This Week in Supply Chain [Roundup]
Hey, we know you are busy. We also know you want to want to be aware of everything happening in the supply chain industry. This is the spot for you. A weekly roundup so you are quickly updated.
1. Major delays in many ports
Within the last few weeks we have been experiencing a severe chassis shortage in many terminals including Chicago and Houston. The reason behind the shortage is the increased volume to make Chinese New Year deadlines and potential tariff increases. Carriers are not taking responsibility for the delays at the terminals and the extra charges for demurrage are being pushed on to the importers. Even if carriers provide chassis they are having a hard time picking up containers; they are not being released if they are still stacked.
Our Logistics team is updating our customers. If you have any questions, please email us at firstname.lastname@example.org.
2. Ocean Alliance extends deal until 2027
Members of the Ocean Alliance met in Hainan, China, on Friday to sign a five-year extension of the "world's largest operational agreement between shipping companies," according to a CMA CGM press release. CMA CGM, COSCO, Evergreen and OOCL will participate in the deal through 2027.
3. Available warehouse space at lowest level since 2000
The availability of industrial real estate fell to its lowest level since 2000 with only 7% of space available, according to a report from CBRE. In 2018, the demand for warehouse space exceeded the supply by a yearly total of 29 million square feet.
4. Port of Oakland wary over trade war after record 2018
The port handled 2.55 million TEUs in 2018, up 5.2 percent from the 2.42 million TEUs that moved through the port in 2017. Import volumes rose 5 percent year-over-year, while export volumes slipped 3.5 percent. Movement of empty containers out of the port were up 19.7 percent. But the outlook for the coming year is uncertain, according to John Driscoll, the port’s maritime director.
5. New importing requirements for wood products
Are you importing wood furniture/wood products containing composite woods? New US import reporting requirements for EPA regulations take effect March 22, 2019. Make sure you are compliant and suppliers are aware of reporting factors for your commodity! New standards must be applied to regulated products. Make sure your regulated products are compliant prior to export.
Our Customs & Compliance team is assisting our customers. If you have any questions, please email us at email@example.com.