MARCH 1st | VOLUME 37
The importance of cargo insurance
Since November, four vessels on the transpacific have lost containers during their voyage andhad to divert to a nearby port for a damage assessment and repairs. The thousands ofcontainers lost overboard should serve as a reminder of the importance of cargo insurance. Ifyour company needs a quote for cargo insurance to protect against loss or damage while intransit, contact us today.
President signs Executive Order reviewing supply chains
The supply chain challenges shippers are facing because of delays and single-country or limitedsourcing of critical components led the President to yesterday sign an Executive Order. The100-day review is meant to analyze the risk and exposure of US companies and industries anddecide whether or not certain items are in the country’s national interest to maintain stockpilesor protect.
The new Italian government has announced extended travel restrictions between Italianregions in response to elevated positive test results. Restrictions on non-essential travel wereto expire February 25th but have been extended through March 27th.
Marking decision challenged
Hong Kong is taking the United States to a dispute panel at the WTO over the decision last Julyto require a change to “Made in China” for all products of Hong Kong origin. The US asserts thatthe decision was taken for national security reasons.
Six cents a pair
The question of whether or not shippers will pay for green initiatives by ocean carriers alwayscomes down to a matter of price. When carried through to the pocket of the ultimate purchase,this story about the cost amounting to six cents per pair of sneakers puts it in stark relief.
FMC investigating ocean shipping
The US agency charged with regulation of waterborne commerce is demanding carriers andMarine Terminal Operators provide information about their demurrage and detentionpractices. Shippers are welcome to weigh in with their experiences, headaches and additional supply chain costs.