The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.
An American Shipper poll of shippers and forwarders revealed that nearly 90 percent believe at least some cargo will be delayed by the verified gross mass rule that went into effect globally today.
The U.S. Commerce and Energy departments have started an industry advisory group, along with their counterparts in Mexico, to make recommendations to strengthen cross-border trade and investment in the energy sector.
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American Shipper recently visited the global headquarters of C.H. Robinson’s managed transportation services subsidiary in Chicago to get a first hand look at the company's transportation control tower, which shows how a managed TMS works in practice.
Shipment volumes in May 2016 grew 1.3 percent compared with the previous month, but expenditures slipped 0.4 percent, and both remained well below 2015 levels, according to the latest Cass Freight Index Report.
Logistics costs for U.S. businesses rose 2.6 percent in 2015, while the largest component of logistics costs, transportation, grew only 1.3 percent during the year, according to a report from the Council of Supply Chain Management Professionals.