News
Logistics Recap April 30th – May 6th
Logistics Recap
April 30th – May 6th
Ocean carriers: Keep rail storage fee disputes at STB
A coalition of 75 shipper groups — led by the National Customs Brokers & Forwarders Association of America, the National Industrial Transportation League, and the National Retail Federation — appealed this week to lawmakers to clarify that railroads should be billing ocean carriers, not shippers, for overseas import containers that the railroads pick up at the ports and transport to and store at rail yards throughout the country.
UPS cuts air network as demand moves towards ground transport
UPS is cutting costs in its air network as more shippers shift to the company’s ground transportation services, CFO Brian Newman said on the company’s April 25 earnings call.
In UPS’ U.S. domestic segment, average daily air volume declined 16.7% YoY in Q1, while average daily ground volume declined just 3%, Newman said.
Read More Here Supply Chain Dive
Second oil tanker seized in Iran
Iran seized a second oil tanker in less than a week, ratcheting up tensions for shipping in one of the world’s most vital trade corridors.
Iran’s Islamic Revolutionary Guard Corps Navy intercepted the Panama-flagged oil tanker Niovi at around 6:20 a.m. local time May 3 as it was transiting the Strait of Hormuz, according to a statement from the U.S. Navy. The first tanker had been seized in the Gulf of Oman on April 27.
Logistics Recap April 23rd – April 29th
Logistics Recap
April 23rd – April 29th
Trans-Atlantic shipping rates keep sinking as imports from Europe fall
The trans-Atlantic westbound trade has been a star performer for container lines over the past year, a bright spot amid a global slide. Europe-to-U.S. rates have been an outlier, staying far higher than those in the trans-Pacific trade and — until recently — far exceeding pre-COVID levels.
That premium is still there, but it’s shrinking fast. Europe-East Coast spot rates continue to steadily decline, following the same pattern previously seen in the other mainline trades. The only difference is a time lag.
5 California ports pledge to build data-sjaring system for cargo fluidity
Five of California’s largest ports have agreed to advance a data-sharing partnership to better coordinate freight movement and improve resilience.
The ports of Los Angeles, Long Beach, Oakland, San Diego and Hueneme signed a Memorandum of Understanding on Wednesday to launch the California Port Data Partnership. Ports will now work to advance a cloud-based system aimed at standardizing data and boosting cargo fluidity.
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U.S. demands Iran release oil tanker seized in Gulf of Oman
The U.S. demanded that Iran release an oil tanker siezed while hauling crude through the Gulf of Oman, the latest flare-up in one of the world’s important waterways.
Iran’s navy seized the Marshall Islands-flagged Advantage Sweet in international waters at about 1:15 p.m. local time April 27, according to the U.S. Navy. The vessel issued a distress call, and the U.S. Fifth Fleet is monitoring the situation.
Logistics Recap April 16th – April 22nd
Logistics Recap
April 16th – April 22nd
Forklift-fueling hydrogen network holds long-haul trucking potential
One of the drawbacks of hydrogen adoption as a transportation fuel is the lack of infrastructure. Guess what? A network of hydrogen fueling already exists.
It’s true that what exists is primarily dedicated to material-handling fuel cell-powered forklifts. The majority of those are located at distribution centers and warehouses for retail giants Amazon and Walmart.
Air cargo shreds paper trail in dustry push toward digitalization
Air cargo carriers are pushing customers to use electronic air waybills, which experts say are key to improving processes, increasing shipment visibility and eliminating errors.
Earlier this year, for instance, IAG Cargo implemented a charging fee for using paper AWBs as the company strives to digitize its operations and procedures.
Read More Here Supply Chain Dive
Tanker company moving RUssian oil loses insurance over G-7 cap
An oil tanker company heavily involved in moving Russian oil lost industry standard insurance for its fleet after falling foul of a Group of Seven price cap relating to the transportation of the nation’s barrels.
Gatik Ship Management lost so-called protection and indemnity (P&I) cover that was provided by the American Club, a person familiar with the matter said, declining to be identified discussing sensitive information.