Newsletter – November 12, 2020

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    Newsletter – November 12, 2020
    OCEAN FREIGHT UPDATES
    Containers are ‘the new gold’ amid ‘black swan’ box squeeze
    freightwaves.com
    “It seems like containers are the new gold these days,” marveled Nerijus Poskus, global head of ocean freight at Flexport.
    “Container availability in Asia is extremely limited right now,” added Flexport Head of North American Ocean Freight Jan Hinz during a company webinar on Tuesday. “It’s causing a lot of hardship for our customers and the shipping industry as a whole. Read more here.
    US ports see record imports as retailers stock up for holiday period
    seanews.com.tr
    RELIMINARY statistics from the National Retail Federation (NRF) and Hackett Associates show that imports through US major ports set a peak season record this summer and fall as retailers stocked up for the holidays.
    According to data from the groups’ monthly Global Port Tracker reportt US ports handled an estimated 8.1 million TEU from July through October, a 6 per cent increase over last year and higher than the previous peak-season record of 7.7 million TEU set in 2018. Read more here.
    GROUND AND RAIL FREIGHT UPDATES
    White Paper: 2020 Q4 Carrier Outlook Report
    freightwaves.com
    This Carrier Outlook Report — presented in partnership with SkyBitz, DDC FPO, and Transflo — is the fourth installment of a quarterly publication. This report provides a look back at 2020 and a forecast for the remainder of the year. Carrier survey results and SONAR data are included. Read more here.
    CANADA BUSINESS – GOVERNMENT UPDATES
    Government of Canada announces support for jobs and economic growth in Hamilton
    canada.ca
    News release
    Minister Joly announces designation that will help businesses facilitate exports and create trade opportunities, and a $3.9-million investment in local manufacturer. Read more here.
    Ottawa may draw on high-interest federal loan program for airline bailout
    insidelogistics.ca
    loan program little-loved by industry will be among the options Ottawa weighs as it sits down with airline executives to negotiate a government aid package.
    The Large Employer Emergency Financing Facility (LEEFF) could play a key role in lifting carriers out of the dire financial straits caused by the Covid-19 pandemic, Bains said at a news conference Monday. Read more here.
    INTERNATIONAL BUSINESS – GOVERNMENT UPDATES
    U.S. retailers and carriers bracing for shopping surge
    insidelogistics.ca
    NEW YORK – Retailers and carriers are preparing for an online holiday shopping surge that could tax shipping networks and lead to delivery delays.
    FedEx and UPS are ramping up their holiday hiring while expanding their weekend operations and asking retailers to use their shipping network when there is more slack. And stores are pushing shoppers to buy early and are expanding services like curbside pickup to minimize the need for delivery. Read more here.
    What we know about Pfizer’s coronavirus vaccine distribution plan
    supplchaindive.com
    Dive Brief:
    Pfizer and BioNTech expect the distribution of their COVID-19 vaccine to involve about 12 trucks per day leaving Pfizer’s formulation and fill facility in Kalamazoo, Michigan, and 20 planes taking flight daily around the world, a Pfizer spokesperson said in an email. But first, the vaccine must be approved for distribution. Read more here.

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