Topic of the Week (8/19/22):
Do you know the difference between MARAD and FMC? Yes, they are DEFINITELY different agencies. Both maritime, vastly different.
The Maritime Professorᵀᴹ presents By Land and By Sea - an attorney breaking down the week in supply chain
with Lauren Beagen (Founder of The Maritime Professorᵀᴹ and Squall Strategies)
Let's dive in...
. . .
But first, my...
TOP 3 STORIES OF THE WEEK -
1 - Ocean freight rates have been on a steady decline since just after the beginning of 2022 – but does a decline from an astronomical high really count? Timothy Dooner talks about it in his #WTT Newsletter. Drewry is seeing the same thing.
https://www.freightwaves.com/news/will-ocean-rates-sink-below-4k
2- The Federal Maritime Commission's Request for Information (Emergency Order) is already receiving comments! Notably, the Association of Bi-State Motor Carriers is strongly in favor of the FMC issuing an emergency order, and so is most everyone else commenting on the docket. Have a look:
https://www2.fmc.gov/readingroom/proceeding/22-19/
3- Greg Miller is reporting that imports are still up 3% year over year and up 15% from pre-pandemic levels! Even despite huge cancellations from major importers. That's a lot of cargo!
https://www.freightwaves.com/news/turning-point-port-of-la-boss-sees-imports-easing-lower-in-august
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** As always the guidance here is general and for educational purposes only, it should not be construed to be legal advice and there is no attorney-client privilege created by this video. If you need an attorney, contact an attorney. **
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