Tropical storms, a surge in imports, and strong trucking volumes projected through September
Monday Morning Wake Up Call
September 13, 2020
Port restrictions set as Tropical Storm Sally eyes Gulf Coast
(FreightWaves) There is no rest for the weary as the 2020 Atlantic hurricane season shows no signs of abating anytime soon. Tropical Storm Sally — the eighteenth named storm of the season — could become the sixth hurricane of the season in a few days, just prior to landfall in the U.S. central Gulf Coast.
Surge In Imports Is Overwhelming the Distribution Network in the US and Driving Up Rates
(WSJ) Ocean container rates for cargo bound for the US continue to rise into record levels and capacity issues are causing delays both at the port of export and once the container arrives in the US port. With the peak season upon us this could get worse before it gets any better. Importers should act now to work with their freight partners to ensure their cargo moves as needed. Planning ahead will be the key to success but even so most importers can expect to see delays and everyone should expect higher costs in the coming weeks and months. Stay tuned.
Imports will continue to drive strong trucking volumes through September
(FreightWaves) According to the FreightWaves Ocean TEU Volume Index, bookings of U.S. imports from China are up 89% year-over-year (y/y) through next week, which is a good indication that freight volumes will continue to flow through the rest of September.
FreightWaves’ Greg Miller reported ocean shipping rates broke records, with 40-foot container rates eclipsing $3,700 in the spot market from China to the U.S. West Coast last week.
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