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May 8, 2023

Supply Chain Snapshots - News of the Week (May 8, 2023)

Monday, May 8, 2023

This is Flexport's mark (alternative). It's the Flexport mark with white.

Flexport Moves Into Fulfillment Realm With Shopify Logistics Acquisition

(Read more on Journal of Commerce)

Flexport moved closer to its goal of providing customers with a single pane of glass where they can track their end-to-end supply chain with the announcement of the acquisition of Shopify Logistics on Wednesday. “We have said we want to move into the last-mile and fulfillment space in our roadmap, this moves us faster.” Flexport CEO Dave Clark said of the acquisition.

California OKs Advanced Clean Fleet Rule; Here’s a Summary of It

(Read more on FreightWaves)

The California Air Resources Board (CARB) unanimously approved the Advanced Clean Fleet (ACF) rules. The rule is complex and there are many caveats (keeping compliance officers busy), but the bottom line is that the state now has a framework for taking internal combustion engine trucks off the road and replacing them with Zero-Emission Vehicles by 2042.

Asian Air Cargo Rates Fall on Rising Capacity, Cooling Demand

(Read more on Journal of Commerce)

Cargo space availability out of Asia is on the rise at the same time demand has dropped. Over the past month or so, cargo capacity out of Asia has increased 36%, tonnage carried fell 7% and overall rates on all Asian export routes dropped by 44% (WorldACD data). While analysts disagree on the specifics, they seem to agree that this situation will likely remain in place through at least Q2.

Volume Contraction Slowing in North America West Coast Ports, Reports Sea-Intelligence

(Read more on Container News)

March saw the annualized rate of contraction for laden imports across North American West Coast (NAWC) ports decrease when compared to 2019. Alan Murphy, CEO of Sea-Intelligence, is quoted as saying "While this could very well be a temporary easing up, it could also be an indication of normalizing market conditions.”

Bankrupt Bed Bath & Beyond Goes After Container Shipping Lines

(Read more on FreightWaves)

Shortly after filing for chapter 11 bankruptcy protection and announcing the closure of all of its 475 retail locations, Bed Bath & Beyond filed a claim with the Federal Maritime Commission (FMC) against several carriers. The company is alleging that the carriers failed to meet minimum quantity commitments (MQCs) in their 2020 and 2021 contracts.

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