Freight updates March 10, 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 monthly updates will share some of the latest freight news, so we can keep you abreast of the situation.
Today, we have two items from the U.S. and a whole bunch from Russia/Ukraine.
President Biden targets container shipping alliances in SOTU
The White House announces a task force to investigate high container rates. Read more.
U.S. ports to get $450M to speed flow of goods, lower prices
U.S. ports will have access to nearly $450 million in federal money from Biden's infrastructure law aimed at easing supply chain congestion and lower prices for American consumers. Read more.
Global commodity trading patterns set for upheaval in wake of Putin’s invasion of Ukraine
The situation is rapidly changing, but we are seeing sanctions from North America and Europe as well as crucial sea lanes becoming unstable. Read more.
Some key international responses to the situation in Ukraine
- UK to prohibit entry of Russia-linked vessels
- Major shippers suspend Russia services; tankers shun Russian oil
- Canada cuts Russia and Belarus from Most-Favoured-Nation tariff treatment
- Government of Canada moves to prohibit import of Russian oil
With half a century of international shipping and freight experience, Cole is your full-service freight partner. We’ll help you navigate this challenging time—contact us today!
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