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Demo Perez and Joe Lynch discuss Panama: the logistics engine of Latin America. Demo is a Founding Partner and Chief Commercial Officer of IPL Group , a Panama based 3PL that helps companies expand their business into the Latin American market by simplifying order fulfillment and regional distribution.
Freight Rates 2019-2021. As a result, companies plug along planning based on historic lead times and freight rates which as you can imagine is doomed for failure. Net/Net: The Panama Canal cannot handle the largest ships, and moving a vessel through the Panama canal increases the cost of a container by approximately $8,000.
If Logistics Services Providers (LSPs) and shippers thought 2024 was going to be smooth sailing, the dual impact of the ongoing Panama Canal congestion and Red Sea shipping attacks has been a rude awakening with severe delays in container transportation, higher costs of ocean freight, and unpredictable departure and arrival times.
A drought in Panama significantly reduced transits of larger Neopanamax-class container ships in November and December, with transit constraints intensifying last month. Container vessels that traditionally used the Panama Canal to bring Asian goods to East and Gulf Coast ports switched to the Suez Canal. percent year on year.
The Panama Canal opened a new lane for larger ships this week, and East Coast ports have been expanding efforts to attract Asian imports that would otherwise arrive on the West Coast. Expansion at the Panama Canal, pictured above, has led to a business boom in South Carolina. Photo by Stan Shebs. That lane paid an average of $3.09
Wouldn’t it be amazing if someone could cut through the hype and summarize the key freight and logistics trends every month? Short Term Medium Term Special Feature Carriers & Cargo Innovation Freightos focus November 2015 freight and logistics trends that rate. GET INSTANT INTERNATIONAL FREIGHT QUOTES. Keep reading.
The number of vessels waiting to cross the Panama Canal has reached 154, and slots for carriers to book passage are being reduced in an effort to manage congestion caused by ongoing drought conditions that have roiled the major shipping gateway since the spring. And now on to this week’s logistics news.
More Resources Home October 31, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Judah Levine October 31, 2023 Unbox your Freight knowledge.
For enterprise forwarders and carriers, the marching orders for Q2 appeared to be freight visibility, as a number of companies unveiled solutions to enhance cross-supply chain visibility of shipments. Meanwhile, Uber Freight formally launched its product, while continuing to face strong competition from other on-demand trucking startups.
He was deployed to Iraq in 2006 and 1990, and Panama in 1991. With an intelligent ecosystem of products and services, Trimble Transportation enables customers to embrace the rapid technological evolution of the industry and connect all aspects of transportation and logistics — trucks, drivers, back office, freight and assets.
A severe drought affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer.
billion Panama Canal expansion project was completed. This time last year, the $5.25 The canal reopened with a new set of locks on both the Atlantic and Pacific sides for ships to easily flow through the canal without risk of delay due to accident or various water levels. During the expansion, there was also an. Read More.
Freight Rates 2019-2021. As a result, companies plug along planning based on historic lead times and freight rates which as you can imagine is doomed for failure. Net/Net: The Panama Canal cannot handle the largest ships, and moving a vessel through the Panama canal increases the cost of a container by approximately $8,000.
What’s happening in the Panama Canal 2023? The Panama Canal, a crucial 50-mile waterway that six percent of all global trade passes through, faced major traffic jams this month due to a historic drought. How long will the Panama Canal drought last? Which countries are impacted by the Panama Canal drought?
The ability to use multiple ports of entry is key for shippers because there are unexpected disruptions at ports because Panama Canal issues, labor problems, and shifting regulations at the ports. Whether you’re a small, local business or a multinational corporation, we can help you reach new levels of success.
Cleo’s solutions empower teams to drive business agility, accelerate onboarding, facilitate the modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies.
More than over $6 billion dollars’ worth of freight moves through the sea ports in the United States every day 1. The Panama Canal expansion has ignited many sea ports to update their infrastructure to accommodate an expected increase in freight volumes. READ MORE.
New Panama Canal Options: Running the Numbers with a TMS.Connect by TMC. When the expanded Panama Canal opened this June, a new set of routes became available for shippers and beneficial cargo owners (BCOs). As described in my previous blog post , the enlarged Panama Canal can handle container ships up to 13,000 TEUs in size.
The ocean freight industry uses many acronyms to describe a shipment’s routing. Here are some of the most common ocean freight routing terms that are important to know. . For example, a shipment from China to the East Coast would go through the Panama Canal to reach its destination and vice versa. . Inland Point Intermodal.
More than over $6 billion dollars’ worth of freight moves through the sea ports in the United States every day 1. The Panama Canal expansion has ignited. 10/20/2015. Distribution. Supply Chain. Transportation. Distribution, Transportation, Supply Chain, Global.
I’m on borrowed time this morning, so let’s go straight to the supply chain and logistics news that caught my attention this week: DAT Freight Index Hits All-Time High in September. The Panama Canal’s Big Bet Is Paying Off (WSJ – sub. Spot freight availability was 74 percent higher than in September 2016.
Panama Canal Expansion. The Panama Canal expansion, slated for completion this spring, will impact logistics in a big way. You can read more on the topic in our recent white paper, Wide Open: How the Panama Canal Expansion Is Redrawing the Logistics Map [DK1] , which was written collaboratively with Boston Consulting Group.
In June 2016, the Panama Canal will double its capacity, and this capacity expansion will undoubtedly reshape the freight flows around the globe, including those transiting through the Port of Los Angeles (click here for a past blog related to this subject). Guillaume Roels. million worldwide.
More Resources Home TPM24: Key Takeaways on Geopolitics, Technology and Other Drivers of Ocean Freight in 2024 Judah Levine March 27, 2024 S&P Global’s TPM24 is the major annual North American gathering of shippers, forwarders, carriers and logistic technology providers. You can read the report and see our short webinar on the topic here.
James Winebrake, Dean of College of Liberal Arts, Rochester Institute of Technology There are a number of important trends happening in the freight industry, spanning all modes of transportation: trucking, shipping, rail, pipeline, and air. Lastly, air freight has been increasing rapidly over the past decade - a trend I suspect will continue.
Since taxes are paid on the value of the product plus freight and other costs, high-value goods such as luxury items are particularly sensitive to these logistics factors. Prior to the project, Panama as a consolidation center was an obvious choice due to its proximity to Brazil.
If the attacks continue, this crisis could trigger inflation due to higher global freight and insurance rates, along with supply chain disruptions. #5 Increased Shipping Rates from Red Sea Crisis The Red Sea crisis is expected to keep freight rates elevated through at least February. The disruptions primarily affect U.S.
Cargo Owners for Zero Emissions Vessels (coZEV) launched the Roadmap to 2040 which includes the creation of a new maritime freight buyers alliance, a cargo owner policy coalition, and a green corridor advisory board to enable full decarbonisation of ocean freight.
More Resources Home November 7, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. America weekly prices increased 21% to $5.72/kg
The Panama Canal Expansion: The Impact on Logistics Strategies and Operations (2,057 views). The Rebirth of Transportation Marketplaces (UberCARGO, Cargomatic, and Freight Friend). Market Fluctuations in the Oil and Gas Industry: A Catalyst for Supply Chain Improvement (2,327 views). What Are Other Shippers Doing?
More Resources Home April 9, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. America weekly prices decreased 13% to $3.66/kg Europe – N.
Rerouting those goods to the West Coast is challenging because it could require difficult-to-find transit through the Panama Canal, air freight, or other time-consuming or costly measures, logistics experts said. However, with capacity limited and demand rising, air freight may only be a viable option for specific types of cargo.
Blog " * " indicates required fields Email * More Resources Home August 23, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market.
10 questions about Freight Spend Management. There are numerous ways a shipper can reduce freight spend. And freight costs are continuing to rise, pushed upward by factors such as globalized distribution and unpredictable fuel prices. This is an important aspect of managing freight spend. Netherlands Antilles.
As a result, widespread reroutings of ocean container traffic away from the Suez Canal continue, and ocean freight rates have begun to spike. This dispatch includes an update on the attacks and the ensuing implications for global freight. The number of impacted Asia – N. Freightos Terminal data shows that Asia – N.
Its proximity to the Port of Long Beach creates a maritime cluster that supports flexible supply chains with ready access to 14 major freight hubs across the US. It's a dream Nicaragua has had since they lost to Panama back in the early 1900's. It saw an 8.2% Nicaragua is considering building its own canal.
freight and logistics industry continues to mitigate recessionary conditions and that was reinforced by the April 2023 Logistics Manager Index (LMI) reaching its lowest level lowest level in six and one-half years. This survey was conducted in May among participants in the global freight forwarding community.
Freight Truck Orders Plummeted 48% in January ( WSJ – sub. Panama Canal expansion to be complete by end of June ( Reuters ). A complete transportation solution, Kuebix TMS streamlines every aspect of the logistics process from shipment booking to freight audit and carrier pay. UPS Delivers Peak Profits.
The Related Concern The related concern is the ongoing drought conditions in the areas surrounding the Panama Canal which for weeks have restricted the volume of vessels that can transit this canal because of the low water levels in the staging basin area. container traffic travels through the Panama Canal every year.
So, while the West Coast situation may cause a minor up-tick in freight being routed to the Eastern Ports (Eastern freight is up from 38% in January to 41% in May, according to Hackett Associates), it won’t go a lot higher because the Eastern routes have been running near capacity for several months and are now basically full.
More Resources Home March 19, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. China – N. Europe weekly prices increased 32% to $3.93/kg.
Consider moving critical products via air freight and/or using a sea-air option to minimize the impact of increased costs. There is also a good possibility that carriers might discharge cargo at the main transship points of Panama, Cartagena, and Colon and declare force majeure.
More Resources Home July 2, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. China – N. Europe weekly prices fell 13% to $3.75/kg.
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