Carriers’ pricing power slipping amid continued Red Sea conflict

The first fatal Houthi attack on a commercial vessel happened earlier this week, claiming three lives. The attacks in the Red Sea have created diversion around the Cape of Good Hope across all of the major container shipping companies, as they opt for the safety of crews and cargo at the expense of shorter transit times.

The result of the diversion has been a surge in global container spot rates of over 200% in a matter of weeks

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Shippers should lock in trucking rates soon: experts

Shippers seeking the lowest trucking rates should lock them in now, industry experts say. 

Carriers are beginning to signal improving market trends, and that may mean higher costs in the future for supply chain managers to move freight. Already, inventories are showing signs of normalizing and executives at some major trucking firms have said a return to normal could be around the corner.

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U.S. takes action on cybersecurity threat to maritime infrastructure

The Biden-Harris Administration has issued an Executive Order aimed at bolstering the cybersecurity of the nation’s ports, alongside a series of additional actions that will strengthen maritime cybersecurity, focusing in part on Chinese-made cranes at ports.

Read More Here Supply Chain Brain

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