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CV International & Capes Shipping Agencies Newsletter | Fall 2023

By October 2, 2023No Comments

At CVI, we strive to keep our customers updated on current trends & events impacting their supply chain. We send regular Client Alerts, but encourage you to also follow us on LinkedIn for all the details in-between. On LinkedIn we provide you with Customs updates, company updates, port closures, rate fluctuations, and much more.


Message from President & CEO Mike Coleman

Dear Valued Colleagues, Clients, Partners, and Friends,

As fall approaches, CV International and Capes Shipping Agencies are committed to finishing 2023 on a high note by providing service excellence to our customers as they navigate the ever-changing global shipping and supply chain landscape. Our team members reaffirmed this commitment at our annual Management Meeting in Norfolk, Virginia, last month. As a major East Coast port with a long maritime history, Norfolk’s bustling waterfront is a reminder of the essential role that ports (and we) play in the global economy. The constant movement of ships is a testament to the non-stop nature of shipping, and our clients rely on us to deliver high-level performance in this fast-paced and often challenging environment.

Autumn is also a time to look ahead to the future, and at our Management Meeting, we focused on this year’s theme of “Grow Better.” Despite the ongoing challenges of the global pandemic recovery, there are unique opportunities for CV International and Capes Shipping to grow and thrive. We are committed to serving our clients in various industries, and we are excited to work in new high-growth verticals like offshore wind, material handling equipment, and electric vehicles.

Of course, this growth would not be possible without our first-class team of customs brokers, logisticians, customer service reps, ship agents, sales representatives, technology specialists and accounting professionals. The recent struggles of digital pure-play freight forwarding companies highlight the importance of relationships and the human touch in our industry. In the fast-paced and ever-changing world of global shipping, it takes skilled problem-solvers like the ones at CVI and Capes Shipping to navigate challenges and deliver results. We understand that our people are our most important asset and what sets us apart.

On that note, I’m excited to share that our customer experience survey will take place in October. Last year’s results were overwhelmingly positive, and I’m confident that since then, we have continued to exceed the service expectations of our valued clients. I hope CVI customers will take this opportunity to share honest feedback about their experiences with our company so that we can continue improving our service offerings.

On behalf of everyone at CVI and Capes, thank you for your support. We continue to remain committed to your business and helping you navigate through all the challenges the future may hold as we continue to “Grow Better.”

Sincerely,

Mike Coleman
President & CEO
CVI and Capes Shipping


Market Update

The ocean freight market from Asia to the US has weakened over the last month. On most routings, rates have fallen below contract levels, and vessel space is readily available. After a brief supply-driven peak during late July and August, volumes have slowed, and capacity has not been restricted enough to maintain the rate gains ocean carriers made over the summer.

In China, companies are preparing for an extended national holiday period, the Mid-Autumn Festival and Golden Week; most offices and factories will be closed from September 29 through October 6. Carriers have extended spot rates through October 14 in anticipation of weak demand during this period. However, aggressive blank sailings have been announced for October and November, as carriers attempt to reverse the downward trend in rates. There are reports that carriers are planning to continue significant capacity reductions through Lunar New Year (beginning February 10, 2024), the next extended national holiday in China. Volumes are not expected to increase significantly over the next few months, so carriers will likely double down on efforts to match supply to demand…Read More.

Rachel Shames,
Vice President, Pricing & Procurement


Compliance Update

Continuing Education, For Everyone

Continuing education for Customs Brokers is a pillar of the Customs Broker Modernization Regulations. This requirement, supported by the NCBFAA, underscores the need for individual licensed brokers to stay abreast of changes within the regulations and practices of the industry. Most industries carry similar requirements for their licensed professionals, so it is not surprising that it has arrived for Customs Brokers. Per this regulation, all licensed brokers will be required to complete 36 hours of accredited training within the already established triennial reporting period. Failure to do so could result in a forfeiture of your individual Broker’s License. Customs is currently working to select accreditors, and implementation of the program should occur in the first half of 2024…Read More.

Sam McClure,
Director of Compliance & Customs Services

 


Client & Corporate Support Update

Our Purpose at CV International is to deliver personalized international logistics and shipping solutions through a values-based culture of service excellence. We recognize that our people are integral to delivering on that purpose, so providing a professionally and personally rewarding employee experience is vital to our success.

To ensure that we are delivering the best possible employee experience for our team, each year we conduct an anonymous employee experience survey. In this survey, we ask our team to rate us on a number of statements and to provide us with open-ended feedback, including any concerns or ideas for improving their experience.

Since we began the survey several years ago, we have made a number of changes to internal policy as well as other areas in response to the feedback received from our team. We have also seen our survey scores steadily rise over the years as we have taken actions to improve our workplace. For example, in the 2023 survey, 95% of respondents agreed or strongly agreed with the statement, “My coworkers act and make decisions in a manner consistent with our Core Values.” Additionally, 90% of respondents agreed or strongly agreed with the statement, “My supervisor cares about my well-being as a person.”

We know that open communication is vital to our team’s success, so the employee experience survey is not the only opportunity for sharing ideas. We also encourage quarterly one-on-one meetings between supervisors and employees, and our executive team maintains an open-door policy for any employees with concerns or ideas for improvement.
Stewardship is one of our Core Values, which means that we invest in the care and development of our people. The feedback we receive from our people allows us to ensure that we are delivering on the values-based culture that we desire.

Kevin Briggs,
Vice President, Client & Corporate Support


Business Development Update

The Birth of a New Industry: Electric Vehicles

The birth of a new industry. A once-in-a-generation opportunity. Hockey stick type growth curves. Such superlatives are often used to describe the electric vehicle (EV) industry. Federal, state, and local governments are rolling out the red carpet to the EV industry as the U.S. positions itself for a global race to secure the needed raw materials, inputs, and manufacturing capacity to meet incredible expected demand driven by climate-related goals. These are the types of favorable trends that entrepreneurs look for (i.e., rapidly growing markets, propensity to outsource so companies can focus on their core business, etc.), and CVI is excited to explore opportunities in this burgeoning sector.

I recently attended The Battery Show and Electric & Hybrid Vehicle Technology Expo in Michigan. The positive energy and excitement at this event were palpable, with over 15,000 attendees, 200 speakers, and 775 exhibitors. As a new supply chain emerges to serve this sector, a plethora of companies are positioning themselves to be part of the explosive growth expected in EV. CVI needs to be one of them, given the global nature of the automotive industry and its complex logistics requirements. Last Summer, CVI conducted research on the EV industry, and fortunately, many of these companies and their major investments are heading in our geographic direction. In the form of Mega-sites planned throughout the Mid-Atlantic and Southeast. Our research yielded a dozen sites across NC, SC, GA, AL, MS, TN, and KY, each with a minimum investment of $1B and reaching up to $11.4B. The economic impact of such facilities promises to be extraordinary. Consider, for example, the impact of a traditional automotive manufacturer site: BMW, in Spartanburg, SC. It’s said that the plant, now in existence for 30 years, is responsible for $26.7B in annual economic impact, supporting 43,000 jobs across the state and sourcing from over 500 suppliers statewide. Similar trends will likely develop at these EV mega-sites as this new industry sets up shop in our region.

As we embark upon this journey, I’m reminded of the adage, “The easiest way to get rich in a gold rush is to sell picks, shovels, and pans.” There will be a prolific spectrum of various supplies and inputs needed in the EV industry, a large component of which will be sourced globally and thus will need to be shipped and cleared through U.S. Customs. We’re excited about the future in such high-growth sectors and to demonstrate the value that CVI can bring to EV-related logistics.

Bill Smith,
Vice President, Business Development & Sales


Company News


President & CEO Michael Coleman included in Virginia Business’ Virginia 500 List

CV International and Capes Shipping Agencies are proud to share that our President & CEO, Michael Coleman, was recently included in Virginia Business‘ Virginia 500 List, their annual list of Virginia’s 500 most powerful and influential leaders.

In addition to running CV International and Capes Shipping Agencies, Mike is involved with a number of key maritime and economic development organizations in and around the Norfolk area. As the article outlines, Mike is a commissioner of The Port of Virginia and chairs the century-old Virginia Maritime Association. He’s also a board member of the Hampton Roads Shipping Association and sits on the Virginia Economic Development Partnership‘s Advisory Committee on International Trade. He was also appointed to the Virginia Board for Branch Pilots in 2019 and currently serves as its president, overseeing the licensing and regulation of harbor pilots in Virginia.

Read the full article here


CV International and Capes Shipping Agencies hold Annual Management Meeting in Norfolk, VA

In August, CV International and Capes Shipping Agencies held their annual management meeting in the beautiful city of Norfolk, VA. These meetings are an essential opportunity for our highly professional management and sales teams to review the successes and challenges of the past year and make plans for the upcoming one. They also provide a chance for colleagues to connect and build relationships, as they did on a relaxing cruise of the Norfolk Harbor aboard the American Rover.

We look forward to seeing what the upcoming year holds in store for the CVI team as we continue to bring outstanding compliance and logistics services to our customers and industry partners.


CVI’s Rachel Shames to present at VMA Symposium

We’re excited to announce that the CV International team will be attending the Virginia Maritime Association‘s VMA23 International Trade Symposium from October 4-6 in our company’s hometown of Norfolk, Virginia. This annual event is the East Coast’s premier conference for shipping, ports, logistics, and trade, and we’re looking forward to networking with clients, partners, and other industry leaders while learning about the latest in port operations and cargo logistics.

We’re also proud to share that CVI’s VP of Pricing and Procurement, Rachel Shames, will be joining the Symposium’s panel to discuss this year’s theme: “Unlocking the challenges of detention and demurrage.” Discussion topics will include the state of detention and demurrage post-pandemic, the changes since the Ocean Shipping Reform Act, the expected implications of the Federal Maritime Commission‘s forthcoming rule, and what areas remain ripe for improvement.

If you plan on attending this year’s event, we look forward to seeing you there!


A day at the ballpark with CVI’s Atlanta team

July is the perfect time perfect time to get out and enjoy a baseball game, which is precisely what CVI’s Atlanta office did while our CEO, Michael Coleman, was in town! After a team lunch, the team headed to Truist Park to cheer on the Braves in their 10-7 victory over the Milwaukee Brewers.

At CVI, we believe in working hard and having fun. We look forward to the next opportunity to bring our team together and keep building the relationships that make CVI a great company to work for.


CVI’s Sam McClure and Casey Murphy attend 2023 NBFAA Government Affairs Conference in Washington, DC

Sam McClure and Casey MurphyCV International‘s Director and Assistant Director of Compliance & Customs Services, are wrapping up a busy week on Capitol Hill. They attended the 2023 National Customs Brokers & Forwarders Association of America, Inc. Government Affairs Conference in Washington, DC, where they participated in discussions on current trade legislation and met individually with several members of Congress or their staffs.

On Monday, the NCBFAA Customs Committee met with U.S. Customs and Border Protection to address concerns and hear their feedback on current and future procedures and regulations. On Wednesday, the committee discussed future plans for customs and trade facilitation, as well as issues and applications related to the USDA Animal and Plant Health Inspection Service (APHIS), pesticides and pesticide devices under the US Environmental Protection Agency (EPA)Transportation Security Administration (TSA), and USDA-Agricultural Marketing Service National Organic Program.

We at CVI appreciate the opportunity to be a voice for our industry, and our team of experienced and professional customs brokers will continue to advocate for policies that will benefit our clients, partners, and the customs and compliance professional community.


CVI visits Daedong USA Inc. to share knowledge and explore cool tools

At CV International, we love spending time with our clients and partners in the field to see how they operate while also being able to add value to their operations through sharing our global logistics and customs compliance knowledge. Recently, Vinny Di Costanzo, Branch Manager, and Sam McClure, Director of Compliance & Customs Services, did this by presenting to the team at Daedong USA Inc. (KIOTI Tractor) on “the principles of Classification” tailored to the products they import. Classification, trade agreements, additional tariff programs, and other Customs issues were included. Daedong’s team asked some great questions, and we think they gained valuable insights from the session.

Afterward, Sam and Vinny were treated to a tour of Daedong’s expanded facility in Wendell, NC, where they saw tractors, loaders, mowers, and UTVs. They look like kids in a candy store but with bigger toys and more horsepower!


Discover Our Difference!
Now Hiring: Regional Sales Manager / Midwest

CVI’s Sales Team is expanding in the Midwest region market, and we’re looking for the perfect new team member that shares our commitment to providing personalized international logistics and shipping solutions through a values-based culture of service excellence. Our Regional Sales Managers are global logistics thought leaders with a passion for helping customers achieve efficiencies in international transportation and customs compliance matters. At CVI, our team makes the difference, and you’ll be part of an all-star group and fulfilling company culture where you can thrive and take your freight forwarding sales skills to the next level. Sound like a good fit? Then we want to hear from you!

Click here for more information about this role.


We want to hear from you! Our customer experience survey is on the way

We’re excited to announce that our customer experience survey will be launching soon! Look for it in your email inbox within the next few weeks. Your feedback is essential to us, so please take a few minutes to share your thoughts and help us make our customer service experience even better.

At CVI, our purpose is to deliver personalized international logistics and shipping solutions through a values-based culture of service excellence. We are proud of our professional team of logistics and customs compliance experts who go above and beyond daily to make our purpose a reality. CVI is dedicated to providing an exceptional customer experience to our clients and is inspired to improve continuously.

Last year’s survey results were overwhelmingly positive, and we’re grateful for your participation. We received high marks in areas such as overall experience, communication, and responsiveness. We’ve made some great improvements to our customer service team since last year, but we always strive to improve further. Your feedback will help us ensure we meet your needs and exceed your expectations.


CVI’s LinkedIn Insights Series: Key Performance Indicators

CV International recently presented its first-ever multi-post learning series on LinkedIn. Our inaugural series focused on the key performance indicators (KPIs) that CVI uses to enhance your business. We understand that managing your supply chain is complex, which is why we aggregate detailed global logistics and customs compliance information that allows you to make better decisions.

We feature such KPIs at our quarterly business reviews (QBRs), along with value-added insight, recommendations, and cost-saving measures from our subject matter experts, which help our customers improve their efficiency. By validating their metrics, we engage clients with critical feedback on how they can enhance operations and improve their performance. CVI closely collaborates with clients during the QBR process to help them create a more agile and responsive supply chain to achieve their business goals.

You can view our posts by clicking on the links below, and if you haven’t already, be sure to follow us on LinkedIn!


CVI’s 2023 Summer Intern Spotlight: Patrick Sullivan

As summer winds down and students return to classes and campuses everywhere, we at CV International would like to take a moment to put a spotlight on our summer intern, Patrick Sullivan, who is beginning his senior year as a Supply Chain Management student at Appalachian State University in Boone, NC.

The CVI Charlotte office was fortunate to have Patrick join our team this summer, where he worked on several important projects, including researching high-potential industry verticals and contributing to various marketing functions. He even had the opportunity to spend time with a few customers alongside our Director of European Business Development, Bernd Losskarn.

The CVI team would like to thank Patrick for a job well done and wish him success in his upcoming senior year at Appalachian State. Go Mountaineers!

CVI is excited to participate in Appalachian State’s career fair on October 5th with an eye towards the next generation of logistics and supply chain talent.



Capes Shipping Agencies to represent DEME Offshore in Coastal Virginia Offshore Wind (CVOW) Project

Capes Shipping Agencies is excited to announce that we will be representing DEME Group in Virginia during the construction of Dominion Energy‘s Coastal Virginia Offshore Wind (CVOW) project! The 2.6-gigawatt project, consisting of 176 wind turbines located 27 miles off the coast of Virginia Beach, will be the largest of its kind in the country.

Our President & CEO, Michael Coleman, said: “We are very excited to be partnering with DEME Offshore US as their agent for the CVOW project. We were fortunate to have had experience in the early stages of the CVOW project and with the geophysical survey ships that were working off our coast. We look forward to putting our experience and local knowledge to work for DEME Offshore US.”

Read the full press release here.


Hampton Roads Coal Association Spring Reception & Golf Outing

Some of our Norfolk team hit the road and headed up to Baltimore last week for a few industry events and some team building. We started off at a joint golf outing for the Hampton Roads Coal Association and New York Coal Trade Association followed by catching the Baltimore Orioles host the Houston Astros. The following day we hosted customers and local port partners at the Propeller Club of Baltimore’s Annual Crab Feast.

Relationships are what drive Capes Shipping Agencies, and we never waste an opportunity to make new connections and foster old ones.


 

 

Industry News


News Updates

Flexport’s bumpy evolution shows, ultimately, people and relationships matter (JOC)
If there is one takeaway that stands out from the abrupt leadership change at Flexport, it’s this: The new philosophy articulated by reinstated CEO Ryan Petersen has come a long way from the early swashbuckling days a decade ago when the “digital forwarder” was going to “disrupt” an old legacy industry through the power of technology. Read more…

First green shipping corridor will connect Shanghai with Southern California (JOC)
The ports of Los Angeles, Long Beach and Shanghai have announced the creation of the first-ever green shipping corridor designed to accelerate emissions reductions at three of the world’s largest container ports and from vessels in transit from China to Southern California. Read more…

More trans-Pac service cuts on tap for October as carriers seek to buoy rates (JOC)
THE Alliance’s suspension of a trans-Pacific service next month adds to the raft of canceled sailings and other service changes that ocean carriers have planned now through well into October as they attempt to better balance ship supply with import demand. Read more…

Panama Canal draft restrictions offer sustained challenge for carriers (JOC)
The prospect of draft limitations being extended well into next year on the largest ships able to transit the Panama Canal has ocean carriers privately questioning the long-term viability of a waterway that still handles the majority of containerized cargo from China and other North Asia countries into the North American East Coast. Read more…

For exporters, container shipping still far from pre-COVID ‘normal’ (Freightwaves)
Container rates for U.S. imports have normalized. Rates for America’s exports have not. Both spot and contract rates for U.S. exports are still up double digits from pre-COVID levels. Read more…

Targeted replenishment thins US inventories without raising freight demand (JOC)
US retailers are running down over-inflated inventories, but that won’t necessarily jump-start a depressed freight shipping market. Rather than rushing to replenish inventories, those retailers appear focused on having the right amount of inventory on hand. Read more…

Key supply chain stakeholders commit to electronic bills of lading (JOC)
An alliance of supply chain industry associations has launched the “declaration of the electronic Bill of Lading” (eBL), adding their global support to the world’s carriers that have already committed to the digitalization of international trade. Read more…


 

New Team Members: Welcome to CVI and Capes Shipping!

Izabela Paloka, CVI, Account Executive, Tampa, FL
Izabela was born in Bedford, NY, and has a 3-year-old Australian Shepherd named Millie. She enjoys spending time with friends & family, boating, traveling, walking/hiking with Millie, gardening, and cheering on the Tampa Bay Lightning. Her bucket list includes hiking the National Parks, seeing The Northern Lights, learning a new language, and visiting all seven continents.

 

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www.cvinternational.com

This e-newsletter is intended to be used for informational purposes only. CV International undertakes every effort to ensure the accuracy of the information contained herein, but assumes no liability for any errors or omissions. Contributed articles and hyperlinks to external websites are included for information only and do not constitute endorsement of the contributor or the content.

Copyright © 2023 CV International, Inc., All rights reserved.

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