Here are some key points: At the height of the COVID-19 pandemic shippers were in desperate need of containers. Now, some ports have seen a decline in bookings and have a container surplus. Most news outlets report that this is due to a decrease in demand but the data points to things returning to pre-pandemic levels. US Retail Sales point to stronger consumer spending in … Read More
Latest Imposed GRI for FedEx marks history
Thursday, September 22nd FedEx Corp announced a 6.9% general rate increase (GRI) to be imposed starting 2023. This GRI marks the largest percentage of increase year-over-year in the company’s history. All services will be affected by the GRI, except for the LTL, or less-than-truckload service, FedEx Freight, which could fluctuate between 6.9% and 7.9%, according to the customer’s scale. On average, FedEx’s annual tariff rates … Read More
New Incentives for Farmers Exporting from West Coast
Amongst rising shipping inflation costs, the USDA is placing incentives for Farmers in the United States to export their agricultural shipments when using the Port of Oakland or Nothwest Seapport Alliance, to rouse dropping export volumes in the US. For every container of farm goods or general agriculture commodities, all agriculture shippers will be given $200. For any said shippers using refrigerated containers, they will … Read More
Biden Administration Pushes for Inflation Reform in Shipping
Change is coming! The Biden Administration is cracking down on consumer price inflation for shipping costs, which has hit a 40-year-high, by calling for change, accountability, and investigations. President Joe Biden recently held a speech at the Port of Los Angeles and called out and issued a warning last Friday to the top nine ocean carriers, citing “The rip-off is over”. The Biden Administration is … Read More
Los Angeles Port holding strong among Shanghai lockdowns
The Port of Los Angeles, as of May 6th is still holding firm, not showing any reported impacts from the COVID-19 lockdowns in Shanghai, China. According to Director Gene Seroka, There has been “no dramatic change” in the number of vessels leaving China, as vessel numbers bound for the San Pedro Bay remain “pretty consistent,” Seroka said. The number of ships departing Asia on Friday … Read More
Supply chain crisis is not over and could last until 2023
Is it the longest congestion ever? Maybe. Great news for one side of the industry and bad news for the other. With container freight rates and port congestion in the worst position compared to 2020 and 2021, the situation doesn´t expect to change until next year, 2023.
“The Great Resignation” and Its Impacts on Supply Chain
By: Grace Cronin What is the Great Resignation? A term recently coined to describe the phenomenon of large groups of people, mainly in the U.S., quitting their jobs during the COVID-19 pandemic. Unfortunately, the supply chain industry is not immune from this phenomenon, and many fear it only adds to the current Supply Chain Crisis.
Strange weather represents a huge risk for cargoes: TT Club
The recent state of emergency declared in Vancouver put climate change back in focus, forcing corporations to seriously reconsider their current cargo insurance strategies. Extreme weather such as rainfall, tidal surges, and wind microbursts are becoming more common, and the supply chain sector should start preparing.
“Ports of Florida can save Christmas”: Governor Ron DeSantis
Christmas time is coming, and the current US ports congestion is one of the biggest concerns. With many vessels waiting to offload their cargo, the goods may arrive too late, even after the holidays.
Biden works to prevent the next major supply chain crisis
On November Fifteenth, President Joe Biden signed into effect the massive $284 Billion Infrastructure and Jobs Act (IIJA) aimed at modernizing the country’s antiquated infrastructure.