Friday News Round Up: Global Shipping and Logistics Headlines

The Trifecta: supply chain, an interactive map and…donuts.  (Its National Donut Day, after all)

http://archive.boston.com/yourtown/specials/starbucks_vs_dunkin_donuts/

 

 

Great, quick Reauthorization summary

http://goglobal.dhl-usa.com/blog/shipping/what-the-customs-reauthorization-bill-means-for-u-s-businesses/

 

Drawback times are a-changin’

http://blog.tradewin.net/holy-cow-the-drawback-program-is-actually-and-finally-changing

 

 

Friday News Round Up: Global Shipping and Logistics Headlines

Newly Renamed Trade Advisory Committee Meets in DC

https://www.cbp.gov/newsroom/spotlights/2016-05-05-000000/commissioner-hosts-inaugural-meeting-newly-renamed-trade

 

The Shipping News: A Global Vessel-Sharing Deal is Brokered

 

http://www.wsj.com/articles/asian-european-shipping-lines-form-new-alliance-1463124018

 

Trending: Logistics (Finally!) Takes Center Stage

http://www.supplychainnetwork.com/logistics-is-the-new-black/

 

 

Friday News Round Up: Global Shipping and Logistics Headlines

Amazon’s Rapid Cargo Growth Continues

http://www.marketwatch.com/story/amazon-partners-with-atlas-air-worldwide-for-cargo-services-2016-05-05-101032656

 

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Attention Logistics Geeks – an interactive map of every global shipping route!

http://www.businessinsider.com/kiln-interactive-map-of-global-shipping-2016-4?r=UK&IR=T

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Union Customs Code (UCC) Implemented Beginning May 1, 2016

http://ec.europa.eu/taxation_customs/customs/customs_code/union_customs_code/ucc/index_en.htm

 

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Friday News Round Up: Global Shipping and Logistics Headlines

Norwegian Airline Gets Initial Approval to Expand US Flights

https://www.transportation.gov/briefing-room/us-dot-issues-proposed-order-norwegian-order-international

 

 

Newly Expanded Panama Canal has its first visitor:

https://www.ajot.com/news/china-cosco-shipping-vessel-wins-draw-to-be-first-to-transit-through-the-ex

 

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Coast Guard: No New Container Weight Rules Coming

http://www.wsj.com/articles/coast-guard-no-new-container-weight-rules-coming-1461953237

 

 

 

 

 

Risk Management Includes Export Compliance

All C-level executives are justifiably concerned with risk management. Best practices in export compliance will reduce exposure to steep fines and penalties. Previous posts have described the risks of non compliance with Export Administration regulations. Here is some information from the BIS (Bureau of Industry and Security) website showing details. For help with export compliance contact mitch@52.91.45.227

Penalties

Violations of the Export Administration Act of 1979, as amended (EAA), 50 U.S.C. app. §§ 2401-2420 (2000), and the Export Administration Regulations, 15 C.F.R. Parts 730-774 (2007) (EAR) may be subject to both criminal and administrative penalties. When the EAA is in effect, criminal penalties can reach 20 years imprisonment and $1 million per violation. Administrative monetary penalties can reach $11,000 per violation, and $120,000 per violation in cases involving items controlled for national security reasons. When the EAA is in lapse, the criminal and administrative penalties are set forth in the International Emergency Economic Powers Act (IEEPA).

On October 16, 2007, President Bush signed into law the International Emergency Economic Powers (IEEPA) Enhancement Act, Public Law No. 110-96, amending IEEPA section 206. The Act enhances criminal and administrative penalties that can be imposed under IEEPA and also amends IEEPA to clarify that civil penalties may be assessed for certain unlawful acts. Criminal penalties can reach $1,000,000 and 20 years imprisonment per violation and the administrative penalties can reach the greater of $250,000 per violation or twice the amount of the transaction that is the basis of the violation. See Endnote below.

Violators may also be subject to denial of their export privileges. A denial of export privileges prohibits a person from participating in any way in any transaction subject to the EAR. Furthermore, it is unlawful for other businesses and individuals to participate in any way in an export transaction subject to the EAR with a denied person.

International Logistics Consulting; Licensed Customs Brokers