Americas
Canada
Vancouver (BC) This week, members of the International Longshore and Warehouse Union (ILWU) Canada are anticipated to cast their votes on a tentative contract agreement after the terms of the deal have been approved by a union caucus. We are staying close to this so please reach out to your CargoTrans solutions sales or account handler for more details.
Panama Canal
Multiple carriers have announced a Panama Canal Surcharge to go into effect in August in response to the ongoing draft limitations brought on by continuing drought conditions in the region. The market has not accepted this surcharge nor do we anticipate this taking effect this month.
Europe → North America
Market normalization to pre-pandemic rate and service levels
Indian Subcontinent → North America
July blank sailings create environment for acceptance of August GRIs. While carriers may attempt a mid-August GRI we don’t expect any further GRI’s to stick until September.
Need Help Navigating the Current Freight Market? Contact our Procurement Team
Importing into Canada? Are you registered for CARM?
Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) project is a multi-year initiative that will transform the collection of duties and taxes for goods imported into Canada.
CARM Timeframe: October 2023
Benefits
CARM will:
• Simplify the overall importing process
• Provide a modern interface for importing into Canada
• Give importers self-service access to their information
• Reduce the cost of importing into Canada
• Improve consistency of compliance with trade rules
Functionalities of the CARM Client Portal will include:
• Electronic commercial accounting declarations with ability for corrections and adjustments
• New requirements related to the Release Prior to Payment (RPP) program
• Harmonized billing cycles
Need Help Navigating this Change? Contact our Customs Team
In Other News…
- New tentative deal reached in B.C. port strike – The International Longshore and Warehouse Union Canada and B.C. Maritime Employers Association issued a joint statement late Sunday saying a deal has been reached with help from the Canada Industrial Relations Board.
– Read More -
UPS, union avert strike with planned 5-year deal, more pay – UPS (UPS.N) and its Teamsters union have signed a tentative contract deal for about 340,000 U.S. workers at the parcel delivery firm, one week ahead of a threatened strike that could have cost the economy billions and disrupted a quarter of the nation’s package shipments.
– Read More -
Teamsters blast bankruptcy-bound Yellow, cite $700 million Covid loan firm got from Trump White House – Bankruptcy-bound trucking firm Yellow received a whopping $700 million in Covid pandemic relief loans three years ago after Trump administration officials pushed for it despite objections from the Defense Department. The Teamsters Union, which represents Yellow workers, blasted the freight carrier in a statement Sunday and highlighted the Covid loans.
– Read More -
Air India capacity boost may include freighters as export drive accelerates – Tata Group’s revamped Air India is looking at a three-fold increase in cargo handling capacity over the next five years.
– Read More
Questions? All you have to do is contact us.
