• Many of the rate hikes represent almost a 100% increase in shipping rates
  • The special permission is not only to increase the rates and charges, but these increases are effective immediately as they also waive the FMC’s required 30-day notice period for increasing rates
  • Absent significant military or diplomatic action, our expectation is that these circumstances will not disappear quickly

The Federal Maritime Commission (FMC) has granted special permission to ocean carriers to immediately increase the rates on containers that are being rerouted around the Cape of Good Hope in Africa or are retaining feeder vessels for pickup of cargo at high-risk ports in the Red Sea due to increased hostilities. Since mid-November 2023, Houthi rebels based in Yemen have attacked Red Sea shipping bound for Israel or linked to Israeli ports. Reported security incidents have ranged from outright attacks, approaches, and business interruptions to mere sightings.

Executive Order Imposes New Russia Sanctions for Foreign Financial Institutions and Prohibits Additional Russian Imports

On December 22, 2023, President Biden issued Executive Order 14114, which amended previous Executive Orders in order to authorize the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) to impose additional Russia-related sanctions on foreign financial institutions and…

On December 29, 2023, the U.S. Glass Producers Coalition (“GPC” or “Petitioner”) filed a petition for the imposition of antidumping duties on imports of certain glass wine bottles from the People’s Republic of China, the United Mexican States, and Chile as well as the imposition of countervailing duties on imports of certain glass wine bottles…

Washington D.C., USA - March 1, 2020: Sign of U.S. Customs and Border Protection on the building in Washington D.C., USA, the largest federal law enforcement agency.

A recent ruling analyzed whether certain functions performed in preparation for filing an entry with U.S. Customs and Border Protection (“CBP”) arise to the level of “Customs Business” that must be performed by a licensed broker. Ruling HQ H326926, issued to Heizwerthy Customs & Freight Solutions (“Heizwerthy”), states that allowing an unlicensed company to extract…

On December 26, 2023, the United States Trade Representative (“USTR”) announced that it will further extend 352 reinstated exclusions and 77 COVID-related exclusions to duties imposed on goods from China pursuant to Section 301 of the Trade Act of 1974 until May 31, 2024.  USTR imposed Section 301 duties in four tranches or “lists,” and…

On December 8, 2023, Senators Bill Cassidy and Sheldon Whitehouse introduced a new version of the Customs Modernization bill to amend the Tariff Act of 1930. The new proposal comes over two years after Senator Cassidy initially proposed draft legislation, which we explained in a prior post. The most recent proposed bill aims to…