News

ATA Truck Tonnage Index 092314

The ATA Truck Tonnage Index Hits New Record High In August

“American Trucking Associations’advanced seasonally adjusted For-Hire Truck Tonnage Index increased 1.6% in August, following a gain of 1.5% the previous month. In August, the index equaled 132.6 (2000=100) versus 130.5 in July. August’s index is the highest on record, surpassing November 2013 (131.0).”

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Fire at Port of Los Angeles has resulted in Terminal Closures

A fire broke out at the Port of Los Angeles Monday night, threatening a warehouse and nearby cargo ships. An article from the Los Angeles Times reported toxic fumes were being released from the fire early Tuesday morning, causing concerns over air quality. No injuries have been reported.

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Blue Legal Icon

Update on Personal Liability for Incorrect Customs Declarations

Any individual directly involved in the import process may have personal liability for incorrect Customs declarations, according to the Court of Appeals for the Federal Circuit.

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Colombia Overtakes Peru Becoming The Region’s Fastest-Growing Big Economy

As he prepared to begin a second term as Colombia’s president on August 7th, the first name that Juan Manuel Santos inked in for his cabinet was Mauricio Cardenas, who keeps his job as finance minister. That was no surprise: helped by an investment boom, the country’s economy grew by 6.4% in the first quarter compared with the same period last year. Mr Cardenas says the second quarter was strong, too. The government will be raising its growth forecast for this year from 4.7%.

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July 2014 Freight Transportation Services Index (TSI)

July 2014 Freight Transportation Services Index (TSI)

“The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 0.9 percent in July from June, rising after a one-month decline, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics’ (BTS). The July 2014 index level (119.6) was 26.5 percent above the April 2009 low during the most recent recession.”

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MIQ Container Yard

Continued Chassis Shortages At Major U.S. Ports

MIQ Logistics wishes to provide information concerning a shortage of chassis in the major ports at both U.S. coasts.

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U.S. Import Cargo Volume 090914

U.S. Retail Imports Reportedly “Above Average”

Today the monthly report from Global Port Tracker was released by the National Retail Federation and Hackett Associates.  The report points to import volumes at the U.S. ports that are covered by Global Port Tracker to approximate 1.47 million containers in the month of September.  The all time record for U.S. imports was hit in August 2014 when the container count hit approximately 1.53 million TEU’s.

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Cass Freight Index Report August 2014

Cass Freight Index – August 2014

Shipment Volumes

“August shipment volume increased 2.3 percent, reversing some of last month’s 3.9 percent slide. August shipments are 4.9 percent higher than a year ago and are up 13.9 percent in 2014.  The Institute for Supply Management’s August PMI rose 3.3 percent to 59, the highest level since March 2011’s 59.1, indicating that domestic manufacturing is continuing to gain strength. Driving this PMI increase were new orders, increasing by 5.2 percent, and order backlog which climbed 5.1 pcercent.”

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U.S. Unemployment 090514

U.S. Unemployment

On Friday 9/5/14, the Burea of Labor Statistics released their latest “Employment Situation Summary”. For the month of August, total nonfarm payroll employment witnessed an increase of 142,000; with the current U.S. unemployment rate at 6.1%.

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Plane

China Broadens VAT Exemption for International Freight Forwarding Services

China’s State Administration of Taxation (SAT) issued guidance  (Bulletin 42) that extends VAT-exempt treatment to all international freight forwarding services. The new rules went into effect on September 1, 2014.

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