The World Shipping Council (WSC) is looking to submit a proposal for a new global green fuel pricing mechanism which would encourage a shift from fossil fuels to greener alternatives from ocean carriers. This proposal would have to figure out a way to work alongside or replace the current Emissions [...]
California recently enacted two climate disclosure acts SB-253 Climate Corporate Data Accountability Act and SB-261 Greenhouse Gases: Climate-Related Financial Risk. These new legislative documents make it mandatory for many companies operating in California to report both quantitative and qualitative climate information. These laws are expected to have a significant [...]
In the freight market update for Week 07 of 2024, we see continued volatility with some capacity constraints. LUNAR NEW YEAR The Lunar New Year kicked-off on February 10, 2024 and will run through February 17, 2024. Expect manufacturers to shut down for 7-14 days - shipment delays are [...]
As the automotive sector in North America continues to evolve under the guidelines of the United States-Mexico-Canada Agreement (USMCA), stakeholders are offering insights and recommendations to address ongoing challenges. Ahead of the upcoming annual report by the Office of the U.S. Trade Representative (USTR) on the impact of USMCA rules, [...]
Since December 21st, the Federal Maritime Commission (FMC) has granted seven emergency waivers to container lines, allowing for the rapid implementation of surcharges on ocean freight tariffs, bypassing the customary 30-day notice period. These surcharges aim to offset the increased operational costs incurred by ocean carriers diverting from the Suez [...]
In the freight market update for Week 06 of 2024, we see continued volatility with some lanes experiencing increased demand and others facing capacity constraints. LUNAR NEW YEAR The Lunar New Year begins on February 10, 2024 and lasts through February 17, 2024. Manufacturers typically shut down for 7-14 [...]
In the freight market update for Week 05 of 2024, we see continued volatility with some lanes experiencing increased demand and others facing capacity constraints. Ships continue facing threats from Houthi rebels in the Red Sea despite U.S. naval assistance. Recent reports show a 30% decrease in ship traffic [...]
WEEK-LONG RAIL STRIKE German rail workers are in the midst of a week-long nationwide strike over working conditions and pay disputes. The Gewerkschaft Deutscher Lokomotivführer (GDL) initiated the strike. Spanning from January 23 to January 29, 2024, the labor action involves locomotive drivers, dispatchers, and other transport sector employees. [...]
WEEKLY FREIGHT MARKET UPDATE In this week's comprehensive freight market update, several global factors are shaping the logistics landscape. Carriers are strategically adjusting their operations in February, incorporating blank sailings to flexibly address capacity needs, with emphasis on USWC or USEC. Notably, the extended Cape of Good [...]
The Federal Maritime Commission (FMC) has scheduled an informal public hearing on February 7, 2024, to investigate the impact of conditions in the Red Sea and Gulf of Aden regions on global supply chains and commercial shipping. The hearing aims to facilitate communication between stakeholders in the supply chain and [...]
