American Shipper reported this week that while container rates were breaking records last August/September, rates continued climb since and they now have spiked again. The unfavorable pricing environment of demand surpassing supply is leaving importers with a poor choice of spot rates at new highs or fixed annual contracts coming in at prices 50%-100% more than last year. Drewry has calculated that current Shanghai-Rotterdam spot rates have increased by about 539%, and Shanghai-Genoa rates by 471%yr/yr. (See link American Shipper: 'Container Shipping Spot Rates ...', May 13, 2021, Greg Miller)

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Cargo owners continue to struggle with managing alternative options for providing a supply of goods to their customers, as the Ever Given remains currently under arrest by the Suez Canal Authority. Sources privy to the ship’s manifest have revealed basic categories of products on board to include household goods, along with electronics, machinery/parts, furniture and footwear. The option to unload and reload cargo to another ship offers extremely difficult logistics and high costs. (See link for American Shipper, "Ever Given’s arrest and manifest ...", April 26, 2021, Lori Ann LaRocco)

US Senator Mitt Romney explained today that a group of senators have begun discussions for a less costly infrastructure proposal as a counter to the president’s $2.25 trillion spending plan. It was suggested that the new potential proposal could be about one third the cost in the range of $600 to $800 billion, focusing more specifically on roads, bridges, airports and broadband, while depending on an increased gas tax and other user type fees to pay for the national project. (See Transport Topics)

Suddath®, a leading global transportation, relocation and logistics company, announced (last week) that it has acquired Daryl Flood, Inc. (DFI). The sale, which was effective March 31, 2021, includes all of DFI’s operating companies, including Daryl Flood Relocation Inc., Daryl Flood International Inc., Dependable Relocation Services Inc., Daryl Flood Workplace Services Inc., Daryl Flood Logistics Inc. and VERSA Relocation Inc.

After the Ever Given container ship was freed up on Monday from its lodged position across the canal, many maritime experts are describing major global shipping disruptions for weeks ahead. The American Shipper reported ACP data showing that nearly one third of ocean cargo sailing from Asia to the U.S. east coast transits through the Suez Canal. As transit through the canal returns to normal and the backup of ships is reduced, there is an expectation of “vessel bunching” as disrupted schedules cause ships to arrive at European and U.S. ports in a cluster of anchorages.

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According to multiple news sources, including the Associated Press, a Golden-class container ship known as the Ever Given (Evergreen Marine Corp.) has blocked the entire Suez Canal of all traffic as it is turned in a sideways position. The 20,124 TEU mega-ship (399.94 meters in length) was destined for Rotterdam when the event occurred on Wednesday with its bow in contact with the eastern wall of the canal. The Suez Canal Authority has indicated that they are making every effort to resolve the problem and restore navigation in the canal as soon as possible.