Although it doesn’t look that way now, there are continuing signals that logistics are heading towards a less frantic situation.
LOGISTICS
Asia-Europe volumes are gradually increasing in the post-Chinese New Year period, however ocean capacity remains tight due to pre-CNY rolled cargo, along with fewer sailings, according to Flexport.
Asia-US shippers are looking more to East Coast ports as congestion continues to plague LA/Long Beach, according to Freightos.
Projections for US ocean import demand show no sign of a slowdown in the first half of the year, per The National Retail Foundation.
- Retailers are projected to import 30% more containers compared with Q1 of 2019.
Maersk said it expected supply chain problems to persist into the second quarter but that the situation should level out in the second half of the year.
A “normalisation of the situation” and a fall in freight rates as Covid restrictions are lifted and infection rates fall, is expected to lead to a likely easing of congestion in ports such as Los Angeles and Long Beach on the US west coast.
– Soren Skou, CEO of A.P. Moller-Maersk
PODCAST
How Stores are Getting Ready to Reclaim Their Customers
Retailers face a huge opportunity to wow consumers and win back shoppers. In this podcast, Jeff Roberts, Head of Futures at Jump!Innovation talks about:
- The big opportunity that physical retail could seize
- The challenge of getting better customer data
- The game-changing advantage of getting to really know your customers
MATERIALS
Polyester yarn inventory is low, leading to price increases following Chinese New Year.
Cotton prices retreated after making strong gains earlier this month.
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