Weekly Logistics News Headlines: May 20, 2022
A line of vessels has grown outside the Port of New York and New Jersey. The busiest port on the East Coast is the latest complex to see queue grow out of congestion. According to the Wall Street Journal, an average of 14 vessels per day were waiting outside the port last week. The report states that empty containers waiting to return overseas are primarily to blame for the worsening congestion.
The re-opening of Shanghai threatens to send a wave of containers toward the U.S. The Loadstar reports that approximately 265,000 TEU of delayed containers could come rushing to west coast ports. The wave could coincide with what many expect to be an early peak season.
Sinking spot rates are squeezing small, independent truck truckers through the first half of 2022. After two years of favorable market conditions, new challenges are likely to shrink the number of operators. The Loadstar explains in greater detail with its reporting.
The Indonesian is rolling back a palm oil ban that it had enacted earlier this month. Indonesia is the world’s top pam oil exporter and its ban had drastically affected prices for a range of goods. Splash 247 reports more.
Sign up below for weekly logistics headlines delivered to your inbox.