Key analysts at the 10th annual TPM conference on March 1-2 in Long Beach, Calif. will discuss the impact of the cargo bottleneck, the state of U.S. imports and whether the deepest recession in 50 years will fundamentally change supply chain choices and shipping patterns.
According to Peter Tirschwell, senior vice president of strategy, The Journal of Commerce, latest economic data including fourth quarter GDP growth of 5.7%, clearly points to a recovery. However, the transportation industry remains concerned about underlying economic weakness, an uneven recovery and its sustainability.
For importers rushing to ship goods ahead of the mid-February factory shutdowns for the Chinese New Year, capacity is a significant challenge.
Just as the economy is starting to pick up, there are delays getting merchandise to stores. At the same time, shipping rates are being raised significantly and, in many cases, cargo has been diverted to more expensive airfreight to meet delivery deadlines.
"We are now experiencing the most turbulent conditions that the transpacific market has seen in recent years," said Tirschwell.
