Upgrade your fleet and unlock maximum profit from your transportation assets. We offer nationwide auctions, purchases and partnerships for top returns. Learn More
The past week saw Hutchinson's outbound tender rejection rates surge, increasing 1,052 basis points from 4.05% on July 28 to 14.57%
During that same period, outbound tender volumes moved little, up 0.34 points week over week from 31.97 points to 32.31 points. Compared with last month, tender volumes are 5.18% higher.
According to SONAR Key Market Insights, Hutchinson’s tightening is related to a surge in outbound volume. Out of 135 key market areas, the market ranks 81st in outbound volume and 101st in inbound volume.
“Under long-standing loopholes in maritime law, Jones Act shippers can and do outsource major vessel parts fabrications and modifications to foreign shipyards, primarily those in the PRC.”
