What a difference a year can make! This has been an interesting year for the ocean shipping industry. Ocean carriers were mostly profitable at the end of 2017, but that trend eroded quickly in the first half of 2018. And, with fewer carriers now in business—a result of past consolidations—carriers are finally focusing first on profitability instead of on ensuring vessels are full. This smart focus continued to improve the carrier’s financials towards the latter end of 2018. Will this trend continue into 2019 and beyond? Or, yet again, is this just a temporary recovery, as the trend has been since 2008?
Succeeding in global shipping can be difficult; you need to navigate transportation options, customs compliance, and ever-changing industry practices. In order to help you remain compliant, keep costs down, ensure efficiency, and stay on top of new trends and technologies, we’ve created this guide to help you conquer all of your global shipping challenges. Here’s what you need to do to be successful in the market.
How United States – Mexico – Canada Agreement (USMCA) Will Impact North American Cross-Border Shipments
The U.S., Mexico, and Canada released text to modernize the North American Free Trade Agreement (NAFTA) on September 30, 2018. While many news outlets reported on the new agreement—including the fact that all three countries still must ratify the trade agreement, which is likely to occur in 2019—there hasn’t been much information about how the agreement is likely to change for freight. Here are the main differences we see, which should provide significant optimism for those with cross-border shipments.
In a typical year, shipping by air and ocean follows a fairly predictable pattern of peak and slow times. However, this year is different as companies try to get ahead of new tariff implementations in the Transpacific Eastbound (China to U.S.) lane. Many shippers in this lane have ramped up their shipping early, while others are choosing to pay higher spot market rates in their preferred shipping times or waiting to see what will happen next. » Read More
Have you ever played Tetris? If so, you already have some understanding of what it’s like to manage a consolidated shipment. Unlike Tetris, success is more than a blinking screen of lights—it’s building a global freight consolidation strategy that is solid, effective and consistent. As a result, you will save both time and money while operating your supply chain.