Industrial Demand Remains High in North America

coracle News

The continued robust demand for industrial construction in North American has driven up overall costs and material lead times. The construction industry is still feeling the lingering effects of the pandemic.

The End of the 2M Alliance between MSC and Maersk

coracle News

MSC (Mediterranean Shipping Co.) and Maersk announced that their 10-year 2M Alliance will end in January 2025. The two carriers currently have a complex partnership that covers 30 loops and strings on all major trade lanes.

19% of Sailings Cancelled between Jan 30 – March 5

coracle News

According to Dewry’s cancelled sailings tracker, 131 blank sailings have been announced between between Jan 30 – Mar 5 (week 5 to week 9). This is out of a total of 693 scheduled sailings across the major trade routes of Transpacific, Transatlantic and Asia-North Europe & Med.

5 Ways to Improve Supply Chain in 2023

coracle News

TEC Canada featured a great interview with Schulich School of Business professor M. Johnny Rungtusanatham, who offers some practical advice on improving your supply chain in 2023.

Trucking in 2023 bottoming out

coracle News

Analytics are predicting that trucking rates are bottoming out. Some key leading indicators like internal truckload freight index and a spot rate data set, have stopped falling. Morgan Stanley’s forecasting tool is now showing that truckload spot rates will move 15% higher over the next 12 months. FreightWaves National Truckload Index shows spot rates have increased 20% from a mid-November …

How much does ChatGPT know about shipping?

coracle News

ChatGPT is all the rage these days. If you haven’t heard of it, it is a prototype artificial intelligence chatbot which specializes in dialogue. Journalist Hariesh Manaadiar decided to test ChatGPT’s knowledge about global shipping by asking it, “What to do if I lose my original ocean bill of lading?”

ZIM Invests in Fintech to Provide Easy Financing for SMEs

coracle News

Israeli carrier ZIM has teamed up with venture capital firm Team8 to invest in Tel Aviv-based fintech company 40Seas, with $111 million in funding. 40Seas is creating a global commerce solution for SMEs (small and medium-sized enterprises) to access digital financing.

Logistical Bottlenecks to Fully Normalise by April 2023

coracle News

The global pandemic in 2020-2022 disrupted normal operations in global logistics. The 100 vessels waiting outside the Los Angeles ports and other disruptions reduced global capacity by 13.8% in January 2022. During normal circumstances, only 2 percent of capacity is held up.

Chinese New Year to Cause a Slowdown in Shipments

coracle News

Chinese New Year begins on January 22, launching China into its longest holiday of the year and creating a slowdown in shipping for the next two weeks. This year is the Year of the Rabbit, which symbolizes longevity, peace, and prosperity.

3 Ways to Lead Well in a Bad Economy

coracle News

We wanted to highlight an excellent article from Harvard Business Review titled How to Be a Good Leader in a Bad Economy and share our takeaways. It seems like the world has just survived the Covid-19 pandemic only to enter a recession, and compounding crises make people more vulnerable. Normal “leadership principles” are not working and possibly making things worse. …

Report: Driver Shortage in Europe to Triple by 2026

coracle News

The IRU released a new report showing that truck, bus, and coach driver shortages in Europe could triple by 2026 if there is no action taken. The need for drivers continues to increase, with a 44% growth in demand from January to September this year. By 2026, 30% of current drivers are expected to retire. But few young drivers are …

Import Declines Expected for First Quarter of 2023

coracle News

The National Retail Federation is forecasting at 15% decline in container imports for the first quarter of 2023. After peaking in May 2022, imports have been dropping because retailers have built up inventories earlier in 2022 after experiencing delays in 2021. Also, consumer demand has been slowing down as a result of higher inflation and interest rate hikes.

The Port of Vancouver’s Podcast

coracle News

Did you know that the Port of Vancouver has a podcast? Breaking Bottlenecks just finished Season 2 which includes 5 episodes that explore bottlenecks in global trade and supply chain logistics. The podcast looks at “the intricacies, infrastructure and innovations that connect Canada’s businesses and communities with the world, as seen through the inner workings of the Port of Vancouver.”

China Opening Up as Covid Restrictions Lifted

coracle News

As China shifts away from a zero-Covid policy and eases restrictions, the leadership will be prioritizing economic recovery in 2023. This comes as China reported its monthly trade data for November, which was the lowest in two and a half years.

CMA CGM Group acquires New York and New Jersey Terminals

coracle News

CMA CGM will acquire GCT Bayonne terminal in New Jersey and GCT New York terminal, solidifying their position as a top East Coast gateway to the U.S. Both terminals have a combined 2 million TEU capacity per year, with the opportunity to expand and double that capacity. If the deal clears, they would own seven terminals in the U.S.

Q3 Trucking Demand Remains Strong

coracle News

Driven by strong demand, truck capacity is close to its highest level in 10 years. The JOC Index measures actual trucks at large publicly owned truckload carriers, and was at 92.8 in the third quarter, which is the second highest index score in the last 10 years. Only the second quarter of 2022 scored higher at 93.2.

Survey: Supply Chain Disruptions Are Not Over Yet

coracle News

The results of a recent SAP survey of senior business decision-makers show that supply chain disruptions are not over yet: 52% think their supply chain needs much improvement 49% expect current supply chain issues to last to the end of 2022 33% say issues will last until summer 2023