President's Desk Newsletter

INDUSTRY NEWS

Panama Canal seeks more long-term clients

Starting in October, the Panama Canal will implement a new long-term slot allocation system for its larger neopanamax locks to enhance transit certainty and flexibility. This system will allow clients to book multiple slots in one transaction through various packages tailored to different market segments. The first sealed bidding period will cover bookings from January 5, 2025, to January 3, 2026. In response to a severe drought affecting operations for the past year, the Panama Canal Authority (ACP) is also preparing a $2 billion expansion of a water reservoir, with a 18-to-24-month timeline pending Supreme Court approval. Read More

North American cargo crime takes big jump as thieves get more organized

Cargo theft in North America surged 49% in the first half of 2024, with thieves increasingly targeting high-value goods, leading to an 83% rise in average losses per incident to $115,230. Southern California was hit hardest, accounting for 36% of thefts, particularly near major freight hubs like the ports of Long Beach and Los Angeles. Electronics were the top target, followed by home and garden products, clothing, and food. The ongoing rise in cargo crime highlights the need for shippers to adopt robust, multilayered security measures and carefully vet their carrier networks. Read More

LA-LB rail dwells on the rise as port complex enters height of peak season

Rail container dwell times at the Ports of Los Angeles and Long Beach have nearly doubled since earlier this summer, with some terminals reporting averages of over nine days. This rise, driven by booming imports, has raised concerns among port users that delays could worsen as the ports enter peak season. The situation is compounded by spot chassis shortages and the potential for increased cargo flow due to issues on the East and Gulf coasts, as well as in Canada and Tacoma. Despite these challenges, port officials report that operations remain fluid and are working to manage the situation proactively. Read More

Rail container dwells in Seattle-Tacoma still high, but relief in sight

Port congestion and rail container dwell times in the Pacific Northwest are peaking, with some relief expected later this month. Shippers are facing delays as intermodal container volumes surged due to retailers rerouting imports amid labor strike concerns in Canada and the U.S. East and Gulf coasts. Import volumes have spiked, straining terminal and rail capacities, but are expected to level off soon. Railroads like BNSF and UP are optimistic about managing the ongoing volume surge, and overall supply chain coordination remains strong. Read More

First signs of a deal emerge in long-running German port dispute

Germany’s United Services Union (ver.di) has recommended its members accept an improved wage offer from port employers, potentially ending a long-running dispute that has caused significant disruptions across the country’s transport sectors. The offer includes a tax-free bonus of €1,700, a wage increase of €1.15 per hour starting in October, and enhanced shift and holiday bonuses. A member survey will determine whether the offer is accepted, with a final decision expected on September 27. Read More

CUSTOMS BROKERAGE NEWS

USITC Makes Determination in Five-Year (Sunset) Review Concerning Common Alloy Aluminum Sheet from China

The U.S. International Trade Commission (USITC) has decided to maintain the antidumping and countervailing duty orders on common alloy aluminum sheet imports from China. The decision was made after a five-year (sunset) review, concluding that revoking these orders would likely lead to the continuation or recurrence of material injury to the U.S. industry. The decision was supported by Commissioners David S. Johanson, Rhonda K. Schmidtlein, and Jason E. Kearns, while Chair Amy A. Karpel did not participate. This review process started in January 2024 and was expedited due to insufficient response from the Chinese side.?

?The full report will be available by September 20, 2024, on the USITC website.

Canada's Notice of intent to impose surtaxes on Chinese steel and aluminum in response to unfair Chinese trade practices

The Canadian government will impose a 25% surtax on steel and aluminum imports from China starting October 15, 2024, responding to China's unfair trade practices, including excessive subsidization and environmental issues. The action protects Canadian workers and businesses from economic threats caused by China's overcapacity in these sectors, aligning with similar measures taken by trading partners like the U.S. The government will review the surtaxes within a year and may extend them. Read More

EASTERN NEWS?

Eastern Supports ECAF at Annual Golf Classic

Eastern recently affirmed its commitment to community support by participating in the?Elmhurst Children’s Assistance Foundation (ECAF)? 28th Annual Golf Classic and Awards Dinner on August 19. Held at The Preserve at Oak Meadows in Addison, IL, the event enjoyed ideal golfing conditions—sunny and cool—with lush green grounds providing a picturesque setting. Eastern’s team, including Dave Cooper, Eric Wagner, Sean Kwon, and Jack Wagner, engaged in the day’s activities, which included check-in at 11:30 AM, a shotgun start at 1 PM, and a concluding Awards Dinner at 6:30 PM.

?ECAF’s mission to provide essential financial support to Elmhurst families facing severe medical challenges closely aligns with Eastern’s core values. By supporting ECAF’s Golf Classic, Eastern reaffirms its dedication to community involvement and strengthens its partnership with organizations committed to making a meaningful impact on those in need. Read More

Eastern Racing Secures P1 in the 2Hours of Portim?o in Porsche Sports Cup Suisse

Eastern Racing, in partnership with Enrico Fulgenzi Racing, secured a major victory at the Porsche Sports Cup Suisse, held from August 29-31, 2024, at the Autódromo Internacional do Algarve in Portim?o. Eastern's President and driver, Eric Wagner, teamed up with Enrico Fulgenzi in the 2-hour endurance race, winning first place in the Class 21: 992 GT3 Cup series. Read More

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