SCS Weekly Rundown | August 13th, 2024
Canadian Rail Strike Looming Large
Labor negotiations falter as union and rail companies clash over contract terms.
A Canadian rail strike could begin as soon as August 22nd, with a labor board ruling that one would not immediately threaten public safety by doing so. The Teamsters union backed the potential strike, hoping it will push contract negotiations further along. Meanwhile, Canadian National and Canadian Pacific are both continuing to advocate for arbitration in hopes of avoiding disruptions in the economy.
Read the entire story here.
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Import Surge Defies The Economic Odds
Unexpected resilience in U.S. imports has challenged all economic expectations.
Despite general economic concerns, U.S. ports are seeing a robust growth trend in container volumes, driven primarily by sustained consumer demand and spending shifts. This unexpected strength has led to higher spot rates and increased truckload volumes, especially in major port cities, signaling sustained demand throughout the peak season.
Dive into all of the details here.
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U.S. Container Imports Near Record-Level
The threat of potential labor strikes is driving a massive surge in volume.
U.S. container imports are nearing record highs as retailers rush to bring in goods for peak season ahead of potential labor strikes at key ports. Concerns over stalled labor negotiations have led to shifts in logistics strategies, resulting in heavy increases in West Coast port activity. The National Retail Federation points to early shipments and these strategic changes as a catalyst for the surge.
Learn more about this situation by clicking here.
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Record China-U.S. Container Traffic in June
Shippers have begun accelerating imports to avoid any potential disruptions.
June saw a record surge in container shipments from China to North America as shippers accelerated imports to avoid potential supply chain disruptions. This early influx was influenced by the ongoing conflict in the Red Sea, leading to an initial spike in spot rates, which have since started to decline as the peak subsides.
Get more information on this trend here.
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