Union contracts for East and Gulf Coast dockworkers are about to expire, with a potential strike on the horizon. On September 30th, the current agreement between the ILA and USMX ends and the ILA is ready to strike on October 1st.
Explosion At Ningbo Port
On August 9th, a vessel carrying hazardous materials exploded at the Beilun Phase III Terminal in Ningbo port, halting traffic at one of China’s busiest shipping hubs. As the world’s second-largest container port, Ningbo handles over 100,000 TEUs annually, making this incident potentially disruptive to global shipping.
Saving Costs On Airfreight
Rising fuel prices and other escalating expenses are driving up air freight costs. In response, shippers are getting creative and discovering innovative strategies to boost their savings like optimizing routes, leveraging technology, and embracing sustainable practices. ✈️💡
Harsh Shipping Around Africa
🌊🚢 Heads up, global shipping community! Severe weather is disrupting routes around Africa, with 30-foot waves and intense winds causing containerships to seek shelter around the Cape of Good Hope. 🌪️ A recent cyclone and an upcoming hurricane in South Africa are impacting over 600 ships, affecting global cargo movement. Stay informed and safe!
Port Of Baltimore Reopened
The closure of the port led to logistics disruptions for many supply chains. Eleven weeks after the accident, the Fort McHenry channel is now back in regular operations.
Growing Singapore Port Congestion
Various international shipping circumstances have recently caused global backlogs across ports, with the Singapore port being an epicenter.
Container Rates Still Rising
Different global factors have contributed to the rise in container rates, including the scarcity of available space. Along with the Panama Canal drought and the US-China trade war, the Red Sea crisis significantly adds to the surge.
Importing During Chinese New Year
During the holiday, ports, shipping companies, and factories limit operations or shut down, which can cause supply chain disruptions.