NEWSLETTER NOVEMBER 7, 2022

OCEAN FREIGHT UPDATES

Port of Oakland terminals reopen after union walkout

splash247.com
The employee walkout that closed several terminals at the Port of Oakland on Wednesday was over by the time the evening shift began. A spokesperson for the International Longshore and Warehouse Union (ILWU) confirmed that the protesting workers took action as a local chapter, rather than as representatives of the entire union. Their chapter, Local 34, acts on behalf of marine clerks at the port. Read more here.

Hyundai Heavy unveils boxship design with no lashings

splash247.com
South Korea’s Hyundai Heavy Industries (HHI) has developed a containership design which requires no lashings.
HHI removed the lashing bridge and hatch cover in its new design, which has been approved by both ABS and the Liberian Registry. Instead, the yard has developed a device called a portable bench which receives the load of the containers on the deck and transfers it to the hull. Read more here.

China’s shipping giants join forces to map out green future

splash247.com
Some of the biggest names in Chinese maritime are joining forces to map out a greener path. Sinopec, COSCO, China Merchants Energy Shipping, ICBC Financial Leasing and China Classification Society (CCS) have launched the Sustainable Shipping Innovation and Development Initiative (SSIDI) in Beijing. Read more here.

GROUND AND RAIL FREIGHT UPDATES

Experts discuss how truckers can survive freight recession

freightwaves.com
Many freight experts have seen a slower ride this year as a weakening economy has forced home builders, retailers and other businesses to cut back on shipments during what is traditionally the peak holiday season for trucking companies.
After two years of surging freight markets caused by COVID-related disruptions, spot rates have softened over the past several quarters. Previous freight recessions — such as 2008 and 2019 when carrier after carrier of all sizes shut their doors — haunts the memories of many freight professionals.  Read more here.

INTERNATIONAL BUSINESS – GOVERNMENT UPDATES 

North America’s reshoring of the global supply chain

freightwaves.com
CHATTANOOGA, Tenn. — With manufacturing and labor markets on the decline with North America’s traditional partners in Asia — and with trade with Russia collapsing — North America is in prime position to take advantage by reshoring global sourcing. Read more here.

China joins supply chain shift and wants its hi-tech firms to invest in Vietnam

theloadstar.com
The shift of Chinese manufacturing to Vietnam is set to “accelerate” after a high level meeting in Beijing.
Vietnam’s general party secretary Nguyen Phu Trong met President Xi, who said China planned to build a “stable supply chain” with its southern neighbour. Read more here (login required).

Tricky peak season for retailers as consumers tighten the purse strings

theloadstar.com
Although capacity headaches have largely dissipated and cost pressures eased, US retailers are still facing a challenging peak season.
Thanks to volatility and the need to juggle multiple channels and sustainability, the busiest time of the year for retailers does not hold much promise. Read more here (login required).