THE GLOBAL TIE
America's Tie to Global Commerce Since 1952
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THE OFFICIAL NEWSLETTER
November 2017
J.M. RODGERS CO., INC.
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Greetings!
Welcome to the J.M. Rodgers Co., Inc. November newsletter! In this issue of our monthly newsletter you will find up-to-date industry information and upcoming events and insights from our JMR industry experts.
Don't miss our upcoming webinar on the New Duty Drawback Law on Wednesday, December 13th at 4pm EST. For more information and to register see below.
We hope you will sign up to receive this monthly newsletter by clicking on the subscribe link below.
We are proud to provide you with this information and hope you have a wonderful day and a Happy Thanksgiving.
Sincerely,
James Rodgers
CEO
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Market Update
by Andrew Galloway, VP of Sales
1.
Rates on the Transpacific route followed a downward trajectory this week
, USWC prices dropped 5% with rates on the route ex SHA to LAX are 20% weaker than in the same period in 2016. The decline on the USEC (besides Houston TX/Mobile FL/Miami FL) route was more dramatic.
2.
Carriers announced to impose GRIs
from 15 November
but the action seems to have failed and rates are expected to continue to drop towards the end of November. However, carriers have announced to impose GRI starting beginning of December.
3. PIL will launce 2 big vessels from South China and Central China in week 47 and 48. Routing details as follow:
- AC5 service on ETD YTN: Nov 19 – KOTA PANJIANG, Routing: XIAMEN (18 days) -> NANSHA (16 days) -> HONG KONG (15 days) -> YANTIAN (13 days) è LAX.
- ACS service on ETD SHA: Nov 30 - YM UNIFORM, Routing: QINGDAO (17 days) -> SHANGHAI (14 days) -> NINGBO (13 days) è LAX -> OAK (plus 5 more days). This vessel can accept bookings to IPI: Chicago IL / Dallas TX / Kansas City KS, space is open.
4.
SML confirmed they will launch two new services:
- PNW svc, calling port: Shanghai, Ningbo, Kwangyang, Vancouver, Tacoma in March 2018, around 3500 teus vessels, will open to receive IPI via PNW svc like 3C, Chicago etc.
- AWE svc via Panama, Vou Tau, Port Klang or Singapore, Yantian, Shanghai, Ningbo, Kwangyang to New York, Savannah, Charleston. They intend to berth at Maher Terminal. Transit time from Shanghai to New York, only 24 days probably the fastest in the market. 6500 TEUS vessels, start in April 2018.
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Duty Drawback FAQ
by David Verkaik, VP of Drawback Development 10/17
What is Duty Drawback? Are you eligible for drawback refunds?
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The ACE ABI CATAIR
by David Verkaik, VP Drawback Development
Customs and Trade Automated Interface Requirements, Drawback/TFTEA Drawback Entry Summary September 2017
On September 29
th
, 2017, the trade received the 4
th
revision of the ACE CATAIR. This document lays out the requirements that duty drawback claimants will need in order to program their drawback software so that they may file drawback claims electronically according to the statutory language of The Trade Facilitation and Enforcement Act of 2015 (i.e. TFTEA).
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JMR Hosts Duty Drawback Round Table Discussion at Logichem 2017
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On November 14th, the JMR team of experts sponored a round table discussion at the Logichem 2017 Conference in Philadelphia. Attendees gathered to listen to Andrew Galloway, VP of Sales and David Verkaik, VP Drawback Development speak about the upcoming new law for Duty Drawback that goes into affect in February 2018.
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J.M.Rodgers works with Habitat for Humanity
On November 10th, the JM Rodgers Sales team donated their Friday to the Morris Habitat for Humanity. It was our first time visiting this 10 family complex, which is set to be complete by the end of 2018.
Habitat for Humanity is just one of the charities local charities that JMR supports.
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Wednesday, December 13th
4pm - 5pm EST
Join J.M. Rodgers for this complimentary webinar to educate trade professionals on the impact that the new drawback law will have on duty drawback.New legislation regarding duty drawback was signed into law on February 24th, 2016 and will become effective on the same date in 2018.
This comprehensive overview will cover the basics of duty drawback, how the program works, what is your refund potential and more. This presentation is designed for high level Supply Chain Executives, CFO’s and Compliance Directors.
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