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Search resuls for: "Freightwaves"


7 mentions found


☆ Canceled sailings from China and 'radical' vessel cuts hit U.S. ability to reach export market
  + stars: | 2022-11-11 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +9 min
"As shipping lines reduce their vessel calls in the form of blank sailings, this reduces the capacity for outbound volumes. Sea-Intelligence wrote in its recent blank sailings report that it has detected some unannounced cancellations for the calendar-year period of weeks 42-52 in the past two weeks. "Blank sailings have been ramped up drastically on the Transpacific, but not so much on Asia-Europe," said Alan Murphy, CEO at Sea-Intelligence. On Asia-North Europe routes, Sea-Intelligence is only seeing an additional six blank sailings, and on Asia-Mediterranean routes an increase of four blank sailings. The weekly average of vessels waiting this week is 14, waiting for an average of 6.3 days.
☆ Jim Cramer says a slowdown in the logistics industry suggests inflation could be coming down
  + stars: | 2022-11-10 | by ( Krystal Hur | ) www.cnbc.com   time to read: +1 min
CNBC's Jim Cramer on Thursday said that inflation could finally be cooling off as the freight industry's pandemic boom wanes. "We caught a real break today with a much lower-than-expected consumer price index number, and a huge part of that came down to how much it costs to get goods to the consumer," he said. "Why would the Fed need to keep tightening ever harder if the root cause of inflation, moving stuff from place to place, is finally going in the right direction?" Stocks saw their biggest rally since 2020 on Thursday after October's consumer price index data came in lighter than expected, raising hopes that inflation could be peaking. Cramer said that he expects inflation to continue to cool when supply costs for the freight industry such as labor and equipment decline more.
☆ China, 'factory of the world,' is losing more of its manufacturing and export dominance, latest data shows
  + stars: | 2022-10-20 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +5 min
The container ship Emma Mærsk docked at the Dapukou container terminal of Ningbo-Zhoushan Port on August 21, 2022 in Zhoushan, Zhejiang Province. Teodoro said Vietnam's close proximity to China and cheap labor are reasons why Vietnam is considered a suitable alternative. Vietnam has taken the lion's share of the manufacturing trade away from China with an almost 360% increase in far-distance trade since 2014 — the year the country started to invest in its maritime and manufacturing sector. Malaysia and Bangladesh have taken apparel manufacturing away from China, according to MDS Transmodal, while Taiwan has seen a marginal uptick in metal manufacturing. Ningbo port hit by Covid policiesThe Port of Ningbo, the world's largest port and the third-largest container port, is the latest Chinese trade hub to see an impact from the government's "Zero Covid" policies.
☆ A new wave of UK port labor strikes begins, with 'massive impact' for Christmas supply chain
  + stars: | 2022-09-28 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +6 min
A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. The shop stewards who represent union workers accepted Peel Ports request for a meeting at the union office on Tuesday. Supply chain impact from second round of U.K. strikesThe latest development comes amid mounting labor issues linked to inflation at U.K. ports, with workers at the nation's largest port, Felixstowe, beginning another strike this week after one in August. "Unite made it clear that until they have reached their goals these waves of strikes will continue which will have a massive impact on the Christmas business and supply." The CNBC Supply Chain Heat Map shows the present situation at the ports.
☆ Tensions rise in West Coast port labor battles, with unions and management trading accusations
  + stars: | 2022-09-28 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +6 min
Tensions are rising in West Coast port labor battles as unions and port management trade accusations about worker productivity and the awarding of job assignments. Jerome Roberts, GVP of marketing at supply chain consulting company Blume Global, told CNBC the one shift protest had no lasting productivity impact. Logistics companies fear the latest round of accusations will only increase tensions for a supply chain and national port infrastructure already dealing with multiple labor concerns. Project44, which also collects and analyzes port productivity for the CNBC Supply Chain Heat Map, has tracked some recent issues at Seattle operations. Container dwell times at the Port of Oakland have been improving over the month of September, according to Josh Brazil, vice president of supply chain insights at Project44.
☆ New York is now the nation's busiest port in a historic tipping point for U.S.-bound trade
  + stars: | 2022-09-24 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +5 min
This comes as the flow of trade continues to move away from the West Coast with logistics managers worried about a labor strike or lockout. More East Coast trade, and more port congestionThe CNBC Supply Chain Heat Map for the U.S. shows how the continued increase in trade has East Coast ports and Gulf port as the winners in this movement of freight. Maritime prices fallingThe flow of trade away from the West Coast has decreased the demand for vessel space, leading Far East to West Coast maritime freight prices to fall. "Shippers are still bringing in a lot of containers, on the East Coast and West Coast and Gulf Coast as well." Shippers are still hesitant to return re-routed cargo to the U.S. West coast, Sand said.
☆ UK dock worker strikes to hit supply chains for companies including Ford
  + stars: | 2022-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +3 min
A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. This eight-day strike overlaps with a second strike at the UK's largest container port, the Port of Felixstowe, set to begin on Sunday. With multinational companies including Ford — which on Monday warned of a significant cost increase from supply chain pressures — exporting from the UK, the continuing labor strife will stress an already congested European port network. Ford is one of thousands of companies that use both the UK ports and the ports in Germany, Belgium, and Netherlands to export auto parts. According to FreightWaves SONAR data, the Port of New York and New Jersey receives 30 percent of all UK exports.
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