Ocean freight disruptions impact third party sellers on Amazon’s Prime Day [CNBC]

Initial reports from Adobe Analytics estimate this week’s Amazon’s Prime Day event netted $11 billion in sales. And what’s more shocking is that it is being reported that these numbers are considered muted or flat. Muted? Flat? $11 billion? These are mind-numbing numbers. Let’s put it in perspective: In 48 hours, Amazon sold more than half the GDP of Laos.

For many third party sellers, the ongoing global supply chain disruptions are causing chaos for their businesses. Sellers are finding it difficult to get their product out of China and to a fulfillment center to meet growing customer demand. Not knowing when or where inventory will arrive is exposing inefficiencies and lack of transparency across the network that have existed for a long time.

The toy maker behind the popular Bratz doll brand, Isaac Larian, said his company MGA Entertainment started planning months in advance to prepare for Prime Day. With hundreds of containers of products stuck at shipping ports in Yantian, and shipments to the U.S. taking weeks longer than expected, Larin stated: “In 42 years in this business, I’ve seen a lot of challenges, but I’ve not seen anything like this.”

Elon Musk may be jumping into subterranean container transport and he's not alone [Splash247]

And just when you thought The Boring Company was only for cars, here come containers. Along with interest in freight loop concepts from DP World Cargospeed, a partnership between DP World and Virgin Hyperloop, Elon Musk is reported to be eyeing the container transport sector. Bloomberg reported having seen a presentation for larger tunnels that could accommodate battery-powered freight carriers. 

Secretive ‘Box Club’ disbanding at the end of the year [JOC]

The International Council of Containership Operators (ICCO), commonly known as the “Box Club,” is planning shut down operations by the end of 2021. The half-century-old group of container shipping executives met twice a year but time and locations of the meetings were never made public. The group's activities led to an antitrust probe by the U.S. Department of Justice who were concerned the shipping heads were price fixing. 

The Ever Given is stuck AGAIN [Wired]

This time, by international law. The negotiations between the Suez Canal Authority and the Ever Given owners remain in a stalemate in Egyptian Court leaving its crew remaining stuck on board the vessel in the Great Bitter Lake since mid-April. Further complicating matters is the number of parties involved on the vessel that has an estimated $700 million worth of cargo on board. Managed by a German company and with Japanese owners, the Ever Given ship is leased to the Taiwanese firm Evergreen. Adding more complexity in the legal matters, the ship is insured by a British broker, run by an Indian crew and flies a flag from Panama.

Venture firm focused on supply chain gains new funding [WSJ]

Dynamo Ventures who’s sector focus is supply chain and mobility has raised a fund of approximately $43 million.  These additional funds will add more momentum to the flood of startups focused on digitizing logistics that have sprouted up since the COVID-19 pandemic.  Larger companies like A.P. Moller-Maersk A/S have also zeroed in on this booming sector.  

In the first quarter of 2021, supply chain startups raised $7.7 billion in venture funding which is a staggering 355% jump from the same period last year.



To learn more how Logistics Orchestration from Slync.io can help you navigate the complexities of global logistics, request a demo.  

And don’t forget to check out last week’s news and come back for our next logistics news roundup!

No items found.

If you liked this post, why not share it?

You might also be interested in
Congestion rises on multiple fronts due to black swans and systemic issues, while there finally seems to be some good news coming out of Long Beach and Los Angeles. Also, the Ever Given is back!
Industry Insights
Orchestration
booking & allocation
sustainability
friday five
ocean freight

The Friday Five: The strongest and most important link in the supply chain

Congestion rises on multiple fronts due to black swans and systemic issues, while there finally seems to be some good news coming out of Long Beach and Los Angeles. Also, the Ever Given is back!
Charles Lundman

Congestion rises on multiple fronts due to black swans and systemic issues, while there finally seems to be some good news coming out of Long Beach and Los Angeles. Also, the Ever Given is back!

While coverage of COP26 has been all but scarce this past week, this week’s Friday Five has the supply chain angle to Glasgow’s buzzing talks, plus a port congestion update and an innovation win for Walmart.
Industry Insights
Orchestration
booking & allocation
sustainability
friday five
ocean freight

The Friday Five: COP26 sees nations unite on zero-emission ocean shipping

While coverage of COP26 has been all but scarce this past week, this week’s Friday Five has the supply chain angle to Glasgow’s buzzing talks, plus a port congestion update and an innovation win for Walmart.
Charles Lundman

While coverage of COP26 has been all but scarce this past week, this week’s Friday Five has the supply chain angle to Glasgow’s buzzing talks, plus a port congestion update and an innovation win for Walmart.

Second verse, same as the first? In this week’s Friday Five, ports remain congested despite new attempts to move boxes out the door, while the reigning champs of supply chain chaos continue their shopping sprees.
Industry Insights
Orchestration
booking & allocation
sustainability
friday five
ocean freight

The Friday Five: Sittin' on the dock of San Pedro Bay is gonna cost you

Second verse, same as the first? In this week’s Friday Five, ports remain congested despite new attempts to move boxes out the door, while the reigning champs of supply chain chaos continue their shopping sprees.
Stephanie Bond

Second verse, same as the first? In this week’s Friday Five, ports remain congested despite new attempts to move boxes out the door, while the reigning champs of supply chain chaos continue their shopping sprees.

Get started on your orchestration journey