New ocean vessels on-order will replace about 30% of total ocean capacity; over 7.3 million TEUs. These new vessels will be replacing older models as the International Maritime Organization begins implementation in June 2023, and continues rolling out over the next 5+ years.
While the U.S. market remains shaky, nearshoring of manufacturing to Mexico will continue to boost cross-border freight flows in North America. We expect the cross-border market to be stronger during the second quarter compared to domestic trucking in the US. Mexico has been experiencing a nearshoring boom and expansion of foreign companies in the market, led by Texas-based automaker Tesla’s plan to build a $5B electric vehicle factory near the Mexican city of Monterrey.
Sunset is excited to release a new “Track My Order” feature on our website. This new tool is your one-stop-shop to track and review your shipments of any mode. Find quick and easy access to view pickup schedules, freight in transit, delivered status’, and shipment details like origin/destination, piece count, weight, and more. Check it out!
Sunset’s Chief Commercial Officer, Tracy Meetre, sat down with Inbound Logistics to talk supply chain best practices in this crazy world of freight. Shippers face many challenges in the current market, and there are ways they should (and should not) address some of those hurdles.
The Public Service Alliance of Canada (PSAC) has been on strike since April 19, 2023. However, this strike has not directly impacted vessel, rail or truck operations in Canada. Vancouver waiting time significantly reduced to 3 days; stable weekly coverage is expected. The U.S. monthly international trade deficit decreased in March 2023 from $70.6 B to $64.2 B.
The Journal of Commerce (JOC) provides an in-depth quarterly report into the US intermodal market to facilitate conversations between shippers and logistics companies about transportation modal decisions. Sunset is a proud data contributor to this regular report.
U.S. Import Container Rates from China hit the lowest point since tracking began in 2016, at just over $1k/FEU, but quickly rebounded 14% in one week due to newly implemented carrier GRI’s. Next month, a federal rule similar to California’s controversial AB5 could expand the worker reclassification requirements nationwide, eliminating the independent contractor model for truck drivers.
With rates being pushed this low, it comes as no surprise that the industry at large saw many bankruptcies. The dry van sector is by far the largest in the trucking market. Nearshoring continues to be the headline in Mexico. Growth in manufacturing continues to increase across several Mexican states, and we are starting to see more foreign companies making significant investments in Mexico. Historically, northbound shipments exceed southbound shipments by a ratio of 4:1. We expect this trend to continue increasing as productions levels increase.
Armada Supply Chain Solutions and Sunset Transportation are proud to be named among the Top 100 Logistics Companies by Transport Topics; landing the No. 13 spot on the 2023 list. #BetterTogether
Sunset continues to expand cross-border and customs brokerage services across key transportation corridors between Texas and Mexico. Sunset Laredo offers a full suite of US/MX cross-border customs brokerage and logistics management services, including a new and secure, 185,000 square ft. CTPAT-compliant and food grade-certified warehouse constructed in 2022.
Across the major East-West head haul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 51 cancelled sailings have been announced between April 10 – May 14, out of a total of 675 scheduled sailings, representing an 8% cancellation rate. During this period, 51% of the blank sailings will be occurring in the Transpacific Eastbound, 45% on Asia-North Europe and Med, and 4% on the Transatlantic Westbound trade.
As we move into Q2 of 2023, the market is still experiencing an excess in demand. Signs of shifting capacity in the truckload market have been evident for about a year. Nearshoring continues to be the headline in Mexico. Industrial parks are being utilized at maximum capacity and more construction projects are on the horizon. This is a direct result of companies looking for a more diversified and resilient global supply chain. The growth in manufacturing impacts cross-border trucking in Mexico. Both transload and direct trailers volumes are increasing.
Sunset is proud to announce our partnership with Armada. Read the press release to learn more.
Sunset is looking for agents with at least two (2) years’ experience. If that’s you, and you want more information, contact us!
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