Panic-shipping causes temporary bump on exports to U.S.; Q3 Transpacific rates jump nearly 50%; ecommerce changing peak-season patterns; shipping lines learning to balance supply and demand; and rebounding global trade all made waves in this week’s international freight updates. Short on time? Check out our summary of the latest shipping industry news:
Week 36 Freight Updates
September 4th, 2020
Panic-shipping causes temporary bump on exports to U.S. and helps drive up transport costs
When the COVID-19 pandemic hit Canada and the longest international border in the world between two countries closed to non-essential travel, export traffic going south to the United States actually increased from some Canadian exporters.
Q3 ocean volume on par with 2019, but Transpacific rates jump nearly 50%
Global demand for ocean shipping on East/West lanes will be nearly on par with 2019, projected to fall just 0.1% in the third quarter compared to the third quarter of 2019 based on currently scheduled blank sailings from carriers.
E-commerce changing peak-season shipping patterns
Freight forwarders and logistics experts are now predicting that US imports will remain at elevated levels at least through October, fueled primarily by e-commerce fulfillment and a steady flow of personal protective equipment (PPE).
Shipping Lines Learn to Make Money By Balancing Supply and Demand
The trade downturn in the wake of the coronavirus pandemic has pushed ocean carriers to cut capacity and focus on profitability rather than market share.
Disaster fallout: How global shocks are reshaping trade
Pandemic, hurricanes, wildfires, social upheaval, geopolitical and financial crises, swarming locusts, an exploding port … 2020 has been a biblically ominous year. And it’s only September. U.S. importers are realizing that supply chains must change.
Global Trade Seen Rebounding Faster Now Than Post-2008 Recession
Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy.
