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June 12, 2023

Supply Chain Snapshots - News of the Week (June 12, 2023)

Monday, June 12, 2023

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CN Adjusting Rail Operations Amid Fierce Canada Wildfires

(Read more on FreightWaves)

Natural Resources Canada has said that the country is bracing for a potentially intense summer for wildfires as Canadian Railway (CN) is continuing to monitor fires currently burning in both Alberta and Quebec. Some shippers are opting to delay transporting goods, while others are diverting to alternative routes or modes.

US Unveils New Shipping Bills To Clean Up Pollution and Emissions

(Read more on The Loadstar)

Senators recently introduced two new bills before the U.S. Congress. The first, the International Maritime Pollution Accountability Act, aims to clean the air around port communities and would impose a pollution fee on unloading vessels. The Clean Shipping Act of 2023 would set baselines for acceptable levels for greenhouse gas (GHG) emissions, then requiring them to be cut by 45% by 2030.

US Import Demand Positioned To Find a New Bottom in 2023

(Read more on FreightWaves)

Freightwave’s SONAR bookings data is trending along similar lines to what was seen in in the first half of 2019, however the weakening global economic situation is likely to see H2 ‘23 numbers land somewhere 10% to 20% below second-half 2019 levels, per the most recent SONAR reports.

‘Sold Out’ Warehouse Operator in Mexico To Invest $700 Million

(Read more on Bloomberg)

Vacancy rates for Mexican warehouse space is under 2%—a record according to Morgan Stanley analysts—amid a rush on the part of U.S. companies to diversify their supply chains and bring sections of it closer to home. The move to regionalize supply chains is called “nearshoring,” and is expected to continue growing in the coming years as more companies look to mitigate risk from future uncertainties.

Unsnarled Supply Chains Appear To Help Ease Goods Inflation

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Using updated data from the White House Council of Economic Advisors, this brief article dives into the supply chain forces involved in the current inflation situation. Drawing on the Federal Reserve Bank of New York’s Global Supply Chain Pressure Index (GSPCI), among other sources, their conclusion is that American consumers can likely look forward to having some economic breathing room in the coming months. For another dive into the GSPCI, see Flexport Research’s recent commentary piece, Are We There Yet? Tracking the Recovery in Global Supply Chains.

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