Plus: Ten Oaks issues statement following USLS closure, a new bill to combat cargo theft is introduced, and year-over-year trucking costs increased by 6.6%.
Amazon unveils plans for a low-cost storefront featuring Chinese sellers' products, aiming to compete with Temu and Shein in the U.S. market.
ATRI report reveals a 6.6% increase in trucking operational costs during 2023 freight recession. Here's a breakdown of the numbers.
Plus, the Port of Los Angeles posted its 11th straight month of year-over-year gains in exports, processing 770,337 total TEUs, up 12% from last year.
Global goods trade is bouncing back after last year’s slump, pushing up shipping rates and straining capacity. This trend brings back memories of the "Covid-19" chaos when skyrocketing freight rates and disrupted supply chains dominated the headlines.
“This situation will bring back memories of the chaos and sky-rocketing ocean freight rates during the pandemic. Shippers have learned lessons from Covid-19 and some are bringing their imports forward, ahead of the peak season and the potential for a capacity squeeze.” – Emily Stausbøll, a senior shipping analyst at Xeneta.
John McCown, a veteran shipping analyst, highlighted the strong gains in container imports, attributing them to underlying economic activity.
In April, the Port of Los Angeles posted its 11th straight month of year-over-year gains in exports, processing 770,337 total TEUs, up 12% from last year.
Total imports rose 21% YoY, with exports up 51%. Daniel Hackett from Hackett Associates noted that while the West Coast shows stronger growth, year-over-year growth rates are expected to slow in the second half of the year compared to the first half.
On Pre-Pandemic Comparisons:
“Pre-pandemic comparisons are tricky. Comparing 2019 to 2024, the growth on the West Coast is just a 5% increase, whereas the East Coast saw a 14% increase. Peak season forecasting has become less predictable due to changes during the pandemic.” – Daniel Hackett, Hackett Associates
Sources: Bloomberg | Supply Chain Dive
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