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Forwarders are struggling to maintain profitability as freight rates on some major container routes continue their dive, according to the Journal of Commerce (joc.com). Profit margins, typically tight, especially in Asia-Europe trade, are being hit by new record lows for spot prices. Rates are changing daily, and there is heavy quoting and bargaining that is eating up forwarders’ time as they try to keep and win business. Almost 80% of companies are experiencing higher price pressure this year than last, a study by Simon-Kucher & Partners found. Almost two thirds of survey respondents said they are suffering from price wars. […]
In observance of Independence Day, our offices will close at 3:00PM on Thursday, July 2nd and will remain closed on Friday, July 3rd. We will re-open on Monday, July 6th at 8:30AM. From all your friends at Roanoke, we wish you a safe and memorable holiday weekend!
On Monday, June 29th FreightWatch International released the following report as a guide for how to prepare for this holiday weekend: Description: Holiday weekends are notorious for showing increased cargo theft risks for transportation companies, shippers, and manufacturers. Organized theft rings are active and understand holiday weekends cause shipments to be unattended for extended periods of time. Thefts occurring over Independence Day weekends between 2010 and 2014 had an average value of $145,267, including eight separate incidents with a declared value over $250,000. Recommendation: FreightWatch International recommends that logistics and security professionals ensure security protocols are up to date and in line […]
An additional insured clause is attached to a third-party liability policy for the purpose of extending the coverage provided by that policy to the party named in the clause. An additional insured clause is commonly requested along with evidence of various types of insurance in conjunction with a contract or agreement. For example, Party A leases office space from Party B. Party B requests that an additional insured clause be attached to Party A’s commercial general liability policy in favor of Party B. An individual slips in the building, breaks an ankle, and subsequently files a claim against both Party […]
Increasingly more of your customers are asking – or insisting – that you sign a hold-harmless agreement in order to maintain a business relationship. While it might be necessary in order to get or keep a client, be aware that you assume someone else’s liability when you sign. Don’t be mistaken, this has an impact on your business. A Sample Hold Harmless Agreement: To the fullest extent permitted by law, the vendor agrees to defend, indemnify, and hold harmless the entity, its elected and appointed officials, employees and volunteers and others working on behalf of the entity against any and […]
Various representatives from the surety and customs broker community held a conference call with U.S. Customs and Border Protection on June 5, 2015, to discuss ongoing matters related to ISF. On that call we learned that CBP has delayed the planned May 14 implementation of full enforcement and continues to operate under the “three strikes” procedures. CBP headquarters staff continues to review the “full enforcement” procedures and CBP will formally announce when this phase begins by issuing a CSMS notice. Should you have any questions on the above, we invite you to contact your Roanoke Trade Bond Representative, call us […]
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