Port Operations and Freight Impact Update Following Hurricane Beryl
Hurricane Beryl landed in Texas as a Category 1 hurricane early Monday morning, bringing torrential rains, flooding, and 94 mph winds.
Port Operations Update: Port of Houston has resumed normal operations.
Impact on Freight Movement: Hurricane Beryl’s effects include widespread power outages and disruptions to rail and shipping operations in southeast Texas, affecting trucking, container handling, and intermodal facilities.
Paris Olympics: Road Restrictions in Place
Road restrictions begin on Monday, July 15 through August 11.
Delays on highways from Paris Charles de Gaulle Airport (CDG) to downtown Paris.
Changes to road restrictions based on competition schedules.
Ocean Freight
Changing Market Conditions
Shift from Price to Space: The market is shifting focus from price to available space. Carriers now have the upper hand and can charge higher rates.
Port Congestion: Ongoing congestion at major ports in Asia, Europe, and the USA worsens the situation.
Supply Chain Volatility
Rising Costs: Supply chain volatility drives up costs, making freight spending a key concern for shippers and forwarders.
Market Fluctuations: Spot rates spiked at the beginning of the year, dipped, and then escalated again in May, influenced by the Red Sea crisis.
Panama Canal Developments
Increased Transits: The Panama Canal’s water levels are near normal, allowing more large ships to pass through.
Drought Impact: The worst drought in 70 years caused significant disruptions, but rising water levels in Gatun Lake are helping to restore services.
Labor Talks Suspended in East Coast and Gulf Coast Negotiations
The International Longshoremen’s Association (ILA) suspended talks with the U.S. Maritime Alliance over the discovery of the use of automated technology at ports without union labor.
Current contract is scheduled to expire September 30.
A potential labor strike on the USA East Coast and Gulf is prompting shippers to plan early to avoid disruptions.
U.S. summer air travel surges, with TSA screening record numbers and expecting over 32 million travelers from June 28 to July 8.
Increased air travel leads to airport congestion and supply chain delays.
NNR will closely monitor unfolding events to ensure uninterrupted service to our clients. We deeply appreciate your ongoing support and remain committed to updating you on any new developments.
For further information or assistance, please get in touch with our dedicated team of trusted advisors.
