Effective May 14, 2021, MSC’s restricted cargo misdeclaration fee will increase. A fee of 25% of the cargo value with a minimum of $5,000 will apply for all shipments exporting from the USA which are restricted and shall include, without limitation, any commodity on the US Munitions List or on the Wassenaar Arrangement Dual List Categories, and any item, which by its design or characteristics, is on any similar list applicable to the Carrier.
Five major shipping corridors face distinct operational impacts through the 2026 El Niño season, according to analysis published by Sofar Ocean.
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US-Iran negotiations toward a final peace deal continue, sometimes under fire, as Iran escalates steps aimed at establishing itself as the sole authority over the Strait of Hormuz, leading to…
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