East Coast ports are gaining market share over West Coast ports due to growing trade tensions between the U.S. and China.
The container shipping industry is showing surprising resilience, with many competitors poised to emerge from the pandemic disruption stronger than before.
Although material supplies are tight due to force majeures, we’re seeing many warehouses at storage capacity with operators opening satellite/overflow warehouses.
We’re seeing railcar capacity challenges in the Charlotte, North Carolina, area.
Trucking capacity remains tight throughout the U.S., and spot pricing remains elevated.
Clients are advised to provide expanded lead times on orders to help ensure delivery dates will be met.
COVID-19 infections in the U.S. eased to 38,410 yesterday with 1,014 reported fatalities.
COVID-19 infection rates are trending higher in 31 states this week.
There were more than 860,000 new jobless claims last week, down slightly from the prior week. Another 659,000 contractors and gig workers filed claims under the Pandemic Unemployment Assistance program.
The head of the CDC said there may be an effective vaccine by year end, but it would not be available for broad distribution until the third quarter of 2021.
Operation Warp Speed officials announced plans for the rapid distribution of an eventual vaccine, which will be free to all Americans.
The Federal Reserve expressed greater optimism about the economy after its monthly meeting yesterday, raising its outlook for GDP contraction this year from 6.5% to 3.7% and projecting that unemployment will fall to 5.5% by the end of 2021.
The central bank plans to keep interest rates near zero for the next three years.
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