Global Supply Chain Update – January 10, 2024

Arbor Data Science  •  Weekly Reports  •  January 10, 2024

Latest News

  • Despite Houthi attacks, oil tankers have continued to use the Red Sea.
  • The USS Gerald R. Ford has headed home, and the USS Dwight D. Eisenhower nuclear aircraft carrier has taken its place in the Red Sea.
  • Cosco Shipping, China’s largest shipper, has halted routes in the Red Sea.
  • These difficulties could increase the cost of everyday goods.

USS Dwight D. Eisenhower, Source: USNI News

Our Weekly Global Supply Chain Update

  • Shipping container rates increased last week, with the composite rate per 40-foot container at $2,670, which is up $1,009 from the previous week.
  • Global container rates increased week-over-week. The largest increase was from Shanghai to Genoa, which increased $2,222 to $4,178, and from Shanghai to Rotterdam, which increased $1,910 to $3,577.

Source: CMA CGMSource: CMA CGM

Source: Quora

  • Trucking rates decreased by $0.10 week-over-week, with Internet Truckstop’s average equipment rate at $2.30 per mile.
  • Geographical trucking rates all decreased week-over-week. The largest decrease was in Mountain Central, which declined $0.19 to $2.28 per mile, and the West Coast, which declined $0.14 week-over-week to $2.13 per mile.

  • The aggregate index of most-watched supply chain metrics increased from our last update on 12/27/23 to -0.68 from -0.69, with zero meaning the supply chain is acting normally.

  • The Federal Reserve Bank of New York’s Global Supply Chain Pressure Index (GSCPI) decreased in December with a value of -0.15 against the November value of 0.13.
  • The index indicates pressure is now trending up almost above the average, suggesting increased supply chain issues.