The Cargo Letter
THE CARGO LETTER 
Air & Ocean Logistics - Customs Broker News
28 May 2002
Good Tuesday Morning from our Observation Deck...... overlooking the
officially designated "Cargo City" area and....... Runway 25-Right, at Los
Angeles International Airport, voted "Best Cargo Airport in North America".
Here's what you need to know for May 2002.
Contribute your knowledge, stories & company information ........ by
e-mail to The Cargo Letter. We strive to
bring you useful information which is timely & topical. Be sure to visit our
To post comments or discuss articles, go to ....... http://www.interpool.com/tcl/disc1_frm.htm
Michael S. McDaniel, Editor & Publisher, Countryman & McDaniel,
forwarder/broker attorneys at LAX.
INDEX to The Cargo Letter:
Section A: Section: Trade, Financial & Inland News
Section B: FF World Air News |
Section C: FF World Ocean News | Section
D: FF in Cyberspace |
Section E: The Forwarder Broker World
Freight Forwarder Trade Briefs
The Cargo Letter Financial Page
- World Trade Way Off ........
as world merchandise trade declined by
1% in volume in 2001, its worst performance in 20 years, following a slump in
demand for technology products that will cramp future growth, the World Trade
Organization (WTO) reported this month. World trade fell in value by 4% to
$US6 trillion in 2001, the biggest annual retreat since 1982, the
Geneva-based WTO said in its latest report on Int'l trade. Technology
manufacturing centers such as Singapore & Taiwan suffered their worst trade &
output performance in 30 years, but China, India & Brazil, which are less
reliant on high-tech, posted strong growth in exports.
- UK Freight Transport Assn. Wants Cooperation ........
as it says the
U.S. government must cooperate with its Int'l trading partners to develop a
maritime security regime that both delivers a high level of security but
also, wherever possible, facilitates legitimate Int'l trade. Speaking to an
audience of leading U.S. shippers & security experts at the Monterey Seminar,
Garry Mansell, vice chairman of the FTA's Shippers' Council, said that the UK
is standing shoulder to shoulder with the U.S. in the war against terrorism
and that UK shippers share their American colleagues' desire to see a high
standard of container security introduced. However, the U.S. cannot do this
alone, but must work with other countries (that are also likely terrorists
targets) to develop a security system that could be applied globally, Mr.
Mansell said. He said: "In the UK for example, we have a security system for
air cargo that has successfully operated for several years. "It has both
ensured high levels of security while also seeking to facilitate legitimate
trade. There is much that the U.S. can learn from such existing security
- Teamsters & UPS Face Deadline ........
as rank-and-file Teamsters at
United Parcel Service voted overwhelmingly to give union leaders authority to
call a strike if their contract expires July 31 without a new deal. UPS
downplayed the vote, saying the outcome was a foregone conclusion. "The vote
doesn't reflect any problems at the table," said Norman Black, a UPS
spokesman. "In fact, the company & the union are making great progress on the
contract. "We still believe we can complete an agreement before the
deadline." About 1 of every 7 Teamsters is a UPS employee, and the company's
drivers & package loaders pay the lion's share of dues. The Teamsters
represent about 210,000 of UPS' 330,000 domestic employees. The last
negotiation, in 1997, produced the 1st national strike against UPS, and it
brought UPS deliveries to a virtual standstill. UPS lost about US$750M in
revenue & union members missed US$200M in wages. The teamsters stated on May
24: "After a week of negotiations in Chicago where progress was made, UPS
contract talks shift to Washington, D.C. during the next 3 weeks. "I was
pleased with the progress we made this week, & I hope the National
Negotiating Committee makes further progress next week," Ken Hall, Parcel &
Small Package Division Director, said May 24, 2002.
- Green Light ........
as the 9th U.S. Court of Appeals denied an
emergency request by environmental, consumer & labor groups seeking to stop
the federal government from implementing regulations for operation of Mexican
trucks in the U.S. The coalition sued the Dept. of Transportation on May 2,
just 2 days before the regulations were set to go into effect. The appeals
court said the briefing schedule for the case remains in effect -- meaning
only the emergency order is denied -- no final case decision has been
rendered. The Federal Motor Carrier Safety Administration expects the Mexican
border open to trucks this summer.
- U.S. Customs Abroad ........
as agents are to be posted to a number
of key European ports in coming weeks as part of a pilot project to seek ways
of tightening security on both sides of the Atlantic.
- Merger For Customs "Unlikely" ........
as U.S. Customs Commissioner
Robert C. Bonner said a plan proposed over the past few months to merge his
agency with the U.S. Border Patrol and the Immigration & Naturalization
Service is "fairly unlikely." Speaking at the American Assn. of Exporters &
Importers conference in New York, Bonner said he doubted such a merging would
happen, citing that governmental reorganizations are difficult tasks onto
themselves. "Whether it should happen or not, I think it's fairly unlikely,"
- Advanced Manifests? ........
as U.S. Customs Commissioner Robert
Bonner said his agency would consider implementing a program requiring
prefiling of cargo manifests with information on the shipper, consignee, &
contents 24 hours before lading at a foreign port. This effort, Bonner said,
could be part of a Custom's post-Sept. 11 security program, the Container
Security Initiative, which calls for pre-screening of containers before
arrival at a U.S. port.
- The Most Important Job ........
as U.S. Customs plans to double
its capacity to check foreign mail & cargo for radioactivity within a year by
buying thousands more personal radiation detectors. Commissioner Robert
Bonner said 4,300 more detectors are needed to provide one to each of the
agency's inspectors, canine enforcement officers, mail specialists and seized
property specialists. More than 4,000 customs inspectors already screen
foreign shipments with personal radiation detectors, and the rest will be
bought by Jan. 2003 with US$7.3M, Bonner said.
- No More FAK? ........
as the term "Freight All Kinds" (FAK) & other
non-specific wording used to describe containerized shipments would be
eliminated under legislation proposed by Sen. Charles Schumer (D - N.Y.) The
Port Terrorism Prevention Act of 2002 (S 2426) also orders the Customs
Service to manually inspect 10% of all incoming cargo. Members of Congress
have frequently complained since Sept. 11 that Customs only inspects 2% of
all containers. Customs contends the total is closer to 5%. The bill would
amend the Tariff Act of 1930 to prohibit descriptions on cargo manifests like
FAK, "hazardous not otherwise specified," & "said to contain." It imposes
fines for inaccurate counts of merchandise on a manifest that are not
reported when a vessel or vehicle makes formal entry. Fines for inaccurate
manifests would double, to US$10,000 for the 1st violation & US$20,000 for
the 2nd. But how can a master bill of lading not read "said to contain" when
the custodial carrier has received a sealed container from an NVOCC? Imagine
the time & money involved with physical inspections? What about "Known
Shipper" rules of the sort used in airfreight? We doubt that terrorists will
properly manifest their evil devices anyway. We have recently seen many well
intentioned post 911 security bills which fail to understand our industry.
- WTC Drawback Deadline ........
as U.S. Customs has warned duty
drawback filers that June 12 is the deadline to reclaim bonds destroyed in
the World Trade Center on Sept. 11. Of the 35,000 lost bonds -- some dating
back to the late 1890s -- less than a dozen claims have been filed, said the
Customs' Drawback & Records Branch. Those who do not apply run the risk of
having those bonds being terminated by Customs. Of those bonds lost, about
5,000 were drawback bonds. Importers should send a copy of the bonds when
applying for a reclaim.
- China 4th ........
as a report by the World Trade Organization
indicates that China has for the 1st time overtaken Canada to become the
world's 4th-largest trade economy after the U.S., the European Union & Japan.
The report, published May 2, was based on each country's data on import &
export of commodities and services in 2001.
- Expect More Brazil Exports ........
as Brazil's trade surplus for the
1st four months of the year was the country's best since 1995, & economists
are looking for the surplus to grow as crops begin to be harvested & exports
rise from the weakness of the nation's currency. The Ministry of Development,
Industry & Foreign Trade said that the trade surplus was at US$1.53Bn as of
- A Reminder From Canada Customs & Revenue Agency ........
as it has
issued a reminder that, effective May 1, 2002, the correct 10-digit
Harmonized System code will be required before shipments are released.
Commercial imports valued over CAN $1600 will be affected.
- Japan - Mexico Free Trade? ........
as their senior ministers agreed
on 15 May that negotiations on a bilateral free trade agreement between the
countries would ideally be launched this Oct. The countries came to this
agreement during sideline meetings at the annual ministerial Council meeting
of the Organization for Economic Cooperation & Development (OECD) The
countries are awaiting a report later this year, prepared by a joint panel of
experts tasked to undertake feasibility studies.
- A Beacon In Japan ........
as Japan's top automaker Toyota Motor Corp.
saw net profits surge more than 30% for the latest fiscal year on hefty sales
in both Japan and the U.S. Toyota reported earnings of 615.8 billion yen
(US$4.8Bn) for the fiscal year ended in March, up from 471 billion yen a year
ago. Sales totaled 15 trillion yen (US$118Bn) -- the best ever for the
company -- up 12% from 13 trillion yen the previous year. >> Mitsubishi
Motors Corp. returned to the black for the 1st time in 3 years. Trend?
- Keeping Israel Trade Open ........
as Kenneth I. Juster, U.S. Commerce
undersecretary for Industry & Security, said the government will "vigorously
enforce" its rules prohibiting U.S. shippers from taking any action to
support foreign government boycotts against Israel. The Bureau of Industry &
Security has a long record of aggressive enforcement of anti-boycott
regulations with more than US$26M in civil penalties imposed, a criminal
conviction, and denials of export privileges where violations have been found.
- Steel Row ........
as the European Commission has announced potential
increases of US$583M in duties levied on US$2.2Bn worth of U.S. exports to
Europe as potential retaliation for the U.S. increasing import duties on
steel imports from Europe. The European duty increases would be enacted if
the World Trade Organization rules that recent duties on steel imports by the
U.S. administration are in breach of Int'l rules. The published lists of U.S.
exports includes fruit juices, T-shirts and a variety of goods. Exports of
these goods would be hit by increased duties of 8%, 13%, 15% or 30%. On May
11, 13 U.S. senators urged President George W. Bush to stop making exemptions
for the emergency steel tariff imposed in March to protect struggling
domestic steel makers, saying such move would undermine the effectiveness of
- Atomic Hula Veggies ........
as the U.S. Dept. of Agriculture has
proposed new regulations to allow certain fruits & vegetables from Hawaii
into the U.S. mainland if they have undergone irradiation treatment. If
approved, the irradiation would cover shipments of Hawaiian-grown bell
peppers, eggplants, mangoes, pineapples (other than smooth Cayenne), Italian
squash & tomatoes. The USDA said treatment could be either conducted in
Hawaii or in non-fruit-fly areas of the U.S. mainland.
- Mexispuds ........
as U.S. & Mexican agriculture officials have
negotiated a protocol agreement that will soon allow U.S. table stock potato
farmers to export to Mexico. Under the agreement, the U.S. Dept. of
Agriculture must also complete a risk analysis for a proposed rule to allow
Mexico mini tuber potatoes into the U.S. by June. The negotiated protocol
addresses several measures, including the application of sprout inhibitor,
sealing trucks at origin, & traceability of potato shipments, to address
Mexico's phytosanitary concerns about nematodes & viruses. The Mexican market
is valued at US$30M a year to U.S. farmers. Mexican investment in the U.S.
food industry increased from US$300M in 1997 to more than US$1Bn in 2002.
Likewise, U.S. investment in Mexico was US$5.7Bn in 2000, up from US$2.3Bn in
- Rail Beef? ........
as the U.S. Surface Transportation Board has
reviewed rules for arbitrate railroad-related disputes. These steps include
preparing an updated roster of arbitrators, and a request that complainants
consider voluntary arbitration 1st for dispute settlement. Obtain a roster of
29 available arbitrators from the STB's Office of Congressional & Public
Services at (202) 565-1594.
- Throw Mamma From The Train ........
as UK rail freight operators are
preparing to sue the French government for £30m (US$43M) in damages after 6
months of disruption to Channel Tunnel through-train services due to stowaway
asylum seekers. A large camp of asylum seekers is at the French side portal
to the Chunnel.
- No To Grupo TMM ........
as the largest Latin American multi-modal
transportation company & owner of the controlling interest in Mexico's
busiest railway, Grupo TFM, stated that it is satisfied with the ruling by
the Mexican government on May 16, 2002, that the merger between Ferrocarril
Mexicano & Ferrocarril Del Sureste, the country's 2nd & 3rd largest railways,
was denied permission by the government on antitrust grounds.
- Total K ........
as "K" Line America Inc. has formed a new
company based in Richmond, VA, "K" Line Total Logistics LLC, to promote the
group companies' logistics capabilities. Members of "K" Line Total Logistics
(KLTL), which are already offering services in North America and overseas
are: Century Distribution Systems Inc., Universal Warehouse Co., ULS Express
Inc.,"K" Line Air Service (USA) Inc.
- Protection From The Members ........
as Dave Lucia, cofounder of World
Cargo Alliance, has formed a new forwarder network, "Security Cargo Network."
Launched May 1, it has 13 member companies operating 24 offices in 12
countries & will have a non-exclusive structure. One feature of the network
is SecurityPlus!, a payment guarantee program that protects members for up to
US$10,000 against the bankruptcy or extreme default of another member
- Kuehne & Nagel In Mauritius ........
as it has purchased 51% of the
shares of Nakufreight (Mauritius) Limited, which has been a KN agent in
Mauritius since 1989. Nakufreight, established by Currimjee, Jeewanjee & Co
Ltd., is based in Port Louis, Mauritius, & has a staff of 25.
- Promotions At Avalon ........
as Gary C. Bhojwani, president of
Avalon Risk Management, Inc. has accepted a new position as the president of
Lincoln General Insurance Co. >> Lincoln specializes in underwriting
insurance for transportation companies, most notably trucking firms & is
expected to exceed US$500M in premium revenues this year. Scott Wollney will
succeed Mr. Bhojwani as president of Avalon Risk Management, a leading
national insurance broker to the transportation & customs industry based at
Schaumburg, IL. Both companies are owned by Kingsway Financial Services.
- Helping Hand From UPS ........
as President George W. Bush,
accompanied by Mayor Richard Daley, joined UPS CEO Mike Eskew & thousands of
UPS employees in Chicago on May 13 for a special event recognizing UPS's
success in recruiting & hiring welfare recipients. Since the Welfare Reform
Act was passed in 1997, UPS has hired more than 52,000 people off welfare
nationwide -- more than 6,000 in the Chicago area. The success of UPS's
welfare-to-work program in Chicago has been fueled by the company's
partnership with the PACE Suburban Bus System, which provides 2,500 UPS
part-time employees with flexible transportation to & from work.
- Helping Hand From Fritz ........
as the world's largest humanitarian
network, the Int'l Federation of Red Cross & Red Crescent Societies, is
collaborating with the renowned U.S.-based Fritz Institute in the design of a
state-of-the-art, web-based humanitarian logistics software. Fritz Institute
will customize its proprietary logistics software following intensive study
of the Federation's logistics needs. A Fritz Institute team of logistics &
software experts is now at work in the Federation's Geneva Secretariat to
tailor the software, which will enable the organization and its 178 member
Red Cross & Red Crescent Societies to provide unparalleled support to
emergency relief operations anywhere in the world. Lynn C. Fritz founded the
Fritz Institute. A pioneer in the global logistics industry, Fritz was
Chairman & CEO of the Fritz Companies Inc. until May 2001 when it was
acquired by UPS Inc.
- Paperless Government? ........
as in just 3 years, the U.S. Military
Traffic Management Command has successfully converted its entire domestic
freight payment process from paper government bills of lading to a commercial
system of electronic transactions. There are 550 participating MTMC
carriers. This includes about 430 trucking firms, 25 barge operators, 20
pipelines, 20 railroads, & 15 ocean carriers. Personal property movers are
not on the system. MTMC uses the PowerTrack payment system, developed by
Minneapolis-based USBank. In the last fiscal year, ending Sept. 30,
PowerTrack paid US$1.1Bn in MTMC transportation charges for 2.7 million
transactions. For a sliding fee of 1% to 2%, contracted MTMC carriers are
paid within days for their services. Could someone introduce these people to
- Road Warriors ........
as the American trucking industry has rolled
out its Anti-terrorism Action Plan (ATAP) targeted to keeping key highways
open, safe, & secure -- and enabling the 'wheels of commerce' to keep
rolling. Under the plan, a potential 3 million professional truck drivers
will be trained to spot & report any suspicious activities that might have
terrorism or national security implications. Their goal: to make certain that
a truck is never used as a weapon. The action plan is a coordinated effort of
the Trucking Security Working Group, a task force of organizations
representing hundreds of thousands of transportation, trucking, &
trucking-related workers in the U.S. & Canada. Included are associations of
long haul & local trucking companies, tank truck carriers, agricultural
transporters, moving & storage firms, truck rental companies, truck stop
operators, & intermodal groups.
- CY/Door "DrayWatch" ........
as Maersk Data USA, has released
DrayWatch, a real-time, Web browser-based solution that tracks a container
once it leaves the terminal gate via truck. DrayWatch lets liner & trucking
personnel use the Web to record a container's significant status events as
they happen, and automatically alert their shipping partners of those events
at the same time. The shippers also get instant updates on the status of the
containers carrying their cargo. The system also allows liner & trucking
companies the ability to go online to post & accept work orders, using
customizable, secure Web pages. Maersk Data is a unit of A.P. Moller, whose
units include Maersk Sealand.
- Heavier & Bigger Trucks OK? ........
as government advisers recommend
"BIG" should be allowed on interstate roads because they can carry more goods
at a lower cost. Researchers said a new federal agency should study how those
trucks affect safety and traffic on the highway system. Trucks weighing
90,000 pounds - 10,000 more than the current limit - should be able to use
the interstate highway system, the National Research Council report said.
Also, those roads should be open to tandem trucks hauling two 33-feet
trailers, compared with the 28-foot trailers now permitted. The
recommendations were praised by the trucking industry & criticized by a
highway safety advocacy group. Congress requested the study as part of
legislation in 1998 renewing highway & transit programs for 6 years.
- Sleepy Time ........
as the European Parliament will soon approve a
mandatory extension to nighttime rest periods for long haul truckers. Their
nighttime rest periods will be extended from 11 to 12 hours. The Dutch
Transport Operators Assn. called upon EU ministers of transport to reject the
proposal, unless "bunny slippers" are mandated.
- Imported "Compact Car" ........
as police are trying to search for
& identify the remains of a murdered Japanese man whose body is believed to
have been crushed in an automobile compactor & shipped to China. The National
Police Agency said investigators will ask Chinese police to search for the
remains of Hiroyuki Taniguchi, 41, among some 1,000 compacted cars exported
to China as scrap metal. The car carrying Taniguchi's remains is believed to
have been exported in early March to the port of Tianjin. Taniguchi, a
resident of Kumagaya, Saitama Prefecture, was allegedly strangled Feb. 19 in
a forest in Kodama, Saitama Prefecture, after being involved in trouble at a
sex parlor in Kumagaya. His body is believed to have been put in a car that
was crushed in an automobile compactor at an industrial waste processing
factory in Kodama. In mid-March, police arrested 7 people on suspicion of
extortion & illegally disposing of Taniguchi's body.
- Unfiltered Hezbollah ........
as 2 brothers were part of a ring that
smuggled US$7.5M in cigarettes from North Carolina to Michigan and sent the
profits to Lebanese militants, a prosecutors said May 23. In opening
statements in the trial of Mohamad & Chawki Hammoud, Assistant U.S. Attorney
Ken Bell said the two & their coconspirators used fraudulent marriages to
enter the U.S. then began smuggling to help Hezbollah. During the 2nd half of
the 1990s, the smuggling ring bought 500,000 to 750,000 cartons of cigarettes
to resell, established fake identities and bank accounts, & set up false
lines of credit to launder money. "This is a Charlotte Hezbollah cell," Bell
said. "They didn't have business cards, but they were operating here in
Charlotte." An attorney for the older brother said his client ran a
legitimate business selling cigarettes & was only a bystander. Hezbollah,
which means "Party of God" in Arabic, led a guerrilla war against Israel's
18-year occupation of a border zone in southern Lebanon. The group is blamed
for a number of attacks, including the 1983 bombing of the U.S. Embassy & the
Marine barracks in Beirut that killed 241 American servicemen.
- Atlas Air Worldwide Holdings Inc.
(parent of Atlas Air Inc. & Polar Air
Cargo) DOWN with a 1st-quarter net loss of US$6.7M, compared to a net loss of
US$1.6M in year-earlier period.
- British Airways.
DOWN a pre-tax loss of £ 200M (2001: £ 150M profit) for
the full year to March 31, 2002, ahead of market expectations. There was a
pre-tax loss for 4th quarter of £ 85M (2001: £ 65M loss).
- Cargolux Airlines.
UP with a net profit of US$15.4M for the year 2001.
Operating profit was US$ 22.3M, a decline of 38.25%. Revenues held up better,
slipping only 1.75% to US$731.1M.
- Descartes (logistics software)
DOWN for 1st quarter with an adjusted loss
of US$4.4M, $6.1M on a Gaap base, compared with a loss of US$12.3M in the
corresponding quarter a year ago.
- Expeditors Int'l of Washington Inc.
UP with 1st-quarter net income of
US$22.2M, up 5% from the year-earlier period -- 1st-quarter result tops a
1st-quarter of 2001, which was up 58% over 1st quarter of 2000.
- Frontier Airlines.
UP with its 4th consecutive profitable year with net
income of US$16.5M, or $0.56 per diluted common share, for its fiscal year
ended March 31, 2002.
- Hyundai Merchant Marine.
UP with a net profit of US$24M for 1st quarter
- Japan Airlines.
DOWN as it lost US$285M in fiscal year ended March 31, as
the Sept. 11 terrorist attacks sent air travel plunging.
- Lufthansa Cargo AG.
UP with 1st quarter of 2002 pre-tax results to E
2.8M, which is E 15.7M up on same period last year.
- K Line.
DOWN with consolidated operating income of US$143M in fiscal
2001, off 47% from 2001.
DOWN with an operating loss of EUR 124M for 4th quarter ending March
31, 2002, compared to an operating loss of EUR 70M last year.
- Mitsui O.S.K. Lines.
DOWN with a 24% lower group operating income of
US$449M fiscal year ended March 31, as it blamed results of its
- NYK Line.
DOWN as income plunged 50.7% to US$131.6M in fiscal 2001 as
rates & cargo movement dropped due in part to the U.S. recession & sluggish
- P&O Nedlloyd.
DOWN with a loss of US$68M in Q1, compared to profit of
US$68M same period last year, despite carrying 791,700 TEU, 9% up on 2001's
Q1 figure. Company blames its poor result on overcapacity within the industry
that has hit freight rates hard.
- Pacer Int'l.
UP with a turnaround in profitability from a US$400,000 loss
in 1st quarter of 2001 to a net profit of US$3.7M in the same period this
UP as pre-tax profit for 2001 rose 21% to US$139M with net
income at US$70M.
DOWN with a US$129M loss in 1st quarter, compared to a profit in 1st
quarter of 2000.
- Schenker AG.
UP as earnings in 2001 improved nearly 19% to Euro 128M.
- Sea Containers.
DOWN with a net loss of US$6M in 1st quarter.
- Singapore Airlines.
UP, although net profit fell 61% to US$351.9M for the
year to March 31. Cargo load factors have improved dramatically since the
start of the year; at the end of March, standing at 68%.
- Taget Logistics, Inc.
DOWN with a net loss of US$293,222, or $0.03 per
basic & diluted share.
- Uniglory Marine Corp.
(Evergreen group's Asian regional container
shipping) UP with a "modest" profit in 2001, of US$4.7M bringing the company
back into profit following its 2000 loss.
- Pacer Int'l IPO ........
as the company which provided about a quarter
of all U.S. intermodal rail container shipments last year, is planning an
initial public offering of its stock. The company will use expected net
proceeds of US$135M to pay down term & revolving debt, which together totaled
US$238.1M as of April 5. The company says it plans to sell 9.25 million
shares of common stock for between US$15-US$17 per share. Current
shareholders will also sell another 4.75 million shares, that money will not
be available for corporate use. The company plans to list the common stock on
- Panalpina IPO ........
as one the world's 5 largest Int'l forwarding
groups will seek an initial public offering on the stock market this year or
next year. The sole shareholder of the Swiss forwarding group, the Ernst
Gohner Foundation, will decide at a board meeting in June when to schedule
the IPO, and what percentage of the group's shares would be sold.
Panalpina's gross revenue rose 30% from 1998 to 2001, to US$4Bn. During the
same period, the company's share capital remained US$30M, but its retained
earnings soared to US$352M in 2001. Cash-rich Panalpina group had assets
totaling US$836M at the end of Dec, and virtually no borrowings. Panalpina
Group has over 300 branches in 74 countries, & employs 12,000 people
Please click below for other sections:
Section A: Section: Trade, Financial & Inland News
Section B: FF World Air News |
Section C: FF World Ocean News | Section
D: FF in Cyberspace |
Section E: The Forwarder Broker World
Written from wire stories, the Associated
Press, Reuters, Hong Kong Shipping News Lloyds & other world sources.
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