September Industry Updates Brought to you by Mainfreight
US Diesel Prices Stay Nearly Flat for Second Straight Week - Journal of Commerce
The average cost of diesel in the U.S. stayed nearly flat for the second week in a row, rising three-hundredth of a cent in the week ending Sept. 17 as oil prices fell. The average cost per gallon, $4.135, is up 30.2 cents from the same period a year ago, according to the U.S. Energy Information Administration.
Shippers Report Tightening Truck Capacity in Mexico - Journal of Commerce
Peak season could mean fewer available trailers for U.S.-bound freight, logistics operator warns. U.S. shippers importing goods from Mexico say they are looking for new transportation options as truckload capacity along the border gets tighter. As more goods are shipped directly from China to Mexico, fewer shipments are routed through U.S. ports, which means fewer trucks heading south to Mexico. The value of goods shipped by truck across the U.S.-Mexican border hit an all-time high in May, increasing 17.1 percent year-over-year to $29.1 billion.
ILA Negotiations *Update* - Federal Mediation and Conciliation Service
The Federal Mediation and Conciliation Service conducted negotiations with the ILA and USMX yesterday and have now announced they will continue negotiations for a 90 day period from end of contract, which takes us to December 29th. In taking this significant step the parties emphasized that they are doing so for the "good of the country," to avoid any interruption in interstate commerce. The extension will provide the parties an opportunity to focus on the outsanding core issues in a deliberate manner apart from the pressure of an immediate deadline.
APM invests $860 million stake in Russian ports deal - Cargo Business News
APM Terminal will purchase a 37.5 percent stake in Russia's Global Ports for $860 million from N-Trans to establish a presence in the Russian cargo market. APM will run the company equally with N-Trans, each owning 37.5 percent, with 25 percent being listed in London. The agreement, was struck on the heels of Russia's acceptance into the World Trade Organization in August. This is the largest direct foreign investment in Russia's transportation sector to date.
Upcoming Teleconference on Exporting - National Small Business Association
On Tuesday, Sept. 25 at 2:00 p.m. EDT, the National Small Business Association (NSBA) and Small Business Exporters Association (SBEA), will host a teleconference featuring The Honorable Eric Hirschhorn, Under Secretary of the U.S Commerce Department’s Bureau of Industry and Security (BIS). Mr. Hirschhorn will discuss the anticipated Export Control Reform initiative and how these changes will likely impact small- and mid-sized exporters. As the Under Secretary at BIS, Mr. Hirschhorn oversees efforts to advance U.S. national security, foreign policy and economic objectives by ensuring an effective export control and treaty compliance system. A long-time expert on exporting and national security, Mr. Hirschhorn will answer your questions on the challenges you face with export controls as well as provide an inside look at key efforts within BIS to improve exporting. Please click here to register today.
China's Next Stimulus Measures Could Include Expanded Tax Rebates on Exports - Cargo Business News
In order to inject new life into its sagging economic growth, China could reportedly expand tax rebates this month to exporters as part of stimulus efforts to help counter weakened global demand for the manufacturing giant's goods. The Chinese government has indicated it might offer a full rebate of the 17 percent value added tax on products like furniture, shoes and toys, according to a Bloomberg report. The current rebate reportedly ranges from 13 to 15 percent. China slowed considerably to 1 percent export growth in July.
Upcoming Holiday in China
China will on Mid-Autumn Festival and Chinese National Holiday from September 30 through October. Business will resume Oct 08. All carriers and customs offices are closed during the Holiday. If you have cargo that needs to be arranged at this time – first check with your factory or supplier – then let us know as early as you can. We will arrange bookings and transport in advance where possible. Some carriers will cancel vessel sailings during this time period.