#oceanshipping

Ocean spot rates have likely peaked

Ocean spot rates have peaked, according to Maersk

Ocean spot rates from China to the U.S. West Coast are starting to look like a two-humped camel. (Chart: SONAR)

The reasons for an expected decline in spot rates from here include an easing in port congestion, expected seasonal declines in freight demand as the end of the year approaches and increases in ocean capacity, which is rising 2%-3% per quarter, according to Maersk. That said, ocean spot rates are still expected to remain at historically...

https://www.freightwaves.com/news/ocean-spot-rates-have-likely-peaked

Baltimore bridge collapse: Fourth victim recovered, FBI boards cargo ship

A fourth victim’s body has been recovered from the site of the Francis Scott Key Bridge collapse in the Patapsco River, officials said.

Salvage teams recovered a vehicle with a body trapped inside while they were working Monday to clear the channel of debris, said Baltimore Mayor Brandon Scott. Six construction workers were repairing potholes on the bridge on March 26 when it collapsed. The workers plummeted to their deaths, and two remain missing.

FBI agents boarded the Dali, the...

https://www.freightwaves.com/news/baltimore-bridge-collapse-fourth-victim-recovered-fbi-boards-cargo-ship

Do we really need another retail subscription service?

Target joins the subscription club

Image: FWTV

On Monday’s episode of The Stockout, Grace Sharkey and I discussed last week’s announcement that Target is launching a subscription-based fast delivery service. For an introductory price of $49 a year (rising to $99 a year starting in May), customers receive free two-day shipping and free same-day delivery on orders over $35. The company’s ability to offer such speedy deliveries is made possible by its recent investments in local sortation and...

https://www.freightwaves.com/news/do-we-really-need-another-retail-subscription-service