Ocean Freight rates on the Asia to US trade lane and specifically to the US West Coast are at record high levels after two months of continuous increases. Rates are anticipated to stay elevated throughout the duration of this peak season. A variety of market forces and unique economic circumstances have combined to push rates to unprecedented levels in 2020.
News / Economic News
Source: National Retail Federation Press Release – September 9, 2020
Imports surged to unexpected high levels this summer and may have hit a new record as the U.S. economy continues to reopen and retailers stock up for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Source: Institute for Supply Management – September 2, 2020
Economic activity in the manufacturing sector grew in August, with the overall economy notching a fourth consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Source: National Retail Federation Press Release – August 10, 2020
Imports at major U.S. retail container ports during 2020 are expected to see their lowest total in four years as the impact of the coronavirus pandemic on the U.S. economy continues, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Source: Institute for Supply Management – August 6, 2020
Economic activity in the manufacturing sector grew in July, with the overall economy notching a third consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Source: National Retail Federation Press Release – July 8, 2020
Imports at major U.S. retail container ports are expected to remain significantly below last year’s levels into this fall as the impact of the COVID-19 pandemic continues, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Source: Institute for Supply Management – July 1, 2020
Economic activity in the manufacturing sector grew in June, with the overall economy notching a second month of growth after one month of contraction, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Source: National Retail Federation Press Release – June 8, 2020
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Source: Institute for Supply Management – June 1, 2020
Economic activity in the manufacturing sector contracted in May, and the overall economy returned to expansion after one month of contraction, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Source: Institute for Supply Management – May 1, 2020
Economic activity in the manufacturing sector contracted in April, and the overall economy contracted after 131 consecutive months of expansion, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.