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Logistics Market Update – February 2023 2560 1440 Transmodal

Logistics Market Update – February 2023

Here are some of the top news stories in freight for February: On March 18, 2023, CBP will deploy the Uyghur Forced Labor Prevention Act (UFLPA) Region Alert enhancement to the Automated Commercial Environment (ACE). This enhancement will provide an early notification to importers and their representative of goods that may have been produced in…

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Loaded container ship coming into port with large dock cranes in the background
What is COGSA? 1000 665 Transmodal

What is COGSA?

The Carriage of Goods by Sea Act (COGSA) is a federal legislation in the United States that regulates the rights and liabilities of parties involved in the shipment of goods by sea. It was enacted in 1920 and has since been amended several times. The “Hague Rules” are the name of an international agreement that…

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Docked cargo ship with containers in the background and trucking driving away
What Is General Average? 630 440 Transmodal

What Is General Average?

The concept of general average is a legal theory that dates back centuries and has its roots in maritime law. The notion behind the general average principle is that in the event of unforeseen and extreme occurrences, such as shipwrecks or hurricanes, all of the parties involved in a voyage should share in the losses…

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Uyghur Forced Labor Prevention Act Region Alert 2560 1707 Transmodal

Uyghur Forced Labor Prevention Act Region Alert

On March 18, 2023, CBP will deploy the Uyghur Forced Labor Prevention Act (UFLPA) Region Alert enhancement to the Automated Commercial Environment (ACE). This enhancement will provide an early notification to importers and their representative of goods that may have been produced in the Xinjiang Uyghur Autonomous Region (Xinjiang or XUAR) and may be excluded…

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What are INCO Terms? 2560 1438 Transmodal

What are INCO Terms?

International Commercial Terms, also known as INCO phrases, are a set of standardized terms that are used in international trade to specify the responsibilities of buyers and sellers in a more precise manner. When determining who is liable for the costs of shipping, insurance, and any other expenses connected to the movement of products, these…

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Aerial view of a working dock and cargo ship begin loaded by a crane
Logistics Market Update – January 2023 690 518 Transmodal

Logistics Market Update – January 2023

It’s feels like the pendulum has swung—from boom to bust. The last few years had segments of the industry beside themselves in glee as they raked in huge profits. But the boom is bust, and it’s time to stop swaggering. The party is over for ocean carriers especially, and they’re preparing for things to get…

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Dock cranes and docked cargo ship
Logistics Market Update – December 2022 630 440 Transmodal

Logistics Market Update – December 2022

News from around the global logistics industry: Earlier this month, a brand-new 24,004 teu carrier named the Ever Atop made its maiden voyage. It’s the world’s largest boxship — in terms of capacity — to date and is one of 10 new A24 carriers for Evergreen. It made its maiden voyage less than three-quarters full,…

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Overhead view of dock crane unloading containers from a cargo ship
Logistics Market Update – November 2022 690 518 Transmodal

Logistics Market Update – November 2022

Here’s our November 2022 Logistics Market Update. Earlier this month, an issue of the Global Port Tracker shared that retailers are not feeling optimistic. The prediction is that this month’s containerized imports will drop 9.2% in comparison to November 2021. Further, December imports are expected to drop 9% year-over-year, and this downward trend will continue through…

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Row of trucks against a background of stacked containers
Logistics Market Update – October 2022 690 518 Transmodal

Logistics Market Update – October 2022

Here are some of the top global shipping news stories for October. For the last several years, the norm has been to hear about port congestion on the US West Coast. However, West Coast ports are reporting their second month of decreased congestion. On the flip side, thanks to typhoons in the East, the ports…

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