Peter Friedmann, executive director of the Agriculture Transportation Coalition, describes the “transportation crisis” that exporters are facing today, as they struggle to secure containers for their shipments to Asia.
These are tumultuous times for the ocean container trades between Asia and the U.S. Freight rates are persistently high, port congestion is slowing the movement of goods, and shippers are complaining about cancelled sailings and a shortage of equipment.
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.
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.
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.
Crowley Logistics has added 355 new refrigerated cargo containers to its equipment fleet to ensure equipment availability at origin for perishables moving through the cold chain.
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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