Cargo theft is a global challenge with a major negative impact on supply chains and the world’s economy. To put this into context, cargo crime has costed an estimated US$22.6 billion in 2015, while the top five natural disasters costed a collective $33 billion, research has indicated.
The International Union of Marine Insurance (IUMI) issued a revised position paper concerning cargo theft prevention and calls the industry to proceed to actions to mitigate the risks of this matter; IUMI highlights that ‘efforts by law enforcement agencies to increase transnational cooperation to combat cargo theft must be enhanced.’
As CNBC informs cargo is piling up in the Port of Los Angeles, as retailers have been front-loading products in light of the approaching tariffs. Following President Trump’s announcement on new tariffs of 10% on the remaining 300 billion Dollars of goods and products coming from China, the port saw an unprecedented increase of incoming cargo.
The maritime traffic in the Iranian ports is normal and according to schedule, said Mohammad Rastad, Deputy Minister of Roads and Urban development and Managing Director of PMO, while cargo traffic in Iranian ports has been upward in the first four months of this year.
TT Club and BSI Supply Chain Services and Solutions issued the Global Cargo Theft Intelligence and Advisory Report for 2018, highlighting the impact of cargo theft on the global supply chain. This follows an earlier publication for the first half of 2018.
Port of Virginia reported that in May the port handled almost 261,000 TEUs, making May the busiest month in the port’s history. The month’s strong cargo volumes were a follow-up to the best April in the port’s history, when nearly 246,000 TEUs were processed.
Port of Hamburg announced its financial results for Q1 of 2019, noting that it is experiencing an increase, with seaborne cargo throughput increased by 6%, general cargo throughput risen by 5.4% and bulk cargo up by 7.5%. Also, 12 liner services now link the port with 29 ports in the US, Mexico and Canada.
Based on an analysis conducted by the Illinois Soybean Association (ISA), Asian countries, being led by Indonesia are expressing an increased demand on shipping containers to transmit their US soybeans purchases. The soybean marketing year begins on September 1 and ends August 31.
CTD Container-Transport-Dienst, a subsidiary of terminal operator Hamburger Hafen und Logistik AG (HHLA), is alleviating traffic in areas surrounding the Port of Hamburg by conducting more journeys at night. For containers which are being moved between depots and container terminals around Hamburg, the short distances involved often mean transport conducted by trucks.
Hyundai Merchant Marine expects uncertain results over cargo volumes to continues in 2019, because of multiple, global economic factors. The uncertainty is based on the global economic slowdown, Brexit and the US-China trade war. Yet, HMM noted that it will continue its efforts to secure additional cargoes to fill the newly-ordered 20 eco-friendly mega-container ships until delivery, after signing the final contracts for the mega vessels with three shipyards in September 2018. The units are scheduled to start joining the owner from the second quarter of 2020.
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