Logistics Recap
October 8th – October 14th
U.S. pulls trigger on Russian sanctions, crude tankers blacklisted
It took a while but it finally happened: The U.S. Treasury Department has begun sanctioning tankers transporting Russian crude oil valued above the West’s price cap.
Since Dec. 5, 2022, the Group of Seven nations, members of the European Union and Australia have barred their countries’ marine service providers from working with tankers carrying Russian crude priced above $60 per barrel. Tankers carrying crude above the cap that use G-7, EU or Australian services have been threatened with sanctions.
Maersk grows air cargo network
Maersk opened a new freight hub near Los Angeles International Airport (LAX) as it looks to grow its air cargo network in North America, according to an Oct. 3 release.
The 130,000-square-foot air facility triples its West Coast capacity, allowing for “more supply chain integration opportunities and better scaling to care for seasonal peaks as well as market driven volume spikes for breakout product launches,” according to the release.
Read More Here Supply Chain Dive
Trade could be impacted following Isreal-Palestine conflict
The conflict between Israel and Palestine could impact the movement of goods to and from Israel, according to Hossein Norouz Fashkhami, a freelance business consultant and who specializes in the Middle East, in a recent blog post.