Farrow Chief Commercial Officer David Bennett to be featured on Journal of Commerce webcast
Webcast to analyze the state of the market and the outlook for the summer-fall peak season.
Farrow Chief Commercial Officer David Bennett will be a guest speaker during a webcast hosted by the Journal of Commerce in mid-July (14th).
The coming two months will reveal just how much US importers are pulling back on orders from Asia, and the degree to which container lines can adjust capacity. In interviews with the JOC, forwarders said they expect a bump in spot rates in the coming weeks — following a recent retreat as carrier capacity freed up — when an anticipated early peak season ripples into the trade beginning in late June. But the scale of the rate increase and length of the peak season are unclear, as some shippers are pulling back or even canceling orders, while others are increasing bookings. Despite the recent easing, the number of orders for Asian imports to the US and Canada rose steadily from February to mid-May, according to Infor Nexus, a global network platform for direct procurement, origin order management, multimodal freight management, and trade finance services. The number of orders in May jumped to nearly 150,000, the highest monthly volume of new orders since November 2021, it said. Premium rates, which carriers imposed last year when demand exceeded vessel supply in the eastbound trans-Pacific and are intended guarantee that containers get loaded onto ships as booked, have faded. That’s a sign there is excess capacity in the trade for the first time in approximately two years. But with Shanghai reopening after a two-month COVID-19 lockdown, will the current easing be a short-term pause or is demand on a longer-term downward trajectory? This webcast will analyze the state of the market and the outlook for the summer-fall peak season.
Details:
Journal of Commerce (J.O.C.) webcast
Midyear Container Shipping Report: Is the Peak Season in the Midst of a Fundamental Shift?
Thursday, July 14, 2022
02:00 PM EDST
Speakers:
Bill Mongelluzzo
Senior Editor, West Coast, JOC, Maritime & Trade
S&P Global
Session Chair/Presenter Bio
David Bennett
Chief Commercial Officer
Farrow
To register for this webcast, select this link.
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