Transportation Roundup: Spot rates fall; FMC seeks additional comments

Spot rates for container shippers are falling back to pre-pandemic levels in multiple areas. The Journal of Commerce reported that spot rates for Asia to North Europe fell to similar levels seen in January 2020, due to high inventory and inflation.

Meanwhile, the premium for East Coast shipments has been exhausted, as the spread between ocean spot rates to the East and West coasts has narrowed to pre-pandemic levels. The Drewry World Container Freight Index reports a spread of $1,169 between Shanghai-New York and Shanghai-Los Angeles spot rates on Jan. 26, down from $3,995 in late September.

A resurgence in COVID-19 cases in China after Lunar New Year celebrations might sound scary for the supply chain, but CNBC reports that this wave shouldn’t deteriorate operating conditions as badly this time. With up to 80% of the Chinese population already previously infected with Covid, the chances are slim for another major outbreak, said one Chinese government scientist.

The Federal Maritime Commission received almost 30 comments in response to its Notice of Proposed Rulemaking (NPRM) on Unreasonable Refusal to Deal or Negotiate issues last fall but will now seek additional comments regarding the proposed Respect to Vessel Space Accommodations rule. The original comments raised many good questions that the FMC says, “demand appropriate time and further opportunity for comment to be given thorough consideration.” Learn more on the supplemental notice here.

Readers are encouraged to bring forth their ideas and questions to Transportation Go! March 15-16 in Omaha where FMC Commissioner Max Vekich will attend and be on hand for a private meeting with SSGA members. Learn more and register for the event at www.transportationgo.com.

Shipping containers with agricultural goods aren’t transported on airplanes, but nonetheless, the Boeing 747 is making history as the last ever of the aircraft was delivered to Atlas Air on Tuesday. There are both passenger and freight versions of the aircraft, which began production in 1967 and made air travel accessible to the average person. Learn more about the end of the Boeing 747 era here.