? Cargoccino Blend: East Coast Cheers, Imports Overflow, and Shippers Feeling the Squeeze ?
What has been happening in the shipping world these past few days?
Progress on the East Coast: A Strike Averted?
Great news for the East Coast shipping community! The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) are making significant progress in finalizing a new contract, bringing relief to everyone involved. Local negotiations are almost complete, and now the focus is on coastwide discussions to avoid any potential strikes before September.
Clarification for Drayage Providers by FMC
The FMC has clarified the final OSRA rule for drayage providers. Ocean carriers can only charge them for detention and demurrage if the move is not part of a "through bill of lading." This means the FMC's rules apply to ocean transportation contracts, not separate drayage agreements.
Summer shopping boosts imports
As summer approaches, the United States is expected to experience a significant increase in imports. This rise is fueled by strong consumer spending and retailers stocking up on inventory for the season. Cargo volumes are projected to exceed 2 million TEUs per month from May to September. The National Retail Federation's forecast indicates a positive trend for the shipping industry amid global economic uncertainty.
Baltimore Bridge Demolition for Enhanced Clearance
In a bid to expedite Baltimore Port's reopening, crews are set to employ controlled explosions to dismantle the collapsed bridge on the freighter Dali. This operation aims to clear debris to restore full port operations by the end of May. The bridge's collapse in March, which tragically resulted in the loss of six construction workers, has necessitated this drastic measure.
The Return of the "Ocean Carrier Cocktail"
The shipping industry is currently dealing with the comeback of the "ocean carrier cocktail" – a mix of canceled sailings and frequent rate hikes. This is raising spot rates and making it trickier to book cargo space. Although things might not be as tough as before, experts are advising shippers to prepare for higher costs and limited choices.
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10,000 miles away, Reese's Goes for Gold
Reese's is launching a "Legend vs. Newcomer" campaign for the Paris Olympics. The campaign features established athletes such as Alex Morgan and Jessica Long, as well as rising stars like Sophia Smith and Haven Shepherd. This strategy reflects the excitement surrounding both established champions and the potential of future stars. The limited-edition Reese's medals capitalize on Olympic excitement while promoting a new product, representing a strategic move to maintain relevance during a significant cultural event.
??What is brewing at BlueCargo? ?
Can you believe it? We're just 12 days away from the final OSRA of 2024 going into effect!
The BlueCargo teams are super excited and working hard to set up companies' logistics departments with the latest tools and knowledge to handle these changes.
We're revamping our freight audit tools and setting up webinars to help everyone get a handle on managing detention and demurrage under the new FMC ruling. We're totally committed to making sure everyone's ready for these big industry shifts!
Two webinars on May 23rd:
Three?teams to interact with you at the following in-person events:
The Cargoccino newsletter is a bi-monthly publication for logistics professionals and importers, delivering concise industry updates. You can find all the references sources HERE.