This week, shipping container rates from China surged to a two-year high due to US tariff threats and Red Sea disruptions, pushing the Shanghai Containerized Freight Index up by 12.6%. Concurrently, the Biden-Harris Administration introduced new measures to enhance border security, limiting asylum eligibility and increasing penalties for unlawful entries, while labor negotiations for Canada’s border agents posed risks of significant delays for truck freight between the U.S. and Canada. Additionally, salvage crews in Baltimore successfully lifted a massive steel section from the Francis Scott Key Bridge, essential for reopening the full width of the navigation channel. The intensified enforcement by US Customs & Border Protection highlights the ongoing challenges in maintaining compliance and security within the ecommerce import sector. Read the full articles for comprehensive coverage on these developments.
Weekly Freight Report: June 7, 2024
June 7th, 2024
Shipping Container Rates From China Jump to 2-Year High as Panic Sets In Amid U.S. Tariff Threat, Red Sea Disruptions
Shipping container rates from China have surged to a two-year high, driven by a 12.6% increase in the Shanghai Containerized Freight Index due to concerns over US tariff threats and Red Sea disruptions.
DHS Continues to Strengthen Border Security, Reduce Irregular Migration, and Mobilize International Partnerships
The Biden-Harris Administration has introduced new measures to enhance border security by limiting asylum eligibility and increasing penalties for unlawful border entries amidst a strained immigration system and limited congressional resources.
Canada Border Disruption?? What Shippers Should Know on Possible Strike
The union representing Canada’s border agents has announced a potential nationwide job action starting Friday at 4 p.m. EST if a new labor deal isn’t reached, threatening significant delays for truck freight between the U.S. and Canada, impacting supply chains and causing possible four to five-hour wait times at border crossings.
Shifting Supply Chain Strategies Benefit U.S. and Mexico, UPS Official Says
UPS Supply Chain Solutions President Bill Seward highlighted that while China remains central to global supply chains, the U.S. and Mexico are experiencing significant benefits from shifting logistics strategies, with increased nearshoring and investment, particularly in Mexico.
Crews Lift Massive Bridge Section to Reopen Baltimore Channel
Salvage crews have successfully lifted a 470-short-ton steel section of the Francis Scott Key Bridge truss from the federal navigation channel, marking a critical step towards reopening the full 700-foot width of the channel, which had been limited to 400 feet following the incident that pinned The Dali for seven weeks.
US Customs Tightens Enforcement on Low-Value E-Commerce Trade
U.S. Customs and Border Protection has suspended several customs brokers from a program designed to expedite low-value shipments, while an influx of e-commerce imports from China and India overwhelms the agency’s ability to effectively police these goods.
