Patrick Penfield, a professor of practice in supply chain management and director of executive education at the Syracuse University Whitman School of Management, offers a view into supply chain congestion, delays and pricing for the remainder of this year.
In the midst of the worst global supply chain crisis in recent memory, some businesses are finding creative ways to get around severe congestion at seaports and inland freight terminals.
Trade-reliant Thailand plans to launch a national shipping company next year to bolster its trade capabilities, reduce transport costs and become a bigger player in global logistics as the Malacca bypass opens.
In any other year, expectations of strong sales for the upcoming holiday shopping season would be the fulfillment of a dream for retailers. Instead, it’s shaping up to be something of a nightmare.
The number of container ships waiting to enter the biggest U.S. gateway for trade with Asia reached an all-time high of 65 vessels late last week, carrying potential payloads of cargo boxes that would stretch halfway across the country if lined up end to end.
Shipowners and financiers should avoid sinking money into new container vessels despite a global crunch because record orders have driven up prices, according to industry insiders.
The global shipping industry is getting its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain that’s collapsing under the weight of COVID-19 drives freight prices ever higher.
The latest news, analysis, services and systems regarding ocean transportation and its impact on global supply chains. Today’s companies are transporting and delivering container shipments in a more efficient manner than ever before using new services and technologies that provide information en route - allowing them to stay ahead of the competition in their industries. As ocean cargo services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using ocean shipping solutions to power their supply chains.
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