Author: Emre Reyhan

Trade Deficit Between China and India Continues to Grow

Demand for a specific country’s exports can have large impacts to the value of its currency, economic growth, and stability. A more specific example can be found in India, where the cost of this country’s imports is exceeding the value of its exports with China, a scenario also known as a trade deficit. According to data collected by the General Administration of Customs, in 2016, India-China bilateral trade amounted to a total of $70.8 billion, and was registered as a 2.1% decline in Indian exports from its previous financial year. Economists fear India may be living beyond its means...

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Drone Aircrafts To Become The Next Mode Of Delivery

As technology continues to evolve, companies look for new ways to deliver consumer goods to their customers at record delivery times. Companies such as Amazon, Google and UPS have developed autonomous delivery drones to fulfill a customer’s online orders in minutes. It was not too long ago when Amazon CEO Jeff Bezos announced that Amazon would be using octocopter drones to deliver items directly to the customer’s doorstep in thirty minutes or less, in a taping of CBS’ “60 Minutes.” Since then, the company has announced its Amazon “Prime Air” program, a delivery system which does just that. Many...

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Hanjin’s Long Beach Terminal Sale Approved by Judge in U.S. Bankruptcy Court

South Korea’s largest shipping operator, Hanjin Shipping Company, filed for bankruptcy this past summer, due to a downturn in the shipping container industry resulting in Hanjin Shipping’s financial collapse. Hanjin filed for bankruptcy at the U.S. Bankruptcy court in Newark, NJ, allowing their vessels to dock in their U.S. ports without having their cargo, equipment and ships confiscated by Hanjin’s creditors after having troubles docking their ships in ports around the world. Hanjin’s terminal in the port of Long Beach was owned and operated by Total Terminals International, a company in which Hanjin held majority ownership. Judge Sherwood of...

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Contract Negotiations in Shipping

The container shipping industry is an almost ‘perfect competition’ market, and there are very limited opportunities to earn a premium over the market rates by providing a superior product. Therefore, adjusting the freight rates according to market conditions is crucial for ocean carriers in order to stay profitable and expand their market shares at the same time. However, like most of the competitive industries, reduced rates are also possible in the shipping industry in return for an undertaking to provide a larger volume of business, and carriers control this balance between the volume and rates by signing yearly contracts...

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FDA’s New Rules on Food Transportation

FDA is at it again. A slew of new food safety rules as required by the Food Safety Modernization Act of 2011 moving from regulatory menu to the plates of U.S. shippers, loaders, truckers, third party logistics providers, carriers as well as receivers involved in food transportation. The yearly cost to implement the rule is projected to be between $113 million and $117 million. Last week, FDA published the final rule on sanitary transportation of food for consumption by human and animals in the Federal Register which goes into effect on June 6th. For this ruling, FDA defines businesses...

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