Container shipping rates have doubled since February in some key lanes and continue to rise — but remain well below the peak reached during the pandemic. Rising rates are leading to frustration among importers and raising concerns about a cost bubble. The main reason for the increase is, not surprisingly, the continued closure of the Suez Canal due to attacks by Yemeni rebels, forcing ships to take a longer route around Africa which is creating a need for more ships...

Ocean shipping rates are surging, and the current trend indicates record profits for shipping companies in the third quarter of 2024. Industry benchmarks show a substantial increase compared to pre-pandemic levels, though they haven’t quite reached the all-time highs observed in September 2021. The trend is mostly driven by ongoing disruptions in the global supply chain—high demand for goods, ongoing port congestion, geopolitical tensions, and labor shortages—which are causing a shortage of containers and an imbalance in demand for...

The Department of Commerce’s preliminary determination in the antidumping duty investigation (ADD) investigations on aluminum extrusions from 14 countries was published on May 7, 2024.  The scope of the investigation covers a broad array of products containing aluminum extrusions, including specific articles, components, subassemblies, and numerous downstream products.  The scope also contains several exclusions from the investigation that are defined by technical parameters.  Further, the scope contains a specific list of covered products if produced in China. In short,...

On September 19, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) announced additional items considered significant to Russian weaponry and are now restricted for export to both Russia and Belarus. In coordination with the United Kingdom and European Union, BIS continues to identify “high-priority items” by their six-digit Harmonized System (HS) codes that Russia seeks to procure for its weapons programs. Items described by these HS codes have been found in multiple Russian weapons systems used against Ukraine. In the September 2023 notice, BIS...

The U.S. Department of Homeland Security (DHS) has today, 9/26/2023, added three more entities to those designated under the UFLPA, bringing the total number of designated entities to 27. As per the DHS announcement, the newly added entities are: Xinjiang Zhongtai Group Co. Ltd. (headquartered in Xinjiang and produces and sells polyvinyl chloride (PVC), iconic membrane caustic soda, industrial salt, calcium carbide, viscose fiber, viscose yarn, and other textile, chemical, and building materials). Xinjiang Tianshan Wool Textile Co. Ltd. (headquartered...

The U.S. government is turning up the dial on its efforts to combat evasion of export controls and sanctions against Russia. The severe trade restrictions against Russia (and Belarus) have seen continuous escalation since February 2022. In the latest round of measures, multiple U.S. government agencies took aim at companies that enable the circumvention of trade controls, with an increased focus on evasion tactics in third countries and by non-restricted entities that operate as fronts for sanctioned parties.Anti–money laundering...