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Low Mississippi, Retailer Overstock Trailer: Latest Supply Chain Stress

The towboat Roberta Tabor lifts a barge on the Mississippi River in Granite City, Illinois, USA, Friday, July 9, 2022.

Bloomberg | Bloomberg | Bloomberg | Bloomberg | Getty Images

according to National Weather Service Memphis Office, The Mississippi River is projected to tie the all-time high of -10.70 feet either today or tonight. The Mississippi River is an important waterway for trade, and declining water levels are affecting the amount of goods that can be imported or exported from New Orleans. According to the US Department of Agriculture’s Weekly Shipping Report, southbound barge tonnage has fallen by more than 20 percent on the river.

Corn, soybean and wheat agricultural shippers use barges as a cheap alternative to trucks and railroads to move grain in bulk. According to the USDA, just under half (47%) of all grain is hauled by barge. The Mississippi River carries about 5.4 million barrels of crude oil and 35% of his thermal coal.

“While the public and media generally understand that our economy depends on viable international shipping, trucking and rail transport, the critical role of inland waterways is often overlooked. said Peter Friedman, Executive Director of the Agricultural Transport Coalition. “Our members depend on adequate water levels in the Mississippi River system to reach domestic and international export markets. It’s felt not just by textile producers, but in the U.S., as well as by consumers abroad.”

Retailers turn to trailers for storage

Logistics experts say retailers are moving both large and small items to 53-foot trailers instead of warehouses.

Brian Bourke, Chief Growth Officer, Seko Logistics, said: “While we don’t store our regular inventory in 53-foot trailers or containers, we do use the 53-footer to store some items, such as unclassified returns that are less critical, and use our warehouse for shipping to customers. I am concentrating on

In addition to furniture and unwanted items, daily necessities are also heading to the warehouse.

Joe Monaghan, CEO and President of Worldwide Logistics Group, said: “He also has orders for 53-foot containers to store the product in pop-up yards for one to six months.”

The Biggest Problems Warehouses Are Facing Today

Paul Brashier, vice president of drayage and intermodal at ITS Logistics, said CNBC’s retailers are looking for creative ways to manage excess inventory.

“Many of our client distribution centers (DCs) are overstocked and we are looking for ways to address that overstock and move all subsequent shipments,” said Brashier. “With that headwind, DCs that process import shipments are really feeling the pressure. We load our products into 53-foot containers so we can move inventory further inland and get it to consumers faster.”

Congestion at East Coast Ports

As more trade continues to move to the East Coast, congestion at ports will continue to rise and container volumes will rise. to the warehouse It’s pushing prices up even though demand is declining. Savannah leads the East Coast in terms of number of ships at anchor. Pop-up yards, where containers are stored away from ports, are he one of the logistics strategies used to move boxes from ports to improve productivity.

Congestion on the East Coast has had a significant impact on vessel reliability.

Alan Murphy, Founder and CEO of Sea-Intelligence ApS, said: “On the worst-hit transpacific route, 70% of her ships do not arrive on time.”

One of the factors affecting reliability is the number of vessels a port receives. Ports with fewer vessels, such as Charleston, Long Beach, Los Angeles and New York, have improved vessel reliability, Murphy said. But in Savannah, where dozens of ships are anchored, there are delays that affect the reliability of vessel schedules.

“Ports like Savannah are full,” said John McKiston, Managing Director, Global Head of Originations, Trade and Supply Chain Finance at Wells Fargo. “There are ships that hold inventory while ports process containers. What used to take days now takes weeks because of the number of incoming containers.”

“One of my biggest concerns right now about this congestion is that a rail strike will destroy the third leg of the transport,” McQuiston said. “The US will have an element of paralysis in certain areas of the supply chain. rail strikeThere are not enough cabs or drivers to pick up containers bound for the railroad. “

The data provider for the CNBC Supply Chain Heat Map is Everstream Analytics, an artificial intelligence and predictive analytics company. Global freight booking platform Freightos, creator of the Freightos Baltic Dry Index. Logistics Provider OL USA; Worldwide Logistics Group, Freight Forwarding and Logistics Service Provider. Supply Chain Intelligence Platform FreightWaves. Supply chain platform Blume Global. Orient Star Group, a third-party logistics provider. marine analysis company MarineTraffic; Maritime visibility data company Project44. Shipping data company MDS Transmodal UK. Sea and air freight rate benchmarking and market analysis platform Xeneta. Sea-Intelligence ApS, a leading provider of research and analytics. Crane Worldwide Logistics; DHL Global Forwarding; Seco Logistics, a freight logistics provider; Planet is a provider of daily global satellite imagery and geospatial solutions.

https://www.cnbc.com/2022/10/17/low-mississippi-retail-overstock-trailers-latest-supply-chain-stress.html Low Mississippi, Retailer Overstock Trailer: Latest Supply Chain Stress

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