Committed to Being the Best	SUMMER 2004

FOREIGN INSIGHT by Del Brahm

Some time ago we reported an anticipated new ocean service between Philadelphia and Le Havre in France. It was to cut the transit time for ocean freight approximately in half, and cut the cost considerably compared to airfreight. The name of the service is "FASTSHIP" and updated information about them has been sketchy. In the September, 2004 issue of WORLD WIDE SHIPPING, they reported that Fastship has contracted with a company in Spain to build three ships for this service. The ships should be 870 feet long and have a top speed of 40 knots. They are still working with the port of Philadelphia, but they have switched the French port from Le Havre to Cherbourg. They are bragging about a seven day transit between Chicago and Frankfurt, with a port to port transit time of 100 hours and a turnaround time of six hours. The service is now expected to begin in 2008. Stay tuned for developments. If you do a lot of foreign traveling, or if you conduct business in foreign countries, it is very important for you to know times when your client or vendor is not available due to holidays or other events. We are told that website www.datedex.com is one of the most complete with information you will find useful. In the last issue of NOIBN we reported on seals for "smart containers." In an earlier issue we reported on Customs-Trade Partnership Against Terrorism (C-TPAT) and other security and anti-terrorism topics. I'm sure you've seen numerous articles on these subjects elsewhere. Please don't think that all this rhetoric simply means there is a lot of discussion about these topics. International traders who err in any aspect of these regulations can expect to receive huge financial penalties and/or substantial freight delays. Ask questions! Complete your CYA process by keeping good notes and files about your shipments. In a recent FOREIGN INSIGHT article we discussed the Bioterrorism Act and its impact on the shipment of food and food related articles. In another recent article on the same topic, the writer suggested that the buyer and seller should be sure that their intermediary has Errors and Omissions (E&O) Insurance to cover losses due to failure to comply with these new regulations. We always wholeheartedly recommend that you verify that your intermediary has E&O coverage, but be sure to understand that the intermediary's E&O insurance covers errors that the intermediary makes, but the intermediary's E&O coverage does not cover errors made by the buyer or seller. To broaden your nautical knowledge: The 24 hour day at sea is broken down into seven watches. The Morning Watch runs from 4 a.m. to 8 a.m.