Category Archives: Transportation Industry News

The Emergence of Third Party Logistics as a Key to a Globalized Supply Chain

As the global transportation industry continues to evolve, Third Party Logistics or 3PL is becoming a global norm, part of the expectations for businesses, who expect door-to-door delivery and total management of their delivery needs at every place in between. At this very moment, intensive market research is underway to study Third Party Logistics, the sudden growth of 3PL and future prospects for thi

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U.S. & China Strategic and Economic Dialogue July 2014

Shipping goods over seas is always a hazardous operation. Due to the enormous amount of freight that travels between the U.S. and China, these two countries continually exchange strategic and economic dialogue in order to make the process safer and more efficient. Recently in the Sixth Meeting of the U.S. – China Strategic and Economic Dialogue (S&ED) in Beijing US Secretary Jacob Lew and Chinese officials discussed a few key strategies to develop The US/China relationship. One major to

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Cargo Theft Increases over Holidays & How Insurance and Risk Management Can Help Mitigate Your Exposures

Holidays like the Fourth of July provide you all with rest from work, a chance to reconnect with family and friends and time for fun. Who would think that holidays also provide thieves with opportunities to steal the cargo that you work so hard to protect? According to a recent report from Property Casualty 360° crooks see the holiday as a time to take advantage of undermanned police, tired and anxious transport workers and other holiday by-p

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FMCSA Asks Congress to Raise Minimum Insurance Requirements for Truckers

FMCSA (Federal Motor Carrier Safety Administration) has a proposed rule to change. They are asking the U.S. Congress to Raise the Minimum Level of Insurance on Trucks.  Here is a brief summary of what is behind the FMCSA Trucker Insurance Requirement proposal sponsored by

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How Maritime Law Impacts Domestic Freight Insurance

Domestic Freight Insurance in a broad sense, covers road, rail, air and sea shipping and is primarily designed to protect the interests of the shipper of goods. The primary coverage is for damage to products while in transit or while in the custody of the carrier. The subject of this article is how courts have interpreted Maritime Law as it relates to Domestic Freight Insurance and the impact that has on I

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Cargo Theft on the Rise in United States, Protect Yourself with Cargo Insurance

According to Business Insurance, the average loss in cargo thefts has increased in the United States. 2014’s first quart

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The Benefits of Big Data on International Freight and Logistics

International freight forwarding has taken a step forward with the introduction of what is claimed to be the first automated online freight network. The network (a product of an Israeli company called Freightos) aspires to become the first Expedia type service for freight forwarders. As the logistics of the $4 trillion dollar freight industry gains efficiency, consumers may benefit with cost reduction in the system. Since 80-90%

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How Mega-Ships Will Affect The Cargo Insurance Industry

It appears that the world’s biggest container shipping lines, Maersk, France’s CMA-CGM and Mediterranean Shipping Co., will get the go ahead to join together and form the P3 Alliance. The U.S. Federal Maritime Commission approved the alliance which means Europe and China will likely follow. With a capacity of 22% above demand, the shippers are looking for ways to compete in a crowded market. After the formation of the P3 alliance, three companies will control 40% of the container loads tr

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The Fall of Old Fashioned Break-ins; the Rise of Cyber Theft

The encouraging news for the transportation industry in 2013 was a reduction in the occurrence of physical break-ins and stolen trucks. However, it was also reported that hacking and cyber theft will be the preferred avenue driving cargo theft for the next decade. Cargo theft by cyber-crime demands less physical effort and is harder to detect, catch and prosecute. In 2013 there were 101 incidents of fictitious pickups accounting for 9% of reported cargo theft. Fictitious pickup can be explain

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Map-21 the $302 Billion Proposed Transportation Funding

The Map-21 Highway Trust Fund money is likely to run out in August. Map 21 expires September 30. Many in the transportation industry note frustrating, inefficient, and costly road congestion due to maintenance needs. At an intermodal station in St. Paul, Minnesota, on February 26, President Obama announced a $302 billion federal transportation funding plan to address these concerns. The new federal transportation funding plan, if passed by Congress, would be partially funded by a one-time tra

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