SCS Weekly Rundown | July 9th, 2024
Hurricane Beryl Disrupting Texas Coastal Ports
Major ports like Houston and Corpus Christi closed with a Category 1 storm looming.
Texas ports, including Houston and Corpus Christi, temporarily ceased operations as Hurricane Beryl looms, which was the prompt for a Coast Guard condition 'Zulu' alert. The storm's heavy rains and surges caused extensive power failures, affecting people all throughout the region. As Beryl progresses toward Louisiana, updates on resumed port activities are eagerly awaited.
Get the latest information on this story as it develops here.
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Chemical Shipping Delayed by Red Sea Attacks
Rebel attacks in the area continue to wreak havoc, causing shipping rates to soar.
Houthi attacks in the Red Sea have significantly disrupted the chemical industry's supply chain, affecting both Europe and Asia alike by causing freight rates to soar and forcing shipments to reroute around the Cape of Good Hope. These disruptions lead to shipping delays, higher costs, and increased reliance on break-bulk vessels.
Stay up to day with this ongoing situation here.
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Shippers Warn Against Container Fee Delay
Shippers have warned that supply chain stability could be at risk with a delayed ruling.
Truckers and shippers have adamantly opposed the carriers' request to delay a new container billing rule. The Ocean Carrier Equipment Management Association seeks a 90-day extension to comply with the FMC’s rule on late container pickups and returns. Industry groups have been vocal, stressing that immediate enforcement is crucial to maintaining supply chain fluidity.
Dive into the full story by clicking here.
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Trucking Transport Jobs Stumbled in June
Last month saw a decline in transportation jobs, but trends hint at potential stability.
The Bureau of Labor Statistics reported another significant decline in truck transportation jobs for the month of June. Despite this ongoing trend, a sharp increase in non-seasonally adjusted jobs does suggest stronger future reports, with industry experts believing employment stability is likely in the short term, with a full recovery expected heading into 2025.
Read more about this trend here.
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