In the early hours of Tuesday, the Baltimore community was struck by a harrowing event as the Francis Scott Key Bridge, a vital artery for the region, experienced a catastrophic collapse following a collision with the DALI, a Singaporean-flagged container vessel. This incident has since triggered a massive search and rescue operation, involved numerous agencies, and showcased a city united in the face of adversity. … Read More
Jinna Sanchez
Major Carriers Announce Significant General Rate Increase for February
Commencing February 1st, 2024, the shipping industry is poised for a notable shift as major carriers announce a General Rate Increase (GRI) on ocean freight, with Transpacific FEU cost set to rise well above the five-thousand-dollar mark. This development holds implications for global supply chains, businesses, and consumers, emphasizing the interconnectedness of the world’s economies. Understanding GRI in Ocean Freight A General Rate Increase (GRI) … Read More
Drought, Declining Transits at Panama Canal
The Panama Canal, a crucial artery for global trade, is facing a squeeze. While container ships are finding a silver lining, the overall number of transits is plummeting, and climate change sits at the heart of the issue. Let’s dive into the current situation and explore what it means for the global economy. Droughts Bite, Traffic Drops Water Woes: The main culprit is a severe … Read More
Turbulent Waters: The Red Sea’s Impact on Global Logistics
The global logistics sector is grappling with significant challenges due to recent upheavals in the Red Sea region. Carriers, attempting to steer clear of attacks by Iran-backed Houthi militants in Yemen, have redirected over $200 billion in trade away from this vital maritime corridor, a move reported by NBC. This strategic shift in shipping routes is having far-reaching effects on international trade. Compounding this situation … Read More
How to Be Prepared for Chinese Golden Week
As the Chinese Golden Week in February approaches, businesses and supply chain managers around the world brace for the impact of this significant holiday period. With factories closing and the pace of business slowing down in one of the world’s largest manufacturing hubs, preparing effectively is crucial to mitigate disruptions and capitalize on opportunities. Here’s how companies, guided by the expertise of Global Logistical Connections … Read More