ANCHORS UP WEEKLY: OCEAN FREIGHT
Peloton’s Announced They are Spending $100 Million Dollars to Fix Supply Chain.
With the West Coast port congestion this industry has been facing for some time now, many companies have been facing delays after delays just like Peloton.
Peloton is addressing this issue and is investing $100 million to go towards speeding up delivery for their customers. They are looking into air freight options instead of ocean to decrease the amount of delays. According to Freight Waves, they will be spending over 10 times more per bike and tread in the coming months shipping them by air to ensure faster delivery time to their customers. Peloton is also looking into other port options that may have less congestion at this time to.
Peloton is one of many companies that are having to face these huge delays that are happening because of West Coast port congestion. There are been blanked sailings happening and ocean carriers are now having to take matters into their own hands by spiking up the rates to guarantee capacity.
WHEELS UP WEEKLY: AIR FREIGHT
Chinese New Year: How Will That Impact Capacity?
In the past two weeks, air cargo capacity has dropped 16% globally. Many countries are closing down international travel to try to keep the new COVID-19 strain from spreading. However, the transpacific trade lane is about to take another hit with the Chinese New Year coming up. Often times carriers cancel trips because many factories close for the holiday which leads to higher prices.
Companies have been having to pay premium rates to guarantee capacity on the transpacific trade lane because of the high demand to get shipments out before the CNY.
THIS WEEK'S QUIZ
BLOG OF THE WEEK
Challenge Your Knowledge and Take This Week's Quiz!
Staying Ahead with a Tight Capacity Shipping Market
Last Week's Quiz Winner:
Ryan Angermeier at Sportech
Last Week's Quiz Answers:
What country gets the most visitors? Answer: France
The largest ship can transfer how many containers? Answer: 18,000
What country invented bread? Answer: Egypt
Companies that outsource their logistics reduce shipping costs by _% Answer: 13%
First Air Cargo flight was in the year: Answer: 1910
What airport is the busiest for air cargo: Answer: Hong Kong International Airport
OVERSEAS PARTNER HIGHLIGHT OF THE WEEK
Sea Skycargo Service (P) Ltd. – Nepal
Pankaj Raj Sharma
Lord Buddha and Mt. Everest are both in Nepal.
GET CARGO INSURANCE TODAY
Don’t wait until it is too late. Let’s get you set up with Cargo Insurance today!