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Ocean Carrier Trends: Containing capacity while remaining poised for growth
Coinciding with the upswing in the world economy two years ago, global seaborne trade is doing well, note analysts for the Geneva-based United Nations Conference on Trade and Development (UNCTAD). They also observe that containerized shipping expanded by 4% in 2018—the fastest growth in five years. “Global maritime commerce gathered momentum two years ago and raised…
US Company Settles Whistleblower Lawsuit, Pays for Importer’s Customs Fraud
Prosecution a Warning to US Companies That Source Goods From AbroadWritten by Mark Strauss Federal prosecutors in New York recently announced the settlement of a remarkable lawsuit relating to a scheme to evade import duties. The case involved an importer’s undervaluation of apparel to pay fewer duties than were really owed. The settlement that prosecutors reached,…
How Stockouts Can Hurt Your Business (And How to Prevent Them)
A customer walks into their local grocer looking for their favorite kombucha brand, only to find that it’s out of stock. Frustrated, this patron considers her options: choose another brand, choose another store, choose to postpone the purchase or choose not to buy the drink at all. None of these scenarios are favorable to the…
De-dollarization in Supply Chain: Adapting to the Multipolar Financial World
The role of the US dollar as the global reserve currency has been the bedrock of international trade and financial transactions for decades. However, there are growing indications from major economic and political powers of a shift towards a multipolar financial world that could reduce the dollar’s dominance. This shift towards a more diverse financial…
Export Compliance Checklist – 5 Questions to Help You Get Started
Why Exporting your product is a good idea Expanding your bottom line and selling to customers abroad is likely part of your business strategy or on your roadmap. It is no wonder why, according to a study by the Institute for International Economics, U.S. companies that export not only grow faster, but are nearly 8.5…
And This Year’s Award Goes To . . .
There are all kinds of annual awards: Razzies for bad films, Golden Mullets for the worst video game and the Turnip Prize for lousy art. That got me to thinking. Maybe another one’s in order, to celebrate the most embarrassing export control penalty of the year. Let’s call it the Dummies. My nomination will be hard…