ocean cargo

Capacity crunch continues — Midday Market Update

On this episode of Midday Market Update, Kaylee Nix and Michael Vincent dive into the aspects of freight that have not cooled off so far in Q2. 

In headlines, they discuss an update to Forward Air’s final-mile strategy, a lawsuit over independent worker employment freedom and how President Biden’s demands for freight capacity may go unfulfilled.  

FreightWaves Market Expert Zach Strickland answers some tough questions about the elevated tender rejection rates and whether they will ever come down....

https://s29755.pcdn.co/news/capacity-crunch-continues-midday-market-update

Shipping Demand Stays Strong Amid Tight Sea Cargo Market

According to Hapag-Lloyd CEO, a robust demand for shipping goods across the world’s oceans shows no signs of slowing down signaling that elevated rates in the tight market for seaborne cargo may extend into the second half of the year, Bloomberg Quint reports.

Surging demand amid strong bookings

Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said “Last week and this week we’ve still seen very strong bookings,” on a conference call April 8. “So I don’t see any signs around the corner than demand is...

https://mfame.guru/shipping-demand-stays-strong-amid-tight-sea-cargo-market/

Port gridlock could blow up Fourth of July fireworks sales

Ocean container vessel and port terminals.

Fireworks distributors are warning that consumers may not get their sparklers, bottle rockets, firecrackers and Roman candles in time to celebrate the Fourth of July because of container shipping backlogs that are choking U.S. ports. 

The National Fireworks Association on Wednesday asked Transportation Secretary Pete Buttigieg to intervene and return the system to pre-COVID levels. “If this is not done within the next few weeks, we fear that this year’s fireworks season will never take place,”...

https://s29755.pcdn.co/news/port-gridlock-could-blow-up-fourth-of-july-fireworks-sales

Cargo Demand Rose As Maersk Rolls Out 1 in 3 Shipments

According to a Supply Chain Dive article written by Matt Leonard cargo rollovers have risen just in time for Maersk new rolls. 

  • The rate of rolled cargo at transshipment ports increased in October to nearly 29%, up from almost 27% in September and more than 22% in October 2019, according to figures in an emailed release from Ocean Insights, a company that tracks containers.
  • MSC’s rollover ratio increased to nearly 23% in October from more than 16% in September, while Maersk’s ratio rose to more...

https://mfame.guru/cargo-demand-rose-as-maersk-rolls-out-1-in-3-shipments/

Commentary: When is a carrier price gouging?

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.  

There is a lot of talk about the recently soaring spot rates in trans-Pacific container trade. Year-over-year increases of 70% and higher are hard to ignore, especially in the middle of a pandemic – a time when many are working desperately to keep supply chains intact. Shipper associations may become even more concerned given the degree of consolidation among...

https://s29755.pcdn.co/news/commentary-when-is-a-carrier-price-gouging

Commentary: COVID-19 severely impacts the ‘Blue Economy’

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

Since the beginnings of COVID-19, the political rhetoric masking the severity and economic impact of the virus has piled up to levels we have not seen since the U.S.-China trade war. Just as the flow of trade refuted the trade war promises and winning declarations, the same can be applied to the impact and ruthlessness of C-19.

A cargo ship being unloaded at...

https://s29755.pcdn.co/news/commentary-covid-19-severely-impacts-the-blue-economy

Flexport goes deeper with personalized experiences for importers, exporters

Flexport, the San Francisco-based digital freight forwarder, rolled out an array of platform upgrades to its global customer base of about 10,000 shippers Thursday.

The changes to the Flexport’s platform create more flexibility in the user experience. Large importers, small importers and exporters now have preconfigured dashboards available — more on that later — that are customizable by drag and drop and Flexport’s platform has been completely optimized for mobile devices.

“Why I think this is...

https://s29755.pcdn.co/news/flexport-goes-deeper-with-personalized-experiences-for-importers-exporters

FMC: Mitigating Covid-19 impacts on supply chain

The containership CMA CGM John Adams inbound to Savannah, Ga., with the tugs Cooper Moran (left) and Laura K Moran. Kirk Moore photo.

Ocean carriers, marine terminal operators, and port authorities that participate on Federal Maritime Commission’s Supply Chain Innovation Teams established by Commissioner Rebecca Dye as part of her Fact Finding 29 investigation are taking positive steps to address Covid-19-related impacts to the supply chain as well as to prepare for the return of stronger ocean cargo volumes.

An early finding of the Innovation Teams is that marine terminal operators (MTOs) will be better able to manage cargo...

https://www.workboat.com/news/bluewater/fmc-mitigating-covid-19-impacts-on-supply-chain/

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