The 357 Company
357 Hemp boosts complimentary hemp cargo insurance coverage from $50,000 per shipment to $75,000
357 Hemp Logistics adds international shipping and expands capacity to serve the growing industrial hemp segment
CHICAGO AND NASHVILLE, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Kevin Schultz, Co-founder and President of 357 Hemp Logistics (357), will be a featured speaker at the Southern Hemp Expo on August 19, 3:40 pm CT in Nashville, Tenn. Schultz’s session, titled “Keep on Truckin’ – How to Avoid Costly Mistakes Transporting Hemp,” will address the complexities of interstate hemp transport amid a patchwork of differing state regulations that can play havoc with suppliers, carriers, processors, and retailers despite federal hemp legalization. As costs of fuel and shipping have spiked, Schultz emphasizes now more than ever, that logistics count and will provide tips for saving cost and time on shipping.
“Shipping hemp is far more complex and regulated than most other cargo,” Schultz stated. “I’m looking forward to sharing insight on steps customers can take to prevent the costly and potentially traumatic results that can occur when companies wing it on transportation.”
The Hemp Alliance of Tennessee (HAT) recently appointed Schultz to its Board of Directors as it seeks to provide the broadest spectrum of resources to hemp companies.
“Kevin’s supply chain and logistics knowledge will be a valuable contribution to the Hemp Alliance Board’s efforts to make Tennessee #1 for hemp operators,” Fred Cawthon, President of Hemp Alliance of Tennessee, noted.
“I am proud to support the Hemp Alliance’s mission to build Tennessee’s hemp industry centered on ethics and education,” Schultz commented. “At 357, we believe the hemp industry will grow faster and stronger when industry veterans share their collective knowledge and experience.”
$75K Complimentary Shipping Insurance
Most hemp companies don’t realize that their carrier’s cargo insurance policies do not cover hemp until they have an incident and try to collect. 357 Hemp Logistics leaves nothing to chance. It is the first – and only – logistics company in the industry to include complimentary hemp cargo insurance on its clients’ hemp shipments. With rising prices, 357 is boosting the insurance from $50,000 to $75,000 of declared value for each shipment starting immediately.
“We go the extra mile to insure your precious cargo and ensure that you can track your entire shipment 24/7 from origin to arriving safely at its destination -- on time and within budget,” JP Mendoza, 357 VP of Operational Excellence, said. “It’s just one more way we provide peace of mind and added value.”
357 Hemp Growth Opportunities
Growing stronger throughout the pandemic, 357 Hemp Logistics has been steadily improving its technology and expanding its customer base to serve almost every type of legal hemp product.
“Initially our focus was on domestic shipping of biomass, oils, concentrates, and finished CBD products, such as vapes, tinctures and topicals,” stated Brandon Goehl, 357 Chief Strategy Officer and Co-Founder. “However, the U.S. hemp market is undergoing a significant shift to a wider variety of hemp fiber products. We are already seeing that in the cargo we are shipping. Technology plays a major role in minimizing costs and travel time, while ensuring cargo security. In addition to real-time tracking and data analysis, we are utilizing dynamic, load leveling optimization, and we have expanded our network of carriers to support the increased industrial hemp demand domestically, as well as adding international capabilities as we prepare for continued growth.”
Grand View Research’s hemp industry report highlighted the following projections and stats:
The U.S. industrial hemp market is projected to increase at a compound annual growth rate (CAGR) of 20% from 2022 to 2030.
Demand is rising for hemp seed and hemp seed oils for dietary items, cosmetics, and personal care due to their high nutritional values and beneficial fatty acids and proteins.
The fibers segment dominated the global market in 2021 and is expected to retain that dominant position through 2030.
Hemp fibers are used in paper, carpeting, home furnishing, construction materials, insulation, auto parts, and composites. Hemp fiber’s high absorbency makes it particularly suited for animal bedding, oil & gas spill clean-up.
Hemp fibers allow for more eco-friendly, renewable production, as well as safer manufacturing with fewer chemicals for products such as paper, textiles, and building materials.
Hemp fibers often provide the added value of favorable acoustic and aesthetic properties, superior strength, low weight, biodegradability, and thermodynamic properties.
“With the looming climate crisis, demand is booming for renewable and eco-friendly products to replace traditional products,” Goehl noted. “Hemp is a viable, cost-efficient option for many products. Hemp currently makes up a small proportion of the U.S. textiles, animal bedding, paper and building materials market, so we see this as a challenge wrapped around an opportunity that we can’t wait to unwrap. 357 Hemp Logistics has the specialized expertise to ensure regulatory compliance of hemp shipments at all stages in the supply chain from seed to final sale, while providing competitive pricing and unsurpassed reliability and service.”
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About The 357 Company
The 357 Company is setting the standard of excellence for logistics and supply chain management, centered around compliant standard operating procedures and dedication to unparalleled customer service and business ethics. Headquartered in Illinois, 357’s leadership team collectively has 50+ years of transportation, logistics, medical device, and supply chain management experience, in addition to developing operational processes and procedures for some of the largest brands in the restaurant home delivery and highly regulated medical cannabis industries, including Grubhub, Verano, and PharmaCann. For more information on 357, its subsidiaries 357 Kerbsyde, 357 Logistics, 357 Hemp Logistics and 357 Marketplace, and the logistics industry, visit www.357Company.com and follow 357 on social media: Facebook, Instagram, and LinkedIn.
EDITORS NOTE: Photos of loading hemp products for shipment are available upon request.