New developments continue surrounding the coronavirus (COVID-19) outbreak. Below are the critical things you should know:
Over the last week, many events in international trade and the global supply chain have occurred. Below is a recap of the critical things you should know:
The coronavirus outbreak continues to cause disruptions to the global supply chain. The ocean carriers are continuing to void sailings or cancel port calls to reduce space, trying to deal with a lack of China base port cargo.
As the coronavirus outbreak worsens, global supply chains have begun to suffer the effects of the fallout. Due to the delays in inland truck transport caused by coronavirus restrictions, many refrigerated containers (reefers) filled with perishables for the Chinese population are unable to connect to power via reefer plugs at terminals while waiting to be picked up by a truck.
General Rate Increase (GRI) Season is officially here and is top of mind for most Less-than-Truckload (LTL) shippers. The GRI season occurs on an annual basis and is when Less-than-Truckload carriers commonly increase rates.
This year, the Chinese New Year (CNY) holiday is starting early and will occur from January 24 through January 30. It’s not surprising that as the world’s number one exporter celebrates its major holiday, shipping delays can be expected, in some cases, even weeks after the holiday ends.
Each week, the trade community watches the giant chess match between China and the United States, seeing who will make the next move, who will potentially “win” the match or if the game will end in a draw.
Trading globally involves risks, but having international cargo insurance is one of the best ways to offer peace of mind to both the buyer and the seller. Ascent Global Logistics wants your shipments to be monetarily safeguarded against physical loss or damage while in transit.