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MODE Global Appoints Seasoned Financial Executive, Max Slivka, as CFO

mode

MODE Global Appoints Seasoned Financial Executive, Max Slivka, as CFO

MODE Global, a prominent third-party logistics (3PL) firm, has exciting news to share as it welcomes Max Slivka as its latest Chief Financial Officer (CFO). Slivka brings over a decade of invaluable expertise in mergers and acquisitions, as well as debt and equity financings, along with a knack for orchestrating business transformations. His appointment is set to fortify MODE Global’s financial operations and bolster the company’s ambitious growth strategy.

CEO Lance Malesh expressed great enthusiasm about Slivka’s joining, stating, “We are delighted to have Max join our esteemed team at MODE Global. His comprehensive background in finance, coupled with his strategic acumen and strong leadership qualities, positions him as the perfect fit to spearhead our finance organization. We eagerly anticipate collaborating with Max as we forge ahead in extending our market presence and advancing our business goals.”

Slivka’s academic credentials include a bachelor’s degree in applied mathematics from Northwestern University. Prior to his tenure at MODE Global, he held noteworthy positions in private equity investing at York Capital Management and Pegasus Capital Advisors. Slivka’s professional journey commenced in the realm of investment banking at Citi, marking a robust foundation for his subsequent accomplishments.

This strategic appointment underlines MODE Global’s commitment to securing top-tier talent to drive its financial strategies forward. With Slivka at the financial helm, MODE Global is poised to navigate its growth trajectory with enhanced precision and agility.

port congestion import

Navigating the Waves: Examining the Looming Threat of Port Congestion

By Bryn Heimbeck, President and Co-Founder of Trade Tech, an industry-leading global logistics platform. He asks the question: Is it time to worry about port congestion again?

The following outlines Mr. Heimbeck’s position on why shippers and stakeholders throughout the supply chain should be looking for solutions to address the challenge of entering what he calls the “congestion zone” again.

According to Mr. Heimbeck, the White House’s announcement of the formation of the Council for Supply Chain Resilience is coming none too soon. There are a set of key facts facing the US Supply Chain Market today:

  • Carriers have an enormous number of new vessels on order and coming on line now.
  • New tonnage is driving freight rates down, although they seemed to plateau over the summer Peak Season.
  • The US Economy grew at an amazing 5.2% in the 3rd quarter according to Reuters and indications are for continued strong growth.
  • The low water issues in the Panama Canal has significantly reduced the number of vessels that can transit the canal and avoid the US West Coast ports.

“The pivotal point here is the level of container throughput in the ports. This was the bottleneck in 2020 – 2022 and will be the bottleneck again until capacity at the ports is enlarged either through capital development or process changes yielding greater efficiency.

The concern should be that October container volumes reached the same level where port congestion started in 2020. It is probably safe to project that November through February will have lower seasonal volumes but if March and beyond is normal and the economy continues to grow and carriers reroute vessels away from the Panama Canal, then we should anticipate port congestion is exactly the way we project traffic during rush hour in any large city. Congestion is just what happens when traffic volumes exceed a known point.

CALL TO ACTION

It’s time for the industry and the government to move forward quickly in discussing alternative ideas and concepts for process changes in cargo management. Focusing on these process changes stands a better chance of mitigating port congestion rather than waiting for several years to see capital projects implemented.

It’s time to look seriously at leveraging the data flowing to US Customs from the ocean carriers and NVOCCs as part of the 24 Hour Rule. This data includes all legal shipments, is standardized to meet US CBP’s requirements, is complete or otherwise rejected, and yields full accessible visibility that so many in the market have called for.

tech

Trade Tech Unveils Bold Rebranding: Pioneering Fully Digitalized Solutions in Global Logistics

Trade Tech, a globally recognized logistics platform, is set to make waves with its fresh brand identity, featuring a new logo and website that boldly declare, “We’re Different; We’re Digital.” This strategic rebranding underscores Trade Tech’s commitment to fully digitalized solutions in global logistics, setting it apart from competitors that offer partial digitalization.

According to Bryn Heimbeck, co-founder and president of Trade Tech, the future of globally accessible central platforms relies on full digitalization. Trade Tech aims to deliver on this promise by offering a unique combination of four essential components, marking a paradigm shift in global logistics management:

1. Powerful Global Platform:

Trade Tech operates on AWS, providing a single platform with the power, security, and redundancy to support massive-scale global trade.

2. Electronic Connectivity:

The platform is electronically connected to all carriers (Air, Ocean, Rail, Truck, Barge) and Customs Agencies globally, eliminating the need for data re-keying and facilitating real-time collaboration.

3. User-Friendly Interface:

Trade Tech boasts an easy-to-navigate interface accessible worldwide, enabling seamless collaboration among multiple parties with simultaneous visibility into shared data.

4. Global Supply Chain ERP:

Offering end-to-end connectivity, Trade Tech’s ERP links supply chain and logistics processes from Sales to Operations to Accounting, ensuring a comprehensive solution.

Heimbeck emphasized that the absence of any of these components compromises the benefits of full digitalization, leaving supply chains vulnerable to inefficiencies and errors. The rebranding signifies Trade Tech’s dedication to providing a holistic digital solution that fortifies supply chains against disruptions.

Founded over 25 years ago, Trade Tech has been at the forefront of cloud computing in the logistics industry. The reinvigorated brand identity and website serve as a platform to showcase Trade Tech’s digital foundation and leadership in global logistics management solutions. Businesses can rely on Trade Tech to enhance their supply chain processes and gain insights into how technology is reshaping logistics management.

Heimbeck concluded, “Our updated corporate branding aligns with our core values of innovation, collaboration, transparency, and accountability. For more than two decades, Trade Tech has been dedicated to perfecting the global shipment process through digitalization, marking a lasting legacy of customer-centric innovation excellence in cloud-based global logistics management solutions.”

ups

UPS Successfully Completes Acquisition of MNX Global Logistics, Enhancing Time-Critical Healthcare Services

UPS (NYSE: UPS) has officially wrapped up its acquisition of MNX Global Logistics (MNX), a renowned global provider of time-critical logistics. The acquisition, which received all necessary regulatory approvals, was finalized on November 2, 2023.

This strategic move to bring MNX under the UPS umbrella aims to bolster the company’s capabilities in time-critical logistics, with a particular focus on serving healthcare customers across the United States, Europe, and Asia. MNX is highly regarded for its consistent and punctual delivery of critical goods, and it has a well-established reputation for transporting radiopharmaceuticals and temperature-sensitive products. This expertise will play a pivotal role in aiding UPS Healthcare and its clinical trial logistics subsidiary, Marken, in meeting the ever-growing demand for these specialized services within the healthcare sector.

With the added knowledge and proficiency from MNX, UPS is poised to maintain its position as an industry leader in delivering global services to customers who require time-critical and temperature-sensitive logistics solutions. This acquisition underscores UPS’s ongoing commitment to invest in cutting-edge technologies and capabilities, ultimately ensuring that customers receive the most dependable and efficient logistics solutions available.

cargoai

CargoAi Revolutionizes Airfreight Services with CargoCoPilot Integration

CargoAi, a prominent player in the world of airfreight technology solutions, is proud to unveil a groundbreaking advancement in its service offerings. Today, we introduce CargoCoPilot, an innovative feature seamlessly integrated into our flagship platform, CargoMART. This remarkable solution leverages the power of artificial intelligence to enhance the efficiency and visibility of CargoMART for forwarders and airline/GSA users, further cementing our commitment to streamlining every aspect of the airfreight procurement process.

CargoCoPilot represents a significant step forward in our mission to “enhance every stage of the airfreight procurement process with efficiency and visibility.” Utilizing Large Language Models (LLMs), a category of artificial intelligence (AI) algorithms that harness deep learning techniques and extensive data sets to understand, summarize, predict, and generate content, CargoCoPilot offers real-time intelligent support, empowering users to boost their productivity and skills.

With CargoCoPilot, forwarder users can anticipate a suite of powerful features designed to optimize their operations:
• Outlook Integration: Our new Outlook plugin allows users to seamlessly access and search airline rates directly from their emails, exemplifying the user-friendly experience that CargoAi consistently strives to deliver.
• Customized Analytics: Forwarders can now access in-depth insights and data analytics within the CargoMART platform, providing businesses with valuable information for informed decision-making and operational optimization. These tailored analytics are also periodically shared with freight forwarder users to facilitate better procurement decisions.
• Also available on CargoMART Airline, CargoCoPilot assists Airlines and GSA in offering customized insights for responding to Spot Quote requests.

CargoCoPilot has been accessible to Forwarders and Airline CargoMART Pro users since early October, and it can also be accessed via API on CargoCONNECT, offering increased accessibility to our innovative solution.

Maturity Meets Innovation: Streamlined Single Sign-On (SSO) Integration and ISO 27001 Certification

In response to the feedback of our esteemed clients, CargoAi has introduced a seamless Single Sign-On (SSO) integration, a highly anticipated feature that enhances the user experience by enabling clients to access all CargoAi services with a single set of credentials. This eliminates the need for multiple logins and creates a unified user experience.

CargoAi proudly announces its attainment of ISO 27001 certification in August 2023. This achievement underscores our unwavering dedication to data security and compliance. ISO 27001 certification serves as validation of our commitment to safeguarding the sensitive information of our clients, ensuring that their data remains confidential and secure at all times.

These recent developments underscore CargoAi’s unique position in the industry. As a trusted leader with a mature and well-established presence, we continue to set new standards through innovation, ensuring that our clients benefit from the blend of our experience and trailblazing innovations.

port houston porto rule container conflict

Israeli-Palestinian Conflict Raises Concerns for Indian Exporters

The ongoing Israel-Palestine conflict may lead to increased insurance premiums and shipping costs for Indian exporters, raising concerns within the international trade community. While experts believe that the conflict is unlikely to significantly impact trade volumes, it could affect the profitability of domestic exporters, particularly if the conflict escalates further.

Over the weekend, Israel experienced an unexpected and unprecedented multifront attack by the Hamas militant group, which governs the Gaza Strip, involving air, land, and sea offensives in its southern regions.

Global Trade Research Initiative (GTRI), a think tank specializing in international trade, warned that Indian merchandise exporters might face higher insurance premiums and shipping expenses due to the conflict. They suggested that India’s Export Credit Guarantee Corporation (ECGC) might impose higher risk premiums on Indian firms engaged in exports to Israel. ECGC, wholly owned by the Indian government, was established in 1957 to promote exports by providing credit risk insurance and related services.

Sharad Kumar Saraf, the founder chairman of Technocraft Industries India, a Mumbai-based exporter, acknowledged that the conflict could have a short-term impact on Indian exporters. However, he expressed concerns that if the conflict were to escalate, it could worsen the situation for exporters in the region.

Ajay Srivastava, co-founder of GTRI, emphasized that the trade could face serious disruption if operations at Israel’s three largest ports—Haifa, Ashdod, and Eilat—were affected. These ports handle a wide range of shipments, including agricultural products, chemicals, electronics, machinery, and vehicles. Eilat port, situated on the Red Sea, serves as a significant gateway for India’s merchandise trade with Israel. Fortunately, there have been no reports of port disruptions so far. Srivastava noted that the real impact on trade would depend on the duration and intensity of the conflict.

In the fiscal year 2022-2023, India’s merchandise and services trade with Israel is estimated to reach USD 12 billion. Merchandise exports from India to Israel during this period amounted to USD 8.4 billion, with imports from Israel totaling USD 2.3 billion, resulting in a merchandise trade surplus of USD 6.1 billion. Key exports from India to Israel include diesel, polished diamonds, electronics, telecom components, potassium chloride, and herbicides. In addition to merchandise trade, both countries engage in extensive IT services trade, collaborate in agriculture, water technology, and renewable energy research, and are exploring a free trade agreement.

The article also highlighted the significant bilateral ties between India and Israel in tourism, medical innovation, and investments. Indian hospitals import medical equipment and technology from Israel, while Israeli firms invest in Indian healthcare startups. Both nations maintain a robust presence of businesses, including Sun Pharma, Tata Consultancy Services, Wipro, Tech Mahindra, State Bank of India, Larsen & Toubro, and Infosys in Israel. Israeli companies have also made substantial investments in India, particularly in renewable energy, real estate, water technologies, and research and development centers.

Between April 2000 and June 2023, Israeli companies have invested USD 286 million in India, highlighting the growing economic partnership between the two countries.

USA

Cargo-Partner USA Continues to Grow its Customs Team

With expertise in logistics and worldwide transport, cargo-partner is delighted to offer its export and import customs clearance services for shipments departing or arriving into the USA by road, air and sea. The company has now expanded its specialized customs team.

With four strategically located offices across the USA – Chicago, Los Angeles, New York and Clarksville – the cargo-partner team offers a comprehensive range of airfreight, seafreight and overland storage and transport services, as well as a dedicated customs and brokerage service from each office. 

The USA team are able to offer all customers in-house imports and export customs, including the preparation of paperwork, compliance checklists and the recording of transactions. They will guide customers, ensuring that all international guidelines and legal provisions are observed so that shipping transactions can be carried out smoothly. Additionally, the team is also multilingual which is an invaluable asset when managing shipments across the globe.

Licensed Customs Broker in the USA

A licensed customs broker is an individual or a company that is authorized by the U.S. Customs and Border Protection (CBP) to act on behalf of importers and exporters in matters related to customs clearance. Licensed customs brokers are responsible for preparing and submitting the necessary documentation, coordinating with customs officials, calculating duties and taxes, and facilitating the smooth movement of goods across international borders. To become a licensed customs broker in the USA, individuals must pass a rigorous examination administered by the CBP.

With over 200 employees specializing in customs clearance and brokerage, based across 160 offices and 40 countries, cargo-partner can provide tailored and personal customs and brokerage solutions to and from any location in the world.

Gebrüder weiss

Gebrüder Weiss USA: New Air & Sea Office Opened in Miami

Gebrüder Weiss is further expanding its presence in the USA, opening an air and sea freight office in Miami, Florida. Miami primarily handles imports from Asia for onward transport to South and Central America, as there are only a few direct routes from Asia. The new location is situated in the immediate vicinity of the international airport, one of the country’s busiest cargo handling facilities. The company currently employs six people in Miami. Headed by Marcin Gonzalez, the location is set to keep growing and become a gateway for transports to the Latin American markets.

Since the country organization was founded in 2017, Gebrüder Weiss has continuously expanded its network of locations and services in the USA. Today, in addition to air and sea freight services, the logistics provider also offers its customers national and international full load services, heavy transports and specific logistics solutions, with the portfolio ranging from goods warehousing and local distribution to e-commerce solutions.

Gebrüder Weiss operates a total of five warehouse locations in the USA and employs 130 people in Atlanta, Boston, Chicago, Dallas, El Paso, Los Angeles, New York, San Francisco – and now also in Miami.

 About Gebrüder Weiss

Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,400 employees at 180 company-owned locations. In the last fiscal year (2022), it posted annual sales of 3 billion euros. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

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Overhaul Secures $73M in Growth Financing, Expands its Foothold in Global Supply Chain Visibility, Risk and Compliance Market

Funding enhances Overhaul’s platform spanning visibility, risk, compliance, and insurance solutions to help safeguard cargo and improve efficiencies

Overhaul, a software-based supply-chain visibility, risk, compliance, and insurance solution for the world’s leading brands, today announced $73 million in new growth capital including $38 million in equity and $35 million in non-dilutive debt. Growth equity investor Edison Partners led the investment with participation from strategic investors eGateway Capital, StepStone Group, and TRM Ventures. Stifel Bank provided the debt financing.

Overhaul will deploy the capital to expand globally, enhance products, and fund the recent acquisition of security services provider SensiGuard—a deal that firmly establishes Overhaul as the global leader in in-transit supply chain risk management. Previous investors Abbey International Finance, Avanta Ventures and Macquarie Capital also participated in the round.

Overhaul is expected to track more than $1 trillion in total moving cargo this year. The company has a 96% recovery rate for FTL cargo theft and an 80% loss ratio reduction as compared to the insurance industry benchmark. Overhaul operates globally and has more than 600 employees.

Global supply chain disruptions and volatile markets are creating strong demand for solutions that can stop disruptions before they occur. Unlike providers that focus on on-time arrival performance, Overhaul’s visibility, risk management and prevention capabilities give companies a real-time view into their supply chain so they can manage risk more effectively and reduce losses while improving overall performance.

In 2022, Overhaul was recognized as an Austin Inno Top Workplace, Inc. 5000 Fastest-Growing Private Company, Deloitte Technology Fast 500, G2 Supply Chain Visibility Grid, and as a Challenger on the Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms.

shortage chain supply rose disruption identity

Rose Rocket’s Justin Bailie Named a Pro to Know by Supply and Demand Chain Executive

The recognition comes after a banner year of growth for the co-founder and the transportation management system software company

Rose Rocket, a market leader in cloud-enabled TMS software, today announces that Supply & Demand Chain Executive named Justin Bailie, Co-Founder, a Pro to Know in 2023. The magazine annually awards exemplary business leaders whose efforts have paved the way for other executives to expand on innovating the global supply chain.

As Co-Founder of Rose Rocket, Bailie and his team build modern enterprise-grade software that helps transportation companies improve communications with systems, customers, partners, and teams. A life-long entrepreneur and Y-Combinator alumnus, Bailie is recognized as a subject matter expert in the logistics industry through his extensive experience successfully building businesses, including a brokerage and consultancy firm.

Leading up to this recognition by Supply & Demand Chain Executive, Rose Rocket released its Challenges, Trends, and Technology: 2023 Outlook featuring proprietary research data, market data, and aggregate Rose Rocket TMS usage data to inform a comprehensive outlook on trucking industry trends. The report represents Bailie and Rose Rocket’s dedication to remaining at the forefront of actionable supply chain technology decision-making grounded in market conditions. In January 2022, Bailie started the popular Freight Famous podcast, which shines a light on the behind-the-scenes of the trucking industry and provides insights from guests who have been through it all.

For more information on how cloud-based TMS software can help expand your trucking business, visit www.roserocket.com and to view the full list of winners, visit https://sdce.me/4ss5cl.

About Supply Chain & Demand Executive

Supply & Demand Chain Executive is the only supply chain publication covering the entire global supply chain, focusing on trucking, warehousing, packaging, procurement, risk management, professional development, and more. Supply & Demand Chain Executive and sister publication Food Logistics are also home to L.I.N.K. and L.I.N.K. Educate podcast channels, L.I.N.K. Live, SCN Summit, SupplyChainLearningCenter.com, Women in Supply Chain Forum, and more.

About Rose Rocket

Rose Rocket is a leading provider of enterprise-grade transportation management software (TMS) for trucking companies and 3PLs. Its network-driven TMS allows trucking companies to leverage their network of drivers, customers, and partners to unlock visibility and capacity. Additional product offerings include an Industry-leading driver mobile app, customer and partner portal technology, and an open architecture that allows for native integrations, EDIs, APIs, and more.

With Rose Rocket, trucking companies and 3PLs add efficiency and automation at every step of the transport process, allowing for growth through network optimization. Rose Rocket operates in the United States and Canada, catering to carriers and brokerages that have LTL, FTL, hybrid, and multi-division service offerings. Rose Rocket is proudly headquartered in Toronto.