Supply Chain Snapshots - News of the Week (July 3, 2023)
New Reports Reveal Relief for Shippers — But for How Long?
(Read more on SupplyChainBrain)
The decrease in orders for new goods from Asia has had another effect—shortened transit times from dock to inland transportation hubs in the U.S. The latest Ocean Shipping Index report shows that total booking-to-receipt time for cargo moving from Asia to North America has dropped by 11 days from last quarter. This edition of the report is also the first to include ports in Latin America, signaling ongoing efforts by many shippers to diversify their supply chains.
Panama Canal Delays Draft Restrictions but Lowers Number of Transits
(Read more on The Maritime Executive)
The Panama Canal Authority has scratched (for now) further restrictions on the vessel draft allowable when transiting the canal’s locks. Previously scheduled for June 25, drafts were set to drop from 44’ to 43.5’ in the Neopanamax, and from 39.5’ to 39’ on the original Panamax lock. Improved drought conditions thanks to forecasted rains and a reduction in the number of vessels transiting were behind the decision.
TikTok Is Opening Its Own Online U.S. Store
(Read more on Semafor)
In a potential bid to increase the size and scale of their digital retail presence, TikTok announced plans to launch a full-service retail offering within the U.S. market app. TikTok will be purchasing inventory for this platform, differentiating it from their existing model where brands pay a fee to be featured in the TikTok Shop. All stages of the purchase, from logistics to customer service will be handled by TikTok, a rare expansion for a social media company in the U.S.
East Coast Ports Hit Speed Bump in Fast-Track Labor Talks
(Read more on The Wall Street Journal)
After starting discussions late last year, The International Longshoremen’s Association (ILA) President Harold Daggett signaled that local branches should break off talks earlier this spring. Talks between the ILA and the United States Maritime Alliance, which represents ports covering the Gulf and East Coasts, started at the end of 2022. As existing contracts don’t expire until September 2024, the parties have 15 months to come to an agreement.
Supply Chain Snapshots - News of the Week (June 26, 2023)
How Flexport.org and USA for UNHCR Provide Life-Saving Assistance to Displaced People Around the World
Stay in the Know With Flexport’s Freight Market Updates Newsletter