Shippers are looking at sharply elevated risks in the container supply chain and are seeing higher costs ahead due to US containerized imports from Asia up to 14 percent in January 2021 compared to a year ago. There is no slowdown in the volume surge, container squeezes, and unprecedented shipping rates.
Historic levels sparked by relentless volume pressures of US Port congestion at gateways like Los Angeles and Long Beach have shipment delays and shipping rates increasing very rapidly. This will continue in 2021 and the industry gathers on how to effectively respond to the historic back up of vessels at anchor or outside major gateways such as Los Angeles-Long Beach. The trans-Pacific and global container shipping and logistics community (TPM21) will be running these virtual discussions from February 25 to March 3. We are at a historic point joined by the container industry, retailers, manufacturers, and other major corporations relying on solutions for reduced capacity throughout the system due to the slowing down of normal circulation of container equipment. In their latest article, JOC expressed, “Just when the container shipping system needed more capacity to handle resurgent volumes, the reduced circulation of containers caused a contraction in available capacity, driving up rates and further compounding massive cargo delays”.
TPM21 will have in their program 70 sessions and 165 speakers heading over a full week from Feb 25 to March 3of discussions around the theme, “Reimagining the Future”. It will be well attended by CEOs of four container lines together with numerous senior executives repenting shippers, forwards, ports, railroads, truckers, and technology firms.
