Cargoccino is our bi-monthly post for logistics professionals and importers, delivering bite-sized industry news straight to your inbox. Stay informed while enjoying your favorite drink, with updates every 2nd and 4th Tuesday of the month.
📈 U.S. Imports Surge: Record Growth Anticipated! 🌟
Stronger-than-anticipated import volumes at major U.S. container ports are defying expectations, leading to revised forecasts for continuous year-over-year growth into 2024. The National Retail Federation, surprised by sustained growth through the fall, projects a robust holiday season in 2023 and foresees substantial import growth in early 2024. This surge reflects a promising economic trajectory and challenges previous predictions, hinting at sustained momentum for the U.S. import market.
Source: The Maritime Executive
🚢 Shipping Challenges 2024: Overcapacity Hurts Carriers & Shippers ⚠️
In 2023, container shipping saw rate normalization and reduced port congestion, but service reliability remains a concern due to overcapacity. Carriers' measures to absorb excess capacity may strain schedule integrity, affecting shippers relying on predictable transit times. With larger vessels amplifying concentration at major ports, the trend suggests benefits for carriers under environmental regulations but increased challenges for shippers, setting a backdrop of heightened risk for 2024.
Source: JOC
💰 Hapag-Lloyd: Rate Increase from India & Pakistan to US East Coast 💼
Hapag-Lloyd announces a General Rate Increase (GRI) for shipments from India and Pakistan to the US East Coast. Effective from January 10, 2024, this increase amounts to $500 per container from India and $200 per container from Pakistan, impacting various container types until further notice.
Source: Container News
🛢️ DOE/EIA Diesel Prices Decline Amid Market Uncertainty ⛽
The Department of Energy's diesel benchmark witnessed its eighth drop in ten weeks, hitting $3.987 a gallon, signifying a substantial decline in recent weeks. Physical market indicators, like trading spreads and futures market volatility, hint at a possible continuation of this downward trend. Factors including narrowing spreads, rising inventories, and delayed winter weather, collectively contribute to ongoing diesel market fluctuations and potential inventory build-ups.
Source: FreightWaves
☕ What is Brewing at BlueCargo? ☕
🚢 Join BlueCargo at TPM24: Visit Our Booth & Book Ahead Your Meeting with us! ⚓
BlueCargo is excitedly preparing to greet you at TPM24, taking place from March 3-6, 2024, at the Long Beach Convention Center. Our booth is set to offer invaluable insights and exclusive chances to uncover strategies that can amplify your company's profitability within the current shipping landscape.
The BlueCargo team will be on hand to show you solutions tailored to your supply chain needs. As the theme of 'extreme normalization' takes center stage, this is your chance to delve into the market's realities and chart a course toward future success.
Book a meeting with us in advance.
See you at TPM24!
🚀 Meet BlueCargo at Manifest24: Uncover the Future of Supply Chain & Logistics! 🌟
Manifest24 is right around the corner, happening from February 5th to 7th, 2024, at Caesars Forum, and BlueCargo can't wait to meet you at booth 305, nestled by the puppy park.
This groundbreaking conference gathers the most visionary minds transforming the end-to-end supply chain and logistics landscape. Join us amidst this vibrant ecosystem of industry leaders, entrepreneurs, and investors shaping the future of logistics.
Excitingly, BlueCargo's CEO and co-founder, Alexandra Griffon, will grace the stage with news and updates—ensuring you don't miss a beat on the latest industry insights.
Maximize your Manifest24: Explore exclusive strategies at our Booth.Book a Meeting with our Team.
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HAPPY HOLIDAYS!
The BlueCargo Team!
