Operate 24 Hours A Day In Effort To Ease Cargo Backlog
In an effort to address the growing supply chain crisis caused by the cargo ship bottleneck, President Joe Biden announced Wednesday a deal in which the Port of Los Angeles will begin operating 24 hours a day.
“Today I’m announcing that the Port of LA will begin operating around the clock 24/7 to make sure Americans can get the goods they need,” Biden tweeted. “My Administration is working around the clock to move more goods faster and strengthen the resiliency of our supply chains.”
A similar plan will also likely also to move forward for the Port of Long Beach, the Los Angeles Times reported.
The two ports are responsible for nearly half of all imports into the U.S.
China 301, 232 tariffs not going away soon.
USTR Katherine Tai, in remarks prepared and delivered last week, told an audience that the Biden Administration plans to maintain the current tariffs while working to ensure that China meets commitments made in the Phase I deal agreed to with former President Trump in January, 2020. Her remarks were the most comprehensive to date on how the current President plans to handle the relationship during his term.
The USTR did mention that the government would consider restoring a number of expired exemptions, a promise made good in this Federal Register filing.
SAF isn’t enough
That’s what IATA head Willie Walsh, former head of IAG, told the World Cargo Symposium about Sustainable Aviation Fuel. Airlines cannot shoulder alone and carbon emissions are “the fossil fuel billionaires problem.”
That’s the figure from the Organisation for Economic Co-operation and Development (OECD) that is being added to global inflation by the supply chain crisis. With this amount, it pushes the rate for G20 countries to 4.5%
UK Maersk diversions
A.P. Moller-Maersk has diverted ships from scheduled UK port calls because of a shortage of truckers in the UK and increasing congestion at ports in the country. Large containerships are sent elsewhere and smaller feeder vessels are shuttling containers to and from ports.
Additional data coming for shipments transiting Mexico.
Beginning January 1st, the Mexican government will begin requiring additional data elements for shipments transiting the country aimed at reducing cargo theft and moving smuggled goods through the country.