Freight Market Update | Week 19
FAQ: What is the Difference Between a TIB and Moving Goods In-bond?
Although these two terminologies appear similar at first glance, they actually differ in meaningful ways and serve very different purposes. TIB A Temporary Importation under Bond, or TIB, is used to bring goods into U.S. commerce without payment of duty when they are not intended for [...]
As U.S. Imports Continue to Surge, is the Export Market Getting the Short End of the Stick?
Earlier this year, U.S. agriculture exporters initiated a political campaign against ocean carriers for unfair discrimination. The fight was led by the Agriculture Transportation Coalition who argued that carriers were refusing or canceling exporter bookings and instead prioritizing repositioning empty containers back to Asia. Although this effort did result in [...]
FAQ: What is a Revenue Ton?
A revenue ton is a unit measure used in marine transport, on which a shipment is freighted. Cargo is rated as weight or measure (W/M) depending on the commodity. Weights are based on metric tons and 1 metric ton = 1,000 Kilograms (2,205 lbs.) Measures are [...]
Disruptions at the Port of Montreal Continue to affect North American Supply Chains
Over the weekend, Montreal port employers stated that they would not pay full salaries to longshore workers, in response to the 11% drop in tonnage processed last month, as shippers have continued to divert their cargo away from Canada’s second-largest port. Meanwhile, other North American ports have been handling double-digit [...]