After growing consumer demand and port congestion drove container ships to speed up, new data shows that speeds are slowing down on both the fronthaul and backhaul now. According to FreightWaves, “demand may be pulling back, at least temporarily, given that it’s now too late to import goods that will arrive in time for the holiday season. The peak of peak season appears to have passed.”
Cargo thefts are also on the rise in the midst of increasing supply chain backlogs at major U.S. gateways as reports emerge of $5 million worth of cargo being stolen in Q3 2021 alone. With southern California ports taking on more than they can handle, smaller hubs tired of sitting on the sidelines are launching campaigns to establish themselves as more attractive alternatives.
Meanwhile, China’s power crisis and COVID-19 struggles are starting to negatively impact the country’s outbound container volumes and economic growth. Over in the UK, confusion surrounding charges for customers using public border control facilities is causing some industry professionals concern.
According to the British Port Association’s CEO, Richard Ballantyne, “ports need to know so that they can charge accordingly. If ports overcharge, they will be left at a competitive disadvantage to the government facilities, and this would likely lead to certain routes being abandoned by shippers.”
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