Week 35 finds the freight market strained but rebounding. Government involvement ended the railway labor actions in Canada, water levels continue to improve in the Panama Canal, but the market remains fluid due to ongoing disruptions such as the recent rail lockout/strike and the Red Sea Crisis. CANADA RAILWAY [...]
In Week 34, port congestion remains a challenge throughout the global supply chain. The threat of a Canada railway work stoppage looms large as the August 22, 2024 collective bargaining "cooling off" period nears the deadline for an agreement. CANADIAN RAILWAYS ANNOUNCE LABOR LOCKOUTÂ Both CN and CPKC officially [...]
In Week 33, port congestion remains a challenge throughout the global supply chain. Recent dangerous goods container explosions aboard Yang Ming and MSC vessels impacted operations in Ningbo and Colombo while the threat of potential labor action sees shippers placing orders early to avoid potential delays. CONTAINER EXPLOSIONS AT [...]
Week 32 brings some relief as the Panama Canal Authority adds additional daily slots. However, Tropical Storm Debby is creating challenges for the U.S. East Coast with record-level rainfall. Railcar shortages that continue to plague the U.S. Pacific Northwest. TROPICAL STORM DEBBY Initially a Category 1 hurricane, Tropical Storm [...]
As Week 31 comes to a close, we find the global supply chain facing familiar challenges including strained labor relations, wildfires delaying Canadian port operations, and railcar shortages that continue to plague the U.S. Pacific Northwest. DEMAND SLOWS YET REMAINS HEALTHY Demand is slowing but remains healthy and is [...]
PORT PROJECTS IN BALTIMORE AND OAKLAND PROPOSED On Monday, the House of Representatives approved by a vote of 359 to 13 the Water Resources Development Act of 2024 (WRDA). This legislation will help fund navigational projects at the ports of Baltimore and Oakland. It allocates approximately $4.8 billion [...]
Week 30 ushers in new challenges for the global supply chain in the form of IT outages, port congestion, and ongoing equipment shortages. CROWDSTRIKE IT OUTAGE The IT outage on Friday, July 19, 2024, caused by a bug in a CrowdStrike software update, is considered the largest outage in [...]
In Week 29, we see demand begin to fall from an early peak season while equipment shortages and severe weather impact vessels and some ports. WEATHER BLOCKS VESSEL TRAFFIC AROUND CAPE OF GOOD HOPE Severe weather near the Cape of Good Hope forced container vessels to seek shelter from [...]
This week's Freight Market Update brings good news for shippers choosing the U.S. West Coast ports as capacity is loosening. Week 28 started with a category 1 hurricane bringing the U.S. Gulf Coast supply chain to a temporary halt while German dockworker strike stopped port operations in Hamburg, Germany. [...]
Week 27 brings tidings of good news from the Panama Canal though tight capacity and port congestion in Asia continues to plague the global supply chain. PANAMA CANAL DRAFT RESTRICTIONS MODIFIED Earlier this month, the Panama Canal Authority announced a significant change: they will be increasing the number of [...]
