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Ascent Global Logistics News Update
ASCENT GLOBAL LOGISTICS NEWS
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Bayonne Bridge Project to Finish Six Months Early

The Port of New York-New Jersey has announced that the raising of the Bayonne Bridge will be completed this month, six months ahead of schedule. The $1.6 billion project will allow vessels as large as 18,000 TEUs (Twenty-Foot Equivalent Units) to call at three additional container terminals at the busy East Coast port complex. Containerships with capacities over 9,500 TEUs could previously only access the GCT Bayonne Terminal. After the project is completed, vessels will be able to reach Maher Terminals and APM Terminals in Elizabeth and Port Newark Container Terminal in Newark. Read more here

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Expanded Panama Canal Sets Record

On Wednesday, May 24, a new record was set when the OOCL France transited the expanded Panama Canal. The OOCL France, measuring 366.47 meters in length and 48.23 meters in beam, has a 13,926 total TEU (Twenty-Foot Equivalent Units) allowance. The OOCL France was presented with the Green Connection Award in recognition of its commitment to emission reductions by using the Panama Canal route. By using this route, the OOCL France helped reduce approximately 5,000 to 26,000 tons of carbon dioxide (CO2) in comparison to alternative routes. Watch: New Panama Canal Record Set by OOCL

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FSVP Enforcement Begins

The U.S. Food and Drug Administration (FDA) began enforcing the Foreign Supplier Verification Program (FSVP) on Tuesday, May 30, 2017. FSVP will require U.S. food or food product importers to perform risk-based activities to verify that imports have been produced in a manner that meets applicable U.S. safety standards. Among other responsibilities, U.S. importers will be required to evaluate and approve foreign suppliers, designate a "Qualified Individual" to create risk-based FSVPs as well as conduct verification activities and corrective actions. Additionally, food or food product importers should ensure the correct DUNS number is on file with FDA. For more information, please contact us

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ATA Reports Decrease in Truck Tonnage Index

The American Trucking Association (ATA) reported the For-Hire Truck Tonnage Index dropped 2.5 percent in April, following a decrease of 1.1 percent in March. ‚ÄúDespite the fact that tonnage is down a total of 3.6 percent over the last three months, I still expect moderate growth going forward as key sectors of the economy continue to improve slowly," said ATA Chief Economist Bob Costello. Costello provides further commentary on the April tonnage report in this video

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U.S. Trade in Goods & Services Increases $2.3B

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced on Friday, June 2, that the U.S. goods and services deficit was $47.6 billion in April, an increase of $2.3 billion compared to March. April exports totaled $191.0 billion, $0.5 billion less than March exports. April imports reached $238.6 billion, $1.9 billion more than March imports. Access the complete report by clicking here

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Vote for Ascent - Inbound Logistics Top 3PL Awards

Each July, Inbound Logistics publishes its Top 10 3PL Excellence Awards. At Ascent Global Logistics, we are extremely proud of our Domestic Freight Management, International Freight Forwarding and Retail Consolidation solutions. If you feel we are deserving, our team would greatly appreciate your vote for Ascent Global Logistics. Click here to cast your vote

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Autonomous Vehicles Get Two Green Lights in Texas

The Texas House and Senate recently passed a bill to establish a basic regulatory framework for autonomous vehicle operation throughout the state. If signed by the Governor, the law will become effective September 1. The passing of the law could help the proposed autonomous vehicle corridor along Route 83 become a reality. The corridor connects Manitoba, Mexico with Texas, Oklahoma, Kansas, Nebraska, the Dakotas and Canada. Click here to read more. 

STATISTIC OF THE MONTH

$100.3 Billion

The total value of cross-border trade between North American Free Trade Agreement (NAFTA) partners during the month of March. (Increase of 10.9 percent compared to March 2016.) The five major modes of transportation - pipeline, vessel, air, rail and truck - all increased in value compared to the previous year. Trucks were the most commonly used mode of transportation, accounting for 60 percent of imports and 68.1 percent of exports.
Read more here

Upcoming Events

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

PPAI EXPO East - June 12 -14; Atlantic City, NJ 

Logistics Symposium - June 13 - 14; HighPoint, NC

3PL & Supply Chain Summit - June 14 - 16; Chicago, IL

Memphis WTC Golf Scramble - June 22; Memphis, TN

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