Anthony and Zach have special guests Former Flex CEO and current strategic adviser to Clear A.I. Mike McNamara and FreightWaves Chief Strategy Officer JT Engstrom on to discuss coronavirus’ impact on various pieces of global supply chains and give an update on how the economy and freight market are reacting domestically.
“These numbers are ugly. There’s no way around that,” admitted World Trade Organization (WTO) Director-General Roberto Azevedo during a press conference on Wednesday, upon the release of the WTO’s coronavirus forecast.
Port restrictions and canceled flights are straining the ability to replace seafarers on board ships, further weakening global supply chains already snarled by the coronavirus pandemic.
The federal airlift of emergency medical supplies continued Thursday with at least two all-cargo planes making deliveries. An all-cargo plane full of disposable medical gloves touched down in the morning at Chicago’s O’Hare International Airport, said Todd Crabtree, the Chicago-area general manager at STG Logistics. Atlas Air operated the flight.
Activity at ports tracked by the Global Port Tracker fell in February to the lowest level in five years. Imports accounted for 1.51 million 20-foot-equivalent unit containers in February, the latest data available. That was down 6.8% from the same time last year, and sequentially down 17% from January of this year.
February intermodal volumes continued an ongoing run of declines, which were accentuated by the ongoing coronavirus, or COVID-19, pandemic, according to data provided to LM by the Intermodal Association of North America (IANA). Total shipments for the month—at 1,330,803—were off 5.4% annually. Domestic containers—at 608,833—were up 5.8% decline, while trailers—at 83,155—slumped 22.6%. All domestic equipment—at 691,988—was off 1/3%. […]
“The impact of the novel coronavirus on railroads is growing,” said AAR Senior Vice President John T. Gray. “Since 1988, when our data began, total U.S. rail carloads were lower than they were last week only during a few Christmas and New Year’s weeks, when rail operations are seasonally low.”
Fourteen Congressional lawmakers are pressing the Federal Railroad Administration (FRA) and the Federal Transit Administration (FTA) to consider the health and safety recommendations given by the rail unions as both agencies craft guidance related to the novel coronavirus.
The number of truck drivers crossing from the U.S. to Canada plunged last week in a sign of how COVID-19 continues to hit the freight markets in both countries.
The White House’s trade negotiating office assured that it will not impose import tariffs on certain Chinese medical products during the COVID-19 pandemic.
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