Weekly Logistics News Headlines: Peak Season Begins
As peak season begins, supply chains continue to face challenging circumstances.
The Meishan terminal at the Port of Ningbo has reopened two weeks after a detected coronavirus infection among workers forced its closure. The world’s third-busiest port complex lost 25 percent of its capacity for a fortnight. The port returned to full operation Wednesday, but the effects of the closure are likely to worsen delays and capacity on transpacific routes. Recovery from the Ningbo closure comes on the heels of a similar shutdown at Yantian that lasted nearly a month.
A report from The Loadstar indicates that container rates have soared as much as 180 percent in the wake of the June closure of the Port of Yantian. The Container Availability Index from Container xChange reports that prices have surged from just over $5,000 to north of $15,000. The report points to similar effects to come from similar coronavirus lockdowns at Ningbo and Vietnam.
Maersk has pushed ahead in its quest for carbon-neutral operations with an order for eight methanol-fueled vessels. Reuters reports that each vessel will have a 16,000-TEU capacity and will be delivered in 2024.
A report from American Shipper outlines the comprehensive challenges faced by supply chains this peak season. Growing delays at west coast ports, worsening congestion at inland rail hubs, coronavirus shutdowns across the pacific, and domestic truck driver shortages all spell higher costs and poorer service.
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