31
Mar

Market Update – March 2022

MARKET UPDATE – March 2022 As many areas throughout the world begin to fully reopen for international travel, all eyes are on China’s plan to cope with the largest COVID-19 outbreaks the country has faced since the early days of the pandemic during the beginning of 2020. Many supply chain professionals are worried the recent lockdowns in China could cause
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25
Feb

Market Update – February 2022

OCEAN UPDATE Eastbound transpacific container freight rates were largely stable, with prices remaining at an elevated level. On the spot market, ex-China rates are at $13,492 to USWC and $15,428 to USEC, while ex-East Asia rates are at $18,517 and $23,100 to USWC and USEC respectively. The backlog created during the Lunar New Year when China’s workforce ceased  operations is

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8
Feb

How To Minimize Costly Demurrage and Detention Charges

How To Minimize Costly Demurrage and Detention Charges The pandemic-driven surge in consumer spending has unleashed a series of damaging crises that have nearly paralyzed the supply chain. Persistent port congestion, in combination with shortages of manpower and equipment, are stagnating the circulation of containers and leaving shippers worldwide with fear of greeting their customers with empty store shelves. As
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27
Jan

Market Update – January 2022

Market Update - January 2022 As we usher in the new year, unresolved global port congestion, labor shortages, and capacity restraints have dampened the hopes of many for a brighter supply chain outlook in 2022. While there is no indication whether these disruptions will finally ease as governments discuss varying exit strategies for the pandemic, building a supply chain that
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10
Jan

Reducing Import Duties & Start Saving: Duty Deduction Program

Reducing Import Duties & Start Saving: Duty Deduction Program With rising supply chain costs, it has become more common for businesses that import goods to explore new ways to minimize unnecessary spending and improve profitability. One area of opportunity is reducing the duty paid on transportation costs. Did you know there is a range of charges possibly built into the
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21
Dec

Market Update – December 2021

Market Update - December 2021 For many professionals in the global logistics sector, to say that 2021 has been a challenging year would be an understatement. Persistent port congestion, skyrocketing ocean freight rates, sustained capacity reductions, and cargo delays are just a few examples of the global supply chain disruptions many shippers have had to endure in the past year.
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25
Nov

Market Update – November 2021

Market Update - November 2021 From the port closures in Shenzhen earlier this year to the more recent cargo logjam on the U.S. West Coast, the supply chain crisis continues to make headlines globally and leaves importers worldwide perplexed about the low inventory levels heading into the busy holiday season. Although the industry recently saw a fall-off in container freight
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9
Nov

What China’s Energy Crisis Means for the Global Supply Chain

What China’s energy crisis means for the global supply chain As China contemplates its strategies to combat the soaring coal prices and energy shortages, millions of households in the country have experienced sporadic power cuts with virtually no prior warnings as a result of the government’s power rationing to ensure balanced electricity consumption. Similarly, the energy crisis has also disrupted

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21
Oct

Market Update – October 2021

Market Update – October 2021 While the world has adapted to a new normal with initial uncertainties of COVID-19 becoming an accustomed phenomenon, the crisis in global supply chains following the pandemic seems to be here to stay. Before a more desirable balance between demand and supply returns, many shippers believe the constraints with never-ending port congestion, sustained increases in

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23
Sep

Market Update – September 2021

Market Update – September 2021 As we move deep into the peak season with many in the supply chain feeling like the previous peak  never ended, the crisis initially unleashed by the COVID-19 pandemic has translated into prolonged challenges that many shippers believe may leave a permanent scar on the logistics industry. Global port congestion, scarce ocean and equipment capacity,

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