News

Stay Up to Date with the latest Laufer and Industry News.

Bentzel: Buildup of Empties at East Coast Ports Near “Emergency Level”

Shippers and truckers at America's gateway ports have alleged problems with unreturnable empty shipping containers since the start of the late-pandemic cargo boom, and the problem is becoming worse on the U.S. East Coast, according to members of the Federal Maritime Commission. Chairman Dan Maffei has reported that his office…

Aug 10, 2022

Global supply chain stress at 18-month low in July, NY Fed’s index shows

Stress on global supply chains eased in July to the lowest level since January 2021 as port congestion and other snags eased, the New York Federal Reserve reported on Thursday, in its latest update to a worldwide index of supply problems. It was the third straight month of declines in…

Aug 10, 2022

Liner shipping on course to smash last year’s record profits

Liner shipping is on course to smash last year’s record profits by as much as 73%, according to new forecasts from John McCown-led Blue Alpha Capital, citing the soaring contract rates secured by carriers in 2022 and the ongoing port congestion issues. Net income this year will likely reach $256bn…

Aug 10, 2022

‘Now Is the Time’ to Explore Non-China Alternatives, Experts Say

Brands reliant on China imports should considering diversifying, experts at the Sourcing at Magic trade show said on Monday. Panelists offered a look ahead at the 2023 sourcing landscape, which they expect will bring continued supply chain challenges and trade headwinds. “If it’s coming from China, you’re going to have…

Aug 10, 2022

Retailers Say Second Half Decline in Imports Could Deepen in 2023

Aug 09, 2022
With retail sales slowing across the United States, the National Retail Federate is forecasting the imports into the U.S.’s major container ports will plateau and decline slightly in the second half of the year with the potential for a deepening decline early in 2023. However, with retailers having brought merchandise in earlier this year and the overall strength in the first half of 2022, the retail trade association projects that total 2022 container imports will be ahead of 2021. “The heady days of growth in imports are quickly receding,” said Ben Hackett, founder of Hackett Associates which assembles the monthly report for the NRF. “The outlook is for a decline in volumes compared with 2021 over the next few months, and the decline is expected to deepen in 2023.” According to the monthly update for the Global Port Tracker, the NRF reports that imports at the U.S.’s major container ports were up 5.5 percent in the first half of 2022 to a total of 13.5 million TEU.
Read More

As East Coast ports take more share of China trade, expect more bottlenecks for supply chain

Aug 09, 2022
Port productivity remains a huge hurdle for the U.S. supply chain as billions of dollars of products are at anchor or landlocked, and a shift to use of East Coast ports over West Coast ports creates new pressures. In the past three months, vessel capacity between the Far East and the U.S. East Coast has risen by 18.9% year on year, according to ocean and air freight research firm Xeneta. While the West Coast continues to have the lead in market share of Far East containers at 59.8%, it is continuing to lose more capacity to the East Coast as logistic managers move away from the West Coast out of fear of a labor strike. In the last three months, container capacity also has dropped on the West Coast, by 1.7%.
Read More