The November 2016 Logistics Link contains industry news and recent MIQ Logistics updates.
News / Logistics Insights
As part of a recent video series, Paul Fitzpatrick, Managing Director of Global Trade Management, discusses key point regarding the “Trade Facilitation and Trade Enforcement Act of 2015.”
Back in December 9, 2015 Congress reached a final agreement on H.R. 644, the “Trade Facilitation and Trade Enforcement Act of 2015.” The bipartisan, bicameral trade legislation was created to authorize U.S. Customs and Border Protection to put in place effective tools to: (a) strengthen trade enforcement at the border; and, (b) facilitate the efficient movement of legitimate trade and travel. The Bill went to the President for signature, was signed, and a statement was released by The White House Press Secretary on February 24, 2016.
Paul Fitzpatrick, MIQ Managing Director of Global Trade Management, recently presented on the Trans-Pacific Partnership and other trade agreements.
The TPP is a trade agreement among 12 Pacific Rim countries signed on February 4, 2016 in Auckland, New Zealand after 7 years of negotiations. The TPP will create the world’s largest free-trade zone. The countries within its scope account for 40% of the world’s economic output. The Agreement will not enter into force until ratified by the respective governments.
MIQ Updates
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SOLAS
The International Maritime Organization (IMO) amended the Safety of Life at Sea (SOLAS) Convention to require shippers to provide the Verified Gross Mass (“VGM”) of containers carrying cargo before those containers can be loaded aboard a vessel. Without a VGM, the amendments also prohibit the vessel operator from loading a packed container. The SOLAS amendments are effective July 1, 2016; are not expected to be postponed; and, are globally binding – all Countries party to the convention have undertaken to implement amendments. There is no exception to this requirement. If the acceptable VGM documentation is not timely provided by the shipper, that container will not be loaded on board the vessel. As your NVOCC or Freight Forwarder, MIQ will require from your or your supplier the following data: