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Truckload peak season 2022 has resulted in minimal impact on the On-Time Performance. Last Mile, which is more susceptible to peak season-related delays, has witnessed an increase in carrier diversification to avoid the bottlenecks present during peak season 2021.
Carriers are making use of blank sailings to offset declining rates as they balance supply and demand. There has been an improvement in port congestion on the US East Coast, however it remains high compared to the same time last year.
With peak shopping season coming up, check out our latest State of Parcel report for Oct 2022 to see how the on-time performance has been in the month of September.
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.