Ocean freight shipping rates are expected to rise even further in February, according to a recent data release by Xeneta, a leading ocean freight rate benchmarking and intelligence platform. The forecast comes amid the ongoing crisis in the Red Sea, with tensions in the region showing no signs of abating. The Red Sea crisis, which […]
Last week, FreightWaves hosted its monthly State of Freight Webinar, which was moved to a virtual format due to frozen roads in Chattanooga, Tennessee. The deep freeze in the middle of the country not only impacted the two regular participants from attending, but it also may have had an effect on freight markets. The winter […]
The Red Sea Crisis: Container Ships Forced to Take Lengthy Detours The world of shipping has been rocked by yet another attack on a commercial ship in the Red Sea. The Genco Picardy, a bulk carrier owned by New York-based Genco Shipping & Trading, was hit by Houthi rebels on Wednesday, followed by a barrage […]
Cushman & Wakefield’s recent data shows a significant rise in U.S. warehouse vacancies, reaching 5.2% in the last quarter of 2023. This marks a notable increase from the 3.1% vacancy rate during the same period the previous year, highlighting the most substantial availability of warehouse space since the pandemic began. The U.S. witnessed a sharp […]
The recent upheaval in the Red Sea is leading to a significant increase in the demand for additional ships among container lines. The heightened security concerns, especially due to recent air strikes in Yemen, have caused a notable surge in spot container freight rates. As a result, container lines are facing higher costs for ship […]
In recent years, supply chain leaders have navigated a tumultuous landscape, marked by unprecedented challenges and innovations. The onset of the pandemic initially threatened to collapse demand for a wide range of goods and services, following an initial surge in purchases like toilet paper. However, a rapid shift occurred as the demand for goods soared, […]
The Federal Maritime Commission (FMC) has scheduled an informal public hearing for February 7, 2024, focusing on the impact of Red Sea and Gulf of Aden conditions on commercial shipping and the broader global supply chain. This hearing will offer a platform for supply chain stakeholders to discuss the impact of recent attacks on commercial […]
Considering recent security concerns in the Red Sea, particularly acts of terrorism, we would like to update you on the coverage provided under the Woodland Global All Risk Policy. The safety and security of your cargo remain our top priority. We are actively monitoring the situation and taking all necessary precautions to ensure the safe […]
While robotic trucks struggle on public highways, they’re making significant strides in controlled environments like freight yards, warehouses, and seaports. In the logistics industry, autonomous technology is increasingly prevalent, particularly in areas removed from the challenges of open-road travel. For example, Kimberly-Clark has effectively utilized hundreds of self-driving forklifts to maintain supply chain flow for […]
In a regrettable event that underscores the critical importance of stringent safety standards, the FAA has initiated a probe into Boeing’s compliance with design and safety regulations. This action stems from an incident involving a Boeing 737-9 MAX, which experienced the loss of a “plug” type passenger door among other issues. Boeing is now under […]
