The buzz out of the Trans-Pacific Maritime (TPM) conference focused on the future of ocean freight logistics under the theme of “picking up the pieces” – a bit of whimsical wordplay about the disruption, inflation, and collapse of ocean freight rates, services, and the uncertain future. Unprecedented volatility was the standard description for the way
Initially, analysts predicted that blanked sailings would subside after Lunar New Year, but new predictions push the slump past the Spring Festival and well into the end of the first quarter before improving. Vessel sharing alliances have blanked more than 27% of their sailings connected to Asia, prompting shippers who are concerned about inventory to
The FMC is working hard to keep carriers accountable as investigations into retaliation and discrimination against shippers who reported fee and demurrage charges that were erroneously applied. Hot on the heels of the news that ocean market rates are dropping, causing contract rates to become much higher than the spot market, the FMC’s look into
West coast ports have lost market share to east coast ports as many took the congestion earlier this year at the Ports of Los Angeles and Long Beach as a sign to move their voyages to arrive on the opposite side of the country. Concerns are now being raised, as the west coast sees a
The Brotherhood of Railroad Signalmen’s union has voted against the National Tentative Agreement, becoming the second union to say no to the contract proposed in September after a lengthy negotiation that required the Presidential Advisory Board to step in and urge both sides to come together. Unfortunately, despite that intervention, the issues regarding sick time,
Anxious to hold onto the profits and control they had during the pandemic, carriers are struggling to amend capacity and availability to keep rates up as demand flops worldwide. Coupled with new lockdowns coming from China’s zero-COVID policy in Ningbo, Shanghai, and Tianjin, there could be more cuts coming in addition to the issues that
After the booming ocean cargo season that turned a sprinkle of profit into a firehose, any slowdown will feel like the world is ending for ocean carriers. So to maintain their success, some of the biggest ocean carriers are announcing an air cargo arm to bolster their service offerings and offset the reduction in ocean
Railroad labor negotiations are coming to the end of a thirty-day cooling-off period this Friday, September 16th which means a strike is possible. While many Class 1 railroads prepare for the possibility of a work stoppage, many have started placing embargoes on cargo that is time- or security-sensitive or hazardous. While the government has made
In a constructive effort to enforce the Ocean Shipping Reform Act of 2022, the FMC has formed the Bureau of Enforcement, Investigations, and Compliance. Called “a body with teeth,” the Bureau will have the power to hold carriers accountable after years of limited oversight and out-of-control market conditions have left them raking in record profits
The Ocean Shipping Reform Act of 2022 (OSRA-22) has been signed into law by President Biden in an attempt to alleviate supply chain congestion and inflation. The President was quoted as saying, “… this law is going to help begin to lower shipping costs, bring down prices on everything from goods to products that the
