Market Updates

UWL hosts first Customer Forum on industry hot topics

UWL Customer Forums bring cargo owners and industry thought leaders together to tackle tariffs and prepare for new regulations.  

The ever-changing nature of the global freight landscape means shippers need to stay on top of the latest maritime industry news and trends or else risk unforeseen impacts to their operations.

At UWL, we strive to be the eyes and ears of our customers' supply chains, helping them navigate the choppy waters of international shipping.  That's why this month, we launched the first of our UWL Customer Forums, where we gather small groups of our clients together with seasoned experts to discuss industry hot topics and how to best prepare for them. 

UWL-President-Duncan-Wright-Headshot-300x300

"In a world where global policies can change in the few seconds it takes to share a tweet, our customers have a bigger need than ever for timely information about important topics that could affect their supply chains," said UWL President Duncan Wright.

"As we've grown, we've begun holding roundtable-style UWL Customer Forums to bring our clients together with key subject matter experts so they can garner exclusive market insights that help them plan their logistics activities with confidence."

Our first UWL Customer Forum was graciously hosted by UWL's parent company, World Group, at their newly renovated headquarters in Rocky River, OH.  Over 25 representatives from a variety of local businesses attended the event, which was split into morning and afternoon sessions covering Section 301 Tariffs and the upcoming IMO 2020 low sulfur fuel regulations. 

 

Key Takeaways

  • There are Section 301 tariffs on nearly all imports from China and the tariffs affect almost every industry — from pet supplies to chemicals, retailers to wholesalers — representatives from companies across industries were present and shared their experiences.
  • When it comes to mitigating tariff impact, strong relationships with your suppliers in China can make all the difference if alternative sourcing isn't an option. 
  • IMO 2020 is coming and will affect all of the ocean carriers. The regulation will lead to increased bunker charges next year, hitting longer routes the hardest.

 

Section 301: Tariff lists, Exclusion Process & Refunds

In our first discussion, UWL compliance expert, Shannon Dillinger, LCB, CCS, answered burning questions about Section 301 and went over the latest tariff updates. 

We had a lively discussion with our clients, many of them recalling their first-hand experience dealing with the tariffs and applying for exclusions. 

Dillinger then shared proven tips to mitigate tariff impact to their businesses, pointers for successfully getting an exclusion request approved, and explained how the refund process works for those who were unfamiliar with it. 

 

IMO 2020: What is it and how will it impact container shipping?

Dillinger was joined by Evan Hartman, Director of 3PL Services, who explained the new IMO 2020 global low sulfur rule and how we predict it will affect the shipping industry in coming months. 

Evan shared pros and cons of the three main options carriers are considering to comply with the ruleLow Sulfur Fuel, Scrubbers, and LNG—and how we expect these changes to impact pricing and rates for 2020. 

 

More UWL Customer Forums on the way

After the success of our first forums in Cleveland, we're proud to announce that we will be expanding the program to other regions in the future.  Stay tuned for more details!

Couldn't make it to the first UWL Forum in Cleveland?  We'll be holding another one in the spring on April 2nd, 2020.

Click the image below to save your spot! 

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