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January 2 2023

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Januar y 2, 2023 | Journal of Commerce 7 On trans-Pacific contract rates following spot pricing downward: "We've already seen how spot rates have collapsed since summer, and aer a few months of very slender long-term rate drops, we're now witnessing a catch-up as existing agreements expire and new contracts come into force." —Patrik Berglund, CEO, Xeneta On the possibility of regulatory action against container carriers in response to accusations of collusion and price gouging during the COVID-19 pandemic: "Many shippers want us to do something about the rapid inflation of freight rates and limits on supply. Even aer increasing our reporting and analysis, there's no evidence of anything like that occurring that would be an actionable case." —Daniel Maffei, chair, US Federal Maritime Commission (FMC) On the recovery in US supply chains: "One would have to believe in a couple things for fluidity to return in the near term, regardless of some operational improvements taking place on the margins: a sustained moderation in volumes, an easing in the massive dislocation/congestion of ocean assets, and a reduction in the negative impact of COVID on the workforce." —Ron Widdows, CEO, FlexiVan Leasing "We're actually seeing indicators of progress, but it's still not the new normal. We have good amount of work to do before we get to a highly reliable system." —Gen. Stephen Lyons, port and supply chain envoy, Biden-Harris Administration Supply Chain Disruptions Task Force On the benefits of bringing supply chain operations in house: "Six years ago, we made a concerted effort to build our own end-to-end logistics, because in our category, if you don't control logistics, you can't control the customer experience." —Niraj Shah, CEO and co-founder, Wayfair On the sudden drop in freight demand in the second half of 2022: "The conversation over the past year has changed completely. In [the] last 12 months, the pendulum has swung from, 'Can you secure me capacity? Cost is important, but not as important as the service,' to 'Can you store my inventory? This is inventory I don't need yet.'" —Tony Glass, senior vice president of business development, EFL "There has been a downturn in volume, but markets are beginning to normalize, and we will see in February and March whether this will pick up." —Tobias König, global CEO, Rhenus Air and Ocean On the US chassis market: "The good news is we're now getting the chassis, but the bad news is it looks like the market could soen. And so for right now, I don't anticipate that we're going to need additional infrastructure in terms of chassis." —Kari Kirchhoefer, vice president of premium marketing and sales, Union Pacific Railroad Echoing into 2023 2023 ANNUAL REVIEW & OUTLOOK

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