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Live from 2010 TPM (Trans-Pacific Maritime Conference) – March 1, 2010

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Live from 2010 TPM (Trans-Pacific Maritime Conference) - March 1, 2010

So I wish I could have posted earlier, but I just managed to find some quiet time to sit down to put this together. The crowd this year is considerably larger than last year's and when a panel or session ends it becomes almost impossible to get anything done due to all the handshaking and [...]

Additional GRI scheduled – Transpacific Westbound to Asia

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Additional GRI scheduled - Transpacific Westbound to Asia

Anyone else having a hard time trying to stay on top of all of the recent GRI's? The Westbound Transpacific Stabilization Agreement (WTSA) carriers have announced an additional general rate increase for all cargo from the U.S. to Asia.  This latest GRI is scheduled to go into effect on December 1.   Keep in mind that [...]

Trans-Pacific Westbound Bunker Charges to Increase

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Trans-Pacific Westbound Bunker Charges to Increase

The carriers comprising the WTSA have announced an increase to the bunker charges for ocean freight effective October 1st. See the following link for details: http://www.wtsacarriers.org/adjustments.html

Report from 2009 Trans-Pacific Maritime Conference (TPM): Ron Widdows speech

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Report from 2009 Trans-Pacific Maritime Conference (TPM): Ron Widdows speech

On Monday, March 2, Ron Widdows, President and CEO of NOL Group, parent of APL, gave the keynote speech at the 9th annual Trans-Pacific Maritime Conference. His comments on the global economic slowdown were anything but rosy. In his speech, Mr. Widdows painted a rather grim picture of the future - IF the responses by [...]

Cathay Pacific to ground freighters

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Cathay Pacific to ground freighters

Old news, but unfortunately I am just reading it now. Here it is via eyefortransport for anyone who hasn't seen it yet: With Cathay Pacific's airfreight business being seriously impacted by the global financial crisis and several of the world's major economies heading into recession, in January 2009 the airline will park two Boeing 747-400BCF [...]

Trans-Pacific Eastbound ocean rates on the decline

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Trans-Pacific Eastbound ocean rates on the decline

Get ready to pay less for that container of goods your are importing from China. Due to a rapidly weakening ocean market, many steamship lines are reducing ocean rates from China to the West Coast. Seems just like yesterday that the carriers were pushing for substantial increases in the GRI and fluctuating BAF surcharges. Now [...]

China to dominate aircraft demand in Asia-Pacific for years to come

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China to dominate aircraft demand in Asia-Pacific for years to come

According to Boeing: Altogether, the Chicago manufacturer expects the Asian country to purchase 3,710 planes before 2028. By then, China's passenger and cargo growth is likely to triple the country's total fleet number to 4,650 airplanes, about as many planes as there are in Europe today. "China will continue to be the fastest-growing aviation center [...]

TSA (Transpacific Stabilization Agreement) warns of capacity restrictions in 2009

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TSA (Transpacific Stabilization Agreement) warns of capacity restrictions in 2009

For those of you who don't know, the TSA is a group of carriers who discuss market conditions and guidelines for the container line industry. Last week they painted a grim picture of container lines profits in the slowing economy amid higher fuel costs and a highly competitive market. Not much of a surprise, but [...]

California ports’ risk losing dominance in Trans-Pacific trade

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California ports' risk losing dominance in Trans-Pacific trade

A theme we've been echoing for quite some time here at 3plwire.com, this month's issue of World Trade Magazine breaks things down nice and easy in a single article. The major box ports along the U.S. West Coast have encountered increased competition from seaports along the East Coast in the past few years, but because [...]

U.S. begins negotiations to join the Trans-Pacific Strategic Economic Partnership Agreement

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U.S. begins negotiations to join the Trans-Pacific Strategic Economic Partnership Agreement

"Negotiating to join" isn't the same thing as joining, but it's the first step in what could be a long journey to eventually joining or not. Here is Trade Representative Susan Schwab's statement: “Today, I want to discuss the United States’ participation in the Trans-Pacific Partnership Agreement, and our long-term vision for regional, plurilateral and [...]

Cathay Pacific expands freighter network in the U.S.

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Cathay Pacific expands freighter network in the U.S.

It wasn't too many years ago that it was difficult to get upper deck capacity to and from regions east of, well, California. But as China volumes - both ways - have surged carriers have been meeting the demand by routing freighters through other central and eastern markets. Cathay Pacific is greatly expanding its freighter [...]

Incoterms: CIF – Cost, Insurance and Freight

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Incoterms: CIF - Cost, Insurance and Freight

CIF CIF "Cost, Insurance and Freight" is a very commonly used incoterm. This is another incoterm that officially is not supposed to be used for air shipments, but I have seen its usage in both air and ocean shipments. Officially CIF is only to be used for ocean or inland waterway transport. CIF is basically [...]