IMO

Late last week, at the COP28 conference in Dubai, leadership for some of the largest global container shipping lines banded together to issue a joint declaration for an end date for newly-built fossil fuel-powered vessels, while also calling on the International Maritime Organization (IMO) to establish regulatory conditions needed to move on to green fuels to power vessels.

This makes a good understanding of how fuel and related costs are managed is critical to effectively managing supply chain performance and cost.

We’ve once again surrounded ourselves with some of the leading economic, fuel and freight transportation analysts in the market, allowing each a few minutes at the lectern to offer a quick glimpse into the immediate future in an effort to help shippers prepare their freight transportation budgets for the long run ahead.

In its quarterly “Market Trends” report, IANA reported that total third quarter volume––at 4,662,488––was off 3.7% annually, marking the fourth consecutive quarter of annual declines after a lengthy stretch of gains going back to the third quarter of 2016. The first quarter of 2019 was down 1.5% annually, following 4.7% and 4.2% annual gains from the third and fourth quarters of 2018, respectively. And second quarter volumes were off 3.8% annually.

This year was fairly apparent. The labor shortage across all logistics job titles along with the fact that very few shippers are even remotely aware of the IMO-2020 fuel regulation changes taking effect this January were the common denominators.

Volumes are declining due to various economic and market pressures—some out of the control of carriers and service providers. Today, the jury is still out on whether intermodal is in a temporary lull or if the bloom is off the rose on a longer-term basis.

GP Global has marked a milestone with the successful delivery of the first International Maritime Organization (IMO) 2020 compliant bunker load of low sulphur fuel oil (LSFO).

A sneak peek at the groundbreaking Logistics Management white paper on the impacts of the upcoming IMO-2020 regulations.

Learn about the 36th Annual Quest for Quality Award winners for Truckload (TL) Carriers

Vessel owners were lucky to be able to run between continents well out of sight of government and non-government organizations for over a century.

As we usher in 2019, many industry analysts are telling logistics managers to begin planning for a major transformational event coming into play for the ocean cargo sector a year from now.