container imports

Unexpectedly strong import wave keeps rolling through peak season

Chart of the Week: US Customs Maritime TEUs, Import Ocean Bookings TEUs Index – USA SONAR: CSTEU.USA, IOTI.USA

Container volumes arriving from overseas at U.S. ports are averaging double-digit percentage growth since mid-July. Import bookings, which measure container volumes based on departure dates from the ports of origin, are signaling that growth will probably sustain through August. What are the takeaways from a strong maritime shipping peak season?

Economically speaking

One of the biggest...

https://www.freightwaves.com/news/unexpectedly-strong-import-wave-keeps-rolling-through-peak-season

What nearshoring?

Chart of the Week: Inbound Ocean TEUs Index – USA  SONAR: IOTI.USA

Bookings for 20-foot equivalent container imports (IOTI) are up 27% versus mid-June of 2019 and 11% over last year. With all the talk and expectations of nearshoring, goods coming from overseas are still flowing strong and having a noticeable impact on domestic transportation patterns. 

The IOTI is a 14-day moving average index of orders (bookings) of 20-foot equivalent containers (TEU) based on the time of departure from the port...

https://www.freightwaves.com/news/what-nearshoring

Is Mexico becoming the new China?

Chart of the Week: Import Ocean TEUs Index – China to Mexico, China to USA  SONAR: IOTI.CHNMEX, IOTI.CHNUSA

Import bookings have doubled from China to Mexico compared to the same period in 2019, with the bulk of the increase coming in the past year. By contrast, import bookings from China to the U.S. are up a still-impressive approximately 40%, but nothing like the Mexico figure. What does this mean for the U.S. freight market?

The Inbound Ocean TEUs Indices (IOTI) measure bookings of...

https://www.freightwaves.com/news/is-mexico-becoming-the-new-china

Red Sea cargo diversions could affect 2024 holiday shipping

The current spike in shipping costs caused by ocean carriers routing away from the conflict in the Middle East could seep into longer-term rates if the federal government waits too long to help mitigate potential backups at U.S. ports, according to retailers.

“While many are focusing on the current situation, more challenges will be created the longer these disruptions continue,” said Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, testifying...

https://www.freightwaves.com/news/red-sea-cargo-diversions-could-affect-2024-holiday-shipping

DOT’s freight data exchange processing 65% of US container imports

WASHINGTON — The Biden administration’s pick to head the first high-level cabinet office dedicated exclusively to freight is setting a high bar for the value her office will bring to the nation’s freight markets.

Deputy Assistant Secretary Allison Camden (Photo: U.S. DOT)

Allison Dane Camden will lead the U.S. Department of Transportation’s new Office of Multimodal Freight Infrastructure and Policy as the first deputy assistant secretary for the office. 

Camden brings to the office experience...

https://www.freightwaves.com/news/dots-freight-data-exchange-processing-65-of-us-container-imports

SONAR Sightings: Harrisburg, Pennsylvania, gains market share; flatbed rejections nose-dive

The highlights from Thursday’s SONAR reports are below. For more information on SONAR — the fastest freight-forecasting platform in the industry — or to request a demo, click here. Also, be sure to check out the latest SONAR update, TRAC — the freshest spot rate data in the industry.

Market Watch for Sept. 15:Harrisburg, Pennsylvania

Harrisburg, Pennsylvania, has experienced a boom in outbound volume to become the third-largest truckload market in the country by market share.

Outbound volumes are...

https://www.freightwaves.com/news/sonar-sightings-harrisburg-pennsylvania-gains-market-share-flatbed-rejections-nose-dive

FreightWaves Classics: Malcom McDowell’s containership begins first journey in 1956

Malcom McLean in the foreground with a Sea-Land container behind him. (Photo: Maersk)

On this date in 1956 the first commercially successful container ship began its maiden voyage on a route from New Jersey to Texas. The Ideal X and its 58 intermodal containers began a revolution in shipping that is still echoing around the world today.

Background

A McLean Trucking Company patch. (Photo: NC Historic Sites)A McLean Trucking Company patch. (Photo: NC Historic Sites)

Malcom P. McLean recognized the potential to haul motor freight when he was just a teenager. The native of Maxton, North Carolina, purchased his first truck in 1934 and began...

https://www.freightwaves.com/news/freightwaves-classics-malcom-mcdowells-containership-begins-first-journey-in-1956

Ukrainian conflict will lead to more supply chain woes

Chart of the Week: Inbound Ocean Shipments Index, Inbound Ocean TEUs Index – Russia to USA  SONAR: IOSI.RUSUSA, IOTI.RUSUSA

Russian import bookings declined 40% over the past week and will obviously fall further after growing ~64% in 2021 from the previous year, resulting in a 75% increase in goods by value, according to the Census Bureau. This put the imported goods value at its highest level since 2012. This direct economic hit will more than likely be dwarfed by the numerous indirect...

https://www.freightwaves.com/news/ukrainian-conflict-will-lead-to-more-supply-chain-woes

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