Weekly Logistics News Headlines: Russia Sanctions, Eastern Port Traffic
Sanctions and Disruptions Amid Russian Attack on Ukraine
Russia’s invasion of Ukraine has caused major disruptions for supply chains. Fuel costs are climbing while a flurry of economic sanctions against Russia are set to cause hiccups for imports and exports throughout the region. The Biden administration has placed its own sanctions, effectively cutting off imports from Russia and cutting the nation off from the U.S. financial ecosystem.
While West Coast Wanes, East Coast Port Traffic Worsens
Despite improvements on the west coast, east coast ports congestion is growing. The Port of Charleston, a major eastern seaboard corridor, now has more than 30 vessels waiting for berth offshore. Other ports throughout the east and gulf coasts have also seen growing queues. FreightWaves reports more.
$450 Million Headed to Ports for Projects
The Biden Administration announced this month that it will release $450 million of grant funding to U.S. ports to help accelerate the flow of cargo. According to Transport Topics, the funding is part of the DOT’s Port Infrastructure Development Program. Projects will include updates for docks, rail lines, and more.
LA-LB Make Headway on Containers
FreightWaves reports that the ports of Long Beach and Los Angeles – together the busiest port complex in the nation – are finally seeing improvements in capacity, efficiency, and empty container dwell. However, exports remain at historic lows as empty containers are prioritized for return transit to Asia.
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