Author: Aytac Akgul

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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After Forming the Alliances, the Global Container Shipping Industry Decreased to 3 Carrier Options

An unsteady year in the container-shipping industry, which included one big operator going under, and others bundling together to stay afloat, ended with three major alliances arranged to dominate ocean trade for years to come. Overcapacity and weak global trade forced the largest players to merge or form alliances, allowing them to cut operating costs by hundreds of millions of dollars by sharing ships and port calls. The three major groupings, called 2M, Ocean Alliance and THE Alliance, have cleared most regulatory hurdles over the past two years. Customers should know that there are no longer are over 15 carrier...

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Importance of Logistics for Valentine’s Day

Valentine’s Day is a holiday dedicated to the expression of love. This year, billions of Americans will celebrate by purchasing flowers, cards, candy and other gifts.  Though they may have suffered over the perfect way to express their feelings, many have not considered the essential role the transportation industry plays in the execution of their special day. With millions of flowers bought by consumers every Valentine’s Day, there is little doubt that colorful, fragrant blooms are a hallmark of the holiday. Before anyone can say, “Be mine,” with a dozen flowers, months of detailed logistics go into the planning...

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