Welcome to the August 2014 Logistics Link, the MIQ Logistics monthly newsletter
MIQ LOGISTICS UPDATES
Global Trade magazine named MIQ Logistics one of America’s Top 3PLs (third-party logistics providers) and one of the Top 10 providers in its Most Versatile category. The magazine will publish its complete list of leading 3PLs in the September/October issue.
MIQ Logistics will be attending and exhibiting at the Breakbulk Americas 2014 forum September 29 – October 2, 2014 in Houston, TX. Stop by booth 1772 to learn about our experience with project logistics. Let us know if you are attending as well!
LOGISTICS INDUSTRY TRENDS
U.S. Economic Update
The Conference Board: “Consumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers’ spirits. Looking ahead, consumers were marginally less optimistic about the short-term outlook compared to July, primarily due to concerns about their earnings. Overall, however, they remain quite positive about the short-term outlooks for the economy and labor market.”
Institute for Supply Management (ISM) Manufacturing Report on Business: Economic activity in the manufacturing sector continued to climb in July for the 14th consecutive month.
- ATA Truck Tonnage Index Increased 1.3% in July: After a surprising decrease in June, tonnage really snapped back in July,” said ATA Chief Economist Bob Costello. “This gain fits more with the anecdotal reports we are hearing from motor carriers that freight volumes are good.”
- Cass Freight Index shows U.S. Shipment Volumes and Shipment Expenditures Declined in July: “The freight logistics sector slowed in July, following a seasonal trend, with both freight shipments and freight payments down 3.9 percent from the previous month.”
- Freight TSI Declined in June: The Freight TSI declined 0.9 percent in June from May, falling after four consecutive monthly increases.
Global Market Update
U.S. Import Forecast Could Hit All-Time Record in August: The Global Port Tracker report released by the National Retail Federation and Hackett Associates says August is being forecasted as the highest U.S. import volume month on record (Global Port Tracker began tracking import volumes in the year 2000). U.S. ports followed by the report handled 1.48 million Twenty-Food Equivalent units in the month of June, and estimates for August, September, October, November and December can all be found below.
Transpacific Eastbound General Rate Increase (GRI) and Bunker Fuel Adjustments: The announced levels from the carriers are listed below.
Global Regulations Update
- ILWU and PMA Reached Tentative Agreement on Health Benefits: The ILWU and the PMA announced Tuesday that they have reached a tentative agreement on terms for health benefits, subject to agreement on the other issues in the negotiations.
- US CBP Announces C-TPAT Export Component: U.S. Customs and Border Protection (CBP) recently published the eligibility requirements and the security criteria for exporters to participate in the Customs-Trade Partnership Against Terrorism (C-TPAT).
- Canadian Customs (CBSA) Announces Trade Compliance Verification Priorities: The CBSA manages trade compliance with the Tariff Classification, Valuation, and Origin programs using the following two post-release verification processes: (1.) Random verifications and, (2.) Verification priorities.
- New Harmonized System standards to enter into force on 1 January 2017: The new version of the HS includes 234 sets of amendments. Environmental and social issues are a major feature of these amendments, due to the importance of the HS as a global tool for collecting trade statistics and monitoring trade.
Customer: A leading engineering, procurement and construction (EPC) contractor that provides solutions to the oil, gas and construction industries in Iraq.
Engineering: MIQ Logistics worked with our Middle East global-network partner to engineer an end-to-end solution. The proposal leveraged the Project Logistics expertise of MIQ Logistics, our partner’s destination capabilities, and a creative pricing structure.
Execution: The team expertly procured transportation and coordinated shipment activities with all parties involved, including the supplier, customer, ocean vessel operator, packer, surveyor and stevedore.
Result: The shipment moved safely, securely and consistently within the construction timeline. MIQ Logistics and our Middle East global-network partner will continue to move cargo for subsequent phases of the project.
EVENTS AND UPDATES
Breakbulk Americas 2014: 9/29-10/02/14, Houston, TX, Booth 1772
Retail Supply Chain Conference 2015 (RILA): 2/22 – 2/25/15, Orlando, FL, Booth 233