Gordon Downes, chief executive officer of NYSHEX, discusses how ocean service contracts can be fashioned to include actual commitments on the part of both carriers and shippers.
Logistics experts are busy considering ways in which their supply chains can be redesigned so as to avoid the kind of congestion that has brought international goods movement to a virtual halt at major ports. But in the meantime, the system is crying out for some form of immediate relief.
U.S. importers, straining under a tapped-out supply chain, are increasingly offering top dollar for long-term shipping contracts that may not even be honored as they try whatever it takes to guarantee the arrival of their products.
Global supply strains that started to ease in early 2022 are worsening again as headwinds strengthen from the war in Ukraine and China’s Covid lockdowns, threatening slower growth and faster inflation across the global economy.
Ocean cargo handlers are scrambling for solutions to the congestion that continues to plague major U.S. container ports, especially Los Angeles and Long Beach. But the ultimate answer might lie in something beyond their control: time.
The $5.25 billion expansion of the Panama Canal doubled its capacity in 2016, allowing the world’s largest cargo ships to sail more easily to America’s East Coast from Asia. Now, one of those giant vessels has been stuck near the U.S. capital for more than a week.
Evergreen Marine Corp. has hired the company that freed the giant container ship Ever Given last year when it ran aground for almost a week, disrupting global trade for months, to do the same with its vessel stranded near the U.S. capital.
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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