News Roundup: U.S. Warehouses Shed Inventory, Asia To North America Air Cargo Sees Surge & More
This week: Numerous retailers and direct importers are decreasing inventories after two years of carrying excess stock, as they start planning for an increase in purchasing in 2024. The short-term contracts for loads traveling from India to the U.S. East and West...
News Roundup: Concerns Rise Over Panama Canal Restrictions, President Biden’s Supply Chain Council Has First Meeting & More
This week: There could be some clarity on the horizon on which government agency has oversight over the storage fees railroads charge for ocean containers. Ocean Network Express CEO Jeremy Nixon is calling for action at Panama Canal in a letter to Panamanian President...
Cargo Volumes Get Holiday Boost At Port of Long Beach
Cargo Volumes Get Holiday Boost At Port of Long Beach Cargo volumes at the Port of Long Beach jumped 14.7% year over year in October, a rise that’s attributed to the holiday shopping season and efforts to recapture market share. “Cargo is rebounding and we are...
News Roundup: Container Market ‘Under Downward Pressure,’ ILA Says Longshore Union Issues Are Spreading
This week: Container volumes at Georgia Ports fell 7.6% year over year in September, although auto and machinery volumes saw a significant jump. The South Korean carrier HMM announced that revenue fell 58% year over year during an early November earnings report....