An unexpectedly large drop in spot market capacity last week during the annual “Roadcheck” program pushed dry-van and refrigerated spot rates up for the first time since January, according to DAT.
Norfolk Southern Railway is hopeful that intermodal service in Jacksonville, which has been inconsistent since January 2021, will improve as damaged cranes are repaired in the next two months.
Coastwide contract negotiations between the ILWU and West Coast waterfront employers have been put on hold, although individual committee meetings on specific issues such as worker safety will continue.
For some US retailers, inventories are too high, but others are steadily building stockpiles to mitigate supply chain risks ahead of the year-end holidays, keeping freight demand high.
Norfolk Southern Railway is reducing service on 120 international intermodal lanes to simplify its network and improve service, but some companies are worried it will harm exporters and chassis supply.
The ILWU wants to temporarily suspend contract talks with West Coast waterfront employers, according to sources, with one saying little progress has been made since negotiations began May 10.
China continues to hold the largest share of US imports despite years of retaliatory tariffs and the ongoing efforts of US importers to diversify their sourcing to countries such as Vietnam, India, and Brazil.
The container ship orderbook currently stands at 26.7 percent of the global fleet, with much of the new capacity to be delivered in 2023 and 2024, but carriers have no intention of allowing the additional supply to undermine rates and profitability.
COVID-19 lockdowns in Shanghai may not result in a sudden flood of volumes to the US, but the GPA says additional storage capacity at Savannah’s Garden City Terminal and pop-up storage sites will allow it to handle any unexpected spikes.