Newsletter – January 17, 2024

OCEAN FREIGHT UPDATES

Scheduling Chaos Puts Carriers Under Pressure from Shippers
theloadstar.com
Carriers are coming under some pressure from their major VIP shippers to announce temporary network changes, so that their supply chains can be adjusted to match.
Amid the scheduling chaos caused by diversions and delays, carriers continue to issue blank sailing announcements for Asian export loaders, even though the backhaul sailings of the voided ships will be weeks late.
And shippers are complaining that carriers are spending most of their time implementing surcharges and rate hikes, instead of announcing arrival updates. Read more here (login required)

Ships Keep Running Red Sea Gauntlet After Warnings
ajot.com
Huge numbers of merchant ships have continued to navigate the southern Red Sea since warnings by western navies to stay away from the crucial trade route to avoid attack by Houthi militants.
On Friday, the Combined Maritime Forces – encompassing both UK and U.S. navies – advised merchant ships to stay away from the danger zone. Their advice came after both nations bombed targets in Yemen to try to quell attacks on commercial vessels by Houthi militants, prompting concern about reprisals. Read more here.BC Trucking Association Introduces the Clean Carrier Program. Read more here.

Panama Recap
eeSea
Panama was enjoying relatively consistent congestion levels in the past 6 weeks, hovering between 40-60% weekly averages but has peaked back to 77% this week, topping out at 89% today with 8 vessels waiting and one in transit.
There are 27 diversions expected through the end of February, with 7 of them confirmed to be opting for the Cape of Good Hope.

Suez Recap
eeSea
The Suez Canal is exhibiting its lowest congestion levels in the past two months, at an average of 67% this week and just 40% today with 2 vessels waiting and 3 in transit.
There are 188 confirmed diversions expected in the next 6 week period. Only 47 vessels transited the canal last week, another 50 are expected this week, and 65 predicted for w4 (with a high likelihood of additional last minute diversions). This is in stark contrast to the average 150+ vessels that transited the canal daily before the Red Sea conflict began.

GROUND AND RAIL FREIGHT UPDATES

BC Trucking Association Introduces the Clean Carrier Program
cleancarrier.ca
The BC Trucking Association (BCTA) has launched its Clean Carrier Program. The program’s mission is to certify motor carriers that have committed to environmentally responsible practices, fostering a cleaner and greener future for the trucking industry.
The Clean Carrier Program is more than a certification; it is a roadmap for carriers dedicated to sustainable operations. By participating in this program, carriers stand to gain tangible benefits, including enhanced cost efficiency, increased market competitiveness and strengthened relationships with stakeholders. The program offers a platform for carriers to showcase their dedication to environmental responsibility and provides exclusive resources to support their journey. Read more here.

U.S. Congress Again Floats Massive Increase to Trucking Insurance Minimums
ccjdigital.com
In what has become something of a ritual in Congress, a bill has been introduced that would, if passed and signed into law, increase the minimum liability insurance requirements for interstate motor carriers from $750,000 to $5 million.
Reps. Jesus “Chuy” Garcia (D-Illinois) and Hank Johnson (D-Georgia) introduced the “Fair Compensation for Truck Crash Victims Act” on December 22. Read more here.