The majority of shippers have finalized their 2022 contract negotiations covering ocean containers shipping from Asia to the United States. The traditional contract period, May 1, 2022 through April 30, 2023, will bring many of the same challenges that have plagued the shipping industry over the last two years. Record high freight rates, insufficient container allocation, and…
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West Coast Port Strike Would be Devastating
Could congestion that plagued West Coast ports in 2021 actually get worse in 2022? That all depends on whether a new contract can be finalized between the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU). The current contract between the two entities expires on June 30, 2022. If a new contract is not reached, the congestion shippers…
CONTINUE READINGWill 2022 be a Repeat of 2021?
Shippers importing containers from Asia to the US have been faced with record high rate levels and severe congestion leading to supply chain disruptions for the last 18 months. Back in September, industry experts predicted the market would soften after Chinese New Year 2022. Unfortunately, those predictions are not coming true. It now appears evident that the first two…
CONTINUE READINGSupply Chain Concerns Will Dominate 2022
Shippers were hoping 2022 would bring some much needed relief to the U.S. supply chain. Unfortunately, early economic indicators are showing the current supply chain difficulties will last well into 2022. Some industry analysts are predicting that 2022 could actually be worse than 2021 for some importers. Record consumer demand in the Asia to U.S. market continues to be the…
CONTINUE READINGRates Expected to Remain at Inflated Levels in 2022
It is conceivable that spot ocean rates will slowly decline through December 31, 2021. While this is welcome news for shippers, the decline is likely to be short lived. In order to sustain reduction in rates, there needs to be major changes in the Asia to U.S. market. The recent reduction in rates is being attributed to temporary production issues in Asia. Blackouts due to…
CONTINUE READINGUS Supply Chain Participants Feel Defeated
One word best describes the US supply chain: BROKEN. There is the sense among supply chain experts that it’s too late for any meaningful solutions to be implemented that will positively impact getting goods delivered to store shelves for the upcoming holiday season. If such solutions existed, they would have already been implemented. Six months ago, it was thought that…
CONTINUE READINGShippers Scrambling to Meet Holiday Season Demand
The US supply chain delays have reached critical mass. The delays have reached a point where some shippers haven given up hope that their product will be available for the holiday season. This will be especially devastating to small shippers that rely heavily on holiday sales to survive. Three months ago, the big obstacle was finding space on container ships. While space is…
CONTINUE READINGPort Congestion Going from Bad to Worse
Carriers will be increasing capacity from Asia to US West Coast ports by 22 percent. The influx of the additional capacity will last through the end of the year. US East Coast ports will also see an increase in capacity through the end of the year by 14 percent. Carriers had hoped these additional measures would help shippers meet the surging demand which is expected to last…
CONTINUE READINGIHA Joins Coalition Backing Federal Bill Aimed at Curbing Unfair Ocean Shipping Practices, Charges
The International Housewares Association has joined a coalition of industry organizations in support of a new federal bill aimed at enacting sweeping changes to the law to curb unfair practices and charges by ocean carriers that have contributed to skyrocketing freight costs and extended delays for U.S.-bound containers. The Ocean Shipping Reform Act of 2021 is set to be…
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