Soaring freight rates and delivery delays have sparked a global backlash by companies frustrated about the destructive mix of deteriorating service and higher ocean shipping costs.
Johnson & Johnson will ship some COVID-19 vaccines ordered by the European Union to the U.S. for the last stage of production, raising concern among some member states that the bloc’s inoculation program could be hampered by further delays.
Freight companies are rejecting one in five contracts to take goods from France to the U.K. as border rules put in place after Brexit added to delays in moving goods across the English Channel.
Pirate attacks have pushed up insurance and other costs for shippers operating off West Africa, with some resorting to hiring escort vessels manned by armed navy personnel.
Challenge: A multinational oil and gas company relied on thousands of suppliers worldwide — including remote partners in Azerbaijan, Alaska and Angola — for time-critical materials. However, the company lacked adequate visibility and transportation management over it’s 60,000 purchase orders per year, resulting in incomplete deliveries, poor shipment-status insights and high administrative and process costs.
Orders fell almost 10% in 2019 and then more than 50% in 2020 to the lowest in at least two decades, IHS Markit data show. If activity doesn’t pick up, that could lead to a dearth of vessels and a spike in freight rates in a few years.
The latest news, analysis, services and systems regarding global logistics and freight and their impact on global supply chains. Today’s companies are transporting and delivering perishables and manufactured goods faster and farther around the world than ever before through global logistics solutions. New technologies that provide information during global shipments are transforming the way companies do business - and allowing them to stay ahead of the competition in their industries. As transportation and distribution services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using global logistics solutions to power their supply chains.
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