2016 was a busy year in the world of shipping. The SOLAS VGM (Safety of Life at Sea Verified Gross Mass) mandate along with the Hanjin Shipping bankruptcy were two of the most notable events. As we reflect on 2016, below is a list our top ten global logistics blog posts from this year.
A final rule was recently published in the Federal Register, impacting all ITAR (International Traffic in Arms Regulations) and all BIS (Bureau of Industry and Security) controlled exports. Effective November 15, 2016, all ITAR or BIS controlled exports will be required to list a revised Destination Control Statement (DCS) on the commercial invoice.
Need to work out the international logistics for your recent global sale? There are a few important things to know before beginning the process. Most importantly, you will need to arrange the transportation and file export formalities with governing bodies. With some basic knowledge and the help of a professional freight forwarder, you will be positioned for export success.
The International Trade Administration (ITA) released an updated version of the Free Trade Agreement (FTA) Tariff Tool this week in an effort to help support U.S. exporters. The tool was originally launched in 2011, however, the updated version will encompass the Trans-Pacific Partnership (TPP) tariff elimination schedules.
There are a number of online resources available for new exporters who are looking to expand into foreign markets. The below exporter online resource guide is intended to provide exporting companies with sources, support and information to help grow their export business.
The United States exported $2.34 trillion worth of goods and services during 2014, superseding the volume of any other year in history. As U.S. businesses consider expansion into global markets, it is important to investigate the competitiveness, opportunities and challenges of a particular market. Therefore, the International Trade Administration (ITA) recently introduced the new ITA Top Markets Series, a collection of reports designed to help exporters research and compare foreign markets.
Automated Export System (AES) filings are required on nearly every export shipment from the U.S. If AES is not filed timely, the shipment will be rolled and miss the intended vessel sailing, resulting in roll fees and per diem charges. Failure to comply with reporting requirements could also result in civil fines and/or criminal penalties. So what do exporters need to know about AES to ensure compliance?
Is your business looking to expand its current export program? Or is your business new to exporting and seeking qualified international buyers? The U.S. Department of Agriculture (USDA) Foreign Agriculture Service (FAS) recently announced a new Trade Lead System, providing a platform to help U.S. food and agriculture exporters connect with potential buyers in foreign markets.
With 95% of the world's consumers living outside of the United States, U.S. exporters have boundless opportunities within the global marketplace. In an effort to support export growth and increase the competitiveness of the U.S. business community, the Customs Trade Partnership Against Terrorism (C-TPAT) program will soon be extended to U.S. exporters. On May 17, C-TPAT for Export Entities will commence, supporting the National Export Initiative. The development of the export component for C-TPAT further enhances CBP's partnership with other mutually recognized Foreign Customs administrations, therefore, securing international supply chains.
Did you know that in 2014, 47 percent of U.S. goods exports were sold to Free Trade Agreement (FTA) partner countries? The United States currently has 14 FTAs in force with 20 countries, supporting growth for U.S. products in foreign markets.The reduction of trade barriers by FTAs makes it easier and cheaper for U.S. companies to export their products to these markets.