NorthPoint Logistics’ Post

This week, the transportation market experienced minimal changes, with domestic pricing in all modes continuing their slight downward trend. Domestic capacity has also seen incremental shifts, with marginal trends of loosening capacity in the Lower Atlantic and tightening in the Midwest and California. A significant disruption occurred in global trade due to an explosion at the Ningbo-Zhoushan port in China, causing extensive delays and ripple effects across the supply chain, prompting businesses to seek alternative shipping strategies. Meanwhile, the air cargo sector continued its upward trend for the sixth consecutive month, driven by strong demand and supply chain disruptions, raising questions about the sustainability of these conditions as peak season approaches. #northpointlogistics #globaltrade #transportation #peakseason https://lnkd.in/gdt3MSU3

CBP is developing a Forced Labor Case Management System to trace products tied to Uyghur Forced Labor.    If you're involved in importing goods to the US, it's crucial to ensure no Forced Labor is used in production or shipping.    Stay informed on the Uyghur Forced Labor Prevention Act by checking out the US Department of Homeland Security website. https://www.dhs.gov/uflpa   For more insights on this development and how your business may be impacted, reach out NorthPoint Logistics to speak with a Licensed Customs Broker!   #NorthPointCustoms #UyghurForcedLabor #CBP #ForcedLaborPrevention #HomelandSecurity #NorthPointLogistics #GlobalTrade  

Be on the lookout for Chris Verbrick, Nick Best, CSCP and Tim Flanigan Jr. at SuperZoo this week! NorthPoint Logistics can offer innovative solutions for your complex supply chain needs. We are ready to help streamline your operations with unique and tailored solutions! Connect with one of the guys to learn how we have helped other partners in the pet industry!

CBP Updates: Changes to De-Minimis, or Low Value, Entries   Starting August 17th, US Customs and Border Protection announced significant changes to De Minimis Entries. So, what does this mean for your business?   De Minimis Entries are low value entries with a total product value under $800 and are duty-free. However, with the upcoming changes:   -De Minimis Entries must now be filed before arrival at the first port*; otherwise, they will be rejected. -If an entry needs to be filed after arrival, it will have to be cleared under a different entry type. -Goods subject to a Partner Government Agency (PGA) requirement will be ineligible for release from manifest entry procedures.   Stay informed and compliant with all CBP Updates by saving this link: https://lnkd.in/gaYJY2Z   For more detailed information, check out the recent CSMS # 61668562 update regarding the new deployment date for Automated Enforcement of Entry Type 86 Filing Deadlines: https://lnkd.in/gENCAh7W   #NorthPointCustoms #CBP #DeMinimisEntries #TradeCompliance Reach out to NorthPoint Logistics if you have questions regarding the changes around De-Minimis, or Low Value, Entires that will impact your business! *Due to an update provided by CBP on 8/15/24, this post has been updated to show most recent requirements.   https://lnkd.in/gaYJY2Z

Check out this week's newsletter: we delve into several key developments affecting the freight and shipping markets. Domestic freight rates across all modes have continued to fall, with national average diesel prices also dropping. Notably, the Gulf Coast region saw a slight increase in diesel prices, diverging from the nationwide trend of falling fuel costs. Carrier earnings calls from major carriers like Landstar, Werner, and Knight-Swift indicate early signs of market stabilization. Additionally, the U.S. government is replenishing the Strategic Petroleum Reserve with a purchase of 4.65 million barrels of crude oil, a move aimed at bolstering national energy security. Lastly, the U.S. Trade Representative has delayed planned tariff hikes on Chinese imports in response to concerns from industry stakeholders. https://lnkd.in/eZHT-cd4

The freight industry is facing a mix of easing domestic rates and capacity alongside persistent challenges. Freight fraud has become a sophisticated epidemic, exploiting digital platforms and posing significant threats, while severe weather off the southern coast of Africa and disruptions in the Red Sea have left ocean carriers with limited routing options. Combating these issues requires increased industry collaboration, technological innovation, and enhanced governmental coordination to protect stakeholders and maintain supply chain stability. https://lnkd.in/gusa76Re

This week saw global trade volumes rebound in June, with US imports and exports on the rise, while domestic pricing remained stable. A faulty software update from CrowdStrike caused significant IT outages, disrupting supply chains and highlighting the vulnerability of logistics to cyber incidents. Additionally, ongoing disruptions in the Red Sea continue to impact shipping routes, causing increased transit times and higher container rates, particularly affecting the chemicals industry. https://lnkd.in/gAGTXmCa

Coming off a tumultuous holiday week, the story from the past week has been one of comparative stability. We saw relatively flat movement in domestic pricing and only saw minor shifts in regional capacity indices. We bring you reports on congestion at the Singapore port which is beginning to disrupt carrier operations. The air cargo market experiences its sixth month of double-digit growth, forecasting a busy Q3 and Q4 for air freight. And the persistent low waters at the Panama Canal are poised for some relief as the rainy season begins. https://lnkd.in/gb_gjdP7

We hope all of our clients and readers had a Happy 4th of July! https://lnkd.in/gBh3j2T9