Manzanillo and Lazaro Cardenas, two Mexican ports, saw significant increases in cargo last year, which suggests that Asia's inputs are driving up export production for the U.S. and other markets. Both ports also moved up in the rankings of the busiest North American gateways based on laden volumes. MEXICAN PORTS RISE [...]
Week 23 ushers in an early start to seasonal demand, vessel congestion woes in some U.S. ports, and increased blank sailings/port omissions. VESSEL CONGESTION GROWS: PORTS OF CHARLESTON & SAVANNAH South Carolina ports - notably Charleston- halted operations from May 19 - 21, 2024 due to software issues. Lingering [...]
Week 22 sees a reopened Port of Baltimore, backlog at the Port of Charleston, and some improvement at the Panama Canal. PORT OF BALTIMORE The Port Authority of Baltimore opened a 50’ deep Fort McHenry Limited Access Channel to commercial vessel traffic. Bookings to the Port are now open [...]
President Biden and the United States Trade Representative (USTR) recently announced Section 301 tariff hikes on key imports to address strategic trade concerns with China. These tariffs impact a wide range of products including electric vehicles (EVs), critical minerals, and other key sectors. New tariffs are set to take effect [...]
In Week 21, we find the global supply chain responding to newly announced Section 301 tariffs on, ongoing port congestion in China, and strides at the Port of Baltimore to reopen for container vessel traffic by the end of May. SECTION 301 TARIFFS Following the in-depth review by the [...]
Update June 4, 2023: Exporters are transferring cargo and rebooking shipments to other ports with vessels becoming overloaded due to these changes. The recovery process has begun on roads in the impacted region, though many remain blocked. Some cities remain under water and a number of factories stopped production because impacted [...]
"To encourage China to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, the President is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products." White House Fact Sheet | May [...]
Week 20 brings good some news for the global supply chain. The Port of Baltimore expects to reopen for container freight sooner than expected and the potential labor strike in Canada is postponed until further notice. However, ongoing challenges with equipment shortages and inclement weather have led to heavy [...]
A surge in Asian imports to the Pacific Southwest is driving an increase in eastbound intermodal train movement, adding to the chronic deficit in rail cars returning west. ASIAN IMPORTS SURGE AT PACIFIC PORTS The Port of Los Angeles reports that local dockworkers moved 2,380,503 TEUs in the first quarter [...]
In this Week 19 Freight Market Update, we explore the impact of a potential labor strike in Canada, the Paris Olympics, and Key Bridge responses to supply chain delays along with the slight relief rainy season has brought to Panama Canal operations. PARIS OLYMPICS 2024 The upcoming Olympic and [...]
