IHS Markit expects US GDP to expand 7.1 percent in the fourth quarter, based on a $130 billion jump in inventory investment in October that represents goods “pulled forward” from 2022.
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No post-holiday respite from import deluge: US retailers
Retailers project continued strong imports into 2022, with no traditional post-holiday slack period, as sales remain strong and ports work overtime to reduce vessel backlogs
US House passes ocean shipping reform legislation
The House voted overwhelmingly in favor of the Ocean Shipping Reform Act, which if passed by the Senate and signed into law by President Joe Biden would herald the first rewriting of US shipping law since 1998.
Plummeting truck orders dampen hopes for new capacity
Several factors are diminishing shipper expectations for new truck capacity in 2022, as Class 8 truck production and delivery dates are pushed out more than a year and backlogs build.
Savannah vessel backlog dwindles with new capacity on the way
With the number of anchored vessels already cut in half since September, the Port of Savannah is adding 400,000 TEU of capacity by Dec. 31 to the Garden City Terminal to further whittle down the backlog.
Knight-Swift expands LTL presence with Midwest carrier buy
The largest US truckload operator acquired its second LTL carrier this year, bringing it closer to a national network and more than $900 million in LTL revenue.
In-transit ships to prolong LA-LB congestion despite fewer vessels at anchor
Trans-Pacific carriers are slowing their vessels en route to Los Angeles–Long Beach, but the reduction in vessels at anchor does not mean cargo volumes have in any way been diminished.
Slight easing of fragile trans-Pacific masks risks ahead
Many transportation executives, citing a highly fragile and capacity-constrained system and ongoing surprises tied to the unpredictable trajectory of the pandemic, are unwilling to declare the supply chain crisis has begun a period of sustained easing.
Charleston targets mid-December to clear anchored vessels
Eight vessels are now anchored off the Port of Charleston following the brief closure of a berth earlier this month and a stevedore labor shortage over the long Thanksgiving weekend.
Global air cargo volumes surging on US demand
A strong third quarter for US airlines is expected to spill over into the last three months as demand continues to fill all available space.