A big shoutout from the JOC!

A big shoutout from the JOC!

January 18th, 2021

In a field where competition is killer and you’re up against advancing e-commerce platforms and various tech startups, the key to surviving lies in investing in new forms of automation.

According to JOC’s Senior Technology Editor, Eric Johnson,

“Individual forwarders and non-vessel-operating common carriers (NVOs) are tackling the mandate to be more technologically proficient head-on … New York-based Jaguar Freight is using a mix of in-house-developed systems and off-the-shelf software to build a framework that helps it attract and retain customers.”

Not only are we happy to receive this shoutout, but we’re also excited to see how far the industry has come as a whole in its embrace of digitization.

Shoutouts aside, here’s what else we’ve found that’s noteworthy this week:

As we encounter cargo-ship charters equating to $350,000 per day, saving on shipping costs is now arguably more important than ever, so it’s no wonder companies are hopping on board the tech train. Not to mention the fact that supply chain risks seem to be amplifying as ocean carrier networks grow smaller and smaller.

With global container capacity and port congestion the most prominent issues facing the ocean shipping industry, one initiative that will theoretically ease some of them for Europe – the Silk Road – is seeing some success. But, it’s not without its own challenges.

And European-based exporters are getting the worst of things between the tight conditions in Asia lanes and Brexit continues to cause problems for the region. With increasing equipment imbalance surcharges, added security checks, complex documentation, and new taxes, the costs of transporting U.K. goods are at an all-time high. According to Bloomberg, the additional fees that are being placed on “flight trucks” can reach up to 3,000 pounds.

To learn more, check out our article highlights below, and click the last link to view some important dates you should keep in mind for upcoming key trade events in 2021.

Outlook 2021: Forwarders face technology investment crossroads in 2021 (sub. may be required)

Multimodal forwarders have a decision to make in 2021 that’s less about whether to invest in technology to serve shippers than it is about which type of investment to make.

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New world record set for shipping rates: $350,000 per day

It has never been more expensive to get a container of goods across the ocean. But it’s not just containers. Liquified natural gas (LNG) shipping is also rewriting the record books.

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Silk Road rail and haulage rates rising, driven by Covid and border delays

2020 was another record-busting year for rail volumes on the New Silk Road, but a persistant bottleneck at the Kazakhstan border means lengthy delays for both rail and road freight.

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More misery for European exporters as carriers tighten Asia bookings

Carriers are imposing booking stops around Europe, as well as tightening the time allowed to pick up equipment prior to vessel departure dates.

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Brexit Surcharge Spoils U.K. Exporters’ Virus Workaround

Brexit is driving up the cost to export U.K. goods using an air-freight method that British companies have relied on to cope with flight bans triggered by a fast-spreading coronavirus strain.

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Key dates to remember for trade events in 2021

The coronavirus pandemic forced many international meetings to be canceled or go online in 2020, and it continues to cast its shadow over the trade and economic calendar in 2021.

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