Known

Tariffs got you down? Known can give you the visibility to plan for around your orders that may be subject to increased tariffs.

We had a great summer with our LAB interns onboard. Student athletes have been a fantastic talent pool for us. They come in every day with energy, attention to detail, and a team-first attitude. Thank you Lisa Rawlins for all you do with the LAB program - we can't wait to see what's next!

More shipping price hikes to come this year? Known’s planning and visibility solutions can help you stay ahead of the curve to ensure you’re not in a crunch for inventory when times like these arise. www.known.dev

As the initial shock from the situation in the Red Sea has subsided, the major news headlines have drifted away from the continued chaos. However, we're still experiencing ripple effects in the shipping industry, and insiders are anticipating more problems to come?? Maersk announced emergency measures to add capacity into its network, as ShippingWatch reports the typically stellar shipping line has seen its on-time port arrivals decline by over 16% since Q4 2023. As the Houthis creep their terror operation deeper into the Indian Ocean and potentially into the Mediterranean, we're sure to feel continued price pressure and shipping delays in an already tumultuous 2024. https://lnkd.in/g8DM85ze

If there’s one thing we can expect in our supply chains these days, it’s the unexpected. Today’s horrific news of the container ship allision in the Port of Baltimore has risen concerns in today’s mess of a logistics network. Delays, price hikes, and declining service can all be expected in the coming weeks. With diversions already occurring in the Suez Canal and now the Northeastern United States, the global shipping network is being thrown into a massive state of disarray. Our thoughts are with everyone affected by this tragedy! https://lnkd.in/gjDHy5jS

?? Tensions Rise in the South China Sea This past weekend, Chinese coast guard used water cannons against a Philippine navy-operated supply boat in a move to assert dominance in a disputed territory, the Second Thomas Shoal. This confrontation raises questions about freely and safely navigating the South China Sea, a vital route for global supply chains. The U.S. and several other countries have expressed support for the Philippines, but China is unwavering in its position, stating its actions were necessary to safeguard territorial sovereignty. With maritime traffic already being diverted from the Suez Canal in light of the Houthi conflict, how will this affect global trade in another one of the world's most important shipping trade lanes? ?? We're interested in hearing your thoughts! #SouthChinaSea #GlobalShipping #InternationalTrade #MaritimeSecurity https://lnkd.in/g5zCxQJA

?? Navigating Current Market Dynamics ?? In light of recent market shifts and TPM coming to a close, it's crucial for businesses to reassess their freight buying strategies. Let's dive into the current state of container shipping and uncover opportunities to optimize your logistics operations. ?? Market Insight: The seasonal dip in container spot rates from Asia to the US, following the Lunar New Year, reveals an underlying market strength. Platts reported Asia-to-West Coast spot rates at their lowest rate since mid-January, while remaining well above rates the same time last year. ?? Growth Ahead: US retailers project an increase in imports from Asia in the upcoming quarters. This upward trend indicates a robust demand, despite the current spot rate reductions. ?? Global Dynamics: Recent route diversions due to security concerns in the Red Sea have led to longer transits and impacted global capacity. This adds a layer of complexity and risk to the current market situation, influencing contract negotiations. ?? Your Action Plan: With the May 1 deadline for most 2024–25 service contracts fast approaching, it's a pivotal time to revisit your freight strategy. As carriers and shippers navigate these changing tides, your approach to freight buying can make a significant impact on your bottom line. ? Let's Talk Strategy: At Known, we're here to guide you through these market fluctuations. Whether you're a large retailer or a mid-tier shipper, our expertise can help you secure optimal freight rates and service, adapting to the current supply-demand dynamics. ?? Connect With Us: Don't miss the opportunity to refine your strategy in this evolving market. Contact us to discuss how we can work together to optimize your logistics for success in 2024 and beyond. Visit www.known.dev to request a quote or schedule a time to talk to a shipping expert today! Read the full report from JOC here: https://lnkd.in/df3zhSK3