On this episode of Midday Market Update, Kaylee Nix and Michael Vincent got a deep look at the state of the raw material market and an update on Containergeddon 2.0.
First in headlines, Andrew Cox brought news of acquisitions by FreightWaves and truckstop.com, a proposed acquisition by Canadian Pacific Railway, and another look at the ocean rate crisis as contract season rolls along.
Vincent and Nix welcomed IntelliTrans President Ken Sherman, who discussed the state of raw material shipping right now. Sherman said overall manufacturing indices are showing good recovery and movement toward increased activity.
FreightWaves Lead Economist Anthony Smith supported the assertion of manufacturing recovery, but not without warning of potential downstream inflation effects.
The second guest welcomed was Lori Ann LaRocco, CNBC senior editor of guests and FreightWaves maritime trade columnist. LaRocco put strong emphasis on the expected continuation of port congestion and container shortages, especially on the heels of the third stimulus package.
LaRocco just wrote an article about inequities in COVID-19 vaccine access for seafarers, and she discussed why that could have detrimental effects on boat workers in both commercial shipping and cruise lines.
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