At the beginning of the year, before COVID-19 had established a firm grip throughout the world, the World Economic Forum’s Center for the Fourth Industrial Revolution declared, “there has never been a time of greater change for the last mile’”.
Maritime opponents of the proposed Oakland A’s baseball park and condominium complex at the Port of Oakland’s Howard Terminal vigorously contested a study, backed by the A’s, stating the Port operations would not be impacted by the proposed stadium/condominium development.
Many shippers and forwarders are wondering when we might return to a “normal” market condition and there are many factors that will come in to play. One of the most significant is demand for travel.
Jensen, who has been critical of the decision by ocean carriers to heavily invest in 18,000 TEU ships and larger says ports and terminals who upgraded to accommodate the mega-container ships are now paying the price with higher debt at a time of economic recession.