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June 18, 2012 PierPass to Increase Traffic Mitigation Fee August 1, 2012 PierPass Inc. issued a press release on Tuesday, June 12, 2012 announcing that PierPass has decided to increase its Traffic Mitigation Fee (TMF) by 2.5 percent at the Ports of Los Angeles and Long Beach, beginning August 1, as a way to address labor cost increases for this year. According to the press release, “the Traffic Mitigation Fee helps pay for the night and Saturday marine terminal shifts created by the PierPass Off-peak program to relieve daytime congestion in and around the ports. It also provides a financial incentive to move cargo during less congested times.” The TMF will be increased by $1.50 per TEU (twenty-foot equivalent unit), to $61.50 per 20-ft container or $123 per 40-ft container. Current TMF rates are $60 and $120, respectively. The full text of the press release is available online at:
Latin America boosts China exports despite EU slump in demand LATIN America could replace the European Union as China's largest trading partner within five years, say economists after this year's slump in European export demand, down 0.8 per cent in the first five months of 2012 from a healthy 18 per cent in 2011 growth and 34 per cent in 2010. The China export decline to Europe was offset by the intra-Asia, African and Latin American trade growth. Its exports to non-EU, US and Japanese markets surged 17 per cent in May. Of the Latin American countries though to make large increases in growth in consecutive years were Brazil, Colombia and Peru, reports London's Containerisation International. Asia-USWC rates up 12.5pc to $2,658/FEU, east coast up 8.6pc to $3,774/FEU Last week's increase represents roughly half of the Transpacific Stabilization Agreement's proposed $600 per FEU peak season surcharge, slated to commence June 10. The news was not as good on the Europe and Mediterranean-bound trades as rates there continued to soften. Asia-Europe rates last week slid a further 1.9 per cent to $1,634 per TEU, while Asia-Mediterranean rates contracted 1.6 per cent to $1,783 per TEU. Across all trades covered by the index the SCFI rose two per cent to 1,414.72 points.
Proposed Legislation to Modify Current Miscellaneous Tariff Bill Process On June 13, 2012, U.S. Senators Rob Portman and Claire McCaskill introduced into the U.S. Congress, the "Temporary Duty Suspension Act of 2012." The bill will attempt to streamline the process of duty-suspension, currently known as the Miscellaneous Tariff Bill (MTB). In a press release by Senator Portman, he explains that the MTB "requires ... companies to get members of Congress to introduce a bill on their behalf for each item on which they wish to suspend tariffs." The new process would allow companies to submit their proposals to the International Trade Commission (ITC) directly, and retain final approval by Congress. The proposed bill would have three paths for an article to be considered for temporary duty suspension: As of June 15, 2012 this bill is in the U.S. Senate. The press release can be found online at: The full text of the proposed bill is available at:
Tons News, for current and past issues of Tons News by E-mail request from tonsnews@tonslogistics.com or call (310) 338-0337. ________________________________________ Tons News is compiled from a number of public sources that, to the best of Tons knowledge, are true and correct. It is our intent to present only accurate information. However, in the event any information contained herein is erroneous, Tons accepts no liability or responsibility.
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