Drewry research conducted on behalf of software provider CargoSphere found that forwarders spend about $500 million a year on ocean freight rate acquisition and management.
American Shipper’s sister publication, the Adam Smith Project, wrote Monday about the dangers of recalibrating trade statistics to suit policy initiatives.
Chief Executive Officer Ted Fick resigned earlier this month amid a Washington State Auditor's Office investigation into an alleged $4.8 million in potentially illegal payouts to port employees.
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The new president immediately put the world on notice that his administration will combat unfair trade practices, which many interpret as a return to protectionism.
Jakob Stausholm, chief financial officer at Maersk Line, said the Danish ocean carrier's gains in market share, utilization, and lower unit costs have been overshadowed by very low freight rates.
Taneli Ruda, head of ONESOURCE Global Trade, said the election of Donald Trump won’t cause trade liberalization to grind to a halt across the world, but it should cause those who run multinational corporations to carefully contemplate its implications.