Author: Aytac Akgul

MTS Logistics, Top 10 Shipper, Shows That Local Shipping Companies See National Success

MTS Logistics, a New York based shipping and logistics company, was named a Top 10 Shipper by the Port of New Orleans. The Port of New Orleans, the United States’ fourth-largest port by cargo volume, held an awards ceremony to honor the Port’s top 10 shippers and ocean carriers. The Port of New Orleans thanked the honorees for their support over the years, as these companies helped lead the Port’s rise to the fourth-largest place among U.S. shipping ports. MTS Logistics President, Sedat Saka and myself, Aytac Akgul, were invited to New Orleans to attend the 10th Anniversary of...

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New U.S. Export Destinations for Scrap Commodities After China Ban

Buyers of recyclable commodities from the U.S. are now increasingly located in Southeast Asia, India, and other countries, instead of China. The below numbers paint a picture of how this shift is happening, after new regulations on scrap commodities went into effect. The volume of U.S. exports to Malaysia is almost 4 times bigger than previous years, increasing from 9,600 metric tons in 2016 to almost 38,000 a year later, according to figures from the Institute of Scrap Recycling Industries. Malaysia also brought in much higher PE and PET volume, as did other Southeast Asian countries such as Vietnam...

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Maersk Created a Solution for Letter of Credit Complications

To have trade finance is one of the crucial challenges in global trade. Maersk has noticed this challenge in the market, and has created a product that can meet shippers and buyers needs. They are not promoting this in every country, but rather, in countries where there is too many bank transactions and paperwork requirements involved. Maersk Trade Finance combines the flow of goods and finances, supporting the businesses who import and export globally. The banking industry itself is trying to find a solution that can simplify trade finance processes by developing blockchain technology. While these developments are happening,...

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China’s Ban on Certain Scrap Commodities and Its Impact on U.S. Exports/Imports

Many of those in the shipping industry have been following the discussion about China’s announcement of its Import Ban on certain recycling products, to go into effect by the end of 2017. Among the items included on the list are most scrap plastics (“including polymers of ethylene, styrene, vinyl chloride and PET…”) and mixed paper. China already notified the World Trade Organization (WTO) of its intent to ban the import of certain scrap materials. China’s decision will have a crucial impact on U.S. exports into China as the U.S. export market is based on commodity exports. This means the...

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What Should Be the Ideal Currency in the International Shipping Industry?

For years, the worldwide container shipping industry has been in a crisis. Low demand and an overcapacity on the global market have been holding freight rates at a low level. In addition, doing business in U.S. dollars is an industry-specific risk that also scares investors. Over the years, steamship lines worldwide have been struggling with a lasting crisis in the container shipping industry. While the market keeps stagnating, a clear surplus can be seen on the supplier’s side. Freight ships with ever increasing load capacities, and the merging of shipping lines into alliances, have been steadily pushing the container...

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