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Container shipping companies are once again using multipurpose vessels (MPVs) to handle a surge in global demand and disruptions in the Red Sea, similar to strategies used during the COVID-19 pandemic. The Toepfer Multipurpose Index, which predicts rental rates for 12,500-deadweight-ton ships with heavy-lift capacity, shows a steady increase in rates as more container cargo spills over into these types of ships.
The Panama Canal is seeing a recovery in its freshwater reservoirs, allowing the canal's operator, the Panama Canal Authority, to let more large ships pass through. Starting in August, the Panama Canal Authority will add an extra slot for the largest ships, called neo-Panamax vessels, so that nine of these ships can pass through each day.
The significant increases in general rate increases (GRI) for shipping have been a major issue since April. Container costs have become a significant concern among the current shipping challenges. Prices have increased by a few hundred to a thousand dollars, with another surge anticipated in July.
In May 2024, ocean shipping costs from Asia to North America surged due to Red Sea conflicts and potential East Coast port labor strikes, with West Coast rates rising by 13% and East Coast prices up by 18%.
A giant container ship the length of four football fields has become wedged across Egypt's Suez Canal, blocking traffic in one of the world's busiest trade routes.
Dozens of additional goods are being excluded from the Section 301 additional 25 percent tariff on List 3 goods from China.
First and foremost, we hope you and your loved ones are staying safe and healthy.
Companies are beginning to push for legislation directing U.S. Customs and Border Protection to suspend all import tariffs for 90 days as part of broader efforts now underway to aid the U.S.
This communication is dedicated to providing you with updates that may affect your Supply Chain.
FEMA Temporarily Halts Exports of Certain PPE April 8, 2020
On April 18, 2020, President Donald J. Trump signed an Executive Order authorizing the Secretary of the Treasury to provide relief to certain U.S. businesses, including critical supply chains for U.S. manufacturers, during the COVID-19 pandemic. 
Significant EAR Changes Will Further Restrict Exports to China, Russia, Others Wednesday, April 29, 2020