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July 2024

   
   

Industry News

Cargo Vessel at Sea

Storm Impact on Vessel Arrivals at Cape of Good Hope

Recent storms near the Cape of Good Hope have greatly affected vessel arrivals. CMA CGM reported that their ship, the CMA CGM Benjamin Franklin, lost 44 containers and had 30 more damaged due to severe weather off the South African coast. A.P. Moller - Maersk also faced delays in a ship's arrival at Cape Town because of adverse sailing conditions. These storms disrupted the crucial route used by vessels to avoid attacks by Yemen's Houthi militants in the Red Sea, forcing container ships to take lengthy detours around the continent. Consequently, the number of deep-sea cargo vessels arriving at the Cape of Good Hope plummeted to just 18 in a single day, the lowest since at least October. 

     
Maersk Vessel & Containers

Gemini Alliance Held Up by FMC Probe

The implementation of the Gemini Cooperation Agreement, a strategic alliance between Maersk A/S and Hapag-Lloyd AG, scheduled to start on July 15, 2024, has been delayed by the U.S. Federal Maritime Commission (FMC). The FMC has requested further details to assess potential competitive impacts of the agreement, citing insufficient information in the initial filing. This delay triggers a standard Request for Additional Information (RFAI) process, during which the commission will evaluate whether the agreement could unreasonably reduce competition or increase transportation costs. A new timeline for approval will depend on the parties' response to the FMC's inquiries and subsequent review, pushing potential launch to February 2025.

     
Vessel on the Panama Canal

Panama Canal details new reservoir project

The Panama Canal Authority plans to complete a $1.6 billion reservoir along the Indio River within six years to ensure water security and maintain at least 36 daily transits. The canal, capable of handling 40 transits per day, saw this capacity reduced last year due to severe droughts, necessitating a nearly 2-meter reduction in draft limits for larger neopanamax locks. With the return of rains, conditions have improved, allowing the canal to increase daily transits to 35 slots starting August 5.

     
Port of Charleston

Charleston clears vessel backlog, but expects some delays through November

The South Carolina Ports Authority (SC Ports) has eliminated a recent backlog of container ships but expects some delays as Charleston’s Wando Welch Terminal operates with two berths instead of three through November due to construction. The terminal temporarily reopened all berths, clearing anchored vessels during a 10-day construction pause. Work resumes today, with minimal delays expected until August, when 48-hour delays may occur. SC Ports is coordinating with carriers to avoid disruptions, and the Hugh K. Leatherman Terminal is set to reopen by year-end, potentially restoring full capacity at Charleston.

     
   

Customs Brokerage News

Steel & Aluminum for Export

Forced Labor Enforcement Task Force Adds Aluminum, Polyvinyl Chloride, and Seafood as New High Priority Sectors for Enforcement of Uyghur Forced Labor Prevention Act

On July 9, 2024, the Department of Homeland Security, leading the Forced Labor Enforcement Task Force, released an updated strategy under the Uyghur Forced Labor Prevention Act (UFLPA) to prevent the importation of goods produced with forced labor from China. The new update highlights high-priority sectors such as aluminum, polyvinyl chloride (PVC), and seafood, in addition to previously designated sectors like apparel, cotton, and silica-based products. These commodities have a higher chance of examination by U.S. Customs and Border Protection (CBP), which will require importers to provide proof that their goods are free from forced labor. This effort reinforces the commitment to eradicating forced labor from U.S. supply chains and supporting fair labor practices globally.

     
   
   

Eastern News

E Wagner, C Costa, A Burrati & E Fulgenzi

Enrico Fulgenzi Racing Triumphs
at Hankook 12H Misano

Enrico Fulgenzi Racing, proudly sponsored by Eastern Racing, clinches victory at Hankook 12H Misano, claiming 1st place in the Porsche 992 class and an impressive 3rd place overall. Their outstanding performance earned them the prestigious 'Spirit of the Race' award from radiolemans.com, recognizing their exceptional dedication, sportsmanship, and unwavering determination.

     
Eastern Racing Redesigned Site
Eastern Racing unveils redesigned website

Eastern Racing launched their redesigned website on July 2nd, offering a fresh look and enhanced functionality. The new site features seamless Instagram integration for real-time updates and behind-the-scenes content. A dedicated Media page showcases high-resolution images and video recaps of the team’s cars, races, and events. Visitors can also explore upcoming events, race results, and more. The Gear page introduces the redesigned Eastern Racing hat by Branded Bills, available to supporters who contribute to charities like Ronald McDonald House Charities, Wounded Warriors Project, and Elmhurst Children’s Assistance Foundation. 


"Eastern Racing is committed to continuous improvement and giving back," said Eric Wagner, President of Eastern Racing. "Our redesigned website reflects our dedication to enhancing user experience and supporting charitable initiatives."

     
   
   
   

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