☕ Cargoccino is our bi-monthly post for logistics professionals and importers, delivering bite-sized industry news straight to your inbox.
You can stay informed while enjoying your favorite drink, with updates every 2nd and 4th Tuesday of the month.
IT Outage Shakes Supply Chains to the Core
A massive global IT outage sent shockwaves through the supply chain last Friday. Airlines were hit hardest, with widespread flight delays and cancellations. While seaports and inland transportation seemed less affected initially, experts warn of potential ripple effects in the coming days and weeks. This incident highlights the increasing vulnerability of global supply chains to technological disruptions.
Source: The LoadStar
US imports from Asia surging amid ILA fears
US imports from Asia are skyrocketing as businesses rush to beat potential disruptions caused by ongoing labor contract negotiations at major East and Gulf Coast ports. While import volumes dipped slightly from January's peak, they remain at near-record levels. With the current labor agreement set to expire in September, importers are taking no chances and stocking up early.
Source: JOC
Link to interact with image: https://www.joc.com/gateway/Asia_to_North_America#Ocean volume
Elections 2024: Shaping the Future of Supply Chains
In 2024, elections in the US and 75 other countries will significantly impact global supply chain policies. Trump stances on strengthening US manufacturing and being tough on China, using tariffs and subsidies, especially in green technologies and semiconductors. This global shift towards protectionism and the strategic use of subsidies is reshaping supply chains, moving away from the long-standing free-market consensus.
Source: Future of Supply Chain
Ports volumes return to pre-pandemic levels
Highlights
🚢 The Port of Long Beach processed the most cargo in June 2024, at 835,412 TEUs, and also saw the highest year-over-year increase (15.3%).
🚢 The New York, New Jersey port complex saw a 17% year-over-year increase in cargo volumes in June 2024. This is the sixth consecutive month of YoY growth for the port.
🚢 The Port of Houston also experienced significant year-over-year growth (21%) in June 2024. The port attributed this growth to investments near the port that are fueling cargo growth.
🚢 The Northwest Seaport Alliance saw a 31% year-over-year increase in cargo volumes in June 2024. The port attributed this increase to an increase in vessel calls and low import dwell times.
Other notable details:
⚓ Jacksonville saw a 37% year-over-year increase in loaded imports in May 2024.
⚓ Port Everglades is preparing for new leadership as cargo volumes rise. Joseph Morris became the new port director on July 15.
FMC Issues Final Rule on Unreasonable Refusal by Ocean Carriers
The FMC has issued a new rule to curb shipping line abuses. Carriers can no longer arbitrarily refuse cargo and must now disclose more details about their pricing and service plans. This move aims to create a fairer marketplace for shippers. The FMC hopes this rule will help address longstanding complaints about unfair practices in the shipping industry.
Source: FMC
What, you haven’t finished your back-to-school shopping yet?
Parents are budgeting about $586 per child for back-to-school supplies this year, according to a new Deloitte survey. While slightly less than last year, the overall spending is still expected to reach $31.3 billion. With Prime Day deals heating up, the race for school essentials is already underway.
Source: Deloitte Back to School Survey
SUMMER TO DO LIST
✅ Improve your vocab: EIR - The paper trail your container needs
✅ Travel Tip: What to do when you flight got canceled
✅ WATCH: What The Truck - Timohty Dooner asks Javier Vera at Toyota Material Handling Solutions and Aura (Aurelie) at BlueCargo about the first annual Port of LA/LB charity motorcycle ride.
☕ What is Brewing at BlueCargo? ☕
☕ On August 1st, Pedro Matias will be attending the Foreign Trade Association's importer bootcamp on customs regulations and procedures. This is a great opportunity to connect with him and learn how BlueCargo can assist you with customs fees.
☕ We're in the process of developing a innovative tool designed to assist you in managing those challenging non-compliant drayage fees. Keep an eye out for its launch this September!
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Asking questions doesn’t cost anything. You can schedule time with an expert and ask why BlueCargo could be a good fit for your business.
