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To: bgill

Yup


137 posted on 02/12/2020 12:15:12 PM PST by LilFarmer
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To: LilFarmer

FedEx:
Ocean Freight Industry Environment (as of Feb. 12, 2020)

The coronavirus situation in China and its impact on the global ocean freight industry continues to evolve. There are ongoing impacts to manufacturing in the local regions in China, as well as ongoing extensions of the Chinese New Year holiday. Some Chinese technology companies have extended their work-from-home policies for at least another week. Many factories are limited in their production capability due to a shortage of manpower. This manpower shortage may also impact local trucking.
...
If demand far outpaces capacity supply in March, short-term spot rates could increase to levels several hundred dollars higher than the current long-term fixed rates. U.S. importers should consider preparing for possible ocean rate increases in early March, as consignees vie for constrained container slots.
....
If the coronavirus outbreak lingers into March, ocean carriers could declare Force Majeure in order to justify higher rates across the board, although there is no indication of this yet. The FedEx Logistics Ocean teams are communicating with our ocean carrier partners about any possible alternative contingency routings that may be available in order to accommodate the likely spike in demand in March.

https://www.fedex.com/content/dam/fedex/us-united-states/Service-Alerts/images/2020/Q3/FXL_Service_Impact_2_12_20_2121165116.pdf


139 posted on 02/12/2020 12:28:53 PM PST by LilFarmer
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