September 2022
By NNR USA In Uncategorised On 15th September 2022
MARKET UPDATE
Read about the tentative agreement that averted a big U.S. railroad strike, Typhoon Muifa causing shipping delays, and much more on air, ocean, truck, warehousing, and U.S. Customs.
AIR FREIGHT
Air Market Update
Improvement continues in the air industry, including some decreases in fuel surcharges and shortened cargo handling wait times.
TIP OF THE MONTH
What is the best way to move freight?
When time is money, consider splitting your shipment, sending what you need now by air, and the rest by ocean. Air transportation remains more predictable than ocean, especially for longer transits.
FEATURE ARTICLE
Oncoming Train - Potential Rail Strike in Question
Just when you think things may return to normal, there’s another surprise around the corner. Companies within the U.S. that rely on trains for transporting goods may have just avoided what could have been a bumpy ride.
Mark Williams, Head of Sales Operations & Strategy at NNR USA, will provide the latest on the U.S. rail strike situation.
OCEAN FREIGHT
Ocean Market Update
This year we are not experiencing the traditional peak season from Asia to the USA as we've seen in the past. The shift in consumer spending on services, inflation, and an inventory correction may be taking place among some retailers. Read more about capacity, freight pricing correction blip, and trade lane status.
TIP OF THE MONTH
Pad your transit time with at least two weeks, and schedule bookings six weeks out if possible.
Moving inland USA, the East Coast remains a better option for many destinations east of the Mississippi.
DOMESTIC TRANSPORTATION & WAREHOUSE
The Latest on California's AB5
When the Supreme Court denied hearing the appeal of California AB5, the lower court lifted the stay, and it was assumed that the law would go into effect. Learn more about where AB5 is at today and what is expected to come.
AB5 is a 2020 California law meant to reclassify independent contractors into employees.
SERVICE SPOTLIGHT
Need Temperature Controlled Space?
Our newest warehouse in Kyushu, Japan has four levels of storage options ranging from bonded to cold storage.
CUSTOMS BROKERAGE & TRADE COMPLIANCE
Export Sanctions, it’s Iran’s turn in the limelight!
While much of the recent news has been about Russian additions to the Specially Designated Nationals (SDN) list, Iran is now in the news for two recent incidents.
Merchandise Processing Fee Changes on Oct 1st!
Effective October 1, 2022, U.S. Customs and Border Protection is adjusting the minimum and maximum for the Merchandise Processing Fee (MPF) in accordance with the Fixing America's Surface Transportation Act (FAST Act.)
Latest on Section 301 China Tariffs
Section 301 China List 1 and 2 tariffs continue to be in effect as the tariff action heads towards a 4-year review process.
TIP OF THE MONTH
Country restrictions should be considered when exporting to a new region.
Trade Embargoes are economic sanctions that restrict doing business with certain countries.