After midnight on October 1, the port workers from The International Longshoremen’s Association (ILA) launched a strike, effectively halting operations at key ports stretching from Maine to Texas. This work stoppage follows months of tense negotiations with the United States Maritime Alliance (USMX), which represents the shipping ports. Unfortunately, the inability of both sides to... Read more »
By this point in the year 2021, the bottlenecked and congested ports, backed up rail lines, and pinched trucking capacities are nothing new, and most of us have adapted and gotten used to longer lead times, delays, and skyrocketing costs. After emerging into the post-pandemic world, there was hope that these logistical nightmares would begin... Read more »
Last week a 1,300-foot container ship became wedged in the Suez Canal in Egypt, causing massive disruption to the already squeezed global ocean shipping industry. More than 10% of world trade is said to pass through this canal, as it greatly shortens the route between continents. The blockage is estimated to have cost $10 billion... Read more »
The petrochemical market is reacting to volatility and widespread price increases for the past few consecutive months, leaving many buyers wondering what the reasons are behind it. Companies are especially feeling this added pain just as manufacturing makes its attempt at recovery in the post-pandemic world. Simply stated, there are two primary factors driving these... Read more »
As concern about the spread of COVID-19, commonly known as the coronavirus, continue to develop in the U.S., many companies are beginning to look at the potential economic impacts of this virus on their businesses. What can you do to prepare? Here is what you need to know: Monitor your Supply Chain Closely Many producers... Read more »
The trade war isn’t the only thing in the news that is hindering exports and imports with the United States. The Export-Import Bank of the United States hasn’t been able to reach a quorum, causing United States manufacturers to be severely weakened in foreign markets until recently. The Export-Import Bank of the United States is... Read more »
