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The Covid-19 pandemic has exposed hidden vulnerabilities in supply chains and manufacturing around the world, and raised questions about how these systems must be redesigned to remain competitive in future markets.
Q4 Air Cargo Rates from China Excepted to Increase
According to the TAC Index, the air cargo rate from Shanghai to North America for the week of Aug 24th dropped 10 percent to $4.52/kg, but was up 20 percent year-over-year. This is drastically lower than the record high of $12.27/kg we saw in May when the US began to reopen after COVID-19 lockdowns, which was a 270 percent year-over-year increase.
Container Shortages in Asia and Pacific Northwest Shippers Face Delays
Port congestion and continued railcar shortages will lead to shipments being delayed for up to two weeks on some trans-Pacific services to Vancouver and Prince Rupert that could last until mid-September.
