December 16th, 2020
To help shippers better prepare for the next year, here are some of the most important dates to keep in mind for Mainland China and Hong Kong as we move into 2021.
Also in this week’s freight updates, we’ve got new highs for Asia-Europe rates, container shortages lasting through March, slow growth for U.S. imports, and the logistics news that shaped 2020. Short on time? Check out our summary of the latest international shipping news:
Asia-Europe rates hit new highs amid cargo booking halt
Container freight rates have continued to soar this week, hitting new record levels with Asia-Europe spot rates at about $3,000 per TEU as strong demand, equipment shortages, and port congestion pressure supply chains.
Costco expects container shortages through March
Container shortages at points of origin and West Coast ports in the U.S. are delaying Costco inventory replenishment by two to four days, Chief Financial Officer Richard Galanti said on a Thursday earnings call.
Asia-North Europe rates pass $10,000 – wait till it's our turn, say forwarders
Record high spot rates from Asia to North Europe and predictions of huge hikes for annual contract rates could lead to a rush of cancelled orders for next year. Retailers in Europe are already nervous about new partial lockdowns stymieing their sales …
U.S. import prices inch up in November
U.S. import prices rebounded less than expected in November as an increase in the cost of petroleum products was offset by cheaper food and motor vehicles, supporting views that inflation could remain moderate amid a resurgence in new COVID-19 infections and rising unemployment.
The Logistics News That Shaped 2020
Every year at this time, group news editor Jeff Berman combs through the stack of news that was reported, written and posted by the Logistics Management editorial staff over the course of the year to create the following list.
