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Retailers worldwide are starting to feel the pain of swollen inventories even as container rates continue their freefall. On the other hand, carriers are increasing the number of blank sailings as demand continues to wane.
Brazilian coffee production is expected to be low due to extreme weather and the lack of containers caused export volumes to drop. However, inflation pressure may inadvertently help coffee exporters free up supply chain bottlenecks as more container capacity comes online.
In August, key Australian industries reported increased revenue, marked by significant increases in exports and imports. The total TEU capacity of ships arriving at Australian ports reached a two-year high but supply chain problems continue to plague New Zealand.
Savannah's port is congested again following the hurricane. Truck volumes dropped then rebounded at major cities in the path of the storm. A shortage of building materials and labor is expected to delay and increase the cost of rebuilding.
Strike action recommenced at UK's largest container Port of Felixstowe on Sept 27. Liverpool port workers also on strike for two weeks. Dispute a reflection of the UK's cost-of-living crisis.
The rolling back of global demand outlines supply chains going into Q4. Spot market rates are in free fall across the main Transpacific trade lane despite it being the traditional peak season. Strikes and potential strikes rampant across the EU/UK and the USA continue.
As we enter peak season, the number of vessels anchored off of the coasts of Savannah, Houston, and New York still do not appear to be reducing. According to project44 data, the number of vessels waiting offshore has been gradually increasing since April of this year.
According to project44 data intermodal container dwell times at the port of Los Angeles are rising. Containers that are dropped off by truck are now waiting 154% longer compared to January 2020.
To see if there is any credibility to the rumors, we looked at the total vessel TEU capacity calling at Chinese ports and compared them with the vessel TEU capacity of its Southeast Asian neighbors, Vietnam and Thailand. So what did we find out?
On-time performance continues to improve but has not returned to pre-covid levels. Fulfillment, transit, and click-to-deliver times are showing signs of improvement and shippers are continuing to increase the number of carriers used. Learn more in our latest report.