Newsletter – March 11, 2020

  • 11

    Mar

    Newsletter – March 11, 2020
    AIR FREIGHT UPDATES
    Air freight rates surge on coronavirus supply chain chaos
    lloydsloadinglist.com
    Air freight prices are spiking as a perfect storm of demand and supply factors drives up rates.

    FIS reports a sizeable surge in prices this week, with China-US rates up 43 cents per kg, China to Europe up 23 cents and intra-Asia traffic up over 22% week-on-week. Read more here.

    OCEAN FREIGHT UPDATES
    What crude price collapse means to ocean shipping
    freightwaves.com
    It’s a black swan on top of a black swan. First, the coronavirus outbreak, and now, the collapse of the production-cut agreement of OPEC+ — the coalition of OPEC and other countries including Russia — after a dispute on how to handle coronavirus-induced demand destruction. Read more here.
    Cybersecurity guide for container shipping now online
    freightwaves.com
    The Digital Container Shipping Association (DCSA) on Tuesday published a guide to help ocean carriers thwart cyberattacks.
    The Amsterdam-based nonprofit said the guide is designed to facilitate vessel readiness to comply with the International Maritime Organization (IMO) Resolution MSC.428(98) on Maritime Cyber Risk Management in Safety Management Systems. Read more here.
    COVID-19 exposing funding shortfalls at U.S. ports
    freightwaves.com
    The current port security regime in the United States does not provide safety levels needed to protect the nation’s ports — and the supply chains that rely on them — against the spread of coronavirus, according to a global security expert. Read more here.
    Opening of the Great Lakes to international shipping is delayed by 2 weeks
    seanews.com.tr
    HIGH water on the Great Lakes is pushing back the start of the international shipping season by two weeks, potentially costing companies millions in lost revenue and disrupting supply chains.
    The locks that permit travel between Lake Ontario and the St Lawrence River will not open until April 1, two weeks later than expected. The Ottawa-based Chamber of Marine Commerce said that could delay up to 100 ships, reported Minneapolis Star Tribune. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    What tech and metrics do you need for omnichannel?
    supplychaindive.com
    Dive Brief:
    -About 20% of retailers do not think they have the right technology or metrics to execute their omnichannel strategy, according to a 2019 Forrester survey of 69 retailers.
    -More than half (53%) of these retailers had plans to invest in a new order management system (OMS) last year and another 28% were planning to spend on a warehouse management system, the survey found. Read more here.
    COVID-19: The Most Affected Economies
    maritime-executive.com
    UNCTAD has published a technical note entitled Global trade impact of the coronavirus (COVID-19) Epidemic, noting the most affected economies. Read more here.

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