In the Precision Software News Round-Up: 15 June 2018, the US imposes new air cargo rules, the IMF says there are no winners in a trade war, Volvo Trucks supports efforts to turn scrap diesel engines into renewable power units, and we look at global trade and multi carrier shipping solutions in the Precision Report.
NEW US AIR CARGO RULES COME INTO EFFECT
This week the United States imposed new security regulations on incoming air cargo planes. US Customs and Border Protection stated that there are “ongoing aviation security threats.” The Department of Homeland Security also reported that international air cargo has security vulnerabilities. Cargo planes are not subject to the same stringent security procedures. As a result, terrorist organizations have attempted to exploit these security deficiencies. Airlines heading to the US must now file their cargo security reports with Customs and Border Protection before loading the plane. The new regulations should give US officials more time to do risk assessments whether loads could include explosives, or biological and chemical weapons. For more on this, please click here.
AIR CARGO SPACE AT A PREMIUM DUE TO E-COMMERCE
Cross-border e-commerce is creating an air cargo capacity crunch. Just a few years back, air freight suffered from low rates and excess capacity. However, as cross-border e-commerce has grown, air freight volumes have also grown alongside the market. The International Air Transport Association (IATA) found that in 2017 global air freight volumes grew nine percent. That was the highest year-over-year increase since 2010. Because of the high demand, capacity is now at a premium. To cope with the volume, logistics companies are chartering flights. Furthermore, a number of air cargo providers are adding to their fleets. As well as tight capacity, there are too few pilots. As a result, companies like UPS and Fedex have introduced programs for new pilots. For the full article, please click here.
IMF WARNS AGAINST TRADE WAR
IMF director Christine Lagarde has warned that there will be no winners in a trade war. It seems the ongoing tariff spat is likely to continue. The US is to impose additional tariffs on $50bn worth of Chinese imports. The European Union as well as Canada, China and Mexico have already taken or announced retaliatory measures. The IMF does not expect these ongoing trade disputes to have a significant economic effect. However, the organization has also forecast that the US economy will slow down in 2019 and 2020 as the impact of the US government’s $1.5 tn tax cuts lessen. For the full article, please see BBC News.
VOLVO TRUCKS TEAMS WITH UNIVERSITY FOR RENEWABLE ENERGY PROJECT
Volvo Trucks and the University of Nottingham have joined forces on a project to convert diesel engines due for scrap into renewable power storage units. The project is exploring the possibility of transforming the existing engine hardware into effective reversible compressor/expander machines. If successful, these units will charge electric buses and lorries.
“What can be done with end-of-life engines is an open question,” explained Professor Seamus Garvey of the University of Nottingham. “One option is to melt them down to recycle the steel, but we propose to explore another possibility – re-task these engines to become machines that compress and expand air to store and release energy.” You can read more about this here.
AN POST TO USE ELECTRIC TRIKES
An Post, Ireland’s state-owned Irish postal service, is to buy a fleet of motor-generated cargo tricycles. The postal service operator has road-tested two electric trikes and is to buy a further eight. An Post’s vehicles are likely to be similar to those used by carriers such as UPS and DHL. Read the full article here.
PRECISION SOFTWARE CHOSEN AS A TOP 100 LOGISTICS IT PROVIDER
We are proud to announce that Precision Software has been recognized by Inbound Logistics as a Top 100 Logistics IT Provider for 2018. Every year, Inbound Logistics editors recognize 100 logistics IT companies that support and enable logistics excellence. Editors seek to match readers’ fast-changing needs to the capabilities of those companies selected. All companies selected reflect leadership by meeting Inbound Logistics readers’ needs for scalability, simplicity, fast ROI and ease of implementation.
“Precision Software continues to provide the technology solutions Inbound Logistics readers need to achieve the visibility and control that drive successful global trade and transportation operations. As shippers, carriers and 3PLs increase their use of logistics IT, Precision Software stays flexible and responsive, anticipating customers’ evolving needs. Inbound Logistics is proud to honor Precision Software for innovative solutions empowering logistics, trade and transportation excellence in 2018,” remarked Felecia Stratton, Editor, Inbound Logistics. For more information, please click here.
THE PRECISION REPORT: WHY MULTINATIONALS NEED GLOBAL TRADE AND MULTI CARRIER SHIPPING SOLUTIONS
Political manoeuvring has created challenges for global trade operations. These include lack of clarity regarding UK/EU trade relations post-Brexit, as well as scrappy NAFTA talks and the US withdrawal from JCPOA. Then there is also the ongoing tariff brouhaha and the potential for a trade war. Multinationals may not be able to do much about global trade uncertainties, but they can optimize their operations to navigate dynamic trading environments. In the latest Precision Report we look at automated global trade and multi carrier shipping solutions for multinational enterprises. You can read the full report here.