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This could be the hottest summer ever for freight Inbound TEU bookings are set to exceed 2020 peak by nearly 8% this week 0 6 3 minutes read Chart of the Week: Inbound Ocean TEU Volume Index , Van Outbound Tender Volume Index – USA SONAR:IOTI.USA, VOTVI.USA The Inbound Ocean TEU Volume Index (IOTI), which measures maritime bookings for twenty-foot equivalent units for U.S. imports, is set to hit an all-time high this week. The IOTI starts in January 2019 but covers one of the most active periods in maritime shipping thanks to the pandemic. With imports being tied more closely than ever to surface freight volumes and transportation demand, this could be a signal of an extremely active summer for domestic surface transportation providers. ....
Shippers take to the sky as ocean congestion grows Supply chains have fractured under the weight of recent import demand, forcing shippers like Peloton (NASDAQ: PTON) to find pricier alternatives in order to not miss their window of opportunity. Judging from FreightWaves’ new Inbound Ocean TEU Volume Index (IOTI) and the recent Transportation Air Cargo Index (AIRUSD), that is not the only company choosing to fly versus ship goods over the Pacific. The import boom appears far from over, and it will have implications long after this wave of unprecedented orders subsides. The trans-Pacific trade route has been overwhelmed over the past year as consumers divert their attention to spending on durable goods over travel and leisure services while they spend more time at home. ....