This week, global goods trade showed signs of accelerating after last year’s slump, pushing up shipping rates and prompting some supply-chain managers to bring imports forward ahead of peak season, amid concerns over port congestion in Asia, labor strikes in North America, and U.S.-China trade tensions. Concurrently, RoadOne IntermodaLogistics announced plans to expand its transloading capacity in the US Southeast with a new facility near the Port of Charleston, which will feature over 660,000 square feet of distribution space. Meanwhile, shippers at the Agriculture Transportation Coalition conference expressed concerns over a 9% rise in U.S. cargo thefts in 2023, with projections suggesting a 35% increase by the end of 2024. Companies are advised to take extra precautions to secure their shipments. Lastly, the shift to just-in-case supply chain strategies post-pandemic continues, with firms maintaining higher inventory levels and exploring nearshoring and friendshoring options to enhance resilience and mitigate risks. Read the full articles for comprehensive coverage on these developments.
Weekly Freight Report: May 31, 2024
May 31st, 2024
Texas Ports Brace for Predicted Above-Average 2024 Hurricane Season
This year’s hurricane season is expected to be more active than normal, with experts predicting up to 25 named storms, including 8 to 12 hurricanes, putting the Texas coast at serious risk, yet Texas ports maintain a constant state of readiness for such events.
RoadOne Follows Growing Demand for Container Transload to Charleston
RoadOne IntermodaLogistics is expanding its transloading capacity in the US Southeast with a new facility near the Port of Charleston, which will eventually feature over 660,000 square feet of distribution space, marking its first transload facility at this major North American port.
Legislative Update: Tariffs, Import Restrictions, Supply Chains, Forced Labor
Several new bills in the House and Senate address import tariffs, supply chain resilience, reshoring jobs, and trade relations, including measures to impose tariffs on Chinese drones, deter conflict in the Taiwan Strait, and promote resilient supply chains and domestic manufacturing.
Complete Decoupling from China in Supply Chains Is Unfeasible
In the post-pandemic era, companies are shifting to just-in-case supply chain strategies to buffer against disruptions, but complete decoupling from China is impractical due to its central role in global manufacturing, necessitating a focus on resilience through diversified sourcing, nearshoring, and digitalization.
Trade Strains Boost Cargo Rates at Pace Recalling Covid ‘Chaos’
Global goods trade is accelerating after last year’s slump, driving up shipping rates and prompting supply-chain managers to bring imports forward ahead of peak season, fueled by concerns over port congestion in Asia, labor strikes in North America, and U.S.-China trade tensions.
'Organized Crime at its Finest': Huge Rise in Cargo Thefts Continues
At the 2024 Agriculture Transportation Coalition conference, shippers expressed concern over a 9% rise in U.S. cargo thefts in 2023, with projections suggesting a 35% increase by the end of 2024, driven by more organized and sophisticated criminal groups targeting high-value items, particularly in California.
