The Port of Los Angeles has suspended plans to charge shippers for containers that have been piling up at the facility, an announcement made the day that Transportation Secretary Pete Buttigieg during a virtual visit pledged support from the Biden administration to help ease stress on the nation’s crowded supply chain.
November 18, 2021Logistics 100 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Extras
Southern California Port Officials Say Crisis Easing
Royal Mail Hands $540 Million to Investors on Parcel Windfall
Royal Mail Plc will return $540 million to shareholders, saying it’s increasingly confident that the online shopping boom spurring parcel deliveries will persist.
Delays Expected to Continue Past Holiday Shipping Season
Delays in shipments could extend through the holiday season and into next year due to a stressed supply chain, experts warned.
California Boosts Truck Weight Limits to 88,000 Pounds to Ease Port Snarls
California will increase weight limits for trucks carrying goods in and out of its ports in an effort to ease supply chain bottlenecks and clear containers off the docks of Los Angeles and Long Beach.
FedEx Closes Hong Kong Crew Base Amid Stricter COVID Rules
FedEx Corp. is shutting its crew base in Hong Kong, the world’s busiest international cargo hub, and relocating its pilots as the city considers stricter measures on flight crews to curb the spread of COVID.
Storm of the Century Stalls Canada’s Biggest Port, Idles Freight
Traffic at Canada’s largest port has been cut off by what local officials are calling the storm of the century, the latest snag to hit the North American supply chain.
Canadian Pacific Railway Starts Bond Sale for KC Southern Deal
Canadian Pacific Railway Ltd. is tapping the U.S. investment-grade bond market to help fund its acquisition of Kansas City Southern.
Home Depot Sales Gain Shows Americans Keep Fixing Up Houses
Home Depot Inc. posted stronger-than-expected results in the third quarter, a sign that increased North American spending on home improvement continues to stretch through the pandemic.
Amazon Brand Owner Heyday Raises $555 Million in Funding Round
Heyday, a platform that buys and builds consumer brands that sell on Amazon .com Inc., raised $555 million in a funding round led by Raine Group and Indian tycoon Azim Premji’s investment firm.
Container Shipping Rates May Take Two Years to Fall to Normal
Ocean freight rates, which have pummeled retailers and manufacturers throughout 2021, may take more than two years to return to normal levels if past market cycles are any guide.