Third-party logistics provider the Rhenus Group has acquired a 40 percent shareholding in ocean vessel owner and manager ARKON Shipping GmbH & Co., according to a joint statement from the companies.
The sanctions, pursuant to the Iran, North Korea, and Syria Nonproliferation Act, will remain in place for two years.
U.S. District Court Judge Katherine Forrest found the parcel giant and third-party logistics provider violated state law by transporting hundreds of thousands of cartons of untaxed cigarettes into New York City from lower-tax areas.
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Tom Cook, managing director of Blue Tiger International, discussed the negative effects of risk exposure in the global supply chain and how to manage those risks.
The World Shipping Council has warned of unintended consequences that would be detrimental to shippers if a rule was adopted that would limit situations in which detention and demurrage may be collected.
While air cargo is still in a fragile state, no matter what happens to the health of the industry, new regulations and challenges will abound in 2017, said Jon Ross, a former American Shipper editor who is an expert on the air cargo industry.