Portland’s Port Authority has announced the cessation of container services at Terminal 6 (T6) starting October 1st, 2024. The decision, outlined in a letter to Oregon’s importers and exporters by Keith Leavitt, the port’s Chief Trade and Economic Development Officer, comes amidst mounting financial losses and unsuccessful efforts to secure a third-party operator. Terminal 6 has been hemorrhaging funds, with projected losses of $13.7 million in 2024 following a $13.2 million deficit in the previous year. This financial strain, exacerbated by a 43% decline in container volumes from July 2023 to ..read more

Whether you’re a frequent online shopper eagerly awaiting a delivery or a logistics coordinator orchestrating the movement of goods, you’ve likely encountered the humble ZIP code. But beyond its appearance on packages and shipping labels, ZIP codes wield significant influence in the intricate world of shipping logistics. Let’s delve into the critical role ZIP codes play in streamlining shipping operations and optimizing efficiency. Understanding ZIP Codes ZIP, short for “Zone Improvement Plan,” was introduced by the United States Postal Service (USPS) in 1963 as a solution to the challenges of ..read more

The ongoing disruptions in the Red Sea shipping lanes are prompting a significant shift in global logistics strategies, leading to a marked increase in airfreight volumes and rates. As geopolitical tensions and attacks on maritime vessels exacerbate the challenges of ocean freight, businesses across various sectors are increasingly turning to air transport as a reliable alternative for moving goods. The redirection of cargo from sea to air is a response to the pressing need for timely delivery amidst the uncertainties plaguing traditional shipping routes, particularly those through the Suez Ca ..read more

The Canada Border Services Agency (CBSA) is moving forward with its digital transformation initiative, known as CARM (CBSA Assessment and Revenue Management), which will significantly change how duties and taxes on commercial goods imported into Canada are assessed and collected. This initiative is part of CBSA’s broader efforts to modernize and streamline customs and trade processes, aiming to enhance efficiency and security in the importation of goods into Canada. Overview of CARM: Initial Launch (2021): Phase one introduced the ability for importers to view transactions, make online paymen ..read more

The incident involving a large containership crashing into the Francis Scott Key Bridge in Baltimore has caused significant disruptions and initiated a large-scale search-and-rescue operation. This event has severe implications for one of America’s busiest ports, leading to the suspension of all vessel traffic in and out of the Port of Baltimore and impacting the flow of goods and traffic in the region. The collision occurred early in the morning and involved the Singaporean containership, the Dali, which was en route to Sri Lanka. The incident led to the bridge’s partial collapse, sending veh ..read more

The recent spike in spot ocean freight rates, contrasted with a cautious approach towards long-term contracts, illuminates a series of interconnected challenges and strategic maneuvers within the global shipping industry. This situation, fueled by geopolitical tensions and environmental factors, has led to significant disruptions in traditional shipping routes, particularly highlighted by the diversions around the Red Sea and the drought affecting the Panama Canal’s operational capacity. These disruptions have not only caused immediate spikes in spot rates due to increased operational costs an ..read more

The US trucking industry is currently facing a complex set of challenges and adaptations, characterized by companies working for lower rates while simultaneously handling an increased workload. According to a recent survey by Truckstop.com involving more than 2,000 motor carriers, trucking companies in 2023 drove an additional 3,000 miles on average and managed two extra loads each month. This surge in workload has contributed to an apparent surplus in truck capacity, despite the significant number of small trucking firms exiting the industry. Federal Motor Carrier Safety Administration (FMCSA ..read more

Yellow Corp., formerly known as YRC Worldwide, has recently repaid the $700 million COVID-relief loan it received from the U.S. Treasury in 2020, along with over $151 million in interest, as per a statement released late Monday. This development is significant in the context of the controversies surrounding the loan, its terms, and Yellow Corp.’s financial struggles. The loan, part of the CARES Act designed to assist companies with liquidity needs due to COVID-related business disruptions, was criticized by some as an unwarranted bailout. Yellow Corp. qualified for the loan under a special pro ..read more

For the first time in 19 months, transportation prices in the United States have shifted to expansion, driven by retailers’ increased inventory restocking. This development was highlighted in a recent Logistics Managers’ Index (LMI) report released on Tuesday. The LMI, a collaborative effort among several universities and the Council of Supply Chain Management Professionals, measures various aspects of the logistics industry. In January, the index rose by 5 percentage points to 55.6, indicating growth across all eight of its components. An LMI reading above 50 suggests expansion, while a readi ..read more

The recent crisis in the Red Sea has had a significant impact on global shipping operations, particularly affecting the Mediterranean Shipping Co. (MSC) and its services out of India. Due to growing security concerns in the Red Sea region, MSC has made substantial changes to its shipping routes and services. One of the major changes involves the discontinuation of the “Indusa” service, a key route between West India and the US East Coast. This service was initiated in September 2020 and included port rotations from Mundra, Nhava Sheva, Colombo, Valencia, New York, Savannah, Norfolk, and back t ..read more