Newsletter –  June 23, 2021

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    Newsletter –  June 23, 2021
    AIR FREIGHT UPDATES
    A ‘slow June’ as the air cargo market hovers, waiting for signs of recovery

    theloadstar.com
    Industry sources are painting a mixed view of the current air freight market, revealing pockets of congestion, but no real recovery from the (relative) slump seen in May.
    In fact, Clive Data Services revealed that China-Europe lanes saw a 20% fall in volumes in week three of June, compared with week three of May. Globally, however, for the same weeks, volumes rose 2%. Read more here (login required).

    OCEAN FREIGHT UPDATES
    Port fires spark suspension of handling dangerous goods at Shanghai

    theloadstar.com
    Shanghai authorities have suspended the land transport of containerised non-essential dangerous goods after two recent fires in the port.
    The suspension will be in force until 2 July, and follows the most recent fire on 17 June, giving officials time to develop measures to improve the safety of transporting such cargo. Read more here  (login required).

    Yantian to return to full operations from midnight, box backlog expected to take many weeks to clear

    splash247.com
    Yantian Port is set to resume normal operations from midnight tonight after a month-long cut in productivity brought about by a Covid-19 outbreak. Shippers have been warned it will take many weeks to clear up the immense container backlog in south China that has brought further strain to global supply chains over the past four weeks. Read more here.

    Port of Los Angeles sets record – breaching 1m TEU in May

    seanews.com.tr
    THE Port of Los Angeles has become the first gateway in the Western hemisphere to handle more than one million container units in a month – achieving the record in May.
    The US west coast port announced earlier this month that its dockworkers and terminal operators will lift more than 10 million TEU during the fiscal year that ends on June 30, a record for the port, reports Los Angeles Business Journal. Read more here.

    GROUND AND RAIL FREIGHT UPDATES
    Feverish demand and lack of supply driving used truck prices skyward

    freightwaves.com
    When it comes to the current state of used trucks, forget what Econ 101 teaches about supply and demand. Rather than one impacting the other, both are driving used truck prices to a post-Great Recession peak.
    “On the supply side, ongoing new truck production constraints are causing many buyers to look for low-mileage used trucks as a substitute,” Chris Visser, J.D. Power Valuation Services commercial vehicles senior analyst and product manager, told FreightWaves. “On the demand side, the freight markets are still red-hot, encouraging truckers to upgrade to newer iron.” Read more here.

    Perpetual peak season

    freightwaves.com
    Welcome to the WHAT THE TRUCK?!? newsletter. In this issue, never-ending peak season, Amazon’s disposal culture, Lordstown stock sale scrutiny, more. Read more here.

    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    Retailers seek talks with Biden over US port congestion

    lloydsloadinglist.com
    The National Retail Federation has requested a meeting with President Joe Biden to discuss the challenges its members are facing from continued supply chain disruptions that are leading to congestion at US ports.
    The request comes as attention by US Congress and the Federal Maritime Commission intensifies into the prolonged congestion at US ports. Read more here.

    FedEx Freight reverses service suspensions after outcry from big retailers

    freightwaves.com
    FedEx Freight (NYSE: FDX) is walking back its recent abrupt suspension of service to a portion of its customer base after ruffling feathers of key stakeholders that made known their displeasure, according to communications from the company and logistics industry executives.
    The measure, aimed at shippers with more costly freight in high-density shipping zones, was intended to provide the nation’s largest less-than-truckload carrier a respite from the enormous wave of shipments pouring into its network, which was slowing deliveries. Caught in the crosscurrent were big-box stores that dictate certain vendors use FedEx Freight and didn’t receive scheduled merchandise. Read more here.

    US needs 330M square feet of warehouse space to keep up with e-commerce: CBRE

    supplychaindive.com
    Dive Brief:
    The U.S. will need to add 330 million square feet of warehouse space dedicated to online fulfillment by 2025 in order to keep pace with the expected uptick in e-commerce sales over the same time period, according to a recent report from CBRE.
    The report expects e-commerce sales in the U.S. will increase to 26% of retail sales by 2025. Globally, there will need to be an increase of 1.5 billion square feet to keep up with a $1.5 trillion uptick in e-commerce sales by 2025. Read more here.

    Experts unveil legal definition that could see ecocide become a crime

    theloadstar.com
    Legal experts working for the Stop Ecocide Foundation have finalised a legal definition of the new international law, which they hope will be accepted and added to the Rome Statute of the International Criminal Court (ICC).
    The new law seeks to criminalise the destruction of the environment, including the oceans, rivers and forests and on land, and will make companies as well as the individuals that head those companies culpable for environmental damage. Read more here (login required).

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