|Alba Wheels Up is pleased to announce that we are beginning a new, twice-monthly newsletter intended to bring important issues in international trade to our clients. These newsletters will feature a lead story posted on our website as well as shares to other stories that we are seeing in the market and feel you should be aware of that could impact your business. As always, if you have any suggestions or feedback or stories you would like to see, feel free to contact us and share your ideas.|
|A case for cargo insurance|
Maersk vessel loses 750 containers, sails to Mexico instead of Los Angeles. The ONE Apus lost 2000 containers at sea. The Maersk Essen just lost 750 containers between China and Los Angeles and is diverting to Mexico to discharge. Both of these incidents serve as an opportunity to remind shippers of the importance of cargo insurance – and the limitations of liability that vessel operators have which underscore the importance of carrying insurance. Photo credit: Maersk
What if COVID closed the ports? With COVID infections racing through Los Angeles, the uncomfortable question was finally asked – what would happen if an outbreak spread through the skilled pool of longshore labor required to load and unload containers from an already two dozen-plus backlog of ships in Southern California. FreightWaves put that question to LA and Long Beach port leadership and here’s what they had to say.
At the end of 2020, the Department of Homeland Security published its plan to combat counterfeit and pirated items through e-Commerce supply chains. Read the announcement and contact your Alba representative for guidance on whether or not this will impact your business process.
One of the last worries of US importers utilizing Vietnam as a country of origin was whether or not the outgoing administration would take action in one of the two investigations underway prior to their departure earlier this week. While they found injury in the currency investigation, thankfully no action was taken.
Will the MOC step in again? With freight rates continuing a meteoric rise on the eastbound transpacific, it was the interest of China’s Ministry of Commerce and the Federal Maritime Commission late last year that seemed to arrest them for a period of time. The Loadstar is reporting that the MOC is ready to take another look given the sky-high figures on the Shanghai Containerized Freight Index. (Pictured: Shanghai port)
- Posted by Joe DeSilvetri
- On February 3, 2021
- 0 Comments