Freight updates June 22, 2022: latest news and updates on the worldwide supply chain
The worldwide supply chain is constantly changing. Now, two years into the pandemic-related global capacity crunch, high prices, delays, and port congestion persist. These updates will share some of the latest freight news, so we can keep you abreast of the situation.
Congestion concerns rise amid severe labour shortages on US railroads
CSX is turning away business and struggling to meet demand, as per CEO Jim Foote. Problems such as shortages in manpower have led the company to struggle when it comes to recruiting sufficient staff. Read more.
Workers at 5 German ports walk out in warning strike over pay
Workers at the Port of Hamburg, Europe's largest railway port and third largest container port, have followed through on their threat of a strike. Along with Hamburg, the German ports of Emden, Bremen, Bremerhaven and Wilhelmshaven are also experiencing the impact of striking workers. Read more.
Geopolitics contribute to 11% decline in air cargo demand
The downturn in global air cargo demand intensified during April and is outpacing the slowdown in overall international trade in goods, as the Ukraine war, strict lockdown measures in China and inflation dragged down economic activity, an aviation industry group representing most major airlines reports last week. Read more.
Chain.io nabs $11 million in quest to create a frictionless supply chain
As the global economy has learned over the last several years, the supply chain is only as good as the information contained within as well as the ability to share that information across partners, customers and platforms. Chain.io was founded as a way to manage the complexity inherent in maintaining a resilient supply chain. Last Wednesday, the company announced an $11 million series A funding round to continue achieving its goal. Read more.
IRU calls for more action to recruit truckers as numbers continue to dwindle
Global driver shortages are set to surge this year, with China and Europe anticipated to be hit hardest. A survey of 1500 commercial road transport operators in 25 countries found truck driver shortages had increased in all regions except for Eurasia. Read more.
CN maintains normal rail operations across Canada as IBEW strikes
CN announced on Monday, June 20 that normal rail operations continue safely as it has implemented its operational contingency plan. Read more.
About the Freight Forwarders at Cole International:
At Cole, we’re proud to have been freight forwarders for more than 60 years. Freight forwarders are at the frontlines of today's global supply chain challenges. These updates share some of the latest freight news: keeping you abreast of the situation and giving you insight into the complexity freight forwarders are navigating at this time. Contact us today to learn how we can streamline your shipping operations.
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