CLIFF NOTES: Week of September 11, 2019

FHWA Designates $871.2 Million for Disaster Relief Infrastructure Rebuild

On September 10, the FHWA (Federal Highway Administration), a division of the U.S. Department of Transportation, announced that it has allocated $871.2 million “to help repair roads and bridges damaged during natural disasters including hurricanes, wildfires, floods and earthquakes,” according to Elaine Chao, U.S. Transportation Secretary. The funds will help 39 states, four territories (American Samoa, Puerto Rico, the U.S. Virgin Islands and the Northern Mariana Islands) and tribal governments. However, this funding does not cover recent damages that occurred from Hurricane Dorian. To read more, click here.

Panama Canal Tolls Restructure Approved by Cabinet Council

As a result of a recommendation from the Panama Canal Board of Directors, a restructure of Panama Canal tolls has been approved by the Cabinet of the Government of Panama. Modifications are applicable to dry bulk segment, container ship segment, containers on deck, transport of vehicles and RoRo segment, as well as tankers, chemical tankers, LPG and LNG ships. Rates for smaller vessels are expected to go into effect on January 1, 2020, while other segments will go into effect on April 1, 2020 and May 1, 2020. These changes are expected to allow the Panama Canal to provide reliable service for the maritime industry. To read more, click here.

Sales Growth of Natural Products Surpasses Total Food and Beverage Retail Market

The sales growth for natural products has outranked the entire food and beverage retail market, according to SPINS’ inaugural State of the Natural Industry Report. Natural products accounted for 27.4% of industry growth for the year ending May 2019, making up 9.1% of total dollar volume for traditional retailers. The report also stated that 92% of American households had purchased organic products in 2018. To read more, click here.

Statistic of the Week

69.3 Percent

The portion of total freight in millions of short tons traded by water in 2017, according to the Bureau of Transportation Statistics. To view more statistics, click here.

Links of the Week

UPS Announces 2019 Peak Surcharges for Holiday Shipping Season

Target Avoids Raising Prices for Consumers Amidst Tariff Increases

Panama Canal and Port of Rotterdam Sign Memorandum of Understanding for International Trade Deal

China Imports of U.S. Goods Drop 22% Year-Over-Year in August

Upcoming Events

Catch up with the Ascent Global Logistics team at the below upcoming events:  

Branson, MO – September 8-13, 2019

High Point, NC – October 19-23, 2019

International Holiday Calendar

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