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  • 02/13/2018

    Lunar New Year Asia Office Closures

    Dear Valued Customer,    Please note that most of our Asia offices will be closed beginning Thursday, February 15. Select personnel will be on duty during the holidays should an emergency case arise. Regular business operations will resume Thursday, February 22.    If you have any questions regarding this update, please contact your Sales or Customer Service representative.   Thank you and Happy Lunar New Year,    OEC Group    The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com

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  • 02/12/2018

    Chicago Office Closure

    Dear Valued Customer,    Due to dangerous road conditions resulting from the winter storm, our Chicago office will be closed today.  Regular business operations will resume on Monday, February 12.   Sincerely,    OEC Group    The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com

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  • 02/12/2018

    March 1, 2018 General Rate Increase (GRI)

    Dear Valued Customer,    Effective March 1, 2018 General Rate Increase (GRI) has been filed for all cargo imported from Asia ports of loading, to U.S.A., Canada, and Mexico ports / ramps of discharge.   The proposed increases are as follows: General Rate Increase - March 1, 2018 USD         900 / 20' USD       1000 / 40' USD       1125 / 40'HQ USD       1266 / 45' USD          18 / LCL    As it is not possible to predict the future market based on the current trade conditions, OEC Group will continue to monitor the situation as it develops.   Should you have any questions regarding this update, please contact your Sales or Customer Service representative.   Sincerely yours,    OEC GroupThe information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com   

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  • 02/09/2018

    Winter Storm in the Chicago Region

    Dear Valued Customer,    Due to expected heavy snow accumulations and icy road conditions brought by a high-impact snowstorm from Thursday evening through Friday, we are expecting delays on cargo availability and delivery in the Chicago region for the next few days.   We will continue to monitor this situation and provide updates accordingly.   Should you have any questions, please contact your Sales or Customer Service representative.     Sincerely,    OEC Group The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com

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  • 01/30/2018

    The State of US Domestic Trucking

    Dear Valued Customer,    The domestic trucking industry in the U.S. is currently experiencing a significant crisis in capacity (Motor & Chassis). There are several factors that are converging to create an industry-wide issue that does not appear will ease anytime soon.   Major Factors Causing the Capacity Crisis   Increased Freight Volume Due to a strong holiday shopping season, freight volumes hit a record high in December. As of January 2018, there are approximately 10 loads to every available truck on the spot market. This is a marked increased from just 3 loads to every available truck during the same period in 2017.   Harsh Winter Weather Recently, extreme winter weather has plagued the US East Coast and Gulf Region resulting in closed roads and port terminals and creating a huge backlog of cargo.   Newly Implemented ELD Regulations As addressed in our previous advisory, as of December 18, 2017, newly enforced ELD regulations took effect and have added to the strain on capacity. Many trucks that cannot comply to the new rules have been taken off the road while drivers are strictly limited to the amount of time spent behind the wheel, resulting in a general decrease in productivity and the transit time on some lanes to nearly double.   Driver Shortages The median age of most US trucker drivers is around 55. Many of these drivers are nearing retirement age and trucking companies are struggling to recruit younger replacements who are drawn to higher paying positions in other industries.   Many shippers, in an attempt to circumvent issues with over-the-road trucking, have begun to change a portion of their cargo to rail moves. However, many intermodal rail ramps are unable to cope with this rise in demand and struggling with their own operational problems. Containers are consistently being stacked at the ramps due to chassis shortages which has led to much longer than average wait times and the carriers failing to pick up containers from rail ramps within the allotted free time.   Impact on Supply Chain Shipment Delivery Postponement Many shippers have decided to postpone non-critical shipments rather than paying to secure an available truck.    Rate Increases Shippers who need to meet critical delivery times are forced to pay a premium. The costs to secure capacity has increased over 20% (on average) from the same time last year. Base costs of domestic trucking are also increasing due to charges levied by truckers for pre-pulls and congestion surcharges (to compensate for long wait time at ports and rail ramps).    For additional Information please refer to the following: A Shortage of Trucks Is Forcing Firms to Cut Shipments or Pay Up Trucking Companies Race to Add Capacity, Drivers as Market Heats Up https://www.wsj.com/articles/a-shortage-of-trucks-is-forcing-companies-to-cut-shipments-or-pay-up-1516789800   OEC Group is committed to keeping our customers informed on current market conditions and will continue to monitor the situation as it develops. Should you have any questions regarding this update, please contact your Sales or Customer Service representative.   Sincerely yours,    OEC Group  The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com   

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