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📈 BY THE NUMBERS: Important numbers impacting freight and logistics

⛽ Diesel: $4.498 gal (🔽from $4.593 last week) - Source: EIA

✈️ Air Cargo Index (Aug ‘23): 157.9 (🔽from 166.2 in July ‘23) - Source: FRED

🚢 Global Container Index: $1,088.61 - Source: Freightos

Logistics News for Oct. 11, 2023

🚚TX Gov. Abbott’s hard-line stance on border security harming freight

As Republican Gov. Greg Abbott of Texas continues to take an extremely hard-line stance on immigration and border security, his policies are starting to impact the flow of goods through southern ports of entry along the U.S.-Mexico border. Trucks are waiting upward of 24 hours to be inspected and cross over. More…

⚖️House lawmakers introduce SHIELD Act to protect supply chains

A bipartisan bill intended to protect supply chains was introduced in the bitterly split U.S. House of Representatives. Reps. Jim Banks (R-IN) and Rosa DeLauro (D-CT) introduced the Strategic Homeland Investment in Economic and Logistical Defense (SHIELD) Act. Both lawmakers expressed concern over what they call an American dependency on foreign manufacturing and how the U.S. supply chains weren’t prepared for a national security emergency like COVID. Press release…

💪National Retail Foundation says the U.S. economy is resilient

As the holiday shopping season starts, the National Retail Federation says that consumers—nay, the U.S. economy—are more resilient than expectations. This is big news despite the fact that NRF’s Global Port Tracker. Import volumes as the major container ports has already his peak for 2023 and that should taper off as the holiday shopping season and the new year approaches. Read this and this

☔Typhoon leads to vessel delays at China and Taiwan ports

Shippers and carriers operating in the southern regions of China and Taiwan are currently grappling with extensive delays as a result of the recent Typhoon Koinu. The typhoon hit the Taiwan Strait during the weekend, leading to the temporary closure of a minimum of eight ports and impacting 20 mainline vessels. Read…

📈U.S. officials alarmed at China’s growing influence in LATAM

U.S. national security officials told Financial Times of London that they are alarmed at the growing influence China exerts over trading partners in Latin America. For example, state-owned COSCO is making inroads to Peru. More…

🔻Dallas Fed: Russia trade suffering as ruble “buckles”

The Federal Reserve Bank of Dallas released a new analysis arguing that due to sanctions brought on by the U.S. government and the west for the invasion and ongoing war in Ukraine, Russia’s ruble is buckling as do export earnings. Fed…

🔍Something very noteworthy to read…🔍

“Recent high-profile freight train derailments, however, have highlighted safety concerns in an industry that travels through thousands of communities.” 

- Kristen Hildreth and Mia Geoly, National Conference of State Legislatures

Also read these…

• “Israel-Hamas war causes spike in oil prices. Here’s what it means for gas costs, inflation” - ABC News Digital

• “IMF watching for risk that Israel-Hamas war pushes inflation higher” - Yahoo! Finance

• “Report: Lack of Shipyard Capacity Could Impact Decarbonization Retrofits” - The Maritime Executive

• “Container Shipping Faces ‘Period of Uncertainty’ with Loss of EU Antitrust Protection” - GCaptain

Compiled by Michael McGrady – news analyst and writer.

Do you have a tip? Feedback? Email him – michael@freightforwarderservices.com