March 6 – March 13, 2014
FastFreight is a weekly review summarizing the ten major events or stories of the past week in logistics and the supply chain. We know you’re busy so each post is under 500 words. Enjoy! Want to get this to your inbox? Be sure to sign up from the right sidebar!
As shipping rates continue to jump about (but usually sink), fewer companies are managing to eke out long-term, multi-year contracts for shipping.
Rate volatility is fine compared to the ongoing tension in Ukraine. Local farmers, worried about future instability, are holding back on shipping grain out.
The Loadstar reports on the problems that surfaced at TPM regarding these alliances, including changing schedules, out-dated equipment, terminal challenges and more.
Executives at the Los Angeles World Cargo Symposium said that the more freighter planes in the future are unlikely but that, as a whole, the industry will continue to grow, if not at the 4-5% pace set in the past.
The chairman of COSCO has said that it will take more time for the industry to turn around. Ma Zehua told Reuters that with overcapacity remaining a critical issue, COSCO experienced a 71% decline in net profit last year. Urk.
Fighting slumps in growth, Indonesia is investing almost $700 million dollars in becoming a gateway port, looking to double container handling to 1.2 million TEUs/year.
Bad weather at other ports has led to ten diversionary calls to DP London Gateway since Christmas. Combined with its capacity for mega-ships, London Gateway is getting even more traffic…and has invested in quad-lift systems to increase efficiency and contend with container influx.
Professor Dani focuses on supply chain risk management and is proof of the growing need for both pro-active and reactive risk management in increasingly complex supply chains. Very cool profession.
Nearly every week we discuss greener shipping options, including natural gas. It looks like the industry may have over-sold itself though, as natural gas shortages are occurring as a result of high demand. Experts predict it will rise another 33% by 2020.
The captain of the Queen Mary II, Kevin Oprey, donned his whites and a lifejacket to take these amazing photos in front of his ship. Click to see the full set.
We also recommend taking a look at our Great Freight Experiment, where we asked the top 15 freight forwarders around the world for price quotes for shipping. The results did not impress us. By the way, did you know you can get these right to your email inbox? Sign up by clicking the box on the right!