Freight News
I-40 Bridge Update
I-40 bridge has been closed since May 11th and it has been causing a major disruption in the trucking industry. Drivers who typically take 1-40 have been forced to reroute. This has caused enough congestion on Interstate 55 to impact transit times. Drivers are having tighter timeframes to make it back on time to the terminals.
Some drivers have switched their hours to the night shifts to be able to avoid the busy hours. Many drivers have been trying to avoid this route in general because of the delays, so many shippers are having issues finding carriers to move their shipments. This bridge closure is also costing the industry a great amount of money each day.
Shippers are having issues finding carriers to move their shipments while also having to pay more due to longer transit times. According to Freight Waves, it could take weeks before 1-40 is open.
Hurricane Season: Tropical Storm Claudette
As of today, June 23rd, Claudette has made it way out to sea but East Coast states should still expect big waves and some storms for a couple more days. On Monday, Claudette had started to grow more powerful once it hit the Carolinas with speeds up to 45 MPH. The National Weather Service issued flash floods warnings for those in eastern North Carolina on Monday.
As we are approaching hurricane season, it is good to stay up to date and whether your shipments could be impacted. Our marketing team sends out weather alerts when there are weather conditions that could potentially cause delays at ports/terminals. If you would like to receive these updates, please reach out to Rachel at rachel@interlogusa.com
Ocean Freight: Market Update
The transportation industry has recently seen rates reach all time highs along with space and capacity issues. However, our team at InterlogUSA has switched up our process to ensure our customers keep their shipments moving. We are constantly staying up to date on market trends, providing customers different options and last minute openings if they are able to take advantage. With the stress this market has brought many companies, our team has been able to relieve a lot of that with our service and dedication to keep shipments moving.
Asia --> North America
OVERVIEW: Shippers are still facing record high rates along with limited equipment. There is forecasted to be a July GRI estimated around $800-$1500. Space is still in high demand and is suggested to book on premium services.
Europe --> North America
OVERVIEW: Europe is still experiencing major equipment shortages. Ports are congested and are forecasted for a July GRI. Premium services are recommended to ensure space.
North America --> South America
OVERVIEW:
Capacity: Stable
Price: Moderate but increasing
Biggest concern is US port congestion and trucker availability. In South America, port terminal and customs delays.
GET CARGO INSURANCE TODAY
Don’t wait until it is too late. Let’s get you set up with Cargo Insurance today!