The aircraft industry suffers a huge blow due to COVID-19 and pandemic-related restrictions. Currently, it has to recover from the effects of a ninety-five percent drop in air traffic. Boeing has announced that it formed a new group to help to restore the company’s production and supply chain operations to a pre-pandemic level. Boeing amid …
Customs bond is an agreement relating to a specific transaction between an importer and a customs office. Under U. S. customs regulations, customs bond is a requirement for export to the U.S. A customs bond is a financial guarantee between the guaranteeing company that submits the declaration, the importer, and Customs Border Protection (CBP). The …
The pandemic has brought significant changes in the global shipping industry. The Federal Maritime Commission (FMC) decides to deal with problems and announced that they would create a supply chain innovation team. This will help with the ocean shipping challenges related to the COVID-19 outbreak. What is The Federal Maritime Commission? FMC is an independent …
On March 28, 2020, the first intercontinental train was dispatched from St. Petersburg port to Asia. The cargo will reach the ports in South Korea and Japan within 23 to 32 days, saving up to 34 days in comparison with a traditional ocean route. This is the first eastbound transcontinental train and a strong competitor …
It turns out that the air cargo market has enormous potential. This is primarily due to reduced travel costs in many markets and an increase in the middle class in emerging markets. For this reason, along with the increase in passenger traffic, the global medium-term forecasts of ACI (Airports Council International) also predict an increase …
Undoubtedly, the United Arab Emirates’s largest European trading partner is Germany, which accounts for almost 22 percent of all trade between Germany and the rest of the Arab world. The main export products of the UAE include oil and refined oil, gas from oil, diamonds, and gold. Apart from oil ports, the UAE also has …
It seems like 2020 is already a year of challenges for the TSL industry, especially for carriers and shippers. They have to face many difficulties, such as the new IMO Low Sulphur Regulation and the effects of the Coronavirus outbreak. The competition on the market gets only fiercer. What is the forecast for maritime transport? …
The HMM Algeciras ultra-large containership is the first of a series of ships ordered by the Hyundai Merchant Marine (HMM), a South Korean shipping company. The reception of the vessel from the Daewoo Shipbuilding & Marine Engineering shipyard is planned for summer 2020. The capacity of the ship is 23,964 TEU, which will make it …
It turns out that not all products can be imported from China. This is due to the different criteria for the transport of dangerous goods. Due to differences between the laws in force in different parts of the world, some goods are not allowed for international transport. Dangerous goods According to international regulations, the transport …
The coronavirus, which has prevailed in China since the end of January 2020, is increasingly stigmatizing the Chinese and global economy. The whole world is living on reports of the spread of the epidemic and is predicting the effects on the economy. Over the past month, the Chinese economy has frozen. It disappeared with its …