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Red Sea Ocean Transport Disruption Update

Supply Chain Matters

As we have noted in this thread of updates, to a further extent, shipments from Asia eastward that traverse the Panama Canal are an important added backdrop to ocean transport disruption impacts. In parallel is the assessing of the related restricted ship transit volumes surrounding the Panama Canal because of low water levels.

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February 13, 2024 Update

Freightos

Judah Levine February 13, 2024 Optimize your logistics tendering, vendor selection, negotiations, and procurement with Freightos Data Book a Demo Weekly highlights Ocean rates – Freightos Baltic Index Asia-US West Coast prices (FBX01 Weekly) increased 11% to $4,859/FEU.

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2024 Predictions for Industry and Global Supply Chains- Prediction One

Supply Chain Matters

As 2024 begins, two of the world’s most critical ocean transit corridors, the Suez Canal , and the Panama Canal are facing threats of shipping disruption as global geopolitical tensions and terrorist threats escalate. Truck and rail transportation movements across the Mexico and U.S.

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Supply Chain Resilience: The Essentials And The Non-Negotiables

ThroughPut

Businesses can no longer afford to function based on a linear “push” model – where they procure raw materials, produce goods, and go to market with what they have, whenever they have it. You can minimize costs across the supply chain (procurement, production, and distribution).

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Global Wide Production PMI Levels Unchanged in February 2024

Supply Chain Matters

Noted was a sustained rise in production levels and a further drop in backlogs of work. Inventory management and cost control remains paramount including mitigating the risks of added disruptions in global wide ocean transport brought about by the Red Sea and associated Suez Canal diversions as well as Panama Canal transit time increases.

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Supply Chain Matters News Capsule Follow-Up September 1 2023

Supply Chain Matters

A new consideration to such shifts is a current development related to ongoing concerns toward increased lowered water levels in the approaches to the Panama Canal. The storm made landfall near Keaton Beach, Florida as Category 3 hurricane storm with maximum sustained winds of 125 mph. Gulf Coast or major East Coast ports.

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Added Alerts to a Warming Earth and Supply Chain Climate Change Mitigation Efforts

Supply Chain Matters

Once more, this does not solely apply to businesses, but also transportation and logistics services firms as well. As the BBC noted in its reporting last week : “ Small states like the Marshall Islands, Liberia and Panama have huge numbers of ships sailing under their national flags but they have no real responsibility for these vessels.”