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Dear Clients, Carriers are continuing their deployment of sweeper vessels to clear the backlog at main Chinese origin ports. This has helped take the pressure of rates and the aggressive price hikes which have been impacting the market for several months. It is somewhat a little surprising given its Golden week holiday next week, as carriers normally use this time to limit services to decrease supply of capacity. Despite the welcome news of the sweeper vessels, carriers have once again announced another round of increases after the Golden Week Holiday in the last push for pre-Christmas shipments. See the figures below in the table.  As always, Transways will only be adjusting your pricing should the carriers apply the increases. 45,000 dockworkers on the East and Gulf Coasts of the USA are reportedly ready to walk off the job on 01 October if a new labour agreement isn’t reached. The impacts of the strike will be far reaching as the ports involved handle nearly half of all U.S. imports, creating supply chain disruption, surge in costs and good shortages. The ripple effect of the industrial action on the US EC & GC ports if it eventuates will be felt around the world as the disruptions in the US will lead to shipment delays and a shortage of shipping capacity in APAC region within five to seven weeks. A long legal battle over the financial consequences of the vessel Dali which brought down the Francis Scott Key Bridge in Baltimore lies ahead. The myriad claims filed in the Limitation of Liability Act case highlight just how far-reaching the fallout will be. Full story can be found here. This is timely reminder to ensure that you have adequate marine insurance. If you are in doubt, please speak with your key contact at Transways. Should you wish to discuss any of these points, please don’t hesitate to reach out to your key contact @ Transways Logistics International. |
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