Shifl

Improvement in box rates, transit times and gate-out times in US ports, says Shifl’s report

Container spot rates between Chinese base ports and the US West and East Coast are seeing a steady decline since they peaked in January in the run-up to the Chinese New Year (CNY) on 1 February.

Particularly, according to a study by the digital freight forwarding platform Shifl, the spot freight rates for a 40’ high cube container moving from Chinese base ports to Los Angeles have fallen roughly 44% from 1 January, while spot rates to the port of New York show a similar drop of around 38% over...

https://container-news.com/improvement-in-box-rates-transit-times-and-gate-out-times-in-us-ports-says-shifls-report/

Transpacific spot rates drop, transit times remain high

The digital freight forwarder Shifl has conducted a study showing that transpacific container spot rates between Chinese ports and the US West Coast and East Coast have been fluctuating substantially since April.

“2021 has seen historically high spot rates as the ripple effect of the Covid disruption, increased demand, and blank sailings continued to wreak havoc on the supply chain,” said Shabsie Levy, CEO and founder of Shifl, who went on to add that shippers struggled to book freight as the...

https://container-news.com/transpacific-spot-rates-drop-transit-times-remain-high/

Shifl releases fintech product for instant payments

International freight forwarder Shifl announced Thursday it is releasing a fintech solution, shifl.capital, to enable the sending and receiving of instant and free digital payments.

Founder and CEO Shabsie Levy told FreightWaves that providing this service will help eliminate another obstacle that challenges global shipping, as many payment processes can take up to five days to be processed for freight to be released.

“Our industry revolves around payments,” said Levy. “Sometimes they get an ETA...

https://www.freightwaves.com/news/shifl-releases-fintech-product-for-instant-payments

Freight tech provider shifl shifts into fintech market

Logitech provider shifl (Yiddish for ship) unveiled its latest offering today when it launched shifl capital, a free instant freight payment system.
It derives from the US-based company’s banking experience and was developed to incorporate shifl’s supply chain visibility functionality.
This means a shipper, BCO or freight forwarder using the system can see when the box passes particular stages of its supply train journey which require payments to be made. The user …

The post Freight tech...

https://theloadstar.com/freight-tech-provider-shifl-shifts-into-fintech-market/

‘Snouts in the trough’ attack, as Maersk results are turbo-charged by 80% rate hike

As a harbinger of spectacular results from the liner industry for the final quarter of 2021, on the back of an 80% average rate increase and a new record for quarterly earnings, Maersk has again upgraded its full-year guidance.
Based on preliminary results, the Danish shipping company said today it expected to report up to a further $1.8bn in Q4 earnings, for a revised full-year ebit of $19.8bn.
Maersk said it would …

The post ‘Snouts in the trough’ attack, as Maersk results are turbo-charged by...

https://theloadstar.com/snouts-in-the-trough-attack-as-maersk-results-are-turbo-charged-by-80-rate-hike/

Imports take ‘dramatically longer’ to reach US as bottlenecks bite

container shipping

Planning to import goods from Asia by ocean and sell in America this summer? Better act fast. The trans-Pacific journey can now take over three months. According to multiple sources, average transit times have risen to double pre-COVID levels — and they’re still increasing.

Methodologies and data sources differ, so time estimates vary. But each dataset shows the same trend: With each passing month, more vessels, container equipment and goods inventories are getting waylaid in the Pacific.

Flexport

https://www.freightwaves.com/news/imports-take-dramatically-longer-to-reach-us-as-bottlenecks-bite

US importers using box ships to store cargo – cheaper than warehouses

The combination of congestion at US west coast ports and low interest rates is allowing US importers to use containerships as ‘offshore warehouses’, mitigating logistics costs.
According to freight visibility company project44, transit times from China to Los Angeles have nearly tripled, with freight taking up to 60 days to be cleared through LA and Long Beach ports – its data suggests an average of 540,255 teu per month was waiting …

The post US importers using box ships to store cargo –...

https://theloadstar.com/us-importers-using-box-ships-to-store-cargo-cheaper-than-warehouses/

‘Amazing’ transit times: From China, it’s faster to reach New York than LA

Time is the most valuable commodity in the world of trade. It’s priceless. A new report out on transit times from digital freight forwarder shifl shows the impact the massive congestion off the coast of Los Angeles and Long Beach has had on transit times. 

The pipes of trade on the West Coast are so clogged it is now faster for vessels to travel to the East Coast and call on the Port of New York and New Jersey than to travel to the West Coast ports and wait, the report says. 

According to Shifl’s...

https://www.freightwaves.com/news/amazing-transit-times-from-china-its-faster-to-reach-new-york-than-la

Consumers have to wait 17 more days as congestion drags on, reports Shifl

Digital freight forwarder Shifl is warning businesses that supply chain delays are far from over.

Shifl reports that long transit times, berthing delays, and dwell time inside US ports have resulted in a total average transit time of 45 days in November 2021, compared to 28 days in May 2021, an increase of 61% in the time that consumers are waiting for goods to be delivered.

“Containers are still being held up at every step, even after they are unloaded,” said Shabsie Levy, CEO & Founder of...

https://container-news.com/consumers-have-to-wait-17-more-days-as-congestion-drags-on-reports-shifl/

Transpacific box rates have fallen 50% since September

Shippers’ relief from the drop in the China-US spot rate market during the first week of October seems to be continuing into November, according to the digital freight forwarding company Shifl.

“With the holiday shopping rush seemingly over and the already ordered goods sitting inside thousands of containers on many ships across the US, the drop-in freight rates on the spot market continues into November 2021,” said Shabsie Levy, CEO & Founder of Shifl.

The New-York based company had earlier...

https://container-news.com/transpacific-box-rates-have-fallen-50-since-september/

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