AEB launches campaign ahead of US Export Control Reform
· AEB International launches campaign to tackle effects of US Export Control Reform
· US Department of State bringing in new export control rules
· AEB hosts 4th Annual Compliance Conference on October 22, 2013 in partnership with Chartered Institute of Logistics and Transport
· AEB is sponsor and exhibitor at 26th Annual Global Trade Controls Conference, November 5 and 6 at at the Royal Garden Hotel in London
A leading provider of supply chain management and global trade solutions is launching a comprehensive global trade compliance campaign featuring events, new white papers and awareness literature ahead of the Obama Administration’s upcoming Export Control Reform (ECR) changes.
AEB International Ltd is launching its Global Trade Compliance Campaign ahead of US Export Control Reform, aimed at guiding UK businesses through these changes and helping them understand how it is affecting their global trade compliance processes
The US Department of State's Directorate of Defense Trade Controls (DDTC) and the U.S. Department of Commerce's Bureau of Industry and Security (BIS) have now finalised the first two sets of rules, redefining how the US Government protects sensitive technologies and regulates exports of munitions and commercial items with military applications.
The first set of rules will take effect on October 15, 2013, while the second set was issued in July and will take effect on January 6, 2014. How these changes affect companies outside the US and what they are required to do are crucial and urgent questions for British businesses.
To help them understand the impact of the new rules, AEB is launching various export controls initiatives to raise awareness and educate companies about compliance obligations.
Amongst AEB’s compliance initiatives is the sponsorship of the 26th Annual Global Trade Controls (GTC) Conference, organised by IBC Global Conferences.
This essential industry event for global export control compliance will take place on November 5 and 6 at the Royal Garden Hotel in London, with pre- and post-conference workshops about “Export licensing and trade controls” and “Understanding defence trade controls” on November 4 and 7, respectively.
On this occasion, participants can network with government officials and peers in the areas of export controls and compliance, and will also have the opportunity to take part in three problem-solving clinics about due diligence and export controls, developing a technology control plan, and privacy laws and screening.
AEB Ltd is an official sponsor of the GTC conference and will be showcasing its end-to-end global trade management solution portfolio, including restricted-party screening, export control, license management, dual-use goods, critical end-use goods and country embargoes. During the conference, AEB will also promote the latest awareness literature on US export controls, including the latest changes to U.S. EAR (Export Administration Regulation) and ITAR (International Traffic & Arms Regulations).
This topic will also be addressed on November 5 as part of the GTC first day programme: at 2pm, via video link, Hon Eric L. Hirschhorn, Under Secretary, Bureau of Industry and Security, U.S. Department of Commerce, will be presenting the key note address titled “Export Control Reform: Preparation for Change”, addressing the resulting challenges and obligations for UK businesses.
AEB’s General Manager Claire Umney said: “We are proud to be sponsoring the 26th IBC Global Trade Controls Conference, as it is the leading industry event for global trade compliance professionals and export controls experts.
“With the upcoming export control reform, it’s crucial for UK companies handling US controlled items or data to understand US re-export controls and re-transfer rules, and how US export controls differ from national controls.
“We are looking forward to discussing the latest changes and requirements with UK businesses at the event, and to demonstrating how our ASSIST4 solution suite can help them to best manage current and upcoming compliance obligations to their advantage.”
The conference takes place at the Royal Garden Hotel in Kensington, 2-24 Kensington High Street, London W8 4PT..
AEB is also inviting supply chain professionals to attend its 4th Annual Compliance Conference, which takes place on Tuesday, October 22, 2013, at the Mallory Court Hotel in Leamington Spa, Warwickshire.
Organised in partnership with the Chartered Institute of Logistics and Transport, CILT(UK), this essential industry event brings together compliance experts from government, global trade consultants and key industry players.
To register for the November conference, visit http://www.informaglobalevents.com/FKT2573AEBWB
Visit www.aeb-international.co.uk for more.
UPS Posts Record Second Quarter with Revenues of $23.4bn
Growth across each of its core segments resulted in record results for UPS in the second quarter, with group revenues climbing 14.5% year on year to $23.4bn.
The global logistics outfit achieved consolidated operating profit of $3.3bn, up 47.3% compared to the same period in 2020. It is the second consecutive quarter of record profit, and a significant rise on Q1’s $2.9bn.
UPS Q2 Revenues in Brief
- Consolidated revenues: $23.4bn (+14.5% yoy)
- Domestic: $14.4bn (+10.2%)
- International: $4.82bn (+30%)
- Supply Chain Solutions: $4.2bn (+14.3%)
The US company’s domestic segment performed steadily with 10.2% revenue growth to $14.4bn. But it was its international and supply chain solutions segments where UPS saw the biggest gains. Strong demand in Europe led an increase in international revenues of 30% to $4.82bn. UPS’ supply chain solutions division saw revenue growth of 14.3% to $4.2bn, driven, the company said, “by strong demand in nearly all businesses”.
UPS’ steady growth throughout the pandemic has been led by the overarching vision of its chief executive Carol Tomé to do “better not bigger”, focussing on efficiency and high margin deliveries through its network over pure scale and volume.
“I want to thank all UPSers for executing our strategy and delivering high service levels, which fuelled record financial results in the second quarter,” she said. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”
UPS Completes Sales of UPS Freight
The second quarter also saw UPS complete the divestiture of UPS Freight in a deal worth $800m - with a surprise result for the division, now called TForce Freight, under new owner TFI International.
“The second quarter was historically significant for TFI International, with the closing of our UPS Freight acquisition and record performance across the board,” said Alain Bédard, chairman, President and Chief Executive Officer, TFI International. “Particularly gratifying is the performance of TForce Freight, which has exceeded our operating ratio targets far ahead of schedule, and we have only just begun our work.”
In it first two months of ownership TFI reported that adjusted operating ratio (OR) was 90.1% for TForce Freight, far outperforming its forecasted OR of 96-97%.
“I wish to thank our entire team for their hard work and remarkable efforts, and officially welcome aboard our new TForce Freight colleagues who have seamlessly come under the TFI umbrella and are already making stronger than expected contributions,” Bédard added.