MIQ Logistics, Inc., S.R.L. was recently presented the Safe Partner trophy by Mineração Taboca S.A. in recognition of their outstanding commitment to safety on the Minsur – San Rafael B2 Project throughout 2018. MIQ Logistics is providing an “end-to-end” logistics solution for this major project, including multi-modal transportation and management of the on-site project warehouse.
The Minsur – San Rafael B2 project, designed to extend the life of the San Rafael tin mine in the Puno Region of southern Peru, represents an investment of approximately US$200 million. San Rafael is the leading tin-producing mine in South America, and the third in the world. The mine is located in the eastern mountain range of the Andes, at 4,500 meters above sea level. The mine has been operated by Minsur S.A. since 1977, and today produces 12% of the world’s tin.
On Wednesday, March 20, 2019, the United States Trade Representative (USTR) office released a second Notice of Product Exclusions to the Section 301 List 1 products currently subject to a 25% tariff.
The scope of each exclusion is governed by the 10-digit level Harmonized Tariff Schedule (HTS) numbers and the descriptions identified in the notice. It is important to note that these exclusions are available for any product that meets the description in the official notice, regardless of whether the importer filed an exclusion request. If you import products that fall under these descriptions, you will be able to claim an exclusion using HTS number 9903.88.06.
- MIQ Logistics, a global logistics company, brings its strong presence in the USA, Asia, Europe and Latin America, and consolidates the Noatum Logistics portfolio in the Mediterranean, Europe and North Africa
- After the acquisition, Noatum Logistics will enhance its international leader position in Supply Chain Management with a global reach
- Noatum Logistics will have a consolidated turnover of over 600 million USD
Madrid, 21 March 2019 – Noatum Logistics, the Noatum Maritime division specialising in logistics, international transport and customs, has signed a definitive agreement to acquire MIQ Logistics, which is based in the USA and has 60 plus offices in 19 countries. The agreement is expected to close in the coming weeks.
Source: National Retail Federation March 8, 2019
With the retail industry in its annual lull between seasons and plans for a tariff increase on hold, imports at the nation’s major retail container ports are expected to drop to their lowest level in almost a year this month, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Now that the holiday season is over and summer has yet to crank up, this is the quiet time of year for retail supply chains,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retailers are also taking a break from the rush to bring merchandise in ahead of tariff hikes now that the increase that was scheduled for March has been delayed. We are hoping that the delay is permanent and, better yet, that tariffs of the past year will be removed entirely. But either way, imports will start to build up again soon as retailers prepare for the summer.”
International transportation continues to be impacted by the India – Pakistan conflict. The MIQ India team has shared the following Information:
In a press release dated March 4, 2019, the Office of the United States Trade Representative (USTR) announced “the United States intends to terminate India’s and Turkey’s designation as beneficiary developing countries under the Generalized System of Preferences (GSP) program because they no longer comply with the statutory eligibility criteria.”
During the month of February 2019, MIQ Logistics was involved in a number of events throughout the logistics industry. Read industry updates, services offered by MIQ, and events that will be taking place in the February 2019 logistics link.
Source: Institute for Supply Management – March 1, 2019
Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 118th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Transportation is being impacted by the current India-Pakistan conflict. Our MIQ India team advised that a short-term impact to business and freight capacity is likely, especially in Delhi. The MIQ India team has shared the following Information:
- India is on high alert.
- Pakistan air space is blocked for most flights. International flights to and from Delhi are being re-routed, adding almost 3 hours of flying time to certain parts of Europe and almost 2 hours for Dubai and the Middle East.
- The reductions in air capacity could result in additional re-routings, potential backlogs of cargo, increased need for fuel for longer routes, and possible increases in air rates.
MIQ will continue to monitor any service delays and/or routing changes that can impact transit times. We will provide updates as they are available.
For more information, please contact your local MIQ Logistics representative.
On February 24, 2019, the President of the United States announced that the increase in tariffs from 10% to 25% on $200 billion worth of Section 301 List 3 imports from China scheduled for March 2, 2019, is being postponed. The tariffs will remain at 10% for the foreseeable future as no new deadline for increasing the duties has been announced.