GHY Tradelines

A new Conference Board of Canada study, released last week by the International Trade and Investment Centre challenges the conventional wisdom about Canada’s trade profile. Canada is less trade-dependent than previously thought, has a smaller trade relationship with the United States than commonly believed, and relies on the services sector for a much larger share of its trade. Read more here.
 

(CIFFA eBulletin)

Please join expert legal and insurance panelists, colleagues and Directors from CIFFA’s National Board in an engaging morning discussion focused on some current issues facing freight forwarders, importers and exporters.

In the panel discussion  ”If Everything is Coming Your Way, You’re Probably in the Wrong Lane”  Canada’s leading transportation legal and insurance experts share their take on risk filled scenarios that should be top of mind as we head into 2012. When business people start taking short cuts, and things seem to be going just a bit too efficiently…. there may well be a price to be paid.  By not following convention or best practices in the securement of bills of lading, or in the lack of due diligence or screening in the selection of interline or other carriers, things could go from not so great to worse.  Invite your clients to join us as we explore two current issues in today’s commercial environment that are fraught with risk.

February 9, 2012   Delta Meadowvale Resort Hotel, Mississauga

$55 + HST        CIFFA Members and Guests

08:00 – 08:30    Full breakfast
08:30 – 10:00    Panel Discussion

Release of Cargo Without the Original Bill of Lading – Error or Fraud? 

Exactly what are the consequences of releasing cargo before obtaining original BLs? What steps should the reputable forwarding company take to mitigate risks? We’ll review some of the commercial realities freight forwarders face every day – and the risks attached to those realities for freight forwarders and importers.

Identity Theft: Just Who is it that is Picking up Your Cargo? 

The involvement of a surface transport freight intermediary and “double brokering” practices may present efficiencies in the movement of cargo but they also enhance the risk of the theft and of cargo not making it to destination.  What is happening in the current market and what steps might be taken to prevent “identity theft”?

Expert Panelists:
Gordon Hearn, Fernandes Hearn LLP.
Gavin Magrath, Magrath O’Connor LLP
Len Notaro, CG&B Group

Register on-line today at: https://www.ciffa.com/events_register.asp
 

(DC Velocity – Toby Gooley)

Does the Harbor Maintenance Tax (HMT) on U.S. imports encourage the diversion of cargo through Canada and Mexico?

That question – the subject of an ongoing Federal Maritime Commission (FMC) inquiry – may sound like an obscure exercise in policy analysis. But the inquiry has evolved into a debate over much broader issues, including whether government policies are putting U.S. seaports at a competitive disadvantage and are thereby restricting the country’s economic growth.  Depending on how the government chooses to respond to the FMC’s findings, there could be several potential outcomes: Congress could change the way the HMT is assessed and its funds allocated, the United States could end up in a dispute with Canada and the World Trade Organization (WTO), and costs could rise for many importers and exporters.

Currently, U.S. importers pay a Harbor Maintenance Tax (HMT) of 0.125 percent on the declared value of imported merchandise. Established in the 1980s, the tax and its associated Harbor Maintenance Trust Fund are designed to help fund the U.S. Army Corps of Engineers’ harbor maintenance projects, including dredging. The fund has built up a multibillion-dollar surplus, which critics say is being used to help reduce the federal budget deficit instead of paying for needed waterways improvements. Read more here
 

(The Globe and Mail – John Ibbitson)

Did the Obama administration’s decision not to approve the Keystone XL pipeline damage relations with the Harper government? The short answer is no, and proof of that comes Monday, when International Trade Minister Ed Fast will announce the extension of the softwood lumber agreement in Washington.

The agreement, which Canada and the United States signed in 2006 – after years of acrimony, countervails and court actions – expires in 2013. Rather than repeat an unhappy chapter in Canada-U.S. relations, both sides have chosen simply to extend the existing deal until 2015. Read more here.
 

(International Freighting Weekly – David Badger)

More trucks are hijacked, but better security means gangs are forced to target lower-value shipments

Cargo crime in the US hit another record high in 2011, as criminal gangs escaped with hauls worth an average of almost $320,000 – but this figure is down on recent years.  In its annual U.S. Cargo Theft Report, FreightWatch International, a global logistics security services provider, said 974 cargo theft incidents were recorded last year.

CEO Barry Conlon said: “While the rate of theft continues to rise, we are pleased to see the average value per incident begin to decline.  This shows that shippers, and the industry as a whole, are beginning to secure their high-value cargo more effectively, forcing criminals to target less-valuable loads.” Read more here.