“This will limit the capability of factories to deliver containers to the ports,” said one industry consultant.
Shippers should brace for “skyrocketing haulage costs,” HLS Holding warns.
The multiple testing hurdles and current stay-at-home orders in China are slowing down this critical movement of trade and increasing prices.
“50% of our ocean freight out of these two ports are non-electronic products,” explained Terry Unrein, COO of the Americas for Seko Logistics.
Seko Logistics, Worldwide Logistics among those reacting to China’s “zero-COVID” strategy.
Oil companies face a potential profits-versus-people dilemma as a flotilla of tankers carrying Russian oil heads for U.S. ports.
Consumers will see higher prices in the coming months at their retail and grocery stores as a result of the rise in black gold.
Three shipments bound for the Port of Novorossiysk have been canceled.
Russia’s invasion of Ukraine has heaped more uncertainty onto the global markets, adding to economic volatility.
The increase in Suez Canal tolls range between 5%-10% and become effective Tuesday.
The International Chamber of Shipping issued a warning of the human capital component — Ukrainian and Russian seafarers are now locked out.
New data released by project44 shows vessels waiting to berth in Asia recorded an average increase from 13 days in December to 16.7 days in January.
Dysfunction at the nation’s largest port helps explain why the U.S. is losing the trade war to China.
Traxens CEO David Marchand says that “known port congestion is only the tip of the iceberg.”
In this exclusive interview with American Shipper, the port envoy to the White House Supply Chain Disruptions Task Force discusses the state of the ports, the challengers at hand and the outlook for the future.
Despite the victory of saving Christmas, the congestion problems at the nation’s largest ports have not improved.
While there are other factors in driving up supply chain costs, it cannot be refuted that maritime costs are adding to inflation.
Shippers are “fed up” with the West Coast logjam and “happy” to pay extra for East Coast destinations.
“The global supply chain will be further strained because of these lockdowns in China and the result would be a further gap in global demand and supply,” says Container xChange CEO Johannes Schlingmeier.
The finger-pointing of blame and the political promises and suggestions are not improving the flow of trade.