Port Disruption in Canada
- The Ports of Vancouver and Prince Rupert, the key ports on the West Coast of Canada, shut down on November 4, 2024 by a strike. This follows a strike at Canada’s 2nd largest port, the Port of Montreal.
- Approximately 20% of U.S. trade arrives via the Canadian Ports of Vancouver and Prince Rupert daily.
- According to the Greater Vancouver Board of Trade, approximately $800 million in trade flows through Canada’s West Coast ports daily.
Global Container Rates
- The composite rate per 40-foot container was $3,213 on 10/31/24, which is up $118 from the previous week. Global container rates mostly increased week-over-week. The largest increase was from Shanghai to Genoa, which increased $352 to $3,648, and from Shanghai to Rotterdam, which increased $246 to $3,396.
Suez Canal Crossings
- The chart below outlines the 7-day rolling total of container ships, tankers, and bulk carriers traveling South to North through the Suez Canal.
- The total number of crossings on 11/04/24 was 86 (compared to 216 on 11/03/23), which is a 60.19% decrease year-over-year.
Most-Watched Supply Chain Metrics
- The chart below is a breakdown of supply chain metrics for October 2024.
- The aggregate index of most-watched supply chain metrics (the black line in the chart below) increased last week to -0.28 from -0.46, with zero meaning the supply chain is acting normally.
U.S. Trucking Rates
- Trucking rates increased week-over-week, with Internet Truckstop’s average equipment rate at $2.28 per mile.
- Trucking rates on a geographical basis mostly increased week-over-week. The biggest increase was in the West Coast, which increased $0.09 to $2.19 per mile. The next biggest increase was in the South Central, which increased $0.07 to $2.37 per mile.
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