November’s LMI shows Continued Expansion in the Logistics Industry

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The Logistics Managers’ Index (LMI) is a survey of supply chain professionals that measures activity throughout the transportation, logistics, and warehousing sectors. November’s report shows that inventory levels and warehousing utilization are increasing, but at a slower rate than before. Inventory costs, warehousing prices, transportation utilization, and transportation prices are increasing, at a higher rate than before. And warehousing capacity and transportation capacity are contracting. To read the full report, go to the LMI website.

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Canaan Group’s Holiday Schedule

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Everyone at Canaan Group is wishing you an excellent holiday season, filled with joy, peace, and laughter. Please note our holiday schedule:

  • Christmas Eve (Dec 24) – Regular Hours
  • Dec 27 – 28 – Closed
  • Dec 29 – 31 – Regular Hours
  • Jan 3 – Closed
  • Jan 4 – Regular Hours

Experts say LA-LB Backlog Won’t Clear Until Mid-2022

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Last week there were 101 containers ships waiting outside the ports of Los Angeles and Long Beach. LA-LB ports are expected to handle 3 million more containers in 2021 than the previous year. A busy month used to be 800,000 containers per month, and during 2021, the ports have been handling 900,000 containers per month.

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Rebuilding after the BC Flood

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Last month’s torrential rain and flooding in British Columbia caused large disruptions to the movement of containers as well as shortages of food and emergency supplies. Thanks to the tremendous work of Transport Canada, CP Rail, CN Rail, the Port of Vancouver, the terminals, and everyone in the supply chain, we have been able to bring a level of normalcy to the movement of containers through the largest gateway in Canada. The Port of Vancouver has provided excellent daily updates on import rail performance, truck terminal turn times, vessel on-time performance, and more through their port dashboard.

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Elevated Trucking Rates and Tight Capacity to Persist in 2022

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While some believe that trucking rates will decrease in 2022, others are predicting that rates will stay high and capacity remain tight. Although consumer demand for physical products should decline in the new year, the retail and manufacturing demand to replenish inventory levels will persist. In addition, lower-value cargo is currently sitting while high-value goods are being moved, and that cargo will need to be moved in the new year, propping up demand. And despite increased demand, trucking companies are not interested in adding capacity that would diminish their pricing power and lower profits.

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Warehousing Space across North America at Record Lows

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Warehouses across North America continue to be at full capacity, largely due to persisting congestion at ports and in the supply chain. In our local Greater Vancouver market, Colliers reports that 3rd quarter warehousing vacancy rates are at 0.5%, a record low, and asking rents have increased 13.2% year-over-year and at an all-time high. There have been no vacancies of warehousing or logistics spaces over 50,000 square feet for two consecutive quarters.

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BC Flood Update: Railroads opening mid-week and highways still closed

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You’re probably seen the photos from the flooding in British Columbia. Between Nov 13-15th, up to 200 millimeters of rain came down on in some areas. On November 17th, a provincial state of emergency was declared and remains in place. Highways, roads, and railway tracks were damaged in the flooding, as seen in the photos we’re included in this post, shared by the BC Ministry of Transportation & Infrastructure. 

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Project Cargo Team Meetings in Croatia

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After two years of meeting virtually, our project cargo team was finally able to meet in person in Croatia last month. Although project cargo volumes have been down in the last 18 months during the pandemic, global activity has increased over the past 6 months with new energy plants, infrastructure projects, and machinery production resuming.

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BC Flooding Impacts Port of Vancouver

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In light of recent flooding in British Columbia, the Port of Vancouver has issued an update: All rail service coming to and from the Port of Vancouver has been halted due to flooding in the B.C. Interior as there is currently no transit between Kamloops and Vancouver. Both CN and CP Rail lines are assessing damage and will give a timeframe for re-opening once the assessments are complete. Flooding has also caused numerous highway closures throughout southwestern B.C. including all main routes to Metro Vancouver and Fraser Valley regions. These roadway damages are currently being assessed.

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Malcolm Gladwell on How Advances in Technology & Data make Decision-Making Harder

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Last month we joined over 5000 people across Canada to attend the Deloitte360 conference, where Malcolm Gladwell gave a thought-provoking keynote speech. Gladwell argued that although advances in technology and data analytics will make the quality of our decisions better, it will make the life of decision-makers much harder. To explain, he compared puzzles with mysteries. A puzzle is a problem caused by the lack of information. A mystery is a problem caused by an excess of information. The past was a world of puzzles and the future is a world of mysteries. Mysteries impose a heavier responsibility on decision-makers to sift through and make sense of the enormous mounds of data available.

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President Biden Announces Los Angeles Ports Operating 24/7

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Last week, President Joe Biden announced that the Ports of Los Angeles and Long Beach would both be operating 24/7 to ease supply chain bottlenecks. These ports handle 40% of shipping containers imported to the United States. During off peak hours, cargo leaves the port 25 percent faster. The president received commitments from major retailers Walmart, FedEx, UPS, Target, Home Depot, and Samsung to ramp up activities to utilize off-peak hours at ports.1

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Ways to Improve the Well-Being of Your Employees

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While the workplace can be a substantial source of stress on workers, research has found that how work is designed can have a significant impact on employee well-being, leading to improved job performance, lower health care expenses, and lower burnout rates.

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Air Freight Charter Rates Hit All-Time High

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As Black Friday and Christmas approach, desperate shippers have been paying up to $2 million for a trans-Pacific chartered flight. In pre-pandemic 2019 peak season, it would cost between $400,000 to $700,000.1

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Predictions for Trucking Inventory and Rates in 2022

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North American shippers will see some relief once the busy 2021 holiday season ends, but not as much as past years. 2022 will see consumer spending drop, especially as government rent relief and fiscal stimulus are reduced or removed. But retailers and manufacturers will be working on replenishing record-low inventory levels back to normal. While transportation capacity is expected to be more readily available in 2022, there will be enough freight demand to keep prices higher than past years.1

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Are Delivery Droids the Solution to Last-Mile Delivery Bottlenecks?

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Worldwide e-commerce sales have grown six times in the last decade, from $572 billion in 2010 to $3.5 trillion at the end of 2019. This trend has only been accelerated by the COVID-19 pandemic. With more people relying on e-commerce for their daily needs, last-mile delivery systems are becoming the bottleneck, especially with increasing delivery traffic and shrinking labour availability.

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US Port Congestion Gets Worse

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During the last weekend of August, there was a record 47 container vessels waiting outside the ports of Los Angeles and Long Beach.1 When ships are anchored offshore waiting for an available berth, they miss subsequent departure dates. This leads to cancelled sailings, reduction in much-needed capacity, and slowdown of container and chassis circulation, which adds to the upward pressure on already record-high rates.2

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