Happy Thanksgiving From Ascent Global Logistics!
Our team wishes you a safe and relaxing holiday weekend! Please note that all Ascent Global Logistics locations will be closed on Thursday, November 22 in observance of the Thanksgiving Holiday. Hours on Wednesday, November 21 and Friday, November 23 will vary by location. If you have specific questions regarding Thanksgiving Holiday hours, please contact your local Ascent Global Logistics team.
Domestic Freight Management
Capacity Shrinks Due To Lower Supply
According to Freighwaves’ Sonar Chart of the week, tender rejection rates have increased 13 percent since the end of October. This suggests that carriers could be rejecting loads due to decreased capacity during the 2018 Holiday Season. See more here.
National Spot Rates Change Ahead Of Thanksgiving Holiday
In the most recent DAT Trendline report, reefer rates continue to increase ahead of the Thanksgiving holiday. The national average reefer rate increased by 4 cents and the reefer load-to-truck ratio increased by 4 percent. See more here.
International Freight Forwarding
DYK: Ascent Global Logistics Offers A Comprehensive Order Management Solution For Importers
Recently, the team at Ascent Global Logistics released a video highlighting our Order Management solution for importers. With the power of our technology and our people, we can assist you with all your Order Management needs. See the full video here.
No Grace Period For List 3 Increased Tariffs
CBP has confirmed that there will be no grace period for List 3 tariffs that will increase from 10 percent to 25 percent on January 1, 2019. If the vessel arrives at the port and is manifested to customs on January 1, 2019 or later, any items subject to List 3 trade tariffs will increase in duty from 10 percent to 25 percent. This will be assessed in addition to the normal duty rate and ADCVD duty rate.
If you have any questions, please contact the Ascent Global Logistics Trade Compliance team.
Port Of Los Angeles Sees Record Volume In October 2018
In October 2018, the Port of Lost Angeles processed the most cargo in a single month in its 111 year history. The Port of Los Angeles processed 952,554 Twenty-Foot Equivalent Units (TEUs), which was a year-over-year increase of 27.2 percent compared to October 2017. See more here.
Walmart Continues To Perform Well According To Q3 2018 Numbers
In Q3 of 2018, Walmart showed a 43 percent increase in ecommerce sales, which helped it increase overall company sales by 3.4 percent. Walmart expects 40 percent of its total sales for 2018 to result from ecommerce transactions. See more here.
How Retailers Can Ensure Supply Chain Sustainability
In an editorial from Supply Chain 24/7 magazine, retailers and consumer goods manufactures should be especially careful that they utilize sustainable practices in improving their supply chains. Factors such as changing consumer demand are contributing to a focus on sustainability. See more here.
Statistic of the Week
The number of shoppers expected to shop between Thanksgiving and Cyber Monday in 2018, according to the National Retail Federation. Click here to access more stats.
Links of the Week
Catch up with the Ascent Global Logistics team at the below upcoming events:
PPAI EXPO 2019
Las Vegas, NV – January 13-17, 2019
TPM ANNUAL CONFERENCE
Long Beach, CA – March 3-6, 2019