Top 50 global freight carriers facing major disruption … what transport data says about the state of the industry … U.S. exporters coming up empty in scramble for outbound containers … FMC urged to suspend detention and demurrage fees … box boom, capacity crunch lasting into 2021 … and more all in this week’s international freight updates. Short on time? Check out our summary of the latest shipping industry news:
Week 47 Freight Updates
November 18th, 2020
Top 50 Global Freight Carriers Face Major Disruption
The world’s largest freight transportation providers overcame unprecedented disruption in 2020 as the coronavirus outbreak upended normal freight patterns and muddled supply chains. The fallout from the pandemic also created even more uncertainty in an international business environment that already had been unsettled by trade disputes and higher tariffs.
Trucks, trailers, tonnage: What transport data says about the state of the industry
Economic forces, consumer demand, seasonality, natural disasters, and myriad other factors contribute to transport’s cyclical market. Read more to find out the latest data on Class 8 truck orders, trailer orders, monthly tonnage, and TL linehaul rates.
U.S. Exporters Coming Up Empty in Scramble for Outbound Containers
A surge in Asian imports bound for U.S. retailers stocking up for the holidays is leading to an acute shortage of shipping capacity for U.S. exporters, with agricultural producers now struggling to find the containers they need to send their products to overseas buyers. Container shipping companies seeking to keep pace with the strong demand for goods from China are rushing to unpack and return to Asia …
FMC urged to suspend detention, demurrage fees
A coalition of stakeholders says they will consider calling for an update of the Shipping Act of 1984 next year after asking the FMC for more immediate relief on detention and demurrage charges in the US’s two largest port complexes.
Hapag-Lloyd: Box boom, capacity crunch may last into 2021
If you take a direct hit from a Category 3 hurricane, the fallout is far more severe if the storm stalls over your house than if it quickly passes by. The same goes for supply chains. When demand is super-hot, port and transport infrastructure can deal with short spikes, but eventually, they buckle.
